DOCSLIB.ORG

PAKISTAN Interviews Here

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
PAKISTAN Interviews Here SPECIAL ADVERTISING SECTION Photo. Shutterstock Read full PAKISTAN interviews here www.globalbusiness.uk.com “We started our aggressive implementation of our decided agenda as Vibrant Growth part of a manifesto and promise to the country. Pakistan was basically facing four challenges, or the four E’s: economy, energy shortage, extremism, education/health/social safety net.” Entices FDI Having tackled these hurdles head on, Pakistan has sent a clear message to the international community that it is open for business The ambitious country has made across its entire fiscal spectrum as it looks to maximize returns on its plentiful natural and human resources. tremendous strides through structural “There is great potential in Pakistan and real economic growth reforms and is now an investment magnet. along with a strategic location and very attractive fiscal incentives for investors,” Dar adds. “Multinationals have been here for decades and are very happy, as we offer protection of foreign investment and oasting a diversified and well-managed, stable property. Pakistan has a huge consumer market and provides very economy, Pakistan continues to perform impressively against the backdrop of lower commodity prices and global economic downturn, as structural reforms act “Our economy has experienced as a catalyst for fiscal growth and substantial foreign direct investment (FDI). an amazing turnaround in a much BMacroeconomic reforms have vastly improved the prospects of shorter period than expected.” the country, which, with 200 million people, remains the region’s Mohammad Ishaq Dar outstanding investment hotspot courtesy of its pro-business climate, Minister for Finance, Revenue, Economic Affairs, Statistics and Privatization prudent monetary policy, low inflation, and currency stability. Spearheading this proactive approach to the wide-ranging and successful fiscal overhaul was the Minister for Finance, Revenue, attractive rates of return on investment. Macroeconomic stability has Economic Affairs, Statistics and Privatization, Mohammad Ishaq Dar. returned, and foreign-exchange reserves are at a level where investors “Our economy has experienced an amazing turnaround in a much feel comfortable.” shorter period than expected,” he states proudly. “Structural reforms Privatization is a key cog of Pakistan’s comprehensive strategic have brought down the deficit, accelerated economic growth, averted socioeconomic development plan—“Vision 2025.” The blueprint a potential default in 2014, and increased foreign exchange reserves. promises to transform the nation’s economy within a decade through S1 www.fortune.com/adsections SPECIAL ADVERTISING SECTION that helps private sectors to undertake investment. All the growth will come through the private sector–led initiatives. This is our basic approach. “Because of this comprehensive process it takes a lot of time to complete the transaction, as it has to go through many levels. There is an evaluation committee; a transaction committee; directors drawn primarily from the private sector; and a cabinet committee on privatization.” Partially privatized, the National Bank of Pakistan (NBP) is a Mohammad Ishaq Dar Mohammad Zubair Shahid Khaqan Abbasi Minister for Finance, Revenue, Minister of State for Minister for Petroleum and major commercial bank with interests such as corporate investment, Economic Affairs, Statistics Privatization Natural Resources retail and consumer banking, agricultural financing, and treasury and Privatization services. With more than 1,400 domestic branches—and over 20 a multipronged approach in all industries and throughout the public international branches—the financial giant is a leading player in the and private sectors. debt-equity market and has a growing interest in promoting and de- Several major state-owned enterprises are poised to pass along veloping small and medium-size enterprises, while at the same time the privatization pipeline in the next few years, most notably Fais- fulfilling its social responsibilities as a corporate citizen. alabad Electric Supply Company (FESCO), Pakistan International Operating out of modern headquarters in Karachi, the institution Airlines (PIA), and Pakistan Steel Mills (PSM). continues to act as trustee of public funds and as the agent to the Next in the shopwindow are Lahore Electric Supply Co. (LESCO), State Bank of Pakistan (SBP) in areas where SBP has yet to establish Islamabad