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SINDH PROVINCIAL COOPERATIVE BANK
Sindh Central Cooperative Bank Ltd. was
established in 1919. Later on it was named as Sindh
Provisional Cooperative Bank Ltd. The Bank is run by 15
Board of Directors, five (5) of whom are nominated by
the Sindh Government, five (5) by the Federal Bank for
Cooperatives and the remaining five (5) are elected by
the Cooperative Societies. Registrar Cooperative
Societies is the Ex-Officio Chairman of SPCB.
Arranging Credit facilities for
Agriculture Cooperative Societies is one of the main
Functions of the Cooperative Bank. These
Loans are arranged through Sindh Provincial Cooperative
Bank Ltd. The State Bank of Pakistan was financing Sindh
Provincial Cooperative Bank till 1966. However, after
the establishment of the Federal Bank for Cooperatives,
the SPCB was declared Apex Bank under the FBC for
Cooperative Act 1977. The FBC advanced short-term
Seasonal Loans and medium-term Tractor Loans against
100% guarantee of Sindh Government.
However, because of the failure in
repayment of Loans to the Federal Bank, it had stopped
advancing Loans to SPCB since 1989. The matter of
Reactivation / Rehabilitation or otherwise of the Sindh
Provincial Cooperative Bank Ltd., was placed before the
Government for taking decision on the issue.
The Sindh Cabinet in its meeting held on
20th Jan, 2004 had approved in
principal proposal for Liquidation of the SPC Bank and
establishment of Micro Credit Bank in its place. The
proposal was to be placed before the Cabinet after the
details have been worked out. A proposal of
establishment of Sindh Bank on the pattern of Punjab
Bank is now under consideration with Finance Department.
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