The
Presidents / Chief Executives
All Banks / DFIs
Dear
Sirs / Madam,
AUTO
LOANS
It
has been decided with immediate effect that for Auto Loans,
Banks/DFIs shall not report overdue/default of those borrowers/lessees
to Credit Information Bureau (CIB) of State Bank of Pakistan,
whose vehicle financed/leased by them has been stolen or
snatched, provided the respective Bank/DFI is fully secured
to recover the entire outstanding amount from an insurance
company under a valid insurance policy.
2.
Please acknowledge receipt.