I have seen the letter of Abdul Qadir Bombaywala in the Business Recorder, Karachi regarding improper accounting in banks and the honourable court of Sindh has directed to the State Bank of Pakistan to appoint a chartered accountant from among its approved list to "verify the extent of such liability."

It is surprising that SBP without verifying the borrower's case put the name of such customer on the CIB list, which damages its reputation.

SBP officials think that the banks reporting is correct. This is not justified at all.

This is not honesty of the State Bank which is spoiling the reputation of the bank, because somebody wants to damage the reputation of the Governor of SBP as he is making a lot of effort to change and improve the banks' system.

These CIB reports are made mostly prepared by Habib Bank and National Bank of Pakistan on false basis to but the names of the borrowers on the CIB list without looking properly into the cases and the SBP put such names on the CIB list without verification which should be checked properly, thus damaging the reputation of the companies.

Copyright Business Recorder, 2004