KARACHI: The State Bank of Pakistan (SBP) has announced withdrawal of cash-related conditions imposed in the wake of Covid-19.
In order to avoid spread of Covid-19 through currency notes, the SBP in 2020, advised banks to disinfect, seal and quarantine cash collected from its counters for 14 days or process such banknotes through Pakistan Council of Scientific and Industrial Research (PCSIR) certified machines in lieu of the 14 days quarantine. Banks were given credit for all such cash collected from hospitals and clinics and kept under quarantine on behalf of the SBP.
However, now keeping in view the current situation, whereby all Covid-related restrictions have been lifted at the national level by the NCOC, the instructions issued to banks regarding quarantine of cash are hereby rescinded and revoked.
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The SBP said that although the restrictions have been withdrawn, banks will be encouraged to continue taking necessary measures for disinfecting the cash and keeping a neat and healthy working environment for their cash processing staff.
Copyright Business Recorder, 2022
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