Circulars/Notifications - Banking Supervision Department  
 BSD Circular Letter No. 29
November 7, 2001  

The Presidents / Chief Executives,

All Banks

Dear Sirs / Madam, 

BANKS CONDITIONS FOR KEEPING INSURERS ON THEIR PANEL 

 

It has come to the notice of State Bank of Pakistan that some banks are demanding placement of deposits from insurance companies as a condition precedent for their enlistment on the banks panel and for the purpose of acquiring business from them which is unjustified. 

Banks are therefore, advised to restrain from demanding compulsory deposits as a prerequisite for enlistment of insurance companies in future failing which action under Banking Companies Ordinance, 1962 shall ensue against them. 

Please acknowledge receipt.



Yours faithfully,
(Kazi Abdul Muktadir)
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.