ZTBL clarifies position in lieu of petition in IHC

In response to a news items published in various sections of press, a Zarai Taraqiati Bank Ltd. (ZTBL) spokesman stated without prejudice that all the bank’s affairs are run strictly according to the statutes and regulations laid down by the State Bank of Pakistan (SBP), which is the regulator. Periodic inspections are made in the bank’s management and the organisation followed and adhered to the observations made by the regulatory authority. He further stated that Board of Directors of ZTBL was constituted by the Federal Government vide Notification dated June 14, 2010 after going through a strict clearance procedure under Fit & Proper Test Criteria carried out by SBP. The non-Executive Directors have not drawn any salary from the Bank, he said.