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Services marketing- Albaraka bank pakistan
 

Services marketing- Albaraka bank pakistan

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    Services marketing- Albaraka bank pakistan Services marketing- Albaraka bank pakistan Presentation Transcript

    • INTRODUCTION TO ALBARAKA BANKING GROUP • Albaraka Bank Pakistan Limited (ABPL) is a subsidiary of Al Baraka Banking Group (ABG), a Bahrain Joint Stock Company, listed on Bahrain and NASDAQ Dubai stock exchanges. It is a leading International Islamic bank with authorized capital of ABG is US$ 1.5 billion; asset base of US$ 18.4 billion and total equity of US$ 1.9 billion. The group has Banking units and representative offices in 15 countries spanning from Europe to MENA and Asia, with a network exceeding 450 Branches. • With assets in excess of Rs. 70 billion; a workforce of 1400 professionals and a network of more than 99 branches in 42 cities and towns across Pakistan, Al Baraka Bank (Pakistan) Limited is devoted in providing customers with a range of Shariah compliant products to suit their banking needs. 1
    • • Al Baraka Bank (Pakistan) Limited (ABPL) is the result of a merger betweenAl Baraka Islamic Bank Pakistan (AIBP), the branch operations of Al BarakaIslamic Bank (AIB) Bahrain, operative in Pakistan in 1989 and, EmiratesGlobal Islamic Bank (Pakistan). The merged entity commenced operationson November 1st 2010. The merger, a first in the Islamic Banking sector inPakistan, positions ABPL to play an important role in further growing anindustry which has witnessed tremendous growth over the last 5 years.• Moreover, various Shariah compliant deposit schemes are also availablefor customers to invest their funds in, along with a variety of other ancillaryservices such as online branch banking, ATM/debit card, SMS banking,electronic statement of accounts, safe deposit lockers and utility billpayments.• The Pakistan Credit Rating Agency (PACRA) has assigned long-term andshort-term rating entity A, and A1 respectively. These ratings denote a lowerexpectation of credit risk emanating from a strong capacity for timelypayments of financial commitments. It is part of ABPL’s commitment, to putthe customer’s values foremost, hence providing them with a bankingsolution that is in line with their beliefs. 2
    • AL- BARAKA BANKING GROUP (GLOBAL NETWORK) Bahrain• Pakistan• Jordan• Turkey• South Africa• Egypt• Lebanon• Syria• Algeria• Tunisia• Sudan• Indonesia• Libya 3
    • VISION & MISSIONVISION: We believe that society needs a fair and equitable financial system which rewards effort and contributes to the development of the community.MISSION: To meet the financial needs of communities across the world by conducting business ethically in accordance with the Sharia, practicing the highest professional standards and sharing the mutual benefits with the customers, staff and shareholders who participate in our business success. 4
    • CORE VALUES• Partnership: Our shared beliefs create strong bonds that form the basis of long term relationships with customers and staff.• Driven: We have the energy and perservance it will take to make an impact in our customer’s lives and for the greater good of the society.• Neighborly: We value and respect the communities we serve. Our doors are always open; our customers always experience a warm-hearted, hospitable welcome and accommodating service.• Peace of Mind: Our customers are rest assured that their financial interests are being managed by us to the highest ethical standards. 5
    • 7 Ps 6
    • PRODUCT RANGE AL BARAKA’S RANGE OF SERVICES BEING OFFERD INDIVIDUALS RETAIL CORPORATE ENTITIES SMALL MEDIUM ENTERPRISES CONSUMER CATEGORIES 7
