Circulars/Notifications - Banking Supervision Department  
 BSD Circular No. 28
August 02, 2001 

The Chief Executives,

All NBFIs.

Dear Sirs,

INTERNAL AUDIT
RULE-21 OF THE RULES OF BUSINESS FOR NBFIs

 


It has been decided with immediate effect to substitute the instructions contained in Rule-21 of the Rules of Business for NBFIs as under:

 “All NBFIs shall have an Internal Audit Department. The Head of this Department will report directly to the Board of Directors or to the Audit Committee constituted by the Board. He / she will be interalia, responsible for compliance with these regulations.”

 Please acknowledge receipt.



Yours truly,
(SHOAIB AHMAD)
Senior Joint Director
       
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