SBP’s directive

KARACHI: The State Bank of Pakistan (SBP) on Friday directed the financial institutions to deactivate all unwanted accounts on SBP’s data acquisition portal (DAP).

“It has been observed that certain DAP users in some institutions have either left or retired but their user accounts still exist in DAP,” the central bank said in a notification.  

“It is also observed that certain user accounts are being used by other users.” 

The SBP provided DAP to all the financial institutions for online submission of various statements.

“A user management module is also available for administrator level users for managing user accounts,” said the notification.

“All reporting institutions are advised to verify the access rights of all users. In addition, usage of one’s user-id by someone else must be prohibited,” it said.  “The central bank directed the banks to complete account verification activity within 15 days.”