Please refer to instructions issued by State Bank of Pakistan from time to time on the above subject.

2. In order to overcome the problems relating to collection, sorting and replacement of soiled notes and to provide better services to general public, the subject matter has been revisited and it has been decided to introduce a self assessment compliance program with regard to Clean Note Policy (CNP) by the commercial banks.

3. In this regard, Chief Compliance Officers of the banks shall issue a certificate on standard format with regard to implementation of Clean Note Policy by their banks in letter and spirit. The banks shall submit this compliance certificate annually within fifteen (15) days from the commencement of each calendar year, to the Director, Currency Management Department, State Bank of Pakistan, Banking Services Corporation, Head Office, Karachi. The compliance certificate for the calendar year ended 2009 should reach at the given address latest by January 15, 2010.

4. A specimen of a requisite compliance certificate to be signed by the Chief Compliance Officers of banks is attached.

Please acknowledge receipt.

Encls: As above.