Regulatory Alerts2023-02-13
Added
DFIM Circular Letter No. 03: Collecting and Preserving Audited Financial Statements in Loan Files for Approval and Renewal of Loans of Financial Institutions
This circular extends the effective date for the requirement to collect and preserve audited financial statements for Cottage, Micro, and Small sub-sectors within the MSME sector from January 1, 2023, to January 1, 2025. This extension applies specifically to institutions in these sub-sectors that are classified as public interest entities under Section 2(8) of the Financial Reporting Act, 2015. All other instructions from the referenced circulars remain unchanged.
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