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Bank Authorization Letter for Pakistan

Bank Authorization Letter Template for Pakistan

A Bank Authorization Letter under Pakistani law is a formal document that grants specific individuals the authority to conduct banking transactions on behalf of an account holder. This document, governed by the Banking Companies Ordinance 1962 and related Pakistani banking regulations, establishes the scope and limitations of banking powers delegated to authorized individuals. It includes detailed identification of all parties involved, specific banking powers granted, transaction limits if any, and duration of the authorization. The document must comply with State Bank of Pakistan guidelines and anti-money laundering regulations while providing clear evidence of the account holder's intent and consent.

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Bank Authorization Letter

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What is a Bank Authorization Letter?

A Bank Authorization Letter is a crucial banking document used in Pakistan when an account holder needs to delegate banking powers to other individuals. This document is essential for both personal and corporate accounts where the primary account holder cannot always be present for banking transactions. The letter must comply with Pakistani banking regulations, including the Banking Companies Ordinance 1962 and State Bank of Pakistan guidelines. It typically includes comprehensive details about the authorizer and authorized person(s), specific banking powers granted, validity period, and any applicable limitations. This authorization is particularly important for businesses, international transactions, and situations requiring continuous banking operations in the account holder's absence. The document serves as a legal record of delegation of banking authority and helps financial institutions verify and process transactions confidently.

What sections should be included in a Bank Authorization Letter?

1. Letter Header: Includes date, recipient bank's name, branch address, and reference numbers if any

2. Account Details: Specification of the account number(s), type(s), and account holder's complete details

3. Authorization Declaration: Clear statement of the intent to authorize and the capacity in which the authorization is being given

4. Authorized Person(s) Details: Complete information about the person(s) being authorized, including full name, ID numbers, and contact details

5. Scope of Authorization: Specific powers being granted (e.g., deposits, withdrawals, fund transfers, cheque signing)

6. Duration of Authorization: Validity period of the authorization, including start date and end date if applicable

7. Signature Block: Space for authorizer's signature, name, and date of signing

What sections are optional to include in a Bank Authorization Letter?

1. Corporate Resolution Reference: Required when authorization is given on behalf of a company, referencing the board resolution

2. Transaction Limits: Include when specific monetary limits need to be set for the authorized person

3. Digital Banking Access: Required when authorization includes online banking services

4. Foreign Currency Authorization: Include when authorization covers foreign currency transactions

5. Joint Account Provisions: Required for joint accounts specifying if authorization is given by all account holders

6. Revocation Clause: Optional clause specifying conditions and process for revoking the authorization

What schedules should be included in a Bank Authorization Letter?

1. Specimen Signature Card: Contains specimen signatures of all authorized persons

2. Identity Documents: Copies of required identification documents of authorized persons

3. List of Authorized Activities: Detailed breakdown of specific transactions and actions the authorized person can perform

4. Corporate Documents: Required for business accounts - includes board resolutions, company registration documents

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Pakistan

Document Type

Authorization Form

Cost

Free to use
Relevant legal definitions


















Clauses


















Relevant Industries

Banking & Financial Services

Corporate Services

Legal Services

Retail

Manufacturing

Technology

Healthcare

Education

Real Estate

Import/Export

Construction

Professional Services

Non-Profit Organizations

Government & Public Sector

Relevant Teams

Legal

Finance

Compliance

Operations

Treasury

Risk Management

Corporate Secretariat

Administration

Account Management

Customer Service

Relevant Roles

Bank Branch Manager

Compliance Officer

Corporate Secretary

Chief Financial Officer

Finance Manager

Account Manager

Legal Counsel

Treasury Manager

Operations Manager

Risk Manager

Financial Controller

Managing Director

Business Owner

Company Director

Administrative Officer

Banking Relationship Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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