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Students shouldn't pay service charges
KARACHI, March 15(Daily Times): The State Bank of Pakistan advised all banks in the
country Wednesday against levying any service charges for the collection of fees
from students of educational institutions in any manner whatsoever.
"It
has come to our notice that some of the banks are recovering service charges
from students of educational institutions for the collection of their
educational fees," an SBP circular said. "Since the collection of school fees by
the bank is the deposit of money on account of its client i.e. the educational
Institution, the recovery of any charge from the students is not justifiable."
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