Private Banking Sector Of Pakistan

History of Pakistan Banking Industry

Humble beginnings, 1947 1970
Our financial sector evolved very differently from banks in the developed world. For nearly a year after partition, Pakistan had no central bank. Habib Bank established in 1941 filled this gap initially, until the State Bank of Pakistan (SBP) was set up in 1948 under quasi-government ownership. The role of domestic banks was particularly limited at the time, accounting for only 25 of the total 195 bank branches in the country. Therefore, the SBP was initially mandated to develop commercial banking channels, and maintain monetary stability so trade and commerce could flourish in the newly-created state. Subsequently, Habib Bank, Allied Bank and National Bank were amongst the first to start operations with strong support from the central bank.

A legacy of public control, 1970 1980

Commercial banking grew favorably in Pakistan until 1974. Under the nationalization policy implemented by Zulfikar Ali Bhuttos government, thirteen banks were brought under full government control, and consolidated into six nationalized banks. The Pakistan Banking Council was set up to monitor nationalized banks, marginalizing the SBPs role as a regulator. These measures were meant to improve lending to prioritized industries. However, while directed lending was viewed favorably at the time, little can be said of the long-term gains that have been achieved.

Privatization, 1990 1997

By 1991, the Bank Nationalization Act was amended, and 23 banks were established of which ten were domestically licensed. Muslim Commercial Bank was privatized in 1991 and the majority ownership of Allied Bank was transferred to its management by 1993. By 1997, there were still four major state-owned banks, but they now faced competition from 21 domestic banks and 27 foreign banks. More importantly, administered interest rates were streamlined, bank-wise credit ceilings removed and a system of auctioning government securities was established, forcing the government to borrow at market determined rates.
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Ushering in the reforms, 1997 2006

After privatization, transformational reforms were pushed through. The central banks regulatory powers were restored via amendments to the Banking Companies Ordinance (1962) and the State Bank of Pakistan Act (1956). Subsequently, corporate governance, internal controls and bank supervision was strengthened substantially. Legal impediments and delays in recovery of bad loans were streamlined in 2001. Furthermore, the scope of prudential framework set up in 1989 was enhanced, allowing banks to venture into hitherto untapped business segments. Lending to small and medium enterprise had previously been neglected, whereas consumer and mortgage finance had not developed prior to reforms.

The post-reform era, 2006 present

Buoyed by the spirit of liberalization, the sectors landscape has changed significantly. By 2010, there were five public commercial banks, 25 domestic private banks, six foreign banks and four specialized banks. There are now 9,348 bank branches spread throughout the country, catering to the needs of some 28 million deposit account-holders.

Banking in Pakistan the long journey ahead

Much still remains to be accomplished. In the absence of sustainable economic growth, banks will remain vulnerable to business cycle fluctuations. As recently as 2008, non-performing loans increased sharply in response to the preceding years of easy credit and risky consumer lending practices. Moreover, strong regulation will continue to be required so as to maintain the delicate balance between industry concentration and competition. Presently, the top five banks account for about 50% of the sector, measured in terms of total advances. Finally, the benefits of financial liberalization must trickle down to the common man. Banks are proactively exploring new business models to make this happen such as branchless banking. But more headway needs to be made before existing deployments such as Tameer Banks Easy paisa or UBL Omni reach a critical mass of users.
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Reforms have helped banks come a long way, but unless the central bank remains autonomous, and continues to err on the side of caution, liberalization may quickly become a bitter pill to swallow.

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Private Banking Sector Of Pakistan

