KARACHI, Oct 19: The State Bank has taken notice of the fact that the banks and development finance institutions (DFIs) are indicating the expected rate of return in the account opening forms and in the deposit certificates/instruments which they are unable to pay.

As a result, "the dissatisfied customers lodge complaints with the SBP for intervening in the matter and arranging payment of profit at the expected rate of return," says a letter written by SBP to heads of banks and DFIs.

"In order to avoid any confusion it is clarified that while banks/DFIs may continue advertising their products including the indicative expected rate of return, they shall not mention, the expected rate of return either on the account opening form or on the deposit certificate/instrument itself."