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