Khushhali Bank is the Pakistani government first major government initiative to bridge the demand for microfinance services. The bank operates on a community-based service delivery mechanism and forms client clusters to reduce transactional costs
I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
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Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
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The State Bank of Pakistan (SBP) is the central bank of Pakistan. It was established in 1947 after the partition of India. SBP is responsible for monetary policy, managing foreign exchange reserves, supervising commercial banks, and providing banking services to the government. As an independent institution since 1997, SBP aims to achieve price stability and full employment through tools like interest rates, cash reserve ratios, and open market operations. It also regulates the financial system, acts as the lender of last resort, and advises the government on economic and financial matters.
Internship report on_meezan_bank_ltd. actual 2014Ali Shah
The document provides a 3-page internship report on Meezan Bank Limited. It includes sections on the history of banking, Islamic banking, and Meezan Bank. It discusses Meezan Bank's mission, products/services, departments, and SWOT analysis. The report aims to provide a brief study of Meezan Bank's operations, functions, and Islamic banking products and services.
This internship report summarizes Ghazala Khan's internship at the National Bank of Pakistan's Aslam Market branch. It includes sections on the background, history, vision, mission, organizational structure, and products of NBP. Ghazala conducted the internship from July 30th to September 8th 2018 under the supervision of Noshaba Zulfiqar to fulfill the requirements for her Bachelor's degree in Business Administration from the University of Wah. The report contains analyses of NBP's financial statements from 2014-2018 and a SWOT analysis of the organization. It concludes with findings and recommendations to improve NBP based on Ghazala's observations and knowledge gained during the internship.
Financial markets and institutions of pakistanfawadahmed055
This document provides an overview of the financial markets and institutions of Pakistan. It defines financial markets as any marketplace where buyers and sellers trade assets like equities, bonds, and currencies. Financial institutions are establishments that deal with financial transactions like investments, loans, and deposits. The document then outlines Pakistan's banking sector, non-banking sector, and regulatory authorities. It concludes with a discussion of key financial dynamics like interest rates, inflation, and taxation as well as financial barriers such as coordination issues, corruption, terrorism, market barriers, and a devalued currency.
This document provides an internship report submitted by Zaka Ul Hassan to fulfill the requirements for a Bachelor of Business Administration degree from COMSATS Institute of Information Technology, Abbottabad. The report details Hassan's internship at the ZONG Customer Service Center in Abbottabad, Pakistan from October to December 2011. It includes an introduction to ZONG, the telecom sector in Pakistan, and China Mobile Communications Corporation. It then discusses ZONG's products, services, business operations, sales and marketing strategies, and a SWOT and PEST analysis of the company. The report aims to analyze ZONG's performance and position in the competitive Pakistani telecom market.
This document provides a financial analysis of Meezan Bank. It begins with an acknowledgement and introduces the project and team. It then provides an introduction to Meezan Bank, outlining its history and operations. The document discusses Meezan Bank's vision, mission, products and services. It also includes a SWOT analysis and discusses various ratios used in specialized financial analysis of banks, such as earning assets to total assets and loans loss coverage ratio. The document aims to analyze Meezan Bank's financial performance and position.
I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
Linkedin: arguni_hasnain
Instagram : arguni.hasnain
Facebook: arguni.hasnain
The State Bank of Pakistan (SBP) is the central bank of Pakistan. It was established in 1947 after the partition of India. SBP is responsible for monetary policy, managing foreign exchange reserves, supervising commercial banks, and providing banking services to the government. As an independent institution since 1997, SBP aims to achieve price stability and full employment through tools like interest rates, cash reserve ratios, and open market operations. It also regulates the financial system, acts as the lender of last resort, and advises the government on economic and financial matters.
Internship report on_meezan_bank_ltd. actual 2014Ali Shah
The document provides a 3-page internship report on Meezan Bank Limited. It includes sections on the history of banking, Islamic banking, and Meezan Bank. It discusses Meezan Bank's mission, products/services, departments, and SWOT analysis. The report aims to provide a brief study of Meezan Bank's operations, functions, and Islamic banking products and services.