Electric Supply Co. (IESCO), and Northern Power Genera- a presence. tion Company Ltd. (NPGCL). Their passing into nonpublic control will Despite the recent fall in crude oil prices, opportunities abound help the country’s energy shortage. Such candidates hope to emulate in the oil and gas sector as the country looks to satisfy its energy the success of Allied Bank, which has become an international appetite. “Oil operations have always been successful, and no oil financial titan since its transfer to private hands a decade or so ago. company has ever lost money in Pakistan,” says Shahid Khaqan Ab- “It is not the job of the government to run commercial organizations,” basi, minister for petroleum and natural resources. “Every company in states Mohammad Zubair, minister of state for privatization. “The the industry has worked here. The returns are good for pipelines and job of the government is to create a conducive business environment LNG (liquid natural gas) terminals.” www.fortune.com/adsections S2 SPECIAL ADVERTISING SECTION The upbeat report came as no surprise to Dar, who said weeks prior to its release, “National reserves are at a historic high. We went Economy back in the international sovereign market after seven years; returned to the Sukuk market after nine years; and went back in the international equity market.” in Overdrive Pakistan’s banking sector is extremely competitive: Up to 40 financial service providers battle for a share of the fast-growing middle- Fiscal progress wins praise from global class market through mortgages, consumer finance, credit cards, loans, institutions and is a platform for growth. and savings and checking accounts. Large foreign players have also arrived in droves as they compete for investment, commercial, and retail customers. akistan’s remarkable macroeconomic turnaround over Industry leader National Bank of Pakistan (NBP) is currently financ- the past few years has not gone unnoticed by respected ing portions of the $50 billion of pioneering infrastructure projects global financial institutions such as the World Bank and under the CPEC, as president and CEO Syed Iqbal Ashraf, explains: the International Monetary fund (IMF). “CPEC is the turning point for Pakistan. It is a game changer as it will In August 2016, a group of experts from the IMF generate a lot of income for the good of the country. Before this govern- met with Finance Minister Mohammad Ishaq Dar and ment, we had a lot of our factories, textile mills, and other facilities that Pgovernment officials before publishing a glowing update on the coun- only operated at 30% to 35% capacity due to energy shortages. try’s fiscal progress, noting the government has laid the foundation for “This was a huge problem, but we will soon benefit from an addi- more inclusive growth. tional 3,600 megawatts of power capacity. One in Punjab is for 1,200 “Growth is expected to reach 5% in fiscal year 2016–17, sup- megawatts, and NBP, together with Habib Bank Limited (HBL), has ported by buoyant construction activity, strengthened private sector underwritten the whole $1 billion project. This is the first time in the credit growth, and an investment upturn related to the China-Pakistan history of Pakistan local banks have underwritten an entire project of Economic Corridor (CPEC),” the IMF noted. “Average inflation is ex- such magnitude. pected at around 5.2%, remaining well-anchored by continued prudent “NBP acts in line with government thinking, and we serve monetary policy. Gross international reserves reached $18.1 billion at around 1.6 million pensioners each month—the only bank to perform end-June 2016, covering over four months of prospective imports.” this activity.” S3 www.fortune.com/adsections SPECIAL ADVERTISING SECTION Meanwhile, as well as growing its conventional branch network, NBP is expanding its portfolio of branches that handle Islamic banking products, looking to tap into a market that has been growing around 35% a year. “We now have more than 110 Islamic branches at NBP and plan to apply for a license for an Islamic Bank with SBP, so we have a wholly owned subsidiary of Islamic banking,” he adds. Islamic banking practices fully compliant with Sharia law are also increasingly at the heart of other financial institutions’ activities, includ- ing Faysal Bank. A medium-size commercial bank, the group boasts Nauman Ansari Sirajuddin Aziz Syed Iqbal Ashraf a robust corporate investment banking business and more than 300 President and CEO President and CEO President and CEO, NBP branches across 80 cities. Faysal Bank HabibMetro Bank “Our asset deposit/ratio has always been above market,” says Faysal Bank president and CEO Nauman Ansari. “Our strengths are our a significant quantum of Pakistan’s trade business, and in 2015 the employees and customers, both on the wholesale and the retail side. Asian Development Bank recognized us as its leading partner in Paki- This is why we are poised for growth—opportunities that may come stan due to our role in the promotion of regional trade.” from the CPEC infrastructure-development side, or an uptake on the
