The President/ Chief Executive

SBP Regulated Entities

Dear Sir/ Madam

Anti-Money Laundering, Combating the Financing of Terrorism & Countering Proliferation Financing (AML/CFT/CPF) Regulations

1. Please refer to SBP’s AML/ CFT/ CPF Regulations for SBP Regulated Entities (REs) as amended from time to time, particularly the instructions regarding dormant accounts.
2. In this regard, in order to provide further clarity regarding dormancy requirements and to simplify the dormant account activation process, SBP has decided to amend relevant provisions of the AML/ CFT/ CPF Regulations, particularly Definition-25 and Para-24 of Regulation-2 as provided in Annexure.
3. SBP REs are advised to ensure meticulous compliance of the given instructions and update their policies and procedures in light of the aforementioned instructions.
4. Please acknowledge receipt.