The Presidents/Chief Executive Officers

All Banks

Dear Sirs/Madams,

Statutory Reserve Requirements-Cash Reserve and Statutory Liquidity Requirement

Please refer to DMMD Circular no. 04 and DMMD Circular no. 05 dated March 08, 2018 regarding Statutory Cash Reserve Requirement and Statutory Liquidity Requirement respectively.

It has been decided that ‘Borrowings from Pakistan Mortgage Refinance Company Limited’ will be exempted from maintenance of Cash Reserve Requirement and Statutory Liquidity Requirement.

All other instructions on the subject will remain unchanged.