Professional Documents
Culture Documents
Type: Public Limited (BIPL) Industry: Islamic banking Headquarters : Principal Office, Karachi Pakistan Key people: Hasan A Bilgrami (CEO) Products: Retail Banking, Consumer Banking, Investment Banking, Trade Financing etc.
Introduction to banking
Banks are very useful for utilization of countrys resources and for growth of economy. Banks help in capital information by deposit surplus from public and advance these surplus in form of loans to businessman and industrialists, agriculturists under different scheme. There are different views about origin of word banking. Some says it deceived from an Italian word banque means bench. According to other view it derived from German work bane means a joint stock firm. According to Growther, there are three ancestor of banker i.e. The Mechanls the gold smith, money lenders. In short bank is a financial institution at lower rate of interest and give at higher rate of interest to those who need them.
Islamic banking
Islamic banking (or participant banking) (Arabic: ) is banking or banking activity that is consistent with the principles of Islamic law (Sharia) and its practical application through the development of Islamic economics. Sharia prohibits the fixed or floating payment or acceptance of specific interest or fees (known as Riba or usury) for loans of money. Investing in businesses that provide goods or services considered contrary to Islamic principles is also Haraam (forbidden). While these principles may have been applied to historical Islamic economies, it is only in the late 20th century that a number of Islamic banks were formed to apply these principles to private or semi-private commercial institutions within the Muslim community
HISTORY OF BANKISLAMI
The epochal idea of BankIslami was conceptualized by Jahangir Siddiqui & Company Limited and DCD Group in late 2003. Mr. Hasan A. Bilgrami was appointed as Adviser to the sponsors on March 16, 2004 to formalize the idea. He presented the concept paper of BankIslami to sponsors on March 24, 2004. A detailed business plan was then prepared and a formal application was submitted to the State Bank of Pakistan on May 26, 2004. On September 26, 2005, Dubai Bank joined the Sponsors and became one of the founding shareholders of BankIslami by investing 18.75% in the total Capital.
BankIslami Pakistan Limited was the first Bank to receive the Islamic Banking license under the Islamic Banking policy of 2003 on March 31, 2005. The Bank envisioned to focus primarily on Wealth Management as the core area of business in addition to Shariah compliant Retail Banking products, Proprietary and Third party products, and Integrated financial planning services.
MILESTONE OF BANK ISLAMI 2004 24 March 2004 26 May 2004 19 August 2004 Concept paper of Islamic Bank presented to Sponsors; JS Group and DCD Group Application for the license of an Islamic Bank was submitted to SBP BankIslami received the No Objection Certificate from SBP
18 October 2004 BankIslami became a legal entity after SECP granted it an incorporation certificate 2005 31 March 2005 SBP Governor, Dr. Ishrat Hussain issued Islamic Banking license to BankIslami
26 September 2005 Dubai Bank became founding shareholder of BankIslami by investing 18.75% in the total Capital
2006 26 February 2006 BankIslami share debuted on the Karachi Stock Exchange 6 March 2006 17 March 2006 7 April 2006 7 April 2006 7 April 2006 28 April 2006 BankIslami's three day Initial Public Offering (IPO) was initiated and got oversubscribed by 9 times State Bank of Pakistan declared BankIslami Pakistan Limited as a Scheduled Bank BankIslami started commercial operations from its 1st branch at SITE, Karachi BankIslami became the First bank in Pakistan & Asia and the Second Bank in the World to install BIOMETRIC ATM BankIslami became the First bank in Pakistan to launch Internet banking from start of operations BankIslami's second and third branch opened simultaneously in Clifton and Korangi Industrial Area in Karachi The Fourth branch of BankIslami located on 26th Street of Phase V, D.H.A opened its doors for customers The official inauguration of BankIslami was conducted at the Governor House, Sindh BankIslami's Shaheed -e- Millat branch located at Adam Arcade, BMCHS, Shaheed-e-Millat Road, Karachi starts operations State Bank's Director of Islamic Banking, Mr. Pervez Said inaugurated the induction ceremony of the first Trainee Officers batch of BankIslami Phone Banking services were launched by BankIslami Sixth branch of BankIslami opened on Rashid Minhas Road, Karachi
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31 August 2006
BankIslami's North Nazimabad branch started operations. It was the 7th branch opened by the Bank BankIslami formally inaugurated its eighth branch located in Gulshan-e-Maymar BankIslami went nationwide with the opening of its 9th branch on Jinnah Road, Quetta. This was BankIslami's first branch outside Karachi BankIslami opened its 10th Branch in Baqai Medical University, Karachi
29 December 2006
2007 3 March 2007 30 April 2007 BankIslami signed ORIX network for its '1 Card' BankIslami became the first Bank in Pakistan to sign contract with Haydrian for 'XM3", a state of the art Anti Money Laundering (AML) software BankIslami launched home financing product "MUSKUN" BankIslami's Islamabad branch opened in Blue Area, Islamabad Wah Cantt Branch of BankIslami was opened Karachi Stock Exchange Branch of BankIslami was opened BankIslami signed agreement for a state of art Shariah compliant Banking system software "iMAL" with Path solutions Mirpur (Azad Kashmir) Branch of BankIslami was opened BankIslami deployed its Deposit ATM machine. Based on GBNA technology, the ATM is capable of accepting 100 notes at a time
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3 May 2007 11 May 2007 25 May 2007 15 June 2007 21 June 2007
18 August 2007
BankIslami bought JS Finance Limited, a Modaraba management company and renamed it as BankIslami Modaraba Investments Limited BankIslami opened its branch in Lahore. This was the 15th Branch of BankIslami and its first in Lahore 16th branch of BankIslami opened in Jodia Bazar, Karachi BankIslami completed its First Investment Banking transaction by issuing privately placed SUKUK of Rs. 1.2 Billion for PEL 17th branch of BankIslami opened in Pishin 18th branch of BankIslami opened in Sukkur 19th branch of BankIslami opened in DHA, Lahore 21st branch of BankIslami opened in Hyderabad 20th branch of BankIslami opened in Chaman BankIslami led managed a Consortium to successfully achieved the financial close of a landmark Investment Banking deal of SSGC Sukuk of Rs. 5 Billion 22nd branch of BankIslami opened in Muslim Bagh 23rd branch of BankIslami opened in Qila Saifullah 24th branch of BankIslami opened at Cloth Market, Karachi 25th branch of BankIslami opened in Multan 26th branch of BankIslami opened at Bank Square 27th branch of BankIslami opened in Faisalabad
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25 September 2007
16 November 2007 26 November 2007 28 November 2007 2 December 2007 3 December 2007 10 December 2007
18 December 2007 18 December 2007 19 December 2007 24 December 2007 26 December 2007 Road, Larkana 27 December 2007
31 December 2007
Nine branches of BankIslami opened in different cities of Pakistan. The branch network grew to 36 branches in 23 Cities of Pakistan
2008 13 February 2008 BankIslami's branch network expansion plan of opening 30 branches and 32 sub branches in 2008 approved by State Bank of Pakistan BankIslami installed the first ever ATM in an Islamic School at Darul Uloom, Karachi 37th branch of BankIslami opened at DHA, Phase IV, Karachi BankIslami's Response to Fatwa against Islamic Banking. BankIslami posted an operating profit of Rs. 19.210mn in 2nd quarter of 2008 BankIslami announces right issue of 23.36% subject to SECP approval. 38th branch of BankIslami opens on UP More Road, Karachi BankIslami opens branches at Kotli, Islamgarh and Sharea-e-Faisal Road, Karachi. BankIslami opens its sub branch in Shadman Town No.1, North Nazimabad Karachi. Sub Branch of BankIslami opens in Khyber Bazar, Peshawar BankIslami opened its 50th Branch today. It has been the fastest growth by any Bank in Pakistan.
