1. Individuals (whether trading in personal names or as sole proprietors of sole proprietorship concerns), partnership firms, limited companies and corporations, with the individual/proprietor, all partners (in case of a partnership firm) and all directors and controlling shareholders (in case of a limited company and corporation), as the case may be, possessing a good track record and business and educational background, with sufficient experience in the financial, foreign exchange and securities business would be eligible for grant of a Franchise. In particular, Applicants who had possessed Money Changers’ Licenses with at least three years experience and a good track record, would be given preference. Provided however, KKI may at its discretion and based on other lawful considerations, such as undertaking on part of the Applicant to induct professional management in the Franchise business and possessing good family and business background, may also be considered by KKI for grant of Franchise License.

2. The individual/sole proprietor, the managing partner (in case of partnership firm) and the Managing Director or Chief Executive, by whatever name called (in case of a limited company or corporation), as well as the General Manager of the Franchisee, must be graduates from recognized Universities in Pakistan or from offshore Universities or Institutions whose degrees are recognized by the Government of Pakistan. They must further possess a minimum of three years working experience as money changers, bankers or stock brokers and must be familiar with the techniques and know-how of the exchange company business and well versed with the Foreign Exchange Regulations of Pakistan and other applicable laws, rules and regulations. The successors in office of all such persons mentioned above must also be persons who meet with the above eligibility criteria.

3. The individual/sole proprietor, non of the partners (in case of partnership firm) and non of the Directors, the Chief Executive or any of the controlling shareholders (in case of a limited company or corporation) and the General Manager of the Franchisee must not have been convicted by any court or tribunal for any offence of moral turpitude, including fraud, forgery, misappropriation, etc. Affidavits to that effect would be required after the Applicant is selected for grant of Franchise rights.

4. The individual/sole proprietor, non of the partners (in case of partnership firm) and non of the Directors, the Chief Executive or any of the controlling shareholders ((in case of a limited company or corporation) and the General Manager of the Franchisee must not be bank defaulters or involved in serious tax evasion cases. Affidavits to that effect would be required after the Applicant is selected for grant of Franchise rights.