The Authority Letter For Bank Account Opening is a critical document in Pakistani banking operations, designed to facilitate account opening processes when the primary account holder cannot be present or when organizational structure requires delegation of authority. This document is commonly used in both personal and corporate contexts, requiring compliance with the State Bank of Pakistan's regulations and local banking laws. It must include specific details such as the authorizer's information, authorized person's details, scope of authority, and banking requirements. The letter is particularly relevant for businesses with multiple signatories, overseas account holders, or situations where delegated authority is necessary for banking operations. The document's format and content must satisfy both the bank's compliance requirements and the legal framework governing banking operations in Pakistan.
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1. Letter Header: Date, bank's name and address, and reference number if applicable
2. Subject Line: Clear indication that this is an Authority Letter for Bank Account Opening
3. Authorizer Details: Full name, address, CNIC number, and contact details of the person/entity granting the authority
4. Authorized Person Details: Full name, address, CNIC number, and contact details of the person being authorized
5. Authorization Statement: Clear statement of the authority being granted for opening and operating the bank account
6. Bank Account Details: Specification of the type of account to be opened and any specific requirements
7. Duration of Authority: Validity period of the authorization
8. Specimen Signature: Space for specimen signature of the authorized person
9. Closing and Signature: Formal closing, date, and signature of the authorizer
1. Business Details: Required when the authority is being granted for a business account, including business registration details
2. Authority Limitations: Any specific restrictions or limitations on the authority being granted
3. Witness Details: Names and signatures of witnesses when additional verification is required
4. Corporate Resolution Reference: Required for company accounts, referencing the board resolution authorizing the letter
5. Joint Account Details: Required when the authority relates to a joint account, including all account holders' details
1. Identity Documents: Copies of CNIC/passport of both authorizer and authorized person
2. Business Documents: If applicable, copies of business registration certificates, NTN certificate, etc.
3. Board Resolution: For corporate accounts, copy of board resolution authorizing the authority letter
4. Specimen Signature Card: Bank's standard specimen signature card filled out by authorized person
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Corporate Services
Legal Services
Business Services
Retail
Manufacturing
Information Technology
Healthcare
Education
Real Estate
Construction
Import/Export
Professional Services
Non-Profit Organizations
Relevant Teams
Legal
Finance
Compliance
Corporate Services
Administration
Operations
Treasury
Human Resources
Company Secretariat
Risk Management
Relevant Roles
Chief Financial Officer
Finance Manager
Company Secretary
Legal Counsel
Bank Branch Manager
Compliance Officer
Account Manager
Business Development Manager
Administrative Officer
Operations Manager
Managing Director
Financial Controller
Treasury Manager
Corporate Services Manager
Human Resources Director
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