KARACHI: The State Bank has provided a major facilitation to persons with ‘mental disorder’ by allowing them to open bank accounts through a well-defined account opening process.
“For the first time in Pakistan, mentally disordered persons will be able to open a bank account under a new category of customers account namely ‘mentally disordered person account’ introduced by the SBP in its Anti Money Laundering regulations,” said a press release issued by the SBP on Tuesday.
The State Bank has advised all banks to facilitate mentally disordered persons by allowing them to open and maintain bank accounts with the help of a court-appointed manager as per the applicable laws related to mental health.
The account opening process will include presentation of valid identity documents and biometric verification through the National Database and Registration Authority of a mentally disordered person and his/her court-appointed manager. Moreover, bank will verify certified true copy of court order to ensure authenticity of the appointed manager.
Published in Dawn, June 9th, 2021