KARACHI: The State Bank of Pakistan (SBP) issued a circular on Monday allowing the establishment of corporate restructuring companies with the power to acquire, manage, restructure and resolve non-performing loans.
According to the circular, corporate restructuring company means a public limited company licensed by the Securities and Exchange Commission of Pakistan (SECP) to carry out the business of acquisition, management restructuring and resolution of non-performing assets of financial institutions and restructuring, reorganisation, revival and liquidation of commercially or financially distressed companies and their businesses.
Financial asset includes any short-, medium- or long-term interest- and non-interest-bearing loan, finance…
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