Dead account

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It could only happen in our blessed land that dead men come back alive to open a bank account! This may be a record of sorts. It, however, speaks volumes about the ‘vigilance’ practised by our banking system that see account holders subjected to cumbersome biometric verification before opening an account. The interesting fact is that no names of the banks involved in such shady transactions are made public.

Even the statements of the affectees are edited in a way that bank name remains hidden. So much could be clearly read between the lines but, as usual, the gawky headlines are paid heed to and the substance is carefully controlled. It is a funny way of proving money-laundering because the ultimate beneficiary is not identified though there are hints galore.

It should, however, be noted that casting aspersions on the entire banking system may prove detrimental to its credibility. At the moment more than seventy percent of the people of Pakistan have no recourse to the banking facilities and if their credibility is impugned, people may stay away from opening their accounts.

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