The Head Offices of all
Exchange Companies
Dear
Sirs,
Remittances
by Hajj Group Organizers for Hajj-2005
Attention of the Exchange Companies is invited to the provisions
of FE Circular 9 dated July 30, 2002 outlining the scope
of permissible transactions for the Exchange Companies.
As a one time exception and in order to facilitate Hajj
pilgrims for Hajj-2005, it has been decided to allow remittances
by Hajj Group Organizers through the Exchange Companies
strictly in adherence to the provisions of the Hajj Policy-2005
of the Government. This specific one time permission to
the Exchange Companies established under FE Circular 9 dated
July 30, 2002 is granted for release of foreign exchange
to the Hajj Group Organizers (HGOs - who may be a proprietorship,
partnership or a private limited company) enlisted with
the Ministry of Religious Affairs, under Private Hajj Scheme
for Hajj-2005. These remittances shall be on account of
accommodation charges and compulsory Hajj dues to the concerned
Saudi Arabian agencies.
Accordingly, the Exchange Companies may effect Hajj-2005
related remittances, as per the amounts/percentage of Hajj
packages advised by the Ministry to each HGO individually,
after proper verification of the relevant documents and
recording of the transactions as under:
i) Letter in original from Ministry of Religious Affairs
must be presented by HGOs to Exchange Companies showing
enlistment as HGO and allocation of the seats (Exchange
Companies effecting remittances must invariably endorse
short details and full amounts of remittances allowed on
the reverse of this letter retaining a copy for their record).
ii) Letter from Ministry of Religious Affairs describing
the detailed instructions to be followed by the HGO and
amount and/or percentage of foreign exchange to be remitted
to Saudi Arabia.
iii) List of Hajjis alongwith copies of relevant pages of
Hajj passport i.e. first two pages & the page bearing
visa (to be obtained before schedule departure dates).
iv) Copy of the Air Ticket (to be obtained before schedule
departure dates).
Copies of the above documents shall be retained by Exchange
Companies and must be made available to the Inspection Team
of State Bank of Pakistan as and when called for.
The Exchange Companies shall report these transactions to
State Bank of Pakistan in:
- Monthly returns namely “Outward
Remittance” under the column “Religious Travel
- Hajj”.
- Weekly returns, the amount should be
shown on Statement ‘B’. A foot-note mentioning
the amount of remittances on account of Hajj Related expenses
by the Hajj Group Organizers should also be given in the
return.
The above permission is only applicable for Hajj-2005 and
Exchange Companies should ensure that no remittance is allowed
under this circular after the last day of Ziqa’ad,
1425 A.H.
Please bring the above instructions to the notice of your
constituents.