It has been brought to SBP notice that while applying for cheque book(s) accountholders are being insisted by some branch officials of scheduled banks to sign the acknowledgement receipt portion of the requisition slip in advance, prior to the cheque book delivery. This practice on the part of such branch officials has been viewed seriously as the same can increase the chances of frauds besides exposing the scheduled banks to potential operational risk.
2. Scheduled banks are therefore advised to desist from adopting such practice immediately by ensuring to obtain accountholder signature on the acknowledgment receipt portion of the requisition slip only at the time of cheque book delivery.
3. Any deviation or non-compliance of above instructions may attract punitive action against the delinquent bank under the relevant provisions of Banking Companies Ordinance, 1962.
4. Please acknowledge receipt.