Foreign Remittances,n.k.i.a.
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BANK ALFALAH LIMITED Audit & Inspection Division, Head Office, Karachi.
NORTH KARACHI INDUSTRIAL AREA
BRANCH AUDIT PERIOD
From : To :
01.04.08 27.04.09
FOREIGN REMITTANCES DEPARTMENT Exceptions / Recommendations Compliance / Remarks Inward Remittances -
-
Following cases were noted where contradict was noted in purpose of remittance between swift message and due diligence form. Purpose Purpose mentioned mentioned in Account # Customer Amount in the swift the due message diligence form 01000305
Asim Ahmed
USD 30,000
01032957
Muhammad Aqeel
USD 29,971
02003117
Muhammad Rizwan
USD 29,971
Purchase of goods
Capital Investment
Business Investment Business Investment
Other private transfer Other private transfer
Following case was noted where relationship with remitter is not mentioned in the due diligence form. Account # 01000305
Customer Asim Ahmed
Amount USD 30,000
L
Revised diligence obtained
L
In the following cases commercial remittance has been credited in personal F/C account. Due diligence form has also not been obtained Date of Remittance Account # Customer Amount remittance received from Unitex Mehtabuddin 01800656 *USD 9,990 07.07.08 International Chawla INC Unitex Mehtabuddin 01800656 USD 4,990 06.08.08 International Chawla INC * USD 6,600/ has been utilized for realization of export bill on 11.07.08
H
-
Following cases were noted where purpose of remittance is not mentioned in the swift message Account # Customer Amount Date of remittance 01019828 Teepo Industries EURO 3,490 09.07.08 01800652 Nadeem Ahmed USD 11, 923 30.09.08
M
-
In the following cases commercial remittance has been credited in personal account. Purpose of remittance is not mentioned in the swift message; in due diligence form purpose is mentioned as other private transfer. Date of Remittance Account # Customer Amount remittance received from Parksun Muhammad 01032092 EURO 13,011 24.07.08 Garments Zahid Khan Ltd.HongKong Muhammad Richard Haworth 01015722 GBP 14,110 13.08.08 Suleman Shabu Ltd.Manchester
H
Many cases were noted where inward remittances were not credited in customer’s account within 72 hours (as required by SBP). Refer few cases Account # 01010227 01800653 01800596
Customer Excell Health Lab.Ltd. Ghulam Mustafa Seema Kamran
Date of remittance received
Date of credit
USD 6,975
24.09.08
30.09.08
USD 2,087 USD 1,087
11.10.08 07.11.08
17.10.08 11.11.08
Amount Care
now
Date of remittance 12.06.08
-
-
Rectified, relationship mentioned.
due form
M Swift MT-103 received late from swift department,
We were waiting for R-form
BANK ALFALAH LIMITED Audit & Inspection Division, Head Office, Karachi.
FOREIGN REMITTANCES DEPARTMENT Exceptions / Recommendations Compliance / Remarks 01800653 Ghulam Mustafa USD 4,000 01032074 Darus-Shifa Foundation USD 2,412 01800653 Ghulam Mustafa USD 1,072 01033108 J.K.Textiles EURO 2,610 -
NORTH KARACHI INDUSTRIAL AREA
BRANCH AUDIT PERIOD
23.12.08 20.03.09 21.02.09 04.02.09
From : To :
29.12.08 24.03.09 24.02.09 09.02.09
Due-diligence form has not been obtained Account #
Customer
01800652 01010227 0103339 0103339 0103339
Nadeem Ahmed Excell Health Care Lab.Ltd. Inspatech Services Inspatech Services Inspatech Services
01.04.08 27.04.09
L Amount USD 11, 923 USD 6,975 USD 12,738 USD 14,626 USD 8,429
Date of remittance received 30.09.08 30.09.08 30.12.08 23.04.09 15.01.09
Now Obtained.
