Money, Finance and Banking Blog in Pakistan
Posts tagged Customer Awareness
SBP to Issue New Rs500 Note With OVI Feature
Jan 24th
The State Bank of Pakistan has announced that all offices of SBP Banking Services Corporation will start issuing new Rs500 currency note with the Optically Variable Ink feature from January 25, 2010. Optically variable ink (OVI) is an anti-counterfeiting measure used in modern currency.
The ink displays two different colors when currency note is viewed at different angles. Technology of OVI is not widely available, making it effective anti-counterfeiting measure.
Wikipedia has following information on Optically Variable Ink.
Optically variable inks (OVI) – Color-shifting inks reflect various wavelengths in white light differently, depending on the angle of incidence to the surface. An unaided More >
Arif Habib Investments Cautions General Public
Jan 20th
Dawn newspaper on January 19, 2010 carried an advertisement from Arif Habib Investment cautioning general public against fraudulent activities of some imposters. The notice informs that some unauthorized persons have approached investors to obtain blank or bearer cheques for investment in mutual funds.
The notices informs general public that cheque / pay order / demand draft should only be issued with “payees account only” in favor of the trustee of the respective fund as mentioned in the offering documents of funds.
It added that financial instrument (i.e. cheque / pay order / demand draft) should only be handed over to the authorized More >
