What is fe 25 deposit?

25 Scheme. (i) The amounts of foreign currency deposits accepted outside State Bank’s forward cover scheme i.e. under F.E. Circular No. 25 of 1998, are not required to be surrendered to the State Bank and the Bank will not provide any forward cover for the same.

What is FAPC facility?

FAPC – (Finance Against Packing Credit)

Can I open foreign currency account in Pakistan?

Pakistan nationals resident in Pakistan are not permitted to open or maintain any foreign currency accounts with banks etc., outside Pakistan.

What is the difference between CC and OD account?

Cash Credit (CC) is a short-term loan offered to self-employed customers and businesses to meet their working capital requirements, whereas Overdraft facility is credit funding offered by banks to individuals and companies to withdraw money from the banks in which they have accounts, even if their account balance is …

What does deposit mean in the finance world?

What It Is. In the finance world, a deposit is the placement of funds in an account with a bank or other financial institution. Many people also use the term to refer to a refundable down payment made to ensure that a future transaction occurs.

When was the first use of the word Deposit?

The first known use of deposit was in 1621. Financial Definition of deposit. In the finance world, a deposit is the placement of funds in an account with a bank or other financial institution. Many people also use the term to refer to a refundable down payment made to ensure that a future transaction occurs.

What does it mean to have a good faith deposit?

Most good faith money deposits are part of an agreement that spells out the conditions under which a buyer may lose their deposit if they are unable or unwilling to complete the contract. A good faith deposit may seem a little like a call option because the buyer has the right to complete the ultimate purchase.

Which is the best definition of a time deposit?

A time deposit is an interest-bearing deposit held by a bank or financial institution for a fixed term whereby the depositor can withdraw the funds only after giving notice.