DOCSLIB.ORG

Annual Report 2010 UBL Capital Protected Fund - I (UCPF-I) Vision, Mission & Core Values

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2010 UBL Capital Protected Fund - I (UCPF-I) Vision, Mission & Core Values Annual Report 2010 UBL Capital Protected Fund - I (UCPF-I) Vision, Mission & Core Values Vision We will be the leader in the industry by being the first choice investment solution provider, offering investment advisory services, with an international presence; renowned for being client centric, quality conscious and innovative. Mission Offer value added products & services while adhering to the highest level of ethical standards Attract, develop & retain exceptional talent that shapes our passion for excellence and our commitment to teamwork Listen carefully to all our stakeholders and deliver winning solutions Be a responsible corporate citizen Core Values Respect Excellence Customer Focus Quality Honesty CORPORATE INFORMATION BOARD OF DIRECTORS CHIEF FINANCIAL OFFICER FUNDS UNDER & COMPANY SECRETARY MANAGEMENT Tariq Kirmani Chairman Rahim Khakiani UBL Liquidity Plus Fund Launch Date: 21 June 2009 Mir Muhammad Ali, CFA REGISTERED OFFICE Chief Executive United Growth & Income Fund Launch Date: 2 March 2006 Mohammad Asghar 8th Floor, State Life Building Director Number 1, I. I. Chundrigar Road, Karachi, Pakistan. United Stock Advantage Fund Launch Date: 4 August 2006 Shabbir Hussain Hashmi Director CORPORATE OFFICE United Islamic Income Fund Launch Date: 20 October 2007 Aameer M. Karachiwalla 8th Floor, Executive Tower, Director Dolmen City Building, Block-4, United Composite Islamic Fund Clifton, Karachi, Pakistan. Launch Date: 24 December 2006 Ali Sameer Tel: (92-21) 35290080-95 Director Fax: (92-21) 35290070 UBL Capital Protected Fund-I Saeed Iqbal Launch Date: 23 March 2008 Director OPERATIONS OFFICE UBL Capital Protected Fund-II AUDIT COMMITTEE 4th Floor, STSM Building, Launch Date: 23 May 2010 Beaumont Road, Civil Lines, Shabbir Hussain Hashmi Karachi, Pakistan. UBL Retirement Savings Fund Chariman UAN: (92-21) 111-825-262 Launch Date: 10 May 2010 Fax: (92-21) 32214930 Aameer M. Karachiwalla UBL Islamic Retirement Member DATE OF Savings Fund INCORPORATION OF THE Launch Date: 10 May 2010 Saeed Iqbal MANAGEMENT COMPANY Member INVESTMENT PLANS Incorporated in Pakistan on RISK MANAGEMENT 3 April 2001 as a Public Limited UBL Principal Protected Plan-I COMMITTEE Company under the Conventional Companies Ordinance, 1984 Ali Sameer UBL Principal Protected Plan-II Chairman MANAGEMENT QUALITY Conventional RATING Aameer M. Karachiwalla Mahana Munafa Plan Member AM2 High Management Conventional & Islamic Mir Muhammad Ali, CFA Quality by JCR-VIS Credit Rating Member Company Sarmaya Izafa Plan Conventional & Islamic HR & COMPENSATION Profit + Growth Plan COMMITTEE Conventional & Islamic Tariq Kirmani Mera Kal - Children Savings Plan Chairman Conventional Shabbir Hussain Hashmi Member Saeed Iqbal Member THIS PAGE HAS BEEN LEFT BLANK INTENTIONALLY TABLE OF CONTENTS 05 Fund Information 06 Directors Report 09 Fund Managers Report 10 Performance Table 11 Report of the Trustee to the Certificate holders 12 Statement of Compliance with Code of Corporate Governance 14 Review Report to the Certificate holders on Statement of Compliance 15 Independent Auditors Report to the Certificate holders 16 Statement of Assets and Liabilities 17 Income Statement 18 Statement of Comprehensive Income 19 Distribution Statement 20 Cash Flow Statement 21 Statement of Changes in Equity 22 Statement of Movements in Equity and Reserves Per Certificate 23 Notes to the Financial Statements UBL CAPITAL PROTECTED FUND-I INVESTMENT OBJECTIVE To protect the principal investment of the investors and aggressively partcipate in equity markets to provide investors a high level of total return over the Capital Protection Period. FUND INFORMATION Management Company UBL Fund Managers Limited Trustee MCB Financial Services Ltd. (formerly Muslim Commercial Financial Services