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040704
STATE BANK OF PAKISTAN - BANKING POLICY DEPARTMENT
BPD Circular Letter No. 19 of 2004
June 4, 2004
All Banks / DFIs,
Dear Sirs/ Madam,
KNOW YOUR CUSTOMER (PRUDENTIAL
REGULATION M-1)-
INCENTIVE TO REGISTERED ALIENS RESIDING IN PAKISTAN
Please refer to Prudential Regulation No. M-1
notified vide BPD Circular No. 10 dated March 29, 2003 on the above subject.
2. National Aliens Registration Authority (NARA) vide letter No. 9(6) / 2004 /
DD/ (Reg-II) / NARA dated May 10, 2004 (Copy enclosed) has informed that
Government of Pakistan has, interalia, extended an incentive of opening of bank
accounts to the registered aliens residing in Pakistan on providing a copy of
“Alien Registration Card” issued by NARA.
3. Accordingly, at Sr. No. ‘I(1)’ of the annexure to the above Prudential
Regulation, Banks/ DFIs may accept an attested copy of valid “Alien Registration
Card” instead of CNIC in case of registered aliens who wish to open a bank
account in Pakistan.
4. All other instructions on the subject shall remain enforced / unchanged in
respect of registered aliens as well.
5. Please acknowledge receipt.
Encl. As above.
Yours faithfully
Sd/-
(Muhammad Kamran Shehzad)
Director
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