    • PRODUCT RANGE• Al Baraka Islamic Bank provides finance to meet all the needs of its business customers for various financing facilities, including the following:• Working Capital Finance: This includes financing the import of goods or the purchase of such goods from the local market as well as other short-term financial services.• Financing of Contracts for Contractors: These facilities are designed for contractors who carry out projects for the government or quasi- governmental bodies.• Project finance: Al Baraka Islamic Bank offers long-term financing for new projects as well as for expanding existing projects in different sectors of the local market.• Trade Finance: These facilities include different modes of finance, documentary letters of credit, letters of guarantee to exporters and importers.• Real Estate Finance: through this product, Al Baraka Islamic Bank grants the necessary funding for the purchase of property, which provides customers with good investment opportunities. 8
    • FREE SERVICES CHEQUE BOOKS ATM CARDS PAY ORDERS DUPLICATE BANK ACCOUNT STATEMENTS HOLD MAIL FACILITY ONLINE BANKING TRANSACTIONS INTERCITY CLEARING SMS BANKING 9
    • DEPOSIT SCHEMES• AL BARAKA MAHANA AMADANI-TERM DEPOSIT• AL BARAKA KHAZANA ACCOUNT• AL BARAKA PLS SAVING ACCOUNT• AL BARAKA CURRENT ACCOUNT• AL BARAKA BASIC BANKING ACCOUNT• AL BARAKA BUISNESS PLUS• AL BARAKA SAFE DEPOSIT LOCKERS• AL BARAKA SARPARAST-FAMILY TAKAFUL PLAN• AL BARAKA RAHNUMA TRAVEL SERVICES 10
    • RECOMMENDATION FOR PRODUCT  ABPL SHOULD INTRODUCE SENIOR CITIZEN’S ACCOUNT WITH BETTER ATTRACTIVE PROFIT RATES.  PROIRITY BANKING FACILITY FOR SENIOR CITIZEN AND SPECIALLY FOR HOUSE HOLD WOMEN.  MOBILE BANKING FACILITIES FOR ALL CUSTOMER BASE.  YOUNG SAVER ACCOUNT FOR CHILDREN UNDER AGE OF 18, WITH THE SPONSORSHIP OF THEIR GUARDIAN.  SPECIALLY DESIGNED ACCOUNT OPENNING FOR DESERVING STUDENTS. 11
    • PRICE ABPL offered different Price strategy governed under various Product segmentation. For every Service offered in the Bank, there are designated Price mechanism under the Bank’s Schedule of Charges. These are placed in front of Bank all Counters and are also available with the Customer Services Department. 12
    • RECOMMENDATIONS FOR PRICE Bank’s schedule of charges may be tailored accordingly with the current Economic Scenario and Customer’s purchasing power considering the present level of Inflation in the country. Secondly, most importantly these Schedule of Charges must be inline with other Bank’s offering. More Competitive pricing strategies must be offered to valued business entities and individual customers. 13
    • PLACE BRANCH BANKING NETWORK ABPL offered its Banking Services in 98 branches fully operational to cater all categories of customers in 40 cities of Pakistan. ATM NETWORK These Cash machines are installed in the premier branches of all the urban cities of Pakistan to cater walk in customer round the clock through out the year. INTERNET BANKING This service offered to all the Corporate Customers for their daily business needs. 14
    • RECOMMENDATIONS FOR PLACE At present, ABPL branch network is being expanded in the major cites of Pakistan which comprises of 40 cities with 99 branches, which must be further penetrated into other populated cities. ATM network which is presently run in the premier branches of the Bank, must not only be installed in all remaining branches of the Bank, rather must be operational in the Malls and Hyper Malls in the urban areas. 15
    • PROMOTIONATLTVRADIOPRINT MEDIAINTERNETBILLBOARDS & STREAMERSBTLEVENTSFLYERS/LEAFLETSPOSTERSPROMOTIONAL ITEMSFREE GIFTSDIRECT MAILING 16
    • RECOMMENDATIONS FOR PROMOTION  ABPL , presently more focusing on to the BTL activities for the promotional campaign and overall improving the bank’s imagine for the customers and prospects.  The Bank must laid down its revised ATL advertising campaign strategy to boost up the Corporate image of the Bank in the business community. 17
    • PEOPLEEMPLOYEES The Bank employees are fully conversant with the Islamic Banking products and services to cater the customer needs at the fullest.MANAGEMENT The ABPL management is dedicated to inculcate and promote the best banking practice and professionalism amongst its employees and the customers.CULTURE Well educated, discipline, responsible and committed to deliver employees.CUSTOMER SERVICE Friendly and courteous services with professionalism is prevailed in the Bank. 18
