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Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,228
2724hr
Pakistan Cases
1,262,771
1,08624hr
2.03% positivity
Sindh
464,746
Punjab
437,316
Balochistan
33,108
Islamabad
106,357
KPK
176,501

Karachi: The State Bank of Pakistan (SBP) has announced realignment of function for unclaimed deposits.

According to a circular issued on Thursday, the SBP has decided to transfer all operational functions related to unclaimed deposits under Section 31 of Banking Companies Ordinance, 1962 to the SBP Banking Services Corporation (SBPBSC) with effect from October 1, 2021.

Corporate/commercial banking: SBP includes credit firm in Annexure-I of PRs

These include surrendering of unclaimed deposits by banks/ DFIs, making information about surrendered deposits public, processing of applications for refunds of such deposits, etc.

Accordingly, SBP has advised all Banks/DFIs to submit all applications related to refund of unclaimed deposits to the Director, Accounts Department, SBPBSC, Karachi with effect from October 01, 2021.

Copyright Business Recorder, 2021

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Hanif Sep 25, 2021 01:55pm
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