DOCSLIB.ORG

Partner with Us

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Partner with Us The World’s Leading Islamic Finance News Provider (All Cap) 1100 Malaysia Pakistan levels Islamic banks Islamic 1,039.58 1050 fi ghting the playing fi eld cashing in on banks 1000 1,040.92 hard to keep for Islamic fi nance mobile payments unlikely 950 0.12% its Islamic sector with new as the UAE goes to return 900 fi nance tax neutrality cashless...7 to double- W T F S S M T title...6 for Sukuk digit asset Powered by: IdealRatings® transactions...7 growth...10 COVER STORY 7th September 2016 (Volume 13 Issue 36) Financial technology: Force for the future or ϐlash in the pan? Fintech is on the rise — on that much, but what do we actually mean by it? advice and investment management). everyone is agreed. But what does it Before we can evaluate a trend, we need Up-and-coming new trends include actually mean for the Islamic market to classify what it truly entails — which authentication and biometrics, — what is happening, what advantages can sometimes get lost in the crowd. blockchain, cloud computing and big will it bring and why should we get data. excited? It’s easy to start a trend, but In essence, the term fi ntech refers to we need to see real progress before a widely promoted and potentially Islamic advancements we believe it can actually change disruptive alternative to the technology So where does Islamic fi nance fi t in, the world. LAUREN MCAUGHTRY and solutions off ered by traditional and what are the opportunities for a talks to the movers and shakers in the large-scale, highly regulated fi nancial specifi cally Shariah compliant sector? Islamic fi ntech space to ask whether institutions: transforming the In recent months, we’ve seen plenty of these big promises will ever be more fi nancial industry through mobility development in the Islamic arena, and than just the latest buzzword... of technology, ideas and payments. changes are afoot which should support Common themes across the sector growth going forward. Mohammed Here in the pages of IFN we have talked include the monetization of data, fraud Raafi Hossein, CEO of Dubai-based about fi ntech in the past, and we have and identity protection, infrastructure Islamic fi ntech advisory fi rm Finocracy, not been shy about identifying it as one replacement and disintermediation. Key is excited about the prospects. “In just of the most important trends for the themes include payments (where under a year, we’ve worked with some future of Islamic fi nance. But with fi rms such as Apple, Paypal of the leading private and public sector all the excitement surrounding and Alibaba have sprung up institutions in Islamic fi nance and have the sector, it can be easy to lose to off er solutions to replace helped them develop strategies and sight of what it really is — and physical wallets online), build fi ntech solutions, many of which what it hopes to achieve. This lending (with a multitude will be launched within the next 12-18 week, we want to bring you of crowdfunding platforms months,” he told IFN. an update on what is actually matching lenders and happening in the market — borrowers in various ways In April, nine platforms joined forces where the action is, where the through online platforms) to found the Islamic Fintech Alliance innovations are, and what is and investment (with new to boost innovation and support the happening to drive the sector ‘roboadvisors’ such as reach of Shariah fi ntech. “While there forward. WealthFront using are a diversity of platforms within the data analytics to alliance, there are still a number of areas But fi rst — what is fi ntech? provide digitized that are brimming with potential,” noted Everyone has heard the term, online fi nancial continued on page 3 Opening doors to PARTNERPARTNER WITHWITH USUS new opportunities Contact for more information: François-Xavier Chenhalls-Walker Email: francois.xavier@REDmoneygroup.com IFN RAPIDS Volume 13 Issue 36 IAP Integrated expects Emirates Real Estate DEALS to list 20 more ventures Fund acquires residential IFN Rapids ................................................... ..2 Bank Albilad privately on Shariah compliant property in Dubai from IFN Reports: places SAR2 billion Investment Account Binghatt i Developers (US$533.07 million) Sukuk Platform by 2018 • Malaysia fi ghting hard to