Circulars/Notifications  

 BSD Circular No.19
July 01, 2000  

All Banks

Dear Sirs,

MINIMUM MARGIN RESTRICTION ON IMPORT

LETTERS OF CREDIT

Please refer to BPRD Circular No.33 dated the 14th October, 1999 on the above subject as amended from time to time.

In exercise of powers vested in the State Bank of Pakistan under the Banking Companies Ordinance, 1962, and in supersession of all previous instructions on the subject, it has been decided to withdraw the requirement of minimum cash margin on opening of import letters of credit with immediate effect.

Please acknowledge receipt.
Yours faithfully,
Sd/-(Jameel Ahmad)
Director

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