In order to facilitate the general public, the State Bank of Pakistan (SBP) on Monday allowed banks/ Development Finance Institutions (DFIs) to open accounts on the basis of National Database and Registration Authority (Nadra) receipt/token in case of expired Computerised National Identity Cards (CNICs).
Earlier, banks and DFIs were bound to open bank account on the basis of valid CNIC, however it was creating some problems for the opening of new bank account as Nadra requires maximum 45 days for issuance of new or renewed CNIC. During the course of time, if some body wants to open an account, following the SBP directives the banks were refusing to open new account. The SBP also received several requests in this regard.
Therefore, with a view to facilitating the general public, the State Bank has decided to allow the opening of account on the basis of attested copies of Nadra receipt/token and expired CNIC, provided all other requirements of account opening under Prudential Regulation M-1 are complied with, says BPRD Circular Letter No 20 of August 29, 2011.
However, banks/DFIs will obtain copies of renewed CNICs of such customers within three months of the opening of accounts, the circular said, adding that for CNICs which expire during the course of the customer's banking relationship, banks/DFIs are advised to make use of system alerts and regularise their accounts as already advised.
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