| GEO Business|
| SBP asks for FIs chief’s tenure ending info in advance|
| Updated at: 1534 PST, Wednesday, August 20, 2008|
KARACHI: State Bank of Pakistan (SBP) has made it mandatory for any financial institutions’ president/CEO intimating the Central Bank at least two months advance his/her resignation, before end of his/her tenure besides stating reasons for such decision, while the Board of Directors of any financial institution must intimate its decision of premature terminating of service of any president/CEO at least two months in advance.
SBP in a circular issued to all the chiefs of the banks directed strict adherence to the directives.