Cheque Book Issuance In Bank 2023

 Following requisites shall be ensured before issuance of cheque book to the customer: 1. For issuance of first cheque book, AOF will be considered as Cheque Book Issuance Request, whereas for subsequent issuance of cheque book, customer shall submit cheque book requisition leaf inside the existing cheque book. 2. Manual cheque book may be issued once to the new borrowers for withdrawal of loan amount, whereas for any other customers, personalized cheque books shall be issued. 3. Branch shall issue personalized cheque book to deposit customer. In exceptional cases, manual cheque book may be issued to deposit customer after getting approval from concerned AOM/ ROM/MBBO/SMBO. 4. Branch shall issue only personalized cheque book to all existing customers (2nd cheque book or lost cheque book/requisition). In exceptional cases, manual cheque book may be issued to a customer after getting approval from concerned AOM/ROM/MBBO/SMBO. 5. Cheque book shall preferably be delivered to the customer in person.

A. Process - Issuance of Manual Cheque Book Account Holder: Shall visit the branch and fill in the Cheque Book Request and present to Designated Officer. Designated Officer: i. Shall verify the signatures of the customer. Before processing of cheque book designated officer should ensure that sufficient funds are available in account for charges deductions. ii. Shall get a Cheque Book from Stock and complete formalities regarding its issuance by noting the details in Cheque Book Issuance Register, furthermore at each cheque book leaf the account number will be mentioned whereas the account title will be written on the covering page. iii. Will post cheque book into system with due care. Authorized Officer: Will authorize cheque book into system with due care with respect to serial number & number of leaves. Designated Officer: i. Cheque Book will be issued to the customer by taking customer acknowledgement (signature /thumb impression / as per SS card) in the Cheque Book Issuance Register. ii. Handover the cheque book to the customer after activation in the CBS.

B. Process - Issuance and Delivery of Personalized Cheque Book Account Holder or His/her Representative: Shall visit the branch and submit the Cheque Book Request duly filled and signed by account holder to Designated Officer. Designated Officer: i. Will receive the cheque book requisition and confirm the following information: a) Cheque Book requisition is properly filled and Customer’s signatures are verified as per SS Card. b) Before processing of cheque book designated officer should ensure that sufficient funds are available in account for charges deductions. i. After confirming all above, designated officer will accept the cheque book request and intimate the customer to collect cheque book after 3 to 5 working days. ii. Allot serial number of the cheque book as per sequence issued to the branch. Serial number shall also be mentioned on the cheque book requisition slip. Once serial number for cheque book has been issued from cheque books issuance register, designated officer will post the cheque book serial in CBS. Authorized Officer: i. Will authorize cheque book serial in the system after verification of original request. ii. Will ensure to process all requests for personalized cheque books before the cut off time by 4:00 pm daily. Account Holder or His/her Representative: Shall: i. Visit branch for receipt of cheque book. ii. Where account holder sends his/her representative, representative must possess an authority letter duly signed by the account holder along with valid copy of CNIC of the representative. Designated Officer: Shall i. Confirm from the stock whether cheque book of that particular customer has been received at branch. ii. Verify the signature of customer on authority letter and will obtain copy of CNIC of representative. iii. Bio-metric and Call Back Confirmation (CBC) must be conducted to establish the identity of the authorized representative. Where Call Back Confirmation (CBC) is unsuccessful, BM shall decide whether to process the case keeping in view the history of the customer. iv. Make entry in the “Cheque Book Issuance Register” along with signature of account holder (verified with SS Card) where the account holder comes to collect the cheque book himself otherwise signature of his/her representative shall be obtained and verified. v. Handover the cheque book to the account holder or his/her representative after activation in the CBS. vi. All cheque book requisitions for personalized cheque books will be kept separately in a file named “Cheque Book Requisitions (PCB)”

Zakat Management In Bank Full Info

Savings and other similar accounts On 1st of Ramadan every year, Zakat is deducted at source on all categories of PLS saving and other similar accounts except those fulfilling the exemption criteria as per Zakat & Usher Ordinance 1980.

Term Deposits Receipts (TDRs) On 1st of Ramadan every year, Zakat will be calculated on all Term Deposits except those fulfilling the exemption criteria as per Zakat & Usher Ordinance 1980. Please note that all term deposits that are liable for zakat, there will be no actual deduction of zakat on 1st of Ramadan from principal amount of term deposits. The amount will be calculated against each eligible term deposit and Zakat will be deducted upon maturity or premature encashment. Sahib-e-Nisab Means a person who owns or possess assets not less than “Nisab” as announced by the Administrator General Zakat each year before the start of Ramadan Rate of Zakat 2.50% Valuation Date 1st of Ramada.

2 Zakat Exemptions Following categories are exempted from zakat as per Zakat & Usher Ordinance 1980: 1. A person who is not a “Sahib-e-Nisab”; 2. Current accounts; 3. All Non-Muslims & All Foreign Nationals; 4. Customers who died on or before 1st of Ramzan; 5. Federal Government, Provincial Government or a Local Authority; 6. Any organization which is owned wholly, directly or indirectly, by the Federal or Provincial Government or a Local Authority; 7. Subsidiary of any organization which is owned wholly, directly or indirectly, by the Federal or Provincial Government or a Local Authority; 8. A company where majority shares are owned by foreign entity; 9. National Investment (Unit) Trust/ Investment Corporation of Pakistan & its Mutual Fund; 10. Recognized Provident Fund; 11. Any Unit Fund maintained by Defense Services including Civil Armed Forces; 12. Zakat Fund; 13. All registered charitable organizations; 14. Deeni madrassah registered by Zakat Department; 15. Mosque; 16. Registered orphanage; 17. Workers Participation Fund; 18. Customers who have submitted the certificate/affidavit of Zakat Exemption (CZ-50) before 1st Shabban in their respective Branches; and 19. Customers who have opened accounts in the month of Shabban and have submitted the certificate / affidavit of Zakat Exemption (CZ-50) before 1st Ramzan in their respective branches.

Zakat Marking Process:

Process Flow for Zakat Marking Customer: Shall provide duly filled CZ-50 (Zakat Exemption Certificate) to the designated officer. IN case of joint account holders, all are required to provide separate CZ-50 (Zakat Exemption Certificate). Designated Officer: Shall i. Ensure the correctness CZ-50 (Zakat Exemption Certificate) as per below mentioned requisites: a. Stamp paper valuing Minimum Rs.20/-. b. Stamp paper properly filled and there is no cutting overwriting. c. Stamp paper should be with witness of two male persons. d. Stamp paper should be attested from Notary Public /Oath Commissioner. e. If stamp paper received from customer in shape of photocopy same should be attested by Notary Public or Oath commissioner. f. Photocopy should be from both sides. ii. Verify the customer’s signature/thumb impressions with led pencil on the stamp papers. iii. Record the receiving of the CZ-50 (Zakat Exemption Certificate) in the Zakat Register by noting down the Sequence Number of the Certificate in the Register. iv. Mark the Zakat Exemption in the system on account/s pertaining to CZ-50 (Zakat Exemption Certificate). Authorizing Officer: Shall review and authorize the Zakat Exemption Marking made by the Designated Officer. Designated Officer: After marking of Zakat Exemption in the system, designated officer shall i. Provide copy of CZ-50 (Zakat Exemption Certificate) duly stamped, dated and signed to the customer for his/her record-keeping. ii. Obtain receiving from customer on the back side of the bank copy of CZ-50 (Zakat Exemption Certificate) for audit trail purposes