Effective immediately, all postings and transfers to and from overseas branches of Pakistan Commercial Banks shall be made on the basis of a clearly defined criteria to be developed by their respective Boards of Directors.

2. Banks are, accordingly, directed to develop a clearly defined policy of foreign postings and transfers within a period of 30 days. The policy may be referred to the State Bank for clearance and its enforcement be strictly ensured.

3. Deviations/violations of the defined policy will render the concerned officials liable to action under the provisions of Banking Companies Ordinance, 1962.

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