The Presidents/ Chief Executives

All Banks / DFIs

Dear Sirs / Madams,

GUIDELINES - TRANSFER AND ASSIGNMENT OF NON-PERFORMING ASSETS

TO CORPORATE RESTRUCTURING COMPANIES (CRCs)

The first Corporate Restructuring Company (CRC) in Pakistan has been licensed by the Securities and Exchange Commission of Pakistan under the Corporate Restructuring Companies Act, 2016 (the Act). It has, therefore, been deemed expedient to provide the regulatory guidance to the Banks/DFIs for transfer and assignment of their Non-Performing Assets to the CRCs.

2. The Banks/DFIs that agree to transfer and assign their NPAs to the CRCs should ensure compliance of the guidelines enclosed herewith. The words used in these guidelines, but not defined herewith, will have same meaning as assigned to them in the Act or in the other relevant laws and regulations.