Pakistan Exchange Companies asked to install Online Software  
'Pakistan Times' National News Desk

KARACHI: The State Bank of Pakistan, Saturday asked the Exchange Companies of 'B' to install real-time online software on integrated and interconnected networking computer system to strengthen and streamline the internal controls and overall workings of the Exchange Companies o B Category [EC(B)].

According to EPD Circular Letter No. 06 the efficient software fully capable of fulfilling the business and reporting requirements should be installed by May 31, 2007.

The Bank asked the Exchange companies that the System generated receipts should be issued in accordance with the instructions and Rules and Regulations prescribed for EC(B)s including Rules No. 17, 18 and 19.

Moreover, the central bank directed them to ensure that all of their branches are connected to the Head office on real-time. The Exchange Companies of B category are directed to meticulously comply with the above instructions.●