Summary Businesses of many account holders are likely to get bankrupted due to the restriction
KARACHI (Dunya News) – The State Bank of Pakistan has restricted the dues and payments of the KASB Bank to three lacs for a period of six months for not meeting the minimum capital requirement.
The enactment of this decision was done on the night of November 14.
The account holders are facing problems in receiving even a payment of three lacs when the bank opened after a two-day weekly vacation.
The State Bank had written in its notification that 92 percent of the account holders would not be disturbed due to the new scheme of operations at the KASB Bank.
According to the details, KASB Bank has around 85,000 account holders with deposits worth Rs 62 billion.
As many as 12,000 account holders have more than three lacs deposits individually which in total amount to 59 billion.
Reportedly, there are many account holders whose businesses are likely to get bankrupt due to this new notification of the State Bank.
According to those account holders, they are paying for KASB bank’s low deposits, instead of the bank itself.
