STATE BANK OF PAKISTAN

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

951218

STATE BANK OF PAKISTAN NBFIs REGULATION AND SUPERVISION DEPARTMENT CENTRAL DIRECTORATE KARACHI

NBFIs Circular No. 13
18^th December, 1995

All NBFIs

Dear Sirs,
Please refer to NBFIs Circular No. 1 and No. 9 dated Dec 5, 1991 and Nov 11, 1992, respectively.

Rule13(iv) for Non Banks Financial Institutions has been reviewed and substituted as under:

Restrictions on Certain Types of Transactions:
13(iv) Non Banks Financial Institutions shall not without the prior approval in writing of the State Bank of Pakistan enter into leasing, renting and sale/purchase of any kind with their directors or persons who either individually or in convert with family members beneficially own 10 percent or more of the equity of the NBFIs.

This regulation will come into force with immediate effect.

Please acknowledge receipt.

Yours truly,

(SYED SHAHZAD SAFDAR ZAIDI)
A.C.A.
Joint Director

Home | About Us | Contact | Information Resources