OUTWARD REMITTANCES -
-
In the following case remittance against agent commission has been made copy of agency agreement is not found on branch record (Para 32 ii, Chapter XII of FEM). Date of remittance Account # Customer Amount effected 01001873 Saleem Textiles USD 9,416 18.11.08 01001873 Saleem Textiles USD 10,952 16.12.08 01001873 Saleem Textiles EURO 3,240 17.12.08 01800657 Al-Karam Towel Industries USD 122 18.12.08 01001873 Saleem Textiles USD 10,000 28.12.08 01033031 Ghazali Textile Industries EURO 469 12.10.09 01800657 Al-Karam Towel Industries USD 25,140 14.01.09 01800657 Al-Karam Towel Industries USD 3,573 06.02.09
M
Following cases were noted where outward remittance was affected from Pak Rupees account. Documentary evidence (Invoice) is not obtained. Date of Purpose of Account # Customer Amount remittance remittances effected Lab Testing 01033108 J.K.Textiles USD 1,020 10.02.09 charges Product Al-Karam Towel 01024450 USD 620 20.02.09 liability Industries insurance Al-Karam Towel Lab Testing 01024450 USD 1,090 20.02.09 Industries charges Lab Testing 01033108 J.K.Textiles USD 646 28.02.09 charges Al-Karam Towel Design 01024450 USD 380 09.04.09 Industries Charges
H
Now obtained
NORTH KARACHI INDUSTRIAL AREA
BRANCH AUDIT PERIOD
From : To :
01.04.08 27.04.09
FOREIGN REMITTANCES DEPARTMENT Exceptions / Recommendations Compliance / Remarks Inward Remittances -
-
Following cases were noted where contradict was noted in purpose of remittance between swift message and due diligence form. Purpose Purpose mentioned mentioned in Account # Customer Amount in the swift the due message diligence form 01000305
Asim Ahmed
USD 30,000
01032957
Muhammad Aqeel
USD 29,971
02003117
Muhammad Rizwan
USD 29,971
Purchase of goods
Capital Investment
Business Investment Business Investment
Other private transfer Other private transfer
Following case was noted where relationship with remitter is not mentioned in the due diligence form. Account # 01000305
Customer Asim Ahmed
Amount USD 30,000
L
Revised diligence obtained
L
In the following cases commercial remittance has been credited in personal F/C account. Due diligence form has also not been obtained Date of Remittance Account # Customer Amount remittance received from Unitex Mehtabuddin 01800656 *USD 9,990 07.07.08 International Chawla INC Unitex Mehtabuddin 01800656 USD 4,990 06.08.08 International Chawla INC * USD 6,600/ has been utilized for realization of export bill on 11.07.08
H
-
Following cases were noted where purpose of remittance is not mentioned in the swift message Account # Customer Amount Date of remittance 01019828 Teepo Industries EURO 3,490 09.07.08 01800652 Nadeem Ahmed USD 11, 923 30.09.08
M
-
In the following cases commercial remittance has been credited in personal account. Purpose of remittance is not mentioned in the swift message; in due diligence form purpose is mentioned as other private transfer. Date of Remittance Account # Customer Amount remittance received from Parksun Muhammad 01032092 EURO 13,011 24.07.08 Garments Zahid Khan Ltd.HongKong Muhammad Richard Haworth 01015722 GBP 14,110 13.08.08 Suleman Shabu Ltd.Manchester
H
Many cases were noted where inward remittances were not credited in customer’s account within 72 hours (as required by SBP). Refer few cases Account # 01010227 01800653 01800596
Customer Excell Health Lab.Ltd. Ghulam Mustafa Seema Kamran
Date of remittance received
Date of credit
USD 6,975
24.09.08
30.09.08
USD 2,087 USD 1,087
11.10.08 07.11.08
17.10.08 11.11.08
Amount Care
now
Date of remittance 12.06.08
-
-
Rectified, relationship mentioned.
due form
M Swift MT-103 received late from swift department,
We were waiting for R-form
BANK ALFALAH LIMITED Audit & Inspection Division, Head Office, Karachi.
FOREIGN REMITTANCES DEPARTMENT Exceptions / Recommendations Compliance / Remarks 01800653 Ghulam Mustafa USD 4,000 01032074 Darus-Shifa Foundation USD 2,412 01800653 Ghulam Mustafa USD 1,072 01033108 J.K.Textiles EURO 2,610 -
NORTH KARACHI INDUSTRIAL AREA
BRANCH AUDIT PERIOD
23.12.08 20.03.09 21.02.09 04.02.09
From : To :
29.12.08 24.03.09 24.02.09 09.02.09
Due-diligence form has not been obtained Account #
Customer
01800652 01010227 0103339 0103339 0103339
Nadeem Ahmed Excell Health Care Lab.Ltd. Inspatech Services Inspatech Services Inspatech Services
01.04.08 27.04.09
L Amount USD 11, 923 USD 6,975 USD 12,738 USD 14,626 USD 8,429
Date of remittance received 30.09.08 30.09.08 30.12.08 23.04.09 15.01.09
Now Obtained.
OUTWARD REMITTANCES -
-
In the following case remittance against agent commission has been made copy of agency agreement is not found on branch record (Para 32 ii, Chapter XII of FEM). Date of remittance Account # Customer Amount effected 01001873 Saleem Textiles USD 9,416 18.11.08 01001873 Saleem Textiles USD 10,952 16.12.08 01001873 Saleem Textiles EURO 3,240 17.12.08 01800657 Al-Karam Towel Industries USD 122 18.12.08 01001873 Saleem Textiles USD 10,000 28.12.08 01033031 Ghazali Textile Industries EURO 469 12.10.09 01800657 Al-Karam Towel Industries USD 25,140 14.01.09 01800657 Al-Karam Towel Industries USD 3,573 06.02.09
M
Following cases were noted where outward remittance was affected from Pak Rupees account. Documentary evidence (Invoice) is not obtained. Date of Purpose of Account # Customer Amount remittance remittances effected Lab Testing 01033108 J.K.Textiles USD 1,020 10.02.09 charges Product Al-Karam Towel 01024450 USD 620 20.02.09 liability Industries insurance Al-Karam Towel Lab Testing 01024450 USD 1,090 20.02.09 Industries charges Lab Testing 01033108 J.K.Textiles USD 646 28.02.09 charges Al-Karam Towel Design 01024450 USD 380 09.04.09 Industries Charges
H
Now obtained
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