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of Prudential Regulation No. X) has been withdrawn.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.
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