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921228

STATE BANK OF PAKISTAN NBFIs REGULATION &SUPERVISION DEPARTMENT CENTRAL DETECTORATE

Nbfis Circular No: 11
28^th December, 1992.

Chief Executives of DFIs, Investment Banks, Leasing Companies, Modarabas, Housing Finance Companies & Discount Housing.

Please refer to rule No: 10 (ii ) of NBFIs Circular No. 1 as modified by NBFIs Circular No. 9 dated the 11^th November, 1992 . The following sub-rule 10 (ii) 2A has been added after sub rule 10(ii)2 and shall be deemed to have come into force with effect from November 11, 1992.

"10 (ii) 2A:

No NBFIs shall hold shares in any company whether as pledge, mortgagee or absolute owner, of an amount exceeding thirty per cent of the paid-up share capital of that company or thirty per cent of its own paid-up share capital and reserves whichever is less."

Please acknowledge receipt.

Yours faithfully,
(MUHAMMAD KALEEM)
SENIOR DEPUTY DERECTOR

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