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Government Securities
include Defence Saving Certificates (DSCs), Special Saving Certificates (SSCs),
Regular Income Certificates (RICs), Behbood Certificates, US Dollar Bonds &
NIT Units etc, issued by National Saving Centre Government of Pakistan/National
Investment Trust.
Large amount of funds representing “Provident Fund”, Benevolent Fund collections
are invested in the Government Securities, which are yielding better return compared
to placements with Commercial Banks. Banks also extend credit facilities against
pledge of “Deposit Certificates” or other instruments of value issued in the name
of Individuals, Joint Holders Public Bodies, and Firms, issued by various Government
regulated Investment/Saving Organizations, which at the moment are restricted to
Maximum of Rupees One Million and are subject to change.
POLICY
1. All Credit Financing against pledge of Securities require Credit Limit approved
by Credit Committee, even if 100% covered by cash or collateral.
2. Documents complete in all respect duly vetted by Bank’s legal counsel signature
verified shall be obtained ensuring their validity in a “Court of Law”. Signatures
shall be verified in pencil on each document.
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