KARACHI: Following the directives of the federal government, the State Bank of Pakistan has opened “Prime Minister’s Relief Fund for Gaza and Lebanon” account for collection of donations to the Fund.

The SBP has also instructed all the commercial and microfinance banks to receive donations in cash, through cheques, pay orders, demand drafts and banker’s cheques, etc, at all their branches across the country for onward credit to abovementioned account.

Last week, the government of Pakistan notified establishment of a relief fund, to extend maximum humanitarian support to people of Gaza and Lebanon. The Fund will accept donations both from domestic and international sources for the aforesaid purpose.

PM’s Relief Fund for Gaza, Lebanon notified

The Fund will be administered by the National Disaster Management Authority (NDMA) while the Accountant General Pakistan Revenue will maintain accounts of the Fund.

In this regard, the SBP has opened a dedicated account for collection of funds and donors have been provided multiple options for making donation to the Fund.

For domestic donations, donors and contributors may make their donations to the fund in cash at any branch of any bank operating in Pakistan, which will transfer the amount collected either through Raast or RTGS to SBP. Similarly, donations may also be made at any of the field offices of the SBP Banking Services Corporation.

The donors may make their donations to the Fund by dropping crossed cheques in the name of the Fund in their respective bank’s drop-box.

The SBP has asked the banks to make available drop-box facility at their selected branches for donors where they may drop their crossed cheques in favor of the Fund. The banks shall, accordingly debit the customer’s account and transfer the donation through Raast.

In addition, banks will mandatorily provide the option for collecting donations through Raast ID via their internet banking, mobile banking apps and mobile wallets app. Bank will also remove all limits on such transfers.

For overseas donations, overseas donors including overseas Pakistanis may donate to the Fund through wire transfer in the Fund account maintained with their respective bank. Bank will provide their IBAN &routing details for receiving donations.

The banks will transmit the consolidated amount of donations received in the Fund account to SBP on daily-basis through RTGS.

Copyright Business Recorder, 2024