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List of Required Documents for Account Opening & KYC

  1. Duly filled and signed Booklet Account Opening Form (including Risk Profiling Questionnaire, KYC, FATCA, CRS-1 and Face to Face Interaction Sections) of the Principal Account Holder.
  2. Duly filled and signed KYC, FATCA and CRS-1 Form of Joint Account Holder/ Ultimate Beneficiary (if any).
  3. Legible attested copy of valid and unexpired identity document of Principal Account Holder and Joint Account Holder/ Guardian/ Ultimate Beneficiary (if any). Identity document for local individual includes Computerized National Identity Card (CNIC), Smart National Identity Card (SNIC), National Identity Card for Overseas Pakistani (NICOP/SNICOP), Pakistan Origin Card (POC) and Alien Registration Card (ARC). Identity document for foreign national individual includes Passport having valid visa on it or any other proof of legal stay along with Passport. Identity document for minor includes Form-B, Juvenile Card, Family Registration Certificate (FRC) and Child Registration Certificate (CRC).
  4. Attested passport size photograph in case of an Individual Investor with shaky/immature signatures or thumb impression.
  5. If the residential address of the Principal Account Holder is different from the addresses mentioned on his/her identity document, then a copy of latest Utility Bill paid/ Bank Statement/ Credit Card Statement/ Rental Agreement for verification of residential address.
  6. List of required source(s) of income/funds documents is provided below:
S.No. Source of Income/ Funds Required Documents
1 Salary Income
  • Investment balance below Rs. 10 Million:
  • An attested copy of unexpired Service/ Job Card issued by the employer OR an attested copy of Certificate or Letter on letter head of the employer (not more than three (3) months old).
  • Investment balance equal to or above Rs. 10 Million:
  • An attested copy of unexpired Service/ Job Card issued by the employer OR an attested copy of Certificate or Letter on letter head of the employer (not more than three (3) months old); and
  • Documentary evidence to justify the investment balance such as an attested copy of Salary Slip (not more than three (3) months old) showing the name of employer OR latest complete income tax return and wealth statement submitted to FBR, etc.
  • [Note: The Customer can get the copy attested by his/ her Human Resources/ Payroll Department or show original document to our Sales Person who will mark “Attested & Original Seen” on the copy with his/ her signature. ]
2 Home Remittance
  • Investment balance up to Rs. 5 Million:
  • Proceeds Realization Certificate (PRC) OR Swift Slip OR Remittance Slip (such as Western Union) OR Bank Statement reflecting the amount of remitted proceeds.
  • Investment balance above Rs. 5 Million but below Rs. 10 Million:
  • Proceeds Realization Certificate (PRC) OR Swift Slip OR Remittance Slip (such as Western Union) OR Bank Statement reflecting the amount of remitted proceeds; and
  • Disclosure of relationship with the Remitter and identity of the Remitter.
  • Investment balance equal to or above Rs. 10 Million:
  • Proceeds Realization Certificate (PRC) OR Swift Slip OR Remittance Slip (such as Western Union) OR Bank Statement reflecting the amount of remitted proceeds;
  • Disclosure of relationship with the Remitter and identity of the Remitter;
  • KYC Form of the Remitter; and
  • Documentary evidence for source(s) of income/funds of the Remitter.
3 Inheritance
  • Notarized copy of Succession Certificate/ Heirship Certificate issued by competent Court; OR
  • Notarized copy of decision taken by Punchayat/ Mahalla Committee duly attested by Gazetted Officer (BPS-17 or above)/ branch manager of the bank/ notary public/ authorized officer of the Company; OR
  • Notarized copy of duly executed Will/ Gift Deed/ Transfer Deed attested by Gazetted Officer (BPS-17 or above)/ branch manager of the bank/ notary public/ authorized officer of the Company; OR
  • Copy of latest complete Income Tax Return and Wealth Statement submitted to FBR.
4 Savings/ Investments
  • Bank Statement of at least previous six (6) months reflecting average savings; OR
  • IPS Statement/ CDC Statement/ Broker Statement/ Investment Statement of at least previous six (6) months; OR
  • Copy of latest complete Income Tax Return and Wealth Statement submitted to FBR.
5 Retirement Benefits
  • Investment balance below Rs. 10 Million:
  • Copy of Retirement Letter OR Settlement Letter OR Pension Book OR any other valid document disclosing the amount of retirement benefits received on retirement.
  • Investment balance equal to or above Rs. 10 Million:
  • Copy of Retirement Letter OR Settlement Letter OR Pension Book OR any other valid document disclosing the amount of retirement benefits received on retirement and justifying the amount of investment; OR
  • Copy of latest complete Income Tax Return and Wealth Statement submitted to FBR.
6 Agriculture Income
  • Copy of Pass Book OR any other document that validates the ownership of agriculture property; and
  • Latest documentary evidence to justify investment amount such as Bank Statement of at least previous twelve (12) months OR copy of latest income tax return and wealth statement submitted to FBR OR any other valid documentary evidence.
7 Rental Income
  • Copy of duly executed rental agreement where rental income is shown.
8 Disposal Proceeds of the Property
  • Investment balance below Rs. 10 Million:
  • Copy of duly executed Sale deed OR Sale Agreement OR Transfer deed showing the amount of disposal proceeds.
  • Investment balance equal to or above Rs. 10 Million:
  • Copy of duly executed Sale deed OR Sale Agreement OR Transfer deed showing the amount of disposal proceeds; and
  • Bank Statement showing the amount of disposal proceeds.
9 Disposal Proceeds of the Motor Vehicle
  • Copy of sale receipt showing the amount of sale proceeds; and
  • Copy of Transfer Letter.
10 Business Income of Self Employed Person
  • Investment balance below Rs. 10 million:
  • Account opening requisition on business letter head addressed to MCB-Arif Habib Savings and Investments Limited;
  • A copy of latest utility bills paid OR Rental Agreement of the business place OR Bank Statement for verification of Registered/ Business address; and
  • A copy of sales tax registration or NTN certificate, if available.
  • Investment balance equal to or above Rs. 10 million:
  • All documents as mentioned in bullet (a) to bullet (c) for investment balance below Rs. 10 million; and
  • Any documentary evidence about sources of income/funds and wealth such as copy of latest income tax return and wealth statement submitted to FBR or latest accounts of sole proprietorship, etc.
11 Income of Partner of the Partnership
  • Investment balance below Rs. 10 million:
  • Attested copy Partnership Deed.
  • Investment balance equal to or above Rs. 10 million:
  • Attested copy Partnership Deed; and
  • Any documentary evidence about sources of income/funds and wealth such as copy of latest income tax return and wealth statement submitted to FBR or latest accounts of partnership, etc.
12 Housewife receiving funds from husband/ child/ blood relative
  • Duly filled and signed KYC Form of the provider of the funds, if any;
  • Copy of identity document of the provider of the funds;
  • Documentary evidence for provider’s source(s) of income/ funds as covered in Serial No. 1 to 11; and
  • Self-declaration (of customer) for source and beneficial ownership of funds.
13 Student (18 years old or above) receiving funds from blood relative
  • Duly filled and signed KYC Form of the provider of the funds, if any;
  • Copy of identity document of the provider of the funds;
  • Documentary evidence for provider’s source(s) of income/funds as covered in Serial No. 1 to 11; and
  • Self-declaration (of customer) for source and beneficial ownership of funds.
14 Investment on behalf of Minor
  • Duly filled and signed KYC Form of the Guardian; and
  • Documentary evidence for source(s) of income/ funds of the Guardian as covered in Serial No. 1 to 11.
15 Executors and Administrators
  • Photocopy of identity document as per Paragraph No. 3 above of the Executor/Administrator;
  • A certified copy of letter of Administration or Probate;
  • A copy of latest Utility Bills paid or Rental Agreement of the business place for verification of registered address/ Business address; and
  • Documentary evidence for source(s) of income/ funds as covered in Serial No. 1 to 11.
16 Investment by Agent
  • Photocopies of identity documents as per Paragraph No. 3 above of the agent and principal;
  • Certified copy of Power of Attorney or Agency Agreement;
  • The relevant documents/papers for Institutional Investor if the agent or the principal is not a natural person;
  • A copy of latest Utility Bills paid or Rental Agreement of the business place for verification of Registered /Business address; and
  • Documentary evidence for source(s) of income/funds as covered in Serial No. 1 to 11.
  1. If payment instrument is issued by any third party in favour of the Individual Investor, then the following document shall also be provided:
  1. No Objection Declaration (NOD) from the Payment Instrument Issuer in favour of the Individual Investor;
  2. Duly filled and signed KYC Form of the Payment Instrument Issuer;
  3. Copy of identity document of the Payment Instrument Issuer; and
  4. Documentary evidence for source(s) of income/funds of the Payment Instrument Issuer.
  1. Duly filled and signed Account Opening Form along with disclosure of Beneficial Ownership and FATCA Addendum to Account Opening Form.
  2. Duly filled and signed W-8BEN-E Form of the Entity.
  3. Duly filled and signed CRS-2 Form of the Entity.
  4. In case of Passive Non-Financial Entity, duly filled and signed CRS-3 Forms of all Controlling Persons of the Entity [Passive Non-Financial Entity is the entity which earns more than 50% of its gross income through passive income e.g. interest, dividends, rents, royalties, etc. rather than through active trade or business].
  5. List of other required documents is provided below:
S.No. Nature of Account Required Documents
1 Sole Proprietorship
  • Investment balance below Rs. 10 Million:
  • A photocopy of CNIC/ SNIC/ NICOP/ SNICOP/ POC/ ARC (in case of local individuals only) or an attested* photocopy of Passport having valid visa on it or any other proof of legal stay along with Passport (in case of foreign national individuals only) of the Sole-Proprietor.
  • Account opening requisition on business letter head addressed to MCB-Arif Habib Savings and Investments Limited.
  • A copy of latest utility bills paid or Rental Agreement of the business place or Financial Statements or Bank Statement for verification of Registered/ Business address.
  • Attested* copy of registration certificate (required in case of registered concerns only).
  • A copy of sales tax registration or NTN Certificate, wherever applicable.
  • Investment balance equal to or above Rs. 10 Million:
  • All documents as mentioned for investment balance below Rs. 10 million; and
  • Any documentary evidence about annual income of the Sole Proprietorship such as copy of latest income tax return and wealth statement submitted to FBR or latest accounts, etc.

