In terms of Para-8 of the Government’s Notification dated 28th November, 2005, WAPDA Sukuk has been declared as approved security for the purposes of meeting Statutory Liquidity Requirement (SLR) under Section 29 of the Banking Companies Ordinance, 1962 for banks having Islamic banking licenses either as full-fledged Islamic bank or Islamic banking branch. Accordingly, WAPDA Sukuk will be eligible for counting towards SLR by Islamic Banks (IBs)/Islamic Banking Branches (IBBs).

2. Furthermore, it has been decided to revise the Cash Reserve Requirement (CRR) and Statutory Liquidity Requirement (SLR) for IBs/IBBs as under with immediate effect:-

i) Cash Reserve Requirement (CRR):-
As in the case of conventional banks, IBs / IBBs will maintain CRR of 5% of their time and demand liabilities on weekly average basis subject to daily minimum of 4%.

ii) Statutory Liquidity Requirement (SLR):-
In addition to the CRR, IBs/IBBs will maintain SLR of 8% of their TDL on overall basis, in the form of investment in WAPDA Sukuk not exceeding 5% of their TDL and remaining in the shape of cash balance with State Bank of Pakistan in Special Deposit Account.

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