Circulars/Notifications - Banking Policy Department  
 BPD Circular No.19
June 25, 2003  


All Scheduled Banks,

Dear Sirs/Madam,

Printing of Cheques - Technical Specification


Instances have been noted during the recent past that paper used in printing of cheque books & security stationery do not conform to CBS-1 specifications resulting in its misuse for fraudulent purposes.

2.         In order to protect the interest of the depositors and public at large and to avoid printing of spurious cheques by unauthorized printers on sub-standard paper, it has been decided that the banks shall   take following measures immediately.

 (a)                Cheque books & security stationery shall be printed on CBS-1 paper which must conform to International Standards  & CBS-1 specifications to have protection against alteration & fraudulent attacks on the vulnerable parts of the cheques by having chemical sensitivity to following chemicals: -

 

i)

 Oxalic Acid 5%

xi).

Phenol

 

ii)

Sulphuric Acid 2.5%

xii)

Oxitol

 

iii)

Hydrochloric Acid 2N

xiii)

Petroleum Ether

 

iv)

Sodium Hydroxide 5%

xiv)

Acetone

 

v)

Calcium Hypochlorite

xv).

French Corrector

 

vi)

Peliken Eradicator

xvi)

Acetic Acid

 

vii)

Toluene

xvii)

Trichloroethylene

 

viii)

Ethanol (Alcohol)

xviii)

Carbon Tetra Chloride

 

ix)

Benzene

xix)

Chloroform

 

x)

Petrol

xx)

Butyl Acetate

           

 (b)               The paper of Cheque books and other security stationery if printed by licenced Security Printing Agencies (other than Pakistan Security Printing Corporation  (Pvt) Limited (PSPC)) shall require to be tested from PSPC, before printing of cheque books and other security stationery.

(c)                Banks shall be required to submit a certificate each year to the effect that all cheques books & security stationery printed conforms to the above specifications to Director, Accounts Department, State Bank of Pakistan within 15 days from the end of each financial year (July/June).

3.         State Bank of Pakistan during its normal course of inspection of the banks shall check the compliance of specifications & report of the laboratory tests, where applicable. SBP shall also on sample basis may carry out occasional laboratory tests for the cheques books & security stationery to ensure that the same are in conformity with the International Standards and as per above specifications.

4.         Banks are directed to comply with the above instructions within a period of six months i.e. by 31-12-2003. Any violation of above measures after said date shall attract the penal provisions under Banking Companies Ordinance, 1962.

 5.         Please acknowledge receipt.



Yours faithfully,
(Muhammad Kamran Shehzad)
Director

BPD Circulars/ Circular Letters issued in 2002
       
Home
About SBP
Publications
Economic Data
Press Releases
Circulars/Notifications
Laws & Regulations
Monetary Policy
Help Desk
SBP Videos
Feedback
Contact us
What's New?
Speeches
Online Tenders
Web Links

Educational Resources
Regulatory Returns
Library
Rupey ko Pehchano
Events
Zahid Husain Memorial Lecture
Careers
Sitemap
 
Best view Screen Resolution : 1024 * 768
Copyright © 2016. All Rights Reserved.