The State Bank of Pakistan has permitted Habib Bank Limited to open special foreign currency accounts for companies operating in the Gwadar Free Zone. The approval applies to firms registered in both the South and North Free Zones.
Under the new arrangement, foreign and Chinese enterprises can retain a portion of their foreign-currency earnings for trade payments and overseas remittances. The accounts will carry a special identifier to distinguish them from other foreign currency holdings.
The move is part of broader efforts to reduce foreign-exchange hurdles in Gwadar, improve financial flexibility for businesses and encourage investment. It also aligns with earlier measures aimed at simplifying cross-border transactions in the zone.
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