Deposit Protection Mechanism
The Deposit Protection Corporation, a subsidiary of the State Bank of Pakistan has launched “Deposit Protection Mechanism for Banking Companies” vide DPC Circular No.4 of 2018 dated, June 22, 2018, which is effective from July 01, 2018.
In this context, kindly note that as per section 7(1) of the DPC Act (2016), an amount up to Rs.250,000/- (Rupees two hundred fifty thousand only) per depositor per bank has been determined by DPC as the guaranteed amount. The referred guaranteed amount is the maximum limit up to which the depositor will be reimbursed in case of a bank’s failure.
(Terms & Conditions apply)
For further details, please visit us at any Al Baraka Bank branch or call at 111-113-442.
Circular 1, Notification of Board of Directors Click Here
Circular 2, Declaration of Commencement of Business of Deposit Protection Corporation Click Here
Circular 3, Member Institutions of Deposit protection Corporation Click Here
Circular 4, Deposit Protection Mechanism for Banking Companies Click Here