A Critique of the Proposed National Education Policy Reform
Askari bank pakistan
1.
2. Introduction
Askari Bank Limited opened its doors for Shariah compliant banking
solutions in the year 2006 by establishing a dedicated Islamic Banking
Services Division (IBSD). In a short period of time, Askari Islamic has
grown considerably, and now provides a comprehensive range of
products and services in personal banking, corporate banking, Islamic
treasury, trade services and Banca-Takaful solutions. Our objective is
to put in place an efficient banking system supportive to economic
justice andwelfare of society in line with the Shariah principles.
Askari Islamic serves the banking needs of the valued customers
through its 78 dedicated Islamic Banking branches (including 3 sub-
branches) in the major cities of the country.
3. Assets Liabilities
Consumer Banking: Retail Banking:
Murabaha
Askari Halal Saving and Notice
Account
Diminishing Musharaka for
Commercial Property
Askari Halal US$ Saving Account
Diminishing Musharaka for Plant and
Machinery
Askari Halal Foreign Currency
Aurrent Account
Musharaka
Askari Islamic Investment Certificate
(AIIC)
Ijarah for Machinery and Equipment Askari Khas Islamic Deposit Account
(AKIDA)
Istisna/Parallel Istisna
Askari Islamic Term Quality Deposit
(AITQAD)
Salam/Parallel Salam Askari Hala Certificate of Assan
Monthly Mudaraba (AHCAMM
4. Assets Liabilities
Askari Ijara Bis Sayyarah
Askari Wakala tul Istismar
Askari Home Musharaka Special Musharaka Certificate
AHSAN MASRAFI Certificate of Islamic
Investment
AHSAN MUNAFA ACCOUNT (Askari
Halal Savings and Notice Munafa
Account)
5. Product Name Mode Type of Product Basis for
Pricing
Tenors Target
Customers
Murabaha Murabaha Corporate and
SME
linked with
KIBOR
Working Capital
1 month, Fixed
Assets 1 month
Corporate,
Commercial and
SME
Diminishing
Musharaka for
Commercial
Property
Diminishing
Musharaka
Corporate,
Commercial and
SME
linked with
KIBOR
1-20 Years Corporate,
Commercial and
SME
Diminishing
Musharaka for
Plant and
Machinery
Diminishing
Musharaka
Corporate and
SME
linked with
KIBOR
1-7 Years Corporate,
Commercial and
SME
Musharaka Musharaka Corporate negotiated Pre-
agreed Profit
Sharing Ratios
different for
tiered Profit
Bands.
1-7 Years Real Estate
Developers,
Industrialist etc.
Ijarah for
Machinery and
Equipment
Ijarah Corporate and
SME
Floating rate
linked with
KIBOR
1-7 Years Industrial units,
CNG stations
6. Product Name Mode Type of Product Basis for Pricing Tenors Target Customers
Istisna/Parallel
Istisna
Istisna/Parallel
Istisna
Corporate and
SME
KIBOR 1-7 Years Construction
projects,
manufacturer of
machinery ,etc
Salam/Parallel
Salam
Salam/Parallel
Salam
Corporate, SME,
Agriculture and
Consumer
KIBOR 1 month-1 year Corporate, SME,
Agriculture and
Consumer
Askari Ijara Bis
Sayyarah
Ijarah Consumer Fixed rate for 3 to
5 years, initial
period fixed upto 1
year, variable
thereafter using
KIBOR
3-5 years Individuals
Askari Home
Musharaka
Diminishing
Musharaka/Istisna
Consumer Fixed for initial 1
year, variable
thereafter using
KIBOR
1-20 years Individuals
7. Product Name Mode Type of Product Tenors Profit Calculation Target Customers
Askari Halal
Saving and Notice
Account (AHSAN)
Mudaraba Saving NA Average Monthly Business
Enterprises and
Individuals
Askari Halal
Saving Account
Mudarabah Saving NA Profit will be
payable on
minimum monthly
balance from 6th
till last date of
each month.
Business
Enterprises and
Individuals
Askari Islamic
Current Account
Qard Current NA NA Business
Enterprises
Askari Basis
Banking Account
Qard Current NA NA Low income
individuals
Ahsan Masrafi Mudaraba Saving NA Daily Product
Basis
Islamic Financial
Institutions
Askari Halal US$
Saving Account
Mudarabah Saving NA Average Monthly Business
Enterprises,
Individuals
Askari Halal
Foreign Currency
Aurrent Account
Qard Current NA NA Busines
Enterprises,
Individuals
8. Product Name Mode Type of Product Basis for Pricing Tenors Target Customers
Askari Islamic
Investment
Certificate (AIIC)
Mudaraba Term 3 month-5 years Monthly Individuals,
business
enterprises,
Government
Entities
Askari Khas
Islamic Deposit
Account (AKIDA)
Mudaraba Term 3 month-5 years Monthly Individuals,
business
enterprises,
Government
Entities
Askari Islamic
Term Quality
Deposit
(AITQAD)
Mudaraba Term 3-7 years Monthly Provident funds,
Pensions Funds
and Individuals
Askari Hala
Certificate of
Assan Monthly
Mudaraba
(AHCAMM)
Mudaraba Term 1 months-No limit Average Monthly Individuals
Askari Wakala tul
Istismar
Wakala Term NA At maturity or as
agreed with the
client
Large size deposits
Special Musharaka
Certificate
Musharaka Term 6 months Average Monthly Large size deposits
9. Product Name Mode Type of Product Basis for Pricing Tenors Target Customers
AHSAN
MASRAFI
Certificate of
Islamic Investment
Mudaraba Certificate of
Investment (For
IFIs)
One Week-1 year Weekly, two
weeks, Monthly
Islamic Financial
Institutions(IFIs)
AHSAN
MUNAFA
ACCOUNT
(Askari Halal
Savings and Notice
Munafa Account)
Mudarabah Saving(Daily
Product Account)
N/A On Daily Product
Basis
High net-worth
individuals,
corporate and
government
account, gratuity,
provident and
pension funds, etc