* Document can be attested by the gazetted officer (BPS-17 and above) or notary public or authorized officer/ distributor of MCB-AH.

2 Partnership
  • Photocopy of identity document as per Serial No. I (a) above of all Partners and Authorized Signatories.
  • Attested* copy of Partnership Deed.
  • Attested* copy of Registration Certificate with Registrar of Firms. In case the partnership is unregistered, this fact shall be clearly mentioned on the Account Opening Form.
  • Authority letter from all partners, in original, authorizing the person(s) to operate firm’s account.
  • A copy of latest utility bills paid or Rental Agreement of the business place or Financial Statements or Bank Statement for verification of Registered/ Business address.
  • Latest documentary evidence to justify investment amount such as Bank Statement of at least previous six (6) months or copy of income tax returns or latest financial statements, etc.

* Document can be attested by the gazetted officer (BPS-17 and above) or notary public.

3 Limited Liability Partnership (LLP)
  • Photocopy of identity document as per Serial No. I (a) above of all Partners and Authorized Signatories.
  • A certified* copy of Limited Liability Partnership Deed/ Agreement.
  • A certified* copy of LLP-Form-III having detail of partners/ designated partner in case of newly incorporated LLP or a certified copy of LLP-Form-V regarding change in partners/ designated partner in case of already incorporated LLP.
  • Authority letter signed by all partners, authorizing the person(s) to operate LLP account.
  • A copy of latest utility bills paid or Rental Agreement of the business place or Financial Statements or Bank Statement for verification of Registered/ Business address.
  • Latest documentary evidence to justify investment amount such as Bank Statement of at least previous six (6) months or copy of latest income tax return submitted to FBR or latest financial statements, etc.

* Any Authorized Person having custody of the Original document can certify these documents.

