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On confirmation of receipt of funds in Nostro account, SBP will instruct BMJII to pay the exporters bank for onward payment to exporter in Iran.
Receipt of funds against Exports from Pakistan: On receiving payment instructions from importer's bank in Iran, BMJII will instruct SBP to make payment in Pakistan.
Riaz Riazuddin, Deputy Governor, SBP and Ghulamali Kamyab, Vice Governor, BMJII have signed the agreement on behalf of their respective central banks.
KARACHI -- An agreement on Banking and Payment Arrangement (BPA) has been signed between State Bank of Pakistan and Bank Markazi Jomhouri Islami Iran (BMJII) today in Tehran.
KARACHI -- An agreement on Banking and Payment Arrangement (BPA) has been signed between State Bank of Pakistan (SBP) and Bank Markazi Jomhouri Islami Iran (BMJII) on Friday in Tehran.
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