Islamabad: The State Bank of Pakistan (SBP) recently announced the suspension of the 0.12% service charges on the deposit of re-issuable balances at SBP Banking Services Corporation Offices or the National Bank of Pakistan-Chests Branches — a news source reported.
According to the details shared by the central bank, the move is expected to help the banks in managing excess liquidity as a result of the large number of withdrawals due to the recent Eid holidays and the ongoing coronavirus pandemic. This suspension in service charges will remain in place for a year — until June 30, 2021.
In a related development Governor SBP Dr Reza Baqir had held a meeting with the banks on Wednesday. The meeting discussed the measures introduced by the Naya Pakistan Housing and Development Authority — with housing finance one of the major discussions of the session. Dr Baqir had urged the banks to look favourably towards housing finance since it remained underutilised in the country and could prove critical to Pakistan’s economy.
