| BPRD
Circular No. 19 |
May 18, 1999 |
All Chief Executives,
All NBFIs
Dear
Sirs,
RULES
OF BUSINESS FOR NBFIs-
MAINTENANCE OF LIQUIDITY
(REDUCTION IN LIQUIDITY RATIO)
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Kindly refer
to Rule 6 of the NBFIs Rules as modified from time to time.
It has been decided
to reduce from 14% to 12% the liquidity ratio of NBFIs with
effect from May 26, 1999. The NBFIs will, however, continue
to maintain with the State Bank of Pakistan a cash reserve
of 1% of the specified liabilities, as at present, Other instructions
of the subject shall, however, remain unchanged.
Please acknowledge receipt.
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| Yours
faithfully,
(Mansur-ur-Rehman Khan)
Director |
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