The
Chief Executive(s),
Micro
finance Institutions
Dear
Sirs,
MICRO
FINANCE INSTITUTIONS
– BRANCH LICENSING
POLICY
In terms of Section 8 of the Microfinance Institutions Ordinance,
2001, the Microfinance Institutions (MFIs) may, with the approval
of State Bank of Pakistan, open new branches/places of business
in the specified areas.
In order to streamline the process of opening / closing
of branches by the Microfinance Institutions the State Bank
of Pakistan has prepared the attached Branch Licensing Policy.
The MFIs shall open/close/shift their branches strictly in
accordance with the said branch licensing policy.
2.
In terms of the attached Branch Licencing Policy, every
Microfinance Institution shall submit to the State Bank an
Annual Branch Expansion Plan (ABEP) at least 30 days before
the commencement of the year to which the plan pertains. However,
the ABEP for the year 2002 may be submitted within one month
of the issue of this circular.
3.
Please acknowledge receipt.
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