Regulatory Alerts2026-02-17 | BPRD Circular Letter No. 03Added · Updated
Deduction of Zakat at Source in Respect of Saving Bank, Profit & Loss Sharing and Similar Bank Accounts (Asset Code No. 101) and Deposit Thereof Immediately After Deduction Date
BPRD Circular Letter No. 03 directs the Presidents and Chief Executives of all Banks, DFIs, and MFBs to take necessary action and comply with Notification No. CE-1001(36)/NISAB/1446-47/2026-48 issued by the Ministry of Poverty Alleviation & Social Safety, Government of Pakistan. The notification, dated February 16, 2026, concerns the deduction of Zakat at source in respect of Saving Banks, Profit & Loss Sharing, and similar bank accounts identified by Asset Code No. 101, as well as the deposit of such amounts immediately after the deduction date.
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