Load more

Recommended publications
  • PSL Annual Report 2019.Pdf
    Designed & Produced by ASTRAL HATCH INC +92 310 1556777 Copyright 2019 Pakistan Services Limited (PSL). All rights reserved Published by: Pakistan Services Limited, Islamabad - Pakistan Pearl-Continental Hotel, Muzaffarabad Design, Layout & Photography by: Creative Unit, Marketing Department HOTELS & RESORTS CONTENTS 4 Vision & Mission Statements 6 Corporate Information 8 Corporate Objectives 10 Board of Directors 12 Notice of Annual General Meeting 16 Chairman’s Review 24 Directors’ Report 28 Key Operating and Financial Data 29 Horizontal Analysis 30 Vertical Analysis 31 Statement of Value Addition and its Distribution 34 Statement of Compliance with Listed Companies (Code of Coporate Governance) Regulations, 2017 38 Independent Auditors’ Report to the members on the Audit of the unconsolidated financial statements 43 Independent Auditors’ Review Report to the members on the Statement of Compliance contained in Listed Companies (Code of Coporate Governance) Regulations, 2017 44 Unconsolidated Statement of Financial Statement 46 Unconsolidated Statement of Profit or Loss 47 Unconsolidated Statement of Comprehensive Income 48 Unconsolidated Statement of Cash Flows 49 Unconsolidated Statement of Changes in Equity 50 Notes to the Unconsolidated Financial Statements 111 Pattern of Shareholdings 112 Disclosure to Pattern of Shareholdings 116 Consolidated Directors’ Report 118 Independent Auditors’ Report to the members on the Audit of the consolidated financial statements 124 Consolidated Statement of Financial Statement 126 Consolidated Statement of Profit or Loss 127 Consolidated Statement of Comprehensive Income 128 Consolidated Statement of Cash Flows 129 Consolidated Statement of Changes in Equity 130 Notes to the Consolidated Financial Statements Pearl-Continental Hotel, Karachi VISION STATEMENT We are committed to dynamic growth and service excellence built upon our heritage of traditional hospitality.
    [Show full text]
  • Posted Issuer
    Central Depository Company of Pakistan Limited Element Report Page# : 1 of 267 User : XKYFSI2 Report Selection : Posted Date : 04/11/2020 Element Type : Issuer Time : 06:02:58 Element ID : ALL Location : ALL Status : Active From Date : 01/01/1996 To Date : 04/11/2020 Element Id Element Code Element Name Phone / Fax Contact Name CDC Loc Role Code Maximum User Status Main A/c Address eMail Address Designation Client A/c CM Option No. Date -------- -------- ------------------------ ---------------------- --------------- --------- -------- ----------- -------- 00002 EFU GENERAL 2313471-90 ALTAF QAMRUDDIN KHI Active INSURANCE LIMITED GOKAL 3RD FLOOR, 2314288 CFO AND 08/06/1998 QAMAR HOUSE, CORPORATE M. A. JINNAH ROAD, SECRETARY KARACHI. 00003 HABIB INSURANCE 111-030303 SHABBIR A. KHI Active COMPANY LIMITED GULAMALI 1ST FLOOR, STATE 32421600 CHIEF 01/09/1997 LIFE BLDG. NO. 6, EXECUTIVE HABIB SQUARE, M. A. JINNAH ROAD, [email protected] KARACHI. et 00004 HAYDARI 2411247 ALI ASGHAR KHI Active CONSTRUCTION RAJANI COMPANY LIMITED MEZZANINE FLOOR, 2637965 CHIEF 10/03/2004 UBL BUILDING, EXECUTIVE OPP. POLICE HEAD OFFICER OFFICE, I.I CHUNDRIGAR ROAD, KARACHI. 00005 K-ELECTRIC LIMITED 38709132 EXT:9403 AMJAD MUSTAFA KHI Active Central Depository Company of Pakistan Limited Element Report Page# : 2 of 267 User : XKYFSI2 Report Selection : Posted Date : 04/11/2020 Element Type : Issuer Time : 06:02:58 Element ID : ALL Location : ALL Status : Active From Date : 01/01/1996 To Date : 04/11/2020 Element Id Element Code Element Name Phone / Fax Contact Name CDC Loc Role Code Maximum User Status Main A/c Address eMail Address Designation Client A/c CM Option No. Date -------- -------- ------------------------ ---------------------- --------------- --------- -------- ----------- -------- 1ST FLOOR, 32647159 MANAGER, 01/09/1997 BLOCK-A, CORPORATE AFFAIRS POWER HOUSE, [email protected] ELANDER ROAD, KARACHI 00006 MURREE BREWERY 5567041-7 CH.
