PTI government has a good news for Overseas Pakistanis

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PTI government has a good news for Overseas Pakistanis

ISLAMABAD - To ease the difficulties faced by overseas Pakistanis, the State Bank of Pakistan (SBP) has issued detailed instructions to facilitate them in operating their bank accounts.

“As per alternative arrangement, overseas Pakistanis may now approach their respective banks through email/surface mail and provide identity documents like valid passport, visa, CNIC and National Identity Card for Overseas Pakistanis [NICOP] as an alternative arrangement for biometric verification for operating their bank accounts as usual," stated the SBP.

Highlighting the Circular Letter No. 16 of 2019, the central bank stated that customers who fall under the definition of NRP [Non Resident Pakistani], the bank/ DFI may obtain a signed undertaking from the customer containing the customer's NRP status along with proof, copy of valid ID document (CNIC/ NICOP) and the account number(s) of the customer's account(s) maintained with the bank as per customer record

The customer would also give the undertaking to inform the bank of any change in residency status. For such customers, as an alternative to biometric verification, the bank/DFI may conduct fresh NADRA Verisys using the information provided by the customer.

Meanwhile, for Pakistani residents temporarily outside the country, the bank/DFI may obtain reasonable evidence/ proof from the customer regarding his/her absence from the country (i.e. copy of valid passport, visa, exit stamp, resident permit, etc.) and the expected date of return.

For such customers, as an alternate to biometric verification, the bank/ DFI may conduct fresh NADRA Verisys using the information provided by the customer.

“The arrangement has been made in line with State Bank's continuous monitoring of the progress of the banking industry with respect to biometric verification; and it has been reiterated to banks for extending their fullest cooperation to their overseas customers," stated SBP.