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14 February 2008 22 August 2008 29 August 2008 27 August 2008 27 August 2008 12 September 2008 26 September 2008 17 October 2008 18 October 2008 31 October 2008
31 October 2008
BankIslami opens seven new branches nationwide. November 1 2008 Bankislami crosses 50 branches mark by opening its branch at Nazimabad Block A Karachi.
BankIslami opens ten Online branches this month. BankIslami signs strategic cooperation with Pak Qatar Takaful Company for Takaful cover to BankIslami Auto Ijarah customers. BankIslami creates history by becoming the first bank to open 100 plus branches in less than three years and with this complete its yearly expansion plan of reaching to 102 Online branches in 49 cities nationwide.
December 31 2008
2009 4th Nov 2009 31st July 2009 2nd July 2009 March 31 2009 BankIslami crosses 100,000 customer base BankIslami sign NDA with Citibank for Auto Financing Portfolio PACRA upgrades entity rating of BankIslami Pakistan LImited. BankIslami witnesses phenomenal increase of 32% in Deposits and 39% increase in Customer base over the same period last year.
2010 2010 27th December 2010: 31st Dec 2010 Successful Deployment in all branches of iMal, World's #1 Islamic Banking software BankIslami signs deal for acquisition of CitiBank House Financing Portfolio BIPL reports profit of Rs. 46.55 mn for the year ending December 31, 2010.
MISSION, VISSION, CORE VALUES OF BANK ISLAMI Vision: The Vision of BankIslami is to be recognized as the leading Authentic Islamic Bank. Mission: The Mission of BankIslami is to create value for our stakeholders by offering Authentic, Shariah Compliant and technologically advanced product and services. We differentiate ourselves through:
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Fast, efficient and seamless delivery of solution. As a growing institution, the foundation for our performance lies on our human capital and BankIslami remains committed to becoming an employer of choice, attracting, nurturing and developing talent in a transparent and performance driven culture.
Core Values: BankIslami is strongly committed towards its core values of: Product authenticity Customer focus Meritocracy Integrity Team work Humility Innovation
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Justice (R) Muhammad Taqi Usmani: Justice (R) Muhammad Taqi Usmani is the Chairman of Shariah Supervisory Board of the Bank. He is a renowned Islamic Scholar of Pakistan and has held a number of positions in board of prestigious Islamic institutions. Presently, he is the Permanent member of International Islamic Fiqh Academy, Jeddah, Vice President of Darul Ulloom Karachi, Chairman International Shariah Standard Council of Accounting and Auditing Organization of Islamic Financial Institutions (AAOFI), Bahrain; Chairman of Shariah Board Bahrain Monetary Agency (BMA), Bahrain; Chairman of Shariah Board, Abu Dhabi Islamic Bank, UAE; Chairman of Shariah Board, Meezan Bank, Pakistan; Chairman of Shariah Board, Islamic House of Britain plc, UK; Chairman of Shariah Board, HSBC Amanah Finance, Dubai. Muhammad Taqi Usmani obtained his 'Takhassus' (Specialization in Islamic Fiqh and Fatwa) degree, equivalent to PhD, from Darul Ulloom Karachi in 1961. He also holds a Master's degree from Punjab University in Arabic Literature and LLB degree from Karachi University Muhammad Taqi Usmani has served as a Judge of Shariat Appellate Bench, Supreme Court of Pakistan from 1982 to 2002 and Judge of Federal Shariat Court of Pakistan from 1980 to 1982. He has written a number of books and articles on Islamic Banking and Finance in Arabic, Urdu and English.
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Professor Dr. Fazlur Rahman: Professor Dr. Fazlur Rahman is the member of Shariah Supervisory Board of the Bank. He is a renowned scholar and has over 30 years of teaching experience in various countries of the world including Malaysia and Saudi Arabia. Presently, he is the Director of Islamic Guidance Trust and Shariah Adviser of Atlas Asset Management's Atlas Islamic Fund. He is also a faculty member of Sir Syed University in Karachi. He has contributed several articles on interest, Muslim personal laws, and human rights etc. Moreover, one of his writings, "a study of commercial interest from the point of view of Fiqh and History", is of great repute in literary circles and has been extensively quoted by Federal Shariah Court in its Judgment in 1991 and again in 1999.
Mufti Irshad Ahmad Aijaz: Mufti Irshad Ahmad Aijaz is appointed as the full time Shariah Adviser to the Bank. He comes from a leading family of scholars. His father, Maulana Muhammad Ashfaque Ahmad, is better known for translating in English the famous Tafseer e Usmani. He graduated from Jamia Uloom Islamiyyah, Binnori Town, Karachi and he has done his Shadat-ul-Aalamia (Masters in Arabic and Islamic Studies) from there as well. Afterwards, he completed his Takhassus fi al-Iftaa (Specialization in Islamic Jurisprudence and Fatwa) from Jamia Darul Uloom, Karachi. Mufti Irshad Ahmad is well versed in Islamic economics. Mufti Irshad has passed an Islamic economics course Contemporary Business and Banking and its critical evaluation in the light of Shariah from the Centre for Islamic Economics, Jamia Darul Uloom, Karachi. Mufti Irshad has also recently completed his MBA program from (AMI) Iqra University, Karachi.
