Askari Bank

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Limited Company Account

This account is for limited companies. In order to facilitate their transaction with outside parties, bank provides many facilities.

Documentation Required

  • Memorandum of Association.
  • Articles of the Association
  • Resolution of the Board of Director.
  • Certificate of Incorporation.
  • Certificate of commencement of business
  • N-I-C

Operation

The persons authorized in the Resolution of the Board of Directors put their signatures on S.S Cards. Next of kin "requirement "is not need in case of a Limited Company. After completing each and every formality, introducer signature is verified by S.S Card and is stamped "Verified" customer signatures are admitted by stamping "Admitting" near signature and again signatures on S.S card are admitted in the same way. The same process of verification and admission of the signatures is repeated on Form-A and next of Kin area.

After completing each and every formality, Accountant is open in the computer by writing name, address, A/C Number etc. 

Letter of the Thanks

At the start of the 2nd day, ACBL issues letter of thanks to "Account Opener" and "Account Introducer" for the trust they have on ACBL.

Cheque Book Issuing

Check books are issued only for checking account such as current Account, saving Account and ASDA Account. They are not issued for other fixed and term deposits because of their Long term Accounts “nature.”
Issuing Procedure

  • Signatures on cheque – book requisition are verified by matching with signatures on SS.
  • Cheque – book leaves number, account number, account holder’s name are mentioned in the cheque- book is made by mentioning the and the total of sum of excise duty and provincial tax.
  • The name of A/c holder and date of cheque – book issuance is written on cheque – book requisition the account-opening officer puts his initials on requisition leave.
  • A/c number is stamped over the leaves of cheque – book and finally authorized person affix his signature over the debit voucher and cheque book is handed over to the customer.

Receiving Inward Cheques

Another responsibility and function of account Opening Department is to receive Inward cheques for collection of other Banks as well as of ACBL. Then these cheques are sent to clearing official who clears these checks at SBP from other banks. Inward bills from collection opposite are IBC number, their OBC number. Lodge in clearing cheques pending on realization. Cleared cheques are credited in the bank account.  

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