According to the amendments made in paragraph 2 of Regulation R-7 of the above mentioned Prudential Regulations, the existing limit of $ 250,000, for issuance of unsecured guarantees by the banks/DFIs in Pakistan against the back to back/counter-guarantees of the banks situated in foreign countries not meeting the prescribed rating of at least "A", has been enhanced to $ 500,000 if tenor of such guarantees is up to one year.
SBP, DFIs, Commercial Banking, finance institutions, Economy news
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