Circulars/Notifications - Banking Supervision Department  
 BSD Circular No. 1
January 9, 2001  

All Banks.

Dear Sir,

MANTENANCE OF SPECIAL DEPOSIT WITH THE STATE BANK OF PAKISTAN AGANST TIME AND DEMAND LIABILITES.

 

Please refer to BSD Circular No.34 dated 15th December, 2000 whereby Banks were required to maintain with SBP Special Deposit equivalent to 2% of their total Time and Demand Liabilities as of 9th December, 2000.

The said requirement of maintaining Special Deposit of 2% with the SBP has been withdrawn with effect from 11th January, 2001. However, banks shall continue to maintain Statutory Cash Reserve as prescribed vide BSD Circular NO.33 dated 15th December, 2000.

Please acknowledge receipt.


Yours faithfully,
(Kazi Abdul Muktadir)
Director

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