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Dear
Sirs,
RATE OF REMUNERATION ON
15% SPECIAL CASH RESERVE ACCOUNT (US $)
Please refer to our Circular letter No. 2 dated 31st December 2001 on the captioned subject.
It has been decided that from the month of DECEMBER 2004, the rate of remuneration on the 15% Special Cash Reserve Account (US $) maintained with State Bank of Pakistan would be US Dollar LIBOR for one month (as announced by British Bankers Association on Reuters page LIBOR01) on the last working day of the previous month less 1% service charges.
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