Banks Hand Over Unclaimed Deposits to SBP – Here’s How You Can Claim Them

The State Bank of Pakistan (SBP) on Monday said all banks and DFIs have surrendered unclaimed deposits up to December 31, 2023. “Banks/DFIs have surrendered their unclaimed deposits up to December 31, 2023, to the State Bank of Pakistan. Claimants can apply for a refund of their claims,” the central bank announced. The SBP stated that individuals with legitimate claims to these funds can now apply for refunds through their respective banks. These deposits typically include dormant accounts, unclaimed financial instruments, or balances that have not been operated for extended periods. The account holders/successors of unclaimed deposit(s) who are desirous to file a refund claim of deposits, already surrendered to the State Bank of Pakistan by the banks/DFIs, are required to: The branch manager will forward the request with all relevant records to the quarter concerned for onward submission to SBP for the refund of the claim.  SBP, after due verification and process, will refund the surrendered amount to the respective bank/DFI for onward credit to the applicants.