Circulars/Notifications  

 BPD Circular No. 01 of 2006
May 29, 2006  

The Presidents / Chief Executives
All Banks / DFIs

Dear Sirs / Madam,

AUTO LOANS

It has been decided with immediate effect that for Auto Loans, Banks/DFIs shall not report overdue/default of those borrowers/lessees to Credit Information Bureau (CIB) of State Bank of Pakistan, whose vehicle financed/leased by them has been stolen or snatched, provided the respective Bank/DFI is fully secured to recover the entire outstanding amount from an insurance company under a valid insurance policy.

2. Please acknowledge receipt.
Yours faithfully,

Sd/-
(MUHAMMAD KAMRAN SHEHZAD)
DIRECTOR
 

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