In
view of an increasing use of outsourcing of a number of
services by banks and potential impact of associated risks
on their overall strategic goals, operations, profitability
and obligations to customers and regulators, State Bank
of Pakistan has decided to issue the enclosed guidelines
on outsourcing arrangements. These guidelines will be
applicable on all Banks (including Islamic Banks), Development
Finance Institutions and Microfinance Banks.
2.
The guidelines are in addition to, and not, in derogation
of any other related regulations/rules/laws. The State
Bank of Pakistan during the course of inspection will
check compliance with the guidelines.
Please acknowledge receipt.
Encl:
Guidelines on Outsourcing Arrangements