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040129
STATE BANK OF PAKISTAN - BAKING POLICY DEPARTMENT
BPD Circular No. 2
January 29, 2004
The Chief Executives/Country Heads
All Banks & DFIs.
Dear Sirs/ Madam,
SECTION 33-A FIDELITY &
SECRECY-
THE BANKING COMPANIES ORDINANCE, 1962
The Section 33-A of the Banking Companies
Ordinance, 1962, interalia, requires that every President, Chairman & members of
the Board of the banks/DFIs make a declaration of Fidelity and Secrecy. However,
it has been observed that only few banks/DFIs are complying with the
requirements laid down in Section 33-A of BCO, 1962. Even those complying with
the requirements vary in contents of the declaration.
2. In order to create uniformity in obtaining declaration under the said
Section, it has been decided that, from now onwards, President and Chairman &
members of the Board of all banks/DFIs will sign a declaration as per enclosed
format before assuming the office. In case of foreign banks, who are represented
in Pakistan by their branch offices only, the enclosed format will be signed by
the Country Managers. The declaration may please be kept in safe custody with
the banks/DFIs.
3. The declaration as per enclosed format for existing President, Country
Managers (in case of foreign banks’ branches), Chairman and members of Board may
please be obtained immediately and placed on record. Please confirm compliance
of the foregoing within 90 days from the date of issue of this circular.
4. Please acknowledge receipt.
Encl: As Above.
Yours faithfully,
(MUHAMMAD KAMRAN SHEHZAD)
DIRECTOR
DECLARATION OF FIDELITY AND SECRECY
I, (insert name) on becoming [President/ Chairman of the Board/ Director on the Board/Country Manager (in case of foreign banks’ branches)] of the (insert name of bank/DFI) in terms of Section 33-A of the Banking Companies Ordinance, 1962 do hereby solemnly & sincerely confirm/declare that I shall observe strict fidelity, secrecy and usage customary among bankers and all matters relating thereto and in particular shall not divulge or communicate any information relating to the affairs of its customers, which may come to my knowledge in discharging my duties directly or indirectly, except in circumstances in which it is in accordance with law, practice and usage customary among bankers.
Dated: _____________________
Signature: _____________________
Designation: _____________________
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