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
|