Central Depository Company (CDC) has made it mandatory for account holders to provide International Bank Account Numbers (IBAN) as part of the registration details for existing and new accounts in the Central Depository System (CDS).
Read More: SECP Seeks Feedback on Draft Regulations for Company Dividends via Online Transfer
As per Section 242 of the Companies Act, 2017, all listed companies are required to pay cash dividend directly into the bank accounts of their shareholders electronically.
For companies to comply with this requirement and to make this process efficient, it has become pertinent that International Bank Account Number (IBAN) of investing public are available to facilitate easy payment of cash dividends electronically.
This amendment will facilitate the electronic payment of cash dividends directly into the bank accounts of shareholders, making the process more transparent, efficient, and in line with international best practices.
Read More: CDC Introduces Centralized E-IPO System
CDC has advised the investors to provide the IBAN number of Title Holder of the (CDS) account to CDC and for physical securities to their respective Registrars latest by October 31, 2017.
2015 Se Jo Account Open Ho Raha hai (Means Main Ne Karwaya) to Bank Account Number K Sath IBAN Number Bhi Provide Kar Raha hai, Cheque Pe Bhi Likha Howa hai :
Ab Bank Wale Khud User Ko IBAN Lene Ka Bolte hai Agar Apka Nahi Hai To :
Ye Mandatory Ab Samajh Se Bahar Hai : Shayad He 10% Bhi Log Honge Jinka IBAN Number Na Ho
true. my account opens this year and dividend received in my account hence gets a call from my broker to come and sign a document and again provide IBAN
Due to the Lack Of Online Informaiton :
CDC Aur Banks Ko SBP Ki Approval Se Her Cheez Online RAKHNI Chahyeh thi :
Apka Account hai to CDC Online Link Se Dekh Leti IBAN Generate Howa Ya Nahi :
Yaha to Sub Kaam Paper Work Pe Hota hai :
Is k pure cOmments m bs 1 bt smjh I k ye btana cHaHra h k is k pass B Bank Account h means Abdul WAHAB jaise lOG B Bank Account Open krwaa skty h..
#ynwim
:D