In
terms of powers conferred under Section 14(3) of the Banking
Companies Ordinance,1962, it has been decided that every
Chairman, Managing Director or Chief Executive Officer
(by whatever name called) of a banking company shall furnish
to the State Bank of Pakistan through the banking company
returns on yearly basis containing full particulars of
the extent and value of his holding of shares, whether
directly or indirectly, in the banking company and of
any change in the extent of such holding or any variation
in the rights attaching thereto as per attached Annexure-I
within 15 days of the close of each calendar year.
The
first such return shall be furnished containing details
of shareholding as on December 31, 2009 within 15 days
of issue of this Circular.
Misreporting or delay in submission of information shall
attract penal action under the provisions of Banking Companies
Ordinance, 1962.
Please acknowledge receipt.
Encl: Annexure-I