    • RECOMMENDATIONS FOR PEOPLE  The Management must be well equipped with latest update with respect to customer needs, which must be translated into the effective and efficient training of its staff, resultant in the improved and mature feedback to their customers.  Improved image of the Islamic Bankers must portrayed amongst the staff members 19
    • PROCESS account opening procedure for customers deposit base with sharia’s complaint profit bearing schemes. To cater financial needs for the corporate business entities and individuals customers. All utility bill payments from Bank’s counters. Impex business requirements and its complete solutions. 20
    • RECOMMENDATIONS FOR PROCESS • Refers to systems used to assist the organization in delivering the service. • Aids to the promotion of the customer satisfaction it involves; 1) speeding delivery of service 2) Reducing the paper work 3) Procedure standardization 4) Customization or simplicity 21
    • PHYSICAL ENVIRONMENT• INCLUDES SIGNAGE, REPORTS, PUNCH LINES, EMPLOYEES DRESS CODE AND OTHERS TANGIBLES.• COMPANY REPORTS TO THE CUSTOMERS, CORPORATE IMAGE, LOGOS, BANK NAME BRANDED WRITING PADS, PENS, COLANDERS 22
    • RECOMMENDATIONS FOR PHYSICAL ENVIRNOMENT  More tangible clues in shape of Bank’s location & size along with building space for adequate customers movement for speedy service delivery and customers convenience.  Uniformity in Bank’s Color and exterior façade for all the bank branch network, presenting a complete corporate package in terms of CI. 23
    • AL BARAKA PAKISTAN’s POSITIONING  Al Baraka Bank (Pakistan) Limited and Al Baraka Banking Group are fully committed to develop and promote an integrated Islamic Financial System. Compliance with the rules and principles of Islamic Shariah is the core of the banking and financial activities and its philosophy.  All its banking activities are very closely regulated by a Board of Shariah Advisors based at the Head Office in Bahrain and a Shariah Advisor based in Pakistan, to ensure strict compliance with the highest standards of Islamic Banking principles. 24
    • SEGMENTATION Al Baraka Bank Pakistan deals with Individuals, Firms and Corporate business entities Main focus area of penetration are in these sectors; Industrial sector Services sector Household / consumers sector Real estate business. 25
    • CONCLUSION Political situation Economic situation Introduce new products Positive product prices Improve market instruments Fastest banking Employee satisfaction 26
    • FINAL RECOMENDATION In order to boost up the banking services and image of Islamic Banking in the masses at large, ABPL must develop more integrated , simplified and well define solution services to its existing customer portfolio and prospects. Agriculture financing to be improved These Islamic banking services may be improved by imparting Sharia’h knowledge into its employees firstly through Bank’s appointed Sharia’h Advisors, who are the initiators from the Bank counters. Secondly, arranging more in-house workshops and training to their Bank’s employees, enabling them to Share and learn more Islamic way of transactions for execution and thereafter, to be shared with the customers. Presentations and for customer’s awareness, more Q&A session in the Branches, along with the FAQs are to be practice more frequently in order to give first hand knowledge to customer’s queries and misconceptions which are being aired in our society and public at large, to simplify & clear the ambiguity about the modus operandi for Islamic Banking mode of banking. 27
    • FINAL RECOMENDATION Last but not the least, More aggressive and continuous advertising thru BTL & ATL business strategies to further uplift the brand image of ABPL across Pan Pakistan in line with the Sharia’h Principles and also restoring the customer’s business interest at all times. 28