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He is also presently associated with Iqra University as Lecturer in Islamic Studies and is enrolled in the MPhil program with specialization in Islamic Finance at (AMI) Iqra University, Karachi.
Board of Directors
The Board of Directors of BankIslami comprises of eminent representatives.
Chief Justice (R) Mahboob Ahmed: Chief Justice (R) Mahboob Ahmed is the Chairman of the Board of Directors of the Bank. Mr. Mahboob Ahmed graduated from University of Punjab and completed his LLB in 1957. He practiced at the Bar of Lahore High Court and Supreme Court of Pakistan for 19 years particularly on the constitution and commercial sides. Mr. Mahboob Ahmed was appointed Judge of Lahore High Court in 1978 and became Chief Justice in 1990-91. He also has been the Chief Justice of Federal Shariat Court of Pakistan in 1997. He has also served as the acting Governor of Punjab. During his tenure as judge of Lahore High Court he was the first original side judge on the Banking Jurisdiction and also the Company Judge and Chairman-Election Authority. He also represented Pakistan in a number of conferences in the Middle East, Far East and Europe. Mr. Mahboob Ahmed has been on the Board of Directors of Jahangir Siddiqui & Co. Ltd. since October 31, 2002. He is also the Director of Azgard Nine Limited.
Mr. Ahmed Randeree: Mr. Ahmed Goolam Mahomed Randeree is the Chairman of the DCD Group and its associated holdings in International Trade Finance and Property & Investment businesses. Having moved from South Africa to the UK in the mid 1970's, Mr. Randeree was instrumental in growing the groups Textile and Trade Finance business, Revelate Limited. The business operated throughout the UK, South Africa and the Far East. Mr. Randeree presided over the Group when its turnover and operations grew from US$ 2.5 million in 1977 to over US$ 150 million by 1998. Over the past 6 years, Mr. Randeree moved to the Middle East and concentrated on various new businesses on the Indian subcontinent, Hong Kong and the UAE. Dominion Asset Management, Hong Kong and Al Ajwad International, Dubai, U.A.E represent the on-going diversification of Mr. Randeree's holdings worldwide.
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Mr. Ali Raza Siddiqui: Mr. Ali Raza Siddiqui joined JS-Investments as an Executive Director in 2005. Previously, he was Assistant Vice President at AIM Investments, a wholly-owned subsidiary of AMVESCAP Plc in Houston, U.S.A. At AIM, Mr. Siddiqui was part of a Five-person team responsible for the management of US$ 60 billion in mutual fund assets. Mr. Siddiqui holds a Bachelors Degree from Cornell University, USA, with double majors in Economics and Government.
Mr. Ali Hussain: He is the founder and Managing Director of Saj Capital Management Limited, BVI, a family office based in Singapore having strategic investments in financial sector in Pakistan, Europe & USA. Mr. Hussain has previously worked at Conics Technology Private Limited, Singapore, Conrac Technology Inc, USA, Hewlett Packard, USA and Fairchild Semiconductors, USA. He has overall 38 years of profession experience and specialize in incubating, acquiring and managing technology companies and converting them in growth champions in Singapore, USA, Germany, UK and Canada. Mr. Hussain has done his M.S in Electrical Engineering from Stanford University, USA and B.S in Electronics Engineering and also in Electrical Engineering from California State University, USA.
Mr. Hasan A. Bilgrami: Mr. Hasan A. Bilgrami is the Founding Chief Executive Officer and Director of BankIslami. His association with BankIslami started as a consultant to the sponsoring shareholders right at the inception of the project where he was responsible for developing the business plan, arranging permissions, staffing and capital raising. Previously he worked as the Head of Asset Management with the National Investment Trust (NIT), as Country Manager Consumer Banking & Corporate Business with Gulf Commercial Bank (now PICIC Commercial Bank Limited) as General Manager Corporate Finance with ORIX Investment Bank and as Director and Head of Corporate Finance with Khalid Majid Husain Rahman, then a member firm of Deloitte & Touche. Mr. Bilgrami has overall 19 years of professional experience.
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Mr. Bilgrami has hands on experience in structuring Islamic modes of financing while he worked as a Secretary of the Financial Instruments Committee of the Islamic Finance Commission. His specific task was development of model financial instruments that could be used by the financial services industry in Pakistan. The scope of work not only included both asset and liability side products, but also included areas such as risk management and capital adequacy. Model agreements were also part of the mandate. His work of model agreements has been approved by the Shariah Board of the State Bank of Pakistan and has become the industry standard. He is a Director on the Board of BankIslami's subsidiary, BankIslami Modaraba Investment Limited, Director of KSB Pumps Limited as well as a Chairman of its Audit Committee, Nominee Director of Haleeb Foods Limited. He is also the President of the National Council of the Institute of Cost and Management Accountants, Director of Pakistan Institute of Corporate Governance and a member of the Institute of Capital Markets, Pakistan. He has also been a Director on boards of PICIC, Soneri Bank Limited, Crescent Commercial Bank Limited, Fauji Fertilizer Company Limited and National Refinery Limited. Mr. Bilgrami graduated in Commerce from Karachi University and is a Fellow member of the Institute of Cost & Management Accountants of Pakistan and a Fellow of the Canadian Securities Institute.
Mr. Hicham Hammoud: Mr. Hicham Hammoud is the Chief Operating Officer of Dubai Bank. Mr. Hammoud has over 20 years of banking experience in different capacities such as Operation & Technology, Risk Management, Sales & Distribution. Before joining Dubai Bank, he was with Citibank for over 17 years & his last position was that of Senior Chief Operating Officer, in addition to his role as Regional Risk Manager for Middle East and Africa Region. Hicham has led & supported a range of strategy and implementation projects in the banking sector. He holds a Masters degree in International Business from the University of Wollongong, Australia, and also holds a Certificate of Financial Management & Banking from the American University of Sharjah.