    [Show full text]
  • Habib Metropolitan Bank Limited 2
    The Pakistan Credit Rating Agency Limited Rating Report Report Contents 1. Rating Analysis Habib Metropolitan Bank Limited 2. Financial Information 3. Rating Scale 4. Regulatory and Supplementary Disclosure Rating History Dissemination Date Long Term Rating Short Term Rating Outlook Action Rating Watch 25-Jun-2021 AA+ A1+ Stable Maintain - 26-Jun-2020 AA+ A1+ Stable Maintain - 27-Dec-2019 AA+ A1+ Stable Maintain - 27-Jun-2019 AA+ A1+ Stable Maintain - 27-Dec-2018 AA+ A1+ Stable Maintain - 28-Jun-2018 AA+ A1+ Stable Maintain - 30-Dec-2017 AA+ A1+ Stable Maintain - 23-Jun-2017 AA+ A1+ Stable Maintain - 23-Jun-2016 AA+ A1+ Stable Maintain - Rating Rationale and Key Rating Drivers The ratings of Habib Metropolitan Bank (HabibMetro) is vested in the brand strength of the Bank, flanked by a family of astute bankers. The Bank is also associated with a diversified and financially strong international bank - Habib Bank AG Zurich (HBZ). This association helps in assimilating the parent's best practices into HabibMetro, while fostering control environment with enhanced level of oversight. The Bank has a formidable presence in the trade business of Pakistan. The benefits continue to accrue in terms of non-markup income. The Bank has a strong forte in the business hub of Pakistan in terms of its presence and contribution of deposits and advances. The Bank grew its customers deposit base by 19.5%, wherein it enhanced its current account deposits by 25.7%, higher than the sector's growth. The Bank continues to remain focused on improving its deposit mix. The Bank’s emphasis in terms of its loan portfolio is evident by the growth of 18.6% in net advances, led by its presence in textile and commodity finance segments.
    [Show full text]
  • The Role and Impact of Merger & Acquisition of Banking
    Financial Markets, Institutions and Risks, Volume 3, Issue 3, 2019 ISSN (online) – 2521-1242 ISSN (print) – 2521-1250 The Role and Impact of Merger & Acquisition of Banking Sector in Pakistan Kishwar Ali School of Finance, Zhongnan University of Economics & Law, Wuhan, China Atta Ullah School of management, Huazhong University of Science and Technology, Wuhan China Abstract The paper summarizes the arguments and counterarguments in the scientific discussion on determining the effects of mergers and acquisitions for banking institutions. The purpose of this article is to conduct an empirical study to identify the nature of the impact of mergers and acquisitions on Pakistan's financial sector performance. The research in the article is carried out in the following logical sequence: a thorough literature review on the analysis of key aspects of mergers and acquisitions and their impact on the financial and economic performance of banks before and after their practical implementation; the historical basis of the experience of mergers and acquisitions caused by various economic factors, such as: GDP growth, interest rates on loans, monetary policy; financial analysis of bank profitability, solvency and liquidity indicators before and after the merger and acquisition was conducted. Five commercial banks of Pakistan that were involved in the merger and acquisition processes were selected as the subject of study. The study period is presented before and after the merger and includes two years before the acquisition report and two years after the acquisition announcement by analysis of financial ratios of liquidity, solvency and profitability. The results of empirical and theoretical research have shown that there is a positive relationship between merger and acquisition processes and liquidity ratios of banking institutions; and - the negative impact of such processes on banks' profitability and solvency in the short term.
