Please
refer to BSD circular No. 26 dated October 17, 2008.
2) In terms of Government of
Pakistan’s notification dated March 05, 2008,
Sukuks issued by National Industrial Parks Management
and Development Company have been notified as approved
security for the purpose of Statutory Liquidity Requirement
(SLR) under subsection (1) of Section 29 of the Banking
Companies Ordinance 1962, only to the extent of 5% of
their Demand and Time Liabilities for all Islamic Banks
and Islamic Banking Branches. Furthermore, these Sukuks
have also been notified as approved security for the
purpose of subsection (2) of Section 13 of the subject
Ordinance.
3) All other instructions on
the subject shall remain unchanged.
Please acknowledge receipt.