Circulars/Notifications - Banking Supervision Department  
 BPRD Circular No. 24
July 12, 1998   

All Banks/NBFIs

Dear Sirs,

MINIMUM MARGIN RESTRICTION ON IMPORT LETTERS OF CREDIT

 

In exercise of powers vested in the State Bank of Pakistan under Banking Companies Ordinance, 1962, and in supersession of all previous instructions on the subject, it has been decided that, with immediate effect, all import letters of credit, except for the items mentioned in the annexure hereto, shall be opened subject to a minimum cash margin of 30%.

2. Please acknowledge receipt.




Yours faithfully,
Sd/-(Mansur-ur-Rehman Khan)
Director

       
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