Question

The purpose of the two independent witnesses, one of whom should be a responsible bank official person who would actually be drawing the money, is to:

Option 1: Verify the identity of the person
Option 2: Confirm the validity of the transaction
Option 3: Ensure the person is eligible to withdraw money
Option 4: Safeguard the withdrawal process

Answer 1

The purpose of having two independent witnesses, including a bank official, when drawing money, is to confirm the validity of the transaction and safeguard the process.

Step-by-step explanation:

The presence of two independent witnesses, one of whom should be a responsible bank official, during the process of drawing money, serves primarily to safeguard the withdrawal process. This procedure aims to ensure that the withdrawal is conducted correctly, thereby confirming the validity of the transaction. These witnesses are especially important in situations where significant amounts of money are involved, as they can verify the identity of the person withdrawing the funds and act as a deterrent to fraud or mistakes.