KARACHI: The State Bank of Pakistan (SBP) has advised all commercial banks and microfinance banks (MFBs) across the country to make it easier for Deeni Madaris to create bank accounts.
According to the central bank, the instruction applies to Madaris that have been properly registered with the appropriate authorities, notably the Directorate General of Religious Education (DGRE).
The SBP also advised banks to maintain seamless operations and compliance when providing this service.
Officials stated the action aims to promote financial inclusion and transparency in Deeni Madaris’ activities.
The SBP has also urged that the warning be widely distributed to increase awareness and execution.
