State Bank of Pakistan shortens the dead line for Quarterly data submission of MFBs

In a recent circular, the State Bank of Pakistan has decided to shorten the dead line for Micro finance banks for their quarterly submission of data thru’ Reporting Chart of Accounts on Data Acquisition Portal (DAG). From now on the Micro Finance Banks (MFBs) will submit their quarterly data within 18 working days at end of each quarter instead of 30 days. The banks are also advised to make necessary changes in their systems for timely submission of the data, failure of which can result into different penalties by SBP.