PROCEDURE FOR SUBMITTING CLAIMS WITH SBP IN RESPECT
OF AMOUNTS OF UNCLAIMED DEPOSITS/INSTRUMENTS SURRENDERED BY BANKS/DFIS
In terms of Section 31 of Banking Companies Ordinance, 1962 all Banks/DFIs in Pakistan are required to surrender to State Bank of Pakistan (SBP) all those deposits which have not been operated upon during the period of last ten years, except deposits in the name of a minor or a Government or a court of law, as stipulated under Subsection (1) of Section 31 of Banking Companies Ordinance (BCO), 1962., after meeting the conditions as per provisions of law. Banks/DFIs are required to report such deposits to SBP on year end basis and surrender the same as per SBP instructions in vogue. Banks/DFIs can lodge their claims with State Bank, on approaching them by the claimants. Banks/DFIs while forwarding any claim for refund to SBP will provide legible and duly attested, copies of the following documents:
1. Original Application for refund along with verification of attested signature /thumb impression of the claimant by the concerned branch manager with name and stamp. Claimant’s address and contact number (if any) should be ensured in the application.
2. Copy of three months notice served by the Banks/DFIs on the holder of the unclaimed deposits / instrument.
3. Certificate as enclosed with BPRD Circular Letter N0.20 dated 29th July, 2009 (Annexure-C).
4. Attested copy of computerized national identity card(CNIC) of the claimant
5. Copy of relevant page of record furnished to SBP.
6. Succession certificate in case of deceased customer.
CERTIFICATE FOR REFUND OF UNCLAIMED ACCOUNT (Annexure-C) (PDF size 4.47 KB)