Ltd.) 3rd Floor, Adamjee House, I.I. Chundrigar Road, Karachi. Tel: +92 (21) 32438441, 32428731 Auditors KPMG Taseer Hadi & Co. - Chartered Accountants Registrar THK Associates (Pvt.) Ltd. Ground Floor, State Life Building No. 3, Dr. Ziauddin Ahmed Road, Karachi-75530 Tel: +92 (21) 111-000-322 Legal Advisor Sattar & Sattar (Attorneys at Law) Bankers United Bank Limited Bank Alfalah Limited Deutsche Bank AG. Directors Report The Board of Directors of UBL Fund Managers Limited is rates (US: 0.25% | UK: 0.5% | ECB:1%) and massive pleased to present to you the Annual Report of "UBL government bailouts / economic packages. However, Capital Protected Fund - 1" (UCPF-I) for the year ended the Dubai and Greek crisis during later part of the year June 30, 2010. put significant question-marks on the sustainability of the recovery. Concerns regarding the strength of Euro- Economy & Money Market Review - FY10 zone economy led to 12.8% depreciation in Eur/USD and a global sell-off in equities. Inflation in major emerging Pakistan's macro-economic indicators improved economies (India / China) also worried the policy makers significantly in fiscal year 2010 which can be termed as and monetary tightening in these regions further year of economic recovery for Pakistan. Majority of the dampened global economic growth. We expect global macro-economic indicators closed the year on a positive economic recovery to be a gradual / prolonged process. note after the chaos emanated in 2009. The country's As the re-payments of the bailout packages start coming GDP growth recovered to 4.1% in FY10 from a 10 year due, inflation will likely become a key concern in developed low of 1.2% in FY09. Headline inflation (CPI) declined to economies as well, reducing the probability of a quick 11.73%YoY from its peak of 20.8% in FY09 despite economic recovery. significant reduction in subsidies provided by the Government of Pakistan (GoP) - giving "State bank of Stock Market Review - FY'10 Pakistan" (SBP) the room to cut policy rate from 14% to 12.50% during the year. The current account deficit The KSE100 index closed the FY'10 at 9,722 points, up declined to US$3.5bn, down 62% YoY in FY10, which 35.7% - one of the best-performing markets during the helped reduce the pressure on balance of payments year. The performance of Islamic equity index for Pakistan significantly. Foreign exchange reserves increased to (DJIMPK) also followed the broad market and recorded USD16bn in FY10, from USD11.5bn in FY09. The rate of 36.9% return during FY'10. The daily average trading PKR / USD depreciation tapered down to 5.6% in FY10 volumes for KSE100 index during the period stood at from a staggering 19% in FY09. The stabilization in the 118mn shares. Majority of the gains (KSE100: 31.07% | local economy and improved risk-perception was also KMI30: 29.17%) were made in the first-half of the year, acknowledged by international markets as Pakistan Euro driven by improved economic indicators which fuelled bond yield declined by 600bps to 8.4% during FY10 and both domestic and foreign investor sentiment. The later "Credit Default Swap" (CDS) spread narrowed to 6.6%. half of the year was a period of consolidation as security However, Fiscal deficit continued to be a source of issues, political uncertainty and concerns regarding the concern as it widened to 4.2% of GDP in 9mFY10 and is impact of "value added tax" (VAT) and "Capital Gains likely to violate the IMF ceiling of 5.1% of GDP (GoP Tax" CGT dampened investor confidence. Foreign revised target: 5.8% of GDP). Healthy remittances inflow investors took exceptional interest in the market as foreign of USD8.9bn) and hefty inflow from the IMF program of portfolio investment inflow of USD 568mn was recorded USD3.53bn (Total disbursed: USD8.7bn | Remaining: during the year, a sharp contrast to the net outflows of USD2.6bn) in FY10 helped the GoP bridge its sizable USD 445mn last year. deficit. Disbursal of remaining tranches from IMF is conditional upon the