Heads
of Islamic Banking Divisions,
Dear
Sir / Madam,
Revision
of Capital Adequacy Requirement (CAR) For IBBs
Please
refer to clause 7 of Annexure-III of IBD Circular No. 2 of
2004 (read with BPRD Circular No.1 of 2003), regarding Capital
Adequacy Ratio (CAR) requirement for Islamic Banking Divisions
/ Branches of conventional Banks. It has been decided to revise
clause 7(i) of IBD Circular No. 2 (Annexure-III) of 2004 immediately
as under:-
Clause 7(i):
Islamic
Banking Fund / CAR
All conventional Banks having Islamic Banking License for
IBBs should maintain a minimum Islamic Banking Fund of Rs
50 million, at any point of time as seed capital and should
also maintain Capital Adequacy Ratio (CAR), as applicable
on Bank-wide basis, prescribed by SBP from time to time.
All
other instructions contained in the said Circular shall remain
the same.
Please acknowledge receipt. |