This internship report summarizes Ghazala Khan's internship at the National Bank of Pakistan's Aslam Market branch. It includes sections on the background, history, vision, mission, organizational structure, and products of NBP. Ghazala conducted the internship from July 30th to September 8th 2018 under the supervision of Noshaba Zulfiqar to fulfill the requirements for her Bachelor's degree in Business Administration from the University of Wah. The report contains analyses of NBP's financial statements from 2014-2018 and a SWOT analysis of the organization. It concludes with findings and recommendations to improve NBP based on Ghazala's observations and knowledge gained during the internship.
Financial markets and institutions of pakistanfawadahmed055
This document provides an overview of the financial markets and institutions of Pakistan. It defines financial markets as any marketplace where buyers and sellers trade assets like equities, bonds, and currencies. Financial institutions are establishments that deal with financial transactions like investments, loans, and deposits. The document then outlines Pakistan's banking sector, non-banking sector, and regulatory authorities. It concludes with a discussion of key financial dynamics like interest rates, inflation, and taxation as well as financial barriers such as coordination issues, corruption, terrorism, market barriers, and a devalued currency.
This document provides an internship report submitted by Zaka Ul Hassan to fulfill the requirements for a Bachelor of Business Administration degree from COMSATS Institute of Information Technology, Abbottabad. The report details Hassan's internship at the ZONG Customer Service Center in Abbottabad, Pakistan from October to December 2011. It includes an introduction to ZONG, the telecom sector in Pakistan, and China Mobile Communications Corporation. It then discusses ZONG's products, services, business operations, sales and marketing strategies, and a SWOT and PEST analysis of the company. The report aims to analyze ZONG's performance and position in the competitive Pakistani telecom market.
This document provides a financial analysis of Meezan Bank. It begins with an acknowledgement and introduces the project and team. It then provides an introduction to Meezan Bank, outlining its history and operations. The document discusses Meezan Bank's vision, mission, products and services. It also includes a SWOT analysis and discusses various ratios used in specialized financial analysis of banks, such as earning assets to total assets and loans loss coverage ratio. The document aims to analyze Meezan Bank's financial performance and position.
Acomplete survey of khushhali bank,the first microfinance bank in pakistan, its investment in different sectors for the development of the economic conditions of pakistan, credit lines and the product it offers for its customers
The National Bank of Pakistan was established in 1949 under the National Bank of Pakistan Ordinance to act as the central bank where the State Bank of Pakistan did not have a presence. It was initially fully government-owned and handled treasury operations for the government. The bank was incorporated after the partition of India and Pakistan in 1947, when most commercial banks retreated from Pakistan due to the migration of non-Muslims to India, leaving a gap in the banking system. It has since diversified and expanded its services while still maintaining government operations.
The document is an internship report authored by Abdullah Javed summarizing his 3 month internship at the Bank of Punjab Cavalry Ground Branch. It provides an overview of the banking system in Pakistan and the Bank of Punjab specifically. It describes the bank's vision, mission, core values and product lines which include deposit products, consumer and commercial financing, agriculture credit, trade finance and electronic banking services. The report was written to fulfill the requirements for Abdullah Javed's internship as part of his ACCA coursework.
Meezan Bank is Pakistan's largest Islamic bank with over 130 branches. It was established in 1997 as an Islamic investment bank and received Pakistan's first full-fledged Islamic banking license in 2002. Meezan Bank aims to establish Islamic banking as the first choice and facilitate an equitable economic system. Their products include interest-free accounts, certificates of investment, car and home financing that comply with Shariah principles. Meezan Bank has a wide range of personal, corporate, and investment services and plans to expand further in Pakistan and abroad.
The State Bank of Pakistan is the central bank of Pakistan. It was established in 1948 with headquarters in Karachi. The Governor leads the bank and is responsible for monetary policy, regulating banks and other financial institutions, and advising the government on economic matters. In addition to traditional central banking functions like being the banker to the government and banks, the State Bank promotes agriculture, Islamic banking, manages foreign exchange reserves, and participates in national development.
National Bank of Pakistan was established in 1949 to cope with economic crisis after trade issues with India. It commenced operations financing the jute trade and crop. Today it has over 1,450 branches across Pakistan and 21 international branches. As the largest bank in Pakistan, it plays a vital role in developing the agriculture sector and financing trade, while also handling treasury transactions for the government.
- The document is an internship report prepared by Abdullah Baig about his 8-week internship at the National Bank of Pakistan in Quetta.
- It provides information about the bank's history and operations, including its vision, mission, branch network, organizational structure, and the departments Abdullah worked in such as pensions, account opening, clearance, and remittances.
