SBP stops banks from institutional investment in saving schemes

July 9, 2020

KARACHI : State Bank of Pakistan (SBP) on Thursday asked all commercial banks against institutional investment in saving schemes. The central bank said that the Central Directorate of National Savings (CDNS) on July 01, 2020 restricted participation of institutional investors in national saving schemes. In this connection, the SBP advised all authorized commercial banks to review the instructions contained in earlier issued letters and ensure that no institutional investment of any kind should be accepted in savings schemes dealt by banks i.e. special savings certificate (SSC) and defence savings certificate (DSC) on or after July 01, 2020. The SBP asked the banks to disseminate necessary instructions to their all authorized branches and concerned officials for information and strict compliance.

About the Author