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.