Overview Of First Security Islami Bank Ltd. 2l5c6v

General Banking Activities of First Security Islami Bank Ltd Executive Summary: This report is based on working experience at First Security Islami Bank Ltd (FSIBL) as a part of the internship program. During my internship period, got the opportunity to work at the General Banking Department of Mirpur branch of the bank. In order to incorporate the practical knowledge I have chosen to prepare my report on General Banking Activities of First Security Islami Bank Ltd. The report is aimed to exhibit general banking activities of the bank, how it works and to what extent the customers are satisfied with the service of the bank. The report also offers some suggestions for the improvement of providing services in of revenue and in order to achieve a superior level of customer satisfaction. First Security Islami Bank Limited (FSIBL) was incorporated in Bangladesh on 29 August 1999 as a banking company under Companies Act 1994 to carry on banking business. It obtained permission from Bangladesh Bank on 22 September 1999 to commence its business. It was commenced its operation as a conventional banks but from 1st January’ 2009 it was converted from interest based bank to an Interest free bank. At present The Bank carries banking activities through its 86 branches in the country. Like other private commercial banks First Security Islami Bank Limited (FSIBL) encom a wide range of services including accepting deposits, making loans, discounting bills, conducting money transfer and foreign exchange transactions, and performing other related services such as safe keeping, collections and issuing guarantees, acceptances and letter of credit. This report basically deals with “General Banking Activities”. After observing and doing the internship have found the some problems comparing to other private commercial bank (Mutual Trust Bank Ltd, Exim Bank Ltd.) that take places in the banking system. At the age of modern technology computer and online leads the every sphere of lives including banking system but more than half of officers of First Security Islami Bank Ltd are not experts in computer and online system. Its IT department is not so developed and experts like other banks’ IT.They face some problem due to using differences types of software like Bankultimus, PCbank etc.Few officers are skilled and experienced in banking sector that’s why sometimes they take more times handling tasks owing to handling more tasks. First Security Islami Bank Ltd has brought SMS, Mobile and Internet banking systems as a modern service but it does take any measures to popularize and make strong. Apart from, due to not having own ATM booth, clients are to pay more charge for using others bank’s ATM booth. Normally s Opening section takes more responsibilities without its duties. It is a problem for s Opening section.It does not provide service to bring attention of target customers. Problems aside, First Security Islami Bank Ltd. is

Chapter Three Organizational Overview 3.0 Organizational Overview Name of the Company Chairman Vice Chairman Managing Director Company Secretary Legal Status Date of Incorporation Date of Commencement of Business Date of Permission from Bangladesh Bank Date of Opening of First Branch ed Office Line of Business Authorized Capital Paid up Capital Date of consent of IPO Phone Fax E-mail Website SWIFT Auditors Legal Advisor Tax Consultant

First Security Islami Bank Ltd. Mohammad Saiful Alam Alhaj Mohammad Abdul Maleque A.A.M. Zakaria Abdul Hannan Khan Public Limited Company August 29, 1999 August 29, 1999 September 22, 1999 October 25, 1999 House- SW(I) 1/A, Road-8, Gulshan-1,Dhaka-1212, Bangladesh Banking Tk.4,600 Million Tk.2,300 Million 04 June 2008 88-02-9888446 (Hunting), 9565594/9554208 (ITDivision) 880-02-9891915 [email protected] K.M. Hasan FCA ,K.M. Hasan & Co. Chartered ants

Phone: 9351457,9351564 Fax: 9345792-112 3.1Corporate Information 3.1.1 Background First Security Islami Bank Limited (FSIBL) was incorporated in Bangladesh on 29 August 1999 as a banking company under Companies Act 1994 to carry on banking business. It obtained permission from Bangladesh Bank on 22 September 1999 to commence its business. The Bank carries banking activities through its 86 branches in the country. The

commercial banking activities of the bank encom a wide range of services including accepting deposits, making loans, discounting bills, conducting money transfer and foreign exchange transactions, and performing other related services such as safe keeping, collections and issuing guarantees, acceptances and letter of credit. It was commenced its operation as a conventional banks but from 1st January’ 2009 it was converted from interest based bank to an Interest free bank. The company philosophy “Symbol of Security”; the bank has been operating with talented and brilliant personnel, equipment with modern technology so as to make it most efficient to meet the challenges of 21st century. During this short span of time the Bank successful in positioning itself as progressive and dynamic financial institution in the country. The sponsor and director of the bank are a successful and prominent business group in our business community. 3.1.2 Vision To be the unique modern Islami Bank in Bangladesh and to make significant contribution to the national economy and enhance customer’s trust and wealth, quality investment, employee’s value and rapid growth in shareholder’s equity. 3.1.3 Mission • • • • • •

To be the most caring and customer friendly and service oriented bank. To create a technology based most efficient banking environment for it’s Customers. To ensure ethics and transparency in all levels. To ensure sustainable growth and establish full value of the honorable Shareholders Above all, to add effective contribution to the national economy.

