It
has been observed that the Banks and Non-Bank Financial Institutions
(NBFIs) frequently approach the State Bank of Pakistan for
relaxation in Prudential Regulations/Rules of Business for
NBFIs on different grounds after entering into agreement with
their clients. This tendency on the part of Banks and NBFIs
in the matter of Prudential Regulations/ Rules of Business
for NBFIs has been viewed seriously by the State Bank of Pakistan.
All Banks and NBFIs are required to strictly adhere to the
Prudential Regulations/ Rules of Business for NBFIs at all
the times and in all the cases. However, in exceptional circumstances
if a relaxation is justified, please ensure that in further
written approval of the State Bank of Pakistan is obtained
before entering into any agreement with clients which involve
deviation from any Prudential Regulations/Rules of Business
for NBFIs. The State Bank of Pakistan will examine such requests
for exemptions from Prudential Regulations/Rules of Business
on merit and communicate the decision promptly. No request
for post facto approval shall be entertained in future.
Please acknowledge receipt.
|