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Senior citizens allowed investment in national savings on expired CNICs

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KARACHI: The Central Directorate of National Savings (CDNS) has directed its zonal offices to adhere the policy of the central bank regarding facilitating senior citizens above age 65 years in making investment on expire Computerized National Identity Cards (CNICs).

The CDNS said that certain queries had been raised regarding validity of CNIC of citizens aged 65-year and above on making investments.

The national savings circulated a notification that State Bank of Pakistan (SBP) through a letter dated October 10, 2018 had informed that expired CNICs of senior citizens aged 65 years and above were accepted by all offices of SBP Banking Services Corporation.

Furthermore, through letter dated June 09, 2009, SBP issued instructions to all the banks and Development Financial Institutions (DFIs) that “Banks/DFIs shall be allowed to open an account on expired CNIC in case prospective customer is a senior citizen having age of 65 years or above.”

The CDNS in this regard issued directives that all the controlling officers/zonal heads, National Savings to ensure that NSCs under their administrative control adhere to the policy in letter and spirit, so that valued investors may not suffer inconvenience in the matter.