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041102
STATE BANK OF PAKISTAN - BANKING POLICY DEPARTMENT
BPD Circular No. 34 of 2004
November 02, 2004
The Chief Executives,
All Banks
Dear Sirs/Madam,
RENEWAL FEE FOR BANKING/BRANCH(ES)
LICENCES ISSUED UNDER SECTIONS 27 & 28 OF BANKING COMPANIES ORDINANCE, 1962
Please refer to BPD Circular No. 31 dated the 5th
October, 2004 on the captioned subject.
Para 4 of the aforesaid circular has been amended as under:-
“Every bank which has a branch network of more than 100 branches shall open at
least 20% of the branches, planned to be opened under its annual branch
expansion plan, in unbanked areas. The banks are advised to keep this in view
while submitting their annual branch expansion plan for the year 2005 and
onwards. In other words the condition of opening 20% branches in unbanked areas
shall not be applicable in case of bank having 100 or less branches.”
Yours faithfully,
Sd/-
(MUHAMMAD KAMRAN SHEHZAD)
Director
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