Circulars/Notifications - Banking Supervision Department  
 BSD Circular No. 8
February 13, 2001  

All Banks

Dear Sirs,

PRUDENTIAL REGULATION XV

 

Please refer to BPRD Circular No.35 dated the 27th October, 1999.

         With a view to encourage the banks to make use of the ATM, it has been decided to substitute the existing Prudential Regulation No. XV on the captioned subject as under :-

"Banks are prohibited from under-taking any business of cash payment at any place other than the authorized place of business except through the installation of Automatic Teller Machine (ATM). Banks desirous of installation of ATM or sharing of ATM facilities with other banks at places other than authorized one for providing the facility  of cash withdrawals may now do so without taking prior approval of the State Bank. Banks shall ,however, be requested to give 15 days advance intimation to the State Bank of Pakistan and in case the State Bank does not convey any reservation on the same during the said 15 days period, it shall be deemed to have approved the same."

Please acknowledge receipt.

Yours faithfully,
(KAZI ABDUL MUKTADIR)
Director
       
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