3.1.4 Strategies • • • • • • •

To strive our customers best satisfaction & win their confidence. To manage & operate the bank in the most effective manner. To identify customers’ needs & monitor their perception towards meeting To review & updated policies, procedures & practices to enhance the ability to extend better customer services. To train & develop all employees & provide them adequate resources so that the customers’ needs reasonably addressed. To promote organizational efficiency by communicating company plans policies & procedures openly to the employees in a timely fashion. To ensure a congenial working environment.

3.1.5 Objective of the Bank • • • •

To explore a new horizon of innovative modern banking creating an automated and computerized environment. To provide one stop services and prepares itself to face the new horizon of innovative modern banking creating an automated and computerized environment. To provide one stop services and prepares itself to face the new challenge of globalization and competition. To be a provider of high quality products and services to its potential market.

• •

To deal with the needs of its corporate clients. To provide a comprehensive range of financial services to national multinational companies.

3.1.6 Values • • • • • • •

Value pillars of FSIBL that are central to our core ideologies and that must always be reflected in everything we do: We are aggressive in business self-driven We empower people, create leaders and drive change We treat people with respect and dignity We are personally able for delivering on commitments to high built –trust relationship with customers and to ensure customers delight We focus on managing risks and costs in order to be doubly profitable We act in ways that reflect the highest standards of integrity.

3.1.7 Board of Directors SL.NO. Name Designation 1 Alhaj Md. Saiful Islam Chairman 2 Alhaj Md. Abdul Maleque Vice Chairman 3 Ms. Rahima Khatun Director 4 Mrs.Atiqun Nesa Director 5 Md. Sharif Hossain Director 6 Mr. Md. Wahidul AlamSeth Director 7 Mr. Shahidul Islam Director 8 Mr. Mohammed Ohedul Alam Director 9 Md. Kutub Uddowllah Depositors Director 10 Md. Abdul Hamid Miah Independent Director 11 Ahsanul Alam Director 12 A.A.M Zakaria Managing Director 3.2 Management 3.2.1 Senior Management FSIBL is functioning with a highly professional management team headed by the Managing Director Mr. A. A. M. Zakaria. Among other senior executives currently Two DMD, One Principal (Training Center), Two SEVP, six EVP, Seven SVP, Eleven VP, Nine FVP, fifteen SAVP, sixteen AVP and eighteen FAVP are discharging their services in progression of the banks business 3.2.2 Team Management

3.2.3 Human Resources Development Managing Director Deputy Managing Director Principal of Training Centre Senior Executive Vice President Executive Vice President Senior Vice President Vice President First Vice President Senior Assistant Vice President Assistant Vice President First Assistant Vice President Principal Officer Senior Officer Officer Junior Officer-1 Junior Officer-2 FSIBL has a separate Human Resources Division (HRD) to manage the employee policies and practices. As on FYE 2011, Total 1400 executives & officers of the bank have been working for smooth banking operations. Bank follows a standardized human resources policy. HRD of the Bank follow a transparent and free & fair system to ensure the standard recruitment, training & development of human resources of the bank. The bank has defined HR policies including recruitment, training & development, promotion, leave, transfer and disciplinary action policy. Usually internal recruitment procedures are considered to fill up the mid and top management positions, while entry-level positions are filled with regularly through competitive recruitment exams. They follow transparent, well-defined and strict rules for appointment of officers and staff in the Bank’s service. 3.2.4 Corporate Governance Corporate governance is about how corporation is running its operations to achieve its corporate objectives. Bangladesh Bank (BB) gives emphasis on implementing corporate governance among the financial institutions and to do that, BB emphasizes implementation of the guidelines issued by them for improving corporate governance in banking. Good Corporate Governance practices enhance an entity’s corporate image and market credibility, which attract capital and increase its borrowing power. These can be reflected in the quality of financial reporting and disclosures; strength of internal control system and internal audit function induction of professionally competent, independent non-executive Directors on corporate Board; formation of Audit Committee; delegation of authority to executives and staff; protection of corporate governance for strengthening organizational strength. With a view to ensure effective participation and deep interest in the affairs of the company and as per Articles of Association of the Company and as per Bangladesh Bank Circular No. 16 dated March 24, 2003 the bank has set up the following 2 committees: • •

