LAHORE: The State Bank of Pakistan (SBP) has been urged to address issue of KASB Bank on urgent basis as depositors are in deep trouble due to seizing of their accounts.
All Pakistan Paper Merchants Association (APPMA) leaders Khawaja Nadeem Saeed Wain, Khamis Saeed Butt and Muhammad Ajmal, in a joint statement here, said that most of the account holders of KASB Bank were business doing people and after seizing of their account, they were facing massive financial crunch.
The APPMA leaders urged the State Bank of Pakistan Governor to revisit the affairs of all other smaller banks that failed to increase their capital according to its (SBP) regulations.
Khawaja Nadeem Saeed Wain urged the Federal Finance Minister to take notice of the situation and worries of KASB Bank account holders and ensure early reimbursement of their deposited amounts.
It is pertinent to mention that the SBP imposed 6-month moratorium on KASB bank in November 2014.
