Circulars/Notifications - Banking Supervision Department  
 BPRD Circular No. 27
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 foreign currency deposits mobilized by Investors Banks/Leasing Companies/Moddarabas through loans from multilateral agencies abroad and the foreign currency deposits so placed to hedge against the foreign exchange risk are exempt from the purview of the above circular

3. Other instructions on the subject shall remain unchanged.

Please acknowledge receipt


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

       
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