SCRA account

I want to get information about the Special Convertible Rupee Account Requirement for Company/Firm Accounts as well as Requirement for Individual/Joint Accounts at JS Bank. So here can you provide me information about it?

[Shaleen]

As per your demand here I am providing you information about the Special Convertible Rupee Account Requirement for Company/Firm Accounts as well as Requirement for Individual/Joint Accounts.

Special Convertible Rupee Account

SCRA is stand for Special Convertible Rupee Account.
Here I am telling you about it as you want.
JS Bank offers Special Convertible Rupee Account to cater to the needs of non-resident investors, who wish to trade freely in the shares quoted on the Stock Exchange of Pakistan (Secondary Market).


The funds available in such accounts can be transferred outside Pakistan or credited to a foreign currency account of non-resident investor maintained in Pakistan at any time without prior approvals of SBP.

However, prior to avail the services, the non-resident investors should comply with the following requirement to open their SCRA & CDC Sub Account with JS Bank.


Requirement for Company/Firm Accounts
JS Bank account opening form duly completed and signed by the authorized signatories along with company seal/rubber stamp.

Specimen signatures of the authorized signatories on the Signature cards duly verified by the company secretary.

CDC sub-account opening form duly completed and signed by the authorized signatories.

Certified copy of Certificate of Incorporation issued by the relevant authorities of resident country of the company.

Memorandum and Article of Association/by laws/charter/regulations duly certified by the company secretary

Standing instructions on company’s letterhead for debiting and crediting of SCRA against purchase and sales of shares

Board Resolution duly certified by Company secretary for opening of SCRA, CDC Sub-Accounts.

Certificate for Commencement of Business (if applicable)

Power of Attorney duly notarized & attested /consularized by Pakistan Embassy in customer’s resident country

Fax indemnity duly notarized & attested /consularized by Pakistan Embassy in customer’s resident country.

Copy of list of directors issued from the Registrar of Companies duly certified by the company secretary.



Requirement for Individual/Joint Accounts

S Bank account opening form duly completed and signed by applicant in Section “A”. Name and Address of next of kin must be filled and signed in relevant section of account opening form.

Broker account opening form duly completed and signed.


In case of joint account, section “B” of account opening form duly filled with proper instructions for account operations i.e. either or both along with the signatures.

Power of Attorney duly notarized & attested /consularized by Pakistan Embassy in customer’s resident country – (If required)

Fax indemnity duly notarized & attested /consularized by Pakistan Embassy in customer’s resident country.

Standing instructions for debiting and crediting of SCRA against purchase and sales of shares on behalf of customer

Certified (Notarized) true copies of valid passport / NICOP. In case of diplomat, copy of Diplomatic ID

CDC sub-account opening form duly completed and signed.