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950727

STATE BANK OF PAKISTAN NBFIs REGULATIONS AND SUPERVISION DEPARTMENT CENTRAL DIRECTOTATE KARACHI

NBFIs Circular No. 10
July 27, 1995

Chief Executives

All NBFIs

Dear Sir,
Please refer to Rule 6 of NBFIs Circular No. 1 dated 5^th December, 1991 as modified from time to time.

2. It has been decided that in addition to investment in Government Securities (where applicable) financial Institutions may also invest in Registered NIT Units or shares of listed companies for the purpose of maintaining 15% liquidity under Rule 6 subject to conditions that at any given time the amount invested in the shares of any one company shall not exceed the value of one minimum marketable lot as recognized in Stock Exchange or 1% of the liabilities, as defined in Rule 6 of NBFIs Rule, whichever is higher.

3. It has further been decided to treat deposits form financial institutions at par with borrowings from financial institutions for the purpose of Rule 6 of NBFIs Rule releasing to the maintenance of liquidity.

4. All other instructions on the subject shall remain unchanged.

5. The above amendment shall come into force with immediate effect.

6. Please acknowledge receipt.

Yours Faithfully,

(SHOAIB )
Joint Director

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