Circulars/Notifications - Banking Supervision Department  
 BPRD Circular No. 37
October 16, 1998   

All Banks/NBFIs

Dear Sirs,

MINIMUM MARGIN RESTRICTION ON IMPORT LETTERS OF CREDIT

 

Please refer to BPRD Circular no. 24 dated the 12th July, 1998 read with BPRD Circular NO.34 dated 31st August, 1998 on the captioned, subject.

2 In Supersession of instructions contained in BPRD's Circulars referred to above, it has been decided that all import letters of credit, other than for import of wheat and POL products, shall be Subject to a minimum cash margin of 30%

3. The above instructions shall come into effect immediately.

Please acknowledge receipt.

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

       
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