Private Banking Sector of Pakistan in Light of an Article by Mr. Ishrat Hussain Ex-Governor State Bank
Pakistans private banking sector reforms which were initiated in the early 1990s have transformed the sector into an efficient, sound and strong banking system. The most recent comprehensive assessment carried out jointly by the World Bank and the IMF in 2004 came to the following conclusion: Far reaching reforms have resulted in a more efficient and competitive financial system in particular, the predominantly state-owned banking system has been transformed into one that is predominantly under the control of the private sector. The legislative framework and the State Bank of Pakistans supervisory capacity have been improved substantially. As a result, the private financial sector is sounder and exhibits an increased resilience to shocks. The major changes that have occurred in the banking sector during the last decade or so can be summarized as follows: (a) 80 percent of the banking assets are held by the private sector banks and the privatization of nationalized commercial banks has brought about a culture of professionalism and service orientation in place of bureaucracy and apathy. (b) The human resources base of the banks has been substantially upgraded by the adoption of the principles of merit and performance throughout the industry. Recruitment is done through a highly competitive process and promotions and compensation are linked to training, skills and high performance. The banks now routinely employ MBAs, M.Coms, Chartered Accountants, IT graduates, economists and other highly educated persons rather than Clerical and Non Clerical Workers. The banking industry has become the preferred choice of profession among the young graduates. (c) Banking Technology that was almost non-existent in Pakistan until a few years ago is revolutionizing the customer services and access on-line banking, Internet banking, ATMs, mobile phone banking and other modes of delivery have made it possible to provide convenience to the customers while reducing the transaction costs to the banks. Credit Cards, Debit Cards, Smart Cards etc. are a thriving and expanding
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business in Pakistan. Once the RTGS is put in place the payment system in Pakistan. Would enter a new phase of modernization. (d) Competition among the banks has forced them to move away from the traditional limited product range of credit to the government and the public sector enterprises, trade financing, big name corporate loans, and credit to multinationals to an everexpanding menu of products and services. The borrower base of the banks has expanded four fold in the last six years as the banks have diversified into agriculture, SMEs, Consumers financing, mortgages, etc. The middle class that could not afford to buy cars or apartments as they did not have the financial strength for cash purchases are the biggest beneficiaries of these new products and services. As the majority of the banks are operating in the private sector they will remain guided by the bottom line considerations i.e. the profits. Consolidation and market competition will act as a deterrent on abnormal profits but it is the responsibility of the regulator to ensure that these profits are not made by taking excessive risk with the depositors money or by banks indulging in collusive practices. The regulator has to ensure that the access to credit is further broadened and small farming households, small and medium businesses and middle classes are able to meet their legitimate credit needs. At the same time the regulator has to take stringent action against those banks found guilty of anti-competitive or collusive practices. A closer look at commercial banks operating in Pakistan reveals some emerging trends. The nationalized commercial banks (NCBs) are going through extensive restructuring program. Private Banks are consolidating their position by increasing their paid-up-capital and expanding branch network. Foreign banks are selling their operations to local banks and taking an exit from Pakistan. Are the conditions not conducive for foreign banks for operating in Pakistan? Or, the higher profit made in the past was only because of the inefficiency of local banks? To explore this one has to look at the shift in paradigm in Pakistan's commercial banking sector. The process was initiated in early nineties with the privatization of Muslim Commercial Bank (MCB) and Allied Bank of Pakistan (ABL) and establishment of a dozen banks in the private sector. This was followed by the first phase of financial sector reforms. Now the consultations with banks are going on to initiate the second phase. The local banks have been asked to: raise their paid-up capital to one billion rupee, follow maximum disclosure requirement and make full provisions
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against non-performing loans (NPLs). Efforts are also being made to restructure NCBs for their ultimate privatization. All these measures have changed the working environment. The local banks have emerged strong competitor of foreign banks.

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Private Banking Sector Of Pakistan

United Bank Limited

Introduction:
UBL opened up for business on November 7, 1959 with authorized capital of Rs.20 million and Paid-up capital of Rs.10 million. In its very first year, it mobilized deposits of Rs.70 million and earned a profit of Rs.O.7 million. It continued to grow rapidly and soon became one of the largest banks in the country. The main reasons for its exemplary growth were the introduction, in many instances for the first time in Pakistan, of professional management, computers, economic and business research, latest managerial practices and customer orientation. UBL remained in the private sector for 15 years until it was nationalized on January 1, 1974 with other Pakistani banks. The bank continued to grow rapidly even after nationalization. Its resource base expanded, the number of branches increased, and overseas operations grew. As an organization, UBL has grown rapidly except in the last couple of years when it ran into some problems. In 1996, its deposits totaled Rs.105.9 billion; advances amounted to Rs.68.6 billion; assets totaled Rs.177 billion and the number of branches was 1701, including 27 overseas branches. UBL has had its share of problems, most of which were the result of the conglomeration of some unpredictable factors. More recently, the lackluster growth of the economy has undermined the banking sector's profitability and competitiveness.

