Please refer to BPRD Circular No.04 of 2007 dated April 23, 2007 regarding Fit and Proper Test (FPT).

2. In this regard, it is to be clarified that Acting CEO appointed pursuant to resignation/removal of the CEO is invariably required to meet the FPT Criteria prescribed for the CEO and the Banks/DFIs shall duly submit FPT documents of such person to SBP before assumption of charge.

3. However, in case of temporary vacation (not exceeding one month) of the office of CEO, the Banks/DFIs shall ensure to entrust charge of the office of CEO to such an officer who meets the FPT Criteria prescribed for Key Executives and whose FPT documents have already been submitted to SBP.

4. Please acknowledge receipt.