Course Outline Banking Laws and Practices

HAILEY COLLEGE OF COMMERCE
UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Banking Laws and Practices Credit Hours: 03
1.0 Introduction of the Course

This course aims to provide an understanding of history of banking since inception. It also
explains the banking laws and its historical perspective as well as contemporary banking laws
in Pakistan. Moreover, banking practices in the recent age is the central tenet of this course to
educate the young professionals for better understanding of the banking sector. This course
also covers emerging trends and cotemporary research in the banking sector to address the
prevailing banking streams i.e., conventional banking and Islamic banking.
2.0 Pre-Requisites Course (s) or Other Requirements/Skills:

It requires basic understanding of business and commerce in addition to accounting,
quantitative techniques, and business/corporate laws.
3.0 The Course carries following objectives:

1. Understanding of banking industry and its role in the economy
2. Learning of Banking laws and its legislation process
3. Banker-customer relationship and types of accounts offered by banks (personal
accounts and institutions accounts).
4. An insight of Banking practices and regulatory requirements in Pakistan
5. Emerging trends and issues in the banking sector
4.0 Course Learning Outcomes

 Basic understanding of banking industry, its emergence/evolution and role in the
economy
 To have an orientation about banking laws and its application in different regimes
 To understand banking practices and regulatory compliance in Pakistan
 To know the emerging trends and patterns in the banking sectors due to changing
needs (social, economic, or technological)
5.0 Course Contents:
Unit-I
1.1 Banking History
1.1.1 Inception and evolution of banking
1.1.2 Role of Bank
1.1.3 Pakistani banking sector,
1.1.4 Banking developments in Pakistan,
Unit-II
2.1 Banks and Financial Markets
2.1.1 Role of Bank in financial markets
2.1.2 IPO and banking system
2.1.3 Financial environment and banking system of Pakistan
Unit-III
3.1 Types of Banks and Financial Institutions
3.1.1 Types of banks
3.1.2 Central Bank and its functions
3.1.3 Pakistani banking sector
Unit-IV
4.1 Interest Free Banking (Islamic Banking)
4.1.1 Interest-free Banking (Islamic Banking)
4.1.2 Difference between Islamic and Conventional Banking
4.1.3 Prohibition of Interest in Islamic Banking
4.1.4 History of Islamic Banking in Pakistan
4.1.5 Islamic Banking Contracts/Products
4.1.6 Functions of Islamic Bank
Unit-V
5.1 Banking Laws in Pakistan
5.1.1 Contract Act 1872
5.1.2 Negotiable Instrument Act 1881
5.1.3 The Banker’s Book Evidence Act 1891
5.1.4 Foreign Exchange Act, 1947
5.1.5 State Bank of Pakistan Act, 1956
5.1.6 Banking Companies Ordinance, 1962
5.1.7 Nationalization of Banks Act, 1974
5.1.8 Financial Institutions Finance (Recovery) Ordinance 2001
5.1.9 Anti-Money Laundering Act, 2010
Unit-VI
6.1 Requirements of Banking Companies Ordinance 1962 (Revised)
6.1.1 Preliminary
6.1.2 Banking business
6.1.3 Winding up of banking business
6.1.4 Banking Mohtasib
6.1.5 Miscellaneous
Unit-VII
7.1 Funds of Banks (Sources and Utilization)
7.1.1 Internal sources
7.1.2 External sources
7.1.3 Funds utilization by banks
Unit-VIII
8.1 Operations and Products of Banks
8.1.1 Fund based operations products.
8.1.2 Non-fund-based operations and products
8.1.3 Agency services
8.1.4 General services
Unit-IX
9.1 Bank Customers (Retail/Individual)
9.1.1 Bank, banking company and customer
9.1.2 Functions of bank
9.1.3 Banker-Customer relationship
9.1.4 Right and duties of banker and customer
9.1.5 Personal accounts
Unit-X
10.1 Bank Customers (Corporate/Institutional)
10.1.1 Legal requirements to open a bank account.
10.1.2 Accounts of institutional customers (corporate entities)
Unit-XI
11.1 Cheques and Types of Checks
11.1.1 Cheque and essentials of cheque
11.1.2 Reasons for Dishonor/bounce of cheque
11.1.3 Remedies regarding dishonor of cheque
11.1.4 Types of cheques
11.1.5 Crossed cheques.
Unit-XII
12.1 Banking Instruments
12.1.1 Introduction
12.1.2 Type of banking instruments
12.1.3 Role of bank
Unit-XIII
13.1 Financing Products of Banks
13.1.1 Type of financing products
13.1.2 Short term financing products
13.1.3 Medium-term financing products
13.1.4 Long term financing products
Unit-XIV
14.1 Principles and Forms of Lending in Pakistan
14.1.1 Type of bank lending
14.1.2 Principles of bank lending
14.1.3 Forms of lending
Unit-XV
15.1 Foreign Exchange and Banks
15.1.1 Foreign Exchange Act, 1947
15.1.2 Role of banks in foreign exchange market
15.1.3 Buying and selling of foreign currencies
Unit-XVI
16.1 Role of Banks in Economy
16.1.1 Economic role of bank
16.1.2 Merits and demerits of banking industry for economy
16.1.3 Role of bank in the economy
Unit-XVII
17.1 Digital Banking
17.1.1 Financial technology and banking
17.1.2 Digitization of banking
17.1.3 Products of digital banking
Unit-XVIII
18.1 Contemporary Banking Practices and Emerging Trends
18.1.1 Banking Developments in Pakistan: A Journey from Conventional Banking to Islamic
Banking
18.1.2 Islamic Banking Experience of Pakistan: Comparison of Islamic and Conventional
Banks
18.1.3 Islamic Banking and Prohibition of Interest / Riba
18.1.4 An Overview of the Operations/Products offered by Islamic Banks in Pakistan
18.1.5 Investigation of Services Utilization Decisions in Islamic Banking: Role of Motives
and Behavior
18.1.6 An Analysis of Functions of Functions performed by Islamic Banks: A Case of
Pakistan
18.1.7 Comparative Study of Islamic Banking Products: Perception of Bankers and Islamic
Scholars
6.0 Teaching-Learning Strategies

