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SC order not to affect Summit Bank depositors

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SC order not to affect Summit Bank depositors

KARACHI: The Supreme Court of Pakistan during the proceedings of Human Rights Case No. 39216-G of 2018 has made an Order dated July 8, 2018.

The instructions provided in the order in no way pertain to the regular operations of the Summit bank and affects the depositors money, says a Press release issued here by State Bank of Pakistan.

The said bank is working in normal manner and meeting its obligations towards depositors. All rumors circulating in the media, particularly social media, about the Summit Bank are baseless and misleading. The public in general and depositors of the Summit Bank, in particular, are advised not to pay attention to such rumors.

State Bank of Pakistan reiterates its commitment to safeguard the interest of depositors and stability of the banking system of the country. Further, it reassures that country’s banking sector is stable and strong.

The amount according to FIA sources is said to be black money gathered from various kickbacks, commissions and bribes. But despite these huge transactions, the bank authorities never reported them to the authorities concerned including FIA.

Supreme Court orders to place heads of three banks on ECL in fake accounts case
On Sunday, the Supreme Court ordered to place the names of heads of three private banks involved in the scam on the Exit Control List (ECL).
The order came as Chief Justice of Pakistan Justice Mian Saqib Nisar took notice of the slow pace of inquiry into the case. – NNI