refer to the BSD Circular No. 01 of 2008 dated January
01, 2008 and BSD Circular No. 08 of 2006 dated June 27,
2006 regarding implementation of Basel II in Pakistan.
In terms of the issued directives, all banks/DFIs are
required to submit to State Bank of Pakistan, Banking
Surveillance Department, an action plan latest by April
30, 2008 spelling out the activities and the expected
timelines to develop systems for meeting the requirements
for advanced approaches as laid down in BSD Circular No.
8 dated June 27, 2006.
On the representation of PBA, it has been decided to extend
the date for submission of the Action Plan till July 31,
2008. However, banks/DFIs are required to ensure that
the plans thus submitted are realistic and reasonable
from the perspective of their own capacity and regulatory
All other instructions on the subject shall remain unchanged.