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UBL's new management has developed a well-thought-out plan for its growth and profitability. In the main, it focuses on accelerated loan recovery, surplus asset disposal, improving credit systems, operational controls, reporting and monitoring. From a practical standpoint, the use of better technology, focusing on the appropriate market segment, and project and specialized finance will facilitate rapid and sustainable growth. The world's financial system or, to use the latest jargon, financial architecture, has changed greatly. New products have been introduced, the riskiness of financial systems has increased and the lines of demarcation between the various types of financial institutions have become blurred. Improvement in consumer service and prompt attention to customer needs lie at the heart of UBL's promotional strategy. All planning is directed and geared to customer service and satisfying the client's diverse needs. The UBL of the past was renowned for its customer service and the management plans to put new life into it. To that end, training programs have been accelerated and upgraded and the staff is encouraged to revamp their skills. UBL has always been an upbeat and growth-oriented institution, but this does not mean that it has been oblivious to the social responsibilities of business organizations. It always fulfilled the mandatory credit targets it was given for loaning to the priority sectors. As part of the government's policy to improve the technical skills of Pakistani workers, it has set up two computer literacy centres at Sheikhupura and Muzaffarabad. On the level of social services per se, the Bank has encouraged sports and built a first-rate sports complex in Karachi. It is soon going to link up with Internet and SWIFT to provide prompt, responsive service. It has major plans to train the staff to provide customers the services they expect from first-rate banks.

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Private Banking Sector Of Pakistan

United Bank Limited Banking Services

A- Consumer Loans

Owning a house of your very own is a cherished dream. A lot of planning and hard work is involved in making this dream come true. That is why, at UBL we aim to make your decision easier, by offering you the right ingredients that can help you realize your dream with absolute convenience. UBL Address empowers you to become the proud owner of a home by offering a variety of product and pricing options that are flexible yet affordable. So choose the best product option and pricing to suit your needs. All product options are amortized and range over a tenor of 3 - 20 years. Buying a Home Building a Home Land plus Construction

Eligibility Criteria

Minimum monthly income: Rs.50,000 Age: 23 to 65 years Resident Pakistani Self-employed businessman/professional or salaried individual Minimum loan size: Rs. 500,000

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Private Banking Sector Of Pakistan

UBL Drive is a unique auto financing product which offers you features, options and flexibility unmatched by any other bank, because at UBL, you come first. Both fixed and floating rates are offered to our customers. At UBL, we offer financing for new and used cars. Drives Car Replacement Plan is the slogan name for a premier auto financing product. Customers who intend to avail loan facility from UBL Drive under this variant can readily have their existing cars replaced after a year of financing. Used Car Financing With UBL Drive you can buy your favorite used car (up to 5 years old) at the most affordable rates. Pricing Plan (Fixed Rate) Tenure Rate 1 to 2 years 20% - 21% 3 to 4 years 20.5% - 21.50% 5 years 21% - 22%

Car Replacement Plan Drive's Car Replacement Plan is the slogan name for a premier auto financing product. Customers who intend to avail loan facility from UBL Drive under this variant can readily have their existing cars replaced after a year of financing. Product Features

Free Tracking Device Option will be provided to the customers on affordable rates. This will be done in collaboration with the insurance companies on our panel.

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Zero Pre-Payment Penalty No penalty will be charged from the customer if the loan is been paid off after a year.

Payment Holidays A unique concept whereby which payment breaks will be given to the customers on occasions such as Eid etc. Payment Holidays will be given once a year to the customers.

Payment Flexibility Whereby which the customer will be provided the flexibility to change the loan tenor, opt for partial payment of the outstanding principal amount.

Insurance Options UBL Drive offers you the following insurance options:

Comprehensive insurance Insurance financing for the first year Discounted rates with free tracking device

B- Silah Mila

Remember the time when you were rewarded for your achievements - All simple All instant. UBL has designed a campaign for the first time in Pakistan to acknowledge and reward customers who have shown excellent performance in their loan repayments with other banks. Customers, who maintain good credit history with any bank in Pakistan on consumer products can qualify, based on a certain threshold of credit bureau scores. These customers are being offered rate breaks and instant rewards upon qualifying for UBL consumer products.

