Circulars/Notifications  

 IBD Circular Letter No. 02
June 06, 2009

Heads of Islamic Banking Divisions,

Dear Sir / Madam,

Revision of Capital Adequacy Requirement (CAR) For IBBs

           Please refer to clause 7 of Annexure-III of IBD Circular No. 2 of 2004 (read with BPRD Circular No.1 of 2003), regarding Capital Adequacy Ratio (CAR) requirement for Islamic Banking Divisions / Branches of conventional Banks. It has been decided to revise clause 7(i) of IBD Circular No. 2 (Annexure-III) of 2004 immediately as under:-

Clause 7(i):

Islamic Banking Fund / CAR

All conventional Banks having Islamic Banking License for IBBs should maintain a minimum Islamic Banking Fund of Rs 50 million, at any point of time as seed capital and should also maintain Capital Adequacy Ratio (CAR), as applicable on Bank-wide basis, prescribed by SBP from time to time.
All other instructions contained in the said Circular shall remain the same.

Please acknowledge receipt.

Yours faithfully,


Sd
(Pervez Said)
Director

 

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