Askari Bank

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Encashment of Cheque

  • Issuance of Token
         After scrutinizing the apparent tenor of cheque a token is issued to the account holder.
  • Verification of Signature
         After affixing the two stamps i.e. paid stamp and branch stamp, a cheque Is sent to the accountant for the verification of signature from signature specimen card. After authentication a cheque is sent to cash department
  • Encashment of Cheque
         Cashier pays the amount to token holder after getting back the token from him.
  • Deduction of Zakat
         Form the profitable accounts zakat is deducted at the rate of Rs. 2.5 % .annually on the outstanding balance of accounts on the first day of every valuation dale i.e. first day of Ramzan. The Central zakat Authority (CZA) fixes minimum balance for the deduction of zakat before the valuation date
  • Exemption from Zakat
          The accounts of foreigners (including Muslims of other nations) and Pakistani non-Muslims arc exempted from (lie compulsory deduction of Zakat. The accounts of the followers of Fiqah-e-Jafria sect are also exempted from the deduction of Zakat after the submission of affidavit on a legal stamped paper.
  • Withholding Tax
         Whenever a profit is paid on any deposit it is subjected to the withholding tax @ 10% annually.

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