Tag: SBP

KARACHI: State Bank of Pakistan (SBP) has exempted services charges on donations made to Prime Minister Corona Relief Fund through payment cards.

The SBP in a statement on Tuesday said that it previously issued a circular on August 06, 2018 on Service Charges on Donations/ Payments to Supreme Court of Pakistan’s Diamer Bhasha and Mohmand Dam Fund through Payment Cards.

In this regard, it has been decided that the scope of the Circular would also cover Payments/Donations made to the Prime Minister’s as well as provincial governments’ Covid19 Pandemic Relief Funds.

Accordingly, all issuing and acquiring banks in Pakistan shall not charge any service fee including Interchange Reimbursement Fee (IRF), Merchant Discount Rate (MDR), Merchant ID Fee, on boarding fee or any other fee that may be applicable on any transactions made to the said account.

The issuing and acquiring banks/microfinance banks/payment schemes are advised to meticulously comply with these instructions.

KARACHI: State Bank of Pakistan (SBP) on Monday further relaxed conditions for refinance facilities for hospitals that are engaged in combating the coronavirus (COVID-19).

The central bank in a statement said that since the outbreak of COVID‐19, the SBP has taken a number of measures to support the economy. One of the earliest measures taken by SBP was to support the hospitals, which have been at the fore front in combating the disease, by providing them a facility to meet their financial needs namely the SBP Refinance Facility to Combat COVID‐19 (RFCC) on March 17, 2020.

Since then SBP received several suggestions by stakeholders to further improve it. Keeping in view such suggestions, SBP has provided more flexibility under RFCC to facilitate the health sector further.

Hospitals and medical centres engaged in fight against COVID‐19 will now be allowed to avail financing against their existing equipment and purchase of refurbished equipment as well, provided the same are used in creation of special facility/isolation ward to deal with COVID‐19.

Moreover, maximum coverage of 60 percent of civil works for setting up separate /isolation facility, has also been enhanced to 100 percent. Banks have been directed to ensure that financing extended under this facility is utilized for the intended purpose.

It is believed that above changes would help hospitals/medical centres avail SBP’s refinance facility with much ease.

KARACHI: State Bank of Pakistan (SBP) has facilitated consumers of banks by setting up direct helpline for quick disposal of complaints amid difficult situations due to coronavirus.

In a statement issued on Monday, the central bank said it had taken additional measures to facilitate bank customers that are faced with extraordinary challenges arising out of COVID-19 situation in the country.

They can now approach SBP through its helpline service in case their queries or complaints are not being responded by banks.

The SBP also encourages public to use digital payment services as much as possible to help banks providing their services with minimal staff to ensure their safety.

SBP has taken notice of phone calls to banks’ customers by fraudsters seeking personal information taking advantage of the current conditions. Following are the details of measures taken.

To facilitate banking consumers, SBP has advised all banks to ensure that their call centers/helplines are available 24/7 for instant customer support.

Banking consumers are encouraged to approach banks through helpline for queries or lodging complaints. In case complainants do not get an appropriate response from banks, they may approach SBP helpline at 021-111-727-273, which will remain available during office hours.

To cater to the needs of the public for facilitation and guidance, SBP has enhanced its helpline capacity by deploying more agents at its call center.

The general public is encouraged to take appropriate safety measures in the context of the coronavirus and use alternate delivery channels where possible.

SBP recognizes that the employees of banks and other financial institutions are providing services amid the difficult working conditions arising due to COVID-19.

For the protection of bank employees and customers, work place safety and to meet the operational challenges in serving the bank customers, banks have been advised to implement guidelines issued by World Health Organization, the Government of Pakistan and the Provincial Governments in letter and spirit.

Nevertheless, bank employees and customers still facing difficulties or having concerns over arrangements may bring this to the notice of SBP.

For this purpose, queries, concerns, complaints may be emailed to SBP at [email protected].

SBP has time and again advised the general public through various channels of communication not to disclose or share any personal information about their bank accounts or credit/debit cards including CNIC number, debit or credit card number, passwords, PINs and one-time password (OTP), etc. on incoming phone calls or messages.

It has been brought to the notice of SBP that fraudsters, imitating as officials of SBP, bank or any other government agency, have been attempting to seek personal information from the public on the pretext of verification of account due to emergency conditions under COVID-19 pandemic.

It is reiterated that SBP, banks or any other agency are not collecting information from banking customers regarding their bank accounts or cards.

The SBP never asks for any personal information directly from bank customers. The general public is, therefore, advised again not to disclose personal information on incoming calls.

Details of any such call or message received by the public may also be reported to SBP Helpline at 021-111-727-273 or emailed at [email protected]