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STATE BANK OF PAKISTAN CENTRAL DIRECTORATE BANKING SUPERVISION DEPARTMENT
BSD Circular No. 31
22nd August, 2001
INSPECTION OF BANKS/NBFI-ADHERENCE TO TIME SCHEDULE
As you are aware the drafts of the Inspection Reports on the
affairs of Banks/NBFIs prepared by the inspection teams of our Banking Inspection
Department are invariably discussed with management of the bank/NBFI, before their
finalization. It is regretted to note that the discussions by the management of the
institution concerned with the inspection team are not held promptly on the stipulated
date on one pretex or other, thus delaying the finalization of the inspection report
inordinately. It has now been decided that henceforth the management of the banks/NBFIs
shall be under obligation to discuss the draft of the inspection report with the
inspection team within 30 days from the receipt of the draft report.
Banks/NBFIs are advised to ensure strict compliance of above instructions failure to which shall attract penal actions under Banking Companies Ordinance, 1962.
Please acknowledgment receipt.
(KAZI ABDUL MUKTADIR)
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