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Mr. Marwan Hassan Ali El Khatib: He is the Managing Director of Islamic Investments at Dubai Group (Member of Dubai Holding). Mr. El Khatib has professional experience of around 18 years in areas such as Mergers & Acquisitions, Investments, Corporate Finance, Audit, Risk Management, Strategic Planning, Business Development & Corporate Banking through different roles & responsibilities within companies including Dubai Group, Al-Futtaim Group, Mashreq Bank, Dubai Chamber of Commerce and Deloitte Touche Tohmatsu. In addition to his responsibilities, he is on Board of several companies and financial institutions such as Bank Islam Malaysia Berhad, Malaysia, Al Fajer Re-Takaful Company, Kuwait, ACR Re-Takaful, in Bahrain, Malaysia & Dubai. Mr. El Khatib holds MBA degree in Banking & Finance from Hull University in UK and a BA degree in Business Administration & Computer Science from American University in Cairo. He is also a graduate of Senior Executive Management Development Program by the Institute of Management Development (IMD) in Switzerland.
Mr. Shabir Ahmed Randeree: Mr. Shabir Ahmed Randeree is a principal and CEO of DCD Group Ltd (Global), a worldwide group with core business interests in Finance and Property & Investments. He has over 25 years of experience of a broad array of real estate investments, including the development, acquisition and management of offices, hotels, retail space and residential developments. He has been the Group's Managing Director for the since 1992 and previous to this he was a founder member and Managing Director of Warrenby Limited, a business involved in International Trade Finance and Real Estate Commercial Investments in the UK, and which was later acquired by the DCD Group. He also has worked in the clothing import and export business with Dominion Clothing Distributors Limited where he was the Sales and Finance Director in the mid 1980's. Mr Randeree holds a number of Directorships, including being a Director of the Al Baraka Bank Limited of South Africa and European Islamic Investment Bank Plc in UK. Mr. Randeree is also on the Executive committee of BMRC (a Charity related to the Ethnic Minorities Foundation UK) and Trustee for the British Edutrust Foundation, chaired by Lord Bhatia Mr. Randeree has done his BA Honors in Accounting and a post graduate MBA.
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SPONSERS OF BANK ISLAMI BankIslami is a joint venture among three financially sound and progressive shareholders, namely, DCD Group, Dubai Bank and Jahangir Siddiqui & Co. Ltd.
Randeree family of the DCD Group: Mr. Ahmed Goolam Mahomed Randeree & Mr. Shabbir Ahmed Randeree are the sponsors of BankIslami in their personal capacity. They are the principal shareholders of the DCD Group.
The history of the modern DCD Group can be traced back to Jersey ( The Channel Islands ) in 1975 with the formation of DCD Holdings Limited. After three decades of trading, today the Group has its Family Investment office based out of the DIFC (Dubai International Finance Centre) with its operations extending to London, New York and Dubai. The DCD Group's core business activities are concentrated in the Real Estate and Banking sectors. The Real Estate division of the DCD Group concentrates on enhancing and delivering long-term gains for the Group and its Partners internationally. The Group has built its track-record primarily in the UK and USA, then spread to the Middle East and a select number of Far East and African destinations. Over the past three decades, the Group's real estate investments have produced a consistent, attractive IRR. The Group takes a proactive hands-on Asset Management role and is responsible as a managing partner for all or a portion of the equity required in any given transaction. As of June 2007, the total value of properties owned and/or managed by the DCD Group, was in excess of US $3.0 Billion. The DCD Group's interests in the Banking sector comprise of various niche holdings internationally, including a stake in Dallah Albaraka Bank Limited in South Africa which was formed in 1989 . More recently, the Group played a pioneering role with QIIB (Qatar International Islamic Bank) in the formation of the Islamic Bank of Britain PLC (IBB) and retains its shareholding in the Bank. DCD also remains a founding shareholder in the European Islamic Investment Bank PLC (EIIB), which raised approximately 200 million pound, pre and post listing on the LSE. In 2007, the Group were founding investors in The Islamic Bank of Asia in Singapore, with DBS Development Bank of Singapore as the principle promoter.
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Dubai Bank PJSC: Dubai Bank PJSC which commenced operations in September 2002, is one of the UAEs most dynamic financial institutions and closely associated with Dubai's plans of establishing itself as the regions financial and trading centre. The Banks focus is to be a leading financial institution that is a flagship for Dubai, the UAE, the GCC and beyond. Dubai Bank is 70% owned by Dubai Banking Group, with the remaining 30% being held by Emaar Properties. Dubai Banking Group was launched in May 2008 under the directive of HH General Sheikh Mohammed bin Rashid Al Maktoum to consolidate the existing Shariah-compliant investments of Dubai Holdings and form a global Islamic investment company. Dubai Banking Group is managed by Dubai Group, the leading diversified financial services company of Dubai Holding. Emaar Properties is the largest real estate developer in the GCC region and have managed large-scale projects in Dubai such as: Dubai Marina, Burj Dubai, Dubai Mall. The Company has a collective presence in over 36 markets spanning the Middle East, North Africa, Pan-Asia, Europe and North America. Dubai Bank offers a full range of products and services through its Corporate & Consumer Banking divisions. These include transaction and deposit accounts,financing, trade finance, and wealth management services as well as a host of other unique Banking services. In the near future, Dubai Bank plans to increase its current Banking network by opening additional branches, and developing new alliances with key financial institutions in the GCC and beyond. Dubai Bank has identified Islamic Banking as a promising area. On January 1,2007, the Bank became a Shariah compliant financial institution. The members of Shariah Supervisory Board of Dubai Bank consists of Justice (R) Muhammad Taqi Usmani, Sheikh Nizam Yaquby, Dr Mohamed Elgari and Dr Mohamed Daud Bakar.
Jahangir Siddiqui & Co. Ltd: Jahangir Siddiqui & Co. Ltd. ("JSCL") is the holding company for one of the largest and most diversified financial services groups in Pakistan, involved in investment Banking, broker-dealer operations, proprietary trading, insurance, Banking and asset management. The Company was established in 1991 and was the first Pakistani financial services company to boast a Wall Street pedigree due to its previous joint venture with Bear Stearns and Co. It is also the only securities company to be a primary dealer for Government securities in Pakistan and is one of the largest bond trading firms in Pakistan. JSCL is a listed company on the Karachi Stock Exchange.
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JSCL subsidiaries include JS Global Capital Ltd, JS Bank., and JS-Investment Ltd. JSCL also has holdings in the sugar, sugar derivatives, specialty textile, specialty steels and insurance sectors through significant minority holding in leading companies in these sectors. These strategic investments and associated companies include, EFU General Insurance, EFU Life Assurance, Allianz EFU Heath Insurance, Azgard Nine and Al Abbas Sugar Mills amongst others.
