ANNUAL REPORT FOR 1986
Introduction
this As
a
brief
the
is the first Report under the
Banking
1986, Ordinance,
summary of development of prudential supervision leading up to the enactment of the Banking Ordinance will be of assistance. As early as 1948, a Banking Ordinance
sought:
"to provide for the regulation and licensing of
the business of banking.
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Licensing and other controls were in the hands of the Governor who had powers to require banks:
"to produce
to
such
person
and
within
such
period as may be named in such order any books, accounts or documents of any such bank."
In
first
of Commissioner
Banking
was
1964 the appointed with considerable powers under the Banking Ordinance, 1964, enacted:
"to make better provision for the licensing and control banks, banking business and matters
connected therewith."
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