Banking | MCQs

Explanation

Allied Bank (ABL)(الائیڈ بینک لمیٹڈ) is the fifth largest commercial bank in Pakistan .

Allied Bank with its registered office in Lahore.

It was the first Muslim bank established before Pakistan became independence in 1942 with the name of Australasia Bank.

It was renamed to Allied Bank of Pakistan in 1974.

Explanation

Meezan Bank was declared the Best Bank of Pakistan for the calendar year 2020 in 5th Pakistan Banking Awards on 8th January 2021, while the Habib Bank Ltd (HBL) won three awards in three different categories.

Explanation

CARs stands for_____?

Computerized Automated Recording System

Explanation

The National Bank of Pakistan (NBP) has been fined more than $55 million by United States authorities for anti-money laundering violations and for repeated compliance failures, it emerged on 24-02-2022.

Explanation

The function of a Bank is to collect deposits from the public and lend those deposits for the development of Agriculture, Industry, Trade and Commerce.

Explanation

Generally prompt is followed by In.

Prompt means بغیر کسی دیر کے

He is prompt in payment. 

Explanation

Magnetic ink character recognition code is a character recognition technology used mainly by the banking industry to streamline the processing and clearance of cheques and other documents.