Question:

Does the grant of license by the State Bank to a bank tantamount to deposit guarantee?

by Guest22643222  |  1 year, 3 month(s) ago

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My father is a farmer and we belong to south; he wants to know does the grant of license by the State Bank to a bank tantamount to deposit guarantee?

 Tags: bank, deposit, Grant, guarantee, LICENSE, Tantamount

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  1. Banking Expert
    No, in Pakistan so far there is no express deposit insurance arrangements. State Bank of Pakistan is presently working on development of deposit insurance arrangements in Pakistan. The government owned banks have an implied guarantee for their depositors under the provision of Bank’s Nationalization Act, 1974.

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