Is State bank putting hurdles in sending foreign exchange into Pakistan??

[SHAHID2503]

I have set up a call center in Lahore, Pakistan for my business that operates from England. I have decided to transfer funds from bank to bank instead of more financially rewarding channel. The first payment went through fine last month into our Allied business account. Since the beneficiary account detail set correctly previously thus no further error possible from sender bank.

We have contacted Allied bank manager and we were told that they can not check from their end although a remittance detail was shown to them. We were instead asked to contact the sender bank in UK to chase this up. Although it was ridiculous suggestion but hey this is Pakistan institution has to, private or public, offer to the public!!

I have now just contacted our bank in UK and they confirmed that the payment was sent through successfully and it is the beneficiary bank that need to look into it which is the correct way.

Funds were sent to Pakistan call center to honor their services and they have to pay their bills now. It has been 7 working days and Allied bank is in no mood to even look into it!!
Any comments from well informed ones will be appreciated.

 

[kakajee]

Perhaps that has got something to do with FATF grey list as sending remittances is becoming increasingly difficult.

Ask your bank in UK to conduct an internal inquiry. They will probably charge you some amount but atleast they will know the reason why the money is not yet transferred. What I know is that the oversees bank does not directly transfer the money to pakistan bank. It does so through an intermediate banking channel which is currently becoming a bottleneck due to this FATF grey list issue.

 

[JohnSnow]

State Bank leadership needs to be fired asap.

These clowns especially Tariq Bajwa are all touts of PMLN. They will do everything to fail this government policies.

 

[younus]

I agree. Sending remittances through banking channels in Pakistan is nightmare... Most Bank's emplyees in Pakistan don't even understand what IBAN is and in many western countries it is mandatory to provide beneficiaries IBAN.

 

[Kamboz]

Unfortunately, this is why foriegn investment won't come in. Asad Umar is supposed to rbing Paypal to paksitan in couple of months, so far we have seen nothing. honestly, ever since the PM commented about mid-term elections, it has put a damper on all business plans ... worst thing he could have said... demoralized business community here and oeverseas. He's a loose cannon , who is sinking fast.

 

[Wajdan]

Please lodge a complaint through Pakistan citizen portal mobile app. Furthermore, try to contact zulfi bukhari / overseas pakistan ministery if possible.