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ICAP Benevolent Fund

SALIENT FEATURES
Formation:
The Council of the Institute of Chartered Accountants of Pakistan (ICAP) established the ICAP Benevolent Fund (the Fund) on December 23, 1972. Its activities are governed by the Institute of Chartered Accountants of Pakistan Benevolent Fund Rules.
Objectives:
To provide:

  • Relief to the deserving persons who are or have been members of the Institute and to spouse,Children and dependents of such members.
  • To arrange group life, health care and other general purpose schemes for the benefit of the members
  • Group Life Insurance & Health Schemes are optional for its members.
Sources of income:
  • Annual subscription contributed by members
  • Donations made by members and others
  • Investment income
Participation by members is desired:
  • A member can participate in the activities of the Fund in the following manner:As proposer of any deserving case warranting consideration by the Fund.
  • As volunteer to participate in the activities of the Fund as a member of the ManagementCommittee; and
  • Interaction with the members of the Management Committee personally or in writing withideas for further consideration.
Procedure of providing financial assistance:
  • On receipt of the information about death of a member or a living member in distress, a sub-committee of two members visits the family to evaluate the need for financial assistance and makes recommendation to the Committee. The Committee, after due consideration takes decision on the merit of each case
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