SBP is reluctant to reviving the BPA with Iran. According to well-informed sources, the State Bank of Pakistan (SBP) has allegedly rejected the renewal of the Banking Payment Agreement (BPA) with Iran, claiming that the proposed accord may not be feasible in the present international context. This issue is on the proposed agenda for the 21st session of the Pakistan-Iran Joint Economic Commission (JEC), which will be held in Islamabad from August 16 to 19, 2022. The BPA was earlier signed in April 2017 between the SBP and the CBI to address trade-related payments issues. However, it was unable to be implemented, and the BPA expired in April 2018.