Circulars/Notifications - Banking Policy & Regulations Department  
 BPRD Circular No. 04 of 2021
November 15, 2021

The Presidents/Chief Executive Officers,
All Banks/DFIs/MFBs

Dear Sir/Madam,

Implementation of Regulatory Approval System (RAS) - Banking Policy & Regulations Department

  1. In order to further strengthen the organizational efficiency, effectiveness and turnaround time of regulatory approval process, State Bank of Pakistan (SBP) has been endeavoring to digitize the end-to-end process of various request letters/ proposals received from banks/DFIs/MFBs (hereinafter referred to as banks), their approval process and dissemination of regulatory decisions there against.

  2. In the first phase, SBP initiated the digitization process of Foreign Exchange Operations Department (FEOD) and Exchange Policy Department (EPD) which has been completed and Regulatory Approval System (RAS) for these departments is functioning smoothly and efficiently. In the similar vein, digitization of RAS for Banking Policy & Regulations Department (BPRD) has now been completed and being rolled out for industry wide implementation.

  3. Accordingly, effective after seven (07) working days from the issuance of this Circular, banks are advised to submit their request letters/ proposals pertaining to the functional domain of BPRD over the RAS portal during office hours using the following link: However, in addition to online submission, banks shall also continue with the manual submission of such requests till December 31, 2021. These manually submitted requests must bear a unique case number generated on the RAS portal, on the cover page of their request letter.

  4. With a view to ensure a standardized submission process, banks are also advised to observe the following:

    i. Submit their request letters/ proposals on the system prescribed forms along with a cover letter and requisite documents. The covering letter shall include a brief description of the underlying request, specific recommendations and be signed by at least two senior officers of Business/Group Head level.

    ii. Maintain complete record of cases processed through the RAS portal as per applicable instructions and shall present the same to SBP’s supervision teams, as and when required.

    iii. Ensure their users and administrators have thoroughly reviewed the Terms and Conditions (T&Cs) and Standard Operating Procedures (SOPs) of the RAS portal before using the system.

  5. To facilitate users, a service desk has been created wherein banks can lodge their complaints in relation to business and technical aspect of the RAS portal. The user guide to navigate through the service desk is enclosed herewith [Annexure A]. The service desk can be accessed by banks at the following link:

  6. User and Administrative Manuals [Annexure B and C], respectively, covering detailed instructions with respect to operating the RAS portal as a user and an administrator, are attached herewith. Each administrator of a bank shall be able to create maximum five (05) users, who will be able to perform the tasks as detailed in the user manual (Annexure B).

  7. The cases submitted with incomplete documents or without following the procedures prescribed in User Manual shall not be entertained and shall be returned to the respective institution. SBP will bear no responsibility, of whatsoever nature, due to discrepant submission by the banks.

  8. Periodical regulatory returns submitted by banks on SBP’s Data Acquisition Portal (DAP) or other online regulatory portals shall not be submitted on RAS.

  9. Banks are advised to bring the above instructions to the notice of all their relevant constituents and ensure meticulous compliance.

Please acknowledge receipt.


1) Annexure A - Regulatory Approval System – Service Desk User Manual
2) Annexure B - Regulatory Approval System – User Manual
3) Annexure C - Regulatory Approval System – Administrative User Manual

Yours truly,


(Muhammad Akhtar Javed)

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