Navigating the financial and regulatory landscape in Pakistan as a foreign national or an international business entity requires adherence to specific protocols, one of which involves the Form Q.A.22. This document serves as a critical undertaking by foreign nationals and companies with head offices outside Pakistan, intending to maintain bank accounts within the nation. It outlines a commitment to ensuring that all credits deposited into such accounts are strictly related to legitimate trading activities conducted within Pakistan. These might include earnings from goods sold, among other permissible sources. By facilitating this process, the State Bank of Pakistan allows these account holders a certain level of dispensation from the otherwise mandatory completion of Form A-7 for each credit transaction, provided they do not engage in the disallowed practice of making foreign currency available locally without due authorization. Moreover, the form mandates the disclosure of transactions not directly related to trading activities in Pakistan or those representing overseas remittances, requiring a completed Form A-7. This declaration, which must be submitted in duplicate to the authorized dealer managing the account opening, underscores a transparent financial practice while promoting compliance with the regulatory framework governing foreign exchange in Pakistan.
| Question | Answer |
|---|---|
| Form Name | Form Qa 22 |
| Form Length | 1 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 15 sec |
| Other names | qa22 form pdf, bangladesh bank form qa 22, form a7 sbp, what is form qa22 |
See Chapter VIII
Para 5
APP. V
8
FORM Q.A.22
Form of undertaking to be furnished by foreign nationals resident in Pakistan and companies and
firms whose head offices are outside Pakistan for maintaining Bank account
To
The Manager/Agent,
(Name of Bankd)
Dear Sir,
I/We hereby certify that the credits paid into my/our account with your bank relate normally to my/our trading business in Pakistan only and consist of the following:-
(Here sate the principal sources from which rupee payments into the account are derived, e.g., payments received for goods sold, stating general nature of goods.)'
In consideration of the State Bank of Pakistan agreeing to dispense with my/our completing Form
|
|
|
Yours faithfully, |
|
|
|
(Signature of applicant) |
Date |
|
|
|
Full Name of applicant |
|
|
|
Nationality |
Passport No |
dated |
................... .issued by |
Occupation |
|
|
|
Address |
|
|
|
Date of arrival in Pakistan |
|
|
|
We certify that to the best of our knowledge and belief the information given above is correct.
Stamp and Signature of Authorised Dealer
Date ....................
Note:- This form should be completed in duplicate and submitted to the A.D. with whom the account is desired to be
opened.