dams-fund

Supreme Court of Pakistan in its recent ruling, directed the State Bank of Pakistan to establish an account to collect donations in order to build two dams in the country named as Diamer Bhasha and Mohmand. In response, the account titled “Supreme Court of Pakistan Diamer Bhasha and Mohmand Dam Fund” has been set up at the central bank.

sbp-account

Click here to view current status of the Fund.

How to Contribute

The Supreme Court of Pakistan has issued a public notice describing procedures of contribution. The apex court also made it clear  that the contributions made to the Fund are to be treated as contributions towards charitable purposes and will not be subject to any tax/duty whatsoever. 

Donations from Inland

The donation/contribution methods are being described here for the ease of donors around the glob:

a. Banks’ Counters

Currently, the donations are being made at all branches of the State Bank of Pakistan, all treasury offices and branches of National Bank of Pakistan as well as all commercial and microfinance banks in Pakistan. The donors may deposit their donations at any branch of the above banks throughout the country.

Each donation/contribution collected by the above mentioned banks is settled separately with the SBP through Pakistan Real-time Settlement System (PRISM) via MT-103 within 30 minutes of its receipt; the MT-103 message shall include the name of donor and amount of his/her donation/contribution. The microfinance banks, which are not PRISM member, settle their transactions through their respective head office with the nearest SBP Office.

b. Alternate Delivery Channels( ADCs)

All commercial and microfinance banks operating in Pakistan have also allowed their  customers to make donations/ contributions through internet banking, Automatic Teller Machines (ATM) and other Alternate Delivery Channels (ADC). For the purpose, banks are advised to prominently display the IBAN of the Fund at their websites and ATM screens, besides sending the same to their clients through SMS alerts.

c. Donations through SMS

In order to facilitate general public to be part of the national fundraiser, the cellular companies have also established an SMS-based service where subscribers can donate an amount of Rs. 10 by sending a simple SMS from their mobile phones.

donations-through-sms

Mobile phone users have to type ‘Dam’ and send an SMS to 8000. An amount of Rs. 10 will be deducted for ‘Supreme Court of Pakistan Diamer Basha and Mohmand Dam Fund’. The users will receive a confirmation SMS with the notation of ‘App Ka Dus Rupey Supreme Court of Pakistan Dam Fund main denay ka Shukria’.

The apex court held that the amount received by the telecom companies will be transferred on daily basis to the Fund with the State Bank of Pakistan. All four cellular mobile phone companies have been ordered to display the amounts received by them and transferred to the Fund account on daily basis on their websites.

d. Branchless Banking

The commercial and microfinance banks offering Branchless Banking (BB) have allowed their BB agents network to collect donation/contributions in cash only against proper receipt in electronic or paper form duly confirmed by the SMS alert.

The cash so collected by the BB agents shall be directly credited to the Fund’s account at commercial or microfinance bank with whom the agents are attached. The receipts of the Fund shall not be subject to regulatory transaction limits and no charges shall be recovered from the donors/contributors.

Donations from Abroad

The overseas Pakistanis may contribute in the Fund through any of the following options:

a. Wire Transfer to SBP Nostro Account with NBP, New York

The overseas Pakistanis having bank account abroad may contribute in the Fund through wire transfer/swift message. For the purpose, they would request their respective banks to remit the funds in US Dollars to the SBP Nostro account with NBP, New York; the particulars of which are as given below:

  • Name of Payee: STATE BANK OF PAKISTAN
  • Payee’s Address: I.I. CHUNDRIGAR ROAD, KARACHI, PAKISTAN
  • Payee’s SWIFT Code: SBPPPKKA ABA
  • Routing Number: 026004721
  • Bank Name: NATIONAL BANK OF PAKISTAN
  • Bank Address: NEW YORK, U.S.A
  • Payee’s Account No: 55854560
  • Bank SWIFT Code: NBPAUS33

b. Transfer through MSBs, MTOs and Exchange Houses

The banks have been allowed to receive donations/contributions to the Fund through Money Service Bureaus (MSBs), Money Transfer Operators (MTOs) and Exchange Houses (EHs) in line with the arrangements in place for receiving home remittances.

The overseas Pakistanis may, therefore, remit their donations/contributions through aforesaid channels to the Fund account, being maintained at any of the commercial or microfinance bank in Pakistan. Click here to view their respective IBANs.

c. Deposit of donations at Pakistan Missions and Embassies Abroad

The overseas Pakistanis may also deposit their contributions with Pakistan Missions and Embassies in their relevant country. The Ministry of Foreign Affairs has already issued necessary instructions in this regard. The donations so collected will be repatriated through SBP Nostro account(s), for onward credit to the Fund account.

d. Direct Deposit at Branches of Domestic Banks Abroad.

The commercial banks having overseas branches are also authorized to collect donations/ contributions towards Dams Fund. The contributions tendered at such branches  are reported to the head office of respective bank on daily basis, whereas, the settlement of funds between the overseas branches and their respective head office is made on weekly basis.

The head office converts the funds so received into PKR at the prevailing interbank market rate and transfers the PKR funds to SBP. The head office also provides a breakdown of the amount in terms of each donor’s contribution through email at the address donations.dams@sbp.org.pk.

e. Transfer through Debit/Credit Cards

The donors can also make their donations /contributions to the Fund through their debit/credit cards, for which purpose they may visit SBP website. The transactions executed through debit/credit cards are settled by the acquiring bank in accordance with the frequency as may be agreed between the SBP and the bank.

The central bank has also waived off all services charges of debit and credit cards on the collection of donors of dams’ fund.

Update

Following the recent speech of Prime Minister Imran Khan on September 7th, State Bank of Pakistan has decided to rename the title of the Fund account with the “Prime Minister and Chief Justice of Pakistan Diamer Basha and Mohmand Dam Fund.”

The central bank has accordingly issued a circular to all commercial and microfinance banks to change the title of the Fund account in their systems and books of accounts. The respective account number and IBAN of banks shall, however, remain the same and the banks shall continue to collect donations and settle the same with SBP as per existing arrangements.

Be part of this national cause today.