keep its title • Emaar Properties mandates Modaraba members TAKAFUL UN Global Compact lacks Islamic banking keen on participating in banks for US dollar Sukuk Misr Emirates Takaful Life participation • Pakistan levels the playing fi eld electronic commodity Insurance to have eight Indonesia seeks to raise trading for Islamic fi nance sector with new tax neutrality IDR4 trillion (US$301.2 branches by end of 2016-17 Pakistan’s Islamic banking fi nancial year for Sukuk transactions • Islamic banks cashing million) via Sukuk auction assets and deposits capture in on mobile payments as the UAE goes cashless Emirates Islamic closes 11.4% and 13.2% respectively US$250 million tap of RATINGS • IFN Monthly Review: August — A surge of of total market share fi ve-year Sukuk issuance; RAM reaffi rms ratings on Bursa Malaysia launches activity across multiple markets • Islamic banks att racts strong orderbook Axis REIT Sukuk’s RM155 world’s fi rst end-to-end million (US$38.2 million) unlikely to return to double-digit asset growth Qatar Islamic Bank issues integrated Islamic securities QAR2 billion (US$548.76 second Sukuk as world economies adjust to new normal of exchange platform million) Tier 1 perpetual Capital Intelligence raises Pakistani authorities oil prices • Fund Focus: Asian Tiger Capital Sukuk Al Imtiaz Investment add concept of ‘Shariah Partners’s ATC Unit Shariah Fund to deepen Group’s long-term Putrajaya Holdings to issue compliant company’ and corporate rating to ‘BBB’ Islamic capital markets in Bangladesh • Sovereign Islamic notes worth RM170 ‘Shariah compliant security’ million (US$41.67 million) and enabling provisions Moody’s assigns fi rst-time Sukuk: Malaysia’s sovereign fund and Indonesia’s Khazanah Nasional raises into Companies Bill, 2016 ‘B2’ issuer ratings to the savings Sukuk make the rounds ..................... 6 Maldives; outlook stable US$398.8 million from a Turkey’s political fi ve-year exchangeable uncertainty poses minimal RAM conducts rating Sukuk issuance IFN Analyses: risk for non-Turkish review on Bank Rakyat Sharjah Islamic Bank sells companies and its Sukuk; monitoring Central Asia: Full steam ahead ................................ 13 recent developments US$500 million Sukuk New Pakistani Sukuk Takaful and re-Takaful: An emerging sector .... 14 Indosat lists Sukuk and law amendments grant Capital Intelligence affi rms Case Study: bond facilities with a tax neutrality to Shariah Egypt’s sovereign ratings compliant issuance with stable outlook Jambatan Kedua’s sophomore Sukuk Murabahah 15 combined value of IDR3.46 trillion (US$261.92 million) Kuveyt Turk launches IFN Country Correspondents: on Indonesia Stock Shariah compliant State MOVES Brazil; Russia; Afghanistan; the UK ................ 16 Exchange Subsidized Housing Account Bank Rakyat establishes to boost home ownership Country Feature: FWU Group closes third Board Oversight Committ ee series of Sukuk at US$28.4 Islamic fi nance in Sri Lanka: The time is ripe ....19 Islamic and commercial following detainment of top million banks join Securities executives by Malaysian Anti- Asset Management Feature: Industry Dispute Corruption Commission Resolution Center following Exploring the potential of Islamic contracts to replicate NEWS Capital Market amendment to dispute Authority of Saudi Arabia the benefi ts of conventional short-selling ............. 20 Faisal Islamic Bank’s resolution regulations reconstitutes Board of Sector Feature: mortgage portfolio hits EGP2 million (US$225,506); SEDCO Capital acquires Commissioners as per Re-Takaful initiatives in Indonesia and its eff ects eyes fi nancing of four more minority stake in South Royal Order Korean manufacturer Nedec globally ........................................................... 22 middle-class housing units Syarikat Takaful Malaysia Al Baraka Bank Pakistan appoints Othman Abdullah and Burj Bank to merge in ASSET as new senior independent Islamic Finance news ................................... 24 the next few months; new director; redesignates Deal Tracker .................................................30 entity will hold over US$1.1 MANAGEMENT Mahadzir Azizan as non- billion in total assets independent director REDmoney Shariah Indexes ...................... 