Circulars/Notifications - Banking Supervision Department  
 BPRD Circular No. 14
April 16, 1999  

All Scheduled Banks

Dear Sirs,

PRUDENTIAL REGULATIONS/RULES OF BUSINESS FOR NBIs

 

 

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.



Yours faithfully,
(Liaqat Durrani)
Additional Director

       
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