Circulars/Notifications - Banking Supervision Department  
 BSD Circular No. 36
October 10, 2001 

All Banks 

Dear Sirs, 

PREPARATION OF ACCOUNTS AND BALANCE SHEET UNDER SECTION 34 OF THE BANKING COMPANIES
ORDINANCE, 1962

 

In terms of Section 34 of the Banking Companies Ordinance, 1962 the banks are required to prepare their annual accounts in the forms set out in the Second Schedule to the said Ordinance. The existing Second Schedule was previously amended vide BPRD Circular No.31 dated 13th August, 1997. Since then a number of significant developments have taken place on the regulatory front coupled with many additions/amendments in the International Accounting Standards. This has necessitated strengthening of the existing disclosure requirements so as to make the published financial statements of banks more user friendly.

            Accordingly, in exercise of the powers conferred upon it by sub-Section 4 of Section 34 of the Banking companies Ordinance, 1962, the State Bank of Pakistan has amended the existing forms of Accounts and Balance Sheet of banks. The revised forms of Balance Sheet, Profit & Loss Account, Statement of changes in Equity and Cash Flow Statement together with notes forming part thereof are enclosed, which will substitute the existing forms circulated vide BPRD Circular No.31 dated 13th August, 1997. All banks are hereby directed to prepare their annual accounts on the revised forms effective from the accounting year ending 31st December, 2001 and onwards. 

            Please acknowledge receipt.



Encl: As above (In Zip Format)

Yours faithfully,
(Jameel Ahmad)
Senior Joint Director
       
Home
About SBP
Publications
Economic Data
Press Releases
Circulars/Notifications
Laws & Regulations
Monetary Policy
Help Desk
SBP Videos
Feedback
Contact us
What's New?
Speeches
Online Tenders
Web Links

Educational Resources
Regulatory Returns
Library
Rupey ko Pehchano
Events
Zahid Husain Memorial Lecture
Careers
Sitemap
 
Best view Screen Resolution : 1024 * 768
Copyright © 2016. All Rights Reserved.