Please
refer to BSD Circular No. 07 dated March 20, 2008 on
the above subject.
2.
The State Bank of Pakistan (SBP), in exercise of the
powers vested under Section 10 of the Microfinance Institutions
Ordinance 2001, has decided to revise the minimum capital
requirement for Microfinance Banks (MFBs).
3.
Microfinance Banks (MFBs) shall maintain a minimum Paid-up
Capital (free of losses) of not less than
i.
Three hundred million rupees if licensed to operate
in a specified district;
ii. Four hundred million rupees if licensed to operate
in a specified region;
iii. Five hundred million rupees if licensed to operate
in a specified province; and
iv. One billion rupees if licensed to operate at national
level.
4.
The MFBs which do not meet this revised MCR are advised
to enhance their Paid-up Capital (free of losses) according
to the following transitional arrangement
|
Minimum
Paid up capital (free of losses) required as of
|
December
31, 2011 |
December
31, 2012 |
December
31, 2013 |
MFB
licensed to operate at national level |
Rs.600
million |
Rs.
800 million |
Rs.
1 billion |
MFB
licensed to operate at district level |
Rs.
200 million |
Rs.
250 million |
Rs.
300 million |
All other instructions on the subject shall however,
remain unchanged.
Please acknowledge receipt.