To raise money for Turkiye, which was jolted by a 7.8-magnitude earthquake on Monday, the Pakistan government has established a relief fund named the “Prime Minister’s Relief Fund for Turkiye’s Earthquake Victims.”
The fund would take contributions from both domestic and foreign sources, according to a circular issued by the State Bank of Pakistan (SBP) on Wednesday.
The National Disaster Management Authority (NDMA) will manage the fund, and the Accountant General of Pakistan Revenue will keep the books.
According to a circular from the central bank, all commercial and microfinance banks are required to open accounts for the fund and accept donations in cash, check, payorder, and demand draught forms at all of their locations nationwide.
Cash donations from domestic donors are accepted at any branch of any Pakistani bank, and each day, the consolidated amount will be transferred via real-time gross settlement to the fund’s account at SBP.
Additionally, donations can be made through any of the SBP Banking Services Corporation’s field offices.
Additionally, banks have been instructed to provide a drop box facility at a few of their branches for donors who might want to drop off crossed checks.
Domestic donors can also make donations using the InterBank Fund Transfer Facility (IBFT) or Raast by using online and mobile banking, ATMs, and mobile wallets.
A wire transfer and money transfer services like MoneyGram and Western Union are available for international contributors to contribute to the fund in the meantime.
“Banks shall keep on file with them information regarding specific donors, such as the name of the donor, the amount of his or her gift, the mode of payment, etc., and shall make this information available to SBP as and when requested. The banks must also provide the NDMA with weekly updates on individual donors.