The
Presidents/Chief Executives,
All Banks/DFIs,
Dear
Sirs/ Madam,
ACCEPTANCE
OF LEASED HOLD LAND AS COLLATERAL/SECURITIES
Please
refer to BPRD Circular No 42 of 26th December 1997, on the
above subject.
2.
The position has been reviewed at SBP and it has been decided
that henceforth, the banks/DFIs may themselves decide, in
consultation with their lawyers, about i) accepting leased
land as collaterals, and ii) determining the relationship
between such collateral and the loan, on the basis of their
own approved lending policies/requirements.
3.
The instructions issued vide BPRD
Circular No. 42 of 26th December 1997, therefore,
stand withdrawn with immediate effect.
4.
Please acknowledge receipt
Encl: