KARACHI: The State Bank of Pakistan (SBP) has revised timeline for submission of monthly data on Reporting Chart of Account. Now all banks, DFIs and IBBs will be required to submit the monthly data through Data Acquisition Portal (DAP) within two working days instead of five working days.

AS per SBP directives, the banks, DFIs, IBBs are required to submit weekend and month-end data on the prescribed Data File Structure (DFS) under Reporting Chart of Account (RCOA) through DAP.

In view of the similar type of Data File Structure for reporting of weekly and monthly data, now the SBP has decided that the banks, DFIs and IBBs will submit the monthly data through DAP within two working days from the end of each calendar month instead of five working days, with effect from the month ended on September 30, 2020.

Further, the banks/DFIs/IBBS will continue reporting of weekly data through DAP within two working days from the end of each week.

Copyright Business Recorder, 2020