State Bank of Pakistan (SBP) has shared the draft of Memorandum of Understanding (MoU) with the federal government on the much-awaited Banking Payment Arrangement (BPA) with Bank Markazi Jomhouri Iran.

Official documents reveal that during the Foreign Secretary”s meeting with the Iranian Foreign Minister on August 6, 2016, the latter intimated that their side was willing to issue “Letters of Comfort ” for Pakistani Banks ( upon individual request on case- to- case basis) stating that there was no prohibition to conduct business with the Iranian side according to Joint Comprehensive Plan of Action

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