People with “mental disorders” allowed to open bank accounts


For the first time in the country’s history, the State Bank of Pakistan (SBP) has provided major assistance to people with mental disorders by allowing them to open a bank account with the help of an appointed manager. by the court.

“People with mental disorders will be able to open a bank account in a new category of customer account, namely the“ account of people with mental disorders ”introduced by the SBP in its program Anti-Money Laundering, Combating the Financing of Terrorism and Countering Proliferation Financing (AML / CFT / CPF), “a central bank statement said on Tuesday.

He said the SBP has advised all banks to help people with mental disorders by allowing them to open and maintain a bank account with the help of a court-appointed official in accordance with applicable laws relating to to mental health.

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“The account opening process will include the presentation of valid identity documents and biometric verification through Nadra [National Database Regulatory Authority] as a person with mental disorders and as a manager appointed by the court.

In addition, the SBP said, the bank will check a certified copy of the court order to ensure the authenticity of the appointed manager. “All CDD (customer due diligence) requirements must be met for both people to comply with AML / CFT / CPF regulations,” he added.

It should be recalled that the SBP had previously taken several measures and initiatives in consultation with the banking sector for people with disabilities, such as paying particular attention to their employment and improving accessibility infrastructure such as ramps and wheelchair facilities. wheels in their branches.

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The official statement said the SBP has also made available subsidized financial facilities and credit guarantee programs for people with disabilities. “All of these steps are taken as part of a larger goal of improving financial inclusion in the country.”

He also said that the current step of the SBP as well as a comprehensive new financial inclusion policy for people with disabilities, to be unveiled shortly by the central bank, will pave the way for universal financial inclusion, including those marginalized segments.

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