31 Azzad Wise Capital Fund Sabana REIT secures crosses US$100 million Bassem Ibrahim Awadallah Eurekahedge Funds Tables ........................33 SG$108 million (US$79.21 mark in net assets replaces Riyad Burhan Kamal as Arab National Dealogic League Tables ..............................35 million)-worth of Islamic Public Mutual declares Bank board member REDmoney Events ...................................... 39 fi nancing facilities to distributions for four restructure existing Islamic funds Subscription Contact................................... 39 borrowings Disclaimer: IFN invites leading practitioners and academics to contribute short reports each week. Whilst we have used our best endeavors and eff orts to ensure the accuracy of the contents we do not hold out or represent that the respective opinions are accurate and therefore shall not be held responsible for any inaccuracies. Contents and copyright remain with REDmoney. © 2 7th September 2016 COVER STORY Financial technology: Force for the future or fl ash in the pan? Continued from page 1 Raafi . “Moving
Load more

Recommended publications
  • June Annual Report
    INSPIRED BY NATURE Nature has those splendors a curious soul desires. There are spectacles that enchant and phenomena that captivate. The making of textile is an inspired event that manifests the richness of the vibrant nature. VISION Setting trends globally in the textile industry. Responsibly delivering products and services to our partners. MISSION To deliver value to our partners through innovative technology and teamwork. Fulfilling our social and environmental responsibilities. VALUES • Integrity • Passion • Creativity • Teamwork Contents Company information 02 Color 03 Texture 05 Details 07 Shape 09 Pattern 11 Organogram 13 Strategic Objectives 14 Product 17 Stakeholders Engagement 18 Profile of the Directors 19 Board Committees 21 Code of Conduct and Ethics 23 Shareholders' Information 24 Chairman’s Message 25 Directors' Report 26 Sustainability Report 31 Financial Highlights 34 Financial Ratios 35 Graphical Analysis 36 Our Value Addition and its Distribution 38 Horizontal Analysis of Financial Statements 39 Vertical Analysis of Financial Statements 40 Comments on Financial Analysis 41 Statement of Compliance with the Code of Corporate Governance 42 Notice of annual general meeting 44 Review report to the members on statement of compliance with best practices of the code of corporate governance 45 Auditors' report to the members 46 Balance sheet 47 Profit and loss account 49 Statement of comprehensive income 50 Cash flow statement 51 Statement of changes in equity 53 Notes to the Financial Statements 54 Attendance at board and
    [Show full text]
  • Islamic Finance Pakistan the Islamic Finance Industry Newsletter
    Islamic Finance Pakistan The Islamic Finance Industry Newsletter VOLUME 1 ISSUE 5 | NOVEMBER 2010 Editorial……………………………….………………………………………………… 2 O ye who believe! Guard Remembering Dr. Mehmood Ahmed Ghazi………….………………… 3 e your duty to Allah, and u Messages on sad demise of Dr. Ghazi…………………..……………….. 4 s s Moves and Promotion……………………………………………………………. 4 i speak words straight to 5 ﺣﺎﻓﻆ ڈاﮐﭩﺮﻣﺤﻤﻮداﺣﻤﺪ ﻏﺎزی ﻣﺮﺣﻮم s the point. i h Ask Us ……………………………………………………………….………………….. 6 t News Bulletin ………………………………………………………………………… 8 n Al – Quran , 33:70 I Spotlight………………………………………………………………………………… 10 Upcoming Event…………………………………………………………………….. 12 Dr. Mahmood Ahmed Ghazi… A man of true letters By Anwar Ahmed Meenai The sad news of Dr. Mahmood scholar, free of any prejudices on the Ahmed Ghazi’s death was received basis of caste or creed or association on 26th September 2010. It has with a particular school of thought. He caused immense grief and sorrow to always discussed issues in a scholarly everyone who knew him. manner, stating his viewpoint in a Dr. Ghazi belonged to a learned polite way as has been the practice of family which hailed from U.P., India. all true scholars in past generations. He received traditional religious Not only would he respect the works education at Jamiatul-Ulam-e- of scholars of the past generations, he Islamia, Binnori Town, Karachi and also admired his contemporaries and pursued further study, obtaining a acknowledged their works with an Besides recognition of his capabilities and works in Pakistan, Dr. Ghazi was Ph.D. Beside Arabic and Persian, he open mind. a scholar of international fame also knew English, German and Beside recognition of his capabilities scholar.
