As
you are aware the drafts of the Inspection Reports on the affairs
of Banks/NBFIs prepared by the inspection teams of our Banking
Inspection Department are invariably discussed with management
of the bank / NBFI, before their finalization. It is regretted
to note that the discussions by the management of the institution
concerned with the inspection team are not held promptly on
the stipulated date on one pretext or other, thus delaying the
finalization of the inspection report inordinately. It has now
been decided that henceforth the management of the banks/NBFIs
shall be under obligation to discuss the draft of the inspection
report with the inspection team within 30 days from the receipt
of the draft report
Banks/NBFIs
are advised to ensure strict compliance of above instructions
failure to which shall attract penal actions under Banking
Companies Ordinance, 1962.
Please
acknowledge receipt.
|