Capital Adequacy Returns: SBP advice to MFBs

The State Bank of Pakistan (SBP) has advised all Microfinance Banks (MFBs) to report their quarterly un-audited Capital Adequacy Returns to its Banking Surveillance Department as per the reporting format prescribed in Annexure-A of Prudential Regulation No 4 for Microfinance Banks within 18 working days of the end of each calendar quarter.
The first such statement for the quarter ended December 2011 should be sent by 29th February, 2012, says BSD Circular Letter No 02 of 2012 issued to the Presidents/Chief Executives of all MFBs today. Microfinance Banks are also required to submit the annual audited Capital Adequacy Returns within three months of the end of each calendar year, the circular letter added.