The course will have combination of the instruction methodologies e. g. Class lectures, Video
lectures, Readings, Panel discussions, Seminars, Term project and presentations.
7.0 Assignments- Types and Number with calendar

As per University Policy and academic calendar
7.0 Assessment and Examinations: As per University Rules
Mid-Term Written Paper 35 %

Final Examination Written Paper 40 %
Sessional Quizzes and Tests, Assignment and Presentations, Attendance,
Class Participations and Discipline etc. 25 %
9.0 Textbooks
1. Ahmad, A. (2022), Banking Laws and Practices in Pakistan, First Edition, Azeem
Academy, Pakistan.
10. Suggested Readings

1.1 Books
1. Ahmad, A. (2016). Comparative Study of Islamic Banking in Pakistan: Proposing and
Testing a Model, LAP LAMBERT Academic Publishing, Germany, ISBN 978-3-659-
89322-3.
2. Siddiqi, A. H. (2007). Practice and Law of Banking in Pakistan, 8th Edition, Royal Book
Company, Karachi, Pakistan.
10.2 Journal Articles/ Reports

 Ahmad, A., Farooq, W. and Imran, M. (2021). Islamic Banking Products: A
Comparative Study of the Perception of Bankers and Scholars, Al-Qamar, 4(1), 31-
44.
 Ahmad, A., Ullah, Z. and Manj, S. (2020). Investigation of Services Utilization
Decisions in Islamic Banking: Role of Motives and Behavior. Al-Qamar, 3 (1), 17-30.
 Ahmad, A. Danish, R., Ali, A. and Afzal, A. (2019). Comparative Study of Banking
Industry based on Appraisal System, Rewards and Employee Performance.
SEISENSE Journal of Management, 2(1), 4-14.
 Ahmad, A. and Bashir, R. (2014). An Investigation of Customer’s Awareness Level
and Customer’s Service Utilization Decision in Islamic Banking. Pakistan Economic
and Social Review, 52 (1), 59-74.
 Ahmad, A., Rehman, U.K., and Humayoun, A. A. (2011). Islamic Banking and
Prohibition of Riba/Interest. African Journal of Business Management, 5 (5), 1763-
1767.
 Ahmad, A., Awan, U. R. and Malik, I.M. (2011). An Overview of the
Operations/Products offered by Islamic Banks in Pakistan. African Journal of
Business Management, 5 (11), 4185-4190.
 Ahmad, A., Malik, I. M. and Humayoun, A. (2010). An Analysis of Functions
performed by Islamic Bank: A Case of Pakistan. European Journal of Social
Sciences, 17 (1), 7-11.
 Ahmad, A., Humayoun, A. A. and Hassan, U. (2010). Banking Developments in
Pakistan: A Journey from Conventional Banking to Islamic Banking, European
Journal of Social Sciences. 17 (1), 12-17.
 Ahmad, A., Rehman, U.K. and Saif, I. (2010). Islamic Banking Experience of
Pakistan: Comparison of Islamic and Conventional Banks, International Journal of
Business and Management, 5 (2). 137-144.
 Butt, Z.B., Rehman, U.K. and Ahmad, A. (2007). An Empirical Analysis of Market
and Industry Factors in Stock Returns of Pakistan Banking Industry. South Asian
Journal of Management, 14 (4), 7-19.

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HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

1.0 Introduction of the Course

2.0 Pre-Requisites Course (s) or Other Requirements/Skills:

3.0 The Course carries following objectives:

4.0 Course Learning Outcomes

6.0 Teaching-Learning Strategies

7.0 Assignments- Types and Number with calendar

Mid-Term Written Paper 35 %

10. Suggested Readings

10.2 Journal Articles/ Reports

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