The State Bank of Pakistan (SBP) has extended the temporary suspension of 0.12 percent service charges on the deposit of re-issuable balances for commercial banks.

In order to facilitate banks in managing their excess liquidity, consequent to large volumes of withdrawals on the eve of Eid and the pandemic, the SBP has decided to extend the temporary suspension of 0.12 percent service charges on the deposit of re-issuable balances with the SBP BSC offices or NBP chests branches.

Accordingly, banks can deposit re-issuable balances with the SBP BSC offices or NBP chests without levy of 0.12 percent service charges on the deposit of re-issuable balances until 31 December 2021.

The banking regulator used to deduct 0.12 percent service charges on banks against the deposit of re-issuable balances with the SBP BSC offices or NBP chest branches.

Source: Pro Pakistani