931017

P.O. Box No 4456
KARACHI

NBFIs Circular No. 17
October, 1993

Chief Executives of DFIs, Investment Banks, Leasing Companies, Modarabas, Housing Finance Companies & Discount Houses

Dear Sirs,
Please refer to NBFIs Circular No. 1 dated 5^th December, 1991 as modified from time to time. The existing Rule 9 of the Rules of business for NBFIs is substituted as under:-

i) Limit of NBFIs Exposure:

1. Total exposure of a NBFIs Circular No. to a single borrowing entity or group shall not exceed 20% of its equity. In the case of listed companies exposure shall not exceed 20% of total assets of the NBFIs. For financing of power projects and locomotives also total exposure shall not exceed 20% of the total assets of the NBFIs Circular No.
2. The above amendment shall come into force with immediate effect.

Please acknowledge receipt.

Yours faithfully,

(I.A. FAROOQ)
Director