Banks to register all FCY loans.

KARACHI -- The State Bank of Pakistan (SBP) on Tuesday authorised banks to register all foreign currency (FCY) loans irrespective of the amount.

The move will facilitate the corporate entities for raising foreign currency loans from abroad besides improving the business environment in the country, the central bank said.

Previously, it was required to register the loans above $1 million with Exchange Policy Department of the SBP whereas the loans up to $1m were handled by the respective banks.

According to new instructions, the respective banks will register the FCY loans irrespective of the amount. However, the banks will have to ensure that the FCY loans are in compliance with the relevant laws and regulations in force.

'The minimum tenor of...