Circulars/Notifications - Payment System Department  
 PSD Circular No. 01 of 2017
Jan 11, 2017 

The Presidents / Chief Executive Officers,
All PRISM Participants,

Dear Sir / Madam,

Clearinghouse Membership for Central Directorate of National Savings (CDNS)

 

In order to facilitate the investors of Central Directorate of National Savings, CDNS has been allowed direct membership of Clearinghouse (NIFT) with effect from January 12, 2017. 

2. Banks are advised to accept at their counters, the profit coupon / withdrawals slips pertaining to Pensioners Benefit Account (PBA), Behbood Saving Certificate (BSC) and Saving Account (SA) of CDNS. The banks are further advised to properly endorse the Coupons / Withdrawal Slips before submission of the same to NIFT for clearing.

3. In this regard, NIFT will prepare and submit two separate clearing batches (Receivable and Payable) to SBP pertaining to settlement of receipts and payments of CDNS by 2 pm. Hence respective bank branches shall conclude the returns of CDNS inward by 11:30 am to allow sufficient time for processing and logistic movement.
 
4. In case of any queries, please contact Mr. Jamil-ul-Haque, General Manager NIFT Tel: 021-32629665 or at jamil@nift.com.pk and Mr. Muhammad Ali, Joint Director (Tel:021-32453402 or at muhammad.sario@sbp.org.pk

5. Please acknowledge receipt.


Yours sincerely,

Sd/-


(Syed Sohail Javaad)
Head of Department



       
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