Account Opening Guideline and Checklist

Account Opening Process Flow:

• A potential customer walks in branch for Account Opening.
• Branch guides the customer with the Product & Services being offered by Bank Alfalah.
• Customer fills / signs the Account Opening Form (AOF) and associated documents (as applicable).
• The branch performs Due Diligence and examines the Account Opening Form (AOF) and associated documents.
• Once all the requirements are fulfilled, the Account Opening Form (AOF) and associated documents are submitted for Account Opening.

Note: The Turnaround Time (TAT) for Account Opening is 1 working day.

For more account opening information, please click here.

List of Account Opening Documents:

• Account Opening Form (AOF)
• Term & Conditions
• Signature Specimen Card
• Key Fact Statement (KFS)
• Proof of Income / Funds
• Biometric Verification
• Any other documents (if applicable)

Income Proof Requirement:

For Salaried Individuals:

a) For Proof of Profession* (Any one of the following documents should suffice)

• Valid Job/ Employee Card, OR
• Employer/ Job Certificate, OR
• Employment Contract, OR
• Employer Letter, OR
• Iqama/ Work Permit showing Profession/ Employment Details, OR
• For Retired Persons, a copy of Retirement Letter/ Proof of Retirement, OR
• Any other Document evidencing the Profession

b) Source of Income/ Funds* (Any one of the following documents should suffice)

• Latest Salary Slip, OR
• Salary Certificate, OR
• Payment Slips/ Record, OR
• Account Statement, OR
• Tax Statement/ Return/ Certificate, OR
• For Retired Persons, an evidence of Terminal Benefits/ Pension Book etc., OR
• Any other Document evidencing Source of Income

Note: A single document showing the Proof of Profession and Source of Income/ Funds may also suffice both the requirements.

Self-employed/ Non-Salaried / Unemployed Persons:

a) For Proof of Business/ Work* (Any one of the following documents should suffice)

• Business Registration Document, OR
• Business/ Proprietor Letter Head; or any other Proof of Self Employment (e.g. Lawyer/ Doctor/ Consultant/ Freelancers/ Grocery Store/ Medical Store/ Labor Work etc.), OR
• Partnership/ Business Deed, OR
• Housewives – Declaration, OR
• Student ID Card/ Letter from Educational Institute, OR
• Iqama/ Work Permit showing Business/ Nature of Work etc., OR
• Any other Document evidencing the Profession

b) Source of Income/ Funds* (Any one of the following documents should suffice)

• Receipt of Payment against the Work, OR
• Account Statement, OR
• Particulars of Income/ Funds Providers (e.g. Family Members/ Guardian/ Stipends/ Social Benefits etc.), OR
• Tax Statement/ Return/ Certificate, OR
• Any other Document evidencing Source of Income

Note: A single document showing the Proof of Profession and Source of Income/ Funds may also suffice both the requirements.

Miscellaneous/ Others:

• Inheritance, OR
• Agriculture income, OR
• Investment in securities, bonds, shares, etc., OR
• Investment in property, OR
• Interest income

Note: Both Salaried/ Non-Salaried/ Self-employed/ unemployed may derive their income funds from these sources as well.