All Head of Commercial Banks/DFIs

Dear Sirs/Madam,

3-DAY REPO FACILITY

Please refer to FSCD Circular No 13 dated July 06, 2007 in terms of which SBP 3-Day Repo Facility was restricted to the Schedule Banks and any Non-Bank working as Primary Dealer (PD).

It has been further reviewed and decided to allow SBP 3-Day Repo facility to the Development Financial Institutions (DFIs) on the same terms and conditions as of the Schedule Banks and any Non-Bank working as PD.

The above instructions would come into effect from Saturday, February 23, 2008.

Please acknowledge receipt.