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Total No of records found 732

NEW GUIDELINES ON WRITE OFF OF IRRECOVERABLE
This is a BPD Circular Letter issued in 2003.
http://www.sbp.org.pk/bpd/2003/CL14.htm

PUBLIC HOLIDAY
This is a BPD Circular Letter issued in 2003.
http://www.sbp.org.pk/bpd/2003/CL15.htm

AGRICULTURAL LOANS SCHEME-COMPREHENSIVE CIRCULAR
State Bank of Pakistan, have to ensure availability of the adequate and timely banking credit to the Agricultural Sector, besides creating awareness and uplifting the living standard of the rural community.
http://www.sbp.org.pk/acd/CL8.htm

FARM LOANS HELP DESK
ACD helpdesk shifted on 1st floor, State Bank of Pakistan, Boulton Market Building, Karachi.
http://www.sbp.org.pk/acd/C1.htm

FARM LOANS HELP DESK
ACD helpdesk shifted on 1st floor, State Bank of Pakistan, Boulton Market Building, Karachi.
http://www.sbp.org.pk/acd/C1.htm

Wheat Procurement By The Private Sector
the Governor, State Bank of Pakistan, has been pleased to allow the banks to provide adequate funds / financing as agricultural loans for a period upto 5 - 7 years to eligible flour mills and farmers for the construction of silos and other structures that can serve as storage area for procurement of wheat at a debt equity ratio of 60:40 (Bank:Borrower) and 12% mark-up rate.
http://www.sbp.org.pk/acd/C1-2002.htm

Supervised Agricultural Credit Scheme
In order to meet the increased demand for development loans under the Agricultural Mandatory Credit Targets of the commercial banks, it has been decided to withdraw the existing maximum limit of 15% for development loans against the total mandatory credit targets (Main Agriculture) of a bank fixed by the State Bank of Pakistan with immediate effect.
http://www.sbp.org.pk/acd/C2.htm

Supervised Agricultural Credit Scheme
In order to meet the increased demand for development loans under the Agricultural Mandatory Credit Targets of the commercial banks, it has been decided to withdraw the existing maximum limit of 15% for development loans against the total mandatory credit targets (Main Agriculture) of a bank fixed by the State Bank of Pakistan with immediate effect.
http://www.sbp.org.pk/acd/C2.htm

IMPLEMENTATION STATUS OF SBP GUIDELINES ON WRITE-OFF
This is a BPD Circular Letter issued in 2003.
http://www.sbp.org.pk/bpd/2003/CL1.htm

PUBLIC HOLIDAY
This is a BPD Circular Letter issued in 2003.
http://www.sbp.org.pk/bpd/2003/CL3.htm

PUBLIC HOLIDAY
This is a BPD Circular Letter issued in 2003.
http://www.sbp.org.pk/bpd/2003/CL4.htm

PURPORTED PLEDGE OF SHARES BY SPONSOR DIRECTORS
This is a BPD Circular Letter issued in 2003.
http://www.sbp.org.pk/bpd/2003/CL2.htm

PUBLIC HOLIDAY
This is a BPD Circular Letter issued in 2003.
http://www.sbp.org.pk/bpd/2003/CL5.htm

LIST OF SCHEDULED BANKS/DFIs OPERATING IN PAKISTAN
This is a BPD Circular Letter issued in 2003.
http://www.sbp.org.pk/bpd/2003/CL6.htm

CLARIFICATION- SBP GUIDELINES ON WRITE-OFF
This is a BPD Circular Letter issued in 2003.
http://www.sbp.org.pk/bpd/2003/CL7.htm

CONSTITUTION OF SBP COMMITTEE FOR RESOLUTION OF CASES
This is a BPD Circular Letter issued in 2003.
http://www.sbp.org.pk/bpd/2003/CL8.htm

PUBLIC HOLIDAYS
This is a BPD Circular Letter issued in 2003.
http://www.sbp.org.pk/bpd/2003/CL9.htm

FIT AND PROPER TEST FOR APPOINTMENT OF
This is a BPD Circular Letter issued in 2003.
http://www.sbp.org.pk/bpd/2003/CL10.htm

Credit facilities for establishment of new flour mills
This is a BPD Circular Letter issued in 2003.
http://www.sbp.org.pk/bpd/2003/CL11.htm

EXTENSION OF EXPIRY DATE ? SBP GUIDELINES ON WRITE OFF ISSUED VIDE BPD CIRCULAR NO.29
This is a BPD Circular Letter issued in 2003.
http://www.sbp.org.pk/bpd/2003/CL12.htm

NEW GUIDELINES ON WRITE OFF OF IRRECOVERABLE
This is a BPD Circular Letter issued in 2003.
http://www.sbp.org.pk/bpd/2003/CL13.htm

Agricultural Loan Scheme-List Of Eligible Items For Agricultural Credit
Finances made by the banks to the Leasing Companies for providing agricultural equipments / machines on leasing / rental / hiring basis to the growers / farmers shall be treated as part of banks? mandatory targets for agriculture. Banks are allowed to provide finances for processing of high quality seeds to the Seed Processing Units. Such financing shall also be treated as part of banks? mandatory targets for agriculture.
http://www.sbp.org.pk/acd/C3.htm

Standardization and Simplification of Agriculture Credit Documents
Documents have been accepted unanimously for financing of different categories of agricultural loans.
http://www.sbp.org.pk/acd/C5.htm

IMPLEMENTATION STATUS OF SBP GUIDELINES ON WRITE-OFF
This is a BPD Circular Letter issued in 2003.
http://www.sbp.org.pk/bpd/2003/CL1.htm

Systematization Information Regarding Write Off Cases
State Bank is required to submit to the Federal Government, a special report every year on loans.
http://www.sbp.org.pk/bid/3-Sep-2001.htm

Prior Clearance Of State Bank For Appointment Of Chairman/ President/Managing Director/Chief Executive ? Members Board Of Directors Of Banks/DFIs
Prior clearance of SBP for appointments.
http://www.sbp.org.pk/bpd/2002/CL3.htm

List Of Scheduled Banks/NBFIs Operating In Pakistan
Updated list Of Scheduled Banks/NBFIs operating in Pakistan
http://www.sbp.org.pk/bpd/2002/CL6.htm

Prevention Of Money Laundering And Other Unlawful Trades/Activities
Increasing efforts are being made across the globe to ensure that the banks are not used as a mean to facilitate money laundering and other unlawful activities. In this regard, the central banks the world over are stressing more on the preventive techniques like ?Know Your Customer? (KYC) and enhanced due diligence.
http://www.sbp.org.pk/bpd/2002/CL7.htm

Procedure To Be Followed In Issunig 30 Days Demand Notice By The Banks, DFIs And Financial Institutions To The Loan Defaulter ?7 Days Notice By The Governor, State Bank Of Pakistan
Procedure to be followed in issuing 30days demand notice by banks, DFIs and financial institutions to the loan defaulter.
http://www.sbp.org.pk/bpd/2002/CL8.htm

Filing Of Reference Under Section 31-D Of National Accountability (Second Amendment) Ordinance, 2000
Filing Of Reference Under Section 31-D Of National Accountability (Second Amendment) Ordinance, 2000.
http://www.sbp.org.pk/bpd/2002/CL9.htm

Encouragement Of Mechanized Farming-Financing For Tractors
Request to please ensure that all necessary steps are taken to encourage mechanized farming in the country by making tractor financing to the needy farmers.
http://www.sbp.org.pk/acd/CL4.htm

Export-Refinance/Credit Financing to Exporters of Information Technology (I.T) and I.T related Services
Export-Refinance/Credit Financing to Exporters of Information Technology (I.T) and I.T related Services.
http://www.sbp.org.pk/bid/CL2.htm

No Subject
Mr. Amer Aziz has assumed charge as Director, Banking Inspection Department, State Bank Of Pakistan, Karachi with effect from 8th July 2003(F.N)
http://www.sbp.org.pk/bid/C2-03.htm

No Subject
Banking Inspection Department has been shifted to 7th floor, Main Building of State Bank on I.I Chundrigar Road.
http://www.sbp.org.pk/bid/C1-03.htm

New Phone Numbers of BID-I
New Phone Numbers of BID-I
http://www.sbp.org.pk/bid/circular_01_2001.pdf

Export Finace Scheme - Limit For 2002-2003
Banks are required to submit application for approval of refinance limits based on their equity. In order to avoid difficulties in providing export finance under the Scheme, it has been decided to allow continuation of limits granted to banks beyond 30th June, 2002 at the level of limits for the year 2001 ? 2002 sanctioned and advised to banks.
http://www.sbp.org.pk/bpd/2002/CL11.htm

Consumer Financing At Low Interest Rates
Government of Pakistan has taken various initiatives to promote Information Technology education in Pakistan especially at grass root level. In this regard Ministry of Science and Technology has initiated, programmes for training of teachers throughout the country. These programmes are expected to result in a tremendous increase in demand for purchase of computers through consumer/personal loans from the banking system.
http://www.sbp.org.pk/bpd/2002/CL12.htm

Simplifying And Streamlining The Procedure For Collection Of Utility Bills
For simplifying and streamlining the procedure for collection of utility bills, it has been decided that the banks shall henceforth collect utility bills during the Office Hours.
http://www.sbp.org.pk/bpd/2002/CL10.htm

Export Finance Scheme-Reduction In Rates Repricing Of Outstanding Loans
Reference to the instructions issued on Export Finance Scheme-reduction in rates repricing of outstanding loans from time to time.
http://www.sbp.org.pk/bpd/2002/C2.htm

Confidentiality / Secrecy Of SBP Inspection Reports-Violation Of
Attention is drawn to para 46A of the State Bank of Pakistan Act, 1956 as amended from time to time.
http://www.sbp.org.pk/bid/9-oct-02.htm

Systematization Information Regarding Write Off Cases
State Bank is required to submit to the Federal Government, a special report every year on loans.
http://www.sbp.org.pk/bid/3-Sep-2001.htm

Special U.S. Dollar Bonds-Procedure Thereof
Regarding transfer of Registered catetory of SUSDB from one person to another. In this context please find appended procedure of transfer for your information and compliance. Transfer application filled in & signed by the transferor and transferee shall be received alongwith attested photogcopies of their N.I.C. at the issuing office of the SUSDB.
http://www.sbp.org.pk/bid/sd30nov.htm

Classification of Seasonal & Production Loans For Capital
Guidelines for classification of Seasonal Advances.
http://www.sbp.org.pk/bid/sd_13102k.htm

Writing Off Of Irrecoverable Loans / Advances
In order to curb the rising trend of writing off of loans, mark-up and other dues by banks, following guidelines are issued for meticulous compliance.
http://www.sbp.org.pk/bid/sd_02062k.htm

Revolving Credit Scheme for Agriculture
Enhancing / revamping the scope & eligibility criteria under the Supervised Agricultural Credit Scheme . 3 years revolving credit with automatic renewal, one time documentation, partial repayments and annual cleaning of account (Principal and Markup) at any date convenient to the Borrower.
http://www.sbp.org.pk/acd/C6.htm

Wheat Procurement By The Private Sector
Circular issued for clarifications regarding disbursement of Agricultural Loans by the banks to the farmers / flour mills for construction of wheat godowns / silos in the country and deregulation of Wheat Trade.
http://www.sbp.org.pk/acd/CL2.htm

Wheat Procurement By The Private Sector
Look into the matter personally and take necessary measures to ensure disbursement of agricultural loans by your banks to needy farmers / flour mills for construction of wheat godowns / silos subject to completion of required formalities.
http://www.sbp.org.pk/acd/CL1.htm

Supply Of Data On Financing Of Tractors
For providing finance to the needy farmers for purchase of tractors you are requested to provide us the said information in respect of your bank on the revised proforma `T?.
http://www.sbp.org.pk/acd/CL3.htm

Agricultural Loans Scheme- Comprehensive Circular
Efforts have been made to consolidate all circulars/instructions/rules etc. on the Agricultural Loans Scheme. However, there is a possibility that some of the circulars/instructions may have been missed. We shall appreciate your cooperation and suggestions, in this regard, to keep this comprehensive circular up-to-date. Help Desk is available at SBP Boulton Market Building, M.A. Jinnah Road, Karachi with Telephone Nos. 021/9217216, 021/9217214, 021/9217220 and Fax No. 021/9217215.
http://www.sbp.org.pk/acd/CL8.htm

Scheme For Financing Locally Manufactured Machinery - ( Local Sales )
Reference to ICD Circular No.10 dated 29th October, 1995 along with other instructions issued on Scheme For Financing Locally Manufactured Machinery - ( Local Sales ).
http://www.sbp.org.pk/bpd/2002/C1.htm

Directive Under Banking Companies Ordinance, 1962 ? Minutes Of The Board Of Directors Meeting
From now onwards the required information may be sent to the Director, Banking Supervision Department, State Bank of Pakistan, Karachi.
http://www.sbp.org.pk/bpd/2002/CL13.htm

Bank Holiday
The State Bank of Pakistan will remain closed for public dealing on Monday the 1st July, 2002 declared as bank holiday.
http://www.sbp.org.pk/bpd/2002/CL14.htm

Fit & Proper Test For Appointment Of President/ Chief Executive And Board Of Directors
Reference to our BPD Circular No. 16 dated 29th June, 2002 on the captioned subject. The clause (5) of the above Circular i.e. ?Conflict of Interest? has been amended/substituted as under:-
http://www.sbp.org.pk/bpd/2002/CL27.htm

Public Holiday
Public Holiday
http://www.sbp.org.pk/bpd/2002/CL26.htm

Business And Office Hours During The Month Of Ramzan-Ul-Mubarak
Business and office hours during the month of ramzan-ul-mubarak
http://www.sbp.org.pk/bpd/2002/CL29.htm

Bank Holiday
Bank Holiday
http://www.sbp.org.pk/bpd/2002/CL30.htm

Public Holiday
Public Holiday
http://www.sbp.org.pk/bpd/2002/CL31.htm

BPD Circular Letter No.32
The Federal Government vide their notification No.F.3(9)-Bkg.I/99 dated 11th November, 2002 has re-appointed Dr. Ishrat Husain, as Governor, State Bank of Pakistan for another period of three years with effect from 2nd December, 2002 in pursuance of Section 10(3) of the SBP Act, 1956.
http://www.sbp.org.pk/bpd/2002/CL32.htm

Implementation Of Sbp Guidelines On Write-Off Of Irrecoverable Loans And Advances
Reference to BPD Circular No. 29 dated October 15, 2002 regarding guidelines on write-off of irrecoverable loans and advances.
http://www.sbp.org.pk/bpd/2002/CL33.htm

Clarification? SBP Guidelines On Write-Off Of Irrecoverable Loans And Advance
Reference to BPD Circular No. 29 dated October 15, 2002 regarding guidelines on write-off of irrecoverable loans and advances.
http://www.sbp.org.pk/bpd/2002/CL37.htm

Prudential Regulations for Banks
The State Bank of Pakistan for the last few years has been consolidating the Prudential Regulations for banks in the form of booklet. The fourth updated edition of this series consolidating therein all the amendments has been got printed and issued herewith for ease of reference.
http://www.sbp.org.pk/bpd/2002/C3.htm

Guidelines for Ineligibility to act as Director of Bank/NBFI
Guidelines for ineligibility to act as Director of Bank/NBFI. Please refer to BSD Circular Letter No.1 of 1-1-2002 concerning prior clearance of State Bank for appointment of Chairman/President/Managing Director/Chief Executive/Member Board of Directors of Banks/NBFIs. Banks/NBFIs having directors on their boards who do not fulfill the criteria prescribed hereinabove are asked to regularize their position by 31st July, 2002.
http://www.sbp.org.pk/bpd/2002/CL15.htm

Export Finance Scheme Part I-Modification
In order to avoid recovery of fine for non shipment un-necessarily where exporter might have made full or part shipment, but the documents there-against could not be submitted to their bankers in time, it has been decided that the bank concerned shall invariably issue a 7 DAYS NOTICE to the exporter concerned through mail / fax before imposition of such fine in future.
http://www.sbp.org.pk/bpd/2002/CL16.htm

Export Finance Scheme ? `Negative List?
It is clarified that Asafoetida (Hing - H.S. Code 1301.90) and Lithospermum Vestitum (Rattan Jot - HS Code 1401.20) presently falling under Crude Vegetable Material of the Negative List are eligible items / commodities for concessionary finance facilities under Export Finance Scheme.
http://www.sbp.org.pk/bpd/2002/CL17.htm

All Banks
Incidences have been brought to the notice of State Bank of Pakistan that some branch managers have opened accounts without proper identification of the new account holder.
http://www.sbp.org.pk/bpd/2002/CL18.htm

Collection Of Crossed Cheques
It has come to the notice of State Bank of Pakistan that some banks follow the practice of crediting their ?CDS Miscellaneous? or ?Suspense Accounts? with the proceeds of erroneously received cheques. This is against the banking practice and makes the bonafide parties/ payees to suffer.
http://www.sbp.org.pk/bpd/2002/CL22.htm

The Chief Executives/Presidents, All Banks NBFIs
It has been brought to the notice of State Bank of Pakistan that some banks and their offices have e-mailed instructions reportedly issued by SBP, regarding declaration of Saturday as a Gazetted Holiday, to their offices and through their friends to other banks, referring to a so called Circular Letter No. 23 dated 08-08-2002, purportedly issued by State Bank without confirming the legitimacy of the same from their Head Office.
http://www.sbp.org.pk/bpd/2002/CL21.htm

Personal guarantee of the Directors of Private Limited Companies
Please refer to the instructions contained in BSD Circular Letter No. 21 dated the 23rd August 2001, regarding the submission of personal guarantee of the Directors of private limited company. In this regard, following clarifications are issued for guidance of the banks on the subject.
http://www.sbp.org.pk/bpd/2002/CL19.htm

Employment Of State Bank Personnel In Banks/NBFIs
Instances have come to the notice of the State Bank where the Banks/NBFIs have entertained applications/selected employees of the State Bank without asking for a ?No Objection Certificate? from SBP or seeking the application through proper channel.
http://www.sbp.org.pk/bpd/2002/CL23.htm

Export Finance Scheme
Please refer to the BSD Circular No. 6 dated 13th April 2002 in terms of which export finance facilities were extended under the captioned Scheme for export of Brown Rice in bulk /loose to the European Countries against sight LCs only.
http://www.sbp.org.pk/bpd/2002/CL24.htm

Verification Of Antecedents Of Persons Seeking Employment In Banks / NBFIs
Instances have come to the notice of State Bank, where Banks / NBFIs have appointed persons despite their involvement in fraud and forgery cases with their previous employers. This appears to be due to the non-availability of standard procedure amongst financial institutions for ascertaining the antecedents of persons seeking entry in bank / NBFI service.
http://www.sbp.org.pk/bpd/2002/CL25.htm

Deposit Mobilization Schemes
Please refer to para v of BPRD Circular No.29 dated 13th July, 1999 wherein the banks/NBFIs were allowed to develop and expand their deposit mobilization efforts based on explicitly stated expected rates of return and provision of additional and more efficient financial services to the depositors.
http://www.sbp.org.pk/bpd/2002/CL28.htm

Export Finance Scheme ? Re-Fixation Of Rates For The Month Of June, 2002
Please refer to BPD Circular No. 07 dated 27th April, 2002 alongwith other instructions issued on the captioned subject from time to time.
http://www.sbp.org.pk/bpd/2002/C14.htm

Export Finance Scheme-Refixation Of Rates
Please refer to BPD Circular No. 14 dated 30th May 2002 alongwith other instructions issued on the captioned subject from time to time.
http://www.sbp.org.pk/bpd/2002/C15.htm

Prudential Regulation-I Limit On Bank?s Exposure To A Single Person
Please refer to the Prudential Regulations for Banks as amended from time to time.
http://www.sbp.org.pk/bpd/2002/C10.htm

Fit And Proper Test For Appointment Of President/Chief Executive And Board Of Directors
In order to promote good corporate governance and to encourage President/Chief Executive and Board of Directors to play an effective role for the capacity building of their institution certain guidelines under ?Fit & Proper Test? have been formulated for the appointment of President/Chief Executive and filling of the vacancy of Director on the Board.
http://www.sbp.org.pk/bpd/2002/C16.htm

Export Finance Scheme-Refixation of Rates
Reference to BPD Circular No. 19 dated 30th July 2002 alongwith other instructions issued from time to time on the captioned subject.
http://www.sbp.org.pk/bpd/2002/C22.htm

Export Finance Scheme- Non Performance By The Exporters ? Procedure For Refund Of Fine
Please refer to the captioned Scheme circulated vide BPRD Circular No.44 of 1998 and BSD Circular No.35 dated 28th September, 2001 along with subsequent modifications made therein from time to time.
http://www.sbp.org.pk/bpd/2002/C23.htm

Maintenance Of Current Assets To Current Liabilities Ratio Prudential Regulation-V / Rule-8(A) Of The Rules Of Business For NBFIs
Please refer to the instructions contained in para 1 of Prudential Regulation-V and Rule-8(a) of Rules of Business for NBFIs in terms of which banks / NBFIs are required to ensure that the ratio of current assets to current liabilities of a borrower must not be lower than 1:1.
http://www.sbp.org.pk/bpd/2002/C5.htm

Issuance Of Rupee Traveller Cheques (RTC)
It has come to the notice of the State Bank that higher denominated Rupee Traveller Cheques issued by the banks are being advertised and used as a mode of settlement, primarily for undocumented transactions, instead of the purpose for which they are created i.e. to facilitate travel and/or travel related purposes.
http://www.sbp.org.pk/bpd/2002/C12.htm

Rules of Business for NBFIs
State Bank of Pakistan for the last few years has been consolidating the Rules of Business for NBFIs in the form of booklet. An updated edition of this series consolidating therein all the amendments upto March 31, 2002 has been got printed and issued herewith for ease of reference. In addition to this, the updated edition of this booklet has also been placed at our web-site www.sbp.org.pk and can be accessed / downloaded at any time.
http://www.sbp.org.pk/bpd/2002/C13.htm

Export Finance Scheme - Relaxation to exporters
A large number of representations have been received from the exporters that as a result of adverse global effects and other abnormal situations with specific reference to Pakistan in the past one year, they have unable to fulfill their export orders as per respective schedule.
http://www.sbp.org.pk/bpd/2002/C24.htm

Scheme for Financing Locally Manufactured Machinery (Local Sales)
Please refer to BPD Circular No. 1 dated the 15th March, 2002 on the subject of Scheme for Financing Locally Manufactured Machinery (Local Sales).
http://www.sbp.org.pk/bpd/2002/C25.htm

Seeking Clarification On SBP Instructions/ Circulars
It has been noticed time and again that queries/clarifications relating to circulars/ circular letters/ instructions issued by SBP are sought directly either by field functionaries or different officers of Banks/DFIs without in-depth study of the instructions and knowledge of concerned Head of the Department/Group of the Bank/DFI.
http://www.sbp.org.pk/bpd/2002/C32.htm

Hypothecation Against Consumer Financing
State Bank is in the process of formulating instructions/guidelines for consumer financing to encourage and facilitate banks to take exposure in the subject area with prudent banking practices.
http://www.sbp.org.pk/bpd/2002/C27.htm

Export Finance Scheme-Refixation Of Rates For October, 2002
Reference to BPD Circular No. 22 dated 30th August, 2002 alongwith other instructions issued from time to time on the subject Export Finance Scheme-Refixation Of Rates For October, 2002.
http://www.sbp.org.pk/bpd/2002/C26.htm

Prudential Regulation-XXVIII Foreign Currency Deposits Under Fe 25-1998
Please refer to BSD Circular No. 19 dated March 31, 2001 on the captioned subject. It has been decided with immediate effect to withdraw para `b?* of the referred Circular, whereby banks / NBFIs were prohibited from offering rate of return on such deposits exceeding the LIBOR.
http://www.sbp.org.pk/bpd/2002/C17.htm

Financing for Consumer Durables
SBP has been endeavoring to promote consumer financing in Pakistan. It has been decided to allow banks to provide financing facilities to general public (individuals) for purchase of consumer durables.
http://www.sbp.org.pk/bpd/2002/C18.htm

Export Finance Scheme-Refixation Of Rates
Reference to BPD Circular No. 15 dated 28th June 2002 alongwith other instructions issued on Export Finance Scheme-Refixation Of Rates from time to time.
http://www.sbp.org.pk/bpd/2002/C19.htm

