KARACHI, April 5: The State Bank says that banks/DFIs are now free to appoint their employees or the members of their boards on the board of directors of their subsidiaries without any limit. The central bank said this while clarifying a news item carried by Dawn in its issue of April 5 headlined SBP changes rules for banks, DFIs. The SBP says that by allowing banks and DFIs to appoint the employees or the members of their board of directors on the board of directors of their subsidiaries, it has “provided the necessary flexibility to the banks/DFIs for effectively overseeing the operation of their subsidiaries.”