Executive committee Audit Committee

3.2.5 Executive Committee FSIBL has constituted 09 executive committee of the board as per Bangladesh Bank guidelines to ensure corporate governance in the business of which managing director of the Bank is Ex-officio Member. The executive committee of the board is responsible for developing policy and strategy for smooth operations of business and business development of the bank to ensure maximization of shareholders wealth’s protecting other stakeholder’s interest in the company . 2.5 Audit Committee FSIBL has formulated an audit committee can play an effective role in formulating an efficient and secured banking system. The Audit Committee Has been formed comprising three of the Board of Directors. As per corporate governance guidelines the Chairman of the Audit Committee should have sound knowledge and expertise in finance & ing or auditing. 3.3 Branch Network At present, First Security Islami Bank Ltd. has 84 Branches in overall Bangladesh. All the 84 Branches are computerized. Among them 62 Branches are under distributed server environment, other are ruining with our Core Banking Software (CBS). All the Branches will be migrated from distributed server to CBS, First Security Islami Bank Ltd (FSIBL) has already started their on-line, SMS and ATM banking facilities for their clients. , First Security Islami Bank Ltd (FSIBL) will add mobile banking and e-banking facilities within short period of time. Branches of First Security Islami Bank Ltd Division Number of Branches Dhaka 35 Branches Chittagong 28 Branches Khulna 7 Branches Sylhet 7 Branches Rajshahi 3 Branches Khulna 2 Branches Rangpur 2 Branches 3.4 Information Technology Division FSIBL has an Information Technology Division at the head office to provide IT to all its branches. The Bank has well documented guideline on information and communication technology (ICT). From the very beginning FSIBL was using computerized banking software “PcBank/Bank Ultimus’’ for all the branches to provide online banking facilities to its clients. FSIBL is now providing online banking facilities with distributed system. The Bank also has SMS banking service. , First Security Islami Bank Ltd (FSBL) has a plan to introduce centralized system for online banking.

3.5 Products 3.5.1 Deposits Scheme • • •

Al-Wadiah Current Deposit Mudarabah Savings Deposit Mudarabah Short Term Deposit

Mudarabah Term Deposit• • • • • •

One Month Three Months Six Months Twelve Months Twenty Four Months Thirty Six Months

Foreign Currency Deposit • • • • •

Mudarabah Savings Scheme Monthly Savings Scheme Monthly Profit Scheme More than double the deposit in 6 years Consumer Finance Scheme

First Security Islami Bank Ltd. In 2011 Introduced New Deposit Scheme • • • • • • • • • • • • • •

Alo Mudarabah Education Deposit Scheme Bondhon Mudarabah Wedding Deposit Scheme Niramoy Mudarabah Treatment Deposit Scheme Obosor Mudarabah Pension Deposit Scheme Onkur Mudarabah Student Savings Deposit Prapti Mudarabah Salary Savings Deposit Somman Al-Wadiah Provin Mudarabah Senior Citizen Savings Deposit Morjada Al- Wadiah Current plus Zakat Fund Mudarabah Hajj Savings Deposit Mudarabah Monthly Deposit Scheme Mudarabah Double Deposit Scheme Mudarabah Monthly Profit Scheme

We are also emphasizing on non-fund business and fee based income. Bid bond/ bid security can be issued at our customer’s request. Our Bank is posed to extend L/C facilities to its importers / exporters through establishment of correspondent relations and Nostro s with leading banks all over the world. 3.5.2 Investment Scheme

Investment / Deployment of Funds: • • • • • • • • • • • • • • •

Bai-Murabaha (Deferred Lump Sum/ Installment Sale) Bai-Muajjal (Deferred Installment / Lump Sum Sale) Ijara (Leasing) Musharaka (t-Venture Profit-Sharing) Mudaraba (Trustee Profit-Sharing) Bai-Salam (Advance Sale and Purchase) Hire-Purchase Direct Investments Post Import Investment Purchase and Negotiation of Export Bills Inland Bills Purchased Murabaha Import Bills Bai-Muajjal Import Bills Pre Shipment Investment Quard-ul-Hasan (Benevolent Investment)

