Bank of Pakistan has been receiving complaints from financial
consumers that banks / DFIs generally do not provide them
acknowledgement receipts while depositing a copy of Zakat
Declaration Form (CZ–50) at branch counters in terms
of Zakat and Ushr Ordinance 1980, amended from time to
time. This tendency on the part of branch officials of
such banks / DFIs has been viewed seriously as the acknowledgement
receipt is considered prime evidence whenever any dispute
on Zakat deduction subsequently arises between the parties.
2. All banks / DFIs are hereby advised to invariably provide
acknowledgement to their customers on submission of Zakat
Declaration Form (CZ-50) by properly affixing branch stamp,
date and signature on its photocopy.
Accordingly, necessary instructions must be issued to
all branches for ensuring meticulous compliance with above
instructions in letter and spirit. Any breach of above
instructions may attract penal action under the Banking
Companies Ordinance, 1962.
Please acknowledge receipt.