Government of Pakistan

State of Bank Pakistan

June 16, 2004

BPD Circular No. 19 of 2004

The Chief Executives,

All Scheduled Banks

Dear Sirs / Madam,

BRANCH LICENSING POLICY

Please refer to BPD Circular No. 36 dated 3rd December 2002 and BPD Circular Letter No. 21 dated 27th June 2003 on the above subject.

2. In order to facilitate banks to ensure compliance of statutory/regulatory requirements regarding licenses of branches it has been decided to issue a comprehensive circular containing all the instructions notified from time to time on the subject. A copy of the consolidated Branch Licensing Policy is hereby enclosed for information and strict compliance of the banks. BPD Circular No. 36 dated 3rd December 2002 and Circular letter No. 21 dated 27th June 2003 on the subject stands withdrawn w.e.f the date of issue of this Circular.

3. Please acknowledge receipt.

Encl: (As above)

Attachment

Yours faithfully,

Sd/-

(MUHAMMAD KAMRAN SHEHZAD)

Director