implementation of the "Value Added The corporate sector's performance was fairly steady Tax" by GoP to improve the tax-to-GDP ratio which stood during the period, in-line with the gradual improvement at a subdued 8.8% in FY10. Improvement in tax collection in the real economy. Banking sector maintained its will be a gradual process as it will require a change in average net-interest margins above an impressive 7.3% mindset of the populace as well as an extensive despite decline in interest rate environment. NPL accretion infrastructure to minimize tax evasion. Although we continued to be a concern during the early part of the expect the officially recorded remittance figures to year; however it is expected to taper off during the later continue growing, we still expect GoP to resort to part of the period. Lower NPL accretion and potential borrowing from foreign and domestic institutions to provision reversals in the future can help boost the sector's meet its expenses - a second IMF program is likely on the earnings. The sector has shifted its preference to lending cards. to Government (investments) from lending to the private sector (advances) which has significantly reduced the risk Circular-debt and power shortage issues continued to inherent in the sector. OMC sector enjoyed high growth act as a drag on the economic activity during the year. in POL product offtake and inventory gains from rise in Circular debt stood at PKR130bn at the end of the year international oil prices during early part of the year. Oil & despite two TFC issues (PKR160bn) during the year to Gas (E&P) sector saw marginal decline in oil & gas resolve the problem. The power shortage in the country production; however it will be compensated by reasonably is estimated around 4,800MW and is a serious dampener strong international oil prices during large part of the on industrial production and exports - GoP plans to set- year as well as PKR / USD depreciation. E&P, being a cash up rental power plants as a temporary solution to the rich sector, continued to benefit from higher interest problem. rates that prevailed during the period. Fertilizer sector benefited from growth in urea prices and DAP offtake, The global economy exhibited signs of recovery during which compensated for the marginal growth in urea off- early part of the year, fuelled by historically low interest take and decline in DAP prices.
Load more

Recommended publications
  • (Winner)MCB Bank Limited Best Bank of the Year 2017 – Mid Size Banks
    Banking: Best Bank of the year 2017 – Large Size Banks (Winner)MCB Bank Limited Best Bank of the year 2017 – Mid Size Banks (Winner) Bank Al Habib Limited Best Bank of the year 2017 – Small Size Banks Industrial and Commercial Bank of China (Winner) Limited Best Islamic Window of the year 2017 (Winner) Habib Bank Limited Best Islamic Bank of the year 2017 (Winner) Meezan Bank Limited Corporate Finance: Transaction of the year 2017 (Winner) Habib Bank Limited for Dasu Hydropower Project Best Corporate Finance House of the year (Fixed Income) 2017 United Bank Limited (Winner) Best Corporate Finance House of the year (Fixed Income) 2017Habib Bank Limited (Runner-up) Best Corporate Finance House of the year (Equity & Advisory) - Banks Bank Alfalah Limited 2017 (Winner) Best Corporate Finance House of the year (Equity & Advisory) - Banks United Bank Limited 2017 (Runner-up) Best Corporate Finance House of the year (Equity & Advisory) – Arif Habib Limited Security Firms 2017 (Winner) Best Corporate Finance House of the year (Equity & Advisory) – AKD Securities Limited Security Firms 2017 (Runner-up) Investor Relations: Best Investor Relations – Listed Companies 2017 (Winner) Bank Alfalah Limited Best Investor Relations – Listed Companies 2017 (Runner-up) Engro Fertilizers Limited Women in Finance Initiative: Gender Diversity at Workplace Award 2017 (Winner) Unilever Pakistan Limited Recognizing Gender Diversity Award – Special Recognition: Local National Foods Limited Industry 2017 (Winner) Recognizing Gender Diversity Award – Special Recognition:
