SBP rebuffs news regarding 18 undeclared PTI bank accounts

KARACHI: State Bank of Pakistan (SBP) categorically denied a news item, which attributed the central bank of reporting “at least 18 undeclared bank accounts of Pakistan Tehreek-e-Insaf (PTI) to the Election Commission of Pakistan”.

In a statement on Thursday, SBP stated that it neither maintains the database of individual account holders nor possesses any related information thereof.

“The banks, being the custodian of customers’ information, may directly provide this information to various agencies, on a case-to-case basis, as per procedure laid down under the respective laws,” it said. “Therefore, it is out of the question that SBP has reported 18 undeclared bank accounts of PTI, out of total 26, to the ECP as reported by an English daily.”

In fact, during July 2018, ECP approached SBP seeking assistance in obtaining the bank accounts information of PTI from 2009 to 2013, as per the commission’s mandate enshrined in the Constitution of Pakistan and the Election Act, 2017.

SBP, while discharging its duties, advised all banks to provide the required information directly to ECP by due date, as per procedure laid down under the law.


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