Dear Sirs/ Madams,

PANEL OF AUDITORS – UNDER SECTION 35(1) OF BANKING COMPANIES ORDINANCE, 1962

Please refer to BSD Circular Letter No. 01 dated February 11, on the subject.

It has been decided to include the following Chartered Accountancy Firm in the Panel of Auditors of State Bank of Pakistan with immediate effect:

Name of the Firm	Category of the Panel
F.R.A.N.T.S. & Co. Chartered Accountants, 16-II, ‘N’ Lane, Commercial Avenue, Phase IV, D.H.A, Karachi. Phone: +92 (021) 35315175; +92 (021) 35315275 Fax: +92 (021) 35315276 E-mail: karachi@frants.pk Website: www.frants.pk	Category ‘B’ – eligible to conduct audit of Banks/ DFIs having total assets (net of contra items) up to Rs. 50 billion or number of branches up to 99.

A copy of the updated Panel of Auditors is enclosed as Annexure-A. All other instructions of the circular remain unchanged.

Please acknowledge receipt.

Encl: Updated Panel of Auditors (Annexure - A)