Please refer to BSD circular No. 26 dated October 17, 2008 on the above subject.

2) In terms of Government of Pakistan’s notification issued on December 17, 2008, Sukuks issued by Lahore Electric Supply Company (LESCO), have been notified as Approved Security for the purpose of Statutory Liquidity Requirement (SLR) under Section 29(1) and Section 13(2) of the Banking Companies Ordinance 1962, for banks having Islamic Banking license as full fledged banks or Islamic Banking Branches only to the extent of 5% of their Demand and Time Liabilities.

3) All other instructions on the subject shall remain unchanged.

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