Export Finance Scheme
Please refer to BSD Circular No.32 dated December 7, 2000 in terms of which export finance facilities were interalia, extended to Brown Rice in packing of 1-50 KG under the captioned Scheme.
http://www.sbp.org.pk/bpd/2002/C6.htm

Export Finance Scheme-Refixation Of Rates
Reference the to BSD Circular No. 11 dated 26th February 2002 alongwith other instructions issued on the subject of Export Finance Scheme-Refixation Of Rates.
http://www.sbp.org.pk/bpd/2002/C4.htm

Export Finance Scheme Re-fixation of Rates for the Month of May, 2002
Please refer to BPD Circular No. 04 dated 30th March 2002 alongwith other instructions issued on the captioned subject from time to time.
http://www.sbp.org.pk/bpd/2002/C7.htm

Prudential Regulation-XXVI ? Credit Rating
Please refer to the Prudential Regulations for Banks circulated vide BPD Circular No.3 dated March 22, 2002.
http://www.sbp.org.pk/bpd/2002/C8.htm

Prudential Regulation-XXVI ? BPRD Circular No. 15 Of 2000 On Credit Rating
Please refer to the Prudential Regulation-XXVI circulated vide BPRD Circular No.15 dated June 6, 2000 on the captioned subject.
http://www.sbp.org.pk/bpd/2002/C9.htm

Rules of Business for NBFIs
Please refer to the Rules of Business for NBFIs as amended from time to time. It has been decided with immediate effect to substitute the existing Rule-9 of the Rules of Business for NBFIs.
http://www.sbp.org.pk/bpd/2002/C11.htm

Assets Securitization through Special Purpose Vehicle (SPV)
State Bank of Pakistan has received requests from a number of financial institutions desirous of performing various roles in assets securitization transactions through special purpose vehicle.
http://www.sbp.org.pk/bpd/2002/C31.htm

Statement of Accounts
It has been reported to SBP that customers of the banks are not receiving periodical statement of accounts in time with the result that they are not aware of the exact balance in their accounts. Due to this, in the recent past, there has been a spate of fraudulent withdrawal of money from the accounts of banks? customers by some unscrupulous users, sometimes in connivance with the staff.
http://www.sbp.org.pk/bpd/2002/C21.htm

Mandatory Connectivity to two ATM Switches
In order to introduce enabling technologies in the financial sector of Pakistan to promote E-Commerce, the Government of Pakistan has developed a strategy towards the automation of payment system in the financial sector with the assistance of ECH Task Force.
http://www.sbp.org.pk/bpd/2002/C20.htm

Assets Securitization through Special Purpose Vehicle (SPV)
State Bank of Pakistan has received requests from a number of financial institutions desirous of performing various roles in assets securitization transactions through special purpose vehicle.
http://www.sbp.org.pk/bpd/2002/C31.htm

Hypothecation Against Consumer Financing
State Bank is in the process of formulating instructions/guidelines for consumer financing to encourage and facilitate banks to take exposure in the subject area with prudent banking practices.
http://www.sbp.org.pk/bpd/2002/C27.htm

Export Finance Scheme- Relaxation To Exporters
Please refer to BPD Circular No. 24 dated the 11th September, 2002 on the captioned subject in terms of which relaxations were allowed to the exporters under provisions of the Export Finance Scheme.
http://www.sbp.org.pk/bpd/2002/C28.htm

Export Finance Scheme- Non Performance By The Exporters ? Procedure For Refund Of Fine
Please refer to the captioned Scheme circulated vide BPRD Circular No.44 of 1998 and BSD Circular No.35 dated 28th September, 2001 along with subsequent modifications made therein from time to time.
http://www.sbp.org.pk/bpd/2002/C23.htm

Export Finance Scheme ? Refixation of rates for November, 2002
Please refer to BPD Circular No. 26 dated 28th September, 2002 alongwith other instructions issued from time to time on the captioned subject.
http://www.sbp.org.pk/bpd/2002/C30.htm

Hypothecation Against Consumer Financing
State Bank is in the process of formulating instructions/guidelines for consumer financing to encourage and facilitate banks to take exposure in the subject area with prudent banking practices.
http://www.sbp.org.pk/bpd/2002/C27.htm

Hypothecation Against Consumer Financing
State Bank is in the process of formulating instructions/guidelines for consumer financing to encourage and facilitate banks to take exposure in the subject area with prudent banking practices.
http://www.sbp.org.pk/bpd/2002/C27.htm

Export Finance Scheme ? Refixation of rates for December, 2002
Please refer to BPD Circular No. 30 dated 30th October, 2002 alongwith other instructions issued from time to time on the captioned subject.
http://www.sbp.org.pk/bpd/2002/C34.htm

Fit And Proper Test For Appointment Of President/ Chief Executive And Board Of Directors
In order to promote good corporate governance and to encourage President/Chief Executive and Board of Directors to play an effective role for the capacity building of their institution, certain guidelines under ?Fit & Proper Test? have been formulated separately for the appointment of President/Chief Executive and filling of the vacancy of Director on the Board vide BPD Circular No. 16 dated 29th June, 2002 and Circular Letter No. 27 dated 14th October, 2002.
http://www.sbp.org.pk/bpd/2002/C35.htm

Branch Licensing Policy
Please refer to BSD Circular No.11 dated 17th March 2001 enclosing therewith revised Branch Licensing Policy effective from 1st April 2001 and BSD Circular letters No. 22 & 23 dated 29th August and 28th September 2001 respectively on the captioned subject .
http://www.sbp.org.pk/bpd/2002/C36.htm

Export Finance Scheme ? Refixation of rates for January, 2003
Please refer to BPD Circular No. 34 dated 29th November, 2002 alongwith other instructions issued from time to time on the captioned subject.
http://www.sbp.org.pk/bpd/2002/C37.htm

Financing Facilities By State Bank (Reduction In Repo Rate)
Please refer to BSD Circular No.03 dated the 22nd January, 2002 through which the above rate has been reduced from 10% to 9% on annual basis.
http://www.sbp.org.pk/bpd/2002/C33.htm

Seeking Clarification On SBP Instructions/ Circulars
It has been noticed time and again that queries/clarifications relating to circulars/ circular letters/ instructions issued by SBP are sought directly either by field functionaries or different officers of Banks/DFIs without in-depth study of the instructions and knowledge of concerned Head of the Department/Group of the Bank/DFI.
http://www.sbp.org.pk/bpd/2002/C32.htm

Export Finance Scheme- Relaxation To Exporters
Please refer to BPD Circular No. 24 dated the 11th September, 2002 on the captioned subject in terms of which relaxations were allowed to the exporters under provisions of the Export Finance Scheme.
http://www.sbp.org.pk/bpd/2002/C28.htm

Assets Securitization through Special Purpose Vehicle (SPV)
State Bank of Pakistan has received requests from a number of financial institutions desirous of performing various roles in assets securitization transactions through special purpose vehicle.
http://www.sbp.org.pk/bpd/2002/C31.htm

Export Finance Scheme ? Refixation of rates for November, 2002
Please refer to BPD Circular No. 26 dated 28th September, 2002 alongwith other instructions issued from time to time on the captioned subject.
http://www.sbp.org.pk/bpd/2002/C30.htm

Export Finance Scheme- Non Performance By The Exporters ? Procedure For Refund Of Fine
Please refer to the captioned Scheme circulated vide BPRD Circular No.44 of 1998 and BSD Circular No.35 dated 28th September, 2001 along with subsequent modifications made therein from time to time.
http://www.sbp.org.pk/bpd/2002/C23.htm

Credit Policy- Housing Finance
Please refer to BSD Circular Letter No.16 dated 13th July, 2001, on the captioned subject. To further facilitate banks to develop and market their housing finance products for encouraging early homeownership through housing finance the above circular letter has been substituted as in this circular letter.
http://www.sbp.org.pk/bpd/2003/CL18.htm

VERIFICATION OF ANTECEDENTS OF PERSONS
Please refer to BPD Circular Letter No. 25 dated 6th September, 2002 wherein the banks/NBFIs were advised to discourage the entry of persons who have been involved in fraud & forgery cases with their previous employers.
http://www.sbp.org.pk/bpd/2003/CL17.htm

PUBLIC HOLIDAY
Public Holiday on 15th May, 2003 being public holiday declared by the Government of Pakistan on account of Eid Milad-un-Nabi (SAW) - (12th Rabi-ul-Awal).
http://www.sbp.org.pk/bpd/2003/CL16.htm

IMPLEMENTATION OF SBP GUIDELINES ON WRITE-OFF |OF IRRECOVERABLE LOANS AND ADVANCES
Please refer to our BPD Circular No. 29 dated October 15, 2002 regarding SBP guidelines on write-off of irrecoverable loans and advances. The SBP Scheme has already expired on June 30, 2003.
http://www.sbp.org.pk/bpd/2003/CL23.htm

PUBLIC HOLIDAY
Public Holiday on Thursday 14th August, 2003 being public holiday declared by the Government of Pakistan on account of Independence Day.
http://www.sbp.org.pk/bpd/2003/CL24.htm

Prudential Regulation # XIII - Review of the Instructions on Service Charges on PLS Deposit Account
Please refer to BPD Circular No. 23 dated July 04, 2003 on the captioned subject.
http://www.sbp.org.pk/bpd/2003/CL25.htm

Implementation Status Of SBP Guidelines On Write-Off Of Irrecoverable Loans And Advances
Please refer to BPD Circular No. 29 dated October 15, 2002 regarding guidelines on write-off of irrecoverable loans and advances.
http://www.sbp.org.pk/bpd/2003/CL1.htm

Constitution Of SBP Committee For Resolution Of Cases under SBP Guidelines On Write-Off
Please refer to para 17 of BPD Circular No. 29 dated October 15, 2002 in terms of which the disputes that may arise between the borrower and the Bank/DFI will be resolved through ?SBP Committee?.
http://www.sbp.org.pk/bpd/2003/CL8.htm

Clarification- SBP Guidelines On Write-Off Of Irrecoverable Loans and Advances
Please refer to BPD Circular No. 29 dated October 15, 2002 and subsequent BPD Circular Letter No. 37 dated December 26, 2002 on the captioned subject.
http://www.sbp.org.pk/bpd/2003/CL7.htm

BPD Circular Letter No. 27
Please refer to BPD Circular No. 19 dated the 25th June, 2003 on the above subject.
http://www.sbp.org.pk/bpd/2003/CL27.htm

Policies for Promotion of Islamic Banking
In order to promote Islamic Banking in Pakistan, State Bank is following a three-pronged strategy as under:
http://www.sbp.org.pk/bpd/2003/C1.htm

Extension in Settlement Date- SBP Guidlines on write-off of Irrecoverable Loans and Advances
Please refer to BPD Circular Letter No. 23 dated July 4, 2003 wherein all banks/DFIs were advised to settle/ decide all cases received under the above scheme by 31-08-2003.
http://www.sbp.org.pk/bpd/2003/CL26.htm

PRINTING OF CHEQUES ? TECHNICAL SPECIFICATION
Instances have been noted during the recent past that paper used in printing of cheque books & security stationery do not conform to CBS-1 specifications resulting in its misuse for fraudulent purposes.
http://www.sbp.org.pk/bpd/2003/C19.htm

Export Finance Scheme ? Refixation of rates for June, 2003
Please refer to BPD Circular No.14 dated 30th April, 2003 alongwith other instructions issued from time to time on the captioned subject.
http://www.sbp.org.pk/bpd/2003/C18.htm

PRUDENTIAL REGULATION-XXVI - CREDIT RATING
Prudential Regulation-XXVI makes it mandatory for all the Banks / DFIs to get themselves credit rated within four months of closing of the financial year and submit the report to State Bank within seven days of the issuance of notification.
http://www.sbp.org.pk/bpd/2003/C17.htm

PUBLIC HOLIDAY
Public Holiday on Thursday the 1st May, 2003 being public holiday declared by the Government of Pakistan on account of May Day.
http://www.sbp.org.pk/bpd/2003/CL15.htm

NEW GUIDELINES ON WRITE OFF OF IRRECOVERABLE LOANS AND ADVANCES
Please refer to BPD Circular No. 29 dated the 15th October, 2002, on the above subject.
http://www.sbp.org.pk/bpd/2003/CL14.htm

New Guidelines On Write Off Of Irrecoverable Loans And Advances
Please refer to BPD Circular No. 29 dated the 15th October, 2002, on the above subject.
http://www.sbp.org.pk/bpd/2003/CL13.htm

HELP DESK
As you are aware that the export refinance limits sanctioned in favour of banks for the year 2002-2003, are due to expire on 30-06-2003.
http://www.sbp.org.pk/bpd/2003/CL19.htm

Purported Pledge Of Shares By Sponsor Directors
Furnish us the information with regard to pledge of ?sponsor director?s shares? of your bank, if any, along with the necessary details on the proforma enclosed herewith.
http://www.sbp.org.pk/bpd/2003/CL2.htm

Public Holiday
Public Holiday on 5th February, 2003
http://www.sbp.org.pk/bpd/2003/CL3.htm

Public Holiday
Public Holidays on Wednesday & Thursday the 12th & 13th February, 2003 on the occasion of Eid-ul-Azha.
http://www.sbp.org.pk/bpd/2003/CL4.htm

Public Holidays
Public Holiday on February 07, 2003
http://www.sbp.org.pk/bpd/2003/CL5.htm

List Of Scheduled Banks/DFIs Operating In Pakistan
Please refer to BPD Circular Letter No.06 dated 30th May 2002 forwarding therewith category-wise list of scheduled Banks and NBFIs being regulated by State Bank of Pakistan.
http://www.sbp.org.pk/bpd/2003/CL6.htm

EXTENSION OF EXPIRY DATE ? SBP GUIDELINES ON WRITE OFF ISSUED VIDE BPD CIRCULAR NO.29
Please refer to clause 18 of BPD Circular No.29 in terms of which the scheme notified vide Circular No.29 dated 15th October, 2002 is going to expire on 14.4.2003.
http://www.sbp.org.pk/bpd/2003/CL12.htm

Credit facilities for establishment of new flour mills
Please refer to BPRD Circular Letter No.30 dated the 8th July, 1999 through which banks / NBFIs were directed not to provide loans for establishment of new flour mills.
http://www.sbp.org.pk/bpd/2003/CL11.htm

Fit And Proper Test For Appointment Of President/Chief Executive And Board Members
We are enclosing BPD Circular No. 35 dated 30-11-2002 alongwith its enclosures which was issued to all banks/DFIs.
http://www.sbp.org.pk/bpd/2003/CL10.htm

Public Holidays
Public Holiday Thursday & Friday the 13th & 14th March, 2003 on account of Moharram (Ashura).
http://www.sbp.org.pk/bpd/2003/CL9.htm

EXPORT FINANCE SCHEME EXTENSION OF LIMIT OF 2002-2003
Please refer to BPD Circular No. 36 dated 3rd December, 2002 on the branch licencing policy.
http://www.sbp.org.pk/bpd/2003/CL20.htm

Branch Licensing Policy-Acceptance of cash through ATMs
Please refer to BPD Circular No. 36 dated 3rd December, 2002 on the branch licencing policy.
http://www.sbp.org.pk/bpd/2003/CL21.htm

BANK HOLIDAY
Bank Holiday on Tuesday the 1st July, 2003 as declared as bank holiday.
http://www.sbp.org.pk/bpd/2003/CL22.htm

Prudential Regulation XI: Know Your Customer (KYC)
In view of recent heightened global efforts to prevent the possible use of the banking sector for money laundering, terrorist financing, transfer of illegal/ill-gotten monies and as a conduit for white collar crime etc., the importance of `Know Your Customer (KYC)?/?customer due diligence? has increased.
http://www.sbp.org.pk/bpd/2003/C10.htm

Export Finance Scheme ? Refixation of rates for April, 2003
Please refer to BPD Circular No.06 dated 27th February, 2003 alongwith other instructions issued from time to time on the captioned subject.
http://www.sbp.org.pk/bpd/2003/C9.htm

Minimum Guidelines For Conducting Due Diligence Of Banks/DFIs for The Purpose Of Merger/Amalgamation
As the financial sector in Pakistan consolidates and strengthens, it has become necessary that guidelines be issued which should be followed uniformly to structure and discipline the process of conducting due diligence of banks / DFIs for the purpose of merger / amalgamation or local incorporation of banks.
http://www.sbp.org.pk/bpd/2003/C8.htm

Scheme For Financing Locally Manufactured Machinery ? (Local Sales)
Please refer to BPD Circular No. 25 dated the 18th September, 2002 on the captioned subject.
http://www.sbp.org.pk/bpd/2003/C7.htm

Export Finance Scheme ? Refixation of rates for May, 2003
Please refer to BPD Circular No.09 dated 29th March, 2003 alongwith other instructions issued from time to time on the captioned subject.
http://www.sbp.org.pk/bpd/2003/C14.htm

Prudential Regulation # XIII - Review of the Instructions on Service Charges on PLS Deposit Account
A number of complaints from borrowers of different banks have been received wherein it has been pointed out that banks are compounding mark up, in violation of guidelines issued by SBP for elimination of `riba? from the Banking System. In order to resolve such issues promptly, SBP, in exercise of its powers vested under section 41 of BCO 1962, has decided to constitute a ?Resolution Committee? (RC) under the chairmanship of Director, Banking Policy Department, and comprising of following members:
http://www.sbp.org.pk/bpd/2003/C23.htm

Business And Office Hours During The Month Of Ramzan-Ul-Mubarak
During the ensuing month of Ramzan-ul-Mubarak the following Office hours will be observed in the State Bank of Pakistan.
http://www.sbp.org.pk/bpd/2003/CL29.htm

Bank Holiday
The State Bank of Pakistan will remain closed for public dealing on 1st Ramzan-ul-Mubarak 1423 A.H declared as bank holiday for deduction of Zakat.
http://www.sbp.org.pk/bpd/2003/CL30.htm

Clarification- SBP Guidelines On Write-off of Irrecoverable Loans And Advances
Please refer to BPD Circular No. 29 dated October 15, 2002 regarding captioned subject.
http://www.sbp.org.pk/bpd/2003/CL32.htm

Export Finance Scheme ? Refixation of rates for February, 2003
Please refer to BPD Circular No. 37 dated 30th December, 2002 alongwith other instructions issued from time to time on the captioned subject.
http://www.sbp.org.pk/bpd/2003/C3.htm

Rate Of Markup For Commodity Operations Of The Government And Their Agencies
Please refer to BPRD Circular No.8 dated the 26th April, 2000 through which the rate of markup for commodity operations financing of the Government was fixed at 12% per annum.
http://www.sbp.org.pk/bpd/2003/C4.htm

Export Finance Scheme
Please refer to BSD Circular No. 44 dated the 17th December, 1998 read with the BSD Circular No. 35 dated the 28th September, 2001 on the captioned subject.
http://www.sbp.org.pk/bpd/2003/C5.htm

Export Finance Scheme ? Refixation of rates for March, 2003
Please refer to BPD Circular No. 03 dated 31st January, 2003 alongwith other instructions issued from time to time on the captioned subject.
http://www.sbp.org.pk/bpd/2003/C6.htm

Export Finance Scheme Finance for export of Gold Jewellry
Please refer to the BPRD Circular No.10 dated April 03, 1996 wherein the procedure for obtaining refinance facility under the above Scheme had been notified. In this connection it has been observed that subsequent changes have been made in the procedure due to which the instructions contained in the above circular have become redundant. The amended /revised procedure has been substituted as under.
http://www.sbp.org.pk/bpd/2003/C12.htm

Scheme For Financing Locally Manufactured Machinery- Provision Of LMM Locally Against International Tender
Please refer to the captioned Scheme circulated vide ICD Circular No. 1 dated the 27th April, 1987 read with subsequent instructions issued from time to time.
http://www.sbp.org.pk/bpd/2003/C13.htm

Prudential Regulation No. XI - Know Your Customer (KYC)
Please refer to BPD Circular No. 10 dated 29th March, 2003 on the captioned subject.
http://www.sbp.org.pk/bpd/2003/CL28.htm

Bank Holiday
The State Bank of Pakistan will remain closed for public dealing on 1st Ramzan-ul-Mubarak 1423 A.H declared as bank holiday for deduction of Zakat.
http://www.sbp.org.pk/bpd/2003/CL30.htm

Assessing the Fitness and Propriety of Key Executives
As you are aware, the State Bank of Pakistan, for promoting good corporate governance in the financial sector, has already issued ?Fit & Proper Test?(FPT) for the directors and chief executive officers of banks/DFIs.
http://www.sbp.org.pk/bpd/2003/C11.htm

Relaxation in Prudential Regulations for Infrastructure Project Financing (IPF)
As the promotion and development of infrastructure projects is of critical importance for economic growth and employment generation, State Bank of Pakistan is in the process of developing appropriate regulatory framework for infrastructure project financing, which will be instituted in due course.
http://www.sbp.org.pk/bpd/2003/C25.htm

30-Jul-2003
Please refer to BPD Circular No. 21 dated 30th June, 2003 alongwith other instructions issued from time to time on the captioned subject.
http://www.sbp.org.pk/bpd/2003/C27.htm

Guidelines on Commercial Paper
In order to facilitate the development and growth of Commercial Paper (CP) in Pakistan and to encourage active participation of banks/DFIs in this area, SBP has formulated certain guidelines, which may be followed in letter and spirit.
http://www.sbp.org.pk/bpd/2003/C28.htm

Export Finance Scheme - Refixation of rates for September, 2003
Please refer to BPD Circular No.27 dated 30th July, 2003 alongwith other instructions issued from time to time on the captioned subject.
http://www.sbp.org.pk/bpd/2003/C29.htm

Collated Instruction On Margin Restrictions
In exercise of the powers vested under the Banking Companies Ordinance, 1962, the State Bank of Pakistan has issued guidelines/ instructions on the Margin requirements.
http://www.sbp.org.pk/bpd/2003/C2.htm

Constitution Of Sbp Committee For Resolution Of Disputes Between Borrowers And Banks
Please refer to BPD Circular No.24 dated 4th July 2003 on the above subject. A number of representations from various quarters, including the ICAP, were received in which it was requested that instead of condition of chartered accountancy firms listed on SBP panel, all chartered accountants listed with ICAP may be allowed to represent the borrowers.
http://www.sbp.org.pk/bpd/2003/C37.htm

Export Finance Scheme ? Refixation of rates for November 2003
Please refer to BPD Circular No.32 dated 30th September, 2003 alongwith other instructions issued from time to time on the captioned subject.
http://www.sbp.org.pk/bpd/2003/C36.htm

CONSTITUTION OF SBP COMMITTEE FOR RESOLUTION OF DISPUTES BETWEEN BORROWERS AND BANKS
Please refer to Prudential Regulation No. XIII (issued vide BSD Circular No. 12 dated 17th March, 2001 & BSD Circular Letter No. 24 dated 4th October, 2001) on the above subject.
http://www.sbp.org.pk/bpd/2003/C24.htm

Prudential Regulations
In exercise of the powers vested in it under the Banking Companies Ordinance, 1962, the State Bank of Pakistan is pleased to issue the following three separate sets of Prudential Regulations.
http://www.sbp.org.pk/bpd/2003/C35.htm

Prudential Regulation-XXI - Asset Management And Financial & Investment Advisory Services
Please refer to the instructions on the captioned subject as amended from time to time.
http://www.sbp.org.pk/bpd/2003/C34.htm

Creation Of Reserve Fund
In terms of Section 21 of the Banking Companies Ordinance 1962 every banking company incorporated in Pakistan is required to create a `Reserve Fund? and to transfer to the said Fund certain percentage of profit each year, as discloses in its Profit & Loss Account, before any dividend is declared.
http://www.sbp.org.pk/bsd/1998/pg1_bsd.htm

Concessionary Finance For Domestic Sale of Locally Manufactured Machinery For Thermal Hydal Power Plant
Please refer to the captioned scheme circulated vide ISC Circular No. 07 Dated. the 16th August, 1995.
http://www.sbp.org.pk/bsd/1998/pg2_bsd.htm