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Instant Rewards / Lower Charges

Product UBL Credit Card Instant Rewards / Lower charges Fuel worth Rs. 500/- on activation. Fuel worth Rs. 500/- on BTF on installments for an amount of Rs. 50,000/and above. UBL Drive (Auto Loan) UBL Cash line (Running Finance) 50% off on processing fee 50% off on processing fee

UBL Address (Home Loan)- new loan as well as 50% off on processing fee BTF

C- Priority Banking
Signature, UBL's Priority Banking service is uniquely designed to meet the highest expectations of our high potential, high net-worth clients; wherever you may be. Launched as an independent brand, Signature offers focused and personalized Wealth Management Services for selected, high net-worth individuals in a completely secure and congenial atmosphere. Being preferred customers, our clients will be given exclusive benefits, free services and a range of value added facilities.

D- Corporate Banking
Our mission is to serve all your corporate needs and ensure your full satisfaction through product innovation, personalized banking, and top notch service. The CBG department of UBL defines corporate banking in Pakistan. Amongst the local banks UBL CBG is the pioneer in providing innovative solutions to its diversified and satisfied customer base. UBL CBG is considered to be a major player in the financial market of Pakistan. The Corporate Banking Group focuses on attracting and servicing large portfolio customers. Our forte is providing exemplary customer service using the "Single Window" concept and product
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superiority. The Relationship Management team manned by highly qualified individuals from the industry has steadily expanded our customer base and continues to enhance our cordial relations with our esteemed clients. Despite the sluggish economic growth in recent years, UBL outperformed all the other local banks in the corporate banking sector primarily due to CBG's emphasis on establishing and enhancing relationships with foreign/local blue chip and middle market customers thereby capturing significant market share. UBL's appetite for large exposures coupled with dedicated Structured Finance Unit, and an innovative team of professionals having extensive experience of Corporate Banking gives it the right platform to succeed in todays competitive and a demanding environment. The success of CBG has been established from the fact that UBL received the 'No.1 Euro money 2000' Best Local Bank award and recognized it to have outperformed all other banks. In year 2000, UBL was also voted as the best Corporate Bank by the customers of a major foreign bank in a survey. Aggressive marketing combined with professionalism has led to an increase in UBL's market share with top corporate customers and in some cases replacing Foreign Banks. Presently, its portfolio includes the quality names in the country, which were initially confined to foreign banks only.

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Private Banking Sector Of Pakistan

E- UBL Omni

UBL Omni now brings a host of banking services to your nearest "Dukaan". UBL Omni Dukaans are located in more than 600+ cities and towns across Pakistan. This is a major milestone in the evolution of banking that will reshape the traditional banking model by offering basic banking services across urban and rural Pakistan, well beyond the regular branch networks of banks. Customers across Pakistan can now open a UBL Omni bank account at any UBL Omni Dukaan of their choice, whether close to their home or place of work, by using their CNIC number and mobile phone number - their mobile phone number will effectively become their bank account number irrespective of which service provider they use. UBL Omni account holder will subsequently be able to deposit and withdraw cash, make utility bill payments, send or receive money, purchase mobile card vouchers, make postpaid mobile bill payment and much more by using diversified array of convenient channels which includes UBL Net banking/ WAP, SMS, Contact Centre or ATM. No longer will they have to visit a bank branch to conduct their basic banking transactions nor will they be limited by standard banking hours. People without a UBL Omni bank account will also be entertained at a UBL Omni Dukaan where they can make utility bill payments, send or receive money, purchase mobile card vouchers and make postpaid mobile bill payments.

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Private Banking Sector Of Pakistan

F- Card Products
Welcome to the world of UBL Cards, the most exciting and vibrant card brand in Pakistan. We offer you a range of innovative and exciting cards that are not only powered by the security of chip but also enable you to personalize them any way you want. In order to get more information on our Prepaid, Debit and Credit Cards range, click on the following cards: UBL Wiz is Pakistan's first ever Prepaid VISA Debit Card that provides the convenience, security and benefits of an ATM and Debit Card, locally and internationally. More than just an ATM card, you can use your UBL Wiz everywhere VISA cards are accepted. Whether you are using it online, paying for petrol, shopping or dining, you are accessing money directly from your prepaid card, without having to visit the bank.

With the new UBL Mega Wallet Card, a whole new rewarding experience awaits you. A revitalized and colorful design beckons you to a mega experience of power and rewards. Every time you use your card to withdraw cash or conduct transactions, you will be rewarded with points that can be redeemed for exciting gifts, part of Pakistan's first ever loyalty program on Debit Cards (to be launched soon). Not only that, we strongly value your relationship, and the excitement does not stop here; your other interactions with the bank will also be rewarded through points, for example, paying your bills on time or requesting a bank draft.