- The report also includes a SWOT analysis and conclusions from Abdullah's experience at the bank during his internship.
The State Bank of Pakistan (SBP) is the central bank of Pakistan. It was established in 1948 and is headquartered in Karachi, with a second headquarters in Islamabad. As the central bank, the SBP regulates the banking sector, conducts monetary policy, and oversees financial stability in Pakistan. It uses both direct instruments like reserve requirements and interest rate controls, as well as indirect instruments like open market operations and treasury bill auctions to influence monetary conditions and achieve its policy objectives. The SBP also works to develop the financial system and promote priority sectors in Pakistan.
The document provides an academic report on the State Bank of Pakistan (SBP). It discusses the bank's history, vision, mission, core values and goals. It outlines the organizational structure and key departments, including Deposit Accounts, Currency Management, Prize Bond and Saving Certificate, Internal Monitoring, Public Accounts, and General Services. It also includes a SWOT analysis and recommendations to strengthen areas like technology, online data usage, and customer service. The report serves to educate about Pakistan's central bank and its various operations.
The document provides information about the Industrial Development Bank of Pakistan (IDBP), including:
1) IDBP was established in 1961 as Pakistan's oldest development financing institution, with the primary objective of extending term finance to the manufacturing sector. Over time it has also supported small and medium enterprises.
2) It is wholly owned by Pakistani government entities, with paid up capital of 500 million Pakistani rupees.
3) IDBP's functions include development banking, commercial banking, merchant banking, bill collection, and equity investment. It provides various financing and deposit schemes.
This project decribes about the islamic financing techniques that are used by Bank Islami Pakistan. general islamic financing techniques include morabaha, musharaka, ijara and various techniques provided by this bank. i hope you will like this presentation.
The document provides an internship report on Habib Bank Limited (HBL). It includes an acknowledgement, table of contents, executive summary, and sections on the history of banking in Pakistan and HBL. The executive summary highlights that HBL was the first commercial bank established in Pakistan in 1947 and has grown to over 1,450 branches. It also discusses HBL's mission, vision, values, board of directors, management structure, operations, products/services, and the intern's learnings. SWOT analysis identifies HBL's strengths as its long history, large size and branch network, and high level of public trust in Pakistan.
The document provides an overview of the internship report submitted by Muhammad Irfan Iqbal to Sir Azhar Sheikh for his internship at The Bank of Punjab in Hasilpur, Punjab, Pakistan. It includes details of the internship such as the departments and activities Irfan worked in, including account opening, checking vouchers, and issuing cheque books. It also provides a brief history of The Bank of Punjab and outlines its organizational structure, services, and departments.
The document provides information about Zarai Taraqiati Bank Limited (ZTBL), which was previously known as the Agricultural Development Bank of Pakistan. It discusses ZTBL's history, mission, vision, objectives, organizational structure, products/services, and subsidiaries. Key points include that ZTBL is Pakistan's largest agricultural bank, it aims to provide financial services and technical assistance to farmers, and one of its subsidiaries is Kissan Support Services Limited which handles non-core activities like security and sports.
FINANCIAL INCLUSION THROUGH BUSINESS CORRESPONDENT MODELIAEME Publication
In recent years, India has witnessed a high rate of economic growth, which has resulted in greater personal wealth for many Indians. However, a majority section of the society is still financially uncovered, meaning it does not have access to formal financial institutions. In light of recent research that shows a strong correlation between financial exclusion and poverty and inequality, the Indian government has made financial inclusion an integral part of its planning strategy. The spreading of banking network to the vast rural areas of the country at an affordable cost remains as a challenge to all those who are involved. In India, an effort has been made to achieve financial inclusion by using information and communication technology through a Business Correspondent model.
National bank of Pakistan (nbp) swot analysisiqra ishfaq
The document analyzes the SWOT of National Bank of Pakistan. Some key strengths include being the first nationalized commercial bank, having a large branch network of over 1200 domestic and 22 overseas branches, and providing services like ATMs, online banking, and acting as an agent for the state bank. Weaknesses include less computerization, uneven work distribution, and favoritism in recruitment. Opportunities lie in growing the banking system through technology adoption. Threats include new competitors providing better services, customer dissatisfaction, outdated systems, and political pressure.