Export Finance Scheme-Refinance for Export of 'Rice Gluten'
Please refer to ICD Circular No.09 dated the 29th October, 1991 and the list of commodities not eligible for concessionary export finance annexed therewith.
http://www.sbp.org.pk/bsd/1998/pg44_bsd.htm

Revision in rates of Fine under Export Finance Scheme
Please refer to the instructions issued from time to time in respect of scales of fines under Export Finance Scheme, Para 9.2 of Booklet of Instructions, exporters, EFS, efs, EF-1, EE-1, ED, Annexure-D,
http://www.sbp.org.pk/bpd/2003/C30.htm

GUIDELINES FOR APPOINTMENT/DESIGNATION OF COMPLIANCE OFFICER
The banks/DFIs are aware that in the present economic and business scenario in the World, the need for compliance of various laws and regulations has become imperative to protect the financial institutions from different kinds of risks. In order to keep the activities of banks in compliance with the relevant laws and regulations, especially with regard to Know Your Customer (KYC), and other Anti Money Laundering Law rules/regulations, it has become necessary to appoint/designate a ?Compliance Officer? (CO) in the financial institutions. While some of the banks, especially branches of foreign banks operating in the country, have already appointed/designated a Compliance Officer, the majority of the banks have not put up a compliance programme in place.
http://www.sbp.org.pk/bpd/2003/C16.htm

REFINANCE FACILITY UNDER PART-I OF THE EXPORT FINANCE SCHEME FOR ELIGIBLE GOODS SUPPLIED LOCALLY AGAINST INTERNATIONAL TENDERS
Please refer to the captioned Scheme circulated vide BCD Circular No. 4 dated the 26th January, 1982 read with subsequent instructions issued from time to time.
http://www.sbp.org.pk/bpd/2003/C15.htm

PAYMENT OF RETURNS TO INVESTORS AND DEPOSITORS ? ENFORCEMENT OF ISLAMIC PRINCIPLES
In supersession of BPRD Circular No. 14 dated 16th June 1998, as amended from time to time and subsequent instructions issued on that subject, it has been decided that, effective immediately, the Banks/DFIs shall determine on their own the returns payable to investors and other depositors of funds with them.
http://www.sbp.org.pk/bpd/2003/C20.htm

Export Finance Scheme ? Refixation of rates for July, 2003
Please refer to BPD Circular No.18 dated 30th May, 2003 alongwith other instructions issued from time to time on the captioned subject.
http://www.sbp.org.pk/bpd/2003/C21.htm

Provision Of Information Regarding Profit/ Return To CBR
It has been decided that all banks/DFIs are required to report the profit/return paid to their clients to CBR. SBP, therefore, in exercise of powers conferred to it under Banking Companies Ordinance, 1962, directs all banks/DFIs to provide information to CBR on biannual basis, with immediate effect, in respect of those accounts where bank/DFI pays any profit/return in excess of Rs 10,000 per annum in an account or on deposit maintained with the bank/DFI.
http://www.sbp.org.pk/bpd/2003/C22.htm

Scheme for Financing Locally Manufactured Machinery - (Local Sales)
Please refer to BPD Circular No. 07 dated 12th March, 2003 in terms of which the rate of finance / refinance under Part-A Local Sales of LMM Scheme were announced.
http://www.sbp.org.pk/bpd/2003/C31.htm

Refinance Facility under Export Finance Scheme for Consultancy Services- Provision of Part-II facilities
Please refer to BSD Circular No.41 dated 30th October 2001 containing therein procedure for provisions of financing facility against Consultancy Services for specified sectors, under Part I of the captioned Scheme.
http://www.sbp.org.pk/bpd/2003/C26.htm

Revival Of Sick Units- Constitution Of Co-Ordination Committee
Kindly refer to the bankers meeting held on 22nd October,1998 under the the Chairmanship of Adviser to Prime Minister on Finance & Economic Affairs.
http://www.sbp.org.pk/bsd/1998/cir39.htm

Export Finance Scheme
Please refer to BPRD Circular No 30 dated the 4th August, 1997 wherein the concessionary export finance for 150 days was interalia, extended for export of Dyed Yarn & Yarn of above 30 counts.
http://www.sbp.org.pk/bsd/1998/pg4_bsd.htm

Meetings Of Boards Of Directors
It has come to our notice that some Pakistani Banks have been holding meeting of their boards of Directors outside the country.
http://www.sbp.org.pk/bsd/1998/pg5_bsd.htm

Office/Business Hours
With reference to the BPRD Circular No.19 dated 26th June, 1998 it is clarified that banks are free to open licensed branches after office hours for the purpose of receiving payments.
http://www.sbp.org.pk/bsd/1998/pg30_bsd.htm

Selective Credit Control
P1ease refer to Section A(III)2 of BCD Circular No..5 dated the 5th July, 1987 read with Section (2) of BCD Circular Letter No.7/121-00-92 dated the ,4th June, 1992 and Rule 10(iii) Of Rules of Business for NBFI regarding margin requirement, prescribed for advances against bank deposits and deposit certificates.
http://www.sbp.org.pk/bsd/1998/pg31_bsd.htm

Minimum Margin Restriction On Import Letters Of Credit
In exercise of powers vested in the State Bank of Pakistan under Banking Companies Ordinance, 1962, and in supersession of all previous instructions on the subject, it has been decided that, with immediate effect, all import letters of credit, except for the items mentioned in the annexure hereto, shall be opened subject to a minimum cash margin of 30%.
http://www.sbp.org.pk/bsd/1998/pg32_bsd.htm

Panel Of Auditors ? Section 35 (1) Of The Banking Companies Ordinance , 1962
Please refer to BPRD Circular No 34 dated the 15th October 1997 on the captioned subject.
http://www.sbp.org.pk/bsd/1998/pg3_bsd.htm

Bank Charges
Please refer to Prudential Regulation No. X on the above subject.
http://www.sbp.org.pk/bpd/2003/C33.htm

Export Finance Scheme ? Refixation of rates for October, 2003
Please refer to BPD Circular No.29 dated 29th August, 2003 alongwith other instructions issued from time to time on the captioned subject.
http://www.sbp.org.pk/bpd/2003/C32.htm

Prudential Regulations For Corporate/Commercial Banking
Please refer to the Prudential Regulations for Corporate and Commercial Banking issued vide BPD circular No 35 dated 28th October 2003.
http://www.sbp.org.pk/bpd/2003/C42.htm

Export Finance Scheme ? Refixation of rates for December, 2003
Please refer to BPD Circular No.36 dated 30th October, 2003 alongwith other instructions issued from time to time on the captioned subject.
http://www.sbp.org.pk/bpd/2003/C41.htm

Lending to Public Sector Enterprises- Limits by SBP
Banks are aware that State Bank has imposed a limit on the maximum fund based facilities that a bank can provide to the individual Public Sector Enterprises and Autonomous Bodies (PSEs/ABs) as per list already forwarded to them.
http://www.sbp.org.pk/bpd/2003/C40.htm

Prudential Regulation R-6 for Corporate / Commercial Banking
It has been decided to make following amendments in the Prudential Regulation R-6, Para 1.B, with immediate effect:
http://www.sbp.org.pk/bpd/2003/C39.htm

Export Finance Scheme-Pottery Items
It has come to our notice that some banks are reluctant to provide export finance facility, under the Scheme, to the exporters against export of ?Pottery? items.
http://www.sbp.org.pk/bpd/2003/C38.htm

Business And Office Hours During The Month Of Ramzan-Ul-Mubarak
During the ensuing month of Ramazan-ul-Mubarak the following office hours will be observed by the Central Directorate of the State Bank of Pakistan.
http://www.sbp.org.pk/bsd/1998/pg52_bsd.htm

Selective Credit Control
Please refer to BFRD Circular No.2 dated the 25th August, 1998 read with BPRD Circular No.23 dated the 2nd July, 1998 on the captioned subject.
http://www.sbp.org.pk/bsd/1998/pg45_bsd.htm

Minimum Margin Restriction On Import Letters Of Credit
Please refer to BPRD Circular no. 24 dated the 12th July, 1998 read with BPRD Circular NO.34 dated 31st August, 1998 on the captioned, subject.
http://www.sbp.org.pk/bsd/1998/pg46_bsd.htm

Panel Of Auditors-Section 35(1} Of The Banking Companies Ordinance 1962
Please refer to the Panel of Auditors circulated vide Circular No.25 dated the 10th October 1998 as updated from time to time.
http://www.sbp.org.pk/bsd/1998/pg48_bsd.htm

Export Finance Scheme
Please refer to the Instructions issued on the captioned Scheme from time to time.
http://www.sbp.org.pk/bsd/1998/pg53-54_bsd.htm

Selective Credit Control
Please refer to BPRD Circular No.42 dated the 14th December, 1998 read with BPRD Circular No.23 dated the 2nd July, 1998 on the captioned subject .
http://www.sbp.org.pk/bsd/1998/pg94_bsd.htm

Minimum Margin Restrictions On Import Letters Of Credit
Please refer to BPRD Circular No.24 dated 12th July, 1998 on the above subject.
http://www.sbp.org.pk/bsd/1998/pg43_bsd.htm

Prudential Regulations For Loan Classification
Please refer to BID Circular No. 3 dated the 29th February,1986 and Prudential Regulation No-VIII (as modified from time to time) regarding classification of non-performing loans.
http://www.sbp.org.pk/bsd/1998/pg7_bsd.htm

Minimum Margin Restriction On Import Letters Of Credit
Please refer to the instructions conveyed vide BPRD Circulars No.24 dated 12th July, 1998 and No.34 dated 31st August, 1998 as modified vide BPRD Circular No.37 dated the 16th October, 1998.
http://www.sbp.org.pk/bsd/1998/pg49_bsd.htm

Selective Credit Control
Please refer to BPRD Circular No.36 dated the 25th September, 1998 read with BPRD Circular No.23 dated the 2nd July, 1998 on the captioned subject
http://www.sbp.org.pk/bsd/1998/pg50_bsd.htm

Selective Credit Control
Please refer to BPRD Circular No.41 dated the 28th November, 1998 read with BPRD Circular No.23 dated the 2nd July, 1998 on the captioned subject.
http://www.sbp.org.pk/bsd/1998/pg51_bsd.htm

Prudential Regulations For Banks
Please refer to BCD Circular No. 15 dated August 29, 1992 as amended from time to time.
http://www.sbp.org.pk/bsd/1998/pg8_bsd.htm

Financing For Exports
Please refer to BPRD Circular No.27 of 26th July, 1997-alongwith other instructions issued on the captioned subject from time to time.
http://www.sbp.org.pk/bsd/1998/pg29_bsd.htm

Office/Business Hours
With a view to ensuring uniformity in business/office hours of Banks and non-bank financial institutions it has been decided that Banks/NBFIs would observed with immediate effect the minimum/maximum business/office hours as observed by the offices of the State Bank of Pakistan as indicated in the annexure.
http://www.sbp.org.pk/bsd/1998/pg20_bsd.htm

Maintenance of Statutory Cash Reserve under Section 36(1) of State Bank of Pakistan Act, 1956
In terms of the powers conferred under section 36(1) of the State Bank of Pakistan Act, 1956 it has been decided that effective from May 19, 1999, every scheduled bank shall maintain with State Bank a balance amount of which shall may at the close of business n any day be less than 3.5 percent of its demand and time liabilities in Pakistan.
http://www.sbp.org.pk/bsd/1999/bprd16.htm

Maintenance of Statutory Cash Reserve under Section 36(1) of State Bank of Pakistan Act, 1956
In terms of the powers conferred under section 36(1) of the State Bank of Pakistan Act, 1956 it has been decided that effective from May 19, 1999, every scheduled bank shall maintain with State Bank a balance amount of which shall may at the close of business n any day be less than 3.5 percent of its demand and time liabilities in Pakistan.
http://www.sbp.org.pk/bsd/1999/bprd16.htm

Special Exporters Accounts Exemption Fro Statutory Cash Reserve/Liquidity Requirements
Please refer to Para 5 of our Foreign Exchange Department's F.E Circular No 38 dated 21st July,1998 regarding holding of a portion of the export proceeds realized by banks in Special Exporters Accounts.
http://www.sbp.org.pk/bsd/1998/pg34_bsd.htm

Selective Credit Control
Please refer to the instructions contained in BPRD Circular No.23 dated July 2, 1998 on the captioned subject.
http://www.sbp.org.pk/bsd/1998/pg35_bsd.htm

Rules Of Business For NBFIs
Please refer to the Rules of Business for NBFIs as amended from time to time. The following amendments are made in the said Rules.
http://www.sbp.org.pk/bsd/1998/pg13_bsd.htm

Payment Of Returns To Investors & Depositors ?Enforcement Of Islamic Principles
In supersession of BCD Circular No. 34 dated the 26th November, 1984 as amended from time to time and subsequent instruction issued on that subject, it has been decided that, effective immediately, the banks and other financial institutions shall determine on their own returns payable to investors and other depositors of funds with them.
http://www.sbp.org.pk/bsd/1998/pg14_bsd.htm

Minimum Capital Requirements
Please refer to BPRD Circular No. 36 dated the 4th November 1997 (hereinafter referred to as the said circular) on the above subject.
http://www.sbp.org.pk/bsd/1998/pg6_bsd.htm

Bank Holiday
The Federal Government has been pleased to declare bank Holiday on 29th May, 1998.
http://www.sbp.org.pk/bsd/1998/pg12_bsd.htm

Simplifying And Streamlining The Procedure For Collection Of Utility Bill
Please refer to BPRD circular No. 38 dated the 10th November, 1997 on the captioned subject. For ready reference a copy of that Circular is enclosed.
http://www.sbp.org.pk/bsd/1998/pg11_bsd.htm

Credit Policy ? Housing Finance
The following changes have been made in the housing finance regulations.
http://www.sbp.org.pk/bsd/1998/pg10_bsd.htm

Panel Of Auditors ? Section 35(1) Of The Banking Companies Ordinance, 1962
Please refer to BPRD Circular No. 3 dated the 9th January, 1998 on the captioned subject.
http://www.sbp.org.pk/bsd/1998/pg9_bsd.htm

Prudential regulation-xxi- amendment of
It has been decided to substitute with immediate effect the existing Prudential Regulation-XXI as under.
http://www.sbp.org.pk/bsd/1999/bprd13.htm

Cash Reserve Of Scheduled Banks With State Bank Of Pakistan Under Section 36 (1) Of SBP Act, 1956.
Please refer to BPRD Circular No. 25 dated 26th July, 1997 on the captioned subject.
http://www.sbp.org.pk/bsd/1998/pg15_bsd.htm

Maintenance Of Liquid Assets In Pakistan Under Section 29 Of Co, 1962
Please refer to BPRD Circular No. 43 dated the 27th December, 1997 an captioned subject. present system, cash reserves, close of business, demand and time liabilities of foreign currency,
http://www.sbp.org.pk/bsd/1998/pg16_bsd.htm

Terms And Conditions For Grant Of Financing New Deposit Schemes
In supersession of BPRD Circular No. 22 dated 15th July, 1997, banks/financial institutes are allowed to introduce viable new products and mobilize deposit Schemes provided the same are in according with principles of Sharia and reasonable profitability is ensured.
http://www.sbp.org.pk/bsd/1998/pg18_bsd.htm

Terms And Conditions For Grant Of Financing Facilities By State Bank
It has been decided that effective from 1st July, 1998 the financing facilities to be provided by the State Bank for meeting temporary liquidity shortages shall be remunerated by the recipients at a minimum rate of 16.5 per cent on an annual basis.
http://www.sbp.org.pk/bsd/1998/pg17_bsd.htm

Delegation of powers on loans write-off
Please refer to our BID (now BSD) Circu1ar No. 4/94 of 5th July, 1994regarding write off irrecoverable loans.
http://www.sbp.org.pk/bsd/1998/pg23_bsd.htm

Maintenance Of Liquidity By NBFIs
Kindly refer to Rule 6 of the Rules of Business for NBFIs as modified from time to time.
http://www.sbp.org.pk/bsd/1998/pg37_bsd.htm

Export Finance Scheme Facility for 180 days - Continuation of
Please refer to BPRD Circular 1 To 28 dated' 30th July, 1998 and BPRD, Circular letter No.7 dated 2nd April, 1998 on the captioned subject.
http://www.sbp.org.pk/bsd/1998/pg38_bsd.htm

Selective Credit Control
Please refer to our BPRD Circular No.23 dated 2nd July, 1998 on the captioned subject.
http://www.sbp.org.pk/bsd/1998/pg39_bsd.htm

Panel Of Auditors-Section 35(1} Of The Banking Companies Ordinance 1962
Please refer to the Panel of Auditors circulated vide BPRD Circular No.25 dated the 10th October, 1995 as Updated from time to time. It has been decided to include the names of the following Chartered Accountancy firms in the said Panel.
http://www.sbp.org.pk/bsd/1998/pg40_bsd.htm

Selective Credit Control
Please refer to BPRD Circular No.30 dated the 30th July, 1998 read with BPRD Circular No.23 dated the 2nd July, 1998 on the captioned subject.
http://www.sbp.org.pk/bsd/1998/pg41_bsd.htm

Export finance scheme
Please refer to the captioned scheme, circulated vide BPRD Circular No 44 dated 17th December 1998 and amendments made therein from time to time.
http://www.sbp.org.pk/bsd/1999/bprd24.htm

Export finance scheme
Please refer to BPRD Circular No. 44 dated December 17, 1998 containing revised instructions on the captioned Scheme.
http://www.sbp.org.pk/bsd/1999/bprd25.htm

Maintenance of Liquid Assets in Pakistan
It may be recalled that in terms of the instructions on the subject notified vide BPRD Circular No. 17 dated the 18th May, 1999, liquidity ratio was reduced from 15.0 per cent of total demand and time liabilities to 13.0 per cent.
http://www.sbp.org.pk/bsd/1999/bprd26.htm

Selective Credit Control
Please refer to the instructions contained in BPRD Circular No.23 dated July 2, 1998 on the captioned subject.
http://www.sbp.org.pk/bsd/1998/pg36_bsd.htm

Maintenance of Liquid Assets in Pakistan
In exercise of the powers conferred upon State Bank of Pakistan under section 29 of the Banking Companies Ordinance, 1962 it has been decided that effective from May 19, 1999, every banking company shall maintain in Pakistan in cash (excluding Statutory Cash Reserves under section 36(1) of the State Bank of Pakistan Act, 1956) gold or un encumbered approved securities to be valued in a manner as provided for under the said section an amount which shall not at the close of business on any day any less than 13 per cent of the its time and demand liabilities in Pakistan.
http://www.sbp.org.pk/bsd/1999/bprd17.htm

Financing facilities by State Bank (further reduction in Repo)
In has been decided that effective from May 19, 1999, minimum rate of return to be paid by recipients of financing facilities from State Bank for meeting temporary liquidity shortages and 3-day repo facility against the Government of Pakistan market treasury bills and Federal Investment Bonds shall be 13 per cent on an annual basis as compared with 14 per cent applicable before the above date.
http://www.sbp.org.pk/bsd/1999/bprd18.htm

Rules of Business for nbfis- Maintenance of liquieity
Kindly refer to Rule 6 of the NBFIs Rules as modified from time to time.
http://www.sbp.org.pk/bsd/1999/bprd19.htm

Prudential regulation ? xxiv Maintenance of assets in Pakistan
In term of Circular No. BCD(1)18/27-63 dated the 22nd October, 1963 banks are required to maintain assets in Pakistan not less than 89% of their time and demand liabilities.
http://www.sbp.org.pk/bsd/1999/bprd20.htm

Cash Reserve Of Scheduled Banks With State Bank Of Pakistan Under Section 36(1) Of Sbp Act 1956
With reference to BPRD Circular No.15 dated the 21st June, 1998 on the above subject it is advised that stipulated period of maintaining separate cash reserve against foreign currency and rupee time and demand liabilities will expire on 31st August, 1998.
http://www.sbp.org.pk/bsd/1998/pg42_bsd.htm

Limit on bank?s exposure to a single person
Please refer to Prudential Regulation-I for banks.
http://www.sbp.org.pk/bsd/1999/bprd01.htm

Selective credit control/foreign currency accounts, febc, dbc and fcbc
Kindly refer to BPRD Circular No. 23 dated 2nd July, 1998 (as modified from time to time latest being BPRD Circular No. 45 dated 22nd December, 1998) as also F. E. Circular No. 12 dated 29th May, 1998 (as modified from time to time) on the above subjects.
http://www.sbp.org.pk/bsd/1999/bprd06.htm

Minimum margin restrictions on Import letters of credit
Please refer to BPRD Circular No. 3 dated the 9th January, 1999 on the above subject.
http://www.sbp.org.pk/bsd/1999/bprd05.htm

Minimum margin restrictions on import letters of credit
Please refer to BPRD Circular No. 5 dated the 24th January, 1999 on the captioned subject.
http://www.sbp.org.pk/bsd/1999/bprd08.htm

Terms and conditions for grant of finnacing facilities by state bank
It has been that effective from 4th March, 1999 the maximum rate of remuneration to be paid by recipients of financing facilities from the State Bank for meeting temporary liquidity shortages (Repo Rate) shall stand reduced from 16.50 percent to 15.50 percent on an annual basis.
http://www.sbp.org.pk/bsd/1999/bprd09.htm

Credit discipline-public sector enterprises
Please refer to BPRD Circular No. 20 dated the 21st September, 1995 read with BPRD Circular letter No. 35/127. Pub.95 dated the 19th November, 1995 in terms of which all commercial banks were advised that their aggregate credit to Public Sector Enterprises (PSEs) should not exceed the aggregate amount outstanding as on end May, 1995.
http://www.sbp.org.pk/bsd/1999/bprd10.htm

Export finance scheme
Attention of the banks is invited to the revised procedure of the Export Finance Scheme circulated vide BPRD Circular No. 44 dated December 17, 1998 requiring commercial banks to provide finance to the indirect Exports (IDE) who supply focal inputs to the Direct Exports for further processing, provided the Direct Export has established an Inland Letter of Credit (ILC). In favour of such Indirect Exporters.
http://www.sbp.org.pk/bsd/1999/bprd31.htm

Export finance scheme
Please refer to BPRD Circular No. 44 dated the 17th December, 1998 on the above subject.
http://www.sbp.org.pk/bsd/1999/bprd11.htm

Prudential regulations/rules of business for nbis
It has been observed that the Banks and Non-Bank Financial Institutions (NBFIs) frequently approach the State Bank of Pakistan for relaxation in Prudential Regulations/Rules of Business for NBFIs on different grounds after entering into agreement with their clients.
http://www.sbp.org.pk/bsd/1999/bprd14.htm

Classification of account-Demand & time liabilities for the purpose of Maintenance of statutory cash reserve/liquid assets
Please refer to the instruction contained BCD Circular No. 9 dated the 4th August, 1979 as amended from time to time.
http://www.sbp.org.pk/bsd/1999/bprd15.htm

Bank holiday
The government of Pakistan has decided that offices of State Bank of Pakistan, Banks, and non-bank financial institutions shall remain closed for public dealing on Wednesday 13th October, 1999.
http://www.sbp.org.pk/bsd/1999/bprd32.htm

Minimum margin restriction On import letters of
In excercise of powers vested in the State Bank of Pakistan under the Banking Companies Ordinance, 1962, and in supersession of all previous instructions on the subject, it has been decided that, with immediate effect, all import letters of credit, except for the items mentioned in the Annexure hereto, shall be subject to the following minimum cash margin requirements.
http://www.sbp.org.pk/bsd/1999/bprd33.htm

Panel of Auditors ? Section 35 (1) of the Banking Companies Ordinance, 1962
Please refer to the Panel of Auditors circulated vide BPRD Circular No. 25 dated the 10th October, 1995 as updated from time to time.
http://www.sbp.org.pk/bsd/1999/bprd04.htm

Minimum margin restrictions On import letters of credit
Please refer to BPRD Circulars No. 24,34, 37 and 40 dated the 12th July, 31st August, 16th October and 21st November, 1998 respectively on the above subject.
http://www.sbp.org.pk/bsd/1999/bprd03.htm

Limit on nbis exposure to a single person
Please refer to Rule 09 of NBIs Rules of Business. It has been decided to substitute the existing Para (ii)(A) of the above rule with the following.
http://www.sbp.org.pk/bsd/1999/bprd02.htm

