State Bank of Pakistan (SBP) is in the process of implementing Risk Based Supervisory (RBS) Framework for its Regulated Entities (REs) with effect from July 01, 2021. In order to achieve the core objectives of ‘Risk Based Supervision Framework’, the supervisory functions of Banking Inspection Department-I (BID-I), Banking Inspection Department-II (BID-II) and Off-Site Supervision & Enforcement Department (OSED) have been realigned.
Accordingly, three supervisory departments (Banking Supervision Department-1 (BSD-1), Banking Supervision Department -2 (BSD-2), and Banking Supervision Department-3 (BSD-3)), will be created from July 1, 2021. Each BSD will perform the functions of on-site inspection, off-site supervision and enforcement of the assigned institutions. The existing BID-I, BID-II and OSED shall cease to exist from July 01, 2021. The list of institutions allocated to BSD - 1, BSD - 2 and BSD - 3 are enclosed.
The Directors will assume the charge of their respective Banking Supervision Departments with effect from July 01, 2021. Their specimen signatures are appended below:
- Syed Jahangir Shah
|
Director, BSD - 1 |
_________Sd/-__________
|
- Mr. Fazal Mahmood
|
Director, BSD -2 |
_________Sd/-__________ |
- Mr. Shaukat Ali
|
Director, BSD - 3 |
_________Sd/-__________ |
Further, instructions conveyed to banks/DFIs/MFBs/ECs through following circulars stand superseded.
- BID-I Circular No.01 of 2018 dated September 18, 2018
- OSED Circular No.01 of 2018 dated March 09, 2018
- BID-II Circular No. 01 of 2018 dated January 17, 2018
- BID-I Circular No. 01 of 2014 dated June 19, 2014
Please acknowledge receipt.
Encl: List of Institutions allocated to BSD-1, 2 and 3