    [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]
  • COMPARATIVE ANALYSIS of FINANCIAL PERFORMANCE and GROWTH of CONVENTIONAL and ISLAMIC BANKS of PAKISTAN Ishtiaq Khan, Sarhad University of Science & IT, Peshawar
    COMPARATIVE ANALYSIS OF FINANCIAL PERFORMANCE AND GROWTH OF CONVENTIONAL AND ISLAMIC BANKS OF PAKISTAN Ishtiaq Khan, Sarhad University of Science & IT, Peshawar. Email: [email protected] Wali Rahman, Associate Professor, Sarhad University of Science & IT, Peshawar. Email: [email protected] Saeedullah Jan, Khushal Khan Khattak University, Karak. Email: [email protected] Mustaq Khan, Abasyn University of Science & IT, Peshawar Email: [email protected] Abstract. Various types of the banking system are operating in the world. The most commons are conventional and Islamic. Customers evaluate these systems before they decide in invest. The prime aim of this study is to assess and compare the financial performance and growth of conventional and Islamic banks operating in Pakistan. Banks offer different types of products and services for the satisfaction of customers for their financial needs. Conventional banking is based on interest while Islamic banking offers interest-free banking. To compare their respective performance financial ratios are applied. In Pakistan, Habib Bank Limited and Allied Bank Limited are typical examples of the conventional banking whereas Dubai Islamic Bank Limited and Meezan Bank Limited are operating as Islamic banking. Three (03) years data were obtained from the “Financial Statement Analysis of Financial Sector of Pakistan 2009-2011” State Bank of Pakistan publication. The analyses reflect that the liquidity ratio of Islamic banks appeared higher as compared to conventional banks, whereas the profitability and solvency ratios of conventional banks were comparatively higher than Islamic banks. Debt to asset ratio of Islamic banks seemed better than conventional banks due to low debt financing. Also, with regard to expansion, the growth rate of Islamic banks in Pakistan is comparatively higher than conventional banks.
    [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]
  • 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 [email protected] 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]
  • List of Custodian Banks Local Banks 1
    List of Custodian Banks Local Banks 1. Bank Al Habib Limited Imran Khan Branch Manager - Karachi Main (+92)21-32412986, Ext:241 [email protected] Mackinnons Building, I.I. Chundrigar Road, Karachi Shahan Sheikh Manager Operations - Karachi Main (+92)21-32412986, Ext:246 [email protected] Mackinnons Building, I.I. Chundrigar Road, Karachi. 2. Habib Metropolitan Bank Limited Mohammad Hashim Vice President (+92)21-32644185 UAN: 111 14 14 14, Ext: 185 [email protected] HBZ Plaza Branch, I.I. Chundrigar Road, Karachi Website: www.habibmetro.com 3. Meezan Bank Limited Mirza Ayub Baig Vice President (+92)21-38103554 [email protected] C-25, Estate Avenue, SITE, Karachi, Pakistan Website: www.meezanbank.com 4. Standard Chartered Bank (Pakistan) Limited Waqqas Iftikhar I&I Sales (+92)21-32450650 [email protected] 02nd Floor Transaction Banking Standard Chartered Bank Head Office I.I Chundrigar Road Karachi, Pakistan 5. JS Bank Limited Mohammad Yaqoob Sheikhji Funds Transfer Unit (+92)21-32621989 (+92)301-8231160 [email protected] 1st Floor, Shaheen Commercial Complex Dr. Ziauddin Ahmed Road, Karachi Website: www.jsbl.com/products-services/account-products/scra/ 6. SILKBANK Limited Murtaza Jaffar (+92)300-8290072 [email protected] I.I. Chundrigar Road, Karachi Website: www.silkbank.com.pk 7. United Bank Limited Faizan Ali AVP/RM - Financial Institutions, International Division (+92)21-990332131 [email protected] 8th Floor, State Life Building No.1, I.I. Chundrigar Road, Karachi Rizwan Ahmed VP/ Senior Dealer - Treasury Sales (+92)21-32400425-9 [email protected] 8th Floor, State Life Building No.1, I.I.
