Circulars/Notifications - Circulars/Notifications    

 BSD Circular No.17
August 28, 2002 


 

The Presidents/Chief Executives

All Banks/NBFIs 

Dear Sirs/Madam,

Rationalization / Discontinuation Of Returns 

The question of streamlining the existing reporting requirements by banks/NBFIs has been under consideration by the State Bank of Pakistan. Our review indicates that there is considerable room for eliminating and consolidating the existing returns. This will free up the resources of the banks and financial institutions to focus on improving the quality, reliability, accuracy and timeliness of data.

2)       We are pleased to inform you that out of the sixty eight reports and returns which are submitted to the Banking Supervision Department and Banking Policy Department, we have decided to eliminate forty (40) reports and returns altogether. Only 28 returns will henceforth be required for submission to these departments in accordance with the following categorization:

Category A  :

 

Returns which will henceforth be submitted to the Banking Supervision Department (total 9 returns as per details on attached Annexure-I). 

Category B  :

Returns which will henceforth be submitted to Banking Policy Department (total 19 returns as per details on attached Annexure-II). 

Category C  :

Returns which will be discontinued with immediate effect (total 40 returns as per details on attached Annexure-III).

3)       The banks/NBFIs are advised to ensure correct submission of the returns mentioned in Annexures I & II, as applicable to them, to Banking Supervision Department and Banking Policy Department respectively. The submission period and other instructions pertaining to these returns shall remain unchanged. 

Please acknowledge receipt.

Encl: As above

Yours faithfully,
-Sd-
(Jameel Ahmad)
Director

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