• • • • • • • • •

Letter of Guarantee Tender Guarantee Performance Guarantee Guarantee for Sub-Contracts Shipping guarantee Advance Payment guarantee Guarantee in lieu of Security Deposits Guarantee for exemption of Customs Duties

Others: Letter of Credit (L/C) / Back to Back Letter of Credit (L/C) Specialized Schemes • • • • •

Consumer Investment Scheme SME Investment Scheme Lease Investment Scheme Hire Purchase Earnest Money Investment Scheme, Mortgage Investment

• • • •

Employees House Building Scheme ATM VISA Investment Card EEF etc.

3.6 Services

3.6.1 Online Any Branch Banking First Security Islami Bank Ltd (FSIBL) have set up Wide Area Network through Radio, Fiber-Optics & other available communication media systems to provide any branch banking to our customers. Customer of one branch is now able to deposit and withdraw money at any of our branches. All Branches are included in our Wide Area Network. No TT/DD or cash carrying will be necessary. 3.6.2 SMS Banking First Security Islami Bank Ltd. has officially launched SMS banking service from December 17, 2007. 3.6.3 Mobile Banking First Security Islami Bank Ltd. (FSIBL) has introduced mobile banking and payment services titled, “First pay, Sure Cash” for its customers on27 March, 12.Through this service, people staying at anywhere of the country would get various banking services, such as, opening up new , cash deposit, cash withdrawal, money transfer, bill payment, remittance disbursement, ticketing of train, bus and cinema, payroll and utility services. The bank teamed up with the state-owned telecom service provider Teletalk to facilitate the mobile banking services. Besides, the bank will also receive technical assistance from ‘ProgatiSystems’. 3.6.4 ATM Banking First Security Islami Bank Ltd. has implemented successfully Automated Teller Machine (ATM) /DBDIT card transaction from June 25, 2008. Through Automated Teller Machine (ATM) /Debit card, customer can avail the facilities like withdrawal money, balance inquiry and purchase goods from Point of sale (POS) using Dutch Bangla Bank Ltd. ATM Booth and POS. 3.6.5 Locker Service For safekeeping of customer’s valuables like important documents and goods like jewelries and gold ornaments, , First Security Islami Bank Ltd (FSIBL) Locker Service is available in most of the Branches in urban areas. 3.6.6 Utility Bills The utility bill’s received following Branches: Branch Name Mohakhali, Dhaka Topkhana, Dhaka

Bill’s Type DESCO Under process (Electric bill)

Gulshan , Dhaka Titas Gas Shafipur ,Gazipur Dhaka Pally Biddut Shomitty Keranihat,Chittagong Pally Biddut Shomitty Biswanath , Sylhet Pally Biddut Shomitty Banking Activities: In Bangladesh, all conventional private commercial banks and Islamic banks (First Security Islami Bank Ltd.) exercise daily general banking activities in banking hour. Basically all general banking activities are same but a some differences are found in concept of banking, name of activities and & conditions .Now will choose Mutual Trust Bank Ltd. as a Private Commercial Bank and First Security Islami Bank Ltd. Where doing internship program as for comparison in general banking activities done by both banks.

Private Commercial Bank First Security Islami Bank Private Commercial Bank First Security Islami Bank Private Commercial Bank First Security Islami Bank

Concept Interest based. Interest free bank. Name Current , Savings &Fixed Deposit Rate Al-Wadiah Current Deposit, Mudarabah Savings Deposit and Mudarabah Term Deposit & Conditions Depositor doesn’t bear any loss of bank if bank fails to earn profit. Depositor bears any loss of bank if bank fails to earn profit.

Functions Of First Security Islami Bank Ltd The functions of First Security Islami Bank Ltd (FSIBL) are divided into three divisions these are: 1) General Banking. 3) Investment 2) Foreign Exchange. First Security Islami Bank Ltd (FSIBL) provides their services under t three divisions. Each of this section serves various services for satisfying their clients. General Banking Division:

General Banking Division is considered as the direct customer service center. It is the starting point of all the Banking operation. It opens new s, remits funds, honor cheque, takes deposits, issues pay order etc. General Banking is also known as retail Banking. Following are the major section in general banking: · opening section · Clearing section · s section · Cash section Opening Section opening is the gateway for clients to enter into business with bank. It is the foundation of banker customer relationship. This is one of the most important sections of a branch, because by opening s bank mobilizes funds for investment. Various rules and regulations are maintained and various documents are taken while opening an . Different Types Of s •

