In a significant development, around 13 commercial banks in Pakistan have surrendered their unclaimed deposits up to December 31, 2024, to the State Bank of Pakistan (SBP) in compliance with the Banking Companies Ordinance, 1962. This initiative aims to ensure that dormant funds are returned to their rightful owners, allowing individuals to reclaim dormant accounts and long-forgotten balances. The SBP stated, "Banks/DFIs have surrendered their unclaimed deposits to the State Bank. Claimants can apply for a refund of their claims," which is expected to benefit many citizens who have been unaware of their inactive financial assets (Pkrevenue, February 23, 2026).
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Pakistan Banks Surrender Unclaimed Deposits To State Bank
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Pakistan's banks have surrendered unclaimed deposits to the State Bank, aiding citizens in reclaiming dormant funds. Meanwhile, customs negligence raises concerns over unreported seized gold and si...
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