4 Limited Companies/ Corporations
  • Photocopy of identity document as per Serial No. I (a) above of all Directors and persons authorized to open and operate the account.
  • Duly certified* Register of Ultimate Beneficial Ownership maintained under Section 123A of the Companies Act, 2017 or duly signed Form-43 or duly signed letter disclosing the Individual Beneficial Owner(s) (natural person(s)) along with the photocopies of their identity documents as per Serial No. I (a) above.
  • Certified* copy of Resolution of Board of Directors for opening of account specifying the person(s) authorized to open and operate the account.
  • Certified* copy of Memorandum and Articles of Association.
  • Certified* copy of Certificate of Incorporation.
  • Certified* copy of latest Form-A/ Form-B.
  • Certified* copy of Incorporate Form II in case of newly incorporated company and Form-A/ Form-C whichever is applicable; and Form-29 in case of already incorporated companies.
  • Copy of latest available Audited Financial Statements in case of Listed Companies only.
  • Copy of latest available Financial Statements filed under the Section 234 of the Companies Act 2017 in case of other companies.
  • NTN Certificate.

* Any Authorized Person having custody of the Original document can certify these documents.
Notes
(i) The condition of obtaining Board Resolution is not necessary for foreign companies/ entities belonging to countries where said requirements are not enforced under their laws/ regulations. However, such foreign companies will have to furnish Power of Attorney from the competent authority for establishing Business Relationship to the satisfaction of the MCB-AH.

(ii) The condition of obtaining photocopies of identity documents of directors of Limited Companies/Corporations is relaxed in case of Government/ Semi Government entities, where MCB-AH will obtain photocopies of identity documents of only those directors and persons who are authorized to establish and maintain Business Relationship.

5 Trust, Clubs, Societies and Associationsetc.
  • Certified* copy of Certificate of Registration/ Instrument of Trust.
  • Certified* copy of By-laws/Rules & Regulations.
  • Resolution of the Governing Body/ Board of Trustees/ Executive Committee, if it is ultimate governing body, for opening of account authorizing the person(s) to operate the account.
  • Photocopies of identity documents as per Serial No. I (a) above of the authorized person(s) and of the members of Governing Body/ Board of Trustees/ Executive Committee, if it is ultimate governing body.
  • A copy of latest utility bills paid or Rental Agreement of the business place or Financial Statements or Bank Statement for verification of Registered address/ Business address.
  • Any other documents as deemed necessary including its latest annual accounts/ financial statements or disclosures in any form which may help to ascertain the detail of its activities, sources and usage of funds in order to assess the risk profile of the prospective customer.
  • NTN Certificate.

* Any Authorized Person having custody of the Original document can certify these documents.

6 NGOs/ NPOs/ Charities accounts
  • Certified* copy of Registration documents/ certificate.
  • Certified* copy of By-laws/Rules & Regulations.
  • Resolution of the Governing Body/ Board of Trustees/ Executive Committee, if it is ultimate governing body, for opening of account authorizing the person(s) to operate the account.
  • Photocopies of identity documents as per Serial No. I (a) above of the authorized person(s) and of the members of Governing Body/ Board of Trustees/ Executive Committee, if it is ultimate governing body.
  • Any other documents as deemed necessary including its latest annual accounts/ financial statements or disclosures in any form which may help to ascertain the detail of its activities, sources and usage of funds in order to assess the risk profile of the prospective customer.
  • A copy of latest Utility Bills paid or Rental Agreement of the business place or Financial Statements or Bank Statement for verification of Registered address/ Business address.
  • NTN Certificate.

* Any Authorized Person having custody of the Original document can certify these documents.

7 Branch Office or Liaison Office of Foreign Companies
  • A copy of permission letter from relevant authority i.e. Board of Investment.
  • Photocopies of valid passports of all the signatories of account.
  • List of directors on company letter head or prescribed format under relevant laws/regulations.
  • Certified* copy of Form-II about particulars of directors, principal officer, etc. in case of newly registered branch or liaison office of a foreign company or certified* copy of Form-III about change in directors, principal officer, etc. in already registered foreign companies branch or liaison office of a foreign company.
  • A Letter from Principal Office of the entity authorizing the person(s) to open and operate the account.
  • A copy latest Utility Bills paid or Rental Agreement of the business place or Financial Statements or Bank Statement for verification of Branch/Liaison office address.
  • Any other documents as deemed necessary including its latest annual accounts/ financial statements or disclosures in any form which may help to ascertain the detail of its activities, sources and usage of funds in order to assess the risk profile of the prospective customer.

* Any Authorized Person having custody of the Original document can certify these documents.