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The State Bank of Pakistan (SBP) has confirmed that all unclaimed deposits in Pakistan up to December 31, 2023, have been surrendered by banks and Development Finance Institutions (DFIs). The central bank is now inviting individuals with legitimate claims to initiate the refund process through their respective banks.
According to SBP, the unclaimed deposits generally include dormant bank accounts, unclaimed financial instruments, or inoperative balances that have remained untouched for extended periods. Claimants can now apply for refunds by following a structured process laid out by the central bank.
How to Access the List of Unclaimed Deposits in Pakistan
To check if you have any unclaimed deposits in Pakistan, follow these steps:
- Select the unclaimed deposits list for the relevant year (e.g., 2023).
- Choose the concerned bank or DFI.
- Open the Excel sheet containing information such as Branch Name, Province, Account Holder Name, CNIC/Passport Number, Address, and Amount.
- Use the ‘Ctrl+F’ function on your keyboard to search for your name or account details.
Procedure to File a Refund Claim for Unclaimed Deposits
If your name appears on the list and you wish to claim your funds, follow these steps:
- Visit the branch of the bank where the account was originally opened or where the instrument was payable.
- If the original branch has closed or been relocated, approach the nearest branch of the same bank. In the case of bank mergers or acquisitions, visit the nearest branch of the acquiring bank. Relevant notifications are available on the SBP website.
- Submit a refund claim application with the following documents:
- Original signed application with account details.
- Copy of a valid CNIC.
- Succession certificate from a competent court (in case of deceased account holders).
For unclaimed deposits below Rs100,000 in the name of a deceased person:
- An indemnity bond on Rs100 non-judicial stamp paper signed by all legal heirs.
- Applications from all heirs along with CNIC copies and the death certificate of the account holder.
The branch manager will forward the complete case file to the relevant department for submission to SBP. After verifying the details, the SBP will refund the surrendered amount to the respective bank or DFI, which will then credit the amount to the claimant’s account.
SBP’s new initiative is expected to benefit thousands of individuals who were unaware of dormant funds under their names. By streamlining the process, the central bank aims to make it easier for citizens to recover their unclaimed deposits in Pakistan.
