Introduction of Standard Format of Board Resolution for Corporate Account Opening

SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN Licensing and Registration Division SEC P Corporate Registry Department No. LRD/CRDIPR(1 1)/20 17 August 2025 Circular No. 12- of 2025 Subject: Introduction of Standard Format of Board Resolution fir Corporate Account 0 I)Cfl lug In exercise of the powers conferred under Section 510 of the Companies Act, 2017 (XIX of 2017) (the "Act"), the Securities and Exchange Commission of Pakistan (the "Commission ") with the objective of standardization of format of Board resolution and seamless corporate account opening by companies, is pleased to issue circular in terms of following:
a) All companies are required to prepare resolution of the Board of Directors ("Standard Board Resolution") for the purpose of opening a corporate account with financial institution(s), as per format prescribed in Annexure-A of this circular, either in digital or physical form duly authenticated by the authorized officer. Companies may, however, modify the contents of the Standard Board Resolution template by adding or removing contents as per their specific requirements. b) The Board resolution to be submitted electronically shall be authenticated by the authorized officer of the company by affixing electronic signature or advanced electronic signature, as required under the Electronic Transactions Ordinance, 2002 (LI of 2002). It is further encouraged to embed a standard QR code on the Board Resolution to enable instant verification of its authenticity, containing the following details:
i. Name of the Company
ii. Date on which the board resolution was passed
iii. Names of directors present in the meeting
iv. Full name(s) & designation of the authorized person(s) certifying Board
Resolution
(Shahzad Afzal Khan)
Registrar of Companies
Distribution:

1. All Registered Companies.
2. The State Bank of Pakistan.
3. The Pakistan Banks Association
4. Official website for information.
5. Office copy.
   6th Floor, NIC Building, 63-Jinnah Avenue, Islamabad Website: www.seco.gov,pkX @SECPPakistan Transparency, Innovation & Progress