Circulars/Notifications - Banking Policy Department  
 BPD Circular No. 30 of 2005
November 29, 2005 

The Presidents/Chief Executives,
All Scheduled Banks

Dear Sirs/Madam,


AIn order to facilitate and provide basic banking facilities to the low income people in Pakistan, it has been decided that all commercial banks operating in Pakistan will introduce Basic Banking Accounts (BBA) facility with the following features:-

a. The minimum initial deposit will be Rs 1000.
b. Will be non-remunerative account.
c. No limit on minimum balance. In cases, where balance in BBA remains ‘nil’ for a continuous six-month period, such accounts will be closed.
d. No fee for maintaining BBA.
e. Maximum two deposit transactions and two chequing withdrawals are allowed, free of charge, through cash/clearing per month.
f. Unlimited, free of charge, ATM withdrawals from the banks’ own ATMs. In case of withdrawal from BBA through the ATM machines of other banks, the respective/other bank may recover charges for such transactions.
g. For the existing banking accounts, banks may get the consent of all their customers whether they wish to maintain a BBA with them or a regular full service banking account with its accompanying terms and conditions. In case an account holder does not give his/her consent for a BBA, his/her account will be treated as a regular full service banking account.
h. Statement of account will be issued once in a year.

2. The above features represent the minimum set of services which the banks shall provide to their BBA customers. The banks are, however, free to add more services, if they wish. The banks are also free to charge, as per their existing policy, for any service/transaction over and above the minimum set of services of a BBA, if they wish.

3. All the banks are advised to introduce and publicize the above facility and report compliance to SBP latest by February 28, 2006. Any violation of the above instructions shall invoke penal provisions under Banking Companies Ordinance, 1962.

4. The above instructions will be applicable on Basic Banking Accounts (BBA) only.

Yours truly,


(Syed Irfan Ali)
Sr. Joint Director

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