As you are aware, the State Bank of Pakistan (SBP) has been making efforts through related regulations, guidelines, instructions, etc. to bring improvement in market conduct to ensure Responsible Banking- a proposition where the interests of consumer, banks and the regulator converge. In order to exert self discipline on banks and promote healthy competition and ethical practices, SBP has developed “Guidelines of Business Conduct for Banks”. The banks are advised to follow these guidelines while dealing with their customers. The Guidelines will also help customers to better understand their rights and responsibilities as well as banks’ responsibilities in serving them.

In order to facilitate readers, related regulations issued by SBP from time to time have also been made part of the attached Guidelines of Business Conduct for Banks, however, their enforceability will remain intact independently as well.

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Enclosure: As above