State Bank of Pakistan Banking Services Corporation

A debt payable in Pakistan currency or any other currency is owing by a banking company by reason of a deposit, not being a deposit in the name of a minor or a Government or a court of law, at a branch of the banking company in respect of which no transaction has taken place and no statement of account has been requested or acknowledged by the creditor during a period of fifteen years are considered as unclaimed deposits.

In terms of Section 31 of Banking Company Ordinance 1962, all banks/DFIs in Pakistan are required to surrender to SBP all (fixed deposits, other deposits, cheque, draft and bill of exchange) deposits which have not been operated upon during the period of last fifteen years except deposits in the name of minor or government or court of law.