State Bank instructs commercial banks to open mosque accounts

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State Bank of Pakistan has written a letter to the heads of banks asking commercial banks to open mosque accounts.

According to the statement of the State Bank, the stakeholders have expressed concern over the non-opening of accounts of mosques.

The statement said that the trend of not opening accounts is a barrier to financial inclusion and documenting the economy.

The central bank of Pakistan says that banks are directed to provide a level playing field.

The State Bank’s announcement said to open accounts of bank trusts, societies and associations etc.

In the statement, State Bank further said that commercial banks should open accounts of non-government, non-profit making and charities.

The State Bank of Pakistan through a notification has also directed the commercial banks to advise the unregistered mosques to get registered.

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