The State Bank of Pakistan (SBP) has officially announced that all commercial banks and Development Finance Institutions (DFIs) have surrendered their unclaimed deposits to the central bank, covering the period up to December 31, 2023. These unclaimed deposits, often originating from inactive accounts, expired instruments, or balances untouched for years, are now under SBP custody and available for claim by rightful owners or their legal heirs.
The central bank’s recent notification outlines a clear and accessible process for individuals to apply for refunds. Anyone with a legitimate claim can now approach their respective banks to initiate the process of reclaiming their unclaimed funds. The deposits in question typically come from dormant savings or current accounts, fixed deposits, instruments such as pay orders or demand drafts, or other similar financial instruments that have not been operated for extended periods.
To assist claimants, SBP has also released a comprehensive list of unclaimed deposits online. Users can access this list by selecting the relevant year and financial institution. The available Excel files include essential details such as the branch name, account holder’s name, CNIC or passport number, province, address, and the amount held. This list can be searched easily using standard keyboard functions like ‘Ctrl+F’ to find specific information.
For those looking to reclaim these deposits, the process is structured and document-driven. Claimants must approach the original bank branch where the account or instrument was registered. In cases where the original branch is no longer operational due to closure or relocation, customers may approach the nearest branch of the same bank. If the bank has undergone a merger or acquisition, claimants should visit a branch of the acquiring institution. Official merger details are available on the SBP website to assist in this identification.
To initiate a claim, the applicant needs to submit a signed application with full account details, along with a valid copy of their Computerized National Identity Card (CNIC). In cases where the original account holder has passed away, legal heirs must provide a succession certificate from a competent court. If the claim is for a deceased person’s deposit of less than Rs. 100,000, an indemnity bond signed by all legal heirs—on a Rs. 100 non-judicial stamp paper—is required, accompanied by CNICs of the heirs and the death certificate of the account holder.
Once the bank verifies all documents, the branch manager will forward the request to the concerned department. The case is then submitted to the SBP, which, upon completion of due diligence, will refund the surrendered deposit to the bank for onward disbursement to the claimant.
This initiative reinforces SBP’s commitment to transparency, consumer protection, and financial accountability. Citizens are encouraged to review the available information and reclaim their rightful funds through the outlined procedure. For those unaware of dormant funds left behind, this is an opportune time to check the unclaimed deposits list and secure any forgotten financial assets.