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.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

PM Imran Khan inaugurates Green Line Bus

Karachi: On Friday, Prime Minister Imran Khan formally inaugurated the Green Line…

SBP: Biometric Verification necessary for buying $500 or more

The State Bank of Pakistan (SBP) has put another another limitation on…