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Banks advised to settle write-off cases by end-August

KARACHI (August 05 2003) : State Bank of Pakistan Monday directed all the banks and Development Finance Institutions (DFIs) to settle/decide all cases received for settlement under SBP Guidelines on write-off of irrecoverable loans and advances by end-August, 2003.

The SBP, in its BPD/PU-34/9788/SBP-Scheme/2003 circular, addressed to Presidents and Chief Executive Officers of all banks and DFIs drew their attention to its BPD circular Letter No 23 issued on July 4, 2003, and reminded to ensure the settlement of all cases/ applications under SBP Guidelines by the target date positively.

The Central Bank also directed them to pass on the requisite instructions to their concerned departments, officers for meticulous compliance.

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