Please refer to Prudential Regulations M-1 which requires minimum set of documents to be obtained by banks/ DFIs for opening bank accounts of various categories of customers. The requirement of documents for opening of a bank account for Joint Stock Companies, interalia, includes attested photocopies of identity cards of all the directors.

2. The matter has been reviewed in the light of representation of banks and it has been decided that banks should obtain copies of CNICs of all the members of Governing and Executive Bodies of DHA or ask for delegation of power to Administrator under section (7) & (8) of the Pakistan Defence Housing Authority Order, 1980 and accept copy of CNIC of Administrator as well as authorized signatories for the purpose of opening accounts of DHA or similar other authorities subject to the condition that all other requirements laid down under PR-M1 shall be complied with in letter and spirit.

3. The existing accounts of DHA or similar other authorities, shall be regularized on the above lines within a period of three months from the issuance of this circular letter.

4. All other instructions on the subject shall, however, remain unchanged.

5. Please acknowledge receipt.