SBP receives unclaimed deposits, refund claims open

June 24, 2025 (MLN): Banks and Development Finance Institutions (DFIs) have surrendered their unclaimed deposits up to December 31, 2023 to the State Bank of Pakistan. Claimants can apply for refund of their claims.

SBP has directed all banks and DFIs to surrender fixed deposits, other deposits, cheques, drafts, and bills of exchange that have remained unoperated for the past ten years, excluding those held in the name of a minor, the government, or a court of law.

A list of such unclaimed deposits is available on the SBP website, which can be viewed by selecting the relevant year and bank/DFI, as per the notice issued by SBP.

Account holders or their legal successors can claim refunds by approaching the concerned bank branch where the account was opened or, in case of closure or merger, the nearest relevant branch.

Claimants must submit an application with a copy of their CNIC. In case of a deceased account holder, a succession certificate issued by a competent court is required.

For claims below Rs100,000, an indemnity bond on Rs100 non-judicial stamp paper signed by all legal heirs, along with CNICs and death certificate, must be provided.

The bank will forward the case to SBP, which, after verification, will refund the amount to the bank for onward credit to the claimant.