Shareholding Pattern
Shareholding Founding Sponsors Dubai Bank PJSC Jahangir Siddiqui & Co. Ltd Randeree Family of the DCD Group
Rs. (Million)
5.81 1.31
0.11 0.02
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* The initial public offering of BankIslami took place in March 2006. BankIslami shares were formally listed on the Karachi Stock Exchange on April 17, 2006. On October 31, 2006, the Board of Directors of BankIslami decided to further issue capital of Rs. 1.2 Billion through a right share issue of 60% at par i.e. Rs.10 each to existing shareholders. On August 23, 2007, the Board of Directors of the Bank decided to raise the paid up capital of the Bank to Rs. 4.2 billion through a right issue of 31.25% at par i.e Rs.10 each to existing shareholders. On March 31, 2008, BankIslami issued an additional Rs. 80 Million shares to general public. On August 27, 2008, the Board of Directors of the Bank decided to raise the paid up capital of the Bank to Rs. 5.2 billion through a right issue of 23.366% at par i.e Rs.10 each to existing shareholders.
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Home Purchase:
Just point your finger at the Bungalow or Apartment of your choice and we'll help you buy it. Financing Tenure: 2 to 20 years Financing Range: Rs. 200K 10M Bank Investment Ratio: Maximum up to 80% for salaried / selected SEPs *Maximum up to 70% for Businesspersons/NRPs(* Doctors, Engineers, Architectures, Chartered Accountants) Prepayment Option available:
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Benefits:
y y y y y y y y Quick Processing Financing up to 50% of the value of the property Financing limit Rs. 10 Million Tenor up to 20 years No pre-payment additional price charged after one year Flexible & Affordable installments with Sahulat payment schedule Clubbing of family income No Negative Area
Rs. 4,500/- (Rs. 1,000 Pre Processing is part of the Rs. 4,500/- Amount) Tracker Installation : All Vehicles costing above Rs. 600,000 are required to be installed with tracker.
Islami Auto Ijarah-Used/Imported Vehicle BankIslami's Auto Ijarah facility is based on the concept of Ijarah. It is a Shariah compliant alternative to Conventional leasing where Bank acts as a Lessor and you act as a Lessee. The Bank requires you to pay a monthly rent for the use of the Vehicle. In this while, the ownership of the vehicle remains with the Bank, only the rights of use is transferred to you. At the end of the Ijarah Agreement, you will be given a choice whether to return the vehicle to the Bank and receive back the security deposit paid by you at the beginning* or to purchase it at a price as low as the security deposit.
Ijarah Facility :
forUsed/Imported Vehicles
Tenure of Ijarah:
Min - 3 Years, Max - 5 years
Security Deposit:
Min 30% to Max 50% for vehicles till 5 years at the time of Ijarah
Processing Charges
Rs. 4,500/- (Rs. 1,000 Pre Processing is part of the Rs. 4,500/- Amount)
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Tracker Installation
All Vehicles costing above Rs. 600,000 are required to be installed with tracker. Takaful:
Takaful coverage on all vehicles is compulsory and is provided by Takaful Pakistan.
Retail Banking
Islami Current Account: The Islami Current Account offers you the following Key salient features:
A minimum balance of Rs. 1,000/- only to open the account Joint Account facility up to four joint account holders Access to the entire online branch network 102 Branches in 49 Cities Free unlimited online intercity transactions Free 1 Card, BankIslami's ATM & Debit card Access to all ATMs linked to MNET and 1 Link throughout Pakistan. InterBank Funds transfer facility through ATM Facility of making instant payments at Orix terminals for grocery, fuel ,dining and other purchases Free Internet Banking service Round the clock phone Banking through 111-ISLAMI (475-264) or 111BIP (247)-111 Personalized service from Customer Relationship Officers
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Free Account statement facility Hold mail and Stop payment facility Safe deposit lockers (subject to availability)
Islami Foreign Currency Account: BankIslami Islami Foreign Currency account is ideal for businesses and individuals who would like to diversify their investment in different currencies to ensure security against currency fluctuations or want to keep foreign currency account to meet their business needs. Also, you can have easy access to foreign currency with no hassles of foreign exchange conversion when you have to travel abroad or remit funds abroad to meet education, leisure or business needs.
Key Features:
Safe Deposit Lockers Hold Mail & Stop payment facility Available in USD, GBP & EURO A minimum balance of USD 100/-or equivalent in GBP or EURO to open the account Joint Account facility up to four joint account holders Free Account statement facility Free Internet Banking service Round the clock phone Banking through 111-ISLAMI (475-264) or 111-BIP (247)111 Personalized service from Customer Relationship Officers
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your funds in a Shariah compliant manner. The profit and loss from the investment is then shared between you and the Bank.
The Islami Dollar Bachat Account offers you the following key salient features: Free Internet Banking service Safe Deposit Lockers facility available 100% interest free Monthly profit/loss payment on daily product basis A minimum balance of USD. 100/- in cash or through USD clearing cheque or valid instructions of remittances from abroad No Zakat or Withholding tax applicable Joint Account facility up to four joint account holders Access to the entire online branch network 102 Branches in 49 Cities No restrictions on intercity transactions Round the clock phone Banking through 111-ISLAMI (475-264) or 111-BIP (247)111 Personalized service from Customer Relationship Officers Free Account statement facility Hold mail and stop payment facility
Minimum amount of investment is Rs. 10,000/- only Profit/loss payment on monthly basis until the maturity date Payment of amount of investment on the maturity date Differential and specific pool allocation possible for large deposit holders Profit announcement at the begining of every month Facility of premature encashment available. In such a case, the corresponding period rate would apply, unless stated otherwise Free facility of transfer of profit and invested funds in nominated Islami Current or Islami Bachat Account Monthly profit/loss payment on daily product basis Round the clock phone Banking through 111-ISLAMI (475-264) or 111-BIP (247)111 Personalized service from Customer Relationship Officers Free Six monthly Account Statement facility
Islami Amadni Certificate offers you the following key salient features:
Available in Pak Rupees Investment can be done for 1, 3, 6, 12, 24, 36 or 60 months Minimum amount of investment is Rs. 10,000/- only Payment of profit/loss and amount of investment on the maturity date Quarterly profit payment for investment of 12 months and above
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Differential and specific pool allocation possible for large deposit holders Profit announcement at the end of every month Facility of premature encashment available. In such a case, the corresponding period weightage would apply, unless stated otherwise Free facility of transfer of profit and invested funds in nominated Islami Current or Islami Bachat Account Free Internet Banking service having free Term deposit enquiry facility Round the clock phone Banking through 111-ISLAMI (475-264) or 111-BIP (247)-111 Personalized service from Customer Relationship Officers Free Account statement facility
Corporate Banking
Account Services: BankIslami offers all basic banking services to suit your routine business needs.
