The Presidents/Chief Executives

All Banks/Financial Institutions

Dear Sir/Madam,

Standardization of Customer’s Cheque Layout

It has been decided by SBP to implement a uniform standard for cheque printing as per the specimen attached at Annexure-I across the banking industry in Pakistan latest by 30th June, 2014. These guidelines prescribe standards relating to the layout of cheques. For minimum requirements in respect of security features and printing techniques, banks are required to follow CPD Circular No. 1 of 2014.

All Banks / Financial Institutions are therefore advised to meticulously comply with the following instructions:

1. New cheque books should be printed as per the new standard upon the exhaustion of existing stock or by the above deadline of 30th June, 2014, whichever comes earlier;
2. Only the cheque book printed as per the new standard, should be issued to the customers after 30th June, 2014;
3. Banks / Financial Institutions are advised to take all possible steps for creating awareness and educating their customers and staff about the new standards and instructions contained in this circular;
4. Banks should encourage their customers to replace their old unused stock of cheque with new standardized cheque books;
5. In order to avoid MICR line of cheques from defacement, all Banks / Financial Institutions must ensure that clearing stamps are affixed on the reverse side of the cheque instead of affixing it on the face (obverse side), so that no material part of the cheque is defaced; and
6. Notwithstanding any instructions issued by the SBP, banks are advised to ensure that the size of stamp is in accordance with the requirements of new standards.

Non-compliance of the above instructions shall be dealt with in accordance with the relevant provisions of the law.

Please acknowledge receipt.

Encl: Standardization of Customer’s Cheque Layout (Annex-I containing 13 pages)