The Presidents/Chief Executive Officers

All Islamic Banks/Islamic Banking Branches/Conventional Banks having Islamic Branches

Dear Sirs/Madams,

Statutory Liquidity Requirement

Please refer to DMMD Circular no. 05 dated March 08, 2018 on the above subject and DMMD Circular No. 17 dated October 15, 2014 related to SBP Bai-Muajjal transactions.

In terms of Government of Pakistan’s Notification No. S.R.O. 30 (I)/2019 dated January 09, 2019 (Annexure-A) the obligations of State Bank of Pakistan arising from Bai-Muajjal transaction shall be approved security for the purpose of sub-section (1) of Section 29 of the Banking Companies Ordinance, 1962.
All other instructions on the subject shall remain unchanged.