Audit of banks
Kindly refer to the guidelines issued for external auditors in terms of Section 35(3) of BCO, 1962 vide BID Circular No. 5 of 1972 and subsequent instructions on the subject.
http://www.sbp.org.pk/bsd/1999/bprd07.htm

Financing facilities by state bank (further reduction in repo rate)
Please refer to BPRD Circular No. 9 dated the3rd March, 1999 read with BPRD Circular letter No. 10 dated the 4th March, 1999 and Securities Department Circular No. 01 dated the 3rd March, 1999 on the above subject.
http://www.sbp.org.pk/bsd/1999/bprd12.htm

BPRD 39 17th November 1999 ****************************************
In order to forestall chances of imposters and fake people approaching various branches of Banks/Financial Institutions in Pakistan with the intent to check, investigate and take possession of copies of the record of the Bank/Financial Institution as a nominee or representative of National Accountability Bureau or any other agency, it has been decided that before allowing access to the record of the Bank/Financial Institution, the concerned official should verify and satisfy himself about the credentials of such persons from the authority letter of the Bureau, his service record and/or national identity card etc. Where necessary this can further be got verified from the responsible officers of National Accountability Bureau or the highest local Military Authority in the area, as the case may be.
http://www.sbp.org.pk/bsd/1999/bprd39.htm

danish
danish
danish

Maintenance of debt-equity ratio Rule-8 of rules of business for nbfis
Please refer to Rule-8 of the Rules of Business for NBFIs as amended form time to time.
http://www.sbp.org.pk/bsd/1999/bprd44.htm

Bank holidays on 31st december, 1999 And 1st january, 2000
The Federal Government has declared 31st December, 1999 and 1st January, 2000 as bank holidays.
http://www.sbp.org.pk/bsd/1999/bprd43.htm

Maintenance of Statutory Cash Reserve under Section 35 (1) of State Bank of Pakistan Act, 1956
Maintenance of Statutory Cash Reserve under Section 35 (1) of State Bank of Pakistan Act, 1956 (Restoration of the requirements in place prior to May 19, 1999).
http://www.sbp.org.pk/bsd/1999/bprd27.htm

Rules of Business for nbfis- Rule 6- Maintenance of Liquidity
It may be recalled that in terms of the instructions notified vide BPRD Circular No. 19 dated the 26th May, 1999, liquidity requirement for NBFIs was reduced from 14% to 12%.
http://www.sbp.org.pk/bsd/1999/bprd28.htm

Deposit mobilization schemes
Banks and financial institutions were allowed vide BPRD Circular No. 18 of 1998 to introduce viable now products and deposit schemas, which meet the Sharia injunctions and ensure a reasonable return to the depositors.
http://www.sbp.org.pk/bsd/1999/bprd29.htm

Export finance scheme
Please refer to BPRD Circular No. 11 dated the 10th March, 1999 on the above subject.
http://www.sbp.org.pk/bsd/1999/bprd30.htm

Business and office hours during the Month of ramazan-ul-mubarak
During the ensuring month of Ramzan-ul-Mubarak the following office hours will be observed by the Central Directorate of the State Bank of Pakistan.
http://www.sbp.org.pk/bsd/1999/bprd41.htm

Directive under sec. 41 of bco-repo transactions
With a view to bringing about operational improvements in the money market transactions, to strengthen the repurchase market and to ensure transparency, it has been decided that with effect from 30th November 1999, banks/NBFls will enter into Master REPO agreement with the counter party before entering into REPO transactions.
http://www.sbp.org.pk/bsd/1999/bprd40.htm

Operation Of Bank Accounts -Directive Under Section 41 Of The Banking Companies Ordinance, 1962
Further to our Circular Letter No.50 dated 2nd November, 1999 on the above subject, it has been decided that banks may allow operations in the foreign currency accounts maintained under F.E. 25 Scheme of those politicians who are neither defaulters on any of their obligations to banks/NBFIs nor do they appear as defaulters in the reports of Credit Information Bureau.
http://www.sbp.org.pk/bsd/2000/CL1.htm

Rescheduling/Restructuring Of Non-Performing Loans
Please refer to BPRD Circular Letter No.27 dated June 22, 1999 on the captioned subject.
http://www.sbp.org.pk/bsd/2000/CL2.htm

Prudential regulation-vi-review of instruction on Financing facilities against shares
It has been decided to substitute, with immediate effect, the existing Prudential Regulation No. VI by the following.
http://www.sbp.org.pk/bsd/1999/bprd34.htm

Prudential regulation no. Xv- undertaking Of cash payments outside the bank?s Authorized place of business
It has been decided to substitute the existing Prudential Regulation No. XV circulated vide BPRD Circular No. 15 dated 29-8-1992 on the captioned subject as under.
http://www.sbp.org.pk/bsd/1999/bprd35.htm

Selective credit control / foreign Currency accounts, febc, dbc And fcbc
Refer to the instructions contained in BPRD Circular No. 23 dated the 2nd July, 1998 (As modified from time to time) latest being BPRD Circular letter No.5 dated the 29th January, 1999 and paragraph 3 of F.E. Circular No. 31 dated the 2nd July, 1988 on the above subject.
http://www.sbp.org.pk/bsd/1999/bprd22.htm

Submission of quarterly report of condition
With a view to closely monitoring the condition of individual banks/NBFIs as also the general conditions obtaining within the banking system, the State Bank is in the process of upgrading and further strengthening its off-site surveillance and early warning systems.
http://www.sbp.org.pk/bsd/1999/bprd23.htm

Prudential regulation-xxv
It has been observed that violations/irregularities are recurring in the case of several banks despite they being repeatedly reminded of violations/irregularities in State Bank?s inspection reports.
http://www.sbp.org.pk/bsd/1999/bprd21.htm

Assessment Of Compliance With The Core Principles For Effective Banking Supervision
The Core Principles (CPs) for effective Banking Supervision developed by the Basel Committee on Banking Supervision (BCBS), have become a global standard for prudential regulation and supervision.
http://www.sbp.org.pk/bsd/2000/CL14.htm

Sanctions imposed by u. N. Security council Against taliban
The Security Council of the United Nations has imposed senators against the Taliban vide Resolution No. 1267 (1999). Relevant extracts from the resolution are reproduced below.
http://www.sbp.org.pk/bsd/1999/bprd42.htm

Rule-10 of nbfis rules of business ? review of Instructions on financing facilities against shares,
It has been decided to substitute, with immediate effect, the existing Rule-10 (ii) of the NBFIs Rules of Business by the following.
http://www.sbp.org.pk/bsd/1999/bprd36.htm

Minimum margin restriction On import letters of credit
Please refer to BPRD Circular No. 33 dated the 14th October, 1999 on the captioned subject.
http://www.sbp.org.pk/bsd/1999/bprd37.htm

Minimum margin restriction On import letter of credit
Please refer to BPRD Circular No.33 read with BPRD Circular No. 37 dated the 14th October, 1999 and 27th October, 1999 respectively on the above subject.
http://www.sbp.org.pk/bsd/1999/bprd38.htm

Rescheduling/Restructuring Of Non Performing Loans
Please refer to BPRD Circular Letter No.27 dated June 22, 1999 and subsequent modification issued vide BPRD Circular Letter No.2 dated January 29, 2000 on the captioned subject.
http://www.sbp.org.pk/bsd/2000/CL4.htm

Meeting Held On February 26, 2000
We reproduce below the decision taken in Chief Justice?s Committee meeting held on February 26, 2000 the contents of which are self explanatory for your information and necessary action.
http://www.sbp.org.pk/bsd/2000/CL5.htm

Setting Up Of NAB Cell
It has been decided that henceforth all information and data required by National Accountability Bureau (NAB) in connection with the affairs of banks shall be handled by and furnished through the State Bank of Pakistan.
http://www.sbp.org.pk/bsd/2000/CL6.htm

Contributions and Donations for Charitable Social, Educational and Public Welfare Purposes - Prudential Regulation -XX
Prudential Regulation-XX issued vide BPRD Circular No.28 dated the 18th August, 1996 is substituted by the following.
http://www.sbp.org.pk/bsd/2000/bprd42000.htm

Public Holiday
This is to advise that the Central Directorate of State Bank of Pakistan will remain closed on Saturday the 5th February, 2000 being public holiday declared by the Government of Pakistan with a view to observe "Protest Day" on Kashmir.
http://www.sbp.org.pk/bsd/2000/CL3.htm

Rescheduling/Restructuring Of Non-Performing Loans
In terms of BPRD Circular Letter No.27 dated 22nd June, 1999 banks/NBFIs were advised that rescheduling/restructuring of non-performing loans shall not change the status of classification of a loan/ advance.
http://www.sbp.org.pk/bsd/2000/CL16.htm

Priority To Senior Citizens In Banking Facility
The banks/NBFIs are advised to ensure extension of special assistance and due care.
http://www.sbp.org.pk/bsd/2000/CL17.htm

Financing Facilities to Modarabas
Please refer to the instructions contained in BPRD Circular No.29 dated the 3rd September, 1996 in terms of which banks were directed to obtain prior clearance in writing from State Bank of Pakistan before granting financing facility (whether fund-based or non fund based) to Modarabas.
http://www.sbp.org.pk/bsd/2000/bprd52000.htm

Cash Mangement Account (CMA) Rule
In exercise of the powers conferred under Section 41 of the Banking Companies Ordinance, 1962, the State Bank of Pakistan is pleased to make the following rules to operate the Cash Management Account (CMA) by the Investment Banks.
http://www.sbp.org.pk/bsd/2000/dprd06-01.htm

Minimum Margin Restriction on Import Letter of Credit
Please refer to instructions contained in BPRD Circular No.33 dated the 14th October, 1999 in terms of which minimum cash margin restriction was imposed on all import letters of credit except items indicated in the Annexure to the said circular.
http://www.sbp.org.pk/bsd/2000/bprd152000.htm

Sole Objective Of Setting National Accountability Bureau Cell In The State Bank Of Pakistan
With regard to the instructions issued vide BPRD Circular letter No. 06 dated the 4th March, 2000, this is to clarify that sole objective of setting National Accountability Bureau Cell in the State Bank of Pakistan is to support and supplement the efforts of National Accountability Bureau to gather necessary information in connection with the cases under investigation.
http://www.sbp.org.pk/bsd/2000/CL8.htm

Minimum Margin Restriction On Import Letters Of Credit
Please refer to instructions contained in BPRD Circular No.33 dated the 14th October, 1999 in terms of which minimum cash margin restriction was imposed on all import letters of credit except items indicated in the Annexure to the said circular.
http://www.sbp.org.pk/bsd/2000/CL9.htm

Purported Sale By Sponsor Directors
Please refer to our BPRD Circular letter No.44 dated the 26th August, 1997 on the captioned subject.
http://www.sbp.org.pk/bsd/2000/CL11.htm

Selective Credit Control ? Advances To Flour Mills
In terms of para AI(VI) of BCD Circular No.5 of 5th July, 1987 advances against raw materials to manufacturing/processing units of goods is permissible with minimum margin requirements of 25%.
http://www.sbp.org.pk/bsd/2000/CL12.htm

Prohibition Of Correspondence With Accused/Defendants
It has been reported by NAB that some banks/NBFIs are making direct correspondence with accused/defendents in cases that are under trial with the Accountability Court.
http://www.sbp.org.pk/bsd/2000/bprd132000.htm

Public Holiday
This Central Directorate of State Bank of Pakistan will remain closed on Friday the 16th June, 2000 being Public Holiday on account of Eid Milad-un-Nabi.
http://www.sbp.org.pk/bsd/2000/CL18.htm

Export Finance Scheme
Please refer to the captioned scheme circulated vide BCD Circular No.29 dated the 11th October, 1977 as amended from time to time.
http://www.sbp.org.pk/bsd/2000/CL19.htm

National Accountability (Second Amendment) Ordinance, 2000 - Constitution of Conciliation Committee
In exercise of powers conferred under sub-sections (a) and (aa) of Section 25-A of National Accountability (Second Amendment) Ordinance, 2000, the Governor SBP has been pleased to constitute a Conciliation Committee consisting of following members.
http://www.sbp.org.pk/bsd/2000/bprd_l21_19july2000.htm

Branch Licensing Policy For NBFIs
In order to maintain uniformity in granting permission for opening/closing etc. of branches of Non-Banking Financial Institutions (NBFIs) and for effective monitoring, it has been decided to revise the existing licensing policy for all NBFIs. The new branch licensing policy is enclosed for information and strict compliance.
http://www.sbp.org.pk/bsd/2000/CL23.htm

Minimum Margin Restriction On Import Letter Of Credit
Please refer to instructions contained in BPRD Circular No.33 dated the 14th October, 1999 in terms of which minimum cash margin restriction was imposed on all import letters of credit except items indicated in the Annexure to the said circular.
http://www.sbp.org.pk/bsd/2000/CL7.htm

Filing Of Reference Under Section 31-D Of National Accountability (Second Amendment) Ordinance, 2000
In terms of Section 31-D of National Accountability (Second Amendment) Ordinance, 2000 no inquiry, investigation or proceedings in respect of imprudent loans, defaulted loans or rescheduled loans shall be initiated or conducted by the NAB without reference from the Governor, State Bank of Pakistan.
http://www.sbp.org.pk/bsd/2000/CL29.htm

Maintenance of Special Deposit with the State Bank of Pakistan against time and demand liabilities
Please refer to BSD Circular No.34 dated 15th December, 2000 on the captioned subject.
http://www.sbp.org.pk/bsd/2000/bprdl35-18-12-2000.htm

December 13, 2000 Restructuring/Rescheduling of Non-performing Loans
Please refer to BPRD Circular Letter No. 4 dated February 17, 2000 wherein certain conditions were laid down for restructured/ rescheduled loans.
http://www.sbp.org.pk/bsd/2000/bprdl342000.htm

Minimum Margin Restriction On Import Letters Of Credit
Please refer to instructions contained in BPRD Circular No.33 dated the 14th October, 1999 in terms of which minimum cash margin restriction was imposed on all import letters of credit except items indicated in the Annexure to the said circular.
http://www.sbp.org.pk/bsd/2000/CL9.htm

Loan Defaults-Recovery Thereof
In order to expedite recovery of stuck up loans/advances.
http://www.sbp.org.pk/bsd/2000/CL10.htm

Personal Guarantee of Directors of Private Limited Company
Please refer to clause (D) of BCD Circular No. 7, of 31st May 1972 reproduced as under:- ?No banking company shall, make advances to a private limited company without obtaining personal guarantee of the directors of such company, in addition to the normal security which the banking company may require.?
http://www.sbp.org.pk/bsd/2000/bprd22_21july2000.htm

Not Issued.
Not Issued.
Not Issued.

Cancellation Of Licence Of Indus Bank Ltd.
This is to notify for the information of all banks/NBFls that exercising the powers vested in him under the Banking Companies Ordinance, 1962, the Governor, State Bank of Pakistan has cancelled the Licence of lndus Bank Limited.
http://www.sbp.org.pk/bsd/2000/CL25.htm

Lending Procedures By The Banks For It Projects
As you are aware, Government has strong commitment towards promotion of Information Technology Sector in Pakistan and all efforts are focused on its promotion.
http://www.sbp.org.pk/bsd/2000/CL26.htm

National Accountability (Second Amendment) Ordinance, 2000-Constitution Of Conciliation Committee
In partial modification of Circular Letter No.21 dated 19th July, 2000 it is advised that the name of member on Conciliation Committee has been replaced.
http://www.sbp.org.pk/bsd/2000/CL27.htm

Directive under section 41 of BCO-REPO Transactions
Please refer to our Circular No.20 dated 4th August,2000 on the captioned subject.
http://www.sbp.org.pk/bsd/2000/bprd-28-2oct2000.htm

Rate of Mark Up for Commodity Operations of the Government and their Agencies
Please refer to BPRD Circular letter No.38 dated 26th July, 1997 through which the rate of mark up for commodity operations of the Government has been fixed at 16.5% per annum.
http://www.sbp.org.pk/bsd/2000/bprd82000.htm

Prudential Regulation ? VIII / NBFIs Rule 14 For Classification And Provisioning
http://www.sbp.org.pk/bsd/2000/cir-9-2000.pdf
http://www.sbp.org.pk/bsd/2000/cir-9-2000.pdf

Export Finance Scheme - Concessionary Rate of Finance
Please refer to BCD Circular No. 6 and 13 dated the 30th March, 1978 and 3rd July, 1978 respectively (copy enclosed for ready reference) regarding the captioned subject.
http://www.sbp.org.pk/bsd/2000/bprd102000.htm

Financing Facilities By State Bank (Enhancement in Repo rate) (Enhancement in Repo Rate from 12% to 13%
Please refer to BSD Circular No.26 dated the 18th September, 2000 through which above rate has been enhanced from 11% to 12% on an annual basis.
http://www.sbp.org.pk/bsd/2000/bprd-28-4oct2000.htm

Business And Office Hours During The Month Of Ramazan-Ul-Mubarak
During the ensuing month of Ramzan-ul-Mubarak the following office hours will be observed by the Central Directorate of the State Bank of Pakistan.
http://www.sbp.org.pk/bsd/2000/bprd-25-15sep2000.htm

Monthly Return Of Liabilities And Assets
P1ease refer to our BSD Circular No.20 dated 4th August, 2000 regarding revaluation of security holdings.
http://www.sbp.org.pk/bsd/2000/CL33.htm

Prior Clearance Of State Bank For Appointment Of Chairman/President/ Managing Director/Chief Executive
Please refer to the instructions contained in BPRD Circular No.12 dated 2nd June 2000 on the above subject.
http://www.sbp.org.pk/bsd/2000/CL32.htm

National Accountability (Second Amendment) Ordinance, 2000 - Constitution Of Conciliation Committee
In partial modification of Circular Letter No.21 dated July 19, 2000 it is advised as follows.
http://www.sbp.org.pk/bsd/2000/CL31.htm

Export Refinance Scheme - Refinance for Export of "Rice Gluten"
Please refer to the instructions contained in BPRD Circular No. 35 dated September 2, 1998 in terms of which it was decided to allow financing facility under the Export Finance Scheme for export of ?Rice Gluten? for a period of 150 days for 1998-99 only.
http://www.sbp.org.pk/bsd/2000/bsd30-letter.htm

Prudential Regulation - XXI
Please refer to BPRD Circular No.13 read with BPRD Circular letter No.35 dated April 9, 1999 and August 5, 1999 respectively on the captioned subject.
http://www.sbp.org.pk/bsd/2000/CL20.htm

Directive Under Section 41 of ECO - Repo Transactions
It has been decided to substitute the instructions issued vide BPRD Circular No. 40 and BPRD Circular letter No. 58 dated 17th November 1999 and 4th December 1999 respectively on the above subject as under:
http://www.sbp.org.pk/bsd/2000/bprd20_4aug2000.htm

Open Ended Guarantee-Issuance Of
In terms of BCD Circular No. 5 of 1983, it was, interalia, directed that all guarantees issued by banks must contain specific amount and expiry date and a date by which claims are to be lodged.
http://www.sbp.org.pk/bsd/2000/bprd72000.htm

Public Holidays
This is to advise that the Central Directorate of State Bank of Pakistan will remain closed from 8th to 10th January, 2000 being Public Holidays declared by the Government of Pakistan on account of Eid-ul-Fitr.
http://www.sbp.org.pk/bsd/2000/bprd12000.htm

Financing Facilities by State Bank (Further Reduction in Repo Rate) (Reduction in repo rate from 13% to 11%)
Please refer to BPRD circular No. 18 dated 18th May, 1999 on the above subject.
http://www.sbp.org.pk/bsd/2000/bprd22000.htm

Directive under Banking Companies Ordinance 1962- Minutes of The Board of Directors Meeting
It has been decided that effective from 1st January, 2000 all banks incorporated in Pakistan/NBFIs, shall furnish.
http://www.sbp.org.pk/bsd/2000/bprd32000.htm

Assessment Of Compliance With The Core Principles For Effective Banking Supervision
The Core Principles (CPs) for effective Banking Supervision developed by the Basel Committee on Banking Supervision (BCBS), have become a global standard for prudential regulation and supervision.
http://www.sbp.org.pk/bsd/2000/CL14.htm

Prior Clearance of State Bank for Appointment of Chairman/President/ Managing Director/Chief Executive
In supersession of the instructions contained in BPRD Circular No. 37 dated the 6th November, 1997 and with a view to prevent undesirable persons from becoming Chief Executives and Directors.
http://www.sbp.org.pk/bsd/2000/bprd12_2june2000.htm

Finance for Export of Computer Software to the Software Exporter/ Software Houses/ Companies
As you are aware, export of computer software is admissible for concessionary export finance/refinance facility in terms of BPRD Circular No.5 dated 3rd March,1997 under the Export Finance Scheme as per procedure laid down in BPRD Circular Letter No.23 dated 20th October, 1998.
http://www.sbp.org.pk/bsd/2000/bprd13_5june2000.htm

Selective Credit Control Advances Against Wheat
Please refer to BCD Circular No 5 of 5th July, 1987, as modified from time to time, in terms of which the minimum margin requirement in respect of financing by banks for various purposes have been prescribed.
http://www.sbp.org.pk/bsd/2001/cir-let-of-27--6-01.htm

Export Finance Scheme
As per existing instructions, exporters under Part II of the Export Finance Scheme are required to export eligible commodities and realize proceeds there-against equivalent to at least twice the amount of refinance obtained by them during July-June period each year.
http://www.sbp.org.pk/bsd/2000/bprd112000.htm

Streamlining the Procedure for Collection of Utility Bills
As you are aware, a Committee was constituted under the chairmanship of Mr. Javed Ahmad Noel, Honorary Adviser, Ministry of Finance to look into the issue of streamlining and simplifying the procedure for collection of utility bills.
http://www.sbp.org.pk/bsd/2000/bprd23_4sep2000.htm

Financing Facilities by State Bank (Enhancement in Repo Rate)
Please refer to BRRD Circular No.02 dated the 4th January, 2000 through which above rate has been reduced from 13% to 11% on an annual basis.
http://www.sbp.org.pk/bsd/2000/bprd-26-18sep2000.htm

Cash Reserve of Scheduled Banks maintained wtih State Bank of Pakistan under section 36(1) of SBP Act, 1956
Please refer to BSD Circular No.17 dated 29th June, 2000 on the captioned subject whereby banks were required to maintain with State Bank of Pakistan a weekly average balance of 5% of total Time & Demand Liabilities subject to daily minimum of 4%.
http://www.sbp.org.pk/bsd/2000/bprd-27-4oct2000.htm

Facilities to Small Entrepreneurs
Rule-11 of the Rules of Business for NBFIs stipulates that at least 5% of the credit facilities shall be provided to small entrepreneurs, facilities, loans, Software Exporters, Software Houses, Information Technology Companies,
http://www.sbp.org.pk/bsd/2000/bprd14_5june2000.htm

Prudential Regulation-XXVI Credit Rating of the Financial Institutions
In terms of NBFI Circular No. 6 dated April 20, 1995, it was made mandatory for NBFIs to have themselves credit rated by a Credit Rating Agency on the approved panel of State Bank of Pakistan.
http://www.sbp.org.pk/bsd/2000/bprd15_6june2000.htm

Open-Ended Guarantees-Issuance Of
Please refer to instruction contained in BPRD Circular No.7 dated April 4, 2000, in terms of which banks were allowed to issue open-ended guarantees without clearance from the State Bank of Pakistan, provided they have fully secured their interest by cash collateral or other liquid securities against issuance of such guarantees for the following purposes.
http://www.sbp.org.pk/bsd/2000/bprd-24-9sep2000.htm

Minimum Margin Restriction on Import Letter of Credit
Please refer to BPRD Circular No.33 dated the 14th October, 1999 on the above subject as amended from time to time.
http://www.sbp.org.pk/bsd/2000/bprd19_1july2000.htm

Cash Reserve of Scheduled Banks Maintained with State Bank of Pakistan under section 36(1) of SBP Act, 1956
Please refer to BSD Circular No. 27 dated 4th October, 2000 on the captioned subject whereby banks were required to maintain with SBP a weekly average balance of 7% of total Time & Demand Liabilities subject to daily minimum of 6%.
http://www.sbp.org.pk/bsd/2000/bprdl33-15-12-2000.htm