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Additional Features: Available to all Account Holders Nine Supplementary Cards 24x7 Contact Service Fund Transfer Welcome to the world of UBL Credit Cards, the most exciting and vibrant credit card brand in Pakistan. We offer you a range of innovative and exciting cards that is not only powered by the security of chip but also enable you to personalize it any way you want.

Galleria - Picture Card Your choices say a lot about your personality. Shouldn't your Credit Card! Being different was never so easy! Now UBL Credit Card gives you the flexibility to make a statement by letting you design your credit card in almost any manner you want. Galleria, by UBL Cards is Pakistans first picture credit card that gives you freedom of choice and expression as you can now customize it with your favorite image and make your credit card as unique as you are. Express your individuality. Add a personal touch. Keep a loved one close to your heart. Or simply make a statement. Personalize your card with a picture of your choice on it. Choose whatever you think defines you or represents your personality, your passions, your style or your likes. Perhaps you could put up pictures of yourself, your loved ones or anything you please. It's entirely up to you. For the first time ever in Pakistan, a card that lets you express your true self.
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The process is simple, the options are many, and the result is uniquely you. The UBL Credit Cards team now brings Pakistan's 1st Auto Credit Card - UBL PSO Auto Credit Card. Keeping in mind the success story of our standard UBL Card, with annual fee waiver and free liters.

Card Holder Protection With Visa Platinum you have access to our medical and legal referral service. And you are automatically covered by our extended warranty and purchase protection insurances when making purchases Visa Global Merchant Offers

Car Rentals Cruise Dining Hotels Travel

Visa Offerings

DFS Galleria Bali Program Japan Duty Free Thailand International Airport Korea Airport DFS Promotion Visa Malaysia: Flying Emporium Visa Hotel Club Program Private Villa's 2011 Program

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Priority Pass

Priority Pass is the world's largest independent airport lounge access program Membership offers great value for money and allows you to use any of 600 airport lounges whenever you travel

Executive Golfing

Enjoy special privileges at top golf clubs across the world

Emergency Assistance (Lost or Stolen Cards)

Emergency card replacement

G- Investment Banking Group

Established in 2002, UBL Investment Banking Group is one of the largest and most experienced investment banking groups in Pakistan. We are the only Pakistani commercial bank with an investment-banking desk in the GCC region. A dedicated specialist team of 19 investment bankers, with diversified academics and experience in Pakistan and UAE, has the expertise to cater to the needs of both domestic and regional clientele. With an award winning team, UBL Investment Banking Group possesses diversified industry experience, exposure to a wide array of landmark transactions and knowledge of broad range of products resulting in top-notch deal execution to provide quality investment banking services to its clientele. Our well established deal execution and distribution experience is evidenced by successful closure of over 161 debt and equity transactions amounting to USD 14,559 million during 2003 2010.

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H- UBL Net Banking

UBL net banking offers you a simple, convenient and secure way to manage your bank accounts 24/7 from anywhere in the world. UBL netbanking is the most trusted Internet Banking portal in the country primarily because of its uniquely strong security features and an attractive list of transactions and activities available. With UBL net banking, you can view all your deposit, credit card and loan accounts. You can pay your utility bills, mobile phone bills, buy prepaid vouchers, invest in UBL Funds, transfer funds to any UBL account holder or any 1Link member bank account in Pakistan. You can also view cheques-in-clearing, manage your ATM card and shop online at our various partner stores in Pakistan, all from the comfort of your home. UBL also offers you the power and convenience of using netbanking on your Mobile phones through Wireless Application Protocol (WAP) making your account more accessible than ever before.