Current Accounts with zero account maintenance fees Choice of currency-PKR, EURO, USD, GBP & JPY Transfer of funds with lowest transaction fees Access to quick and timely foreign exchange services Access to the entire online branch network 102 Branches in 49 Cities Unlimited within city and intercity online transactions Free Deposit and Withdrawal over the counter services at all BankIslami branches
Trade Services:
BankIslami offers a wide range of export and import services designed to assist you in building on your strengths, so that your company can seize new business opportunities around the world. These include:
Bank Guarantee
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Project Finance: (For your Medium & Long term financing needs)
BankIslami offers medium and long-term financing facilities for infrastructure, BMR and industrial projects in all sectors directly or on syndication basis. Ijarah: Ijarah is a contract, whereby, BankIslami will lease out an asset to
the Corporate Client and receive periodical rentals from the Client for the use of that asset. The asset will remain in the ownership of the Bank throughout the term of Ijarah. At the end of the Ijarah term, the asset can be purchased by the Client at an agreed price.
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Ijarah is mainly used for long and medium term fixed asset financing for infrastructure, BMR and industrial projects.
Musharakah Finance:
In Musharakah, a joint enterprise is formed for conducting some business in which all partners share the profit according to a mutually agreed predetermined ratio, whereas, the loss is shared in the ratio of capital investment. From Shariah perspective, Musharakah is one of the preferred modes of financing. The scope of Musharakah is broad. Musharakah can be applied to fulfill project financing needs as well as working capital financing needs of Corporate Clients. Since Musharakah transactions are based on pure profit and loss sharing arrangement, therefore, the risks associated with such transactions are greater as compared to other financing modes. Due to this reason, Musharakah transactions are executed subject to satisfactory review of feasibility of the proposed transaction/project.
Mudarabah Finance:
Mudarabah is a kind of partnership where one partner gives money to another for investing in a commercial enterprise. The investment comes from the first partner who is called 'Rabb-ul-Maal' while the management of the business is an exclusive responsibility of the other, who is called 'Mudarib'. The profits generated are shared according to a mutually agreed pre33
determined ratio, whereas, loss is borne by Rabb-ul-Maal unless the loss is due to negligence of Mudarib. The scope of Mudarabah is broad. Mudarabah can be applied to fulfill project financing needs as well as working capital financing needs of Corporate Clients. Since Mudarabah transactions are based on pure profit and loss sharing arrangement, therefore, the risks associated with such transactions are greater as compared to other financing modes. Due to this reason, Mudarabah transactions are executed subject to satisfactory review of feasibility of the proposed transaction/project.
Investment Banking
The external and internal market conditions have had a major impact in certain sectors of the economy, yet their impact lies short term only. The overall market share of the Investment Banking activities has remained robust and intact. The Bounce Factors in the equity markets is seeing improvements which are likely to see activity in IPO offerings and mushrooming of Mutual Funds. A good pipeline of Capital raising opportunities exists, particularly in Infrastructure, Textile and Services industry. Amiable investment opportunities for the medium term may provide leverage into credit and marketing activities. BankIslami Pakistan Limited takes deep pride in providing Investment Banking to its valued customers, as its core business, revolving around the concept of Wealth Management.
Advisory:
y y y y y Fund Raising Corporate Restructuring Mergers & Acquisitions Infrastructure Development Project Financing
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Structuring:
y y y y Securitizations Distressed Assets Sales Structured Finance Initial Public Offerings
Underwriting:
y y y SUKUKs' Equity Musharakah Certificates
Trusteeship:
y y Trusteeship for SUKUKs etc Fiduciary Roles in Mutual Funds
Specialized Roles:
y Private Equity y Special Projects y Ijarah and Musharkah Syndications
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Registration Process:
y y y y y Call 111 ISLAMI (111-475-264) Speak to a Phone Banking Officer Request for eStatement Activation Specify the Account Specify the Statement Frequency
BankIslami Pakistan launches the IBFT service for all its customers on all its ATMs. BankIslami is the 1st Islamic Bank to offer this service to its customers. IBFT or Inter Bank Fund Transfer facility enables BankIslami's customer to send and receive funds on-line from and to any customer of 1Link IBFT participating member banks.
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ABN AMRO Allied Bank Askari Commercial Bank Bank Al-Habib BankIslami Pakistan Habib Bank PICIC Commercial Soneri Bank United Bank NIB
Advantage of IBFT:
y y y y
y
Convenience Easy to use Instant Transfer i.e. Online Secure 7x24 Facility- Round the Clock
IBFT has revolutionaries funds transfers between two banks as it totally eliminates cheques and is processed on-line
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Process:
Customer Inserts the Card Authentication - using Biometric or PIN Selects "Funds Transfer" from Main Menu Select "IBFT" from Funds Transfer Menu Select the From Account from which Funds will be transferred. Select Bank where Funds are to be transferred Input the Beneficiary Account Number Input the Amount to be transfer Verify the Beneficiary Name retrieved on-line from the Beneficiary bank Confirm the Transaction
BIPL becomes the First Bank to introduce new GBNA based Biometric Deposit ATM in Pakistan.
BankIslami Pakistan Limited is a dedicated Islamic commercial bank operational in Pakistan since April 7th, 2006. BankIslami offers full range of shariah compliant commercial banking products and services. Since inception, BankIslami has considered IT as one of the key success drivers and has displayed it through several First in the Market initiatives. This includes achievements such as First Bank to install Biometric ATM in Pakistan, First Bank to have Large Scale Enterprise wide Linux Implementation and First Bank to deploy Enterprise Wide IP Telephony Infrastructure. The most recent additions to long list of initiatives is deployment of The First Bank to introduce new GBNA based Biometric Deposit ATM in Pakistan. This new ATM facility would allow the BankIslami customers to deposit cash directly in their account at anytime. This new Global Bunch Note Acceptor technology based Biometric Deposit ATM is highly secure and is capable of accepting 100 notes at a time. BankIslami presently has 14 operational branches and plans to expand its nationwide network to 100 new branches in 50 cities within the next three years. Each branch would be equipped with self servicing machines such as Biometric Deposit ATMs and Internet
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banking Kiosk. The objective of BankIslami is to provide authentic shariah complaint products through state-of-the-art customer facilities.
