If you have email id of any official of SBP share it with me, It would be great if you share the same email content which you have sent to them.
GIC Problems in Pakistan
- Thread starter MAliMujtaba
- Start date
This is also issue the banks in Pakistan discourage to open FX account as a result students face issues in sending GIC.... Thats why we request state bank to issue special guidance to commercial banks
The issue is the bankers in Pakistan are reluctant that why we request central bank to issue direction specially for students who wana buy GICs by sending money to Canadian designated bank(s).
Already know the process we need to raise the issue at proper forum that is STATE BANK to issue clear guidelines to all banks in PAKISTAN . we don't need marketing on issue like this
Can anyone please mention the whole procedure of GIC over here instead of telling people to ask them individually on emails? Thank you.
jigzyy
VIP Member
- Jul 1, 2010
- 789
- Category........
- FSW
- Visa Office......
- London
- NOC Code......
- 2174
- App. Filed.......
- 04-05-2013
- AOR Received.
- 09-07-2013
- File Transfer...
- 22-07-2013
- Med's Request
- 02-04-2014
- Med's Done....
- 15-04-2014
- Interview........
- 21-01-2014
- Passport Req..
- 01-07-2014
- VISA ISSUED...
- 14-07-2014
- LANDED..........
- 22-09-2014
No one has received final approval let stamped alone visa during Covid19. There's also no timeline at the moment.
jigzyy
VIP Member
- Jul 1, 2010
- 789
- Category........
- FSW
- Visa Office......
- London
- NOC Code......
- 2174
- App. Filed.......
- 04-05-2013
- AOR Received.
- 09-07-2013
- File Transfer...
- 22-07-2013
- Med's Request
- 02-04-2014
- Med's Done....
- 15-04-2014
- Interview........
- 21-01-2014
- Passport Req..
- 01-07-2014
- VISA ISSUED...
- 14-07-2014
- LANDED..........
- 22-09-2014
You can find information on some other threads as well.
Summary:
- You can push your bank to send GIC amount in PKR -> USD -> CAD but 99% banks will not agree to this. Do keep in mind that you will have to pay the currency conversion prices. Students have faced nightmares using this method.. if you don't want to go this route (confirm from bank first, then follow rest of the steps)
- Open FCY account of USD in any bank, preference is your primary bank or Meezan/HBL. I believe you have to be tax filer to open account
- You have to have account in your name OR joint account with parents
- There's a hold of 15 ~ 20 days on account opening before you can operate it
- Meanwhile, open GIC account (4 days) in CIBC with proper information that matches your passport and CNIC (same address is mandatory)
- When your account is ready for transfer, apply for GIC conversion rate on CIBC, so instead of sending from USD - CAD, do USD - USD (1 less conversion hit)
- Get instructions letter print out from CIBC after approval (2 days), you have 5 ~ 7 days timeline in which you have to initiate transfer
- Take the letter to bank.. get the wire transfer done (there'll be a lot of push backs from bank for stupid reasons, you have to push them too to use information on instruction letter AS IS including your PAKISTAN address)
- CIBC will receive money with in 12 hrs and will send you notification and GIC letter
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Anyone used CIBC for the GIC? I am trying to send 17k CAD from my USD account through Standard Chartered Bank but payments were returned twice despite following all the instructions as were received. Whenever I approach the CIBC they respond standard emails and not tell me the reasons. The Standard Chartered Bank also says no issues at our end but in my account reasons are "beneficiary bank did not apply" and "account name and number did not match". This GIC has already taken more than a month now and I am also slapped with more than 170USD as charges on account of failed transactions. Any help or support would be appreciated.