Circulars/Notifications  

 BPD Circular No. 17
July 9, 2002  

The Chief Executives,
All Banks/NBFIs,

Dear Sirs/Madam,

PRUDENTIAL REGULATION-XXVIII
FOREIGN CURRENCY DEPOSITS UNDER FE 25-1998

 

Please refer to BSD Circular No. 19 dated March 31, 2001 on the captioned subject. 

It has been decided with immediate effect to withdraw para ‘b’* of the referred Circular, whereby banks / NBFIs were prohibited from offering rate of return on such deposits exceeding the LIBOR.  

In the light of the above amendment, the banks / NBFIs will, henceforth, be free to decide the rate of return on deposits mobilized under FE 25. 

Other instructions on the subject will, however, remain unchanged.

Please acknowledge receipt.
Yours faithfully,
(Muhammad Kamran Shehzad)
Director
N.B.
     * Para ‘b’ has been renumbered as Para 2 in the booklets on Prudential Regulations for banks and Rules of Business for NBFIs respectively. 

BPD Circulars/ Circular Letters issued in 2003
 

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