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NBFIs Circular No. 21
20^th January 1994

All NBFIs,
Dear Sirs,

ISSUANCE OF BEARER/REGISTERED INSTRUMENTS DIRECTIVES UNDER SECTION 41 OF THE BANKING COMPANIES ORDINANCE, 1962

Please refer to BCD Circular letter No. BCD(NBFIs Circular No.) 14/682-90 dated the 17^th November, 1990 and BRD Circular No. 1 dated 9^th January, 1993 in terms of which the financial institutions inclusive of NBFIs were required to discontinue issuance of fresh Brearer Certificates of Investment/Deposits after 9-11993 and phase out the existing portfolio of above securities by December 31, 193. It was also advised to furnish statements showing the data in respect of outstanding liabilities of bearer and registered instruments giving a schedule of retirement thereof.

You are advised to confirm whether the schedule previously provided by you has been fully adhered to. The position of outstanding amount, if any, of bearer certificates of Investment/Deposits as on December 31, 1993 may be furnished to us in the attached proforma latest by January 27, 1994 positively.

Please acknowledge the receipt.

Yours faithfully,
(MANSUR-UR-REHMAN KHAN)
Sr. Deputy Director

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