The Chief Executives / Presidents,
All Banks/ DFIs.
Dear Sirs / Madam,
STATEMENT
OF ACCOUNTS
Please refer to BPD Circular No. 21 dated August 13, 2002
on the captioned subject.
2. In terms of para “1” of the aforesaid Circular,
the banks were advised to dispatch the statement of accounts
pertaining to current as well as PLS accounts periodically
to their customers. However, it has been noted that some
of the banks are not dispatching the statement of accounts
to their customers having balances of less than Rs. 10,000
on the plea that the aforesaid circular does not require
the same.
3. In this regard, it is clarified that all banks are required
to invariably send the statement of accounts periodically,
at least semi-annually, to all of their account holders
irrespective of the balances in their accounts.
4. Other instructions on the subject matter would remain
unchanged.
5. Non compliance of the above would attract penal action
under the provisions of the Banking Companies Ordinance,
1962.