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050104
STATE BANK OF PAKISTAN - BANKING POLICY DEPARTMENT
BPD Circular Letter No. 01
January 04, 2005
The Presidents/ CEOs,
All Banks.
Dear Sirs/Madam,
CLARIFICATION - RENEWAL FEE FOR BANKING/BRANCH(ES) LICENCES ISSUED UNDER SECTIONS 27 & 28 OF BCO 1962
Please refer to BPD Circular No. 31 dated October 5, 2004 and BPD Circular No. 34 dated November 2, 2004 on the captioned subject.
2. The matter has been reconsidered and it has been decided to amend Para 4 of the BPD Circular No. 31 dated October 5, 2004 as under:-
“It has further been decided that, henceforth, every bank which has a branch network of more than 100 branches shall open at least 20% of the branches, planned to be opened under its annual branch expansion plan, outside the jurisdiction of big cities and Tehsil Headquarters. The jurisdiction for opening of 20% of the branches will also include those Tehsil Headquarters where no branch of any bank exists. The banks are advised to keep this in view while submitting their annual branch expansion plans to SBP..”
3. This Circular Letter supersedes the instructions issued vide BPD Circular No. 34 of 2004..
4. Please acknowledge receipt.
Yours faithfully,
Sd/-
(Muhammad Kamran Shehzad)
Joint Director
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