The State Bank of Pakistan (SBP) has taken a significant step towards promoting accountability and honesty in foreign exchange activities by introducing a dedicated email address for the general public to report any illicit practices. Whistleblowing.FX(at)sbp.org.pk is the designated email where individuals can submit complaints related to unauthorised conduct by exchange companies or the absence of system-generated receipts for currency exchange transactions.
To ensure thorough investigation, complainants are encouraged to provide detailed facts and information about the illicit foreign exchange activities they have observed. However, they are also reminded to avoid spreading baseless rumors, speculating, or making unjustified accusations. While it is optional to disclose their identity when reporting, the SBP ensures that any information shared will be kept private.
The public is urged to use this platform judiciously and report only genuine instances of illicit foreign exchange activities. Furthermore, individuals facing issues while dealing with exchange companies can address their concerns by emailing facilitation.fx(at)sbp.org.pk. These issues may include problems with the sale or purchase of foreign currency notes, non-system generated receipts, excessive exchange rates, or refusals to cater to sincere customer requests for foreign currencies, among others.
As the governing body for the foreign exchange industry in Pakistan, the State Bank of Pakistan (SBP) oversees the operations of twenty-six exchange companies in the “A” category and twenty exchange companies in the “B” category. These companies have been authorized under the Foreign Exchange Regulation Act of 1947 to conduct foreign exchange activities, including the buying and selling of foreign currency notes.
