After the speech of the prime minister of Pakistan, Imran Ahmed Khan, the State Bank of Pakistan decided to change the title of the fund account with the name of “Prime Minister and Chief Justice of Pakistan Fund for Diamer Bhasha and Mohmand Dam”.
The central bank has issued the directions to all commercial and microfinance banks to advise the change in title of the fund account in their systems and books of the accounts. The account number and IBAN of banks shall remain the same and the bank will continue to collect the donations and settle them with SBP according to their current arrangements.
Donations in Pakistan
The local Pakistani people can contribute in the Fund account through the different modes, which can be convenient and easy for them.
Counters of Banks
All of the commercial and microfinance banks in Pakistan and the field offices of SBP Banking Service Corporation are getting the donations at their counters in the network all over the country. The donors will have to deposit the money at their counters at any branch of the above banks. When the commercial and microfinance banks will collect the donation or contribution, it will settle separately with the SBP through Pakistan Real time Settlement System (PRISM) through MT-103 within 30 minutes of the receipt. The MT-103 issues the message to include the names of the donor and his amount of donation or contribution. The microfinance banks, who are not member of PRISM, they will settle their transactions through their head office with nearest SBPPSC office.
Alternate Delivery Channels (ADCs)
The banks are allowed to receive the donation or contribution from their respective customers through the internet banking, Automatic Teller Machines (ATM) and other alternate delivery channels (ADC). The commercial and microfinance banks will display the IBAN of the fund at their websites and the screens of ATM and also send the same to their clients through the SMS alerts. You can subscribe through the mobile phones and donate Rs.10 through SMS at 8000.
Branchless Banking
The commercial and microfinance banks offer the branchless banking (BB) and they are allowed to have BB agents network to get the donation or contribution as cash against the proper receipt in the electronic or paper form, which is duly confirmed by SMS alert. The cash, which will be collected by the BB agents, will be credited to account of the Fund at commercial or microfinance bank to whom, the agents are attached. There will not be the regulatory transaction limit for the receipt of the fund and no charges will be taken from the donors or the contributors.
Donation from Abroad
The overseas Pakistanis can contribute in the Dam fund through the options like Wire transfer to SBP Nostro account with NBP, New York and the overseas Pakistani, who have the bank account in foreign countries, can contribute in Fund through wire transfer / swift message. They can request to the respective bank to remit the funds in US dollars to SBP Nostro account and the particulars are given below:
Name of Payee: State Bank of Pakistan Payees
Address: I.I Chundrigar Road, Karachi, Pakistan payee’s swift code: SBPPPKKA ABA Routing Number: 026004721
Bank Name: National Bank of Pakistan, Bank Address: New York, USA
Payee Account No. 55854560Bank SWIFT Code: NBPAUS33
To get further and related information, the donors will provide the following information, which will be required to ensure the expeditious transfer of donations / contributions to Fund account with SBP:
- Name and full address
- Date of birth and place of birth
- Purpose of remittance: Contribution in fund for water reservoirs.
- Use of the account of the donor in the foreign country is must to remit the fund in SBP Nostro account.
Deposit of donations at Pakistan Missions and Embassies Abroad
Pakistanis, living in other countries may deposit their donations and contributions with Pakistani Mission in the concerned country. The Ministry of Foreign Affairs issued the necessary instructions and the donations will be repatriated through the SBP Nostro account to credit it onward to the fund account.
Transfer through Debit / Credit Cards
The donors can make their donations and contributions to fund through their debit or credit cards and they should visit the website of SBP for this purpose. The transactions, which are executed through the debit or credit cards, are settled by acquiring bank according to the frequency as it is agreed between SBP and the bank.
Facilitation for Donors
The donor drive should be promoted and the central bank has issued the directions to all commercial banks to advertise the details on print media and official social media account to create the awareness of public about the methods.
The central bank waved off the service charges of debit and credit cards on the collection of the donation from the donors regarding dam’s fund.