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Please refer to BPRD Circular No.13 read with BPRD Circular
letter No.35 dated April 9, 1999 and August 5, 1999 respectively
on the captioned subject.
It has been decided that foreign banks operating
in Pakistan may be permitted to undertake Financial and Advisory
Services if their parent company is incorporated in one of
the countries where banking supervision & regulation is
of a standard acceptable to SBP. Accordingly banks eligible
are advised to approach SBP for obtaining necessary prior
clearance for undertaking financial & Advisory services.
Other instructions on the subject shall,
however, remain unchanged.
Please acknowledge receipt.
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