The State Bank of Pakistan has eased regulatory restrictions on specialized bank accounts, allowing a broader range of non-residents to operate in Pakistan’s financial system as part of efforts to encourage foreign investment.

Under the updated framework, any individual or organization classified as a non-resident under the Income Tax Ordinance, 2001 can now open and maintain various value accounts with banks designated as Authorized Dealers.

The decision expands access to key account types, including Foreign Currency Value Accounts, Non-Resident Pakistani Rupee Value Accounts, and their business variants. These accounts are widely used by overseas investors to bring funds into Pakistan and conduct financial transactions.

The central bank has amended relevant provisions in its Foreign Exchange Manual to implement the changes, signaling a shift toward a more investor-friendly regime.

While relaxing eligibility criteria, the SBP has directed banks to continue strict compliance with all applicable regulations, particularly those related to anti-money laundering and counter-terror financing.

Banks have also been instructed to inform their customers of the revised rules and ensure proper implementation across the system.