    [Show full text]
  • Consortium Contact Detail (Lahore).Xlsx
    Bank Name Bank of Punjab ‐ Taqwa Islamic Banking Bank Name Meezan Bank 1st Contact person detail 1st Contact person detail Name Ghulam Mustafa Name Muhammad Ehtisham Contact number 0300‐6980309 Contact number 0304‐0920521 / 0345‐4511110 e‐mail address [email protected] e‐mail address [email protected] BOP, 7th floor, big city plaza, liberty Address roundabout opposite monal restaurant, Address 60‐Main boulevard gulberg Lahore main boulevard gulberg Lahore 2nd Contact person detail 2nd Contact person detail Name Abdul Rasheed Name Tassawar Hussain Contact number 0322‐4662808 Contact number 0304‐0920597 / 0345‐4548548 e‐mail address [email protected] e‐mail address [email protected] BOP, 7th floor, Big City Plaza, Liberty Address Roundabout Opposite Monal Restaurant, Address 60‐Main Boulevard Gulberg Lahore Main Boulevard Gulberg III Lahore Bank Name Faysal Bank limited Bank Name National Bank limited 1st Contact person detail 1st Contact person detail Name Syed Mazhar Arslan Name Mr. Farhan Ashraf Contact number 0321‐9449778 Contact number 042‐99268193 / 0321‐4998908 e‐mail address [email protected] e‐mail address [email protected] Faysal Bank, 1‐C, Sikandar Malhi Road, Address Address NBP, 69‐B, Main Boulevard, Gulberg II, Lahore. Canal Park, Gulberg II, Lahore 2nd Contact person detail 2nd Contact person detail Name Fahad Ali Name Mr. Muhammad Ashraf Contact number 0334‐4108658 Contact number 042‐99268428 / 0333‐4786078 e‐mail address [email protected] e‐mail address [email protected] Faysal Bank, 1‐C, Sikandar Malhi Road, NBP, Mezzanine Floor, Pace Tower, 27‐H, College Address Address Canal Park, Gulberg II, Lahore Road, Gulberg II, Lahore.
    [Show full text]
  • Capacity Building Training Workshop on Islamic Finance
    Event Report of Capacity Building Training Workshop on Islamic Finance in collaboration with State Bank of Pakistan (SBP) at COMSATS Institute of Information Technology (CIIT) Islamabad November 1-2, 2017 Registration of Participants Registered participants from various banks and ullemas started arriving at the given time. Members of organizing committee welcomed the distinguished guests and confirmed their registration at registration desk. Opening Ceremony The opening ceremony started on Wednesday, November 1, 2017 with the recitation of Al-Quran. Mr Yasir Kundi,Lecturer Department of Management Sciences, recited verses from Al-Quran on the essence of faith in ALLAH TAALHA. The ceremony was presided by honourable chief guest Prof. Dr. Khalid Riaz, Dean Faculty of Business Administration, COMSATS Institute of Information Technology, Dr. Abdus Sattar Abbasi, Head of Center of Islamic Finance (CIF) and Mufti Irshad Ahmad Aijaz, Chairman Supervisory Board, BankIslami Pakistan Limited. Dr. Abdus Sattar Abbasi, Head of CIF and Managing Editor CJIF welcomed all the participants and briefed about the activities held at Center of Islamic Finance (CIF). He told the audience that CIF is serving the noble cause of promoting research, training & development, Shariah advisory and extensive outreach in the area of Islamic finance. Dr. Abbasi also informed about COMSATS Journal of Islamic Finance (CJIF) to the audience. The chief guest of the event Prof. Dr. Khalid Riaz, Dean Faculty of Business Administration, COMSATS Institute of Information Technology, Islamabad, addressed the gathering. He highlighted the role of Islamic Finance in the context of Pakistan economy and appreciated the role played by CIF in enhancing the awareness about Islamic Finance.
