Capstone: write a mock onboarding memo for a hypothetical Karachi VASP

Three ways to see it

1. 1

   A credit committee memo for a VASP onboarding has eight sections. Executive summary in three sentences. Counterparty profile covering legal entity, ownership, governance, and key personnel. Regulatory status covering PVARA licence, fit-and-proper, and any open enforcement. Business model covering activity classes, expected flows, and customer segments. Risk assessment covering AML, sanctions, operational, technology, and reputational. Account structure proposing the segregated, operating, and fee accounts with limits and signatories. Monitoring plan covering rule and AI alerts, reconciliation cadence, and review schedule. Recommendation with conditions, dissent, and signatures. Each section has a defined owner and a defined evidence pack behind it.

2. 2

   Section by section walkthrough. Executive summary: 'Indus Digital Assets Limited is a PVARA-licensed Class A and Class B applicant with PKR 300 million paid-in capital, founders with credible regulated finance backgrounds, and a stated focus on retail USDT-PKR conversion and custodial wallets. We recommend conditional approval subject to nine onboarding conditions and quarterly compliance officer review for the first year.' Counterparty profile: list legal entity, SECP CUIN, NTN, registered address, board composition, ultimate beneficial owners traced to natural persons, and key personnel CVs. Note any PEPs and the EDD steps already completed.

3. 3

   Regulatory status: cite the PVARA licence number, classes, issue date, and expiry. Attach the fit-and-proper letters and confirm no open enforcement at PVARA, SBP, SECP, FBR, or FMU. Cross-check against FATF lists, OFAC, EU, and UN sanctions, and document the screening run date. Business model: describe expected daily on-ramp volume in PKR (low and high case), expected number of retail customers within 12 months, expected average transaction size, expected counterparty geography, and the wallet types the VASP will custody. Note explicitly which activities the VASP will not undertake (proprietary trading, leverage, derivatives) and how that scope will be enforced.

The why-tree

Try this with Claude

AI-edge prompt: 'You are an experienced Pakistani bank credit committee member. I will paste a draft VASP onboarding memo. Critique it as if you were the most demanding member around the table. List five questions you would ask before voting, two facts you suspect are missing, and one paragraph you would insist be rewritten before approval. Cite PVARA and SBP regulations where relevant.' Paste your draft and read the critique adversarially.