KARACHI: The Senate Standing Committee on Finance, Economic Affairs, Statistics and Privatisation approved the Draft Credit Bureaus Act 2015.
State Bank of Pakistan (SBP) Deputy Governor Saeed Ahmed briefed the Senate committee about the contents of the Draft Credit Bureaus Act 2015 and submitted comparison of main clauses of ten other countries, as advised earlier by the committee, an SBP statement said.
The SBP has been empowered to prescribe the amount of paid-up capital as in case of banks, microfinance banks, payment system operators, exchange companies etc. it had recently held a meeting for deliberation on the draft in order to provide for the incorporation, functioning and regulation of credit bureaus in private sector.
