Mandatory System Integration for Foreign Exchange Dealers
The State Bank of Pakistan issued EPD Circular Letter No. 13 on July 20, 2026, instructing all commercial banks and authorized foreign exchange dealers to connect their internal IT systems with the Pakistan Single Window Price Verification Portal. The central bank requires financial institutions to finish software developments and integrate via Application Programming Interfaces to strengthen controls against trade-related anti-money laundering and counter-financing of terrorism risks.
Enhancing Trade Risk Management Frameworks
Developed by the Pakistan Single Window, the portal helps banks perform price-related due diligence under the central bank framework for managing trade-based money laundering and terrorist financing risks. The digital platform serves as a supplementary tool alongside existing internal or third-party price verification mechanisms, while maintaining the requirement for financial institutions to perform independent price due diligence.
Compliance Timeline and Regulatory Penalties
Technical specifications for system linkage were previously distributed in the API Integration Document shared by the State Bank of Pakistan on April 17, 2026. Financial institutions must complete system updates and achieve full operational readiness by July 31, 2026. Institutions that fail to meet this deadline face potential regulatory enforcement under the Foreign Exchange Regulation Act, 1947.