The State Bank of Pakistan has issued revised prudential regulations for microfinance banks to streamline the requirement of obtaining credit information reports and simplify the documentation process for borrowers. The move is aimed at enhancing the role of MFBs in accelerating economic activities and creating bigger opportunities for small borrowers. “Earlier, MFBs were required to obtain written declaration from borrowers about facilities already obtained by them from other financial institutions,” the central bank said. The requirement has, however, been withdrawn to avoid duplication because Licensed Commercial Banks (LCBs) are able to offer comprehensive CIR to individuals/bor.