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REGULATION-XVII
ASSUMING OBLIGATIONS ON BEHALF OF NBFIs
Banks are directed not to issue any
guarantee or letter of comfort not assume any obligation whatsoever in respect of
deposits, sale of investment certificates, issue of commercial papers, or borrowings of
any non-bank financial institutions. In other words, banks shall not assume any obligation
on behalf of any financial institutions including investment banks, leasing companies,
modarabas and development finance institutions, etc. in respect of any resources mobilised
by them.
