Banks Fails to provide fresh currency notes on `Eid’ to Public
ISLAMABAD (Thursday, 25 August 201) : Commercial banks in twin cities of Islamabad and Rawalpindi reportedly are not providing fresh currency notes to the general public as a special Eid gesture despite strict instructions issued by State Bank of Pakistan (SBP) in this regard.
Every year in the month of Ramadan, the SBP issues fresh currency notes worth billions of rupees to the commercial banks for accommodating the general public and account holders of the respective banks on the occasion of Eid-ul-Fitr.
“I have come here to get fresh currency notes but the bank employees are refusing to give these fresh notes by saying that currently they have no fresh printed currency “, Anwar Ali an account holder of a bank said and added that on the occasion of Eid, children demand fresh notes as “Edi” therefore he was endeavouring to get them but he sees no hope to obtain the currency notes.
SBP spokesman Syed Wasim-ul-din when contacted told APP that the
Currency notes were available with all the branches of commercial banks and the banks are instructed to give the currency notes to its account holders as well as the visiting general public.
“If any person is refused the service by the any bank he should send a complaint to the SBP and strict action would be taken against the said bank”, he added.
He said that State Bank has started issuing the fresh currency notes to the commercial banks from August 6 and so far it had issued notes worth of Rs. 66.95 billion to the commercial banks.
Ahmad Zain, a visitor at a bank who had also been denied the fresh currency notes alleged that staff of the banks was involved in the business of currency notes and each packet of Rs.10 was available in the black market by paying extra Rs.100.
He said that this business was mostly active in the vicinity of Raja Bazar where brokers were involved in selling the new currency notes despite ban imposed by the SBP on sale of fresh currency notes.
The SBP spokesman said that the responsibility to stop selling of currency notes outside the banks does not fall on the SBP, but it is the responsibility of law enforcing agencies to punish the persons involved in sale of the notes in black.
(APP (Associated Press of Pakistan) News Report Published in “Business REcorder” on 28-8-2011)