Should this Deed be signed by more than one person all signatories hereto shall

Should this deed be signed by more than one person

This preview shows page 233 - 236 out of 297 pages.

Should this Deed be signed by more than one person, all signatories hereto shall be jointly and severally liable to Bank for all the liabilities herewith. Should the Borrower be a company or a firm, the liability of such company or firm towards the Bank shall remain effective despite any change in the constitution, memorandum and/or articles of association of the said company or firm. Without prejudice to the Bank’s absolute right to submit to any other law or jurisdiction, this document shall be governed construed and interpreted in accordance with the law of the country. Signatures of Witnesses Signature of the borrower. Witness—1 Witness---2
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Banking Laws and Practices-BNK 601 VU © Copyright Virtual University of Pakistan 232 LESSON LESSON 38 38 38 PRUDENTIAL REGULATIONS OF SBP SBP Prudential Regulations In order to promote good governance in the banking system , the State Bank of Pakistan announced a set of prudential regulations on August 29,1991.These regulations were made effective from 1st of July, 1992 Non-Bank Financial Institution (NBFIs) have also been placed under regulatory regime of SBP. Considerations & Factors for introducing Prudential Regulations: The said regulations were introduced keeping in view the following factors; Creation of healthy lending as well as borrowing culture. Protection of depositors as well as share holders interests. Improvement in banking management & governance standards, ensuring a strong, viable and disciplined growth of banking sector. Designing minimum criteria for credit risk management. Prevention of misuse of banking facilities and channels. (e.g. Anti money laundering regulations). Regulations for Corporate/Commercial Banking Main contents are outlined hereunder: Part A—Definitions' Part B—Regulations. • Risk Management. Rl To R13 Corporate Governance Regulations Gl to G4 KYC & Anti Money Laundering Regulations. Ml &M2 Operations 0-1 To 0-5 Annexure. B) Regulations For Small & Medium Enterprises Financing Regulations R l To R 11 Annexure Prudential Regulation for Consumer Financing Regulations for consumer financing.R1 to 6 Regulations for Credit cards. O1 to O7 & R.7& R8 Regulations for Auto Loan. R-9 to R14 Regulation for Housing Finance. R15 to R23 Regulations for Personal Loan Including Loans for Purchase of Consumer durables. R24 to R28 Annexure-1- Margin Requirements under Regulation #6 Prudential Regulations for Consumer Financing Consumer financing means any financing allowed to individuals for their personal, family or house hold needs including the following: Credit cards
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Banking Laws and Practices-BNK 601 VU © Copyright Virtual University of Pakistan 233 Auto loans Housing finance Personal loans Definitions as contained in these regulations are given hereunder: Bank means a banking company as defined in the Banking Companies Ordinance, 1962.
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