The
President(s),
Micro
finance Banks/Institutions/Khushhali Bank
Dear
Sirs, PRUDENTIAL
REGULATIONS FOR MICRO FINANCE BANKS/INSTITUTIONS
In
exercise of the powers conferred under the Khushhali Bank
Ordinance 2000 and Microfinance Institutions Ordinance, 2001,
the State Bank of Pakistan is pleased to issue the Prudential
Regulations for Microfinance Institutions/Banks with the objective
to ensure that the MFIs/MFBs operate in a safe and prudent
manner. The Regulations have been developed after active consultation
with the domestic as well as international Microfinance Practioners/Experts/Consultants
to ensure their responsiveness with the very nature of business
of MFIs/MFBs. These Regulations shall be applicable on operations
of Microfinance Banks / Institutions, including Khushhali
Bank, and shall come into force with immediate effect. These
will replace the existing Microfinance Bank Rules, 2000 circulated
vide BSD Circular No. 29 dated October 13, 2000.
Please
acknowledge receipt.
Encl:
Prudential Regulations for MFIs/MFBs
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