SBP orders banks to create NPL strategy within six months
MG News | July 24, 2024 at 02:13 PM GMT+05:00
July 24, 2024 (MLN): The State Bank of Pakistan (SBP) instructed banks to develop a comprehensive Non-Performing Loans (NPLs) management Strategy, duly approved by their Board of Directors, according to the circular issued to the Presidents and CEOs of all banks.
This is to facilitate banks to deal with the existing stock of NPLs and minimize further build-up of NPLs.
While developing the said strategy, banks shall appropriately follow the Guidelines on NPLs Management Strategy.
"Banks are advised to ensure the development and implementation of the Strategy within six months from the issuance of this circular," the circular reads.
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