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SBP makes arrangement for currency on Eid

byCT Report
02/07/2016
in Business
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KARACHI: State Bank of Pakistan has made special arrangements to facilitate public for cash requirements and banking related services during Eid ul Fitr holidays.

These measures are aimed at providing hassle free financial services to the general public during holy Ramazan, forthcoming Edi-ul-Fitr and the extended holidays.

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In order to ensure uninterrupted availability of ATM services on the occasion of Eid-ul-Fitr, SBP has advised all commercial banks to take necessary measures for facilitation of general public. The ATM sites of commercial banks will be examined by inspectors of State Bank and verification teams of SBP-BSC field offices during the period 1st July 2016 till 10th July 2016 to verify their operational status.

In view of the extended Eid holidays, banks have also been advised to intimate SBP BSC Field Offices, in advance, about the extra cash that they may need so that adequate arrangements could be made for replenishing their ATMs during Eid Holidays. Banks will also make certain that in addition to ATMs, continuous services are also available on Point of Sale (POS) and other Alternate Delivery Channels (ADC) Channels.

Banks have also been instructed to ensure that dedicated teams from commercial banks are available for timely resolution of ATM related complaints; contact numbers of banks’ Helpline are prominently displayed on ATM vestibules and advertised in print media for the facilitation of general public. Also, call centers of commercial banks will remain available 24/7 for quick redressal of all customer complaints.

Being cognizant of the needs of the public in general and business community in particular, SBP has already instructed all commercial banks to remain open on 2nd and 9th July for facilitation of the members of general public. Commercial banks will accept financial instruments from their customers on 2nd and 9th July 2016 for normal clearing only and National Institutional Financial Technologies (NIFT) is advised to collect them from branches of commercial banks.

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