State Bank invites suggestions for revised Prudential Rules

KARACHI (April 15 2003) : The State Bank on Monday said that it has been decided to revise the existing Prudential Regulations to provide greater flexibility and authority to banks.

“Views and suggestions on these draft Prudential Regulations are invited from bankers, businessmen, academics, accountants and members of the general public,” said a circular issued by the State Bank on Monday.

It is hoped that the stakeholders, by identifying the major weaknesses as well as key concerns relating to these draft regulations, will make a direct impact on the future direction of banking sector in Pakistan, said the circular.

The views and suggestion of the interested quarters on the draft Prudential Regulations can be sent through mail, fax and e-mail by April 30, 2003, which has been set as the deadline for the suggestions.

“The new set of Prudential Regulations will be finalised by the State Bank of Pakistan, with the co-operation of all concerned, in the shortest period of time,” said the circular.

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