The Presidents/Chief Executives, All Banks/Microfinance Banks Dear Sirs/Madam,
BRANCHLESS BANKING REGULATIONS FOR FINANCIAL INSTITUTIONS
This refers to BPRD Circular No. 02 dated March 31, 2008 on Branchless Banking Regulations for Financial Institutions (FIs). 2. The State Bank of Pakistan (SBP) has decided to make certain amendments in the existing Branchless Banking Regulations with the objective of expanding the outreach of branchless banking operations. 3. These amendments in the Regulations shall be immediately applicable on all potential FIs. Financial Institutions which have already been allowed to offer branchless banking services are advised to streamline their existing operations/processes as per amended Regulations within six months of the issuance of this Circular, and report compliance to SBP. 4. All other instructions on the subject shall remain unchanged. 5. Please acknowledge receipt. Encl: 1. Amendments & Additions in Branchless Banking Regulations 2. Revised Branchless Banking Regulations
Yours faithfully
Sd/- (Mansoor H. Siddiqui) Director