This special facility has been allowed to enable the people from the affected areas to open a bank account to receive and deposit their quake relief cheques that would be given to them in the form of 'A/C Payee Only'.
But the SBP has asked the commercial banks to open accounts of adults on identification/introduction and verification by the Relief Commissioner or any other authorised officer.
Then the forms should be attested by any two of the following: Patwari of the area; Any government official; Member of Legislative Assembly; Member of Union Council; Postmaster and Postman; and any other elected representative of the area.
The accounts of minors, who have lost their parents and have no legal guardians, may be opened on identification and verification by the Relief Commissioner or any other authorised officials with the attested and identified photograph. The minor's consent for operating the account is also required before opening the account.
The accounts thus opened would accept only the crossed cheques from the Relief Commission and nothing else can be deposited in these accounts.
The SBP has reminded all concerned that this is only one-time exemption for the earthquake victims only, and the offer is valid up to June 30, 2006. New accounts may be opened after this period by completing the usual requirements of opening accounts as mentioned in para M-1 of the Prudential Regulations for Corporate /Commercial Banking.