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Private Banking Sector Of Pakistan

Muslim Commercial Bank

Introduction:
MCB Bank Limited, with more than 60 years of experience as one of the leading banks in Pakistan, was incorporated on July 9 in 1947. The bank has journeyed remarkable tenure of more than half a century of competitively edged and well positioned heights of success by deploying quality banking, heads on technological developments, professionally leading management and prudent and ethical work methodologies. MCB was nationalized along with other private banks in 1974 as part of Government of Pakistan's economic reform movement and was later privatized to Nishat Group lead consortium in 1991. Since privatization, MCB's growth has been

phenomenal. Today, MCB in one of the largest foreign banks in Sri Lanka, the first bank in Pakistan to launch Global Depository Receipts (GDR) in 2006, has strategic foreign partnership with Maybank of Malaysia which holds 20% shares in MCB through its wholly owned subsidiary Mayban International Trust (Labuan) Berhad since 2008, has international indirect regional presence in Dubai (UAE), Bahrain, Azerbaijan, Hong Kong and Sri Lanka and serving through a domestic network of over 1,130 branches and 600 ATMs across Pakistan with a customer base of 4.5 million (apprx.) MCB is reputed as one of the most sound financial institution and as one of the leading banks in Pakistan with a deposit base of PKR. 462 bln (apprx.) and total assets of PKR 605 bln (apprx.). The bank is versed as one of the oldest and most responsible banks in Pakistan and has played pivotal role in representing the country on global platforms while being one of the few institutions that are recognised and traded in the international market. The bank has also been acknowledged though prestigious recognition and awards by Euromoney, MMT, Asia Money, SAFA (SAARC), The Asset and The Asian Banker.

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Muslim Commercial Bank Banking Services

A- Loans
Term Loans: You as an individual can gain and benefit the most through MCB Consumer Banking. In MCB you get friendly, efficient and attentive personalized banking services - a unique banking relationship experienced by each MCB client. Working Capital Loans: Based on the customer's specific needs, the Corporate Bank offers a number of different working capital financing facilities including Running Finance, Cash Finance, Export Refinance, Preshipment and Post- shipment etc. Tailor- made solutions are developed keeping in view the unique requirements of your business. Trade Finance: MCB offers trade finance services that comprise of an entire range of import and export activities including issuing Letters of Credit (L/Cs), purchasing export documents, providing guarantees and other support services. Below is a list of few services MCB provides to help any business having importing needs:

Import Documentary Credits (LCs) both Inland and Foreign

Sight Mix Payment

Back to back Documentary Credits (LCs) Standby Documentary Credits (LCs) Documentary Collections Shipping Guarantees Import Contract Registration Open Account Transactions
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MCB can help your export business through any one or combination of following products being offered through wide network of our branches and Trade Services Centers (TSCs).

Documentary Credit (LC) Advising Documentary Bills Drawn Against LCs Standby Documentary Credits (LCs) Documentary Collections Documentary Credit (LC) Confirmation Trade & Credit Information

Our range of financing options for the trade business is as follows:

Bill Purchase /Negotiation

Inland Foreign

Foreign Currency Bill Discounting Foreign Currency Export Finance Finance Against Packing Credit Finance Against Foreign Bills SBP Export Refinance (Part-1 and Part-11) Finance Against Imported Merchandise Finance Against Trust Receipt Foreign Currency Import Finance

B- Investment Banking:
Our Investment Banking arm has played a dynamic role in the local market space in Pakistan through innovative structured solutions for its customers and is regarded as one of the leading investment banking house in the country. Our IB team has strong origination and distribution capabilities and a successful track record for efficient execution. In 2007, a USD 53 million listed bond issue led by MCB was awarded The Banker's Deal of the Year for Pakistan, by Financial Times, UK. During the last three years, we have led or participated in deals over USD
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5bn, of which 65% are in the energy sector, 14% in fertilizer and chemicals, 11% in telecom and 10% in other industries. Our goal is to provide best financial solutions to our client helping them achieving their objectives and support economic growth of the Country. Investment Banking Products and Services Includes: Project and Structured Finance Syndicated loans and debt capital markets Quasi equity/hybrid instruments Equity capital raising Advisory services Commercial banking

C- MCB Virtual Banking:

MCB Virtual Internet Banking offers you the convenience to manage and control your bank account and finances; when you want and where you want. MCBs Virtual Internet Banking facility is: Simple Secure Free of cost.

MCB Virtual Internet Banking allows you to access banking services, 24 hours a day, 7 days a week and throughout the year. MCB Virtual Internet Banking offers a wide range of online services which makes your banking accessible anytime and from anywhere. Detailed Account Summary of all listed accounts. Mini-statements of each of the listed accounts showing last 6 transactions for those account(s).