Current

A current is a running and active , which may be operated upon any number of times during a working day. It is purely demand deposit because the bank is bound to pay the amount to the holder on demand at any time within the banking hour. The holder not gets any interest against their current •

Al-Wadeeah Current Deposit

The word “Al-Wadeeah” derived from the Arabic word “Wadium” means ‘Amanat. Amanat means to keep or deposit something to any person or institution for safe preservation maintaining original ownership and bound to return to owner on demand with original shape. The term Al-Wadeeah means deposit of money allowing some body to claim in the . In case of Al-Wadiah Deposit, Bank must take permission from owner to invest the fund with other bank’s fund. Because of owner involves neither earning profit nor any loss. So, Banks not only will enjoy 100% profit but also will bear full losses. Holder pay fees for maintain the and other costs. Savings Bank (Conventional) A saving is meant for the people of the lower and middle classes who wish to save a part of their incomes to meet their future need and intend to earn an income with a fixed rate of interest from their savings, it encourages savings of non-trading persons, institutions, society and clubs etc. The deposits are mostly small amounts.

Mudarabah Savings Deposit s The term ‘Mudaraba’ derived from Arabic word ‘Dard’/ ‘Darbun’ which means “Travel” thus the word ‘Mudarah’ means “Travel” for undertaking business. ‘Mudaraba is a partnership in profit whereby one party provides capital and the other party provides skill and labor. The provider of capital is called “Shahib-al- Mal/Rabbul-Mal” (Owner of the fund) while the provider of skill and labor is called “Mudarib” (organizer/Manager). Depositors will deposit money and bank will invest fund as per Islami Shariah without any intervention of depositors. Depositor will gain profit according to specified Weight age 0.75 and will bear loss at ratio of deposit. The provisional profit will be given two (2) times (June-December) which will be adjusted after the final profit has Calculated at the year end. Weekly 2 (two) times, Monthly 4 (four) times and ¼ of the balance amount or Tk. 50,000.00 whichever is lower can be withdrawn without any notice. Fixed Deposits Receipts: (Conventional) The Interest rate is fixed for the fixed amount and time. The depositor are ensured for getting the interest as fixed when deposits are mobilized, even if the bank occur a huge loss without any negligence or violation of the conditions agreed. Mudarabah Term Deposit (MTD) s The bank is authorized by the depositor to invest the Mudarabah fund at the risk of the Sahib Al- Mal. MTD is opened with certain fixed amount of money for a particular period by person/persons individually/tly, by business entities for periods of 1 month, 3 months, 6 months, 12 months, 24 months, 36 months, as approved by the Head Office from time to time. The deposit in MTD will enjoy higher rate of weight age respectively 0.75, 0.88, 0.92, 0.96, 0.98 and 1 in profit compared to Mudarabah savings for different period respectively. No transaction is allowed in MTD and hence no cheque book is issued. Credit/debit of actual profit/loss shall be made after audit of the final of the bank. In the mean, time profit on MTD shall be paid at the provisional rate as on when due and as fixed by the Head Office from time to time depending on their period of maturity. Mudarabah Monthly Deposit Scheme (MMDS): Revised Profit Rate of this scheme is now 12%. Size of installment has been extended up to TK 25000/- (Twenty Five Thousand Taka). You are requested to the follow the following table for MMDS. Insurance facility will be added with this scheme.

