The State Bank of Pakistan (SBP) has extended the deadline for mandatory use of IBAN for PRI remittances by six months. According to PSD Circular Letter No 05 of 2015, issued on Friday, keeping in view the request of the PRI member banks, it has been decided to extend the deadline for mandatory use of IBAN for PRI remittances from December 31, 2015 to June 30, 2016. All other instructions on the subject will remain unchanged, the circular added.

Copyright Business Recorder, 2016