Banking Laws in PakistanBanking Laws in Pakistan

Banking companies ordinance 1962Banking companies ordinance 1962 State Bank of Pakistan Act 1956State Bank of Pakistan Act 1956 Negotiable Instruments Act 1881Negotiable Instruments Act 1881 Banker’s Book Evidence Act 1891Banker’s Book Evidence Act 1891 Financial Institution (Recovery of Finances) Financial Institution (Recovery of Finances)

ordinance 2001ordinance 2001 Foreign Exchange Regulation Act 1947Foreign Exchange Regulation Act 1947 Prudential regulation 1992Prudential regulation 1992

Banking Companies Banking Companies Ordinance 1962Ordinance 1962

(Five Parts & 95 Sections)(Five Parts & 95 Sections) Definition of Bank Under Section 5 (b)Definition of Bank Under Section 5 (b) Banking business Range Section 7Banking business Range Section 7 Use the name of “Bank” Under Section 8Use the name of “Bank” Under Section 8 Nature of Banking CompaniesNature of Banking Companies Can use Cheques for withdrawal & Transfer Can use Cheques for withdrawal & Transfer

Under Section 87. Under Section 87. Prohibited Business for Banks Section 9Prohibited Business for Banks Section 9

Companies Ordinance 1962Companies Ordinance 1962

Authorized & Paid up Capital Section 13Authorized & Paid up Capital Section 13 Capital Structure Conditions to be Satisfied Section Capital Structure Conditions to be Satisfied Section

14.14. Board of Directors Elections, Tenure & Numbers Board of Directors Elections, Tenure & Numbers

Section 15Section 15 Reserve Funds From Net Profit & Deposits Section Reserve Funds From Net Profit & Deposits Section

2121 Rules for Unclaimed Deposits Section 31Rules for Unclaimed Deposits Section 31 Keeping Secracy of the customers Section 33-AKeeping Secracy of the customers Section 33-A