    [Show full text]
  • List of Pakistani Enterpreneurs for B2B Meetings
    List of Pakistani Enterpreneurs for B2B Meetings 1 - Abdoolally Moosabhoy & Sons Hoosam Arms & Aromas (Pvt) Ltd., Address: Azzainab Court, Campell Street, Karachi Tel: +92-21-2628213 Fax: +92-21-2626035 email: [email protected] Form Partnership Concern Annual Turn US$ 5 Million Estbd 1880 No of Employees: 40 Major Activties: Manufacturers of flavours, food colors, fragrances, food additives and ingredients. Importers of chemicals for food soap, personal care and fine fragrences Subisdiaries Bush Boake Allen Pakistan (Pvt) Ltd; Hoosam Arms and Aroma (Pvt) and Associate Ltd; Hoosain Bhai A. Bandukwala (Pvt) Ltd Indicative Chemical additives for food industry Interest in Collaboration Certifications and awards: Delegate: Mr. Saifuddin H. Bandukwala, Partner/Chief Executive Page 1 of 59 2 - Agha Khan Foundation Address: Civic Centre, Old British Council Building, G-6, Islamabad. Tel: 051-2275746 Fax: email: [email protected] Form Annual Turn - Estbd 0 No of Employees: 0 Major Activties: SME development Subisdiaries and Associate Indicative Fruit processing plants, fruit drying Interest in Collaboration Certifications and awards: Delegate: Malik Asif Hayat Manager Enterprise Development Page 2 of 59 3 - Akbar Group of Companies Address: Blue Area, Islamabad Tel: 051-2829623 Fax: 051-2829550 email: Form Annual Turn - Estbd 0 No of Employees: 0 Major Activties: Ailine (GSA), Aircargo, UPS, travel insurance, Nike sportwear Subisdiaries and Associate Indicative Motorcycle and bicycle Interest in Collaboration Certifications and awards: Delegate: Khawaja Ghias Page 3 of 59 4 - Alameen Trading Corporation (Pvt) Ltd. Address: Plot No. 23, Sector 24, Korangi Industrial Area, Karachi Tel: +92-21-5055363-64 Fax: +92-21-5055625 email: [email protected] Form Private Limited Annual Turn 25-30 Estbd 1947 No of Employees: 200 Major Activties: Representation of European Textile machinery in dyeing, printing and weaving.
    [Show full text]
  • Habibmetro Modaraba Management (AN(AN ISLAMICISLAMIC FINANCIALFINANCIAL INSTITUTION)INSTITUTION)
    A N N U A L R E P O R T 2017 1 HabibMetro Modaraba Management (AN(AN ISLAMICISLAMIC FINANCIALFINANCIAL INSTITUTION)INSTITUTION) 2 A N N U A L R E P O R T 2017 JOURNEY OF CONTINUOUS SUCCESS A long term partnership Over the years, First Habib Modaraba (FHM) has become the sound, strong and leading Modaraba within the Modaraba sector. Our stable financial performance and market positions of our businesses have placed us well to deliver sustainable growth and continuous return to our investors since inception. During successful business operation of more than 3 decades, FHM had undergone with various up and down and successfully countered with several economic & business challenges. Ever- changing requirement of business, product innovation and development were effectively managed and delivered at entire satisfaction of all stakeholders with steady growth on sound footing. Consistency in perfect sharing of profits among the certificate holders along with increase in certificate holders' equity has made FHM a sound and well performing Modaraba within the sector. Our long term success is built on a firm foundation of commitment. FHM's financial strength, risk management protocols, governance framework and performance aspirations are directly attributable to a discipline that regularly brings prosperity to our partners and gives strength to our business model which is based on true partnership. Conquering with the challenges of our operating landscape, we have successfully journeyed steadily and progressively, delivering consistent results. With the blessing of Allah (SWT), we are today the leading Modaraba within the Modaraba sector of Pakistan, demonstrating our strength, financial soundness and commitment in every aspect of our business.
