Young Savers

AL Habib
Date:
ACCOUNT
Bank AL Habib Limited Branch Code Account Number (For Bank Use Only)
_ _ _
Branch
IBAN _ _ _ _ _
Number:

ACCOUNT OPENING FORM FOR YOUNG SAVERS

Title of Account:
Young Saver’s Name: (MINOR) Guardian’s Name: (GUARDIAN)

Mailing Address:
City/District: Province/State: Country:
Permanent Residential Address:
City/District: Province/State: Country:
Relationship with the Young Saver: Father, Mother, By Court Order, Other (specify) Zakat Exemption: Yes No
(If yes, enclose affidavit/declaration)
Initial Deposit: Rs.

Name (as on CRC/CNIC)

Father’s/Husband’s Name
Mother’s Maiden Name Mother’s Maiden Name
Gender & Mother’s Maiden Name Male Female Male Female
CRC Registration No. CNIC No.
CRC Registration/CNIC Number
Date (dd-mm-yy) Nationality Date (dd-mm-yy) Nationality
Date of Birth & Nationality

Occupation Student None Other (specify) Salaried Self-Employed Other (specify)

School Employer/Business
Name & Address of School/
Employer/Business
Home Office
Telephone Number(s)
E-mail

E-STATEMENT REQUEST

E-mail Address:
(Please Specify Underscore “_” or Dash “-” as and where necessary)
I also request that all statements of account be sent to my above email address on the followig frequency:
Guardian’s Name
Monthly Quarterly Half Yearly Other (specify)
Please send do not send hard copy statements of account to our addres &
I undertake to inform the Bank immediately if my email address mentioned is changed or in any way compromised. Guardian’s Signature

Guardian’s Source of Funds: Salary Business Stock/Investment

Home Remittances Agriculture/Real Estate Other (specify)
Young Saver’s Source of Funds: Pocket Money Gifts Other (specify)
Purpose of Account: Personal Saving Usual Mode of Transaction: Cash Cheque ATM/Debit Card
Are you a Public Figure (or his/her Close Relative)? Yes No

DECLARATION & AUTHORISATION OF GUARDIAN

I request you to open an account with Bank AL Habib Limited ("the Bank") as per details provided above, which I confirm are true and correct in all respects. I agree to
provide any document(s) required by the Bank for opening the account and to abide by the current rules and policies of the Bank for the conduct of such account.
I have received a copy of the Account Opening Form and Rules of Account, which have been read and signed by me. I agree with these Rules and also agree to be
bound by them as amended by you from time to time. I agree to inform you of any changes in the information provided in this Form or in related documents. This request
when accepted by the Bank will be deemed to be an agreement between the Bank and me and the completed sections of this Form shall be treated as an integral and
indivisible part of the same. It is understood that this account will be used for bona fide transactions of the Young Saver. I agree to be liable for any debts due to you
which you may permit on this or any other account in my name. I solemnly declare that I have not been refused banking facilities by any other bank before approaching
you for opening of the account.
I shall represent the Young Saver in all future transactions of any description in the above account till the said Young Saver attains majority i.e., 18 years of age. I hereby
fully indemnify the Bank against any claim of the above Young Saver for any withdrawal/transaction made by me in the account.
I request you to please issue me an ATM/Debit Card and allow me Internet Banking facilities. My name on the ATM/Debit Card should appear as shown below.
ATM/Debit Card for Young Saver I also specifically authorize the Bank to issue, at its discretion, ATM/Debit Card in the name of the Young Saver, at my sole risk
and responsibility, as per Rule 19 overleaf. The Young Saver’s name on the ATM/Debit Card should appear as shown below.
I agree that ATM/Debit Card(s) issued to me and/or the Young Saver will be governed by the Bank’s prevailing rules for such cards as mentioned in Application Form
duly signed by me.
Internet Banking I agree that Internet Banking facility provided to me will be governed by the Bank’s prevailing rules for such facility as mentioned in Application
Form duly signed by me.
Guardian’s Name Young Saver’s Name
Young Saver’s
Guardian’s
Signature/Left
Signature Thumb impression
(Also to be used as specimen signature.) (For information only, not for operating the account.)

