KNOW YOUR CUSTOMER (PRUDENTIAL REGULATION M-1)-
INCENTIVE TO REGISTERED ALIENS RESIDING IN
June 4, 2004
BPD Circular Letter No. 19 of 2004
All Banks / DFIs,
Dear Sirs/ Madam,
KNOW YOUR CUSTOMER (PRUDENTIAL REGULATION M-1)- INCENTIVE TO REGISTERED ALIENS RESIDING IN
Please refer to Prudential Regulation No. M-1 notified vide BPD Circular No. 10 dated March 29, 2004 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.
(Muhammad Kamran Shehzad)