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Corporate Banking Resolution Template for Pakistan

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Key Requirements PROMPT example:

Corporate Banking Resolution

"I need a Corporate Banking Resolution for my technology startup to establish a new relationship with Allied Bank Pakistan, authorizing four senior executives to operate accounts with different transaction limits and including digital banking services."

Document background
A Corporate Banking Resolution is a fundamental document required when a company in Pakistan needs to establish or modify its banking relationships. This document is essential for compliance with Pakistani banking regulations, particularly the Banking Companies Ordinance 1962 and the Companies Act 2017. It is typically prepared following a board meeting where the company's directors approve banking arrangements. The resolution details who can operate bank accounts, their transaction limits, and what banking services the company can access. It serves as the bank's primary reference for verifying transaction authorities and is crucial for both new account openings and updating existing banking arrangements. The document must align with State Bank of Pakistan's prudential regulations and the company's constitutional documents.
Suggested Sections

1. Company Information: Legal name, registration number, and registered address of the company

2. Meeting Details: Date, time, location of the board meeting where resolution was passed

3. Board Authority: Confirmation of the board's authority to pass banking resolutions

4. Bank Details: Name and branch of the bank where accounts will be maintained

5. Account Authorization: Types of accounts authorized to be opened and maintained

6. Authorized Signatories: Names, designations, and specimen signatures of authorized persons

7. Signing Powers: Limits and combinations of signatories required for different transaction amounts

8. Banking Services: Authorization for specific banking services (e.g., online banking, credit facilities)

9. Resolution Certification: Company Secretary/Director's certification of the resolution's validity

Optional Sections

1. Foreign Currency Accounts: Authorization for opening and operating foreign currency accounts, used when company engages in international transactions

2. Digital Banking Services: Specific authorizations for digital/electronic banking platforms, used when company requires online banking services

3. Credit Facility Powers: Authorization for obtaining loans and credit facilities, included when company needs borrowing powers

4. Investment Powers: Authorization for making investments through the bank, used when company plans investment activities

5. Subsidiary Accounts: Authorization for operating accounts of subsidiary companies, included for corporate groups

Suggested Schedules

1. Schedule A - Authorized Signatories List: Detailed list of authorized persons with their specimen signatures and authorization limits

2. Schedule B - Specific Banking Services: Comprehensive list of authorized banking services and products

3. Schedule C - Board Resolution Extract: Certified extract from board minutes approving the banking resolution

4. Appendix 1 - Identity Documents: Copies of identity documents of authorized signatories

5. Appendix 2 - Company Documents: Copies of company registration and constitutional documents

Authors

Alex Denne

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

Relevant legal definitions






























Clauses




















Relevant Industries

Banking and Financial Services

Corporate Services

Manufacturing

Retail

Technology

Healthcare

Real Estate

Construction

Import/Export

Professional Services

Energy

Telecommunications

Agriculture

Logistics

Relevant Teams

Finance

Legal

Corporate Secretariat

Treasury

Accounts

Corporate Governance

Risk Management

Executive Leadership

Banking Operations

Compliance

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Finance Director

Company Secretary

Treasury Manager

Financial Controller

Board Director

Managing Director

Finance Manager

Accounts Manager

Corporate Governance Officer

Legal Counsel

Risk Management Officer

Banking Relationship Manager

Corporate Services 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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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