KARACHI: The State Bank of Pakistan (SBP) on Saturday issued several options to donate to the Prime Minister’s Flood Relief Fund 2022.

The central bank said the government has notified the establishment of a flood relief fund, namely the Prime Minister’s Flood Relief Fund, 2022, to provide relief and rehabilitation to the affected population due to torrential rains and flash floods in many parts of the country.

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The Fund will accept donations/contributions from national and international sources for the above purposes. The Fund will be administered by the National Disaster Management Authority (NDMA) while the Revenue Accountant General of Pakistan will maintain the accounts of the Fund.

In this regard, the SBP has opened the “Prime Minister’s Flood Relief Fund Account, 2022” for collecting donations/contributions to the Fund.

All commercial and microfinance banks will open the Fund account and receive donations/contributions in cash, checks, money orders and demand drafts, at all their branches across the country. Donors have several options to donate/contribute to the Fund as described below:-

A. Foreign donors:

Bank transfer:

Foreign donors, including Pakistanis abroad, can donate to the Fund by bank transfer to the Fund’s account maintained with their respective bank. They would simply advise their respective banks to pass the donation amount into the fund account by debiting their accounts. Banks must transmit daily the consolidated amount of donations received in the Fund’s account to the SBP through the “Real Time Gross Settlement” (RTGS) system.

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Transfer via money service offices, money transfer operators and exchange houses:

Foreign donors may also donate/contribute through Money Services Bureaus (MSBs), Money Transfer Operators (MTOs) (e.g. MoneyGram, Western Union) and Exchange Houses (EHs) in accordance arrangements in place to receive home remittances. The banks that receive these installments on the Fund’s account transfer the consolidated amount daily via RTGS to the SBP.

B. National Donors:

Cash deposits at bank counters:

Donors and contributors can make their donations/contributions to the fund in cash at any branch of any bank operating in Pakistan, which daily transfers the consolidated amount of such donations to the fund account at SBP via RTGS. Similarly, donations/contributions can also be made at any of the SBP Banking Services Corporation field offices.

Deposit of crossed checks in the name of the Fund in the Bank’s deposit boxes:

Donors and contributors can make their donations/contributions to the Fund by depositing crossed checks in the name of the Fund in the deposit box of their respective bank. All banks are required to provide donors with a drop box at their selected branches where they can deposit their crossed checks in favor of the Fund. Banks must therefore debit the customer’s account and transfer the amount of these products daily on a consolidated basis via RTGS to the SBP.

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Alternative distribution channels:

The donor may also use other delivery channels, e.g. internet banking, mobile banking, Automated Teller Machines (ATMs) and mobile wallets, etc. Commercial and microfinance banks must prominently display the Fund’s IBAN on their websites.

3. Banks should keep individual donor details i.e. donor name, amount of contribution, method of payment etc. with them and should be made available to SBP in if needed. Please acknowledge receipt.

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