    [Show full text]
  • The Hub Power Company Limited
    growth through energy THE HUB POWER COMPANY LIMITED UNAUDITED QUARTERLY FINANCIAL STATEMENTS FOR THE THIRD QUARTER ENDED MARCH 31, 2013 C O N T E N T S THE HUB POWER COMPANY LIMITED PAGE Company Information 1 Report of the Directors 3 Condensed Interim Unconsolidated Profit & Loss Account 5 Condensed Interim Unconsolidated Statement of 6 Comprehensive Income Condensed Interim Unconsolidated Balance Sheet 7 Condensed Interim Unconsolidated Cash Flow Statement 8 Condensed Interim Unconsolidated Statement of Changes in Equity 9 Notes to the Condensed Interim Unconsolidated Financial Statements 10 THE HUB POWER COMPANY LIMITED and its Subsidiary Company Report of the Directors on the Consolidated Financial Statements 14 Condensed Interim Consolidated Profit & Loss Account 15 Condensed Interim Consolidated Statement of Comprehensive Income 16 Condensed Interim Consolidated Balance Sheet 17 Condensed Interim Consolidated Cash Flow Statement 18 Condensed Interim Consolidated Statement of Changes in Equity 19 Notes to the Condensed Interim Consolidated Financial Statements 20 COMPANY INFORMATION BOARD OF DIRECTORS Hussain Dawood (Chairman) Zafar Iqbal Sobani (Chief Executive) Syed Muhammad Ali Iqbal Alimohamed Muhammad Aliuddin Ansari Dr. Asif A. Brohi NBP Nominee Abdul Samad Dawood Qaiser Javed Khaleeq Nazar Kiani GOB Nominee Ruhail Muhammed Ali Munir Shahid Hamid Pracha Inam ur Rehman Shahid Aziz Siddiqi Syed Khalid Siraj Subhani Audit Committee Iqbal Alimohamed Chairman Qaiser Javed Ruhail Mohammad Ali Munir Shahid Aziz Siddiqi COMPANY SECRETARY Shamsul Islam MANAGEMENT Zafar Iqbal Sobani Chief Executive Officer Abdul Nasir Chief Financial Officer Abdul Vakil Chief Technical Officer Shamsul Islam Company Secretary Mustafa Giani Sr. Manager Commercial & Contracts REGISTERED & 3rd Floor, Islamic Chamber of Commerce Bldg; HEAD OFFICE ST-2/A, Block 9, Clifton, P.
    [Show full text]
  • Financial Statements 10 Company Information
    FOR THE THREE Financial (3) MONTHS ENDED Statements SEPTEMBER 30, 2020 (UNAUDITED) Dadex Eternit Limited Contents Company Information 2 Directors' Review 4 Condensed Interim Statement of Financial position 5 Condensed Interim Statement of Profit or Loss 6 Condensed Interim Comprehensive Income 7 Condensed Interim Cash Flow Statement 8 Condensed Interim Statement of Changes in Equity 9 Notes to the Condensed Interim Financial Statements 10 Company Information Board of Directors Sikander Dada - Chairman (Non - Executive Director) Abu Talib H.K. Dada (Non - Executive Director) Maqbool H.H. Rahimtoola (Non - Executive Director) Shahzad M. Husain (Non - Executive Director) Syed Shahid Ali Bukhari (Independent Director) Amber Ahmed Motiwala (Independent Director) Ayesha Allawala (Independent Director) Chief Executive Officer Qazi Sajid Ali Chief Financial Officer Muhammad Yousuf Company Secretary/ Umar Rasheed Head of Internal Audit Board Audit Committee Syed Shahid Ali Bukhari - Chairman Shahzad M. Husain Maqbool H.H. Rahimtoola Amber Ahmed Motiwala Human Resource and Ayesha Allawala – Chairperson Remuneration Committee Maqbool H.H. Rahimtoola Abu Talib H.K. Dada Management Team Qazi Sajid Ali - Chief Executive Officer Danish Dada - CEO (International Division) Tanveer Saleem - Chief Operating Officer (Technical & Operations) Syed Wasim Ahmed - Director Finance & Corporate Affairs Muhammad Yousuf - Chief Financial Officer Lt. Cdr. (Retd.) Saeed Ahmed Khan - General Manager Admin & HR Syed Shahrukh Mehdi - General Manager Sales 2 Quarterly Report September 2020 Auditors BDO Ebrahim & Co., Chartered Accountants Bankers National Bank of Pakistan Bank Islami Pakistan Limited Habib Metropolitan Bank Limited MCB Bank Limited Sindh Bank Limited The Bank of Punjab United Bank Limited (UBL Ameen) Standard Chartered Bank (Pakistan) Limited Faysal Bank Limited Habib Bank Limited Askari Bank Limited Al-Baraka Bank (Pakistan) Limited Meezan Bank Limited Dubai Islamic Bank Pakistan Limited Legal Advisor Abrar Hasan & Co.
