The State Bank of Pakistan (SBP) has instructed the financial institutions (FIs) to provide shareholding information within 15 days of the close of each calendar year.
The SBP has decided to consolidate the shareholding return instructions it issues from time to time in an effort to reduce the compliance burden on financial institutions such as banks, development financial institutions (DFIs), and microfinance banks (MFBs). Accordingly, within 15 days of the close of each calendar year, banks, DFIs, and MFBs must now provide their shareholding information in the described format.
Additionally, within 15 days of the close of each calendar year, all locally incorporated banks will continue to provide information about the shareholding of the chairman, managing director, or chief executive officer, by whatever name called, in accordance with the format provided by the SBP.
Similarly, all local banks and DFIs must annually submit returns and information regarding the direct or indirect shareholdings of the Chairman, President, Managing Director, or CEO in the banking companies.
The information will be submitted to the Banking Policy and Regulations Department (BPRD) via scanned copies of duly signed returns and soft copies of the aforementioned returns in MS Excel formats.
Additionally, through a separate circular, the SBP has decided that the submission of periodic returns in hard copy format will end on December 31, 2022. Financial institutions are no longer required to submit hard copies of quarterly returns of Capital Adequacy Ratio (CAR), Net Stable Funding Ratio (NSFR), and Liquidity Monitoring Tool-Available Unencumbered Assets.
Similarly, a hard copy of Monthly Returns including Liquidity Coverage Ratio (LCR), Liquidity Monitoring Tool-Concentration of Funding, Liquidity Monitoring Tool-LCR by Significant Currency, Liquidity Monitoring Tool-Market related Monitoring Tools and fortnightly returns, including, Liquidity Monitoring Tool-Contractual Maturity Mismatch, are also not required.
However, the SBP has instructed FIs to submit CAR, LCR, and NSFR returns on the SBP’s DAP portal within 14 days of the close of the respective reporting period.
The Liquidity Monitoring Tools returns within 14 working days from the close of the respective reporting period on the dedicated email, i.e., [email protected].
In addition, FIs will continue to submit their annual audited CAR returns, duly certified by an external auditor, within three (03) months of the close of each calendar year, both in hard copy and via the DAP portal.
