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9

Powers and functions of the trustee bank

Act: Awami Hajj Trust Ordinance 1996

Section Provisions

ORDINANCE LXXXI OF 1996 ORDINANCE LXXXI OF 1996 AWAMI HAJJ TRUST ORDINANCE, 1996 9. Powers and functions of the Trustee Bank.‑‑In accordance with the directions given by the Board and the Managing Trustee, the Trustee Bank shall‑‑‑ (a) prepare and implement schemes for mobilizing savings from members and deposit such savings in the fund; (b) invest savings of the members in appropriate schemes yielding maximum returns and are approved by the Board; (c) manage the Fund with due diligence in order to fully protect and safeguard the savings made by the members; and (d) acquire movable and immovable properties for use by members during Hajj in accordance with the directions of Board.