    [Show full text]
  • Consolidated Financial Statement of UBL & Its Subsidiaries
    A.F. FERGUSON & CO FORD RHODES SIDAT HYDER & CO CHARTERED ACCOUNTANTS CHARTERED ACCOUNTANTS State Life Building No.1-C, Progressive Plaza, I.I. Chundrigar Road, Beaumont Road, P.O.Box 4716, P.O.Box 15541, Karachi-74000. Karachi-75530. Auditors’ Report to the Members We have audited the annexed consolidated financial statements comprising consolidated Balance Sheet of United Bank Limited and its subsidiary companies (the Group) as at December 31, 2003 and the related consolidated Profit and Loss Account, consolidated Cash Flow Statement and consolidated Statement of Changes in Equity together with the notes and annexures forming part thereof, for the year then ended. We have also expressed a separate opinion on the financial statements of United Bank Limited while the financial statements of subsidiary companies United National Bank Limited, United Bank AG (Zurich), United Executors and Trustees Company Limited, United Asset Management Company Limited and United Bank Financial Services (Private) Limited were audited by other firms of auditors or by one of the joint auditors of the Bank whose reports have been furnished to us and our opinion in so far as it relates to the amounts included for such companies, is based solely on the reports of such other auditors. These financial statements are the responsibility of the Holding Company’s management. Our responsibility is to express an opinion on these financial statements based on our audit. Our audit was conducted in accordance with the International Standards on Auditing and accordingly included such tests of accounting records and such other auditing procedures, as we considered necessary in the circumstances.
    [Show full text]
  • 3Rd Quarterly Report 2018
    In the name Of Allah, most Gracious, most Merciful. This is by the Grace Of Allah. Contents Company Information 2 Directors’ Report 3 Condensed Interim Statement of Financial Information 4 Condensed Interim Profit and Loss Account (Un-audited) 5 Condensed Interim Statement of Comprehensive Income (Un-audited) 6 Condensed Interim Cash Flow Statement (Un-audited) 7 Condensed Interim Statement of Changes in Equity (Un-audited) 8 Notes to the Condensed Interim Financial Information (Un-audited) 9 International Steels Limited Company Information As at 31 March 2018 Chairman (Independent) Registered Office Mr. Kemal Shoaib 101, Beaumont Plaza, 10 Beaumont Road, Karachi – 75530 Independent Directors Telephone Nos.: +9221-35680045-54, UAN: 021-111-019-019 Mr. Tariq Iqbal Khan Fax: +9221-35680373, Mr. Kamran Y. Mirza e-mail: [email protected] Syed Salim Raza Lahore Office Non-Executive Directors Chinoy House, 6 Bank Square, Lahore - 54000 Mr. Towfiq H. Chinoy Telephone Nos:+9242-37229752-55, UAN:+9242-111-019-019 Mr. Kamal A. Chinoy Fax: +9242-37249755 Syed Hyder Ali e-mail: [email protected] Mr. Riyaz T. Chinoy Mr. Kazuteru Mihara Islamabad Office Office # 2, First Floor, Ahmed Centre, Executive Directors I-8 Markaz, Islamabad. Mr. Yousuf H. Mirza (Chief Executive Officer) Telephone Nos: +9251-2524650, +9251-4864601-2 Mr. Samir M. Chinoy Multan Office Chief Financial Officer Office No. 708-A, “The United Mall”, Mr. Mujtaba Hussain Plot No. 74, Abdali Road, Multan Company Secretary Factory Ms. Uzma Amjad Ali 399 - 404, Rehri Road, Landhi, Karachi. Telephone Nos: +9221-35013104-5 Chief Internal Auditor Fax: +9221-35013108 Mrs.
