EDMD Circular No.9 of 2002

For business information, annual reports, laws, ordinances, regulations and articles.

020615

STATE BANK OF PAKISTAN

EDMD Circular No. 9
June 15, 2002

All Scheduled Banks / NBFIs
Dear Sirs,

Amendment in Special US Dollar Bonds Rules 1998

Please refer to EDMD Circular No. 03 dated 22^nd March 2002 on the captioned subject whereby Rupee Redemption Bonus of 5 % on maturity of three years Special US Dollar Bonds for encashment in Pak Rupees was withdrawn.

In this regard, for facilitating the general public, the following clarifications are being made, in consultation with the Finance Ministry:-

1. SUSDBs (3 yrs maturity) that matured during the period from 11^th August 2001 to 22^nd March 2002, and redeemed in Pak Rupees, are entitled to Rupee Redemption Bonus of 5%, irrespective of the date on which they are presented for encashment.

2. SUSDBs (3 yrs maturity) sold during the period from 11^th August 2001 to 22^nd March 2002 would be entitled to Rupee Redemption Bonus of 5%, on maturity. This would mean that the holders of SUSDB’s of three years maturity sold during the period form 11^th August 2001 to 22^nd March 2002, and redeemed in Pak Rupees on maturity, would be entitled for Rupee Redemption Bonus of 5% on maturity i.e. during the period 11^th August 2004 to 22^nd March 2005 (only if redemption is made in Pak rupees on maturity).

Yours faithfully

(MUHAMMAD SHAKIR)
Director

Home | About Us | Contact | Information Resources