Please
find enclosed a copy of SECP’s Notification No.SRO.150(1)/2009
dated the 13th February, 2009 relating to accounting
treatment of impairment losses.
2) Banks / DFIs may, if they so desire, adopt the aforesaid
Notification of SECP for treatment of impairment loss
recognized as on 31-12-2008 on valuation of listed equity
investment held in Available for Sale (AFS) Category.
This will be subject to the full disclosure and restriction
on dividend as required vide Para 3 and Para 1-(iii)
of the said Notification. However, early recognition
of full impairment loss by Banks / DFIs is encouraged.
3) All other instructions on the subject issued by State
Bank of Pakistan from time to time shall remain unchanged.
Please acknowledge receipt
Encl:
As Above