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GIC Problems in Pakistan

M

MAliMujtaba

Newbie
Jun 3, 2019
4
3
Hello everyone there,

Pakistan has recently been introduced to SDS for which it requires GIC.

There is a Bank Habiib Canadian Bank which can accept wire transfer but how one can send the amount if he does not have foreign currency account?

is there any other way to send out the money to Habib Canadian bank where I have requested account opening?

facing hard times please help anyone
 
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alijumani

alijumani

Champion Member
Jan 11, 2011
1,776
147
Toronto
Category........
CEC
LANDED..........
09-08-2015
I was also looking for answer to this question. After doing research and asking bankers I was told in order to open foreign currency account you must be a filer first.

MAliMujtaba said:
Hello everyone there,

Pakistan has recently been introduced to SDS for which it requires GIC.

There is a Bank Habiib Canadian Bank which can accept wire transfer but how one can send the amount if he does not have foreign currency account?

is there any other way to send out the money to Habib Canadian bank where I have requested account opening?

facing hard times please help anyone
Click to expand...
 
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H

Harry_b

Newbie
Aug 1, 2019
5
0
Hi all,

Can anyone update about the procedure of sending money from Pakistan for GIC in Canadian bank.

Is it mandatory to have foreign currency account or local currency would world also?

I asked my local bank but they said I should be a tax filer and then open a f9reign currency account.

Any assistance here would be highly appreciated.
 
S

sherry99

Newbie
Nov 21, 2019
4
0
MAliMujtaba said:
Hello everyone there,

Pakistan has recently been introduced to SDS for which it requires GIC.

There is a Bank Habiib Canadian Bank which can accept wire transfer but how one can send the amount if he does not have foreign currency account?

is there any other way to send out the money to Habib Canadian bank where I have requested account opening?

facing hard times please help anyone
Click to expand...
Dear Brother,
Yes, there is a way to send GIC money through Pakistan. I went to Standard Chartered Bank in Islamabad F-7 head branch after explaining them a lot and talking to the service manager me and my father convinced them to send the money through remittance. You can send the GIC amount through remittance by first opening your account in PKR currency and then initiate a request of remittance to the bank where you want to submit your GIC and I also heard that Dubai Islamic Bank in Pakistan can also send your GIC money through Remittance and this procedure can be done through any bank.
I have initiated a request to send GIC money to Scotia bank from Pakistan.
You can also use Scotia Bank to send money to and Habib Candian Bank, the Scotia bank procedure is fast as they email you the money directions in 48 hours whereas Habib Canadian Bank can take up to 5 business days to call you for confirmation then they send the account info and all stuff to submit GIC.
 
A

Ahm@d

Full Member
Aug 25, 2019
34
4
sherry99 said:
Dear Brother,
Yes, there is a way to send GIC money through Pakistan. I went to Standard Chartered Bank in Islamabad F-7 head branch after explaining them a lot and talking to the service manager me and my father convinced them to send the money through remittance. You can send the GIC amount through remittance by first opening your account in PKR currency and then initiate a request of remittance to the bank where you want to submit your GIC and I also heard that Dubai Islamic Bank in Pakistan can also send your GIC money through Remittance and this procedure can be done through any bank.
I have initiated a request to send GIC money to Scotia bank from Pakistan.
You can also use Scotia Bank to send money to and Habib Candian Bank, the Scotia bank procedure is fast as they email you the money directions in 48 hours whereas Habib Canadian Bank can take up to 5 business days to call you for confirmation then they send the account info and all stuff to submit GIC.
Click to expand...
@sherry99 so i can go to any bank and asked them to send it through remittance. can you please explain in details abit
 
S

sherry99

Newbie
Nov 21, 2019
4
0
Ahm@d said:
@sherry99 so i can go to any bank and asked them to send it through remittance. can you please explain in details abit
Click to expand...
Yes, you can, you have to explain to them that this is the study and living expenses also print a screenshot of the CIC website and some GIC details from scotia bank to convince them. I hope it helps and I hope they will be convinced try to find out some relations in the bank too so they can help you. if still, they are not convinced then you have to open up a foreign currency account to send the money.
NOTE: The account for sending GIC will be on your own name and the address you have provided as your mailing or living address by creating the GIC account should be the same address that you will write on the form while submitting GIC so also keep its screenshot with you. I hope it helps.
PS: For opening a foreign account you must be filer and registered under FBR with NTN.
 
H

heera chaudhry

Newbie
Jan 30, 2020
3
0
hi I am heera from Pakistan can someone tell me I am facing the same problem which bank is best for moving money to Canada.well recently I transferred money to Canada but they rejected my money because money was not in canadain currency.i opened us dollar account in js bank but the bank manager did not know how to change us dollar in canadain dollar
 
Farazahsheikh

Farazahsheikh

Star Member
Oct 17, 2017
195
45
Pakistan
heera chaudhry said:
hi I am heera from Pakistan can someone tell me I am facing the same problem which bank is best for moving money to Canada.well recently I transferred money to Canada but they rejected my money because money was not in canadain currency.i opened us dollar account in js bank but the bank manager did not know how to change us dollar in canadain dollar
Click to expand...
Are you going to Ontario? If yes, then go for Habib Canadian Bank.
 
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Farazahsheikh

Farazahsheikh

Star Member
Oct 17, 2017
195
45
Pakistan
heera chaudhry said:
yes I am going to Ontario but I opened account in scotia bank in Canada but the problem is that the Pakistani bank does not open my account because I am not a filler
Click to expand...
You have to become a filer to open a foreign currency account in Pakistan. And if you are going to Ontario I suggest Habib Canadian Bank instead of Scotia. It's hassle-free and doesn't reject payments on petty issues.
 
H

heera chaudhry

Newbie
Jan 30, 2020
3
0
Farazahsheikh said:
You have to become a filer to open a foreign currency account in Pakistan. And if you are going to Ontario I suggest Habib Canadian Bank instead of Scotia. It's hassle-free and doesn't reject payments on petty issues.
Click to expand...
okye I told my agent last night that open account in habib canadain bank but how can I transfer money from Pakistan what can I do to open an account
 
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