Pakistan Post directed to stop opening new savings accounts, certificates | Pakistan Today

Pakistan Post directed to stop opening new savings accounts, certificates

ISLAMABAD: In order to comply with the requirements of the Financial Action Task Force (FATF), a supervisory board has directed the Pakistan Post to stop opening new saving accounts or issuing any kind of saving certificates from November 16, 2020, sources told Pakistan Today.

A meeting of the board was held at the Ministry of Communications to discuss Pakistan Post’s compliance with FATF guidelines against money laundering and terror financing. The board expressed displeasure over the Pakistan Post’s performance in this regard, and directed it to stop opening new saving accounts and issuance of all kinds of saving certificates on its business counters until further notice.



One Comment;

  1. maqsood Jamal said:

    What about if any person having NTN and even have declared in Wealth tax statement such as cash/prize bonds, cannot purchase SSC/DSC/BSC through cross cheaque in favour of NSS. Please also clarify even banks of the account holder also cannot purchase any of the above. How long will NSS stop such purchases of certificates. As banks fully comply all the requiired laws suchs AML/KYC NTN etc.

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