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Non Profit Resolution To Open Bank Account for Pakistan

Non Profit Resolution To Open Bank Account Template for Pakistan

A Non-Profit Resolution to Open Bank Account is a formal document required under Pakistani law that authorizes the establishment of a banking relationship between a non-profit organization and a banking institution. This document, governed by Pakistani banking regulations and non-profit laws, serves as official proof of the organization's decision to open a bank account and designates authorized individuals to conduct banking transactions. It includes specific details about the organization, the type of account to be opened, authorized signatories, and the extent of their banking powers, all in compliance with State Bank of Pakistan guidelines and local banking regulations.

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What is a Non Profit Resolution To Open Bank Account?

The Non-Profit Resolution To Open Bank Account is a crucial document required by Pakistani banks and regulatory authorities when a non-profit organization wishes to establish banking operations. This resolution demonstrates the organization's official decision-making process and compliance with both banking and non-profit regulations in Pakistan. It is typically drafted after a formal meeting of the organization's governing body and must include specific details about the authorized signatories, their powers, and the type of account being opened. The document is essential for non-profits registered under either the Societies Registration Act 1860 or Section 42 of the Companies Act 2017 and must align with State Bank of Pakistan's requirements for organizational bank accounts. This resolution serves as a key reference document throughout the organization's banking relationship and may need to be updated as authorized personnel or banking requirements change.

What sections should be included in a Non Profit Resolution To Open Bank Account?

1. Header and Organization Details: Organization name, registration number, registered address, and date of resolution

2. Meeting Details: Type of meeting (board/general), date, time, location, and quorum confirmation

3. Preamble: Statement confirming the meeting was duly convened and authority to pass the resolution

4. Resolution Statement: Main resolution text stating the decision to open a bank account

5. Bank Details: Name and branch of the chosen bank where account is to be opened

6. Account Type: Specification of the type of account to be opened (current/savings)

7. Authorized Signatories: Names, designations, and signing authority levels of designated individuals

8. Banking Powers: List of specific banking operations and transactions authorized persons can perform

9. Authentication: Signatures of the chairman/secretary and other required officials to certify the resolution

What sections are optional to include in a Non Profit Resolution To Open Bank Account?

1. Operating Instructions: Specific instructions for operating the account (use when special operating conditions are required)

2. Digital Banking Services: Authorization for internet/mobile banking services (include when organization wants digital access)

3. Foreign Currency Dealings: Authorization for foreign currency transactions (needed if organization deals internationally)

4. Additional Account Provisions: Special provisions for subsidiary accounts or specific project accounts (if required)

5. Borrowing Powers: Authorization for obtaining loans or overdraft facilities (if such powers are needed)

What schedules should be included in a Non Profit Resolution To Open Bank Account?

1. Schedule A - Authorized Signatories Details: Detailed list of authorized signatories with their full names, designations, CNIC numbers, specimen signatures, and photographs

2. Schedule B - Banking Powers Matrix: Detailed matrix showing transaction limits and specific powers granted to each authorized signatory

3. Schedule C - Required Documents: List of supporting documents to be submitted to the bank (organization registration certificate, tax documents, IDs of signatories)

4. Appendix 1 - Board Members List: Current list of board members who were present during the resolution approval

5. Appendix 2 - Organization Registration Documents: Copies of organization's registration certificates and constitutional documents

Authors

Alex Denne

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

Jurisdiction

Pakistan

Publisher

Ƶ

Document Type

Board Resolution

Cost

Free to use
Relevant legal definitions

























Clauses




















Relevant Industries

Education

Healthcare

Religious Organizations

Social Services

Environmental Conservation

Poverty Alleviation

Arts and Culture

Sports Development

Research and Development

Community Development

Disaster Relief

Child Welfare

Women Empowerment

Agricultural Development

Humanitarian Aid

Relevant Teams

Finance

Legal

Administration

Compliance

Operations

Executive Leadership

Board of Directors

Governance

Treasury

Corporate Affairs

Relevant Roles

Executive Director

Board Member

Chairman

President

Secretary

Treasurer

Finance Manager

Chief Financial Officer

Program Director

Administrative Officer

Compliance Officer

Legal Counsel

Operations Manager

Account Manager

General 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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