Mandatory System Integration
The State Bank of Pakistan (SBP) has instructed all authorized foreign exchange dealers to integrate their IT infrastructure with the Pakistan Single Window (PSW) Price Verification Portal. Issued through EPD Circular Letter No. 13 on July 20, 2026, the directive comes under the central bank's Framework for Managing Risks of Trade Based Money Laundering and Terrorist Financing (TBML&TF).
Strengthening Cross-Border Trade Surveillance
The Price Verification Portal provides financial institutions with cross-border trade pricing data aimed at helping banks conduct thorough due diligence and address risks related to trade-based money laundering and terrorist financing. SBP noted that access to this portal acts as a supplementary resource to existing internal and third-party price verification tools, without removing the requirement for institutions to perform their own independent due diligence.
Technical Deadlines and Enforcement
Authorized dealers must carry out system modifications based on the PSW API Integration Document issued to banks on April 17, 2026. Full technical readiness and system integration must be accomplished by July 31, 2026. Failure to comply with the directive by the stipulated deadline exposes non-compliant institutions to regulatory action under the Foreign Exchange Regulation Act, 1947.