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Statement-by-Period of each of the listed accounts, based on the period specified. Immediate or Scheduled Transfer of Funds between your own accounts, as well as to third-party accounts setup as beneficiaries, maintaining accounts with MCB. Scheduling of One-Time as well as Recurring Funds Transfers. Immediate or Scheduled Bill Payments. Scheduling of One-Time as well as Recurring bill payments. Option for Full or Partial payment based on the payment conditions. Payment/Transfer Alerts for reminding, in advance, prior to the processing of specified payments and transfers. Mobile Recharge facility for all mobile companies!

D- Islamic Banking:
Islamic Banking Division was formed with effect from 1st January 2003, which in a short span of time, has developed sufficient expertise, necessary infrastructure, information technology, and manpower to run Islamic Banking Operations and offer Islamic Banking Products. Mission Statement: To play a dynamic role in promotion of Islamic Banking and win customers trust by providing sharia compliant financial services. Vision Statement: To become a leader among Islamic Banks of the country in the coming years capturing major share of the domestic Islamic financial market.

E- Privilege Banking:
As a member of MCB Privilege, you will possess some of those unparalleled advantages that puts you ahead of others. As you begin your journey with us, we take great pleasure in inviting you to discover a higher level of personalized services, more rewarding in-branch experiences, a wider array of deposit and investment products that are tailored to meet your financial expectations, and a host of memorable lifestyle experiences you can truly call your own. Proof that when you discover your privileges, a new world is ready to welcome you inside.
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F- Credit Cards:
MCB Visa Debit Card: MCB now brings you Visa Debit card Pakistans 1st chip based debit card. It allows the customers to enjoy unmatched

convenience, enhanced security and round-theclock accessibility to their funds. The MCB Visa Debit card offers innovative promotional schemes designed to reward our customers every time they use the card to pay for shopping, dining, fuel, travel etc. Features such as increased withdrawal limits, SMS alerts, door step delivery, instant ATM PIN generation via call center, e- Statements and variable Spending Limits add to the convenience it offers. Customers receive guaranteed PKR 250 Cash Back* when they use the card to make a payment for the 1st time and automatically enter into a draw to win from several 1300 cc cars* MCB Visa Platinum: It is with great pleasure that we welcome you to experience the exciting world of MCB Visa Platinum Credit Card - a world full of surprises waiting to be explored. With our perfect combination of premier features and superior service, the enclosed rewards and recognition offer you the prestige and luxury of a lifestyle you can uniquely call your own.

MCB Visa Platinum Credit Card is the most reliable, competitive and gratifying Credit Card offering a tantalizing mix of luxurious shopping, dining and traveling opportunities which will undoubtedly be a treat for you and your family. It is accepted at nearly 29 million locations in more than 150 countries around the globe and over 30,000 establishments in Pakistan. So make
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the most of a powerful card and expect what you deserve, a liberating experience that redefines the way you spend. Enjoy the influence of your card as you become platinum.

MCB VISA: MCB Visa is not just another card in your wallet. It not only provides the conventional credit card services in a manner that is superior in comparison, but goes an extra mile.

Makes MCB Visa the most affordable credit card in your wallet.

MCB VISA offers you a wide range of products that will cater to your diversified taste perfectly

Buy now and pay later in easy and affordable Saving you from the hassle of making multiple monthly installments! payments on your various credit cards.

You need cash and want to pay back in installments. Just dail 111-000-MCB(622).

Life is too precious to be spoilt by unforeseen events and mishaps.

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How About a credit card that acts like hard cash

Now experience peace of mind of having a credit card free from fraud or misuse!

MCB Cards SMS Facility. Keeping you informed anywhere & everywhere through your cell phone.

MCB Visa Prepaid:

MCB Visa Prepaid Card is aimed at providing convenience and control that will completely change the way you transact. It can be used to withdraw cash, shop and make online payments locally and internationally.

Instant issuance. 24/7 cash accessibility through ATM. Accepted at 29 million outlets. Online shopping with Visa acceptance.
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Private Banking Sector Of Pakistan