    [Show full text]
  • Prospectus, Especially the Risk Factors Given at Para 4.11 of This Prospectus Before Making Any Investment Decision
    ADVICE FOR INVESTORS INVESTORS ARE STRONGLY ADVISED IN THEIR OWN INTEREST TO CAREFULLY READ THE CONTENTS OF THIS PROSPECTUS, ESPECIALLY THE RISK FACTORS GIVEN AT PARA 4.11 OF THIS PROSPECTUS BEFORE MAKING ANY INVESTMENT DECISION. SUBMISSION OF FALSE AND FICTITIOUS APPLICATIONS ARE PROHIBITED AND SUCH APPLICATIONS’ MONEY MAY BE FORFEITED UNDER SECTION 87(8) OF THE SECURITIES ACT, 2015. SONERI BANK LIMITED PROSPECTUS THE ISSUE SIZE OF FULLY PAID UP, RATED, LISTED, PERPETUAL, UNSECURED, SUBORDINATED, NON-CUMULATIVE AND CONTINGENT CONVERTIBLE DEBT INSTRUMENTS IN THE NATURE OF TERM FINANCE CERTIFICATES (“TFCS”) IS PKR 4,000 MILLION, OUT OF WHICH TFCS OF PKR 3,600 MILLION (90% OF ISSUE SIZE) ARE ISSUED TO THE PRE-IPO INVESTORS AND PKR 400 MILLION (10% OF ISSUE SIZE) ARE BEING OFFERED TO THE GENERAL PUBLIC BY WAY OF INITIAL PUBLIC OFFER THROUGH THIS PROSPECTUS RATE OF RETURN: PERPETUAL INSTRUMENT @ 6 MONTH KIBOR* (ASK SIDE) PLUS 2.00% P.A INSTRUMENT RATING: A (SINGLE A) BY THE PAKISTAN CREDIT RATING COMPANY LIMITED LONG TERM ENTITY RATING: “AA-” (DOUBLE A MINUS) SHORT TERM ENTITY RATING: “A1+” (A ONE PLUS) BY THE PAKISTAN CREDIT RATING AGENCY LIMITED AS PER PSX’S LISTING OF COMPANIES AND SECURITIES REGULATIONS, THE DRAFT PROSPECTUS WAS PLACED ON PSX’S WEBSITE, FOR SEEKING PUBLIC COMMENTS, FOR SEVEN (7) WORKING DAYS STARTING FROM OCTOBER 18, 2018 TO OCTOBER 26, 2018. NO COMMENTS HAVE BEEN RECEIVED ON THE DRAFT PROSPECTUS. DATE OF PUBLIC SUBSCRIPTION: FROM DECEMBER 5, 2018 TO DECEMBER 6, 2018 (FROM: 9:00 AM TO 5:00 PM) (BOTH DAYS INCLUSIVE) CONSULTANT TO THE ISSUE BANKERS TO THE ISSUE (RETAIL PORTION) Allied Bank Limited Askari Bank Limited Bank Alfalah Limited** Bank Al Habib Limited Faysal Bank Limited Habib Metropolitan Bank Limited JS Bank Limited MCB Bank Limited Silk Bank Limited Soneri Bank Limited United Bank Limited** **In order to facilitate investors, United Bank Limited (“UBL”) and Bank Alfalah Limited (“BAFL”) are providing the facility of electronic submission of application (e‐IPO) to their account holders.
    [Show full text]
  • IBFT- Account Number Formats
    IBFT- Account Number Formats Allied Bank Please enter Allied Bank Account Number by following the layout below: Total Digits of Account Number: 13 or 20 Digits Format Example: BBBBAAAAAAAAA or BBBBAAAAAAAAAAAAAAAA BBBB = 4 Digit Branch Code, AAAAAAAAA = 9 Digit Account Number, AAAAAAAAAAAAAAAA = 16 Digit Account Number Apna Microfinance Bank Please enter Apna Microfinance Bank Account Number by following the layout below: Total Digits of Account Number: 16 Digits Format Example: BBBBAAAAAAAAAAAA BBBB = 4 Digit Branch Code, AAAAAAAAA = 12 Digits Askari Bank Please enter Askari Bank Account Number by following the layout below: Total Digits of Bank Account Number: 14 Digits Format Example: BBBB = 4 Digit Branch Code, AAAAAAAAAA = 10 Digit Account Number Branchless Banking Account # Always consist of 11 digits Mobile Number. Al-Baraka Please enter Bank Al-Baraka total digits of account Number: Total Digits of Account Number: 13 Digits Bank Alfalah Please enter Bank Alfalah Account Number by following the layout below: Conventional A/C#: Total Digits of Account Number: 14 Format Example: BBBBAAAAAAAAAA BBBB = 4 Digit Branch Code, AAAAAAAAAA = 10 Digit Account Number Islamic A/C#: Total Digits of Account Number: 18 Digit Format Example: BBBBAAAAAAAAAAAAAA BBBB = 4 Digit Branch Code, AAAAAAAAAAAAAA = 14 Digit Account Number Branchless Banking Account # : Always consist of 11 digits Mobile Number. Bank Al-Habib Please enter Bank Al-Habib Account Number by following the layout below: Total Digits of Account Number: 17 Digit Format