    [Show full text]
  • Annual Report 2017 01 02 Annual Report 2017 Annual Report 2017 03 CAIRMAN’S MESSAGE
    CONTENTS Introduction 02 Other Information Chairman’s Message 04 Corporate DNA 06 Consumer Grievances Handling Mechanism 193 Board of Directors – Profiles 10 Pattern of Shareholding 195 Company Information 14 Branch Network – Conventional 202 Board Meeting Attendance 16 Branch Network – Islamic 217 Senior Management – Profiles 24 Code of Conduct 234 Shariah Board – Profiles 27 Glossary of Terms 245 Senior Management and Internal Committees 29 Form of Proxy 251 Corporate Social Responsibility 32 Organisational Structure 34 Six Year Financial Summary 36 Statement of Value Added 46 Notice of the 23rd Annual General Meeting 48 Report of the Board Audit and Corporate Governance Committee 54 Auditors’ Review Report on Compliance with Code of Corporate Governance 56 Statement of Compliance with Code of Corporate Governance 57 Shariah Board’s Report 60 Faysal Bank Financials Directors’ Report 64 Statement of Internal Control 74 Auditors’ Report to the Members 75 Statement of Financial Position 76 Profit and Loss Account 77 Statement of Comprehensive Income 78 Statement of Changes in Equity 79 Cash Flow Statement 80 Notes to the Financial Statements 81 Annexures 173 Annual Report 2017 01 02 Annual Report 2017 Annual Report 2017 03 CAIRMAN’S MESSAGE ssalam o laikm During 20 asa an ceerated seera signiicant miestones incuding the successu competion o 0 ears o presence in aistan his ourney hich started in ith one ranch as mared ith numerous chaenges hoeer the strong consistent support o our aued customers and staehoders aoed the an to grow. Now ater thirt ears asa an has a countride presence o 40 conentiona and Isamic ranches spread across 24 cities urthermore the addition o 0 Isamic aning ranches during 20 has increased the Isamic ranch netor to ranches maing it the argest netor o dedicated Isamic ranches amongst a conentiona ans in the country.
    [Show full text]
  • Snapshot of Results of Banks in Pakistan Snapshot of Results of Banks in Pakistan Six Months Period Ended 30 June 2016
    KPMG Taseer Hadi & Co. Chartered Accountants Snapshot of results of Banks in Pakistan Snapshot of results of banks in Pakistan Six months period ended 30 June 2016 This snapshot has been prepared by KPMG Taseer Hadi & Co. and summarizes the performance of selected banks in Pakistan for the 6 months period ended 30 June 2016. The information contained in this snapshot has been obtained from the published consolidated financial statements of the banks and where consolidated financial statements were not available, standalone financials have been used. Reference should be made to the published financial statements of the banks to enhance the understanding of ratios and analysis of performance of a particular bank. We have tried to provide relevant financial analysis of the banks which we thought would be useful for benchmarking and comparison. However, we welcome any comments, which would facilitate in improving the contents of this document. The comments may be sent on pk-fmkarachi@kpmg.com Dated: 23 September 2016 Karachi © 2016 KPMG Taseer Hadi & Co., a Partnership firm registered in Pakistan and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. 2 Document Classification: KPMG Public HBL NBP UBL MCB ABL BAF 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 Ranking By total assets 1 1 2 2 3 3 4 4 5 5 6 6 By net assets 1 1 2 2 3 3 4 4 5 5 7 7 By profit before tax 1 1 4 4 2 3 3 2 5 5 7 8 Profit before tax * 28,298
