In order to facilitate the IT sector entities licensed by Special Technology Zones Authority (STZA) and to provide them complete solution for all their financial needs Allied Bank presents Special Technology Zone Account with an objective to provide a unique and most suitable Banking Product.
The account can be opened by visiting the branch.
Account Type
Current
Entities: Licensed by Special Technology Zones Authority (STZA) Under the Special Technology Zones Authority Ordinance,2020.
Documentation
- Registration certificate/ License issued by Special Technology Zone Authority
- Memorandum of Association (MOA)
- Articles of Association (AOA)
- Certificate of Incorporation
- Incorporation Form II (In case of newly incorporated company only)
- Latest ‘Form-A (Annual Return of Company having Share Capital) / Form-B (Annual Return of Company not having Share Capital) (whichever is applicable) (In case of already incorporated company only)
- Form 29 (Particulars of directors and officers, including the chief executive, secretary, chief financial officer, auditors and legal adviser or any change therein. In case of already incorporated company only)
- Form-C (Annual Return of Companies in case there is no Change of Particulars since Last Annual Return filed with the Register) (where applicable) (In case of already incorporated company only)
- SECP registered Declaration for Commencement of Business as required under Companies Act 2017 (In case of Public Limited Companies only).
- Issuance of Cheque Book
- Debit Card is not allowed
- E- statement
| Debit Allowed | Credit Allowed |
| ·The funds available in such foreign currency accounts may be used by the account holders for making all types of business-related legitimate payments abroad without any limitation and without any approval from SBP
·Cash withdrawal in shape of FCY is not allowed ·Cash Withdrawal in shape of PKR is allowed ·In case any local payment is required to be made from Special Foreign Currency Accounts by such entities, the same shall be allowed after converting the funds, available in such accounts, into PKR through inter-bank market. |
.Account can be fed with any proceeds in favor of the entity/account holder, originating from abroad in form of Foreign Remittance.
·No cash deposit is allowed. ·The foreign remittance credited in account can be foreign borrowing, proceeds from exports of goods & services, foreign equity, earnings/profits of overseas offices/subsidiaries/Associates established through funds from these accounts, without the requirement of conversion into PKR.
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Note:
In case sufficient funds are not available in Special Foreign Currency Accounts of such entities/account holders, with any Bank in Pakistan, for making any legitimate payment abroad in foreign exchange, these entities/account holders are allowed to make entire payment of the underlying transaction by purchasing foreign exchange from interbank market, subject to compliance with applicable Foreign Exchange Manual. However, Entity/accountholders shall submit an undertaking to Bank to the above effect. (Format “Annexure A” link attached below).