KARACHI: State Bank of Pakistan (SBP) on Wednesday directed banks to facilitate people in depositing their donations for Diamer-Bhasha and Mohmand Dam Fund.
The SBP said that in compliance with the directives of the Supreme Court of Pakistan in the Constitution Petition No.57/2016, the State Bank of Pakistan (SBP) vide Circular No. 04 dated July 10, 2018 and Circular No. 07 dated September 7, 2018 prescribed the mode, manner and channels for collection and deposit of donations to the subject Fund.
Specifically, following channels were made available to the domestic donors:-
a) Counters of the banks: Donors may deposit their donations and contributions at the counters of any branch of any bank in Pakistan, including microfinance banks, and remittance of donation so deposited to the principal account of the Fund at SBP within 30 minutes through Pakistan Real- time Interbank Settlement Mechanism;
b) Alternate Delivery Channels (ADCs): In order to facilitate donors and to obviate the need to visit the branches; Internet Banking, Automatic Teller Machines (ATM) and other ADCs were also activated for collection and subsequent remittance thereof to the Fund Account at SBP; and
c) Branchless Banking: The commercial and microfinance banks offering Branchless Banking (BB) were directed to facilitate the donors in depositing donations through their BB agents.
Similarly, Overseas donors were facilitated to deposit their donations by using any of the following channels:-
a) Wire transfer to SBP Nostro account with NBP, New York;
b) Transfer through Money Service Bureaus, Money Transfer Operators and Exchange Houses;
c) Deposit of donations at Pakistan Missions and Embassies abroad;
d) Deposit of donations at branches of domestic banks abroad; and
e) Transfer through Debit/Credit Cards
The apex court in its recent hearing observed that donors still encounter difficulties in depositing their donations, both locally and overseas.
The banks are directed that instructions, so far issued on the subject, vide circulars referred above must be meticulously complied with especially with regards to display of banners and panaflex advertising “DONATIONS TO THE SUPREME COURT OF PAKISTAN AND PRIME MINISTER OF PAKISTAN’S DIAMER BHASHA AND MOHMAND DAMS FUND ARE ACCEPTED HERE”.