Micro finance Rules
In exercise of the powers conferred in it under the Microfinance Bank Ordinanace, 2000 the State Bank of Pakistan is pleased to make the Microfinance Rules, a copy of which is Annexed.
http://www.sbp.org.pk/bsd/2000/bsd29.htm

Export Finance Schemes
Please refer to BPRD Circular No. 44 dated the 17th December, 1998 enclosing therewith a negative list of commodities which are not eligible for concessionary export finance under the Export Finance Scheme.
http://www.sbp.org.pk/bsd/2000/bprd-25-15sep2000.htm

Filing of reference under section 31-D of Accountability (second amendment) ordinance 2000
Please refer to our Circular Letter No. 29 dated the 12th October, 2000 on the above subject.
http://www.sbp.org.pk/bsd/2001/bprdl-1-6-1-01-2k.htm

Cash Reserve of Scheduled Banks maintained with state bank of Pakistan under section 36(1) of SBP ACT 1956
Please refer to BSD Circular No. 33 dated 15th December, 2000 on the captioned subject.
http://www.sbp.org.pk/bsd/2000/bprd37-22-12-2k.htm

Personal Guarantee Of Private Limited Company
As per clause (D) of BCD Circular No.7 dated the 31st May, 1972, no banking company shall, make advances to a private limited company without obtaining personal guarantee of the directors of such company, in addition to the normal security which the banking company may require.
http://www.sbp.org.pk/bsd/2001/cirletter-6-30-4-01.htm

Prudential Regulation-VIII / NBFIs Rule-14 For Classification And Provisioning
Please refer to the Prudential Regulation-VIII/ NBFIs Rule-14 circulated vide BPRD Circular No.9 dated April 27, 2000 on the captioned subject.
http://www.sbp.org.pk/bsd/2001/cir-lett-of-29-03-01.htm

Cash Reserve of Scheduled Banks with State Bank of Pakistan
In terms of Section 36(1) of the State Bank of Pakistan Act,1956, every scheduled bank is currently required to maintain with the State Bank an average balance of 5% of its total time and demand liabilities in Pakistan worked out on weekly basis provided that the amount of the balance shall not at the close of business on any day be less than 4% of the total time and demand liabilities in Pakistan.
http://www.sbp.org.pk/bsd/2000/bprd17_29june2000.htm

Export Finance Scheme
Please refer to BPRD Circular No. 44 dated the 17th December, 1998 in terms of which a negative list of commodities not eligible for concessionary export finance under the Export Finance Scheme was also circulated.
http://www.sbp.org.pk/bsd/2000/bprd18_30june2000.htm

Change of Nomenclature
This is to notify for the information of all concerned that the nomenclature of the following Departments stands changed with immediate effect as under.
http://www.sbp.org.pk/bsd/2000/bprd16_24june2000.htm

Consolidation And Strengthening Of Financial Institutions - Directive Under Banking Companies Ordinance, 1962
In order to facilitate the banks and financial institutions to strengthen their competitive ability both domestically and internationally, to help them become more cost effective by upgrading their technology and eliminating avoidable expenses, to build up their equity structure to the levels where the interests of depositors are adequately protected and to encourage the economies of scale and economies of scope in this sector, it has been decided to revise the minimum capital requirement for the banks.
http://www.sbp.org.pk/bsd/2000/C31.htm

Export finance Scheme
Please refer to BSD Circular No.25 dated 15th September, 2000 allowing therein refinance facility under Export Finance Scheme for "Brown Rice" and "Par boiled Rice".
http://www.sbp.org.pk/bsd/2000/bprd32-7-122k.htm

Maintenance Of Special Deposit With The State Bank Of Pakistan Against Time And Demand Liabilities
In exercise of the powers vested in the State Bank of Pakistan under the Banking Companies ordinance 1962 all scheduled banks are directed to maintain with the State Bank Special Deposit equivalent to 2% of their total time and demand liabilities as of 9-12-2000. The requirement has to be met latest by 16th December, 2000.
http://www.sbp.org.pk/bsd/2000/bprd34-15-12-2000.htm

Deposits Mobilization Schemes
Please refer to para V of BPRD Circular No.29 dated 13th July, 1999 wherein the banks and Non-Bank Financial Institutions were allowed to develop and expand their deposit mobilization efforts based on explicitly stated expected rates of returns and provision of additional and more efficient financial services to the depositors.
http://www.sbp.org.pk/bsd/2000/bprd35-16-12-2000.htm

Evening Banking
Please refer to BPRD Circular No.22 dated 30th June, 1998.
http://www.sbp.org.pk/bsd/2000/bprd36-16-12-2000.htm

Cases Of Willful Default Pending Before Accountability Courts.
The Honorable High Court of Sindh in a judgment on Constitution Petition No. D-1896/2000 has issued following directions:
http://www.sbp.org.pk/bsd/2001/cir-25-06-01.htm

Export Finance Scheme
Please refer to BSD Circular No 17 dated 31st March, 2001 alongwith other instructions issued on the captioned subject from time to time.
http://www.sbp.org.pk/bsd/2001/cir-26-30-6-01.htm

Financing Facilities by State Bank - Reduction in Repo Rate
Please refer to BSD Circular No.24 dated the 6th June, 2001 through which above rate has been enhanced from 13% to 14% on an annual basis.
http://www.sbp.org.pk/bsd/2001/cir-27-18-7-01.htm

Public Holidays
The State Bank of Pakistan will remain closed on 22nd and 23rd February, 2002 being Public Holidays.
BSD Circular No. 9 February 19, 2002 Public Holidays

Panel Of Auditors ? Section 35(1) Of The Banking Companies Ordinance, 1962
Please refer to the Panel of Auditors circulated vide BSD Circular No.6 dated 31st January, 2001.
http://www.sbp.org.pk/bsd/2001/bsdcl-4-28-3-01.htm

Not Issued
Not Issued
Not Issued

Disclosure of Signatory on correspondence/returns
It has been noted that some officials of Banks/NBFIs while signing the statements/returns, letters etc addressed to SBP do not indicate their names and designation & simply write "authorized signatory, on behalf of, for President/SEVP/EVP etc". This practice creates difficulties in locating/identifying the concerned official for obtaining further information/clarification in case of urgency and verifications of data.
http://www.sbp.org.pk/bsd/2001/cir-letter-2-of-14-03-01.htm

Exchange Rates
Effective 11th March, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C20_110393.htm

Exchange Rates
Effective 13th March, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C21_130393.htm

Exchange Rates
Effective 17th March, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C22_170393.htm

Direct borrowings in private sector inclusive of suppliers credits/guaranteed loans /paye loans - absorption of exchange risk by the government against payment of fee
Attention of Authorized Dealers in invited to F.E. Circular No.66 dated the 27th July, 1992 on the subject noted above.
http://www.sbp.org.pk/epd/1993/c23.htm

Prudential Regulation No. XV
Please refer to BPRD Circular No.35 dated the 27th October, 1999.
http://www.sbp.org.pk/bsd/2001/cir-7-of-13-02-01.htm

LMM-Scheme-Provision of financing facilities by SBFC for locally manufactured auto/air jet/shuttleless looms
As you are aware that the Government has been endeavoring to revamp various sectors of the economy to achieve economic growth as also higher export earnings.
http://www.sbp.org.pk/bsd/2001/cir-9-of-15-02-01.htm

Prudential Regulation-XXVII Minimum information on the Borrowers
As you are aware that collection and analysis of adequate information on the prospective borrowers helps in expeditious credit processing, minimizing the risk of default and effective monitoring after disbursement of funds.
http://www.sbp.org.pk/bsd/2001/cir-10-of-15-03-01.htm

Finalization of Inspection Reports
The State Bank has been receiving a growing number of appeals for refund/withdrawal of the penalties imposed on irregularities/violations of laws/ regulations pointed out in its inspection reports. In order to address this issue, it has been decided that henceforth discussions held with banks/NBFIs on draft inspection reports will be reduced in writing by our Banking Inspection Departments (BIDs ), specifically recording the points contested by the banks/NBFIs and not agreed to by the BIDs aIongwith reasons/justification for such disagreements.
http://www.sbp.org.pk/bsd/2000/bprd21_4aug2000.htm

Export Finance Scheme
Please refer to BSD Circular No. 18 dated 30th June, 2000 on the above subject.
http://www.sbp.org.pk/bsd/2000/bprd22_19aug2000.htm

Export Finance Scheme
Please refer to BSD Circular No. 34 dated 28th September 2001 alongwith other instructions issued on the captioned subject from time to time.
http://www.sbp.org.pk/bsd/2001/C44.htm

List Of Scheduled Banks/NBFIs Operating In Pakistan
We forward herewith category-wise list of scheduled banks and NBFIs being regulated by the State Bank of Pakistan for your information.
http://www.sbp.org.pk/bsd/2001/C45.htm

Public Holidays
This is to advise that the Central Directorate of State Bank of Pakistan will remain closed from 17th to 19th December, 2001.
http://www.sbp.org.pk/bsd/2001/C46.htm

Relaxations to the exporters of leather garments & leather products under Export Finance Scheme
Under the existing instructions on the Export Finance Scheme, finance is available to exporters across the board for 180 days.
http://www.sbp.org.pk/bsd/2001/C47.htm

Cash Reserve Requirement for Deposits raised under FE Circular 25 of 1998
Please refer to our BSD Circular No.18 dated 31st March, 2001 on the captioned subject.
http://www.sbp.org.pk/bsd/2003/CL7.htm

Quarterly Financial Statements
In terms of Para 3 of Prudential Regulation No.XXIX regarding ?Responsibilities of Board of Directors? notified vide BSD Circular No.15 dated 13th June, 2002, all banks/DFIs are, interalia, required to follow the `Code of Corporate Governance? issued by the SECP.
http://www.sbp.org.pk/bsd/2003/CL14.htm

Exchange Rates
Effective 6th February, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C12_060293.htm

Master Circular ? Minimum Capital Requirements
Please refer to BPRD Circular No.36 dated the 4th November 1997 on the above subject, as amended from time to time.
http://www.sbp.org.pk/bsd/2003/C5.htm

Import and export of currency notes and foreign exchange and retention of foreign currency
Attention is invited to F.E. Circular No. 55 dated the 27th March, 1991 in terms of which relaxation in certain regulations relating to import and export of currency notes and foreign exchange and retention of foreign currency in Pakistan were made.
http://www.sbp.org.pk/epd/1993/c26.htm

IMPLEMENTATION OF IAS 39 AND IAS 40
Please refer to Rule No. 14 of Rules of Business for NBFIs and BSD Circular No.20 dated 4th August, 2000 containing instructions on classification of advances and mark to market respectively.
http://www.sbp.org.pk/bsd/2002/CL11.htm

Human Resource Policy
As you are aware adoption of effective human resource management and development policies is vital for achieving the organizational goals and objectives. In this connection State Bank has been encouraging banks to put in place well-defined policies for various areas of operations including recruitment, career progression and severance of the employees.
http://www.sbp.org.pk/bsd/2001/bsdcl-8-28-3-01.htm

Master Circular on Financial Disclosure ? Frequency & Timelines
Present day banking and other financial services are subject to high standards of corporate governance and risk management. The purpose of all these efforts lies in making the business as transparent as possible and inline with the best international standards & practices of financial disclosure.
http://www.sbp.org.pk/bsd/2004/C1.htm

Exchange Rates
Effective 3rd February, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C10_030293.htm

Business Travel
The address of Pakistan Electrical and Electronics Merchants? Association, Karachi appearing at S.No.13 under Karachi in Appendix V-74 of Foreign Exchange Manual (6th Edition) 1987 has been changed to read as under.
http://www.sbp.org.pk/epd/1993/c13.htm

Cash Reserve Requirement For Deposits Raised Under Fe Circular 25 Of 1998
Please refer to BSD Circular No.18 dated 31st March, 2001 and BSD Circular Letter No.15 dated 13th July, 2001 on the captioned subject.
http://www.sbp.org.pk/bsd/2001/CL34.htm

Sanction of limit under the EFS for the year 2001-2002
Please refer to our letter No. BSD/RU-45/936(L)/X/2001-15638 to 15709 dated the 30th October, 2001 on the captioned subject conveying sanction of individual limits to banks for the year 2001-2002.
http://www.sbp.org.pk/bsd/2001/CL35.htm

-No title- "permission to non-residents to trade freely in the shares quoted on the Stock Exchanges in Pakistan through "Special Convertible Rupee Accounts" maintained for this purpose"
Attention of Authorized Dealers is invited to F.E. Circular No.33 dated the 15th March, 1992 conveying permission to non-residents to trade freely in the shares quoted on the Stock Exchanges in Pakistan through "Special Convertible Rupee Accounts" maintained for this purpose.
http://www.sbp.org.pk/epd/1993/c24.htm

Direct borrowing in private sector inclusive of suppliers credits / guaranteed loans/paye loans - absorption of exchange risk by the government against payment of fee
Attention of Authorized Dealers is invited to F.E. Circular No.59 dated the 25th July, 1993 on the subject noted above.
http://www.sbp.org.pk/epd/1993/c67.htm

Trade embargo on Haiti
Pursuant to decision taken by the United Nations? Security Council in its meeting held on 26th August 1993, measures with respect to the trade embargo on Haiti notified vide F.E. Circular No.63 dated the 22nd August, 1993 have been suspended. Therefore instructions enunciated in the above F.E. Circular shall cease to be effective.
http://www.sbp.org.pk/epd/1993/c68.htm

Branch Licensing Policy
It has been decided to revise the branch licencing policy (BLP) to liberalize the opening of new branches which may enable the banks to expand their branch network and to provide more compatible environment for the provision of financial services to the general public.
http://www.sbp.org.pk/bsd/2001/cir-11-of-17-03-01.htm

CIB Data
Please refer to BSD Circular No.4 dated 25th February, 2003 on the captioned subject, in terms of which banks/DFIs/NBFCs were advised, interalia, to submit CIB data of borrowers of Rs.0.5 million and above through online system within 15 days from the close of each calendar month.
http://www.sbp.org.pk/bsd/2003/C8.htm

Prudential Regulation No.Xiii ? Review Of Instructions On Service Charges On PLS Deposit Accounts.
It has been observed by the State Bank of Pakistan that inspite of clear instructions issued vide our BSD Circular No.12 dated 17-03-2001 on the above subject, banks are still recovering service charges from the PLS accounts ostensibly on the basis or stipulation in Clause (III) of the said circular which infact relates to investment accounts of fixed tenure.
http://www.sbp.org.pk/bsd/2001/CL24.htm

Branch Licensing Policy
Please refer to para 7 of BSD Circular No.11 dated 17th March, 2001 wherein the banks were allowed to open booth(s) for collection of cash or for making spot payments on account of the activities as stipulated in para 7(i) of the aforesaid circular.
http://www.sbp.org.pk/bsd/2001/CL23.htm

Prudential Regulation-VI / Rule?10 of NBFIs Rules of Business Review of instructions on financing facilities against shares.
Please refer to instructions contained in BPRD Circular Letter No.48 dated October 23, 1999 read with BPRD Circular No.34 dated October 20, 1999 addressed to banks and BPRD Circular No.36 dated October 27, 1999 addressed to NBFIs, in terms of which facilities against shares of listed companies were, interalia, subject to minimum margin requirement of 30% of their average market value of the preceding 12 months. average market value,
http://www.sbp.org.pk/bsd/2001/C32.htm

Maintenance of special deposit with the State Bank Of Pakistan against Time and Demand Liabilities.
Please refer to BSD Circular No.34 dated 15th December, 2000 whereby Banks were required to maintain with SBP Special Deposit equivalent to 2% of their total Time and Demand Liabilities as of 9th December, 2000.
http://www.sbp.org.pk/bsd/2001/bprd-2_9-1-2k.htm

Branch Licensing Policy
Please refer to BSD Circular No.11 dated March 17, 2001 enclosing therewith the revised Branching Licensing Policy.
http://www.sbp.org.pk/bsd/2001/CL22.htm

Exchange Rates
Effective 10th October, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C69_101093.htm

Issue of NIT units abroad on repatriable basis
Attention of Authorized Dealers is invited to the instructions contained in paragraph 6, Chapter XX of the Exchange Control Manual as revised vide F.E. Circulars Nos. 84, 104 and 122 of 1991.
http://www.sbp.org.pk/epd/1992/c68.htm

RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
http://www.sbp.org.pk/edmd/2003/EDMD3.htm

RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
http://www.sbp.org.pk/edmd/2003/EDMD2.htm

CASH RESERVE REQUIREMENT FOR DEPOSITS
CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998.
http://www.sbp.org.pk/edmd/2003/EDMD1.htm

Investment abroad by resident Pakistanis
Enquiries are being received whether equity investment abroad by residents of Pakistan including firms and companies incorporated in Pakistan is permissible under the liberalized policy of the Government.
http://www.sbp.org.pk/epd/1993/c66.htm

Export Finance Scheme
Please refer to the captioned scheme circulated vide BCD Circular No.29 dated the 11th October, 1977 as amended from time to time.
http://www.sbp.org.pk/bsd/2001/CL11.htm

Panel Of Auditors - Section 35(1) Of The Banking Companies Ordinance, 1962
Please refer to the panel of auditors circulated vide BSD Circular No.6 and BSD Circular Letter No.4 dated the 31st January and 28th March, 2001 respectively.
http://www.sbp.org.pk/bsd/2001/CL10.htm

Rationalization / Discontinuation Of Returns
The question of streamlining the existing reporting requirements by banks/NBFIs has been under consideration by the State Bank of Pakistan.
http://www.sbp.org.pk/bsd/2002/C17.htm

Minimum Capital Requirements
Please refer to BSD Circular No. 4 dated January 31, 2001 on the captioned subject.
http://www.sbp.org.pk/bsd/2001/cir-23-1-6-01.htm

Deregulation of Wheat Trade
As your are aware that there has been a shift in the Government Policy for procurement/import of essential commodities including wheat to the market mechanism wherein the Government has decided to entrust the work relating to wheat procurement and storage to the private sector.
http://www.sbp.org.pk/bsd/2001/CL33.htm

Quarterly & Half yearly financial statements
In terms of Para 3 of Prudential Regulation No.XXIX regarding ?Responsibilities of Board of Directors? issued vide BSD Circular No.15 dated 13th June, 2002, all banks/DFIs are, interalia, required to follow the `Code of Corporate Governance? issued by the SECP so long as any provision thereof does not come into conflict with any provision of the Banking Companies Ordinance, 1962, Prudential Regulations and the instructions/guidelines issued by the State Bank.
http://www.sbp.org.pk/bsd/2003/CL9.htm

Non Performing Loans (NPLs) Database
As you would be aware that compilation of figures of non-performing loans (NPLs) of banks has remained a very problematic issue both for the government as well as for the State Bank of Pakistan in the past.
http://www.sbp.org.pk/bsd/2001/C37.htm

Financing Facility by State Bank (Reduction in REPO Rates.
Please refer to BSD Circular No.29 dated the 16th August, 2001 through which the above rate has been reduced from 13% to 12% on annual basis.
http://www.sbp.org.pk/bsd/2001/C39.htm

Export Finance Scheme
Please refer to BSD Circular No.44 dated 21st November, 2001 along with other instructions issued on the captioned subject from time to time.
http://www.sbp.org.pk/bsd/2001/C48.htm

Minimum Capital Requirements.
Please refer to BPRD Circular No.36 dated 4th November 1997 on the above subject.
http://www.sbp.org.pk/bsd/2002/C1.htm

Inspection Of Banks/Nbfi ? Adherence To Time Schedule
As you are aware the drafts of the Inspection Reports on the affairs of Banks/NBFIs prepared by the inspection teams of our Banking Inspection Department are invariably discussed with management of the bank / NBFI, before their finalization.
http://www.sbp.org.pk/bsd/2001/C31.htm

Circular Letter No. 4
The Federal Government vide their notification No.F.3(9)Bkg-I/99 dated February 08, 2002, under the powers conferred vide section 10, sub-section 12 of the SBP Act 1956 (as amended), has appointed Mr. R.A. Chughtai, Deputy Governor SBP to act.
http://www.sbp.org.pk/bsd/2002/CL4.htm

Circular Letter No. 5
It is to be informed that Dr. Ishrat Hussain has assumed office of the Governor, State Bank of Pakistan.
http://www.sbp.org.pk/bsd/2002/CL5.htm

Strengthening of Interaction Between the SBP and Banks / DFIs
The banking sector is witnessing a change from a fully controlled and compliance-based supervisory regime to a market based one. As a result, the concept of risk-based banking supervision is gaining importance and needs to be strengthened.
http://www.sbp.org.pk/bsd/2004/C2.htm

Exchange Rates
Effective 2nd January, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C1_020193.htm

Export Finance Scheme -Reinstatement of the facilities to bleached / unbleached cloth
Please refer to the instructions contained in our BSD Circular No. 22 dated 19th August 2000 and the negative list circulated vide BSD Circular No. 35 dated 28th September 2001.
http://www.sbp.org.pk/bsd/2002/C5.htm

GUIDELINES FOR THE AUDITORS UNDER SECTION 35(3) OF BANKING COMPANIES ORDINANCE, 1962
In order to promote coordination and sharing of information between the external auditors of banks and the SBP inspectors, it has been decided that the SBP?s Inspection Teams will hold meetings with the external auditors of banks before commencement of each inspection, during which the auditors will share their audit findings with the inspectors.
http://www.sbp.org.pk/bsd/2003/CL10.htm

Exchange Rates
Effective 11th February, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C10_030293.htm

MASTER CIRCULAR ? MAINTENANCE OF STATUTORY CASH RESERVE REQUIREMENT WITH SBP
In terms of Section 36(1) of State Bank of Pakistan Act, 1956, every scheduled bank is required to maintain with SBP a balance the amount of which shall not at the close of business on any day be less than such percentage of Time & Demand Liabilities in Pakistan as determined by State Bank from time to time.
http://www.sbp.org.pk/bsd/2003/C6.htm

Prudential Regulation- XXVIII Foreign Currency Deposits under FE 25-1998
Please refer to para ?f? of BSD Circular No.21 dated 14th May, 2001 on the captioned subject.
http://www.sbp.org.pk/bsd/2002/C2.htm

Financing Facilities By State Bank (Reduction In Repo Rate)
Please refer to BSD Circular No. 39 dated the 20th October, 2001 through which the above rate has been reduced from 12% to 10% on annual basis.
http://www.sbp.org.pk/bsd/2002/C3.htm

Prudential Regulations For Microfinance Banks/Institutions
In exercise of the powers conferred under the Khushhali Bank Ordinance 2000 and Microfinance Institutions Ordinance, 2001, the State Bank of Pakistan is pleased to issue the Prudential Regulations for Microfinance Institutions/Banks with the objective to ensure that the MFIs/MFBs operate in a safe and prudent manner.
http://www.sbp.org.pk/bsd/2002/C18.htm

Exchange Rates
Effective 5th January, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C2_250193.htm

Anti-Terrorism (Amendment) Ordinance 2001
The Government of Pakistan in exercise of the powers conferred by sub section (1) of Section 11E of Anti-Terrorism Act, 1997 (XXVII), as amended, has declared Lashkar-e-Jhangvi (LJ) and Sipah-e-Muhammad Pakistan (SMP) to be the Proscribed Organization for the purposes of the said Act.
http://www.sbp.org.pk/bsd/2001/CL20.htm

Opening of Housing Refinance Window (HRW) at the State Bank of Pakistan
As you would be aware that in terms of BPRD Circular No. 10 of May 10, 1998, banks were informed that State Bank of Pakistan was in the process of opening a refinance window for long term funds from multilateral agencies.
http://www.sbp.org.pk/bsd/2001/CL25.htm

Continuance Of Banking Operation During Strikes etc.
In the recent past there has been strike calls from various political quarters, and it has been observed that some banks? branches were closed or the staff at some branches did not attend to their duties, which resulted in the disruption of normal banking operations and caused inconvenience to the general public.
http://www.sbp.org.pk/bsd/2001/CL26.htm

Local borrowing facility to non-resident Pakistanis for purchase of residential plots/houses/flats
Attention of Authorized Dealers in invited to F.E. Circular No.25 of 1991 in terms of which the facility of rupee loans to non-resident Pakistanis against security of balances held in their Foreign Currency Accounts maintained with banks in Pakistan was allowed.
http://www.sbp.org.pk/epd/1993/C11_040293.htm

