The Presidents/Chief Executives
All Banks/DFIs
Dear
Sirs/Madams,
Questionnaires
for Self-Assessment-IRAF
Please
refer to the Governor’s communication dated January
10th 2004 notifying the introduction of the concept of Institutional
Risk Assessment Framework (IRAF) for ensuring proactive
monitoring of the risks the banks/DFIs are exposed to and
to further strengthen the existing supervisory mechanism
of the State Bank of Pakistan. The new framework envisages
a collaborative and seamless supervisory focus amongst the
various supervisory departments within the SBP.
The
review of banks/DFIs under IRAF shall be based on inputs
relating to four areas. These include compliance with standards,
codes & guidelines; supervisory & regulatory information;
financial performance & condition and market information
& intelligence. In this regard, SBP has prepared the
attached Questionnaires for Self-Assessment of banks/DFIs.
These questionnaires have been prepared in light of prudential
regulations & guidelines issued from time to time for
compliance by the banks/DFIs.
It
would be the responsibility of the Board of Directors to
fill out these questionnaires and submit them to Banking
Inspection Department on half yearly basis, within forty-five
days of the cut-off date, which would be June 30th and December
31st. In case of banks incorporated outside Pakistan, with
branches operating in Pakistan, the country manager would
be authorized to fill out the forms and submit the same.
The first duly filled in questionnaire as of 30th June 2004
should be submitted by 31st August.
Please
acknowledge receipt.
Encl:
Annexure-I, Annexure-II,
Annexure-III, Annexure-IV,
Annexure-V, Annexure-VI,
Annexure-VII