Circulars/Notifications - Islamic Banking Department  
 IBD Circular Letter No. 01
April 10, 2009

The Presidents/CEOs/Heads
Islamic Banking Institutions/
Banks having Islamic Banking Divisions,

Dear Sirs,

Submission of Returns to IBD-Revision of MSP

Please refer to IBD Circular Letter No 1 of 2006 on captioned subject and subsequent instructions issued on subject from time to time.

As you are aware that recently parallel run of Quarterly Report of Conditions (QRC) has been called off vide OSED Circular Letter No 1 of 2009. Therefore you are advised to discontinue the submission of paper based QRC Part A, B & C.

Moreover, as per Circular No 1 of 2009 on “Implementation of Islamic Financial Accounting Standard for Ijarah (IFAS 2-Ijarah)” format of Monthly Statement of Position (MSP) has also been revised and attached herewith.

All Islamic banking Institutions are advised to report MSP on new format with effect from April 2009, through email only at [email protected]. All other instructions on the subject remain unchanged.

Enclosed: New format of MSP


Yours faithfully,


Sd
(Pervez Said)
Director

       
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