In a significant development, the State Bank of Pakistan (SBP) has confirmed that all banks and development finance institutions (DFIs) have surrendered unclaimed deposits up to December 31, 2024. This move allows individuals to reclaim dormant accounts and long-forgotten balances. According to SBP, "Banks/DFIs have surrendered their unclaimed deposits to the State Bank. Claimants can apply for a refund of their claims." This initiative is expected to benefit many citizens who have been unaware of their inactive financial assets. The process for claiming these funds involves contacting the bank where the account was opened or the nearest branch if the original branch has closed, ensuring accessibility for all potential claimants (TechJuice, February 23, 2026).
BUSINESS
State Bank Of Pakistan Surrenders Unclaimed Deposits For Reclaiming
33% NEUTRAL
The SBP allows reclaiming unclaimed deposits until Dec 31, 2024, aiding citizens with dormant accounts. Meanwhile, customs' mishandling of seized gold raises concerns over asset management.
Detailed Analysis
SOURCES
2 outlets · 3 articles