For Bank Use Only: Guardian’s Signature Admitted By: Sig. No. Date:
DEP-46 (9-13)
 RULES OF ACCOUNT
1. Any person(s) opening or operating an account with Bank AL Habib Limited (Bank) will be deemed to have read, understood and accepted each of the Rules of Account
set forth herein and the applicable Schedule of Bank Charges as issued and amended from time to time by the Bank. The Bank reserves the right to amend these Rules
from time to time by advising the account holder in writing or by display in the premises of the Bank’s branches.
2. Young Savers Account is a saving account in the name of a minor (the Young Saver) and beneficially owned by him/her, which can be opened and operated by his/her
guardian. The title of account shall be “Young Saver’s Name (MINOR), Guardian’s Name (GUARDIAN)” until the Young Saver attains majority, i.e., 18 years of age. Till
that time, for the purpose of these Rules, the guardian will be treated as the “account holder”.
3. The account holder acknowledges that Young Savers Account is a minor’s account and the guardian will be responsible to operate the account until the minor attains majority.
4. The Bank reserves the right to close, without prior notice, any account which in its opinion is not being satisfactorily conducted/operated upon, or for any other reason
whatsoever, which the Bank shall not be obliged to disclose to the account holder. Proceeds of the balance shall be sent by Payment Order to the account holder address.
5. The account holder will also be required to provide proper identification in the form of Computerized National Identity Card (CNIC).
6. All accounts maintained with the Bank are governed by and subject to the policies of the Bank in force from time to time and all applicable circulars, orders, directives, rules,
regulations, decrees and restrictions issued by the State Bank of Pakistan and other competent governmental and regulatory authorities in Pakistan.
7. The account holder should immediately advise the Bank as soon as he/she leaves the country for residence abroad. On receipt of such information, the account will be re-
designated as a non-resident account and all deposits and withdrawals will be subject to the State Bank of Pakistan rules and regulations applicable from time to time with
regard to non-resident accounts.
8. Any change in the address of the account holder should immediately be communicated to the Bank in writing. The Bank shall not be liable to the account holder for any
direct or indirect loss or damage caused as a result of the failure of the account holder to send an intimation in writing of a change in address.
9. The account holder shall be liable to pay commission and all other applicable costs and charges as required and determined by the Bank from time to time. The Bank
reserves the right without prior notice to the account-holder to debit the account for any expenses, fees, commission, markup/interest, Zakat, withholding tax, stamp duty,
excise duty or any other costs, charges, expenses, taxes or duties arising out of any transactions or operations in the account or dealings with the Bank or payable to the
provincial or federal government as may be levied from time to time.
10. The Bank is authorized to make disclosures in respect of the account as may be required by any court order or competent authority or agency under the provisions of
applicable laws and/or otherwise to safeguard the interests of the Bank.
11. If the Bank should retain advocates/lawyers to enforce any of its rights or take other steps concerning the account, the account holder shall pay to the Bank all costs, charges,
fees and expenses incidental thereto on a full indemnity basis and the Bank shall be entitled to debit the account for such costs, charges, fees and expenses.
12. The Bank shall issue periodical statements of account or make this available through Internet Banking to the concerned account holder. The account holder will notify the
Bank in writing of any error, irregularities or omissions that may be discovered, among other things, improper debits and instruments that are altered, that have missing
signatures and/or bear forged or unauthorized signatures within 45 days of the Bank mailing the statement. In case of failure to notify the Bank within the specified period
it will be considered that the balance in the account and transactions reflected in the account have been finally and conclusively accepted by the account holder, and the
account holder releases the Bank, its officers, employees and agents from all claims in connection with the statement and any items reflected in the statement.
13. Accounts in which no transaction is done for a period of one year are marked “Dormant”. Dormancy Condition can only be removed if the account holder visits the
branch personally with identity documents as per regulatory requirements and conducts a transaction (deposit or withdrawal) on the account the same day. Those accounts
