Please refer to Regulation G-1 of the Prudential Regulations for Corporate/Commercial Banking as amended from time to time.

2. It has been decided that whenever the Board of Directors/relevant appointing/removing authority of a bank/DFI considers to remove its President/Chief Executive Officer/Country Head/Country Manager 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/Country Head/Country Manager, wherever, 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/relevant removing authority of bank/DFI 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.

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