The State Bank of Pakistan (SBP) has exempted certain types of deposits from the Minimum Profit Rate requirement specified in circulars issued over 10 years ago.
“Please refer to BPRD Circular No. 05 of 2014 dated May 27, 2014 and BPRD Circular No. 07 of 2013 dated September 27, 2013 on the above subject,” the bank said in a circular today.
The minimum rate of return on saving deposits shall not be applicable to the deposits of financial institutions, public sector enterprises, and public limited companies.
The above instructions shall be effective from January 01, 2025. All other instructions on the subject shall remain unchanged, the bank added.
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