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020627
STATE BANK OF PAKISTAN BANKING SUPERVISION DEPARTMENT KARACHI.
BSD Circular Letter
No. 8
June 27, 2002
All Banks/NBFIs
Dear Sirs,
PRUDENTIAL REGULATION – XXVIII FOREIGN CURRENCY DEPOSITS UNDER FE 25-1998
Please refer to BSD
Circular No.2 dated lst January, 2002 on the captioned subject whereby the date of
compliance of 20% cap on FE-25 deposits was extended up to 30-6-2002.
2. Although the banks have made some progress to be in compliance with 20% cap on
FE-25 deposits, some of them are still in breach of our instructions. Keeping in view the
problems faced by the banks, and in order to facilitate the banks, the matter has been
revisited and it has been decided to further extend the compliance date of 20% cap
on FE-25 deposits up to 31st December, 2002. All banks/NBFIs are advised to ensure
compliance of 20% cap on FE-25 deposits within the extended time period positively.
3. Other instructions on the subject shall, however, remain unchanged.
4. Please acknowledge receipt.
Yours faithfully,
(Shaukat Zaman)
Senior Joint Director
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