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SEMESTER SPRING 2016
BANKING LAWS & PRACTICES (BNK601)
ASSIGNMENT # 01
DUE DATE: 26th JULY 2016 MARKS: 10
• To understand the various types of Banker-Customer Relationships.
• To get acquaintance with the precautions observed by Banks while handling with Illiterate / Photo Accounts.
SCENARIO # 1 (5 MARKS)
Mr. Zain Ahmed, a student of B.S. - Economics, has recently passed his course work successfully, and has been registered as an Intern in ABC Bank Limited, Gulberg branch, Lahore.
Due to his limited relevant knowledge, you being the student of Banking Laws and Practices are required to briefly guide him about all possible types of Banker-Customer relationships so that he may perform well in his Internship report and viva voce.
SCENARIO # 2 (5 MARKS)
Amanat, an illiterate person, earns his livelihood by way of trading of fruits and eatables. For savings purpose, he intends to open an Individual Savings account with a nearby branch of Meezan Bank.
Keeping above in view, you are required to explain the extra precautions/measures bank must exercise while opening the account of Illiterate persons, which otherwise are not taken normally in case of Literate persons? Moreover, what are the limitations/restrictions on such type of accounts?
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