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SBP suspends service charges to facilitate banks

KARACHI: The State Bank of Pakistan (SBP) on Wednesday announced temporary suspension of 0.12 percent service charges levied on banks against deposit of re-issuable balance.

Through FD Circular No. 03/2015, dated August 26, 2015, 0.12 percent service charges have been levied on the banks against deposit of re-issuable balances with SBP BSC offices or NBP chest branches.

In order to facilitate the banks in managing the excess liquidity, consequent to large volumes of withdrawals on the eve of Eid and the COVID-19 pandemic, it has been decided to extend the temporary suspension of 0.12 percent service charges on deposit of re-issuable balances with SBP BSC offices or NBP chests branches.

Accordingly, banks can deposit re-issuable balances with SBP BSC offices or NBP chests without levy of 0.12 percent service charges on deposit of re-issuable balances till June 30, 2021.

2020-06-17
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