ISLAMABAD – The Qaumi Bachat Bank or National Savings Center’s IT system has been down for over a week and a half, bringing all new investments in savings schemes to a complete halt.
The ongoing technical failure has also caused a delay in the launch of digital prize bonds.
Reports said the breakdown has affected nearly 3.5 million account holders, including pensioners, who are now facing difficulties in accessing services.
Both the ATM cards and the mobile app for online transactions introduced by the National Savings Center are currently non-functional.
Additionally, the biometric verification system is also down, effectively suspending all new transactions and investments.
Officials at the National Savings Center have stated that technical teams are actively working to restore the system and expect it to be back online soon.
They clarified that regular payments to account holders are being made without interruption despite the system issues.
The National Savings Center had been preparing to launch digital prize bonds in denominations of Rs5,000, 10,000, 25,000, and 40,000, but this initiative is now delayed due to the IT system’s failure.
The extended outage has raised concerns among account holders and investors about the reliability and modernization of financial services provided by public institutions.