    [Show full text]
  • SOC-Islamic-Jan-June-2021.Pdf
    SHARIAH CERTIFICATE Faysal Bank Limited - Islamic Banking, Schedule of Charges (SOC) for the period of January 01, 2021 - June 30, 2021. has been reviewed and found to be in compliance with Shariah principles. And Allah knows the Best. Regards Mufti Muhammad Abdullah Mufti Mohib Ul Haq Siddiqui Resident Shariah Board Member Chairman Shariah Board www.faysalbank.com/en/islamic 1 Content S. No. Description Page Trade Services 1 Imports 4 2 Exports 12 3 Inland Letter of Credit 13 4 Guarantees 18 5 Miscellaneous 18 General Banking 1 Deposit of Drafts & Cheques 19 Issuance/Cancellation of Demand Draft 2 19 (LCY&FCY) & Pay Order Remittances and Collection of Cheques 3 20 (LCY & FCY) 4 Clearing (Outward) 21 5 Cheque Return Charges 21 6 Cheques / Cheque Books 21 7 Standing Instructions Fee 21 8 Faysal Islamic Basic Banking Account 22 Charges for Not Maintaining Minimum Monthly 9 22 Average Balance Minimum monthly average balance of Faysal 10 22 Islamic Banking Accounts Profit Payment Frequencies of Faysal Islamic 11 23 Banking Accounts Minimum Average balance requirement for profit 12 24 payment 13 Article in Safe Deposit Fee 24 14 Safe Deposit Lockers 25 15 Miscellaneous 25 16 Faysal Islamic-Barkat Investment Certificate (BIC) 26 Premature Encashment of Faysal Islamic - Barkat 17 29 Investment Certificates (LCY & FCY) 18 Premature Encashment Illustrations 30 19 Communication Tariff 32 20 Faysal Islamic Rehmat Business Account 33 21 Roshan Digital Account 35 Cash Management Services 1 Electronic Channels 38 2 www.faysalbank.com/en/islamic Content
    [Show full text]
  • CRF-Asaan-Eng-Min.Pdf
    General Terms Governing the Opening and Operation of Account(s) Ver: T&C 3.2.01.17 These terms and conditions are consistent with Code of Banking practices, issued vide CPD Circular no. 2 of 2015 Definitions and abbreviations: In these terms and conditions, following are the definitions of certain words and abbreviations used: “1 Link”: 1Link (Guarantee) Limited, a consortium of major Banks that owns and operates the shared financial services network in Pakistan through which CARDHOLDER may use his / her CARD. “M-Net”: Another shared financial services network in Pakistan through which CARDHOLDER may use his / her CARD. “ACCOUNT”: Means a Rupee Bank Account maintained by a Customer with the Bank. All references that refer to singular shall be deemed to include plural. “ACCOUNT HOLDER”: Means a person(s) who maintain(s) one Asaan Account with the Bank. “ACCOUNT INFORMATION”: Means information pertaining to the Account(s) maintained by the Customer with the Bank. “ALTERNATE CHANNEL”: Means Customer touch point other than BRANCH, including but not limited to ATM, Mobile, Internet, POS, Call Center, Phone Banking etc through which transactions/instructions/or requests can be performed or taken. “ATM”: Means Automated Teller Machine installed and operated by the Bank in Pakistan and / or abroad and / or Automated Teller Machines of Banks participating in the Linked Network and / or the Automated Teller Machines of Banks or financial institutions in Pakistan and / or abroad where card is accepted. “Bank”: refers to Faysal Bank Limited. “Branch”: An office of Faysal Bank authorized to conduct Customer banking transactions. “BENEFICIARY”: Means the recipient of funds or other services as prescribed by the sender of funds, who may also be the ACCOUNT HOLDER.
    [Show full text]