Proceeds from the sale of closed banks' properties are added to the pool of funds of these banks for distribution to creditors and uninsured
depositors in accordance with the rules on concurrence and preference of credits.
The low number of bank
depositors suggests that the financial system is not fairly developed and it will be not wrong to say that Pakistan is an undocumented economy.
This was the beginning of another long process as
depositors, unable to survive, fought to ward off creditors.
KARACHI -- The State Bank of Pakistan (SBP) on Friday launched the Deposit Protection Corporation (DPC) to provide protection for the
depositors in the event of a bank failure.
The burden is thus on the withdrawing
depositor to attest that the other joint
depositor is still living under pain of perjury if it turns out that the statement is untrue, since the attestation is deemed under oath.
Summary: New Delhi [India], Jan 3 (ANI): Following media reports on bail-in provisions under the Financial Resolution and Deposit Insurance (FRDI) Bill, 2017, Department of Economic Affairs Secretary Subhash Chandra Garg on Wednesday claimed that these provisions would not be applicable to around 98 percent of
depositors.
Protection Corporation Bil-2016' says the deposit insurance is considered an integral safety-net tool to ensure the soundness of the banking system and protect small
depositors of a bank in case of its failure.
According to SBP the decision was taken in order to protect the interest of
depositors and other stakeholders and due to financial health and other circumstances of KASB Bank Limited.
The new
depositor, which replaces a two-component model, can make sophisticated confectionery with features such as stripes, swirls, centre-fillings and layers.
where [S.sub.i] denotes
depositor i's private signal of investment return.
When the
depositor deposits a will, he will receive a receipt of deposit.