Banks Informed Not to Accept Institutional Investment in Saving Schemes

State Bank of Pakistan (SBP) directed banks on Thursday about restrictions placed on institutional investments in savings schemes. The central bank said the National Savings Central Directorate (CDNS) limited institutional investor involvement in national saving schemes on July 01, 2020.

In this regard, the SBP advised all approved commercial banks to review the instructions contained in the above-mentioned letters and to ensure that banks did not allow any institutional investment of any kind in the National Savings Schemes (NSS).

Certificate of Special Savings (SSC)/Defence Savings Certificate (DSC) on or after July 01, 2020. The SBP requested the banks to circulate appropriate instructions down the line for information and strict compliance to all approved branches and officials concerned.

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