BSD Circular No. 11 of 2003

In exercise of the powers conferred under Khushhali Bank Ordinance 2000 and Microfinance Institutions Ordinance, 2001, the State Bank of Pakistan is pleased to prescribe Forms of Financial Statements viz. the Balance Sheet, Profit & Loss Account, Statement of changes in Equity and Cash Flow Statement and notes thereof, for Microfinance Institutions/Banks with the objective to ensure adequate disclosure, standardization and comparability of their financial and operating results. The Microfinance Banks including Khushhali Bank shall prepare their annual financial statements on the prescribed forms with effect from 31st December 2003.

Please acknowledge receipt.

Encl: Forms of Financial Statements for MFIs/MFBs.

Annexure

FORMS OF FINANCIAL STATEMENTS FOR MICROFINANCE INSTITUTIONS / BANKS

MICROFINANCE BANK/INSTITUTION

BALANCE SHEET AS AT__________

		(Current Year) (Prior Year)
		Rupees in '000
ASSETS	NOTES
Cash and Balances with SBP and NBP	6
Balances With Other Banks/NBFIs/MFBs	7
Lending to financial Institutions	8
Investments - Net Of Provisions	9
Advances - Net Of Provisions	10
Operating Fixed Assets	11
Other Assets	12
Deferred Tax Asset	13
Total Assets
LIABILITIES
Deposits and other accounts	14
Borrowings	15
Subordinated Debt	16
Other Liabilities	17
Deferred Tax Liabilities	18
Total Liabilities
Net Assets
REPRESENTED BY
Share Capital	19
Statutory & General Reserves
Unappropriated Profit
Surplus/(Deficit) on Revaluation of Assets	20
Deferred Grants	21
Total Capital (Sub-Total:I+II)
MEMORANDUM / OFF-BALANCE SHEET ITEMS:	22
The annexed notes form an integral part of this Report.
President/Chief Executive Chairman Director			Director

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED

	Note	(CURRENT YEAR) (PRIOR YEAR)
		Rupees in '000
Mark-up/Return/Interest Earned	23
Mark-up/Return/Interest Expensed	24
Net Mark-up/ Interest Income
Provision against non-performing loans and advances	10.1
Provision for diminution in the value of investments	9.1
Bad debts written off directly	10.3
Net Mark-up/ Interest Income after provisions
NON MARK-UP/ NON INTEREST INCOME
Fee, Commission and Brokerage Income
Dividend Income
Other Income
Total non-markup/non interest Income
NON MARK-UP/ NON INTEREST EXPENSES
Administrative expenses	25
Other provisions/write offs (to be specified)
Other charges	26
Total non-markup/non interest expenses
Extra ordinary/unusual items (to be specified)
PROFIT/(LOSS) BEFORE TAXATION
Taxation - Current	27
- Prior years
- Deferred
PROFIT/(LOSS) AFTER TAXATION
Unappropriated Profit /(Loss) brought forward
Profit available for appropriation / (loss)
APPROPRIATIONS:
Transfer To:
Statutory Reserve
Capital Reserve
Contribution to MSDF/ DPF/RMF
Revenue Reserve
Proposed Cash dividend Rs. per share (Prior year
Rs. per share)
Others (to be specified)
Unappropriated Profit/(Loss) carried forward
Earnings/(Loss) per share
The annexed notes form an integral part of these accounts.

President/Chief Executive Chairman Director Director

STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED

Share Capital Capital Reserve *			Statutory Reserve	Revenue Unappropriated Total Reserve* profit/(loss)
Rupees in '000
Opening Balance (Prior year)	xxxxxxxx	xxxxxxxx	xxxxxxxx	xxxxxxx	xxxxxxxx	xxxxxxxx
Profit for the Prior year	xxxxxxxx	xxxxxxxx	xxxxxxxx	xxxxxxxx	xxxxxxxx	xxxxxxxx
Transfer to Statutory reserve	xxxxxxxx	xxxxxxxx	xxxxxxxx	xxxxxxxx	xxxxxxxx	xxxxxxxx
Other appropriations *	xxxxxxxx	xxxxxxxx	xxxxxxxx	xxxxxxxx	xxxxxxxx	xxxxxxxx
Issue of share capital	xxxxxxxx	xxxxxxxx