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Pakistani banks accused of accounts manipulation.

Global Banking News-18 December 2009-Pakistani banks accused of accounts manipulation(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 18 December 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

Pakistani banks have been accused of manipulating their account books to meet minimum capital requirements set by the State Bank of Pakistan (SBP).

It is believed that commercial and Islamic banks have been manipulating their internal accounts to meet minimum capital requirements set by the central bank. Small banks that are not able to meet the capital requirement target are said to be showing their capital as non-performing loans in order to meet the limits set by the central bank.

Former governor of the SBP, Dr Shamshad Akhtar had in September 2008 directed all banks to bring their minimum capital requirement to the limit of PKR23bn in 2013.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

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Publication:Global Banking News (GBN)
Date:Dec 18, 2009
Words:163
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