Circulars/Notifications - Banking Policy & Regulations Department

BPRD Circular No. 09 of 2018 October 18, 2018

The Chairmen and Presidents/CEOs

All Banks/DFIs

Dear Sirs/Madams,

Fit& Proper Test (FPT) Criteria

Banks/DFIs may please refer to BPRD Circular No.4 of 2007, BPRD Circular No.5 of 2015 and other instructions amended from time to
time.

2. State Bank of Pakistan (SBP) has been issuing instructions to strengthen the Fit & Proper Test Criteria from time to time. In view of potential
risk arising from money laundering, terrorism financing and proliferation financing, it is imperative that any person(s) linked to any criminal
activities or affiliated to any terrorist organizations shall not become part of banks/DFIs.

3. Accordingly, any sponsor shareholders/beneficial owners, directors, presidents and key executives (persons subject to FPT) shall become
disqualified if they are designated/proscribed or associated directly or indirectly with designated/proscribed entities/persons under United
Nations Security Council Resolution or Anti-Terrorism Act 1997. Henceforth, all banks/DFIs are advised to submit revised FPT Questionnaire
and Undertaking as per Annexure-V to SBP confirming that the person subject to FPT has been verified through National Database and
Registration Authority and screened against the list(s) of designated/proscribed entities and persons as per the applicable laws, rules and
regulations.

4. Further, it is reiterated that FPT is continuous in nature. Any subsequent change in this regard shall be immediately disclosed to the Board of
Directors and/or the concerned authority including SBP.

5. Please acknowledge receipt.

Enclosure:
Revised FPT Questionnaire of Annexure-II
Annexure-V

Yours truly,

Sd/-
(Muhammad Saleem)
Additional Director

Home Laws & Regulations What's New? Library

About SBP Monetary Policy Speeches Rupey ko Pehchano
Publications Help Desk Online Tenders Events
Economic Data SBP Videos Web Links Zahid Husain Memorial Lecture
Press Releases Feedback Educational Resources Careers
Circulars/Notifications Contact us Regulatory Returns Sitemap

Best view Screen Resolution : 1024 * 768

Copyright © 2016. All Rights Reserved.