Please
refer to BPD Circular No. 23 dated July 04, 2003 on the captioned
subject.
2.
It has been noted from the notices published in the
newspapers by some of the banks that they are not indicating
the categories of account holders who are exempted from the
levy of service charges i.e. (i) Students (ii) Mustahiqueen
of Zakat (iii) employees of Government/Semi-Government institutions
for salary and pension purposes as stipulated in aforesaid
circular. Such type of publicity gives an impression that
the charges prescribed by the banks in their notices are applicable
to all account holders.
3.
Banks are, therefore directed that while publishing
the notices in the print media, they must also mention expressly,
the categories of above account holders exempted from
the levy of service charges. The banks are further advised
to prominently mention the categories of account holders exempted
from levy of service charges as well in their half-yearly
Schedule of Charges and in all other publicity campaign in
this regard.
4.
The banks who have already published the notices in
the newspapers without specifying the exempted categories
explicitly are advised to issue a corrigendum to this effect
immediately.
5.
Non compliance of the instructions shall attract penal
action under the provisions of Banking Companies Ordinance,
1962
6.
Please acknowledge receipt.
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