BankIslami and ORIX signed an agreement which will allow BankIslami customers to use their One Card (ATM/ Debit Card) on all the POS systems of ORIX Network across Pakistan. Speaking on the occasion Mr.Hasan A Bilgrami CEO BankIslami said "As part of our technology initiatives we are building a relationship with ORIX that would allow the customers of BankIslami to use their One Card (ATM/Debit Card) on Orix Network". Further Mr. Bilgrami added "We took the initiative to launch the first Biometric ATM in Pakistan as well as in the region and had deployed Electronic Tickers on all our branches". BankIslami already has ten Biometric ATM's installed, which will reach to about 50, by the end of 2007. BankIslami's branch network has now reached to ten, majority of them being in Karachi. For 2007, BankIslami is planning to open 18 more branches taking its network to 28 in less than 2 years time.
BankIslami becomes first Pakistani bank to use Haydrian's XM3 AML solution, which helps banks detect, monitor and fight money laundering and other financial crimes.
BankIslami Pakistan Limited, a leading Islamic bank in Pakistan has decided to implement Haydrian's XM3(R) Anti-Money Laundering (AML) solution. BankIslami's executives are confident that XM3 will allow their bank to manage risk more effectively as they continue to grow and expand their operations throughout Pakistan and the Middle East. Technology has been an important component of BankIslami's success, and XM3's cutting edge risk management capabilities will allow BankIslami to better fight financial crime and build a stronger compliance program as their business continues to progress and flourish. Haydrian's XM3 is a state-of-the-art detection, prevention and risk management platform, which safeguards financial institutions of all types and sizes, from drug trafficking, arms
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transactions, terrorist transactions and other forms of money laundering and the associated reputation damage. "XM3's seamless technology and Haydrian's first-rate team here in Karachi made selecting an AML solution easy. With our rapidly growing number of branches and customers, XM3 is the perfect fit to assist our compliance staff with the painstaking job of detecting and monitoring transaction and customer data. I am pleased to be raising the AML standard for Pakistan with XM3. I cannot stress enough how vital an AML solution is to the success of any bank today," said Mr. Asad Alim, Head of Information Systems at BankIslami. Haydrian's XM3 AML solution was designed and developed by an internationally recognized management and engineering team to address effectively the increasing demands of combating money laundering while meeting the compliance guidelines established to limit the risk of institutions with local and global prominence. "We are very pleased to have BankIslami as our first AML customer in Pakistan. With the acquisition of XM3 it will continue to build and promote AML best practice and be a leading example for compliance in Pakistan and throughout the Middle East. We hope our relationship continues to grow, as the bank continues to expand its banking operations. We believe that BankIslami will be the first of many Haydrian clients in Pakistan," said Anis Younus, director of Pakistan operations for Haydrian.
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Name:
BankIslami
The name of bank represent that the bank is working under the light of Quran and Hadith.
Logo:
Slogan: Serving You, the Right Way Nearly all banks dealing in interest and this is forbidden in Islam. BankIslami is working under the light of Quran and Hadith. And thats why slogan represents BankIslami serving in a right way because following Quran and Hadith is right way. URLs: http://www.bankislami.com.pk/
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Brand Image of BankIslami BankIslami has been able to build a strong image by using smart marketing ideas that resonate well with the public mind. For example, the calligraphy of the Bank's name in Urdu have been done by the same calligrapher Shafiq uz Zaman who has been working in the Holy Mosque of Medina in Saudi Arabia. The name of bank also have good image in minds of people.
BankIslami Positioning BankIslami is trying to set a positioning in mind of customers that BankIslami is working on Islamic way and trying to create more brand awareness in minds of people.
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It was an interested experience to do brand audit on BankIslami Pakistan Limited. The staff was very cooperative and due to their help I learned big deal about modern Islamic banking Questionnaire for Brand Inventory
Q1. What is Islamic Banking? Islamic banking has been defined as banking in consonance with the ethos and value system of Islam and governed, in addition to the conventional good governance and risk management rules, by the principles laid down by Islamic Shariah. Interest free banking is a narrow concept denoting a number of banking instruments or operations, which avoid interest. Islamic banking, the more general term is expected not only to avoid interest-based transactions, prohibited in the Islamic Shariah, but also to avoid unethical practices and participate actively in achieving the goals and objectives of an Islamic economy.
Q2. What is a Biometric ATM? A Biometric ATM is a unique one of its kind proposition in Pakistan where a customer can access an ATM by providing thumb impression. There is no need to remember your pin code now, your thumb impression becomes your identity on BankIslami ATM.
Q3. What type of Value added services are you providing? We are providing following value added services to our coustomers; Online Banking Inter Bank Fund Transfer Internet Banking
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Visa/Debit Card Biometric ATM 24/7 Phone Banking eStatement Self Service Phone Banking Lockers
Q4.What is your target market? Target market of our Bank is all kind off customers like home users, business and executive class. But the major focus of our Bank is business class. Although it cant ignore home users also because it is a big segment of the market. Thats why BankIslami has introduced a variety of services to all classes.
Q5. What is your marketing strategy? BankIslami is trying to promote the brand in the customers by actually providing value to its customers no matter that BankIslami promotional campaign is comparatively slower as compared to other Banks. BankIslami is using print media comparatively more as electronic media because its also big source of providing information.
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BankIslami is trying to capture maximum of the market share by providing value Services.
Q6. What are your core brand values? BankIslami is strongly committed towards its core values of: Product authenticity Customer focus Meritocracy Integrity Team work Humility Innovation
Q7. How you have segmented the market? BankIslami has segmented the market in two major segments. First one is business class and other one Is workers, households or home users.
Q8. What is your desired positioning in the mind of target customers? BankIslami is trying to set a positioning in mind of customers that BankIslami is working on Islamic way and trying to create more brand awareness in minds of people.
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Q9. What is your actual positioning in the minds of customers? As far as the actual positioning is concerned, BankIslami has become successful in creating image in the minds of customers. As compared to all other banks, BankIslami services are much more and quality of service is also much better.
Q10. What kind of associations you are trying to create regarding your brand? BankIslami is trying to associate certain things strongly with its brand name. Our bank provides, better quality services, better customer services, most caring e-banking service that cares about customers expectations and customer satisfaction, suitable for all for home users especially for business community and one step ahead in introducing new services.
Q11. Do you think that your current associations are strong, favorable and unique? Yes! Definitely and obviously these associations are strong favorable and unique. People up to a great extent associate these things with the brand. And also these associations are favorable because they are in the best interest of our valued customer. And they are unique also because no other company is providing these things appropriately to the customers.
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Q12. What are the competitive advantages that your brand has as compared to other banks? There are a number of benefits which our Bank is providing to our customers and no other Bank is providing. The first no charging interest, lowest rate of car leasing, home loan, business loan etc.
Q13. What is your brand strength (image and performance)? BankIslami has been able to build a strong image by using smart marketing ideas that resonate well with the public mind. For example, the calligraphy of the Bank's name in Urdu have been done by the same calligrapher Shafiq uz Zaman who has been working in the Holy Mosque of Medina in Saudi Arabia. The name of bank also have good image in minds of people.
Q14. According to you who are your competitors? The major competitors of BankIslami in the market right now are; 1. Meezan Bank Ltd. 2. Al-Baraka
Q15. How does your brand communicate to the customers? BankIslami communicate to the customers through print media, electronic media, telecommunication and internet and by sponsoring different Islamic events.
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BankIslami shows its by its brand name.The bank which is banking under the lights of Islam.
Q17. What is your distribution channel and how do you effectively manage it? We distribute our services to our customers through our more than 100 branches in different cities.
Q18. If your competitors copy your competitive advantages then what strategies would you implement? We believe in making innovations.
12. Privately Placed SUKUK Issue of Optimus Limited Amounting to Rs. 250,000,000/13. Privately Placed SUKUK Issue of Haq Bahu Sugar Mills Limited Amounting to Rs. 295,000,000/14. Privately Placed SUKUK Issue of Three Stars Hosiery Mills (Pvt.) Limited Amounting to Rs. 400,000,000/-
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The bank plans to open its first overseas branch in Afghanistan in the next three years, because it is a "local and logical choice," Bilgrami said. It will open at least two more within five years, possibly including an outlet in Sri Lanka An alliance with an overseas partner will allow BankIslami to access customers in Saudi Arabia, United Arab Emirates, Qatar and Kuwait in the Middle East, Bilgrami said. He also plans to sell Shariah-compliant products in South Africa, Kenya, Zaire, Tanzania, Uganda and Botswana, in addition to Canada. Pakistan's Islamic banking industry expanded its assets by 42 percent in the six months that ended March 31, to 134.6 billion rupees, according to central bank data.
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Strengths
It has a competitive advantage of doing less marketing as compassed to conventional banking and as a result better cost control. For speculative motive less money is used due to which there is reduction in volatility in investment and chances of investment failure. It is feasible location wise and geographically To attract new customers and retain potential customers by beginning innovative products and service like BIPL offers e-banking, phone banking etc. As bank made on name of Islam in Pakistan so, it have advantage of religious position in a country. Saving can be mobilized and increasing deposits of banks using as charities and zakat fund schemes etc.
Weaknesses:
To complete with conventional banks a lot of capital is required and large amount of recourses have to maintain to meet any loss situation in Islamic finance modes of investment. To do job efficiently and serve Islamic financial services, training is required for improving skills of management and staff. Staff of BIPL is less experienced and young Work I more than the employee's working houses Main weakness o BIPL is lack of specialization i.e. employees are rotated from one job to another job of totally different characteristic
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Opportunities:
Due to Islamic banking new markets have emerged like Islami mortgage, Islamic insurance and other investment projects etc BIPL offers value added services and products to customers
Threats:
Market demand is less as compared to conventional interest based banking. After 9/11 attacks on WTC environment of Islamic banking in west has declined. For implementation of Islamic banking a lot of legislation is required especially in non-Muslim countries. Increasing competition in Islamic banking sector Poor economic condition of country.
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Strengths:
Continued to expand its branch net work. It is the strength of Meezan bank that I provides healthy and fair working environment. Shareholding is very strong. Full fledged Islamic bank Highly invested in technology.
Weaknesses:
Charges are very high for different activities as compared to competitors. Low promotion and advertisement of produce and services. Restricted shariah based policies. Few services are offered by Meezan bank as compared to competitors. There is no credit card facility No long term relations maintain with customers.
Opportunities: Increasing demand of Islamic financial products and services. Market share in creases through branch expression through out the country. Due to Islamic banks (Meezan) people are moving from conventional banking to Islamic banking.
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Threats:
Charges in govt policies Political instability High interest rate change by SBP Due to changes in foreign exchange rates value of financial instruments fluctuates Entry of new competitors.
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Strength:
Commitment to Islamic shariah Staff are qualified and experience in field of management and banking Relationship of manager with staff and staff with customers is quite good. High job satisfaction Environment is friendly and co-operative Senior management is competent.
Weaknesses:
Centralized decision making which results loss of confidence among employees and mgt. Lack of marketing effort Less internal recruitment for new posts. Lack of training at all levels Lengthy process of recruitment.
Opportunities:
Better Management Location of branch is very suitable place Proper utilization of internal expertise being major change in organization
Threats:
Increasing competition in both domestic and foreign market. Good job opportunities offer outside attract our current employees. Other organizations are using better HR Technique.
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Comparison:
Meezan bank has 204 branches throughout the country while BIPL has 102 branches so; Meezan bank has strength of increasing market share in country through expending its branch network. Meezan bank provides training facility to their staff members as compared to BIPL. Location wise BIPL is better that Meezan bank. Work is over loaded to employees in BIPL as compared to Meezan Bank. Services and financial instruments offered by Meezan bank are charged highly as compared to its competitor BIPL. As compared to other conventional banks BIPL, MBL and Albaraka bank are not following marketing strategies like advertisement. Few services are offered by Albaraka bank than BIPL and MBL. Process of recruitment is lengthy in Albaraka and MBL than in BIPL.
RECOMMENDATIONS
It is observed that the employees were overburdened so they have to stay at branch till late at night. In this way their efficiency is affected and hiring more employees can reduce their work. The employees should be assigned jobs for specific period and than they should rotated to other department so that they gain knowledge/ experience of other jobs.
BankIslami should properly advertise and Communicate to public about the services provided by it, so that more customers will be attracted.
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The banks management should give more incentives and pay scale of officers should be revised & improved.
System and operations should be more defined and organized. BankIslami has not strong position in market. So BankIslami should do heavy advertisement both electronically and print media to create public awareness. BankIslmai should increase branches in different cities.
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