that remain inoperative for a period of ten years shall be classified as "Unclaimed" and surrendered to the State Bank of Pakistan as per provisions of the Banking Companies
Ordinance. If the account shows zero balance for six months it will be closed.
14. The account holder hereby indemnifies and holds the Bank harmless at all times and from time to time from and against all losses, liabilities, damages, demands, actions,
suits, proceedings, accounts, claims, costs, charges, fees and expenses that the Bank may incur, sustain or be put to including without limitation, legal fees and disbursements
reasonably incurred by the Bank, arising from the Bank acting or not acting upon any instruction or information given to the Bank in accordance with these Rules. This
indemnity will be in addition to any other indemnity or assurance against loss that the account holder may provide to the Bank.
15. The Bank may at any time(s) in its discretion and without notice assert a lien and/or exercise a right of set off on any balance outstanding to the credit of the account and
apply any part thereof to reduce any indebtedness of whatsoever nature that may be owing to the Bank in the name of the account holder.
16. The Bank will not act as a trustee in respect of this account.
17. The Bank shall determine from time to time the rate of return/profit payable on the account/deposit in accordance with the prevailing rules and regulations of the State Bank
of Pakistan and the policies of the Bank which are subject to change and the account holder agrees to accept such rate of return/profit.
18. When the Young Saver attains majority, i.e., 18 years of age, the balance in the account will be transferred to a new account and profit will be paid according to that offered
on that PLS Account/Product which he/she chooses to open after completing the required formalities including concurrence of the guardian.
19. ATM/Debit Card may be issued in the name of Young Savers of 16 years and more, as and when the balance in the account exceeds Rs. 10,000/=.The Young Saver will
be allowed to withdraw maximum of Rs. 2,000/= in one calendar day. The aforesaid limits on age and amount can be changed at the discretion of the Bank.
20. The account will be governed by the laws and regulations of the Islamic Republic of Pakistan. As regards other matters, not specifically mentioned in these Rules, these
will be subject to prevailing rules of the Bank.
21. In case of death of the guardian, any further operation in the account will be permitted only in terms of a valid certificate/letter/order issued by a competent court of law.
22. The Bank will not be responsible for any liability, damages, demands, or expenses that the account holder may incur due to the Bank acting or failing to act upon any
instruction or information received. The Bank will not in any event be liable for any incidental, consequential, or indirect damages, or for loss of profit.
23. If any clause of these Rules is found by a court or any other competent governmental/regulatory authority to be void or unenforceable, that clause will be severed without
affecting any other provisions of these Rules.
24. All sums for credit to an account should be accompanied by a deposit slip showing the name and number of the account to be credited. Acknowledgment of receipt of cash
and instruments will be valid if printed by the Bank's System or signed and stamped by the Bank's Officer. The depositor should satisfy himself that the transaction is so
verified on the customer's copy of the deposit slip. All cheques and other instruments should be crossed before they are paid in for credit to an account.
25. When not in use, cheque books/forms should be kept under lock and key. Loss of a cheque book or any of the cheque forms should immediately be notified to the Bank in
writing. Failure to notify the Bank will automatically discharge the Bank from all liabilities. The Bank shall take all reasonable steps to comply with timely requests for stop
payment of cheques.

COPY RECEIVED AND ACCEPTED. Signature of Guardian Date

FOR BANK USE ONLY

Checklist of Required Documents Y/N Account Opening Officer’s Certificate
1. Attested copy of Young Saver’s birth certificate and CRC. I have checked this AOF and the required documents and certify that these are
in order. I also certify having verified the identity of the guardian and genuineness
2. Attested copy of guardian’s CNIC.
of the CNIC from NADRA on-line system, and having seen the original identification
3. Proof of guardian’s relationship with Young Saver documents.
(Attested copy of Birth Certificate, CRC, or Court Order)
Name & Signature: Sig. No.
4. Zakat exemption affidavit or declaration, as applicable.
Branch Manager’s Approval
5. Rules of Account, duly signed.
6. Guardian’s employment/ business verified.
7. Guardian’s signature on AOF verified and admitted. Name & Signature: Sig. No.

TO BE COMPLETED BY CPU

Received at Letter of thanks

CPU on: sent on: Processed By:
(Name & Signature)

Authorized By: Scanned By:

(Name & Signature) (Name & Signature)