Circulars/Notifications - Banking Supervision Department  
 BPRD Circular Letter No. 1
January 5, 2001  

All Banks/NBFIs,

Dear Sirs,

FILING OF REFERENCE UNDER SECTION

31-D OF NATIONAL ACCOUNTABILITY

(SECOND AMENDMENT) ORDINANCE,2000

 

Please refer to our Circular Letter No. 29 dated the 12th October, 2000 on the above subject.

2. Attention is invited to Section 31-D of National Accountability (Second Amendment) Ordinance 2000 in terms of which no inquiry, investigation or proceedings in respect of imprudent loans, defaulted loans or re-scheduled loans shall be initiated or conducted by NAB without reference from the Governor, State Bank, barring cases where references are already pending in accountability courts prior to issuance of amendment. The Banks/NBFIs desirous of initiating any action in the above mentioned areas may forward a reference/complaints to Director, Banking Supervision Department, State Bank of Pakistan alongwith all requisite details to substantiate their claim for review/consideration and submission of case to the Governor, SBP under Section 31-D of NAB (Second Amendment) Ordinance, 2000 for taking approval for filing a formal reference to NAB or otherwise.

3. Banks/NBFIs are advised that all cases requiring NAB action be forwarded to Banking Supervision Department, State Bank of Pakistan on priority basis.

4. Banks/NBFIs shall submit reports giving details of cases referred to Banking Supervision Department on fortnightly basis as per enclosed format starting from the fortnight ending on 15th January, 2001 which should reach the Department within two working days. A "NIL" report shall invariably be sent to the BSD even if any bank/NBFI has not referred any case to SBP during a fortnight.

5. Please acknowledge receipt.

Yours faithfully,
(Kazi Abdul Muktadir)
Director
       
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