Audit and Financial Reporting Requirements

Foreign, Private and Nationalized Banks

Annual financial statements should comply with the Banking Companies Ordinance and must be filed annually with the State Bank of Pakistan by March 31. The mandated financial year end is December 31. The State Bank of Pakistan may, under special circumstances, extend the due date by a period up to three months.

Nationalized banks are also required to file statutory reports, together with information regarding shareholders and directors, with the Registrar of Joint Stock Companies within 30 days of the annual shareholders' meeting. Branches of foreign banks are required to file their worldwide balance sheet containing prescribed information or, in its absence, a statement of the branches in the form of a balance sheet containing prescribed information with the Registrar of Joint Stock Companies. Banks are required to publish their annual and quarterly (except for the fourth quarter) financial statements in the national press and display them at each branch office. The financial statements for the second quarter must be reviewed by the auditors. Other requirements, where applicable, for nationalized banks, private banks and branches of foreign banks regarding language of reports, consolidated financial statements, directors; report, availability of printed reports, and accounting records are the same as for listed public companies.

Other Reports
Auditors must submit a special report annually giving certain prescribed details to the State Bank of Pakistan prior to publication of the bank's annual financial statements. There are no extensions or waivers available.

Tax Return

See "Listed Public Companies" page.

• Listed Public Companies
• Public Unlisted and Private Companies
• Non-Banking Financial Institutions
• Listed Insurance Companie

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