Saturday, September 25, 2021

Provision of Account Opening for Mentally Disordered Persons- AML/CFT/CPF Regulations SBP

With the reference  to SBP’s orders regarding possible financial structure for differently-able people as issued and amended from time to time. 

2.   In order to address issues faced by mentally disordered people; State Bank Of Pakistan in consultation with stakeholders has planed to provide facility to mentally disordered people with regard to opening and maintaining a bank account as per the applicable laws related to mental health in best possible manners.

3.    In connection to new category of client account i.e. ‘mentally disordered person account’ has been introduced and the related requirements have been made part of Annexure-II of the AML/CFT/CPF Regulations.

4.    All SBP REs are instructed to make it sure to faithful and strict compliance with the provided instructions and provide complete guidance to their clients so that the ‘court-appointed managers of the mentally disordered persons’ do not face any difficulty in this regard.


Source: https://www.sbp.org.pk/bprd/2021/CL20.htm

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