State Bank of Pakistan has launched “Deposit Protection Mechanism for Banking Companies*” vide DPC Circular No.4 of 2018 dated June 22, 2018, which is effective from July 01, 2018.
Kindly note that as per Section 7(1) of the Deposit Protection Corporation Act, 2016, an amount up to Rs. 250,000/- (Rupees Two Hundred and Fifty Thousand) per depositor has been determined by DPC as the guarantee amount, which is subject to change from time to time.
For more details, please refer below State Bank of Pakistan circulars
- DPC Circular No. 01 of 2018 - Notification of Board of Directors
- DPC Circular No. 02 of 2018 - Declaration of Commencement of Business of Deposit Protection Corporation
- DPC Circular No. 03 of 2018 - Member Institutions of Deposit Protection Corporation
- DPC Circular No. 04 of 2018 - Deposit Protection Mechanism