Please
refer to BPRD Circular No. 01 dated March 05, 2007 on
the captioned subject.
2.
It has been decided that whenever, the Board of Directors
of a MFB considers to remove its President/Chief Executive
Officer (CEO) before the expiration of his/her term of
office, through the defined statutory process, State Bank
of Pakistan (SBP) must invariably be informed at least
two months ahead of the implementation of such decision
along-with the reasons for the same.
3.
The President/CEO, whenever, decides to tender resignation
before completion of his/her term of office, he/she must
inform SBP at least two months before tendering resignation.
4.
The Chairman of the Board of Directors of the MFB would
be responsible for submission of the requisite information
to SBP for the Para-2 above.
5.
Other instructions on the subject shall, however, remain
unchanged.
Please
acknowledge receipt.