Pakistan banks told to double capital base by 2003
Central Banking staff
Save this article
Print this page
Pakistan has told banks to double their minimum paid-up capital to one billion rupees ($17.2 million) by the start of 2003. "No banking company shall be permitted to undertake a full range of financial services unless and until it has a minimum paid up capital, net of losses, of rupees one billion on or before January 2003," said a statement of Pakistan's central bank issued late on Wednesday. The statement said a banking company failing to meet the minimum capital requirement would stand to
To continue reading...
Start a Trial
Register for a Central Banking trial to access this article. Sign up today and get access to: