Following are the banking functions or functions of banking under Section 7 of the Banking Companies Ordinance1962:
- Accepting Deposit for lending or investment
- Discounting B/E and other Negotiable Instrument
- Collecting Negotiable Instruments on behalf of the customer
- Buying and selling bullion and foreign Exchange
- Granting letter of Credit to customer
- Receiving valuable for safe custody
- Underwriting and dealing in stock, share, debenture and other securities on behalf of the customer and other
- Acting as agent to his customer, undertaking and executing trust.
- Carrying on guarantees and indemnities position
- Dealing with any property that may come to it as security in satisfaction of its outstanding claims.
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