The bank is authorized to open foreign currency current accounts of the customers without the prior approval of the SBP. All foreign currency accounts are issued from time to time under the SBP’s Foreign Exchange Regulations.
BOK Foreign Currency Deposit Schemes
Currently, the bank is authorized to open foreign currency current accounts for their customers under the various schemes introduced by the State Bank of Pakistan (SBP) from time to time. These schemes are as follows:
1. Foreign Currency Accounts under FE-25 scheme
2. Special Foreign Currency Accounts
BOK Foreign Currency Account Eligible Customer and Required Documents
1. The account holder must be of Pakistani nationality or outside Pakistan, including those having a dual nationality.
2. All foreign nationals, whether they are abroad or in Pakistan.
3. Joint account in the name of non-residents and residents.
4. All diplomatic missions approved for Pakistan and their diplomatic officers.
5. All the international Organizations in Pakistan.
6. Companies and firms established / incorporated and operating in Pakistan, including foreign shareholders.
7. Foundations, Charitable Trusts etc. which are exempted from Income Tax.
8. Except for all foreign firms / corporations, banks and financial institutions that are involved and operating overseas, provided they are owned by individuals who are eligible to open foreign currency accounts.
BOK Special Foreign Currency Account
Special foreign currency accounts are opened by the bank after seeking prior approval from the head office. The following are the types of special foreign currency accounts which have not been classified under any scheme and have been opened under the specific approval of SBP:
1. BOK Foreign Currency Current Account of Private Power Projects.
2. The Bank may open special Foreign Currency Accounts / Offshore Foreign Currency Accounts for private power projects in Pakistan as per the Implementation Agreements (IAs) with the Private Power and Infrastructure Board (PPIB) and the Government of Pakistan.
3. BOK Foreign currency current accounts of foreign oil / mineral research companies and foreign contractors and their foreign subcontractors.
4. The Bank may open accounts of foreign oil / mineral exploration companies and foreign contractors and their foreign subcontractors under FE-25 or special foreign currency accounts provided that they cover all their expenses in Pakistan only.
How to Apply for BOK Foreign Currency Current Account
In order to apply for BOK Foreign Currency Current Account, the interested customers should visit the nearest BOK branch and fulfill the application form along with the required documents and submit it with the branch manager.
Bank of Khyber Helpline Numbers
UAN: +92-91-111 95 95 95
Tel: 091 – 5253867