Circulars/Notifications - Banking Policy Department  
 BPD Circular No. 33
October 02, 2003

The Chief Executives/Presidents,
All Banks

Dear Sirs,


Bank Charges

Please refer to Prudential Regulation No. X on the above subject.

2. In view of the representation received from the banks, from time to time, and for providing better & efficient services to the clients, the cap on the minimum & maximum charges to be recovered by the banks on exports (Para 1 of Prudential Regulation No. X) has been withdrawn. Accordingly, the instructions contained in Prudential Regulation No. X have been reviewed and substituted with effect from January 01, 2004 as under: -


(a) Banks are free to determine the rates of charges in respect of various services that they may provide to their customers.

(b) It shall, however, be mandatory for each commercial bank to fix its rates of charges on half yearly basis in advance for the half year January-June and July-December. Each bank shall get its schedule of charges printed and so notified as to be available to its constituents at least 7 days before the commencement of the half year during which the rates shall remain in force at all places of business. The banks shall be required to provide a copy of the printed schedule of charges to the Banking Policy Department of the State Bank of Pakistan before the commencement of the related half-year. The banks may also place the Schedule of Charges on their websites for information of the general public. No change in the notified schedule of charges will be allowed during the period in which these are in force.


3. It is expected that the banks will levy the service charges, which are commensurate with the quality of service they render to the customers. The service standards should be developed & announced to the public.


4. This will supercede the instructions contained in Prudential Regulation No. X as from the effective date of above instructions.


5. Please acknowledge receipt.

 


Yours faithfully,
(Muhammad Kamran Shehzad)
Director


BPD Circulars/ Circular Letters issued in 2002
       
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