installment

500

1000

1500

2000

2500

5000

10000

15000

20000

25000

Principal 30000 60000 90000 120000 150000 300000 600000 900000 1200000 1500000 5 Yrs amount maturity value 40850 81700 122550 163350 204200 408350 816700 1225050 1633400 2041750 Principal 48000 96000 144000 192000 240000 480000 960000 1440000 1920000 2400000 8 Yrs amount maturity value 80000 159950 239900 319900 399850 799650 1599300 2398950 3198550 3998200 Principal 60000 120000 180000 240000 300000 600000 1200000 1800000 2400000 3000000 10 Yrs amount maturity value 115050 230050 345100 460100 575100 1150200 2300400 3450600 4600800 5751000 Mudarabah Monthly Profit Scheme (MMPS): Revised Profit Rate of this scheme is now 12%. Under this Scheme clients will get TK. 1000/- (One Thousand Taka) per month against TK. 1, 00,000/- (One Lac taka) deposit (Govt. Tax Applicable). Insurance facility will be added with this scheme. Mudarabah Deposit Double Scheme (MDDS): Revised Profit Rate of this scheme is now 12%. Deposit Rate will be double in 6(Six) years instead of 6.5 years after revision. Insurance facility will be added with this scheme. Calculation/Fixing Of Weightage: The longer period of deposit, the greater the risk they bear with regard to fluctuation of the rates of profit and erosion of the value of deposit due to inflation. Some deposit shall have to forgo profit if incased within fixed minimum period and also to forgo some profit in case of predetermine encashment through reduce weightage. Some depositors shall have to forgo some profit in case of default of scheduled payment. Calculation Of Profit On the basis of above principles, let us work out the rates of profit using the information and figures given below: a. Total Investment Tk. 1000/b. Total Investment Income Tk. 150/C. Total Fund employed i. Bank’s Equity & Al-Wadeeah Deposit Tk. 200/ii. Mudaraba Deposit Tk. 800/Therefore the share of the investment of Mudaraba Deposit will be (150/1000*800) = Tk. 120/-

Less: a. 20% Management Fee Tk. 24/b. 15% Loss off-setting Reserve Tk. 18/- Total Tk. 42/Procedure Of Opening Opening (Mudarabah Savings Scheme): 1. Fill up the opening form correctly. 2. Two copies of photograph of every signatory. 3. Photocopy of National ID Card/port/Citizenship certificate with original copy of verification purpose. 4. Details of nominee. 5. Signature and one copy of photograph of each nominee (must be attested by holder). 6. The holder itself will sign in front of opening officer in the opening form Mudarabah Savings DepositandAl-Wadiah Current Deposit both need following necessary documents, information for opening an . For Individual 1. Fill up the opening form correctly (must be introduced by Introducer) 2. Two copies of photograph of every signatory(must be attested by Introducer) 3. Photocopy of National ID Card/port/Citizenship certificate with original copy of verification purpose 4. Details of nominee 5. Signature and one copy of photograph of each nominee( must be attested by holder) 6. The holder itself will sign in front of opening officer in the opening form. Sole Proprietorship 1. Request letter/Application for opening purpose 2. Up to date Trade License, TIN and VAT of firm

3. Seal and Visiting Card of Signatory ( if applicable) 4. Two copies of photograph of every signatory(must be attested by Introducer) 5. Photocopy of National ID Card/port/Citizenship certificate with original copy of verification purpose 6. Signature and one copy of photograph of each nominee( must be attested by holder) 7. hip Certificate of Trade Association, Chamber of Commerce and Industry 8. Tenancy Agreement copy( if applicable) Partnership 1. Request letter/Application for opening purpose 2. ed Partnership deed on non-judicial stamp of TK.150/ & List of the Partners with Portfolio. 3. Up to date Trade License, TIN and VAT of firm 4. Resolution regarding operation of bank and g of Bank’s charge documents with execution of Mortgage Deeds and other bank’s papers as per partners. 5. Seal and Visiting Card of Signatory ( if applicable) 6. Two copies of photograph of every signatory(must be attested by Introducer) 7. Photocopy of National ID Card/port/Citizenship certificate with original copy of verification purpose 8. Signature and one copy of photograph of each nominee( must be attested by holder) 9. hip Certificate of Trade Association, Chamber of Commerce and Industry 10. Tenancy Agreement copy between Firm and Landlord( if applicable) Limited Liability Company 1. Request letter/Application for opening purpose 2. Certificate of Incorporation 3. The certified copy of Memorandum and Articles of Association by of t Stock and Firm.

4. Resolution regarding operation of bank and g of Bank’s charge documents with execution of Mortgage Deeds and other bank’s papers as per Memorandum and Articles of Association. 5. Seal as per resolution. 6. Two copies of photograph of every signatory(must be attested by Introducer & Visiting Card of Signatories ) 7. Photocopy of National ID Card/port/Citizenship certificate with original copy of verification purpose 8. Complete Bio-Data with port size of photographs of all directors signed by them 9. The certified copy of Form No. XII and XX dully issued by of t Stock and Firm. 10. Up to date Trade License, TIN and VAT of firm 11. Signature and one copy of photograph of each nominee( must be attested by holder) 12. hip Certificate of Trade Association, Chamber of Commerce and Industry