The federal cabinet on Friday approved the winding down of the SME Bank on the recommendation of the State Bank of Pakistan (SBP) while instructing to ensure the protection of consumers’ deposits. PM Shehbaz Sharif, chairing the meeting of the federal cabinet, instructed that the protection of the customers’ deposits should be ensured during the winding down process. It was decided that all of the bank customers would be paid Rs5.557 billion, in the first phase.
