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SBP allows opening of accounts for Afghan refugees

SBP allows opening of accounts for Afghan refugees

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On
Mar 02, 2019 - 10:41

PESHAWAR (Pajhwok): Pakistani banks and development finance institutions (DFIs) have been allowed to open accounts of Afghan refugees based on Proof of Registration (PoR) cards.

Issued on Friday, the State Bank of Pakistaninfo-icon (SBP) directives have paved the way for the refugees to avail banking services in the country, where many of them have been living for decades.

Abid Qamar, chief spokesman for the central bank, said:

 “Afghan refugees can now open bank accounts in Pakistan and this will be the first time they will get the banking services,”

Biometric verification of Afghan refugees holding PoR cards has been made available with effect from February 26 in an existing established link.

The verification service for refugees possessing the cards would work like the identity card verification system. Banks and DFIs will verify the identity of the refugees with PoR cards through the biometric verification system.

Pakistan has been included in the grey list of the Paris-based Financial Action Task Force (FATF), which seeks to eliminate terror financing and money laundering from the country.

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