It has been decided with immediate effect to substitute para 2 of Prudential Regulation-XXVI with the following: 

“2. The credit rating will be an ongoing process i.e. credit rating should be updated on a continuous basis from year to year, within four months from the date of close of the financial year and the rating report complete in all respect be submitted to the State Bank of Pakistan within a period of seven days of the notification of rating by the Credit Rating Agency.” 

All other instructions on the subject shall, however, remain unchanged.

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