Terms & Conditions:

• I / We hereby agree and undertake to comply with the State Bank of Pakistan Regulations relating to the investor Portfolio Security Accounts (IPS) at all times.
• I / We agree and undertake that your participation in the auction on my / our behalf, buy or sale securities i.e. Pakistan Investment Bonds and Market Treasury Bills of any tenor or any other such security issued by the State Bank of Pakistan from time to time on behalf of the Government of Pakistan through your bank will be at my / our sole cost and responsibility.
• I / We agree and undertake to furnish all required documentation and payment at least two working days prior to the announced Auction Date. Further agree and undertake to furnish all required documentation and payment through respective branch or bank’s hub branches / offices before 11.00 am on deal date on buy / sell of securities from your bank.
• I / We agree and undertake to furnish all required documentation through respective branch or bank’s hub branches / offices before 11.00 am on movement of my / our securities from IPS Account to another bank or from another bank to our IPS A/c. with you.
• I / We will be responsible for all taxes that are payable arising out of the investment agreement, subject to the then prevailing Government Regulations. Further we undertake to provide NTN number of the beneficiary of the security at the time of opening of IPS Account failing which deductible tax will be deposited in to Miscellaneous account as per FBR practice without any liability on the part of MCB Bank Limited.
• I/We agree to submit valid tax exemption certificate, if any, at-least five days before maturity of securities or profit coupons failing which MCB Bank Limited shall not be held responsible in any manner if they submitted claims with the State Bank of Pakistan on maturity of securities or profit coupons.
• I / We acknowledge the fact that the investment requested by me / us for placement in the IPS A/c. will be made available to me at the sole discretion of MCB and State Bank of Pakistan.
• I would be liable to pay applicable charges as outlined in the Schedule of Bank Charges, which may be revised from time to time.
• MCB Bank Limited shall not be held responsible in any manner whatsoever to any person (s), including but not limited to, the customer(s), beneficiary or any third party, with respect to my investment.
• I / We hereby agree that profit rate on my investment will be announced by State Bank of Pakistan on their discretion.
• I / We hereby agree that my investment will be held in scrip-less form and I will not be issued any certificate against my investment amount.
• I / We hereby agree that my investment bears profit / Interest-rate risk, due to which any changes in policy rates may affect the value of my investment prior to maturity.
• I / We hereby agree that in the event I request for my investment to be liquidated prior to maturity, my encashment value may be less than my initial invested principal.
• I / We hereby agree that the bank will not entertain my / our request for encashment or transfer of securities during shut period before maturity of securities or profit coupons.
• I/We hereby agree that in case my application & payment is not received by the authorized staff of MCB Bank within the stipulated time, my application will be returned to me without any liability on the part of MCB Bank Limited.
• I/We agree that all the information provided by me/us in the Application Form is equal in importance, will be integral part of my agreement with MCB that in case MCB processes this application, it will be doing so on the basis and replying upon all the information provided by me in this application form. Also that in case any information provided turns out to be omitted, or inaccurate or materially inaccurate, I would be liable for any losses borne by MCB Bank acting on my instructions.

DECLARATION

I / We certify that I / We have carefully read and understood the terms and conditions and will abide by the same.