30 terms

Banking Companies Ordinance 1962

Banks are established under the Banking Companies Ordinance 1962, regulated by SBP. This ordinance was issued in 1962
Section 5
Define banking, banking company, branch and other related terms used in banking business
Section 7
Different forms of business in which a bank may engage
Section 9
Deals with prohibition of trading
Section 13
Deals with the requirement of minimum paid-up capital and reserve
Section 15
Deals with corporate governance and board of directors
Section 21
Deals with reserve funds
Section 22
Deals with cash reserve
Section 25
Deals with the power of SBP to control advances made by banking companies
Section 25A
Authorize SBP to collect credit information
Section 25AA
SBP submits details of loan to the Federal Govt.
Section 26
Deals with the prohibition of accepting deposits
Section 26A
Deals with the acceptance of deposits
Section 27
Deals with licensing of banking companies
Section 29
Deals with maintenance of liquid assets
Section 31
Deals with unclaimed deposits
Section 33A
Deals with secrecy relating to customers
Section 34
Deals with the preparation of balance sheet in prescribed format
Section 38
Relating to display of balance sheet, profit and loss account in branches and head offices
Section 40
Deals with the inspection of banking companies
Section 41
SBP can make an appeal to the directors of a banking companies for merger
Section 48
Deals with amalgamation and winding-up of the banking company
Section 59
Deals with voluntary winding up
Section 60 to 82
Procedure for winding up
Section 82A
Deals with banking mohtasib
Section 82B
Deals with terms and conditions of banking mohtasib
Section 82C
Deals with the court of banking mohtasib
Section 82D
Deals with procedures of making complaints
Section 82E
Deals with recommendation for implementation
Section 82F
Deals with power to call for information
Section 82G
Reporting of banking mohtasib to SBP