SBP opens account for Balochistan Flood Relief, Rehabilitation Fund State Bank of Pakistan

SBP opens account for Balochistan Flood Relief, Rehabilitation Fund

KARACHI: The State Bank of Pakistan (SBP) on Thursday opened an account for collection of donations to Balochistan Flood Relief and Rehabilitation Fund 2022.

According to a circular issued by the central bank, the Government of Balochistan [GoB] has notified establishment of a flood relief fund, namely, Balochistan’s Flood Relief and Rehabilitation Fund, for providing relief and rehabilitation to the affected population due to torrential rains and flash floods in the Province.

The Fund shall accept donations / contributions both from domestic and international sources for aforesaid purpose. The Director General, Provincial Disaster Management Authority (PDMA) will administer the Fund while the Accountant General Balochistan will maintain accounts of the Fund.

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In this regard, the SBP has opened “Balochistan’s Flood Relief and Rehabilitation Fund Account 2022” for collection of donations / contributions to the Fund. All the commercial and microfinance banks shall open the account of the Fund and shall receive donations / contributions in cash, through cheques, payorder and demand drafts, at all their branches across the country.

Donors have been provided multiple options for making donation/ contribution to the Fund as described below:

A. Overseas Donors:

a. Roshan Digital Account (RDA) Holders: The Non Resident Pakistanis (NRPs) can contribute in the “Balochistan’s Flood Relief and Rehabilitation Fund” by clicking the fund icon on their bank’s Roshan Samaji Khidmat Page. The RDA banks shall create the “Balochistan’s Flood Relief and Rehabilitation Fund” button/link on their Roshan Samaji Khidmat page by 7th September 2022.

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b. Wire Transfer: the overseas donors including NRPs not having RDA may donate to the Fund through wire transfer in the Fund account of any commercial bank in Pakistan. They would simply advise their respective banks to transmit the donation amount in the Fund Account by debiting their accounts.

c. Transfer through Money Service Bureaus, Money Transfer Operators and Exchange Houses: Overseas donors may also donate / contribute through Money Service Bureaus (MSBs), Money Transfer Operators (MTOs) (e.g. MoneyGram, Western Union) and Exchange Houses (EHs) in line with the arrangements in place for receiving home remittances.

B. Domestic Donors:

a) Cash Deposits at Banks’ Counters: Donors may make their donations / contributions to the fund in cash at any branch of any bank operating in Pakistan. Similarly, donations/ contributions may also be made at any of the field offices of SBP Banking Services Corporation. The banks and SBP BSC offices shall ensure availability of preprinted deposit slips at their cash counters.

b) Deposit of Crossed Cheques in the Name of the Fund in Bank’s Drop Boxes: 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 shall make available drop box facility at their selected branches for donors where they may drop their crossed cheques in favor of the Fund. The banks shall, accordingly debit the customer’s account and transfer the amount of such proceeds daily on consolidated basis through RTGS to the SBP.

c) Digital Channels: The donor may also use digital channels e.g. interbank fund transfer facility (IBFT), RAAST, mobile banking, mobile wallets and ATMs etc. to donate to the Fund. The commercial and microfinance banks shall prominently display the IBAN of the Fund at their websites.

The banks receiving / collecting donations from overseas as well as domestic donors in the Fund Account shall transfer the consolidated amount through RTGS to the SBP on daily basis.

The banks shall maintain the details of individual donors i.e. name of donor the amount of his/her contribution, mode of payment etc. with them and shall be made available to SBP as and when needed.