List of Banks for Salary Disbursement –AG 24.09.2021

List of Banks for Salary Disbursement –AG 24.09.2021

In the realm of public service and government administration, the timely and accurate disbursement of salaries is of paramount importance. To streamline this process effectively, the Accountant General Punjab has specified a list of scheduled banks authorized for the payment of salaries to Government of Punjab employees. This directive, outlined in the office order No. Fl-Lab/Bank/CD/475 dated 24th September 2021, aims to ensure efficiency and reliability in salary transactions across the province.

Importance of Authorized Banks

The selection of authorized banks for salary disbursement is crucial for several reasons:

1. Security and Reliability: Scheduled banks are regulated and monitored by the State Bank of Pakistan, ensuring security and reliability in financial transactions.
2. Nationwide Coverage: These banks have extensive networks across Pakistan, facilitating convenient access to salary payments for government employees in urban and rural areas alike.
3. Compliance: By limiting salary disbursements to scheduled banks, the government ensures compliance with regulatory standards and financial best practices.

Approved List of Scheduled Banks

According to the directive issued by the Accountant General Punjab, salaries of Government of Punjab employees must be disbursed through the following 15 scheduled banks:

1. National Bank of Pakistan
2. The Bank of Punjab
3. Allied Bank Limited
4. Bank Alfalah Limited
5. Bank Al Habib Limited
6. Habib Bank Limited
7. Habib Metropolitan Bank Ltd
8. Standard Chartered Bank (Pakistan Limited)
9. MCB Bank Limited
10. NIB Bank Limited
11. Soneri Bank Limited
12. United Bank Limited
13. Askari Commercial Bank
14. Meezan Bank
15. Faysal Bank

Clarity on Pension Disbursement

The directive also provides clarity regarding pension disbursement, specifying that pensions may be disbursed through any scheduled bank. This flexibility ensures that pensioners can choose a bank of their convenience while adhering to the guidelines set forth by the Finance Department (FD) through letter no. FD (W&M) 1-153/2011 dated 20th April 2020.

Implementation and Compliance

To implement this directive effectively, it is imperative for all District Accounts Offices (DAOs) and relevant stakeholders to adhere strictly to the approved list of banks for salary disbursement. This includes timely coordination with the designated banks to ensure seamless processing and distribution of salaries to government employees.

Conclusion

In conclusion, the list of scheduled banks authorized for salary disbursement by the Accountant General Punjab underscores the commitment to efficient public service delivery. By standardizing the banks through which salaries are disbursed, the government aims to enhance transparency, reliability, and accessibility for its employees across Punjab. This measure not only ensures compliance with regulatory requirements but also reinforces trust and accountability in financial transactions within the public sector.

For more information on the authorized banks and the disbursement process, concerned stakeholders are encouraged to refer to the official directives issued by the Accountant General Punjab and maintain proactive communication with relevant authorities.