May 8, 2003	Thursday	Rabi-ul-Awwal 5, 1424

KARACHI, May 7: The State Bank intends to announce a draft of new set of Prudential Regulations for small and medium enterprises and consumer financers.

This was stated by the deputy governor of SBP Tawfiq Hussain on Wednesday while addressing the UBL-PCIP Securitization Workshop.

A press release quotes SBP deputy governor urging the banks to redefine their business strategies and consider moving from collateral based lending to cash flow based lending. The banks need to venture into consumer banking and housing finance. The SBP has come up with a draft prudential regulations for corporate and commercial banking.

Earlier the President of Pakistan Chapter of Investment Professionals Mohammad Shoaib said that fastest growing type of securitization has been asset backed commercial paper. Other prominent professionals also spoke.