The document provides information about Bank of Punjab (BOP), a scheduled commercial bank in Pakistan. It was established in 1989 and has 284 branches across the country. BOP mobilizes local resources, promotes savings, and provides investment funds. It aims to be a customer-focused bank with service excellence. BOP offers various banking services including deposits, loans, remittances and bill payments. It has a subsidiary called BOP First Punjab Modaraba. The document discusses BOP's organizational structure, products and services, financial performance and future prospects. It conducts a PEST analysis and concludes that BOP has a high market share due to its focus on excellent customer service.
Moringa oleifera, commonly known as drumstick tree or horseradish tree, is native to northern India and cultivated worldwide for its nutritional and medicinal uses. It is a small, fast-growing tree that produces edible seed pods, leaves, flowers, and roots. The tree is drought tolerant and adaptable to many soil types, making it well-suited for cultivation in dry, tropical areas. It is typically propagated through seed germination or stem cuttings and grows rapidly, with some varieties producing pods within the first year.
This document provides an overview of microfinance in India. It defines microfinance as the provision of financial services to low-income populations who lack access to mainstream services. Microfinance includes small loans, savings, insurance, and money transfers. Key aspects of microfinance in India discussed include the evolution of the industry, types of microfinance institutions such as self-help groups and joint liability groups, and channels for delivering microfinance services such as the SHG-Bank linkage model.
Acomplete survey of khushhali bank,the first microfinance bank in pakistan, its investment in different sectors for the development of the economic conditions of pakistan, credit lines and the product it offers for its customers
The National Bank of Pakistan was established in 1949 under the National Bank of Pakistan Ordinance to act as the central bank where the State Bank of Pakistan did not have a presence. It was initially fully government-owned and handled treasury operations for the government. The bank was incorporated after the partition of India and Pakistan in 1947, when most commercial banks retreated from Pakistan due to the migration of non-Muslims to India, leaving a gap in the banking system. It has since diversified and expanded its services while still maintaining government operations.
The document is an internship report authored by Abdullah Javed summarizing his 3 month internship at the Bank of Punjab Cavalry Ground Branch. It provides an overview of the banking system in Pakistan and the Bank of Punjab specifically. It describes the bank's vision, mission, core values and product lines which include deposit products, consumer and commercial financing, agriculture credit, trade finance and electronic banking services. The report was written to fulfill the requirements for Abdullah Javed's internship as part of his ACCA coursework.
Meezan Bank is Pakistan's largest Islamic bank with over 130 branches. It was established in 1997 as an Islamic investment bank and received Pakistan's first full-fledged Islamic banking license in 2002. Meezan Bank aims to establish Islamic banking as the first choice and facilitate an equitable economic system. Their products include interest-free accounts, certificates of investment, car and home financing that comply with Shariah principles. Meezan Bank has a wide range of personal, corporate, and investment services and plans to expand further in Pakistan and abroad.
The State Bank of Pakistan is the central bank of Pakistan. It was established in 1948 with headquarters in Karachi. The Governor leads the bank and is responsible for monetary policy, regulating banks and other financial institutions, and advising the government on economic matters. In addition to traditional central banking functions like being the banker to the government and banks, the State Bank promotes agriculture, Islamic banking, manages foreign exchange reserves, and participates in national development.
National Bank of Pakistan was established in 1949 to cope with economic crisis after trade issues with India. It commenced operations financing the jute trade and crop. Today it has over 1,450 branches across Pakistan and 21 international branches. As the largest bank in Pakistan, it plays a vital role in developing the agriculture sector and financing trade, while also handling treasury transactions for the government.
- The document is an internship report prepared by Abdullah Baig about his 8-week internship at the National Bank of Pakistan in Quetta.
- It provides information about the bank's history and operations, including its vision, mission, branch network, organizational structure, and the departments Abdullah worked in such as pensions, account opening, clearance, and remittances.
- The report also includes a SWOT analysis and conclusions from Abdullah's experience at the bank during his internship.
The State Bank of Pakistan (SBP) is the central bank of Pakistan. It was established in 1948 and is headquartered in Karachi, with a second headquarters in Islamabad. As the central bank, the SBP regulates the banking sector, conducts monetary policy, and oversees financial stability in Pakistan. It uses both direct instruments like reserve requirements and interest rate controls, as well as indirect instruments like open market operations and treasury bill auctions to influence monetary conditions and achieve its policy objectives. The SBP also works to develop the financial system and promote priority sectors in Pakistan.
