Please refer to BPD Circular letter No.06 dated 22nd February,
2006 regarding the above subject.
2.
It has now been decided that banks incorporated in Pakistan
having foreign participation/equity can hold board meetings
abroad in following manner in a calendar year.
i. |
Banks having more than 51% foreign shareholding. |
- |
Maximum
of 4 Board meetings. |
ii.
|
Banks
having more than 40% but less than 51% foreign shareholding.
|
- |
3
Board meetings. |
iii.
|
Banks
having more than 30% but less than 41% foreign shareholding.
|
- |
1
Board meeting. |
iv. |
iv.
Less than 30 % foreign shareholding. |
- |
NIL |
3. The bank concerned will, however, only inform SBP in
writing as and when they hold meeting abroad. This supersedes
BPD Circular letter No.06 dated 22nd February, 2006.
4.
Please acknowledge receipt.