Facilitating students going abroad: banks told to expedite account verification process

The State Bank of Pakistan has advised commercial banks not to charge any processing fee for verification of accounts/statements submitted by students who are desirous of proceeding for studies abroad.
According to a Circular (BPRD Circular No 6) issued on Monday, commercial banks had been advised to expedite the verification process by appointing designated co-ordinators in Islamabad, Lahore and Karachi, duly authorised to facilitate the process of requests of verification of bank account/statement expeditiously received from Foreign Missions, Embassies/High Commissions and any other relevant office for visa purposes.
Banks have also been asked to provide the names and contact details of nominated persons to SBP within 15 days for onward transmission to the Ministry of Youth Affairs. The circular said that the process of verification shall be made in writing and the banks shall not entertain any verbal/oral query made by visa processing agency or Foreign Mission. Similarly, the request received shall be disposed of, accordingly within seven working days from the date of its receipt, it said and added that the banks shall not charge "processing fee" under any head for above verification from the accountholder/customer either directly or through debit to his account.
These fresh directives have been issued by the State Bank following observation that Pakistani students desirous of proceeding for foreign studies face difficulties in obtaining visa due to uncertain verification system of their bank account/statement.