The Chief Executives
All Pakistani Scheduled Banks

Dear Sirs / Madam,

Please refer to BPRD Circular Letter No. 26 dated 21st June, 1999 on the captioned subject.
2. In this connection, it has been decided to enhance the limit for holding board meetings abroad from 2 to 4 in case of banks incorporated in Pakistan having foreign participation/equity of 51% or more in the paid up capital of the bank. The bank concerned will, however, only inform SBP in writing as and when they hold meeting abroad.

Please acknowledge receipt.