Circulars/Notifications - Banking Supervision Department  
 BPRD Circular No. 26
July 27, 1998   

All Banks/NBFIs

Dear Sirs,

Selective Credit Control

 

Please refer to the instructions contained in BPRD Circular No.23 dated July 2, 1998 on the captioned subject.

2. It is clarified that our above referred Circular will not be applicable in the following cases:-

    a.  Foreign currency deposits mobilized under our Foreign Exchange Department's F.E. Circular No.45 dated 11th August 1935, as amended from time to time.

    b.  Foreign currency deposits under National Debt Retirement , Programme (NDRP).

    c.  Foreign currency deposits made by firms and companies in Pakistan. out of foreign currency purchased from the market,  for the purpose of holding exchange risk cover relating to any foreign currency loan obtained by them from abroad under any loan agreement registered with the State Bank of Pakistan.

3. Other instructions on the subject shall remain unchanged.

Please acknowledge receipt.

Yours faithfully,
Sd/-(Muhammad Javed)
Additional Director

       
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