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SBP advises Banks to ensure availability of ATM services during Eid-ul-Fitr holidays

ISLAMABAD: State Bank of Pakistan (SBP) has advised Commercial banks to meticulously comply with the central bank’s guidelines and instructions regarding management of ATM operations in order to ensure continuous availability of ATM services during Eid‐ul-Fitr holidays.

In a bid to instructs banks to ensure availability of ATM services and fresh currency notes to the public on the eve of Eid-ul Fitr, SBP hold a meeting last week with the Group Heads of Operations of all commercial banks.

The issues relating to deduction of Withholding Tax (WHT) on bank transactions were also discussed.

The meeting was co-chaired by Mr. Muhammad Ashraf Khan, Executive Director BPR Group and Mr. Qasim Nawaz, Managing Director, SBP-BSC along with other high officials of SBP and SBP-BSC.

According to the press release issued by SBP, banks were stressed to make adequate back‐up arrangements for ensuring availability of ATM services round the clock and put in place comprehensive operating procedures to timely resolve the cases of cash replenishment, breakdown of ATMs, Systems and Network problems etc.

SBP also highlighted that to meet the needs of general public on the eve of Eid-ul-Fitr, sixteen SBP-BSC field offices have started distribution of fresh currency notes to the public.

As a consequence of recent tax amendments, SBP advised banks to ensure that the WHT should not be deducted from such person (tax filers) that are not subject to this tax.

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