Critical Analysis of Private Banking Sector of Pakistan

Pakistan's private banks seem to have made deeper inroads in the saving habits of people as the promising working results published by half of them for last year allayed fears about their commercial viability in a tight liquidity market and a low savings rate. Most of them have completed the first year of their operation successfully, showing profits and in some cases good payouts too. Many financial analysts felt that years to come could be much better if the current pace of growth was maintained. What seem to have impressed them are economics of scale at all levels and an efficient management of the financial affairs. "If the maiden year is any yardstick to the future, they have snatched away their due share with skill and professional efficiency, "says a leading financial analyst. But most of them have transferred big amounts to reserved fund or special reserve funds, a tendency might be good or bad at the same time for a new bank, he added. In some cases they did not share profits with the shareholders but made it a point to transfer certain amounts to the reserve funds. What is important for us is to maintain a strong liquidity position at least for the initial few years as a cushion against high borrowing costs and other allied compulsion of the situation, another banker said and added it was also necessary to meet the central bank's requirements. In the private banking sector of Pakistan two banks have emerged at the top due their differentiated services. United Bank Limited had emerged as a clear leader by introducing the concepts of UBL Omni a branchless banking venture of United Bank Limited which was a unique and innovative concept. Now following in the footsteps of UBL Habib Bank is also planning to launch its own branchless banking network. Habib Bank Limited (HBL) is ready to step into the branchless banking market with its partnership with Ufone, Sybase 365 and Abacus Consulting by 2012. HBLs debut in the branchless banking business will create competition among other established names in the market like Easy Paisa (a joint venture of Telenor Pakistan and Tameer Bank), UBL Omni (a branchless banking venture of United Bank Limited) and Mobilinks branchless banking which is a team-up with Nadras e-sahulat.
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Private Banking Sector Of Pakistan

According to sources, HBL has invested millions of dollars for the marketing of the project as it aims to launch the project on a large scale. HBL claims that their branchless banking solution will introduce more Unique Selling Points (USPs) by enabling customers to pay taxi fares, gas station charges or other similar retail transactions with their mobile phones. HBLs branchless banking will also offer international remittances from mobile phones as well. Azfar Jamal, head of branchless banking at HBL, in a conversation with Pro Pakistani said that Sybase 365 will provide technological infrastructure and software solution for the project, while Ufone will give USSD access and Abacus Consulting will be responsible for the deployment of the project. However, HBLs partnership with Ufone wont be exclusive as they may get other operators on board to expand their market reach. HBL currently operates through a nationwide network of 1500 branches and it plans to get about four-five million of their existing customers for branchless banking solutions. Over the past few years home remittances have been the strongest and most stable economic indicator for the Pakistani economy with remittances reaching more than $11 billion per annum and expected to grow further at a remarkable pace ,says a press release.

UBL has assumed a leading role for facilitating overseas Pakistanis in sending funds to their loved ones in Pakistan with the launch of customized product offerings such as the UBL Tezraftaar account services for Non Resident Pakistanis (NRPs), which allows expatriates to open an account in Pakistan from abroad. UBL is now introducing a unique and pioneering product for the beneficiaries receiving home remittances.

Silk bank Limited has been granted a license by the State Bank of Pakistan (SBP) to commence its Islamic banking operations in Pakistan. It is a result of strong financial growth in their existing conventional banking system that they will venture in establishing a dynamic Islamic banking system replete with cutting-edge products and services. JS Bank has joined hands with JS Investments for a dedicated Distribution Partnership where JS Investments mutual funds will be available at selected branches of JS Bank across the country. This arrangement will provide ease and convenience for the clients who want to invest in JS
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Private Banking Sector Of Pakistan

Investments Mutual Funds and Pension Funds, says a press release. The Distribution Agreement between the two companies was signed by Mr. Kalim-ur-Rahman, the President and CEO of JS Bank and Mr. Rashid Mansur, CEO, JS Investments. Members of the senior management of both organizations were also present at the occasion. While congratulating both the teams at the signing ceremony, Kalim ur Rahman, commented, The coming together of JS Bank and JS Investments in this strategic alliance is a partnership of companies both of whom have a proven track record of performance. Through our partnership with JS Investments, we are now in a position to offer a broader array of investment products to our customers across Pakistan, which we hope to leverage as a key competitive advantage in the days ahead.

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Private Banking Sector Of Pakistan

References

Banking sector in Pakistan by Ansarul Haque http://findarticles.com/p/articles/mi_hb092/is_n9_v24/ai_n28631217/

http://tribune.com.pk/story/293338/hbl-prepares-to-step-into-branchless-banking/ History of banking in Pakistan of humble origins and vast potential By Amna Khalabat Published: November 4, 2011 www.ubl.com.pk www.mcb.com.pk http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/business/27-Mar2012/js-bank-and-js-investments-join-hands

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