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Notification for Enhancement of Protected Deposit From Rs. 250,000/- to Rs. 500,000/-
 

Dear Customer,
Your deposit with us is now protected by the Deposit Protection Corporation (DPC) and enhanced from Rs. 250,000/- to the amount up to Rs.  500,000 per depositor per bank.
Please refer to the ‘Instructions on Deposit Protection Mechanism’, issued by Deposit Protection Corporation (DPC) vide its Circular No. 04 of 2018 dated June 22, 2018. Under Para 2(b) of said mechanism, an amount of Rs. 250,000/- (Rupees Two Hundred and Fifty Thousand) per depositor per bank was determined by DPC as the guarantee amount, also referred to as protected amount or protected deposit, for the protection of eligible depositors..
Under the provisions of section 7(1) of DPC Act 2016, the Corporation shall guarantee full payment of funds held in depositor’s account, up to an amount prescribed by the Corporation from time to time.
In order to enhance depositors’ confidence and support financial stability, DPC has decided to enhance the level of protected deposit from Rs. 250,000/- (Rupees Two Hundred and Fifty Thousand) to up-to Rs. 500,000/- (Rupees Five Hundred Thousand) per depositor-per bank with immediate effect.
For more details please visit DPC website www.dpc.org.pk or bank's own website i.e. www.icbc.com.pk/ICBC/DPC/2.htm
ICBC Pakistan Operations


(2021-09-21)
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