    [Show full text]
  • IBFT Guideline
    MCB Bank Limited IBFT- Guidelines 1. Al Baraka Bank (Pakistan) Limited Please enter Bank Al-Baraka total digits of account Number: Total Digits of Account Number: 13 Digits Format Example: AAAAAAAAAAAAA Note: A = Account Number 2. Allied Bank Limited 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 Note: B = Branch Code, A = Account Number 3. 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 Note: B = Branch Code, A = Account Number 4. Askari Bank Limited Please enter Askari Bank Account Number by following the layout below: For Branch Banking: Total Digits of Bank Account Number: 14 Digits Format Example: BBBBAAAAAAAAAA Note: B = Branch Code, A = Account Number For Branchless Banking: Total Digits of Bank Account Number: 11 Digits Format Example: 03XXXXXXXXX 5. Bank Al-Habib Limited Please enter Bank Al-Habib Account Number by following the layout below: Total Digits of Account Number: 17 Digits Format Example: BBBBTTTTBBBBBBRRC Note: B = Branch Code, A = Account Number, T = Account Type, BBBB= Base Number, RR = Digit Running Number, C = Check Digit 111 000 622 mcb.com.pk /MCBBankPk Over 1350 Branches & ATMs 6. Bank Al-Falah Limited Please enter Bank Al-Falah Account Number by following the layout below: For Conventional Banking: Total Digits of Account Number: 14 Digits Format Example: BBBBAAAAAAAAAA Note: B = Branch Code, A = Account Number For Islamic Banking: Total Digits of Account Number: 18 Digits Format Example: BBBBAAAAAAAAAAAAAA Note: B = Branch Code, A = Account Number For Branchless Banking: Total Digits of Account Number: 11 Digits Format Example: 03XXXXXXXXX 7.
    [Show full text]
  • List of Acronyms
    List of Acronyms A ABL Allied Bank Limited ADB Asian Development Bank AGOA African Growth and Opportunity Act AID Acquired Immune Deficiency Syndrome ALIS Access Lines in Service AMPS Advanced Mobile Phone Service ATM Automated Teller Machine B BMA Bahrain Monetary Agency BMR Balancing Modernization & Replacement BOC Bank of China BOP Balance of Payment BSCs Bahbood Savings Certificates C C&F Cost and Freight CAB Current Account Balance CAN Calcium and Nitrogen CBR Central Board of Revenue CBR Crude Birth Rate CBTPA Caribbean Basin Trade Partnership Act CCFF Contingency and Compensatory Fund Facility CDMA Code Division Multiple Access CDR Crude Death Rate CDR Currency Deposit Ratio CED Central Excise Duty CIB Credit Information Bureau CKD Completely Knocked Down CNG Compressed Natural Gas CPI Consumer Price Index CPP Calling Party Pays CPR Contraceptive Prevalence Rate CY Current Year D DAP Di-Ammonium Phosphate DBC Dollar Bearer Certificate DMB Deposit Money Banks DS Debt Servicing DSCs Defense Saving Certificates DTL Demand and Time Liabilities E EDL External Debt and Liability EE Export Earnings EEDL Expensive External Debt and Liabilities EFS Export Finance Scheme EML Expensive Multilateral Loans EPB Export Promotion Bureau EU European Union F FAB Frequency Allocation Board FABS Financial Accounting and Budgeting System FBS Federal Bureau of Statistics FBs Foreign Banks FCAs Foreign Currency Accounts FCBCs Foreign Currency Bearer Certificates FCDs Foreign Currency Deposits FDI Foreign Direct Investment FE-13 Foreign Exchange Circular No. 13 dated 2nd June 1998 FE-25 Foreign Exchange Circular No. 25 dated 20th June 1998 FE-31 Foreign Exchange Circular No. 31 of 1998 FE-45 Foreign Exchange Circular No.
