March 15, 2007	Thursday	Safar 25, 1428

KARACHI, March 14: The State Bank has asked banks not to charge students for the collection of fees. The State Bank issued a circular on Wednesday with concerns that some of the banks were recovering service charges from the students of educational institutions for the collection of their fees.

“Since the collection of school fees by the bank is the deposit of money on account of its client i.e. educational institution, recovery of any charge from the students is not justifiable,” said the SBP circular.

The State Bank advised all the banks not to levy any service charges for collection of fees from students of educational institutions in any manner whatsoever.