    [Show full text]
  • UBL Netremit
    UBL NetRemit For successful validation of the bank account number, the following account number format must be followed. 1. Allied Bank: Account Number Length: 13/14 or 20 digit i) 13 digits Account Number format: BBBBAAAAAAAAA ii) 14 digits Account Number format: BBBBAAAAAAAAAP Where: BBBB is Branch Code AAAAAAAAA is 9 digits Account Number P is Index No (Optional) iii) 20 digits Account Number format: BBBBAAAAAAAAAAAAAAAA Where: BBBB is Branch Code AAAAAAAAAAAAAAAA is 16 digits Account Number 2. Askari Bank 13 digits Account Number in this format: BBBBCCTTTAAAA Where: BBBB is Branch Code CC is Currency Code (always 01) TTT is Account Type AAAA is Account Number 14 digits Account Number in this format: BBBBAAAAAAAAAA Where: BBBB is Branch Code AAAAAAAAAA is Account Number 3. Bank Alfalah 12 digits Account Number in this format: BBBBAAAAAAAA 14 digits Account Number in this format: XXXXXXXXXXXXXX 18 digits Account Number in this format: XXXXXXXXXXXXXXXXXX Where: BBBB is Branch Code AAAAAAAA is Account Number 4. Bank Al Habib Account Number in this format: BBBBTTTTBBBBBBRRC Where: BBBB is Branch Code TTTT is Account BBBBBB is Base Number RR is Running No. C is Check Digit 5. Bank Islamic Pakistan Account Number in this format: 15 digits Account Number without Hyphen 6. Bank of Punjab Account Number in this format: 17 digits in this format: BBBBTTTAAAAAAAAAA Where: BBBB is Branch Code TTT is Account Type AAAAAAAAAA is Account Number 7. Burj Bank Limited Account Number length: 16 digits. Account Number in this format: BBBBTTCCCAAAAAAX Where: BBBB-Branch Code TT- Account Type CCC-Currency Type AAAAAA-Account Number *X-Prefix 8.
    [Show full text]
  • March 2012 3Rd Quarter
    growth through energy THE HUB POWER COMPANY LIMITED UNAUDITED QUARTERLY FINANCIAL STATEMENTS FOR THE THIRD QUARTER ENDED MARCH 31, 2012 Vision To be an energy leader – committed to deliver growth through energy. Mission To be a dynamic and growth – oriented energy company that achieves the highest international standards in its operations and delivers a fair return to its shareholders, while serving the community as a caring corporate citizen. C O N T E N T S THE HUB POWER COMPANY LIMITED PAGE Company Information 1 Report of the Directors 3 Condensed Interim Unconsolidated Profit & Loss Account 5 Condensed Interim Unconsolidated Statement of 6 Comprehensive Income Condensed Interim Unconsolidated Balance Sheet 7 Condensed Interim Unconsolidated Cash Flow Statement 8 Condensed Interim Unconsolidated Statement of Changes in Equity. 9 Notes to the Condensed Interim Unconsolidated Financial Statements 10 THE HUB POWER COMPANY LIMITED and its Subsidiary Company Report of the Directors on the Consolidated Financial Statements 15 Condensed Interim Consolidated Profit & Loss Account 16 Condensed Interim Consolidated Statement of Comprehensive Income 17 Condensed Interim Consolidated Balance Sheet 18 Condensed Interim Consolidated Cash Flow Statement 19 Condensed Interim Consolidated Statement of Changes in Equity 20 Notes to the Condensed Interim Consolidated Financial Statements 21 COMPANY INFORMATION BOARD OF DIRECTORS M. A. Alireza H.I. (Chairman) Zafar Iqbal Sobani (Chief Executive) Dr. Fereydoon Abtahi Yousuf A. Alireza Robin A. Bramley Dr. Asif A. Brohi NBP Nominee Malcolm P. Clampin Taufique Habib Arshad A. Hashmi Qaiser Javed Iqbal Ahmed Khosa GOB Nominee Ali Munir Philippe F. A. L. Salmon S. Nizam A. Shah M. Ashraf Tumbi Audit Committee M.