    [Show full text]
  • The Relative Efficiency of Commercial Banks in Pakistan with Respect to Size and Ownership Structure During and After Global Financial Crisis
    Journal of Accounting and Finance in Emerging Economies Vol 4, No 2, December 2018 Volume and Issues Obtainable at Center for Sustainability Research and Consultancy Journal of Accounting and Finance in Emerging Economies ISSN: 2519-0318ISSN (E) 2518-8488 Volume 4: Issue 2 December 2018 Journal homepage: publishing.globalcsrc.org/jafee The Relative Efficiency of Commercial Banks in Pakistan with Respect to Size and Ownership Structure During and After Global Financial Crisis 1Allah Bakhsh khan, 2Syed Zulfiqar Ali Shah, 3Muhammad Abbas, 4Qaiser Maqbool khan 1 Asst Professor (Commerce) Bahauddin Zakariya University, Multan, and PhD Scholar at International Islamic University, Islamabad. Pakistan. Email: [email protected] 2 Associate Professor, Faculty of Management Sciences, International Islamic University, Islamabad. Pakistan. 3 Assistant Professor, Air University, Multan Campus. Email: [email protected] 4 PhD Scholar at Department of Commerce, Bahauddin Zakariya University, Multan. Pakistan. Email:[email protected] ARTICLE DETAILS ABSTRACT History Purpose: This study has been carried out to find out the relative efficiency Revised format: Nov2018 of the commercial banks in Pakistan over a five- year period from 2006 to Available Online: Dec 2018 year 2010 using Frontier Approach of efficiency. The commercial banks included in this research paper are public sector banks, privatized banks, Keywords domestic private banks, and foreign banks. In addition to overall efficiency Efficiency, Banks, comparison of the commercial banks, this study has also tested the effect of Financial Intermediation, size and ownership structure of the commercial banks in Pakistan on their Moral Hazard, Data efficiency. Data/Design/Methodology/Approach: Out of 44 banks, 21 commercial JEL Classification: banks have been chosen, which, in terms of deposits, account for about 94 D61,E58,E44,Y10 percent of total deposits of the banking sector (Rs.5,124,308 million) as on December, 2010.
    [Show full text]
  • Internet Banking - Bill Payment Guide
    MCB Bank Limited Internet Banking - Bill Payment Guide Categories S.No. Biller Name On Full Biller Company Name Sample Consumer No. Consumer Reference Input Type Character MCB Mobile Type Length 1 SNGPL Sui Northern Gas Pipelines Limited 17647668748 Consumer # Numeric 11 2 PTCL Pakistan Telecommunication Company Limited 2105788644 Account ID Numeric 10 to 14 3 IESCO Islamabad Electric Supply Company 15141111610800 Account # Numeric 14 4 K-ELECTRIC Karachi Electric 0400000664365 Account # Numeric 10 to 15 5 LESCO Lahore Electricity Supply Company 10111440863100u Reference # Alphanumeric 15 6 SSGC Sui Southern Gas Company Limited 2827970000 Customer # Numeric 10 7 FESCO Faisalabad Electric Supply Company 08134130792600 Reference # Numeric 14 8 MEPCO Multan Electric Supply Company 16151121444300 Reference # Numeric 14 9 GEPCO Gujranwala Electric Power Company 01121330008100 Reference # Numeric 14 10 PESCO Peshawar Electric Supply Company 04261210027191 Reference # Numeric 14 Utility Bill 11 LWASA Lahore Water And Sewerage Authority 40097772 Account # Numeric Variable Length 12 HESCO Hyderabad Electric Supply Company 01373110013800 Account # Numeric 14 13 QESCO Quetta Electric Supply Company 07482430592200 Reference # Numeric 14 14 SEPCO Sukkur Electric Supply Company 02321548795135 Reference # Numeric 14 15 FWASA Faisalabad Water And Sanitation Agency w11200287 Account # Alpha numeric 10 16 KWSB Karachi Water And Sewerage Board N0073050000 Consumer Number Alphanumeric 11 17 RWASA Rawalpindi Water And Sewerage Authority A0100762 Account #
    [Show full text]