1. Please refer to OSED circular letters No. 02 & 03 dated November 28, 2014.

2. Keeping in view the implementation of information technology based banking solutions and improved data processes at banks/DFIs/MFBs, it has been decided to rationalize the quarterly data submission timelines w.e.f. March 31, 2017. The banks/DFIs will upload their quarterly data through DAP4 within 12 working days from the end of each calendar quarter instead of 14 working days.

3. The banks/DFIs/MFBs are advised to take measures for continuous improvement of their database management system to further reduce the data processing and submission timelines in future.

4. The late/non-submission of the data within revised timelines will attract punitive action under the relevant provisions of the Banking Companies Ordinance, 1962 or Microfinance Institutions Ordinance 2001.

All other instructions shall, however, remain unchanged.

Please acknowledge receipt.