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STATE BANK OF PAKISTAN
EDMD
Circular No. 16
October
7, 2002
All scheduled
Banks/NBFIs
Dear
Sirs,
Amendment in Special US Dollar Bonds Rules, 1998
Please refer to EDMD Circular No. 04 dated 11th August 2001
enclosing therewith Government Notification No. S.R.O. (I)/2001 dated 11th
August 2001 in terms of which following sub rule (3) to Rule 10 of Special
US Dollar Bonds Rules, 1998 was added:
“Rule
10(3) Face value of
bonds of three years’ maturity may be reinvested for further a
period of three years or seven years starting from the date of
redemption at a profit of six months’ LIBOR on the day preceding
the date of payment plus two percent.”
The Government of Pakistan vide their notification No. S.R.O.
(I)/2002 dated 16th September 2002 (photocopy enclosed) have
omitted the above cited sub-rule (3) of Rule 10.
Encl:(01)
Yours
faithfully
(MUHAMMAD
SHAKIR)
Director
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