Circulars/Notifications - Banking Policy Department  
 BPD Circular Letter No.14
April 22, 2003  

The Chief Executives,
All Banks/DFIs

Dear Sirs/Madam,

NEW GUIDELINES ON WRITE OFF OF IRRECOVERABLE
 LOANS AND ADVANCES

 

Please refer to BPD Circular No. 29 dated the 15th October, 2002, on the above subject.

            We have received complaints from various quarters that banks/DFIs have not been issuing any acknowledgement to the requests submitted by the borrowers who intend to settle their liabilities under the scheme notified by the concerned bank/DFI in the light of Guidelines issued by the SBP vide the aforesaid circular. In addition, some of the banks/DFIs have not informed their eligible borrowers about the Scheme and opportunity available to them for settlement of their defaulted loans under SBP Guidelines.

 You are, therefore, advised to ensure that: -

 a)                  requests received from the borrowers for settlement of their defaulted loans under the scheme are invariably acknowledged; and

b)                 all eligible borrowers are informed about the Scheme and opportunity available to them for settlement of their defaulted loans.

 Please acknowledge receipt.

Yours faithfully,
(MUHAMMAD ASHRAF KHAN)
SENOIR JOINT DIRECTOR

BPD Circulars/ Circular Letters issued in 2002
       
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