Commecs Institute of Business & Emerging Sciences (CIBES) organized a seminar on Islamic Banking in corroboration with Meezan Bank, an awarded Islamic Bank in Pakistan. Commecs is the only accountancy institute in Karachi which organizes meet ups with banks and financial institutions to help its students network and learn from the best. Mr Fayyaz ur Rehman Khan, Vice President of Meezan Bank, delivered speech on Islamic banking and thanked State Bank of Pakistan for its effor
Archive for the Banking Category
For most people, there are few sights as enticing as a wad of cash. But for VISA country manager for Pakistan and Afghanistan, Amer Pasha; “cash is the enemy”. And given the appalling level of financial inclusion in the country, cash is a formidable opponent for the world renowned electronic payments system. VISA has played a key catalyst role in popularizing the use of plastic for payments and transfers. The company launched its first credit card in Pakistan with Citibank back in 1996.
By Ali Ahmad Meezan Bank has been awarded ‘Best Islamic Bank in Pakistan’ for 2011 by Islamic Finance News of REDmoney Group, Malaysia. The Islamic Finance News (IFN) Awards honor the best in the Islamic financial industry and is one of the most prestigious and recognized awards in the global Islamic financial markets. This is Meezan Bank’s 7th consecutive award in this category – having won the award of Best Islamic Bank in Pakistan every year since 2005.
By Maliha Sheikh (Lahore) A guy from a remote city of Pakistan, Gujranwala, is on his way to produce documentaries on mega financial scandals in Pakistan. This is not a secret anymore as how few renowned businessmen in collusion with corrupt government officials are ripping Pakistani nation from its resources. Part of this series, Syed Haroon Haider Gilani, CEO of Vision Media, came up with first Documentary which revolves around scandal and controversies of Habi
(ET) - Where does one go about looking for high-quality insurance salesmen? For Pak-Qatar Family Takaful, an Islamic life insurance company, the answer appears to be: madrassahs. While Pak-Qatar – an insurance firm owned by a consortium of Qatari financial institutions and the Qatari royal family – does recruit from all types of secular educational institutions, it also makes it a point to ensure that religious seminary students are not left out from its recruitment drives. [caption
News Desk The banking sector widely known as the money making machine in the market gave another strong performance as MCB Bank profits grew 24%, UBL grew 34% while Bank Alfalah bottom-line doubled. [caption id="attachment_3496" align="aligncenter" width="300" caption="MCB Bank profits firmed to Rs15.53 billion in the first nine months of 2011 as interest income rose by almost Rs9 billion."][/caption] MCB Bank profits firmed to Rs15.53 billion i
By Maliha Sheikh (Lahore) Allied Bank witnessed strong growth of 32% to Rs7.79 billion, in line with market expectations, during the first nine months of 2011, according to consolidates results sent to the Karachi Stock Exchange on Thursday. It would be interesting to note that banking sector, despite economic woes, has been reporting stronger results in this quarter. Allied Bank, one of the big five bank of the country, managed to do better than the bankin
News Desk Habib Bank Limited (HBL) kicked off the result season in style on Monday by posting better than expected net profit for the first nine months of 2011. Net profit of the second largest bank by assets jumped 28% to Rs14.4 billion during January to September 2011 compared with Rs11.3 billion in the same period last year, according to the bank’s unconsolidated results sent to the Karachi Stock Exchange. The bank’s net profit jumped a
By ProPakistani With State Bank of Pakistan demoing a constructive regulatory approach for branchless banking, a number of players are now evolving to offer branchless banking in Pakistan as a viable business model, said a report published by CGAP. CGAP says that Pakistan has become one of the fastest developing markets for branchless banking in the world. According to report, SBP has issued four branchless banking licenses and is considering several others. M
By Ali Ahmad According to our friends at ProPakistani, Orascom Telecom has reportedly bought a license for microfinance bank to start offering branchless mobile banking services in Pakistan under the brand name of Mobilink Waseela. According to the famous tech blog, Mobilink recently completed the buyout of a microfinance license with a price tag of Rs. 1 billion and company has already established a team responsible for financial services. They are now aggressively p