    [Show full text]
  • NBP Active Allocation Riba Free Savings Fund 2020.FH11
    NBP ACTIVE ALLOCATION RIBA FREE SAVINGS FUND ANNUAL REPORT JUNE 2020 NBP ACTIVE ALLOCATION RIBA FREE SAVINGS FUND MISSION STATEMENT To rank in the top quartile in performance of NBP FUNDS relative to the competition, and to consistently offer Superior risk-adjusted returns to investors. 01 NBP ACTIVE ALLOCATION RIBA FREE SAVINGS FUND FUND'S INFORMATION 03 DIRECTORS' REPORT 07 TRUSTEE REPORT TO THE UNIT HOLDERS 13 FUND MANAGER REPORT 14 STATEMENT OF COMPLIANCE WITH THE SHARIAH PRINCIPLES 21 Contents REPORT OF THE SHARIAH SUPERVISORY BOARD 21 INDEPENDENT AUDITORS' REPORT TO THE UNIT HOLDERS 18 STATEMENT OF ASSETS AND LIABILITIES 21 INCOME STATEMENT 22 STATEMENT OF COMPREHENSIVE INCOME 23 STATEMENT OF MOVEMENT IN UNIT HOLDERS' FUND 24 CASH FLOW STATEMENT 25 NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS 26 PERFORMANCE TABLE 45 02 NBP ACTIVE ALLOCATION RIBA FREE SAVINGS FUND FUNDS INFORMATION Management Company NBP Fund Management Limited - Management Company Board of Directors of Management Company Shaikh Muhammad Abdul Wahid Sethi Chairman Dr. Amjad Waheed Chief Executive Officer Mr. Saad ur Rahman Khan Director Syed Hasan Irtiza Kazmi Director Mr. Ali Saigol Director Mr. Imran Zaffar Director Mr. Khalid Mansoor Director Mr. Humayun Bashir Director Mr. Saad Amanullah Khan Director Company Secretary & COO Mr. Muhammad Murtaza Ali Chief Financial Officer Mr. Khalid Mehmood Audit & Risk Committee Mr. Saad Amanullah Khan Chairman Syed Hasan Irtiza Kazmi Member Mr. Imran Zaffar Member Mr. Humayun Bashir Member Human Resource Committee Mr. Khalid Mansoor Chairman Shaikh Muhammad Abdul Wahid Sethi Member Mr. Ali Saigol Member Mr. Humayun Bashir Member Strategy & Business Planning Committee Mr.
    [Show full text]
  • Mr. Farooq Rahmatullah Khan
    Mr. Farooq Rahmatullah Khan Farooq Rahmatullah Khan is a Law graduate. He joined Burma Shell Oil & Distribution Company in 1968 and worked in different roles in Chemicals, Human Resources, Marketing, Supply, Distribution, Retail, etc. He was transferred to Shell International London in 1994 as a Manager in the Business Strategy Division and was involved in various portfolios covering over 140 countries. On his return in 1998, he was appointed as Head of Operations of Shell Pakistan and was looking after Middle East and South Asia (MESA). In 2001, he was appointed as Chairman of Shell Companies in Pakistan and Managing Director of Shell Pakistan Limited. He is currently leading an Expert Energy group which has developed a 25-year Integrated Energy Plan (first time ever in the history of energy planning) for the country. This plan has been in principle accepted by the Government, Pakistan Business Council, international agencies and some other stakeholders. The Expert Energy group continues to work in updating and revising the energy plan on an annual basis and engaging political leadership and other stakeholders. Key Positions Held Chairman of Shell Companies in Pakistan and Managing Director of Shell Pakistan Limited Founding Member of PAPCO (Pak Arab Pipeline Company Limited) Director General of Civil Aviation Authority of Pakistan Chairman of Oil and Gas Development Company Limited Chairman of LEADS Pakistan Chairman of Pakistan Refinery Limited Founding Member of Pakistan Human Development Fund Member of the Economic Advisory Council, Ministry of Finance, Government of Pakistan Member of National Commission of Government Reforms Director on the Boards of PCB, PIA and Pakistan Stone Development Company He is serving on the Boards of Directors of Faysal Bank Limited Society for Sustainable Development Resource Development Committee of Aga Khan University Hospital Pakistan Refinery Ltd.-Director and Chairman of the Board Hascol Oil Company He is also a Trustee of Legends Trust (Formed by the Government of Sindh) Address: House No.
