Circulars/Notifications  

 BSD Circular No. 10
March 15, 2001  

The Chief Executives,

All Banks/ NBFIs.

Dear Sirs/ Madam,

PRUDENTIAL REGULATION-XXVII

MINIMUM INFORMATION ON THE BORROWERS

As you are aware that collection and analysis of adequate information on the prospective borrowers helps in expeditious credit processing, minimizing the risk of default and effective monitoring after disbursement of funds. In this context and with a view to streamline the standardization of information regarding credit processing, it has been decided that effective from April 01, 2001, no financing facility whether fund based or non-fund based (including renewal and enhancement) shall be provided by any Bank/ NBFI unless the Loan Application Form (LAF) prescribed by a Bank/ NBFI is accompanied by a “Borrower’s Basic Fact Sheet” as annexed. No financing facility shall be approved unless and until the information requested in the Basic Fact Sheet is provided by the borrower under his seal and signature.

Failure to comply with these instructions will render the Bank/ NBFI and official concerned liable to fines under the provisions of Banking Companies Ordinance, 1962.

Please acknowledge receipt.



Yours faithfully,
(KAZI ABDUL MUKTADIR)
Director

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