KARACHI, Dec 22: The State Bank of Pakistan has directed banks to stop debit transactions/withdrawals of all those account holders, who have failed to submit an attested photo copy of their computerised national identity cards (CNIC) in the concerned bank branch or accounts have been dormant for other reasons.
However, transactions regarding recovery of loans and mark up etc., any permissible bank charges, government duties or levies and any debit transaction instructed under any law or from a court of law will be allowed, said a circular issued by SBP here on Wednesday.SBP has clarified that the banks can allow credit entries in such accounts, which are dormant as per bank's own policy or for non-submission of CNICs by the account holders.
For this purpose, SBP has amended para (7) of Prudential Regulation M-1 for Corporate /Commercial Banking vide circular No 7 dated March 9, 2009. —APP
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