    [Show full text]
  • An Analysis of Mission Statement of Pakistani Commercial (Scheduled) Banks Using a Nine Points Scale Approach of Fred R. David
    ijcrb.webs.com JUNE 2012 INTERDISCIPLINARY JOURNAL OF CONTEMPORARY RESEARCH IN BUSINESS VOL 4, NO 2 An Analysis of Mission Statement of Pakistani Commercial (Scheduled) banks Using A Nine Points Scale approach of Fred R. David Muhammad Farrukh Moin 1, Ahsan Ali 2, Ali Nawaz Khan 3 M.S. Students, Department of Business Administration, Federal Urdu University of Arts, Science, and Technology, Islamabad Campus, Pakistan. Abstract = Objective The objective of this study was to make a comparative analysis of the mission statement of all the scheduled banks operating in Pakistan, in order to visualize the quality of its mission statement using a Nine Point Scale model given by Fred R. David. Methodology Publication of Sate Bank of Pakistan (SBP) (December, 2011) informs that 44 scheduled banks were operating in Pakistan till the closing of December 2011, out of them 22 were domestic private Pakistani banks, that means (50%) of the population. A number of 21 domestic private Pakistani banks were used as a convenient sample to make analysis in this study. Data needed to make comparative analysis of mission statement were collected from annual reports of (2010 and 2011) and websites of these private banks. Limitation This study was limited to the local private banks operating in Pakistan. Thus, it may lack high Generalisability. Researchers may expand the spectrum of study by investigating other types of banks operating in Pakistan. Findings Overall, the score card of mission statement of (scheduled) banking setups in Pakistan were found above the average score card of mission statement. Banks were more focused on customers and concern for survival, growth and profitability rather market, technology, employees and self concept.
    [Show full text]
  • Third Quarter Report March 31, 2021
    QUARTERLY REPORT 2020-21 Contents Corporate Information 2 Directors’ Report 3 Condensed Interim Balance Sheet 7 Condensed Interim Profit and Loss Account (unaudited) 8 Condensed Interim Statement of Comprehensive Income (unaudited) 9 Condensed Interim Cash Flow Statement (unaudited) 10 Condensed Interim Statement of Changes In Equity (unaudited) 11 Notes To The Condensed Interim Financial Statements (unaudited) 12 HabibMetro 1 Modaraba Management QUARTERLY REPORT 2020-21 Corporate Information BOARD OF DIRECTORS Syed Rasheed Akhtar - Chairman (Non-Executive Independent Director) Mr. Muhammad Shoaib Ibrahim - Chief Executive Officer Mr. Usman Nurul Abedin - Non-Executive Director Mr. Saeed Uddin Khan - Non-Executive Independent Director Mr. Mohammad Shams Izhar - Non-Executive Director Dr. Irum Saba - Non-Executive Director LEGAL ADVISOR BANKERS Mohsin Tayebaly & Company Habib Metropolitan Bank Limited (Islamic Banking) Ahmed & Qazi Advocates & Legal Consultants Meezan Bank Limited Al Baraka Bank Pakistan Limited AUDIT COMMITTEE Bankislami Pakistan Limited Mr. Saeed Uddin Khan - Chairman Dubai Islamic Bank Pakistan Limited Syed Rasheed Akhtar - Member Soneri Bank Limited (Islamic Banking) Mr. Mohammad Shams Izhar - Member - Secretary Mr. Anas Majid REGISTERED OFFICE HUMAN RESOURCE COMMITTEE 6th Floor, HBZ Plaza (Hirani Centre) Syed Rasheed Akhtar - Chairman I.I. Chundrigar Road, Karachi. Mr. Saeed Uddin Khan - Member Tel : 021-32635949-51 Mr. Mohammad Shams Izhar - Member Fax : 021-32627373 Mr. Tehsin Abbas - Secretary UAN : 111-346-346 Web : www.habibmodaraba.com SHARES REGISTRAR Email : fhm@habibmodaraba.com CDC Share Registrar Services Limited GEOGRAPHICAL PRESENCE - BRANCH OFFICES Share Registrar Department CDC House, 99-B, Block “B”, Karachi Branch: S.M.C.H.S 3rd Floor, Al-Manzoor Building, Main Shahrah-e-Faisal, Dr.
    [Show full text]