Pakistan Software Export Board in partnership with State Bank of Pakistan is providing enhanced banking facilitation for IT and ITeS exporters, marking an important step in improving financial services for a sector that plays a critical role in Pakistan’s economic growth. The initiative is designed to simplify international transactions and streamline regulatory compliance, ensuring that IT exporters can operate more efficiently while adhering to foreign exchange regulations. Selected banks have established specialized branches staffed with personnel who have in-depth knowledge of export-related foreign exchange regulations and the management of Exporter Special Foreign Currency Accounts, commonly known as ESFCAs. These branches aim to provide exporters with reliable guidance and effective account management while reducing delays and administrative challenges traditionally associated with international transactions. By creating a focused support structure, PSEB and SBP are ensuring that exporters can dedicate more time and resources to business growth rather than navigating complex banking procedures.
In addition to establishing specialized branches, banks have set up dedicated IT exporter desks designed to provide sector-specific assistance. These desks are staffed with experts who offer informed guidance on banking operations, assist in resolving operational issues, and help expedite transaction processing for exporters. This approach ensures that both routine and complex banking matters are addressed efficiently and that companies receive timely support tailored to their unique needs. Centralizing assistance in this manner also helps banks better understand the requirements and challenges of the IT export industry, enabling them to provide more effective solutions. Exporters can now access detailed guidance, practical advice, and hands-on support from these dedicated teams, ensuring smoother and faster operations. Details of the designated branches are available at this link, while contact information for the dedicated desks can be accessed at this link..
PSEB highlighted that these enhanced banking facilities are part of a broader effort to support Pakistan’s IT export sector, which continues to be a major contributor to the country’s economy and a driver of innovation in the digital space. By facilitating more efficient banking processes and reducing bureaucratic hurdles, the partnership with SBP allows IT exporters to focus on scaling their operations and competing in international markets. The integration of specialized knowledge within banks ensures that exporters remain fully compliant with regulatory requirements, including foreign exchange guidelines, while minimizing the administrative burdens that can slow down business activities. These services provide clarity and confidence to exporters, helping them navigate cross-border transactions with greater ease and reliability.
IT exporters are strongly encouraged to take full advantage of these facilities to benefit from timely support, informed guidance, and efficient resolution of banking issues. With dedicated desks and specialized branches now accessible, businesses can more effectively manage ESFCAs, handle international payments, and receive expert assistance without delays. This initiative strengthens the financial and operational infrastructure available to Pakistan’s IT exporters, enabling them to compete more effectively on the global stage while maintaining compliance with regulatory standards. By offering structured support and practical resources, PSEB and SBP are fostering an environment that allows IT exporters to focus on growth, innovation, and long-term sustainability, further cementing Pakistan’s position in the global technology market.
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