The document provides an academic report on the State Bank of Pakistan (SBP). It discusses the bank's history, vision, mission, core values and goals. It outlines the organizational structure and key departments, including Deposit Accounts, Currency Management, Prize Bond and Saving Certificate, Internal Monitoring, Public Accounts, and General Services. It also includes a SWOT analysis and recommendations to strengthen areas like technology, online data usage, and customer service. The report serves to educate about Pakistan's central bank and its various operations.
The document provides information about the Industrial Development Bank of Pakistan (IDBP), including:
1) IDBP was established in 1961 as Pakistan's oldest development financing institution, with the primary objective of extending term finance to the manufacturing sector. Over time it has also supported small and medium enterprises.
2) It is wholly owned by Pakistani government entities, with paid up capital of 500 million Pakistani rupees.
3) IDBP's functions include development banking, commercial banking, merchant banking, bill collection, and equity investment. It provides various financing and deposit schemes.
This project decribes about the islamic financing techniques that are used by Bank Islami Pakistan. general islamic financing techniques include morabaha, musharaka, ijara and various techniques provided by this bank. i hope you will like this presentation.
The document provides an internship report on Habib Bank Limited (HBL). It includes an acknowledgement, table of contents, executive summary, and sections on the history of banking in Pakistan and HBL. The executive summary highlights that HBL was the first commercial bank established in Pakistan in 1947 and has grown to over 1,450 branches. It also discusses HBL's mission, vision, values, board of directors, management structure, operations, products/services, and the intern's learnings. SWOT analysis identifies HBL's strengths as its long history, large size and branch network, and high level of public trust in Pakistan.
The document provides an overview of the internship report submitted by Muhammad Irfan Iqbal to Sir Azhar Sheikh for his internship at The Bank of Punjab in Hasilpur, Punjab, Pakistan. It includes details of the internship such as the departments and activities Irfan worked in, including account opening, checking vouchers, and issuing cheque books. It also provides a brief history of The Bank of Punjab and outlines its organizational structure, services, and departments.
The document provides information about Zarai Taraqiati Bank Limited (ZTBL), which was previously known as the Agricultural Development Bank of Pakistan. It discusses ZTBL's history, mission, vision, objectives, organizational structure, products/services, and subsidiaries. Key points include that ZTBL is Pakistan's largest agricultural bank, it aims to provide financial services and technical assistance to farmers, and one of its subsidiaries is Kissan Support Services Limited which handles non-core activities like security and sports.
FINANCIAL INCLUSION THROUGH BUSINESS CORRESPONDENT MODELIAEME Publication
In recent years, India has witnessed a high rate of economic growth, which has resulted in greater personal wealth for many Indians. However, a majority section of the society is still financially uncovered, meaning it does not have access to formal financial institutions. In light of recent research that shows a strong correlation between financial exclusion and poverty and inequality, the Indian government has made financial inclusion an integral part of its planning strategy. The spreading of banking network to the vast rural areas of the country at an affordable cost remains as a challenge to all those who are involved. In India, an effort has been made to achieve financial inclusion by using information and communication technology through a Business Correspondent model.
National bank of Pakistan (nbp) swot analysisiqra ishfaq
The document analyzes the SWOT of National Bank of Pakistan. Some key strengths include being the first nationalized commercial bank, having a large branch network of over 1200 domestic and 22 overseas branches, and providing services like ATMs, online banking, and acting as an agent for the state bank. Weaknesses include less computerization, uneven work distribution, and favoritism in recruitment. Opportunities lie in growing the banking system through technology adoption. Threats include new competitors providing better services, customer dissatisfaction, outdated systems, and political pressure.
The document provides information about Bank of Punjab (BOP), a scheduled commercial bank in Pakistan. It was established in 1989 and has 284 branches across the country. BOP mobilizes local resources, promotes savings, and provides investment funds. It aims to be a customer-focused bank with service excellence. BOP offers various banking services including deposits, loans, remittances and bill payments. It has a subsidiary called BOP First Punjab Modaraba. The document discusses BOP's organizational structure, products and services, financial performance and future prospects. It conducts a PEST analysis and concludes that BOP has a high market share due to its focus on excellent customer service.
