The Chief Executives
All Banks/NBFIs

Dear Sirs/Madam,

OPERATION OF BANK ACCOUNTS – DIRECTIVE UNDER SECTION 41
OF BANKING COMPANIES ORDINANCE, 1962

Please refer to BPRD Circular letter No.44 dated 14th October, 1999 and subsequent instructions on the above subject.

In pursuance of the orders received from the Government, it has been decided to withdraw its instructions circulated through BPRD Circular Letter No.44 dated 14-10-1999 as also BPRD Circular Letter No.45 dated 15-10-1999 with immediate effect.

Please note that the above instruction shall not be applicable on those accounts with respect to which freezing orders were later issued by the competent courts of law, including the Accountability Courts, or by some other Government agencies that are empowered to do so.