Performance of Hajj during 1993
Attention of Authorized Dealers is invited to Para 1 (ii), (x) and (xii) of F.E. Circular No.99 dated the 20th December, 1992 on the above subject.
http://www.sbp.org.pk/epd/1993/c16.htm

Panel Of Auditors ? Under Section 35(1) Of Banking Companies Ordinance, 1962
Please refer to the Panel of Auditors circulated vide BSD Circular No.6 dated January 31, 2001.
http://www.sbp.org.pk/bsd/2003/CL2.htm

Restriction on travel during Hajj session
Attention is invited to paragraph 6 Chapter XVII of Foreign Exchange Manual (6th Edition, 1987).
http://www.sbp.org.pk/epd/1993/c24.htm

Import and export of currency notes and foreign exchange and retention of foreign currency
Attention is invited to F.E. Circular No. 55 dated the 27th March, 1991 in terms of which relaxation in certain regulations relating to import and export of currency notes and foreign exchange and retention of foreign currency in Pakistan were made.
http://www.sbp.org.pk/epd/1993/c26.htm

REPORTING OF LOANS / ADVANCES, ACCRUED MARK-UP AND NON-PERFORMING LOANS (Npls)
It has been observed that Banks/DFIs are currently using different approaches for recording their loans / advances, accrued mark-up and non-performing loans (NPLs) in their books of accounts.
http://www.sbp.org.pk/bsd/2003/C9.htm

Credit Rating of Microfinance Banks Prudential Regulation 29 for Microfinance Banks
The Credit Rating of financial institutions provides the depositors, investors and creditors an independent assessment as to the institutions? capacity to meet their short term and long term obligations as well their future out look and enables them to make informed decisions about investment and deposit etc in the institutions.
http://www.sbp.org.pk/bsd/2003/C10.htm

Personal Guarantee Of Private Limited Company
In terms of instructions contained in clause D of BSD Circular No. 7 dated 31st May 1972 no banking company shall, make advances to a private limited company without obtaining personal guarantee of the directors of such company, in addition to the normal security which the banking company may require. This is subject to the following relaxations as notified from time to time.
http://www.sbp.org.pk/bsd/2001/CL21.htm

Selective Credit Control- Margin On Finished Goods To Traders
Please refer to para II (2) (Advances to traders) of BCD Circular No.5 dated the 5th July, 1987 through which a margin of 75% was fixed for advances to traders against finished goods.
http://www.sbp.org.pk/bsd/2001/CL19.htm

Financing Facilities by State Bank (Enhancement in REPO Rate)
Please refer to BSD Circular No.28 dated the 4th October, 2000 through which above rate has been enhanced from 12% to 13% on an annual basis.
http://www.sbp.org.pk/bsd/2001/cir-24-6-6-01.htm

Export Finance Scheme
Please refer to BPRD Circular No. 21 dated 29th June, 1998 and BSD Circular No.22 dated 19th August, 2000 alongwith other instructions issued on the captioned subject from time to time.
http://www.sbp.org.pk/bsd/2001/C2.htm

Prudential Regulation-XXVI credit rating of the financial institutions
Please refer to BPRD Circular 15 dated June 06, 2000 on the captioned subject.
http://www.sbp.org.pk/bsd/2001/cir-3-of-24-01-01.htm

Minimum Capital Requirements
Your attention is invited to Section 3A of the Banking Companies Ordinance, 1962 as amended through the Banking Companies (Amendment) Ordinance, 2000 (copy enclosed).
http://www.sbp.org.pk/bsd/2001/cir-4-of-31-01-01.htm

Prudential Regulation No. XIII- Preview of Instructions on service charges on PLS Deposit Account Policy
It has been noted through receipt of increasing number of complaints from general public and representations received from different quarters that banks are demanding substantial amounts for opening of bank accounts and periodically deducting exorbitant sums from the depositors.
http://www.sbp.org.pk/bsd/2001/cir-12-of-17-03-01.htm

Prior Clearance Of State Bank For Appointment Of Chairman/ President/Managing Director/Chief Executive - Member Board Of Directors Of Banks/DFIS
Please refer to BPRD Circular No. 12 dated 2nd June, 2000 regarding the above.
http://www.sbp.org.pk/bsd/2002/CL1.htm

Export Finance Scheme - Repayment of loans
It has been observed that in increasing number of cases, the banks retain the amount of refinance obtained from State Bank under the Export Finance Scheme as deposits in their books on account of the exporters.
http://www.sbp.org.pk/bsd/2001/cirletter-7-30-4-01.htm

Prudential Regulation -V (B) / Rule -8(B) Of Rules Of Business For Nbfis Debt-Equity Ratio For Telecommunication Sector
Please refer to Prudential Regulation-V(b) / Rule-8(b) of the Rules of Business for NBFIs as amended from time to time.
http://www.sbp.org.pk/bsd/2001/cir-let-18-of-24-7-01.htm

Prudential Regulation-XXVIII Foreign Currency Deposits Under Fe 25-1998 xport Finance Scheme
With a view to protect the interest of foreign currency depositors under FE 25 and also to ensure a prudent utilization of these foreign currency deposits by banks and NBFIs concerned, the following Prudential guidelines are issued with immediate effect:-
http://www.sbp.org.pk/bsd/2001/cir-19-of-31-03-01.htm

Export Finance Scheme.
Please refer to BSD Circular No. 26 dated 30th June, 2001 alongwith other instructions issued on the captioned subject from time to time.
http://www.sbp.org.pk/bsd/2001/C34.htm

Release Of Security/Margin Held Against Bank Guarantee
BPD Circular No 23 of 2004 : RELEASE OF SECURITY/MARGIN HELD AGAINST BANK GUARANTEE
http://www.sbp.org.pk/bpd/2004/C23.htm

3-Day Repo Facility
It has been decided to allow access to the Investment Banks and Development Finance Institutions (DFIs) to SBP 3-Day Repo facility on the same terms and conditions as of the commercial banks.
http://www.sbp.org.pk/bsd/2002/C6.htm

Public Holiday
This is to advise that State Bank of Pakistan will remain closed on Tuesday the 5th February, 2002 being public holiday.
http://www.sbp.org.pk/bsd/2002/C7.htm

Guarantee Facility for Confirmation of L/Cs issued by Pakistani Banks
As you are aware, some international banks, before advising Letters of Credit (L/Cs) issued by some of the banks registered in Pakistan, require such L/Cs to be confirmed for a variety of reasons.
http://www.sbp.org.pk/bsd/2001/C38.htm

Part I of the Export Finance Scheme Relaxations to exporters of carpets and rugs.
Under the existing instructions on the export finance scheme, finance is available to exporters across the board for 180 days.
http://www.sbp.org.pk/bsd/2001/C40.htm

Panel Of Auditors ? Section 35 (1) Of The Banking Companies Ordinance, 1962
Please refer to the Panel of Auditors circulated vide BSD Circular No.6 and BSD Circular Letter Nos.4, 10 & 14 dated the 31st January, 28th March, 14th May, and 9th July, 2001 respectively.
http://www.sbp.org.pk/bsd/2002/CL2.htm

Freezing Of Accounts Of Entities
The Government of Pakistan in terms of SRO No. F.7/26/2001-Pol.I(3) dated the 14th January, 2002 has declared (1) Lashkar-e-Tayyiba (LT) (2) Jaish-e-Muhammad (JM) (3) Sipha-e-Sahaba Pakistan (SSP) (4) Tehrik-e-Jafferia Pakistan (TJP) (5) Tehrik-e-Nifaz-e-Shariat-e-Muhammadi (TNSM) to be the proscribed Organization for the purpose of the said Act.
http://www.sbp.org.pk/bsd/2002/CL3.htm

Rate Of Return On Deposits
Please refer to BCD Circular No.16 dated July 4, 1978 on the captioned subject.
http://www.sbp.org.pk/bsd/2001/cir-20-2-5-01.htm

Merchanting trade
Attention of Authorized Dealers is invited to para 57 Chapter XIII of the Exchange Control Manual, (6th Edition ? 1987) in terms of which State Bank considers on case to case basis applications from residents of Pakistan to finance import of goods for residents in foreign countries provided arrangements are made to receive appropriate reimbursements from the country of import in each case either through back-to back letter of credit or advance payment.
http://www.sbp.org.pk/epd/1992/c71.htm

CIB Clearance
It has come to notice of State Bank of Pakistan that banks/NBFIs reject loan requests and even in some cases do not process the loan applications of customers if CIB report of one of the group companies shows overdue on the plea that SBP?s Prudential Regulations/Rules of Business does not allow them to accommodate such customers.
http://www.sbp.org.pk/bsd/2002/CL6.htm

Financing Facilities Against Shares Prudential Regulation-VI / Rule-10(ii) of NBFIs Rules of business
Please refer to the instructions contained in para 3 of BPRD Circular No. 34 dated October 20, 1999 and BPRD Circular No. 36 dated October 27, 1999.
http://www.sbp.org.pk/bsd/2001/cir-22-1-6-01.htm

Exchange Rates
Effective 16th January, 1992, the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1992/C7_160192.htm

Amendment In Exchange Control Manual (6th Edition-1987)
We have to advise that Authorised Dealers "6enee. been granted by us to ,the "Bank Commerce Al-Habib Limited, Karachi." Consequently, following: amendment may please be made -In the Exchange Control Manual (6th Edition) 1987.
http://www.sbp.org.pk/epd/1992/C8_200192.htm

Export Finance Scheme
Please refer to BSD Circular No.44 dated 17th December, 1998 read with BSD Circular No.35 dated 28th September, 2001 on the captioned subject.
http://www.sbp.org.pk/bsd/2002/C8.htm

Export Finance Scheme- Refixation Of Rates For March, 2002
Please refer to BSD Circular No.04 dated 29th January, 2002 alongwith other instructions issued on the captioned subject from time to time.
http://www.sbp.org.pk/bsd/2002/C11.htm

Discussion of the Inspection Reports.
The draft inspection reports of banks/NBFIs, prior to its finalization, are discussed with the management of the concerned institution.
http://www.sbp.org.pk/bsd/2002/C12.htm

Forms of Financial Statements For Microfinance Banks/Institutions
In exercise of the powers conferred under Khushhali Bank Ordinance 2000 and Microfinance Institutions Ordinance, 2001, the State Bank of Pakistan is pleased to prescribe Forms of Financial Statements.
http://www.sbp.org.pk/bsd/2003/C11.htm

Prudential Regulation No. XXIX ? Responsibilities Of Board Of Directors
The State Bank attaches a great importance to effective corporate governance, clear lines of responsibility, elaborate mechanism of accountability, and existence of proper checks and balances in each bank/financial institution.
http://www.sbp.org.pk/bsd/2002/C15.htm

Panel Of Auditors ? Under Section 35(1) Of Banking Companies Ordinance, 1962
Please refer to the Panel of Auditors circulated vide BSD Circular No.6 dated January 31, 2001.
http://www.sbp.org.pk/bsd/2003/CL1.htm

Preparation Of Accounts And Balance Sheet Under Section 34 Of The Banking Companies Ordinance, 1962.
In terms of Section 34 of the Banking Companies Ordinance, 1962 the banks are required to prepare their annual accounts in the forms set out in the Second Schedule to the said Ordinance.
http://www.sbp.org.pk/bsd/2001/C36.htm

Quarterly & Half yearly financial statements
In terms of Para 3 of Prudential Regulation No.XXIX regarding ?Responsibilities of Board of Directors? notified vide BSD Circular No.15 dated 13th June, 2002, all banks/DFIs are, interalia, required to follow the `Code of Corporate Governance? issued by the SECP so long as any provision thereof does not come into conflict with any provision of the Banking Companies Ordinance, 1962, Prudential Regulations and the instructions/guidelines issued by the State Bank.
http://www.sbp.org.pk/bsd/2003/CL11.htm

Panel of Auditors - Under Section 35(I) of Banking Companies Ordinance 1962
Please refer to the Panel of Auditors circulated vide BSD Circular No.3 dated February 24, 2003.
http://www.sbp.org.pk/bsd/2003/CL12.htm

Minimum Capital Requirement (Mcr)
The banks are submitting their half-yearly MCR returns in terms of our BSD Circular # 05 dated March 25, 2003.
http://www.sbp.org.pk/bsd/2003/CL13.htm

CIB On-Line
You will be pleased to know that State Bank of Pakistan has made its Credit Information Bureau (CIB) facilities online in collaboration with Pakistan Banks Association (PBA).
http://www.sbp.org.pk/bsd/2003/C4.htm

Private foreign currency accounts
Attention of Authorized Dealers in invited to Para 2 of F.E. Circular No.32 dated the 23rd February, 1991.
http://www.sbp.org.pk/epd/1993/c27.htm

Export Finance Scheme
Please refer to BSD Circular No.48 dated 27th December, 2001 alongwith other instructions issued on the captioned subject from time to time.
http://www.sbp.org.pk/bsd/2002/C4.htm

Quarterly Report Of Condition
In its efforts to streamline the data reporting to SBP through consolidation of returns and also to adopt the international best practices in this regard, SBP has decided to revise the format of the Quarterly Report of Condition.
http://www.sbp.org.pk/bsd/2003/C12.htm

Agreements for transfer of technology payment of royalty/technical fee to the foreign collaborators.
Attention of Authorized Dealers in invited to F.E. Circular No.101 dated the 23rd December, 1992 regarding payments of Royalty / Technical Fee to the foreign collaborators.
http://www.sbp.org.pk/epd/1993/c7.htm

Evening Banking
Please refer to BSD Circular No.36 dated December 16, 2000 wherein the banks were advised to form all ?banking transactions? conducted in the evening banking as part of their trial balance for the next working day.
http://www.sbp.org.pk/bsd/2001/CL27.htm

Exchange Rates
Effective 5th January, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C3_060193.htm

Exchange Rates
Effective 9th January, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C4_090193.htm

Amendment in foreign exchange manual (6th edition - 1987)
Attention of Authorized Dealers in invited to F.E. Circular No.8 dated the 20th January 1992 on the captioned subject.
http://www.sbp.org.pk/epd/1993/c5.htm

Exchange Rates
Effective 16th January, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C6_160193.htm

Exchange Rates
Effective 2nd March, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C17_020393.htm

Exchange Rates
Effective 3rd March, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C18_030393.htm

Exchange Rates
Effective 3rd March, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C18_030393.htm

Exchange Rates
Effective 9th March, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C19_090393.htm

Payment under ACU arrangement between India - Pakistan
As you are aware, routing of transactions with member countries through ACU Arrangement was temporarily suspended by India because of adoption of dual exchange rate structure and the Indian exporters were given the option of receiving the proceeds of goods exported by them outside the ACU Arrangement.
http://www.sbp.org.pk/epd/1993/c28.htm

Payment under ACU arrangement between India - Pakistan
As you are aware, routing of transactions with member countries through ACU Arrangement was temporarily suspended by India because of adoption of dual exchange rate structure and the Indian exporters were given the option of receiving the proceeds of goods exported by them outside the ACU Arrangement.
http://www.sbp.org.pk/epd/1993/c28.htm

Prudential Regulation-VIII Classification And Provisioning (Credit Card Advances)
Please refer to BPRD Circular No.9 dated April 27, 2000 on the captioned subject.
http://www.sbp.org.pk/bsd/2001/cir-15-of-26-03-01.htm

Export Finance Scheme Finance To IT Enabled Services
As you are already aware, the Government is strongly committed towards promotion of information technology as also towards its export.
http://www.sbp.org.pk/bsd/2001/C33.htm

Export Finance Scheme.
Please refer to BSD Circular No. 26 dated 30th June, 2001 alongwith other instructions issued on the captioned subject from time to time.
http://www.sbp.org.pk/bsd/2001/C34.htm

Prudential Regulation-Vii / Rule-13(Iv) Of The Rules Of Business For NBFIs
Please refer to Prudential Regulation-VII and Rule-13(iv) of the Rules of Business for NBFIs in terms of which Banks / NBFIs are prohibited to enter into leasing, renting and sale / purchase of any kind, without the prior approval in writing of the State Bank of Pakistan, with their directors, officers, employees or persons who either individually or in concert with family members beneficially own 10% or more of the equity of the Bank / NBFI.
http://www.sbp.org.pk/bsd/2001/CL28.htm

Cases Under Consideration With Committee For Revival Of Sick Industrial Units (CRSIU)
The Ministry of Finance has set up a Committee for Revival of Sick Industrial Units under its directive of 3rd May 2000.
http://www.sbp.org.pk/bsd/2001/CL31.htm

Credit Card Operations
With a view to provide adequate safety parameters for the growth of domestic credit card operations and to protect the banks? and the customers? interests alike, the following general guidelines are issued for compliance by all banks.
http://www.sbp.org.pk/bsd/2001/cir-13-of-26-03-01.htm

Prudential Regulation-III Limit On Bank's Exposure Against Unsecured Advances
It has been decided with immediate effect to substitute the Prudential Regulation-III with the following.
http://www.sbp.org.pk/bsd/2001/cir-14-of-26-03-01.htm

RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT
RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT
http://66.201.122.6/edmd/2003/EDMD22.htm

Procedure To Be Followed In Issuing 30 Days Demand Notice By The Banks, Dfis And Financial Institutions To The Loan Defaulters And 7 Days Notice By The Governor State Bank Of Pakistan.
In the recent judgement delivered by the Honorable Supreme Court of Pakistan against National Accountability Bureau Ordinance, 1999.
http://www.sbp.org.pk/bsd/2001/cir-let-17-of-19-07-01.htm

Credit Policy- Housing Finance
Please refer to the matter resting with BPRD Circular No. 10 dated 5th May 1998 in terms of which commercial banks were allowed to advance loans for housing projects like any other industrial and commercial projects.
http://www.sbp.org.pk/bsd/2001/cir-let-16-of-13-7-01.htm

Cib-I & Ii Data Of Borrowers Of Rs. 0.5 Million And Above
Please refer to circular letter No.SBP:CIB-6(1)/1OO51/2000 dated 07th August, 2000 on the above subject.
http://www.sbp.org.pk/bsd/2001/C16.htm

Liberalization of Foreign Exchange - Information Technology Services
F.E Circulars 12: In accordance with State Bank?s policy towards liberalization of the Foreign Exchange regime ...
http://www.sbp.org.pk/epd/2004/FE12.htm

6% RESEARCH AND DEVELOPMENT SUPPORT
Attention of Authorized Dealers is invited to FE Circular No. 06 dated June 18, 2005 on the subject in terms of which 6% R&D Support was allowed to the garment industry
http://www.sbp.org.pk/epd/2006/FECL6.htm

Internal Audit Rule-21 Of The Rules Of Business For NBFIs
It has been decided with immediate effect to substitute the instructions contained in Rule-21 of the Rules of Business for NBFIs as under.
http://www.sbp.org.pk/bsd/2001/cir-28-02-08-01.htm

Rationalization/Discontinuation Of Returns
In continuation of our BSD Circular No. 17 dated August 28, 2002 we are pleased to inform you that in order to improve the quality, accuracy and timeliness of data reporting to State Bank of Pakistan, it has been decided to discontinue with immediate effect the returns mentioned at Annexure-I, currently being submitted to the Banking Supervision Department and the Banking Policy Department.
http://www.sbp.org.pk/bsd/2003/CL5.htm

Refinance facility under the Export Finance Scheme for Consultancy Services
The Government of Pakistan has accorded ?deemed export? status to the foreign earnings remitted into Pakistan against consultancy services in various service sectors of economy.
http://www.sbp.org.pk/bsd/2001/C41.htm

Business And Office Hours During The Month Of Ramzan-Ul-Mubrrak
During the ensuing month of Ramzan-ul-Mubarak the following Office hours will be observed by the Central Directorate of State Bank of Pakistan:-
http://www.sbp.org.pk/bsd/2001/C43.htm

Circular Letter No. 4
The Federal Government vide their notification No.F.3(9)Bkg-I/99 dated February 08, 2002, under the powers conferred vide section 10, sub-section 12 of the SBP Act 1956 (as amended), has appointed Mr. R.A. Chughtai, Deputy Governor SBP to act.
http://www.sbp.org.pk/bsd/2002/CL4.htm

Amendment in Bearer National Fund Bonds Rule 1985
Amendment in Bearer National Fund Bonds Rule 1985
http://66.201.122.6/edmd/2003/EDMD21.htm

Rate Of Remuneration On Cash Reserve Requirement For Deposits Raised Under Fe-Circular 25 Of 1998
Rate Of Remuneration On Cash Reserve Requirement For Deposits Raised Under Fe-Circular 25 Of 1998
http://66.201.122.6/edmd/2003/EDMD20.htm

RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998.
RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998.
http://66.201.122.6/edmd/2003/EDMD19.htm

Jumbo Issue of PIB-Accrued Interest
Jumbo Issue of PIB-Accrued Interest
http://66.201.122.6/edmd/2003/EDMD18.htm

Special Convertible Rupee Account for Non-residents
Attention of Authorised dealers is invited to instructions contained in paragraphs 6 and 7, Chapter xx of the Exchange Control Manual as revised vide F.S. Circulars Nos. 84, 104 and 122 of 1991 regarding issue and transfer of securities in favour of non-residents, where such non-residents want to make investment in Pakistan.
http://www.sbp.org.pk/epd/1992/C33_150392.htm

Direct Borrowings In Private-Sector
Attention of Authori8ed Dealers is invited to F.E. Circular No. 153 dated. the 5th December, 1991 on the subject noted above.
http://www.sbp.org.pk/epd/1992/C9_220192.htm

Business travel certification of 'T-2' forms
It is notified for information of all concerned that the address of the Trade Organization appearing at S.No. 61 of Appendix V-74 of Exchange Control Manual (6th Edition, 1987) has been changed to read as under.
http://www.sbp.org.pk/epd/1992/c49.htm

Prudential Regulation ? XXVIII Foreign Currency Deposits Under FE 25-1998
Please refer to BSD Circular No.2 dated lst January, 2002 on the captioned subject whereby the date of compliance of 20% cap on FE-25 deposits was extended up to 30-6-2002.
http://www.sbp.org.pk/bsd/2002/CL8.htm

Panel Of Auditors ? Under Section 35(1) Of Banking Companies Ordinance, 1962
Please refer to the Panel of Auditors circulated vide BSD Circular No.6 dated 31-01-2001.
http://www.sbp.org.pk/bsd/2002/CL9.htm

Exchange Rates
Effective 30th January, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C8_300193.htm

Cash Reserve Requirement for Deposits raised under FE Circular 25 of 1998
Please refer to our BSD Circular No.18 dated 31st March, 2001 on the captioned subject.
http://www.sbp.org.pk/bsd/2002/C16.htm

Guidelines on Risk Management
As you are well aware the financial institutions are exposed to various risks in pursuit of their business objectives; the nature and complexity of which has changed rapidly over time.
http://www.sbp.org.pk/bsd/2003/C7.htm

PBA Panel Of Valuers
In terms of Prudential Regulation VIII, the valuation of the realizable value of the mortgaged/pledged assets is required to be done by independent valuers listed on Pakistan Banks Association (PBA)?s Panel of Valuers.
http://www.sbp.org.pk/bsd/2003/CL3.htm

CIB Service Charges
As you are aware the State Bank of Pakistan has made its CIB facilities online from 25th February 2003.
http://www.sbp.org.pk/bsd/2003/CL4.htm

Minutes of the board of directors'
In terms of Para 2(vi) of Prudential Regulation No.XXIX regarding ?Responsibilities of Board of Directors? issued vide BSD Circular No.15 dated the 13th June, 2002, the banks/DFIs are, interalia, required to record detailed minutes of the meetings of their Board of Directors so that the deliberations and contributions of the Board can be properly evaluated by the external auditors and the regulators.
http://www.sbp.org.pk/bsd/2003/CL6.htm

Restrictions On Travel During Hajj Season
Attention is invitedF.E. Circular No. 25 dated the 30th March, 1993 on the subject noted above.
http://www.sbp.org.pk/epd/1992/C31_250492.htm

Exchange Rates
Effective 21March, 1992 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1992/C34_210392.htm

Form 'E'
Authorized Dealers are aware that the Declaration on Form 'E', format of which is prescribed in Appendix V.14 of the Exchange Control Manual (Vol.II), interlay, contains the declaration reproduced hereunder:-
http://www.sbp.org.pk/epd/1992/c78.htm

