ISLAMABAD ( Web News )
Pakistan has determined the conditions of identification documents for those who open bank accounts for business given international agreements to prevent money laundering and financing of terrorism under international agreements. The Securities and Exchange Commission of Pakistan (SECP) has released the new version of Anti-Money Laundering, Combating Financing of Terrorism, and Counter-Proliferation Financing Regulation 2020. For opening an individual account, a Computerized National Identity Card issued by NADRA, Smart Identity Card, Form B issued by NADRA in case of minor, Juvenile Card, Child Registration Card, Weld Visa in case of overseas Pakistani. Passport, Pakistan Origin Pard issued by NADRA, Alien Registration Card, Identity documents issued by NADRA of each account holder in case of opening joint account, Documents for opening civil proprietorship account, Certified documents of registered company, Sales Tax Registration Number, National Tax Number, Account Opening Application on Company Letterhead, Registered Business Address and Membership Documents of the Trade Organization with which it is registered, Identity Documents of all Partners for Opening Partnership Company Bank Account, and Specimens of their attested signatures, attested documents of partnership deed, authorization letter of all partners, registered business address, registration documents of all partners for Limited Liability Partnership (LLP) account and their attested signatures Details, partnership deed documents, firm registration certificate, firm’s authorization letter for opening an account, registered business address, bank account for limited companies and corporations are among the documents required for the company or corporation’s board of directors. Certified Documents of Resolution, Memorandum of Articles of Association, Form A and Form B, Proof of Form 29, Details of their Directors and their Beneficial Honorees, Copy of Certificate of Permission of the Board of Trustees or Board of Investments for account of Branch Office, Liaison Office or Office of Foreign Company, Passports bearing Weld Visa. Copies of their attested signatures, names of the head and directors of the company and their joining in the company, and details of attested documents of each director and principal accounting officer of the trust, club, society or association shall be provided. To open an account of the association. Registration documents of the society, instruments of registration of the trust, their bylaws, rules and regulations, their governing body, board of trustees, executive committee, alternate governing body, and opening of an account on the letterhead of the company. application, specimen signatures of account operators, registered business address of business, documents of registration certificate for opening accounts of NGOs and welfare organizations and charities, their by-laws, rules, regulations, governing Body, Board of Trustees, Executive Committee, Alternet Governing Body, Signatures of those operating the account, their annual audited accounts, their annual financial statement including donations received by them, details of their use, their registered Address must be provided