KARACHI: The State Bank of Pakistan (SBP) has announced to open “Prime Minister’s Türkiye Earthquake Relief Fund Account” for collection of donations to support the earthquake victims and Turkish Government in a difficult time.
SBP has asked the commercial and microfinance banks to open the account of the Fund and receive donations or contributions in cash, through cheques, pay order and demand drafts, at all their branches across the country.
The Government of Pakistan has already notified establishment of a relief fund, namely, Prime Minister’s Relief Fund for Türkiye Earthquake Victims, to extend maximum support to the Turkish Government and the people to help them cope with the destruction caused by the Earthquake.
The Fund shall accept donations/ contributions both from domestic and international sources for the aforesaid purpose. The Fund will be administered by the National Disaster Management Authority (NDMA) while the Accountant General Pakistan Revenue will maintain accounts of the Fund.
The SBP has provided multiple options to donors for making donation and contribution to the Fund. Domestic donors and contributors may make their donations/ contributions to the fund in cash at any branch of any bank operating in Pakistan, which shall transfer the consolidated amount of such donations to the Fund account at SBP through RTGS on daily basis.
Similarly, donations/ contributions may also be made at any of the field offices of SBP Banking Services Corporation.
The donors and contributors may make their donations/ contributions to the Fund by dropping crossed cheques in the name of the Fund in their respective bank’s drop box. All banks have been asked to make available drop box facility at their selected branches for donors where they may drop their crossed cheques in favour of the Fund. The banks will, accordingly debit the customer’s account and transfer the amount of such proceeds daily on consolidated basis through RTGS to the SBP.
The domestic donors may also use alternate delivery channels, e.g., internet banking, mobile banking, Automated Teller Machines (ATMs) and mobile wallets etc. to donate / contribute to the Fund account through InterBank Fund Transfer Facility (IBFT)/Raast. The commercial and microfinance banks have also been directed to prominently display the IBAN of the Fund at their websites.
Overseas donors including overseas Pakistanis may donate to the Fund through wire transfer in the Fund account maintained with their respective bank. They would simply advise their respective banks to transmit the donation amount in the Fund Account by debiting their accounts.
Copyright Business Recorder, 2023