Pakistan finance minister denies any SBP order to freeze MPs’ bank accounts

Pakistan’s finance minister told the Senate on Thursday that the central bank has not issued any instruction to block the bank accounts of sitting or former lawmakers.

Responding to a notice from Senator Jan Muhammad, Finance Minister Muhammad Aurangzeb said the State Bank of Pakistan had confirmed that no directive existed to freeze parliamentarians’ accounts. He said the only relevant circular was issued in July 2019 on politically exposed persons and did not contain any order to suspend or restrict accounts of MPs.

Aurangzeb said the SBP has appointed a focal person to deal with queries from lawmakers about their banking issues. He added that all commercial banks have been directed to nominate similar focal persons, and the nominations have now been completed.

The minister said these officials are responsible for guiding legislators, handling account-related complaints and coordinating with the central bank when required.

He said no discriminatory action had been taken against any former or current member of Parliament, adding that the SBP’s mandate is limited to regulating banks and ensuring compliance with standard procedures.