Banks Impose Fees on Large Deposits to Counter Cash Surplus and Avoid Tax Penalties
In a significant development, leading Pakistani banks, including Bank Alfalah, Meezan, MCB, HBL, and Standard Chartered, have implemented fees on large deposits to manage their cash flow and evade hefty government taxes. Starting November 21, these banks now levy a monthly 5% fee on deposit balances exceeding their designated thresholds, which range between Rs1 billion…
View details