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030906
STATE BANK OF PAKISTAN BANKING SUPERVISION DEPARTMENT
BSD Circular No.08
September 06, 2003
The Presidents/Chief Executives
All Banks/DFIs/NBFCs
Dear Sirs/Madam,
CIB Data
Please refer to BSD Circular No.4 dated 25th
February, 2003 on the captioned subject, in terms of which banks/DFIs/NBFCs
were advised, interalia, to submit CIB data of borrowers of Rs.0.5 million and
above through online system within 15 days from the close of each calendar
month.
2) With the introduction of online facility for submission of CIB data and in
order to provide latest CIB position to banks/DFIs/NBFCs, it has been decided
to reduce the time lag between the data reporting date and uploading of data
on CIB server for generating CIB reports. Accordingly, banks/DFIs/NBFCs are
advised to submit the CIB data of their borrowers of Rs.0.5 million & above
through online system by 10th of each month following the month to which CIB
data relates to. The revised timeline shall be applicable for submission of
CIB data for the month ending 30th September, 2003, which shall be submitted
on or before 10th October, 2003. The banks/DFIs/NBFCs are also advised to
ensure accurate reporting of data to the CIB.
3) It has been observed that banks/DFIs/NBFCs do not intimate the subsequent
repayment/settlement of overdues/defaults to the CIB which causes
inconvenience to the borrowers and also adversely affects their reputation. It
has, therefore, been decided that the banks/DFIs/NBFCs shall invariably report
in writing to CIB the subsequent clearance of overdues/defaults within three
working days from the date of such repayment/settlement.
4) Furthermore, in order to facilitate borrowers and to provide latest
position of their indebtedness in the CIB report it has been decided to
reflect the detail of re-payment/settlement of overdues/defaults made
subsequent to the reporting date in the CIB report by way of following notes
in the remarks column of the CIB report on the basis of a written letter from
the concerned bank/DFI/NBFC confirming that the overdues/defaults amount has
been cleared by the borrower on a specific date:
“The concerned bank/DFI/NBFC has subsequently reported clearance of overdues/defaults
of Rs. …… on …… (date).”
5) In order to make the above arrangements effective, banks/DFIs/NBFCs are
advised to ensure confirmation within three working days, of the borrower’s
repayment status on receipt of a query from the State Bank and subsequently
ensure reporting of the updated and accurate data in the relevant month’s CIB
data to SBP so that borrowers are not adversely impacted by the mis-reporting
of data. Any mis-reporting shall attract penal action under the relevant
provisions of the Banking Companies Ordinance, 1962.
6) Other instructions on the subject shall, however, remain unchanged.
Please acknowledge receipt.
Yours faithfully,
(JAMEEL AHMAD)
Director