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 030317

STATE BANK OF PAKISTAN BANKING SUPERVISION DEPARTMENT KARACHI

BSD Circular Letter No.3
March 17, 2003

All Banks/DFIs

Dear Sirs/Madam,

PBA PANEL OF VALUERS

In terms of Prudential Regulation VIII, the valuation of the realizable value of the mortgaged/pledged assets is required to be done by independent valuers listed on Pakistan Banks Association (PBA)’s Panel of Valuers. The banks have been inquiring whether valuation of their other assets is also required to be done by the valuers listed on the panel of PBA.

The banks/DFIs are advised that all valuations/revaluations of their assets e.g. their fixed assets shall be carried out through any of the valuers listed on the PBA’s approved Panel of Valuers.

All other instructions on the subject shall, however, remain unchanged.

Please acknowledge receipt.

Yours faithfully,

(Jameel Ahmad)
Director