I request the senior members to solve the following different scenarios
.
1.
Mr. Iqbal Ahmed has recently come to Pakistan. He is a Pakistani-born
US national. He does not have Pakistan government's issued Identity
Card. Before coming to Pakistan he had applied for an NICOP but has
not received it yet. Mr. Ahmed wants to open a US dollar and a Pak
Rupee account. What will be the documentation requirements?
.
2
You are holding standing instructions from one of your clients authorizing you to remit Rs. 4,000 to Modern Children Academy as monthly tuition fee by debit to his account on 5th of every month. On 5th you received a cheque in inward clearing drawn by the customer in favour of M/s Karachi Electric Supply Corporation for Rs. 12,000 and the customer’s account currently has a credit balance of Rs. 14,000 only. How will you manage this situation ensuring to protect the best interest of the customer?
.
3
A walk-in-customer has purchased a Payment Order for Rs. 5,000 in favour of
University of Karachi. After a few days’ interval he approached the issuing bank for cancellation of instrument. List the steps to be observed for cancellation of such type of instruments.
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I shall be highly obliged if any senior give time from his/her precious time to solve these.