950130
STATE BANK OF PAKISTAN NBFIs REGULATIONS AND SUPERVISION DEPARTMENT CENTRAL DIRECTOTATE KARACHI
NBFIs Circular No. 1
30th January, 1995
Chief Executives of All NBFIs
Dear Sirs,
NBFIs RULES – GRANT OF RELAXATION
In view of the difficult circumstances faced by the trade & industry during the years 1992-93 and 1993-94, it has been decided to allow NBFIs to provide financial accommodation to the constituents even if they have failed to comply with the NBFIs Rules provided they did not default in meeting their financial obligations to Banks/NBFIs as on 1-1-1992. The relaxation is applicable to disbursement during the year 1994-95 only, during which time the NBFIs their constituents should resolve their problems through restructuring/rescheduling/settlement. The NBFIs would paid to get a clearance from NBP, HBL, UBL, MCB, ABL, NDFC, PEL, & IDBP that the party which is being exempted from an application of NBFIs Rules in 1994-95 did not default upto 1-1-1992.
Please acknowledge receipt.
Yours faithfully
(MANSUR-UR-REHMAN ZAIDI)
Director