Prudential Regulation - XXIV Maintenance Of Assets In Pakistan
Please refer to BSD Circular No 20 dated 29th May, 1999 on the captioned subject.
http://www.sbp.org.pk/bsd/2002/C10.htm

Panel Of Auditors ? Under Section 35(1) Of Banking Companies Ordinance, 1962
Please refer to the Panel of Auditors circulated vide BSD Circular No.6 dated January 31, 2001.
http://www.sbp.org.pk/bsd/2002/CL12.htm

Guidelines For Mobile Banking Operations Of Microfinance Banks/ Institutions
Under the legal framework for Microfinance Institutions, the Microfinance Banks / Institutions can undertake mobile banking operations to reduce cost and increase outreach of Microfinance services.
http://www.sbp.org.pk/bsd/2003/C2.htm

Forward Sales
Enquiries have been received whether exporters in Pakistan, who receive orders for export of goods to be invoiced in a convertible currency other than the U.S. Dollar, can book forward exchange cover with banks outside Pakistan in respect of the dollar versus the contract currency exchange risk, if they do not wish to obtain a cover in Pak rupees from an Authorized Dealer in Pakistan.
http://www.sbp.org.pk/epd/1993/c9.htm

Cash Reserve Requirement For Deposits Raised Under Fe Circular 25 Of 1998
Please refer to BSD Circular No 18 dated 31st March, 2001 on the captioned subject.
http://www.sbp.org.pk/bsd/2001/cir-let-15-of-13-7-01.htm

Duty drawback claims
Authorized Dealers are aware that duty drawback claims against exports made under irrevocable letters of credit/barter arrangements are paid by the Customs without BCA on the basis of their certificates issued on the formats prescribed by us.
http://www.sbp.org.pk/epd/1992/c76.htm

Import of goods on C&F (free out basis) under charter party bills of landing
In terms of para 6 of F.E. Circular No.38 dated the 24th July, 1980, opening of letters of credit on C&F (Free out) basis requires prior approval of the Control.
http://www.sbp.org.pk/epd/1992/c77.htm

Exchange Rates
Effective 4th February, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C11_040293.htm

Panel Of Auditors Under Section 35 Of Banking Companies Ordinance 1962
Please refer to BSD Circular No.6 dated the 31st January 2001 under cover of which a panel of auditors maintained under Section 35 of the BCO, 1962 was circulated and subsequent changes/amendments were carried out in the panel from time to time.
http://www.sbp.org.pk/bsd/2003/C3.htm

Minimum Capital Requirements
Your attention is invited to Section 3A of the Banking Companies Ordinance, 1962 as amended through the Banking Companies (Amendment) Ordinance, 2000 (copy enclosed).
http://www.sbp.org.pk/bsd/2001/cir-5-of-31-01-01.htm

Master Circular ? Audit Of Annual Accounts
Your attention is invited to BID Circular No.5 dated 19th December 1972 as amended from time to time, in terms of which the external auditors of the banks, while conducting the statutory audit of a bank are required to submit a Special Report.
http://www.sbp.org.pk/bsd/2003/C1.htm

Export Finance Scheme
Please refer to BSD Circular No.02 dated 16th January, 2001 on the captioned subject.
http://www.sbp.org.pk/bsd/2001/cir-17-of-31-03-01.htm

Panel Of Auditors ? Under Section 35(1) Of Banking Companies Ordinance, 1962
Please refer to the Panel of Auditors circulated vide BSD Circular No.6 dated 31-01-2001.
http://www.sbp.org.pk/bsd/2002/CL7.htm

Panel Of Auditors ? Section 35 (1) Of The Banking Companies Ordinance, 1962
Please refer to the panel of auditors circulated vide BSD Circular No. 6 and Circular letter Nos.4 and 10 dated the 31st January, 2001, 28th March and 14th May, 2001 respectively.
http://www.sbp.org.pk/bsd/2001/cir-let-of-9-7-01.htm

E-Commerce & E-Banking
As you are aware that the Ministry of Science & Technology has been taking number of measures to promote E-Commerce and E-Banking in Pakistan, in this regard, the Ministry has also approved a project to enable the exchange of E-commercial documents.
http://www.sbp.org.pk/bsd/2001/cir-let-13-9-7-01.htm

Financing Facilities By State Bank (Reduction In Repo Rate)
Please refer to BSD Circular No.27 dated the 18th July, 2001 through which the above rate has been reduced from 14% to 13% on annual basis.
http://www.sbp.org.pk/bsd/2001/C29.htm

Management ? Board Of Directors
It has been noted that as a matter of practice some of the banks have 50% of their sponsor directors from the same family on the board of the bank.
http://www.sbp.org.pk/bsd/2001/CL32.htm

Release of foreign exchange for travel abroad
In terms of the instructions contained in Para 17, Chapter XVII of the Foreign Exchange Manual, 7th Edition, 1992, the Authorized Dealers can release to Pakistan nationals resident in Pakistan, Private Travel Exchange Quota (PTEQ) of US# 1000 over a period of two calendar years for countries other than India, Bangladesh and Afghanistan.
http://www.sbp.org.pk/epd/1993/c65.htm

Panel of Auditors under Section 35 of Banking Companies Ordinance,1962
Please refer to BPRD Circular No.25 dated the 10th October, 1995 under cover of which a panel of auditors maintained under Section 35 of the BCO, 1962 was circulated and subsequent changes/amendments were carried out in the panel from time to time.
http://www.sbp.org.pk/bsd/2001/cir-6-of-31-01-01.htm

Public Holiday
This is to advise that the Central Directorate of State Bank of Pakistan will remain closed on Monday the 5th February, 2001 being public holiday declared by the Government of Pakistan on account of Kashmir Day.
http://www.sbp.org.pk/bsd/2001/C7.htm

Financing Facilities By State Bank
As you are aware that SBP 3-Day Repo facility for meeting temporary liquidity shortages is presently available to banks against Government of Pakistan Market Treasury Bills and Federal Investment Bonds.
http://www.sbp.org.pk/bsd/2001/bsdcl-9-8-5-01.htm

Cash Reserve Requirement for Deposits raised under FE Circular 25 of 1998
In order to further liberalize foreign exchange regime it has been decided to allow banks / NBFIs to freely utilize Foreign Currency Deposits mobilized under F.E. 25 for lending / investment /placement in Pakistan and /or abroad with effect from 2nd April 2001.
http://www.sbp.org.pk/bsd/2001/cir-18-of-31-03-01.htm

Treatment Of Nominee Directors Represented On The Boards Of Public Sector Enterprises / Autonomous Bodies.
Please refer to BSD Circular No.27 dated the 18th July, 2001 through which the above rate has been reduced from 14% to 13% on annual basis.
http://www.sbp.org.pk/bsd/2001/C30.htm

Public Holiday
The Central Directorate of State Bank of Pakistan will remain closed on Friday the 9th November 2001.
http://www.sbp.org.pk/bsd/2001/C42.htm

Quarterly Report Of Condition
In terms of BSD Circular No. 14 dated 12th June, 2002 all Banks/DFIs are required to submit to this department a Quarterly Report of Condition consisting of balance sheet, profit and loss account and notes thereof.
http://www.sbp.org.pk/bsd/2003/CL8.htm

Banks Conditions For Keeping Insurers On Their Panel
It has come to the notice of SBP that some banks are demanding placement of deposits from insurance companies as a condition precedent for their enlistment on the banks panel and for the purpose of acquiring business from them which is unjustified.
http://www.sbp.org.pk/bsd/2001/CL29.htm

Export Finance Scheme ? Modifications
The Export Finance Scheme has been in operations since 1973 and has gone in to major modifications in the years 1977, 1985 and 1998. However, the procedure thereunder involved excessive documentations, thus attracting criticism from various sectors especially by the exporters who are the main users of the facility.
http://www.sbp.org.pk/bsd/2001/C35.htm

Export Finance Scheme ? Modifications
Please refer to BSD Circular No. 35 dated the 28th September 2001 on the captioned subject.
http://www.sbp.org.pk/bsd/2001/C49.htm

Bank Holiday
The Central Directorate & offices of SBP will remain closed for public dealing on Tuesday the 1st January, 2002.
http://www.sbp.org.pk/bsd/2001/C50.htm

Prudential Regulation-XXVIII Foreign Currency Deposits Under Fe 25-1998
Please refer to BSD Circular No. 19 dated March 31, 2001 on the above subject.
http://www.sbp.org.pk/bsd/2001/cir-21-2-5-01.htm

Implementation Of IAS 39 and IAS 40
Please refer to the BSD Circular No.36 dated 10th October, 2001 containing revised format of financial statements for banks.
http://www.sbp.org.pk/bsd/2002/CL10.htm

Micro finance Institutions ? Branch Licensing Policy
In terms of Section 8 of the Microfinance Institutions Ordinance, 2001, the Microfinance Institutions (MFIs) may, with the approval of State Bank of Pakistan, open new branches/places of business in the specified areas.
http://www.sbp.org.pk/bsd/2002/C13.htm

Quarterly Report Of Condition
In terms of BPRD Circular No. 23 dated June 22, 1999, banks and NBFIs are required to submit to this Department a Quarterly Report of Condition consisting of balance sheet, profit & loss account and notes thereof.
http://www.sbp.org.pk/bsd/2002/C14.htm

Amendments in Foreign Exchange Bearer Certificates
Claim for lost, stolen, destroyed, mutilated or burnt certificates.
http://www.sbp.org.pk/edmd/2002/EDMD18.htm

EDMD Circular No. 17
Auction Instructions
http://www.sbp.org.pk/edmd/2002/EDMD17.htm

Appointment of Primary Dealers for Financial Year 2003-04
Primary Dealers for Financial Year 2003-04
http://www.sbp.org.pk/edmd/2003/EDMD11.htm

Special Convertible Rupee Accounts
Authorised Dealers are aware that at present deposits under Foreign Currency Accounts Scheme are accepted on interest basis.
http://www.sbp.org.pk/epd/1992/C15_110292.htm

Amendment in Special US Dollar Bonds Rules 1998
Rupee Redemption Bonus on Special US Dollar Bonds
http://www.sbp.org.pk/edmd/2002/EDMD9.htm

Amendment in Five Years Foreign Currency
Claim of lost, stolen, destroyed mutilated or burnt Certificates.
http://www.sbp.org.pk/edmd/2002/EDMD8.htm

Amendment in Pakistan Investment Bonds Rules 2000
Ammendment in Sale of Pakistan Investment Bonds Rules
http://www.sbp.org.pk/edmd/2002/EDMD7.htm

CASH RESERVE REQUIREMENT FOR DEPOSITS
CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
http://www.sbp.org.pk/edmd/2002/EDMD6.htm

CASH RESERVE REQUIREMENT FOR DEPOSITS
CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
http://www.sbp.org.pk/edmd/2002/EDMD5.htm

Issue of shares in favour of non-residents
Authorized Dealers may please refer to paragraph 7(a), Chapter XX of the Exchange Control Manual, as revised vide F.E. Circular No.84 dated the 14th May, 1991.
http://www.sbp.org.pk/epd/1992/c79.htm

Winding up of offices of chief controller of imports & export
Pursuant to the decision taken by the Government of Pakistan as contained in Ministry of Commerce?s Public Notices No.1(2)/93-Imp. I dated the 3rd July, 1993 copies whereof are enclosed, the Offices of the Chief Controller of Imports and Exports shall cease to function with effect from 15th July, 1993 and import licenses shall no longer be issued after that date.
http://www.sbp.org.pk/epd/1993/c54.htm

Exchange Rates
Effective 15th July, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C57_150793.htm

Amendment In Exchange Control Manual (6th Edition-1987)
We have to advise that Authorised Dealer's Licence has been granted by us to the?Mehran Bank Limited, Karachi" Consequently, following amendment may please be madein the Exchange Control Manual (6Th Edition) 1987.
http://www.sbp.org.pk/epd/1992/C11_260192.htm

Amendment In Exchange Control Manual (6th Edition-1987)
We have to advise that Authorised Dealer's Licence has been granted by us to the "Union Bank Limited". Consequently, following amendment may please be made in the Exchange Control Manual (6th Edition 1987).
http://www.sbp.org.pk/epd/1992/C12_290192.htm

Amendment In Exchange Control Manual (6th Edition-1987)
We have to advise that Authorised Dealer's Licence has been granted by us to the "Bolan Bank Limited".
http://www.sbp.org.pk/epd/1992/C17_180292.htm

Procedure For Acceptance Of Hajj Applications Under. Sponsorship Scheme -1992
Attention of Authorised Dealers is invited to our F.B. Circular No. 158 dated 21st, December, 1991 regarding the above.
http://www.sbp.org.pk/epd/1992/C18_200292.htm

Exchange Rates
Effective 10th March, 1992 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1992/C28_100392.htm

Exchange Rates
Effective 8th October, 1992 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates:-
http://www.sbp.org.pk/epd/1992/C80_081092.htm

Exchange Rates
Effective 10th October, 1992 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rate.
http://www.sbp.org.pk/epd/1992/C81_101092.htm

Business travel certification of 'T-2' forms
Please add the name of All Pakistan Textile Processing Mills Association 3, Sitara Market, Maqbool Road, Rex-Crossing, Faisalabad at Serial No.4 of the list of Trade Associations given in Appendix V-74 of Exchange Control Manual (6th Edition, 1987).
Attention of Authorized Dealers is invited to F.E. Circular No.51 dated the 2nd June, 1992 on the subject noted above.

RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
http://www.sbp.org.pk/edmd/2003/EDMD2.htm

CASH RESERVE REQUIREMENT FOR DEPOSITS
CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
http://www.sbp.org.pk/edmd/2002/EDMD1.htm

CASH RESERVE REQUIREMENT FOR DEPOSITS
CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
http://www.sbp.org.pk/edmd/2001/EDMD13.htm

Authorised Money Changers (revisions in the terms and conditions for grant of Authorised Money Changer's Licenses)
Attention of the Authorized Dealers is invited to F.E. Circular No.24 of 1989 in terms of which borrowers have been given an option to take the exchange risk coverage either from the date of opening of letter of credit or from the date of disbursement. In cases where the cover is taken from the date of disbursement, conversion of foreign currency amounts of the loan/interest for fixing the liability of the borrowers into Pakistan rupees is made at the Authorized Dealer?s T.T. & O.D. Spot Selling rate obtaining on the date of disbursement.
http://www.sbp.org.pk/epd/1992/c50.htm

Direct borrowing in private sector inclusive of suppliers credits / guaranteed loans/paye loans - absorption of exchange risk by the government against payment of fee
Attention of Authorized Dealers is invited to F.E. Circular No.44 dated the 30the April, 1992 on the subject noted above.
http://www.sbp.org.pk/epd/1992/c51.htm

EDMD Circular No. 9
Primary Dealer's Holding of PIBs at day end not to exceed 15% of total issue.
http://www.sbp.org.pk/edmd/2001/EDMD9.htm

Direct borrowing in private sector inclusive of suppliers credits / guaranteed loans/paye loans - absorption of exchange risk by the government against payment of fee
Attention of Authorized Dealers is invited to F.E. Circular No.41 dated the 31st May, 1993 on the subject noted above.
http://www.sbp.org.pk/epd/1993/c59.htm

Direct borrowing in private sector inclusive of suppliers credits / guaranteed loans/paye loans - absorption of exchange risk by the government against payment of fee
Attention of Authorized Dealers is invited to F.E. Circular No.142 dated the 6th October, 1991 on the above subject.
http://www.sbp.org.pk/epd/1992/c48.htm

CASH RESERVE REQUIREMENT FOR DEPOSITS
CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
http://www.sbp.org.pk/edmd/2002/EDMD4.htm

Amendment in Special US Dollar Bonds Rules 1998
Amendment in Special US Dollar Bonds Rules 1998
http://www.sbp.org.pk/edmd/2002/EDMD3.htm

Exchange Rates
Effective 22nd July, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C58_220793.htm

CASH RESERVE REQUIREMENT FOR DEPOSITSRAISED
CASH RESERVE REQUIREMENT FOR DEPOSITSRAISED UNDER FE-CIRCULAR 25 OF 1998
http://www.sbp.org.pk/edmd/2001/EDMD12.htm

Redemption of Special US Dollar Bonds
Redemption of Special US Dollar Bonds
http://www.sbp.org.pk/edmd/2001/EDMD11.htm

CASH RESERVE REQUIREMENT FOR DEPOSITS
CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
http://www.sbp.org.pk/edmd/2001/EDMD10.htm

Standard terms for contracting foreign private loans/credits
Attention of the Authorized Dealers is invited to F.E. Circular No.36 of 1991 in terms of which entrepreneurs in the Industrial Sector were allowed to negotiate rate of interest, front-end fees/charges and repayment period for cash loans/credits, on the best possible terms.
http://www.sbp.org.pk/epd/1993/c46.htm

Restrictions on travel during Hajj season
Attention is invited to F.E. Circular No.25 dated the 30th March, 1993 on captioned subject.
http://www.sbp.org.pk/epd/1993/c31.htm

Release of foreign exchange for travel abroad - levy of 5% tax
Attention of the Authorized Dealers is invited to F.E. circular No.70 dated the 19th October, 1993 on the above subject.
http://www.sbp.org.pk/epd/1993/c75.htm

Travel Abroad
Attention is invited to paragraphs 17, 18 and 25 chapter XVII of Foreign Exchange Manual (7th Edition, 1992) in terms of which powers have been delegated to Authorized Dealers to sell foreign exchange to Pakistan nationals resident in Pakistan for travel abroad without prior approval of the State Bank on production of the following.
http://www.sbp.org.pk/epd/1993/c43.htm

RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR
RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR
http://www.sbp.org.pk/edmd/2002/EDMD21.htm

RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR
RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
http://www.sbp.org.pk/edmd/2002/EDMD20.htm

RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR
RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
http://www.sbp.org.pk/edmd/2002/EDMD19.htm

Exchange Rates
Effective 26th June, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C50_260693.htm

Exchange Rates
Effective 23rd December, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C80_231293.htm

Release of foreign exchange for travel abroad - levy of 5% tax
Attention of Authorized Dealers is invited to F.E. Circular No.70 dated the 19th October, 1993 on the subject noted above.
http://www.sbp.org.pk/epd/1993/c81.htm

Amendment in Special US Dollar Bonds Rules 1998
Amendment in Special US Dollar Bonds Rules 1998
http://www.sbp.org.pk/edmd/2003/EDMD10.htm

RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT
RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
http://www.sbp.org.pk/edmd/2003/EDMD9.htm

REDEMPTION OF SPECIAL US DOLLAR BONDS
-PROCEDURE OF REDEMPTION OF SPECIAL US DOLLAR BONDS OF 3 YEARS MATURITY
http://www.sbp.org.pk/edmd/2001/EDMD8.htm

CASH RESERVE REQUIREMENT FOR DEPOSITS
CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
http://www.sbp.org.pk/edmd/2001/EDMD7.htm

SH RESERVE REQUIREMENT FOR DEPOSITS RAISED
SH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
http://www.sbp.org.pk/edmd/2001/EDMD6.htm

Redemption of Special US Dollar Bonds
Redemption of Special US Dollar Bonds
http://www.sbp.org.pk/edmd/2001/EDMD5.htm

Non-Competitive Bids-Modus Operandi
Modus Operandi of Non-Competitive Bids
http://www.sbp.org.pk/edmd/2003/EDMD14.htm

Performance Of Hajj During 1992
Attention of Authorised Dealers is invited to Para 1(ii) , (x) and (xii) of F.E. Circular No. 158 dated the 21st.Decemberp 1991 on the above subject.
http://www.sbp.org.pk/epd/1992/C13_040292.htm

Amendment In Exchange Control Manual (6th Edition-1987)
We have to advise that Authorised Dealer's Licence has been granted by us to the "Indus Bank Limited". Consequently following amendment may please be made in the Exchange Control Manual (6th Edition) 1987.
http://www.sbp.org.pk/epd/1992/C14_090292.htm

Exchange Rates
Effective 4th June, 1992 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1992/C52_040692.htm

Foreign Currency Deposits
Under the present arrangements the foreign exchange, in respect of foreign currency deposits mobilized under (I) Private Foreign Currency Accounts Scheme by Authorized Dealers (ii) under F.E. Circular No.45 of 1985 as amended from time to time (iii) deposits mobilized by the Investment Banks under F.E. Circular No.36 of 1992 and (iv) deposits mobilized by the Development Finance Institutions/Non-Bank Financial Institutions under specific permission granted by State Bank of Pakistan is required to be surrendered to the State Bank.
http://www.sbp.org.pk/epd/1992/c54.htm

Import of free list items on consignment basis
In terms of Para 2(I) of F.E. Circular No.86 dated the 5th September, 1990, contract for import on consignment basis against import Licenses is to be registered by the Authorized Dealers whose name appears on the import license.
http://www.sbp.org.pk/epd/1992/c55.htm

Exchange Rates
Effective 13th April, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C29_130493.htm

Revision in the code lists including the code list No.3 pertaining to Country / Territory and organization.
Attention of Authorized Dealers in invited to F. E. Circular No.52 dated the 27th June, 1984 regarding revision in the code lists including the code list No.3 pertaining to Country / Territory and organization.
http://www.sbp.org.pk/epd/1993/c30.htm

Pakistan's credit of US$ 5o million to Iraq
Attention of Authorized Dealers is invited to F.E. Circular No.57 dated the 16th June, 1992 on the captioned subject.
http://www.sbp.org.pk/epd/1993/c47.htm

Non-Competitive Bids-Modus Operandi
Modus Operandi of non-competetive bids
http://www.sbp.org.pk/edmd/2003/EDMD13.htm

Release of foreign exchange for travel abroad - levy of 5% tax
Attention of Authorized Dealers is invited to F.E. Circulars No.51 dated the 28th June, 1993, No. 60 dated the 26th July, 1993 and No.62 dated the 17th August, 1993 on the above subject.
http://www.sbp.org.pk/epd/1993/c70.htm

Exchange Rates
Effective 26th May, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C40_260593.htm

Exchange Rates
Effective 13th July, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C55_130793.htm

Exchange Rates
Effective 14th July, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C56_140793.htm

Remittances Of Deposits Of Pakistan's Nationals In The Banks Of Kuwait.
We understand from Ambassador of Pakistan in Kuwait that the Pakistani nationals who were forced to return from Kuwait as a result of Gulf Crisis can now claim their deposits held in their accounts maintained with the banks in Kuwait. Such claims can be sent to the banks in Kuwait through the bank in Pakistan, Withdrawals can be through the cheques drawn on the banks in Kuwait which will be accepted by the Authorised Dealers in Pakistan on collection basis.
http://www.sbp.org.pk/epd/1992/C19_200292.htm

Exchange Rates
Effective 25th February, 1992 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1992/C20_250292.htm

SELECTION OF PRIMARY DEALERS FOR CONDUCTING GOVERNMENT
Mofication in selection criteria of primary dealers
http://www.sbp.org.pk/edmd/2000/13102k_.htm

Rate Of Remuneration On Cash Reserve Requirement For Deposits Raised Under Fe-Circular 25 Of 1998
EDMD Circular No 01 of 2004: Rate of Remuneration on Cash Reserves Requirement for deposits raised under FE-Circular 25 of 1998
http://www.sbp.org.pk/edmd/2004/EDMD1.htm

Trade embargo against Serbia and Montenegro
It is advised that the U.N. Security Council has adopted Resolution No.757 imposing sanctions against Serbia and Montenegro (former Yugoslavia).
http://www.sbp.org.pk/epd/1992/c61.htm

Issue of securities and NIT units to persons resident outside Pakistan on non-repatriable basis
Attention of Authorized Dealers is invited to the instructions contained in sub-Para (d) of Paragraph 6, Chapter XX of the Foreign Exchange Manual.
http://www.sbp.org.pk/epd/1993/c76.htm

Sanctions imposed by U.N. security council against Libya
Effective 00.01 EST on 1st December, 1993, U.N. Security Council has imposed some sanctions against Libya vide Resolution No.883 of 1993. These sanctions are mandatory in nature and all members of the United Nations are bound to implement these regulations.
http://www.sbp.org.pk/epd/1993/c77.htm

