KARACHI - The SBP has decided that any investment portfolio up to 15 per cent of the equity of a bank/DFI/MFB will not be considered as core activity for the purpose of outsourcing arrangements under its guidelines, said a circular issued by the SBP here on Friday. According to the BPRD circular letter No. 11 of May 13, 2011, Banks/DFIs/MFB under the guidelines, are not allowed to outsource their core activities, functions and processes such as risk management function, internal audit function, treasury function, internal control function, compliance function and decision-making including determining compliance with Know Your Customer (KYC) requirements for opening deposit accounts & credit functions.