The PCB Anti-Corruption officials had charged Umar within two separate cases of not reporting an approach made to him to spot fix matches in the Pakistan Super League 5.
PCB Chief Executive Wasim Khan said that the new policy is a flexible, balanced and comprehensive one which addresses as many of the likely scenarios that the board will face.
The PCB has said that it is holding an inquiry into the matter and talking to its media rights partner.
The decision to allow centrally contracted players to apply for three foreign leagues besides the PSL is a big change from the past.
The Sindh province of Pakistan reported 42 new coronavirus cases on Monday -- three in Karachi and 39 in Sukkur. The provincial tally is now 394.
Wasim is of the view that Hafeez has nothing to do with the board's decision but he is willing to personally speak with him.
According to official sources, the PCB is set to make profits from four major commercial deals, including broadcasting and digital media.
Umar Akmal last appearance came in last October during a home T20 series against Sri Lanka and before that he also played in the March-April, 2019 one-day series against Australia in the UAE.
The Pakistan Cricket Board (PCB), however, said the PSL will continue as scheduled despite the withdrawal of the overseas players.
Sourav Ganguly had earlier said that Asia Cup will be played in UAE, with both India and Pakistan taking part in the tournament.
Umar Akmal now cannot take part in any cricket-related activity pending the investigation being carried out by PCB's Anti-Corruption Unit.
The BCCI has indicated that if the Asia Cup is held in Pakistan, the Indian team won't participate in it and the latest comments from Ehsan Mani hints at a shift of venue.
Mani said that venue of the Asia Cup would be decided after taking into account the majority view of all the stake-holders in the Asian Cricket Council.
The PCB has said in a statement that after concluding its proceedings into the alleged misconduct by Umar during a fitness test and after listening to all the parties involved.
PCB chief executive Wasim Khan said on Wednesday that the primary reason for proposing Rawalpindi was that pitches in Lahore and Karachi “have been diluted” through overuse.
Pakistan's former spinner Iqbal Qasim has been named the new chairman of PCB Cricket Committee.
Hafeez, who made a comeback to the national side, said the PCB needs to fill the communication gap with senior players.
On Monday, PCB chairman Ehsan Mani presented Gul with a crystal plaque after the third T20I between Pakistan and Bangladesh which got washed out at the Gaddafi Stadium.
PCB President Ehsan Mani will meet Bangladesh counterpart Nazmul Hasan to discuss their tour to Pakistan.
PCB's Chief Financial Officer Badar M Khan has resigned from his post after more than eight years in charge.
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