Exchange Rates
Effective 15th December, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C78_071293.htm

Amendment in Special US Dollar Bonds Rules, 1998
Reinvestment of Special US Dollar Bonds after maturity
http://www.sbp.org.pk/edmd/2002/EDMD16.htm

RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
http://www.sbp.org.pk/edmd/2002/EDMD15.htm

Master Swap Agreement
Master Swap Agreements
http://www.sbp.org.pk/edmd/2002/EDMD14.htm

RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
http://www.sbp.org.pk/edmd/2002/EDMD13.htm

CASH RESERVE REQUIREMENT FOR DEPOSITS
CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998.
http://www.sbp.org.pk/edmd/2002/EDMD12.htm

Exchange Rates
Effective 20th May, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C39_200593.htm

SELECTION OF PRIMARY DEALERS FOR CONDUCTING
Selection Criterial of Primary Dealers
http://www.sbp.org.pk/edmd/2000/1962k.htm

PROCEDURE RELATING TO ISSUE, MANAGEMENT, REPAYMENT etc-SPECIAL
PROCEDURE RELATING TO ISSUE, MANAGEMENT, REPAYMENT etc-SPECIAL U.S.DOLLER BONDS(REGISTERD & BEARER OF THREE, FIVE AND SEVEN YEARS MATURITY
http://www.sbp.org.pk/edmd/2000/3062k.htm

Exchange Rates
Effective 10th July, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C53_100793.htm

Direct borrowing in private sector inclusive of suppliers credits / guaranteed loans/paye loans - absorption of exchange risk by the government against payment of fee
Attention of Authorized Dealers is invited to F.E. Circular No.51 dated the 2nd June, 1992 on the subject noted above.
http://www.sbp.org.pk/epd/1992/c66.htm

Duty draw back against BCA/Bank Certificates
It has been brought to our notice by the Custom authorities that the banks are not issuing the Bank Credit Advices/Bank Certificates for claiming duty draw back strictly on the formats prescribed by the State Bank.
http://www.sbp.org.pk/epd/1993/c64.htm

Mobilisation of foreign currency deposits by the investment banks
It has been decided to allow the Investment Banks to raise foreign currency funds from abroad through issue of Certificates of Investment, which shall bear maturity of not less than 3 months.
http://www.sbp.org.pk/epd/1992/c36.htm

Issuance of Form 'E' certificates
Attention of Authorized Dealers is invited to Para 3 of F.E. Circular No.2 dated the 7th January, 1992 in terms of which Form 'E' certificates are to be issued on the letter head by the authorized officers indicating their names & Attorney numbers.
http://www.sbp.org.pk/epd/1992/c47.htm

Release of foreign exchange for travel abroad - levy of 5% tax
Attention of Authorized Dealers is invited to F.E. Circular No.51 dated the 28th June, 1993 read with F.E. Circular No.60 dated the 26th July, 1993 in terms of which 5% withholding tax is required to be collected at the time of release of foreign exchange for travel abroad except for Hajj, Umrah, Official tour and medical treatment of Government officials.
http://www.sbp.org.pk/epd/1993/c62.htm

Exchange Rates
Effective 17th June, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C48_170693.htm

Exchange Rates
Effective 22nd June, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C49_220693.htm

Trade With The Republics Of Former USSR
Consequent upon dismemberment of USSR, payment arrangement enumerated in para. 51(f) Chapter XIII 11 the Exchange Center Manual (6th Edition 1987) has become redundant. It has, therefore, been decided that instructions contained in the aforesaid para shall cease with immediate effect.
http://www.sbp.org.pk/epd/1992/C6_140192.htm

Issuance Of Form `E? Certificates
Attention is Invited to paragrapb.27 Chapter XII of Exchange Control Manual, 6tb Edition, 1987 in terms of which Carrier Companies have been permitted to accept payment of freight in Rupees on cargo shipped on C&F or CIF basis provided the exporter produces to them a certificate from an Authorised Dealer in the form given in the said paragraph.
http://www.sbp.org.pk/epd/1992/C2_070192.htm

Defunct Eco Multilateral Payments Arrangement
Attention of Authorised Dealers is invited to F.E. Circular No. 88 dated the,23rd May,1991 regarding claims under the letters of credit opened uPto,31st October, 1990
http://www.sbp.org.pk/epd/1992/C3_070192.htm

Amendment In Exchange Control Manual (6th Edition-1987)
We have the advise that Authorised Dealer's Licence has been granted by us to the ?AL-BARAKA ISLAMIC INVESTMENT BANK B.S.C. (E.C.).Lahore.
http://www.sbp.org.pk/epd/1992/C4_120192.htm

Restrictions on travel during Hajj season
Attention is invited to F.E. Circular No.42 dated the 18th April, 1992.
http://www.sbp.org.pk/epd/1992/c46.htm

Trade embargo with Serbia of residents in Pakistan
Attention of Authorized Dealers is invited to F.E. Circular No.61 dated the 25th June, 1992 regarding sanctions imposed by United Nations against Serbia and Montenegro.
http://www.sbp.org.pk/epd/1993/c32.htm

Exchange Rates
Effective 12th May, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C33_120593.htm

Amendment in foreign exchange manual (6th edition-1987)
The following amendment may please be made in the Foreign Exchange Manual (6th Edition), 1987.
http://www.sbp.org.pk/epd/1993/c34.htm

Withholding tax on foreign exchange proceeds
Attention of Authorized Dealers is invited to F.E. Circular No.60 of 24th June, 1992 regarding deduction of withholding tax on foreign exchange proceeds realized against export of goods.
http://www.sbp.org.pk/epd/1992/c62.htm

Exports - Attachment to Form 'E'
Attention of Authorized Dealers is invited to our F.E. Circular No.83 dated the 15th December, 1988 and No.73 dated the 23rd November, 1989.
http://www.sbp.org.pk/epd/1992/c63.htm

Direct Borrowings In Private Sector Inclusive Of Suppliers Credits/ Guaranteed Loans/Payee Loans-Absorption Of Exchange Risk By The Government Against Payment Of Fee
Attention of Authorised Dealers is invited to F.E. Circular No. 9 dated the 22nd January, 1992 on the subject noted above.
http://www.sbp.org.pk/epd/1992/C29_100392.htm

Foreign Currency Accounts Scheme
Attention of Authorised Dealers is invited to F.E. Circular No. 45 dated the 11th August, 1985, in terms of which they have been allowed to accept foreign currency term deposits under the Foreign Currency Accounts Scheme from banks operating abroad and financial institutions etc.
http://www.sbp.org.pk/epd/1992/C26_030392.htm

Amendment In Exchange Control Manual (6th Edition-1987)
We have to advise that Authorised Dealer's Licence has, been granted by us to the "Soneri Bank Limited". Consequently, following amendment may please be made in the Exchange Control Manual (6th Edition) 1987
http://www.sbp.org.pk/epd/1992/C27_090392.htm

Pakistan's credit of US$ 50 Million to Iraq
Attention of Authorized Dealers is invited to F.E. Circular No.57 dated the 16th June, 1992.
http://www.sbp.org.pk/epd/1992/c64.htm

Issue of foreign exchange bearer certificates to firms against inward remittances
Attention of Authorized Dealers is invited to F.E. Circular No.38 of 1985 as amended from time to time.
http://www.sbp.org.pk/epd/1992/c65.htm

Exchange Rates
Effective 8th June, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C44_080693.htm

Rupee loans and credits to foreign controlled companies
The instructions laid down in Paragraph 4, Chapter XIX of the Foreign Exchange Manual, empower Authorized Dealers to grant rupee loan and credits to foreign controlled companies to the extent of their entitlement which is related to the borrower?s paid-up capital, reserves, undistributed profits and unremitted dividends.
http://www.sbp.org.pk/epd/1993/c45.htm

Pakistan's credit of US$ 50 Million to Iraq
Attention of Authorized Dealers is invited to F.E. Circular No.65 dated the 1st November, 1989 as amended from time to time.
http://www.sbp.org.pk/epd/1992/c57.htm

Rules Governing Primary Dealer System
Criteria for appointment of Primary Dealers
http://www.sbp.org.pk/edmd/2003/EDMD8.htm

RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
http://www.sbp.org.pk/edmd/2003/EDMD7.htm

RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT
RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT
http://www.sbp.org.pk/edmd/2003/EDMD6.htm

Payment Of Royalty And Technical Fee To Non-Residents
Attention of Aut1horised Dealers is invited to the instructions contained in F.S. Circular No. 55 dated the 17th July, 1984 concerning payment of royalty & technical fee to the non-residents in accordance with the standard terms prescribed for transfer of‑technology agreements.
http://www.sbp.org.pk/epd/1992/C16_170292.htm

Submission of exchange control copy of bill of entry in respect of imports
In terms of Para 45 (iii), Chapter XIII of the Exchange Control Manual (Sixth Edition, 1987), Authorized Dealers are required to submit a monthly overdue statement to the area Office of the Exchange Control showing cases where Bills of Entry/Certified Invoices have become overdue during the month.
http://www.sbp.org.pk/epd/1992/c56.htm

Trade embargo on Haiti
It is advised that Resolution No.841(1993) adopted unanimously by the United Nations! Security Council in its 3238th meeting on 16th June, 1993 imposes trade embargo against Haiti.
http://www.sbp.org.pk/epd/1993/c63.htm

Special Convertible Rupee Accounts
Attention of Authorised Dealers is invited to F.E. Circular No. 15 dated the 11th February, 1992 on the subject noted above.
http://www.sbp.org.pk/epd/1992/C25_030392.htm

Amendment in foreign exchange manual (7th edition-1992)
Attention of Authorized Dealers is invited to F.E. Circular No.11 dated the 6th April, 1978.
http://www.sbp.org.pk/epd/1993/c71.htm

Restriction on travel during Hajj season
Attention is invited to paragraph 6 Chapter XVII of Foreign Exchange Manual (6th Edition, 1987) in terms of which Airlines/Shipping Companies/Travel Agents are prohibited from issuing tickets providing for travel to Saudi Arabia and adjoining countries.
http://www.sbp.org.pk/epd/1992/c37.htm

Exchange Rates
ffective 14th April, 1992 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1992/C39_140492.htm

Amendment in the Exchange Control Manual (6th Edition, 1997)
We have to advise that Authorized Dealer?s License has been granted by us to the "Askari Commercial Bank Limited". Consequently, following amendment may please be made in the Exchange Control Manual (6th Edition) 1987.
http://www.sbp.org.pk/epd/1992/c40.htm

RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT
RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998.
http://www.sbp.org.pk/edmd/2003/EDMD5.htm

Exchange Rates
Effective 15th May, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C35_150593.htm

Direct borrowings in private sector inclusive of suppliers credits/guaranteed loans - absorption of exchange risk by the government against payment of fee
Attention of Authorized Dealers in invited to F.E. Circular No.48 of 1992 on the noted above subject.
http://www.sbp.org.pk/epd/1993/c36.htm

-No title- New FE Manual Published (Seventh Edition)
The seventh edition of Foreign Exchange Manual 1992 has been published in two volumes.
http://www.sbp.org.pk/epd/1993/c37.htm

Mobilisation of foreign currency deposits by the investment banks
Attention of the Authorized Dealers is invited to F.E. Circular No.36 of 1992 in terms of which the Investment Banks were allowed to raise foreign currency funds from abroad through issue of Certificates of Investment of at least 3 months maturity.
http://www.sbp.org.pk/epd/1993/c38.htm

Release of Foreign Exchange for Education
Authorized Dealers are aware that dependents of Pakistan nationals resident in Pakistan, who proceed abroad for education can be released foreign exchange for their living expenses in accordance with the instructions laid down in paragraph 39, Chapter XVII of the Foreign Exchange Manual.
http://www.sbp.org.pk/epd/1993/c82.htm

Exports - application of exchange rates
Under the existing rules Authorized Dealers are required to convert inward remittances on account of exports at the T.T. Clean buying rate where documents are sent on collection basis or where advance payment is received.
http://www.sbp.org.pk/epd/1993/c83.htm

Amendment In Exchange Control Manual (6th Edition-1987)
The page 2 of the existing Form ?T-2? (Appendix-V-74A) prescribed vide Sub-para ( i ) of paragraph 29(A)chapter xvii Exchange Control Manual, 6th Edition1987 may please be replaced with the revised page 2 enclosed herewith'.
http://www.sbp.org.pk/epd/1992/C1_050192.htm

Country/ Territory and organization
Attention of Authorised Dealers is invited to F.E. Circular No. 52 dated the, 27th June, 1984 regarding. revision in the Code Lists including the Code List No. 3 pertaining to Country/ Territory and organization.
http://www.sbp.org.pk/epd/1992/C30_150493.htm

Exchange Rates
Effective 14th March, 1992 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1992/C32_140392.htm

RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998.
RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998.
http://66.201.122.6/edmd/2003/EDMD15.htm

RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER
RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998.
http://www.sbp.org.pk/edmd/2004/EDMD1.htm

Import waiver of the requirement of import license of approved suppliers of additives
Attention of Authorized Dealers is invited to Annexure `A? attached to F.E. Circular No.42 dated the 13th March, 1991 read with F.E. Circulars No.113 dated the 24th July, 1991 and No.141 dated the 28th September, 1991 containing the names of the approved suppliers of lubricating additives from whom imports can be made without obtaining Import License.
http://www.sbp.org.pk/epd/1992/c43.htm

Direct borrowing in private sector inclusive of suppliers credits / guaranteed loans/paye loans - absorption of exchange risk by the government against payment of fee
Attention of Authorized Dealers is invited to F.E. Circular No.29 dated the 10th March, 1992 on the subject noted above.
http://www.sbp.org.pk/epd/1992/c44.htm

Exchange Rates
Effective 5th May, 1992 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1992/C45_050592.htm

Release of foreign exchange for travel abroad - levy of 5% tax
Attention of Authorized Dealers is invited to F.E. Circular No.51 dated the 28th June, 1993 in terms of which 5% withholding tax is required to be collected at the time of release of foreign exchange for travel abroad except for Hajj and Umrah or official tour.
http://www.sbp.org.pk/epd/1993/c60.htm

Deposit of fee - revision in the rate of fine - amendment
Effective 16th August, 1993, the rate of fine to be charged from the Authorized Dealers for late deposit of (I) Exchange Risk Coverage Fee, (ii) Counterpart funds in respect of imports under Foreign loans/credits, and (iii) import fee shall stand revised from Rs.4/- to Rs.4.55 per day per Rs.10,000/- or part thereof.
http://www.sbp.org.pk/epd/1993/c61.htm

Exchange Rates
Effective 16th April, 1992 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1992/C41_050592.htm

Directive by SBP regarding the procedure for reporting transactions routed through the 'Special Convertible Rupee Account' and the relative code numbers
Attention of Authorised Dealers is invited to para 4 of F.E. Circular No.33 dated the 15th March, 1992 regarding trading in shares quoted on the Stock Exchanges in Pakistan on repatriable basis by non-residents. The procedure to be following in this behalf is appended
http://www.sbp.org.pk/epd/1992/c38.htm

Business travel certification of 'T-2' forms
Attention of Authorized Dealers is invited to F.E. Circular No.49 dated the 23rd May, 1992 regarding the above.
http://www.sbp.org.pk/epd/1992/c53.htm

Amendment in Special Us Dollar Bonds 1998
Amendment in Special Us Dollar Bonds 1998
http://www.sbp.org.pk/edmd/2001/EDMD3.htm

OPEN MARKET OPERATIONS (OMO?s)
OPEN MARKET OPERATIONS (OMO?s)
http://www.sbp.org.pk/edmd/2001/EDMD2.htm

Appointment of Primary Dealers for conducting Government Securities
Appointment of Primary Dealers for conducting Government Securities
http://www.sbp.org.pk/edmd/2001/18-6-01.htm

RATE OF REMUNERATION ON
RATE OF REMUNERATION ON 20% SPECIAL CASH RESERVE ACCOUNT (US $)
http://www.sbp.org.pk/edmd/2001/CL2.htm

Collection Of Freight Under, Cargo Consolidation System And Reporting Thereof To State Bank
Under the existing banking practice and procedure, banks in Pakistan accept Dills of Lading, Airway Dills, Railway or Truck- receipts or any other documents of title to cargo which indicate that the goods have bean loaded on board or shipped on a named vessel and that the same has been issued by the carrier itself or by its authorised agent.
http://www.sbp.org.pk/epd/1992/C23_290292.htm

Exchange Rates
Effective 3rd March, 1992 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1992/C24_030392.htm

ASSUMPTION OF OFFICE AS H.O.T. BY MR. ZAFAR M. SHAIKH.
ASSUMPTION OF OFFICE AS H.O.T. BY MR. ZAFAR M. SHAIKH.
http://www.sbp.org.pk/edmd/2003/EDMD4.htm

Booking Of Passage Against Encashment Certificate
At present two sets of encashment certificates are in vogue which are meant f or encashment of f foreign currency notes coins and other instruments brought from abroad by incoming passenger (paragraph 2 Chapter XI and Appendix V-13 of Exchange Control Manual 1987 ) and for booking of outward passage against enjambment certificates of Authorised Dealers (paragraphs , 5(111) and 8(e) (i) Chapter XVII and Appendix V-70 of Exchan6e Control Manual -1987). Since both the formats of encashment certificates are similar in nature, it has been decided to abolish the existing formats on Appendix V-13 and appendix V-70 and to introduce a new single encashment certificate (Appendix V-13) as per-copy enclosed which will be used both, for encashment of foreign exchange for local use and for recon version of unspent balance of Pakistan rupees in-foreign exchange as laid down in paragraph 39 Chapter XVII and for outward booking of passages of Pakistan nationals as laid down in paragraphs,5(iii) and 8(e) (i) Chapter,-XVII ibid.
http://www.sbp.org.pk/epd/1992/C5_130192.htm

Exchange Rates
Effective 25th January, 1992 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1992/C10_250192.htm

Payment of Commission on exports
Attention of Authorized Dealers is invited to Para 29(ii) (c) Chapter XII of the Foreign Exchange Manual (Seventh Edition, 1992).
http://www.sbp.org.pk/epd/1993/c72.htm

Release of foreign exchange for travel abroad - levy of 5% tax
In terms of sub-section (5B) of Section 50 of the Income Tax Ordinance, 1979 introduced through Finance Bill, 1993, Authorized Dealers are required to collect w.e.f. 1-7-1993 withholding tax @ 5% at the time of release of foreign exchange for travel abroad including business travel against 'T', T-1, T-2 forms and Blanket Permission but excluding travel for Hajj and Umrah or on official tour.
http://www.sbp.org.pk/epd/1993/c51.htm

Exchange Rates
Effective 8th July, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C52_080793.htm

APPOINTMENT OF PRIMARY DEALER FOR CONDUCTING
List of Appointmented Primary Dealers
http://www.sbp.org.pk/edmd/2002/EDMD11.htm

Direct borrowing in private sector inclusive of suppliers credits / guaranteed loans/paye loans - absorption of exchange risk by the government against payment of fee
Attention of Authorized Dealers is invited to F.E. Circular No.23 dated the 21st March, 1993 on the subject noted above.
http://www.sbp.org.pk/epd/1993/c41.htm

Exchange Rates
Effective 5th June, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C42_050693.htm

Remittance of Aircraft Lease Rental by Airlines Incorporated in Pakistan
EPD Circular No 08 of 2004 - Attention of Authorized Dealers (ADs) is invited to the present practice regarding the cases of remittances...
www.sbp.org.pk/epd/2004/FE8.htm

Clarification-Know Your Customer (Prudential Regulation M-1)-Incentive To Registered Aliens
BPD Circular Letter 25 of 2004 - Clarification-Know your Customer(Prudential Regulation M-1) - Incentive to Registered Aliens
http://www.sbp.org.pk/bpd/2004/CL25.htm

Direct borrowing in private sector inclusive of suppliers credits / guaranteed loans/paye loans - absorption of exchange risk by the government against payment of fee
Attention of Authorized Dealers is invited to F.E. Circular No.67 dated the 21st September, 1993 on the subject noted above.
http://www.sbp.org.pk/epd/1993/c73.htm

Tax on foreign exchange proceeds on account of export of goods
Attention of Authorized Dealers is invited to F.E. Circular No.69 dated the 1st August, 1992 regarding the above.
http://www.sbp.org.pk/epd/1992/c72.htm

Exchange Rates
Effective 29th February, 1992 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1992/C21_290292.htm

Amendment In Exchange Control Manual (6th Edition-1987)
We have to advise that Authorised Dealer's Licence has been granted by us to the "Prime Commercial Bank Limited". Consequently, following amendment may please be made in the Exchange Control Manual (6th Edition) 1987.
http://www.sbp.org.pk/epd/1992/C22_290292.htm

-No title- procedure prescribed for processing Hajj applications under the Sponsorship Scheme for Hajj 1994 (1414 A.H.)
The following procedure has been prescribed for processing Hajj applications under the Sponsorship Scheme for Hajj 1994 (1414 A.H.).
http://www.sbp.org.pk/epd/1993/c74.htm

Exchange Rates
Effective 26th March, 1992 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1992/C35_260392.htm

Exchange Rates
Effective 27th August, 1992 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates :-
http://www.sbp.org.pk/epd/1992/C73_270892.htm

Foreign Currency Deposits
Attention of Authorized Dealers is invited to F.E. Circular No.54 dated the 7th June, 1992 on the subject noted above.
http://www.sbp.org.pk/epd/1992/c59.htm

Tax on foreign exchange proceeds on account of export of goods
Through the Finance Act, 1992, an amendment has been made in the Income Tax Ordinance, 1979, whereby the existing withholding tax regime has been extended to include the class of exporters as well.
http://www.sbp.org.pk/epd/1992/c60.htm

Clarification regarding with-holding tax on export proceeds
Attention of Authorized Dealers is invited to F.E. Circulars No.60 and 62 of 1992 on the above subject.
http://www.sbp.org.pk/epd/1992/c69.htm

Commission on exports
Attention of Authorized Dealers is invited to F.E. Circulars Nos. 107 and 115 dated the 11th and 25th July, 1991 respectively in terms of which exporters have been permitted to retain export commission differential up to 5% of FOB value of export proceeds realized, in their foreign currency accounts in Pakistan for export promotional publicity etc. in cases where the exporters do not pay commission to the buyers/agents abroad or where the quantum of commission payment is less than 5%.
http://www.sbp.org.pk/epd/1992/c58.htm

Exchange Rates
Effective 15th December, 1993 the State Bank of Pakistan will undertake purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates.
http://www.sbp.org.pk/epd/1993/C79_151293.htm

Restrictions on travel during Hajj season
Attention is invited to F.E. Circular No.37 dated the 8th April, 1992 on the Subject noted above.
http://www.sbp.org.pk/epd/1992/c42.htm

Realisation of cost of goods exported from Pakistan
As authorized Dealers are aware, the value of goods exported from Pakistan is required to be realized from the overseas buyers in foreign exchange to be remitted to Pakistan through normal banking channel.
http://www.sbp.org.pk/epd/1992/c74.htm

Loss/Damages to Pakistan Nationals working in Kuwait due to Iraqi invasion
Please refer to F.E. Circular No.105 dated the 6th July, 1991 on the above noted subject.
http://www.sbp.org.pk/epd/1992/c75.htm

RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT
RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
http://www.sbp.org.pk/edmd/2003/EDMD12.htm

CASH RESERVE REQUIREMENT FOR DEPOSITS
CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998.
http://www.sbp.org.pk/edmd/2002/EDMD10.htm

Code List upon dismemberment of the Union of Soviet Socialist Republics (USSR)
Attention of Authorized Dealers is invited to F.E. Circular No.52 dated the 27th June, 1984 regarding revision in the code lists including the code list No.3 pertaining to Country/Territory and Organization.
http://www.sbp.org.pk/epd/1992/c70.htm

Amendment in Pakistan Investment Bonds Rules, 2000
Amendment in Pakistan Investment Bonds Rules, 2000
http://66.201.122.6/edmd/2003/EDMD17.htm

Amendment in Special US Dollar Bonds Rules 1998
Encashment of special US Dollar Bonds.
http://66.201.122.6/edmd/2003/EDMD16.htm

RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998.
RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998.
http://66.201.122.6/edmd/2003/EDMD15.htm



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