The Chief Executives,
All Banks/DFIs,



Dear Sirs/ Madam,

 

SBP INSTRUCTIONS ON COMPLIANCE FUNCTION-
REPORTING LINE OF THE HEAD OF COMPLIANCE

Please refer to Prudential Regulation G-1 and letter No. BPD (PU-35)/602-Compliance /2360/ 2004 dated February 28,2004 on the above subject.

It has been observed that the banks/DFIs are following varying practices with regards to the reporting lines of the Head of Compliance. It is clarified that the Head of Compliance should report directly to the President /CEO of the bank/DFI.

Please acknowledge receipt.