Threshold for curr­ency transaction report raised to Rs3m

The State Bank of Pakistan raised the Currency Transaction Report threshold from Rs2m to Rs3 million, with the change taking effect immediately, Dawn reported on Friday. The previous limit was set out in the Financial Monitoring Unit’s 2021 guidelines for reporting entities. Under the revised requirement, entities must submit a report to the FMU only for cash transactions that meet the new threshold.

The Anti-Money Laundering Act 2010 still requires reports to be filed promptly, and no later than seven working days after a transaction. The SBP said complete, accurate and current details in these filings help produce quality financial intelligence reports. The change adjusts the cash transaction level covered by reporting, while leaving the filing deadline unchanged, a compliance matter relevant to regulated financial entities.