It is reported that the commercial banks of Pakistan started taking action against the unverified bank accounts and these bank accounts are blocked now, which their branches were maintained for many years. Blocking of Unverified Accounts Start by Banks.
Now this exercise is started to block the bank accounts after the conclusion of the biometric verification of the account holders over past seven months. The unverified bank accounts have been blocked from debited and it means that the withdrawal of the amount from these blocked bank accounts is not possible now. The accounts, which are verified after the biometric verification, they are still working and the transaction of amount is possible there.
The instructions were not issued to block the bank accounts, which remained unverified through NADRA biometric process and the banks have to block or monitor suspicious transactions and bank accounts. The central bank did not issue the instructions to the commercial banks to block the accounts after dead line but the banks were asked to adopt the corrective measures by complying with the rules and regulations to maintain the bank accounts of the customers.
SBP issued instructions that SBP will review biometric verification process of the bank accounts and the banking companies will be penalized, which maintain accounts, they will be considered as illegal, unverified, fake or unnamed.
Such bank accounts, which biometric verification have not been done or they belong to the overseas residents, deceased, patients, joint account holders or the accounts, which lack with supporting documents including source of income or CNIC can be restored after the completion of their required documents and the biometric verification by the account holders.