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950426

STATE BANK OF PAKISTAN BANKING POLICY & REGULATIONS DEPARTMENT CENTRAL DIRECTORATE KARACHI

BPRD Circular No. 9
26^th April, 1995

All Banks,

Dear Sirs,

LIST OF APPROVED FIRMS OF CHARTERED ACCOUNTANTS FOR THE PURPOSE OF REVALUATION OF ASSETS

Please refer to annexure to BCD Circular No. 15 dated 29^th August, 1992. In terms of regulation IV(3) subordinated loans are counted as equity for the purpose of the said Regulation.

It has now been decided that Revaluation Reserves determined by approved firms of Chartered Accountants in accordance with International Accounting Standards would also count as equity for the purpose of the above referred regulations. The Revaluation Reserves so determined are required to be reflected in the balance sheets of the borrowers which, are required to be duly audited by the approved firms. Name and addresses of the firms approved for the purpose are given hereunder:-

S,No.	Name of the Firm & Address
1.	M/s. A.F. Ferguson & Co., State life Building No. 1-C, Off. I.I. Chundrigar Road, P.O. Box No. 4716, Karachi
2.	Ford, Rhodes, Robson, Morrow P.O. ox No. 4719, Ist floor, Finlay House, I.I. Chundrigar Road, Karachi
3.	Khalid Majid hussain Shah Rahman, Ist Floor, Modern Motors House, Beaumont Road, P.O. Box No. 4335, Karachi-75530

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