Moringa oleifera, commonly known as drumstick tree or horseradish tree, is native to northern India and cultivated worldwide for its nutritional and medicinal uses. It is a small, fast-growing tree that produces edible seed pods, leaves, flowers, and roots. The tree is drought tolerant and adaptable to many soil types, making it well-suited for cultivation in dry, tropical areas. It is typically propagated through seed germination or stem cuttings and grows rapidly, with some varieties producing pods within the first year.
This document provides an overview of microfinance in India. It defines microfinance as the provision of financial services to low-income populations who lack access to mainstream services. Microfinance includes small loans, savings, insurance, and money transfers. Key aspects of microfinance in India discussed include the evolution of the industry, types of microfinance institutions such as self-help groups and joint liability groups, and channels for delivering microfinance services such as the SHG-Bank linkage model.
This document provides basic information about Seedvest Microfinance Bank Limited, including its physical addresses, contact information, ownership structure, and business description. Seedvest is a microfinance bank located in Ibadan, Nigeria that provides financing and savings services, with a goal of being the best MFB in Nigeria. It currently has over 29,000 deposit customers and has granted over 23,000 loans totaling 1.74 billion Naira since inception. The market for microfinance in Ibadan and Oyo State is large as most residents do not have access to financial services. Seedvest aims to fill this need and help improve lives through microfinance activities.
Este documento establece las normas del Codex Alimentarius para 19 aceites vegetales comestibles especificados. Define cada aceite y sus características, incluyendo composición de ácidos grasos, aditivos permitidos, contaminantes máximos y requisitos de higiene. El propósito es garantizar la calidad y seguridad de estos aceites para el consumo humano.
Biofuels policy, implications for food security and for the environmentNuno Quental
This document discusses biofuels policy and its implications for food security and the environment. It finds that while biofuels production is increasing rapidly, it is still limited mostly to first generation biofuels from food crops. This contributes to increasing and volatile food prices, threatening global food security. Advanced biofuels from non-food sources are being researched but have not been widely commercialized. The document recommends policies that incentivize biofuels in a way that does not compromise food security or the environment.
The document outlines the key requirements and important dates for the NS2 Biology portion, including two examinations, a group project, and other assignments. Students are divided into plant and animal project groups. The lectures will cover the introduction to homeostasis for the first examination. Key theories on the origin of life are also summarized, such as the biochemical theory, theory of spontaneous generation, interplanetary theory, and theory of special creation. Finally, the characteristics of life are defined as organization, metabolism, reproduction, growth and development, response to stimuli, and adaptation.
The document provides information about Royalè Business Club International, Inc. (RBCII), a Filipino-owned corporation established in 2006 in Quezon City, Philippines. RBCII aims to help ordinary people become entrepreneurs through franchising various business options and distributing food supplements, beverages, cosmetics, and micro-franchise opportunities. The document outlines RBCII's legal registrations, locations, management team, product lines, and vision to be the leading provider of business and micro-franchise opportunities worldwide.
Brotherhood in Islam refers to treating all people like brothers through equal treatment without distinction. The document outlines three circles of brotherhood - kinship, universal human brotherhood, and brotherhood in faith. It emphasizes the importance of brotherhood in Islamic teachings and practices. Brotherhood was a force for good historically that provided stability, justice, and freedom for oppressed people. However, modern developments have impaired brotherhood by destroying the unified Islamic community and prioritizing national interests over universal brotherhood. The document provides economic guidelines centered around assisting the weak and avoiding harming others.
This document summarizes the ingredients and benefits of the supplement C24/7. It contains over 22,000 antioxidants and phytonutrients from sources like fruits, vegetables, mushrooms, herbs, enzymes, amino acids, and vitamins/minerals. All ingredients work synergistically and use nano-technology for optimal absorption. The supplement aims to provide whole-body protection, nourishment, and support through its comprehensive formula.
A young infant presented with persistent vomiting and failure to thrive. Imaging showed malrotation of the gut with the superior mesenteric vein lying superior and lateral to the superior mesenteric artery. Further imaging found gastric volvulus, which was corrected surgically. Gastric volvulus can be primary due to laxity of ligaments, or secondary to anatomical abnormalities, and presents as epigastric pain, vomiting, and inability to pass a tube into the stomach.
Este documento presenta un análisis del mercado suizo para la chía peruana. Resume la legislación y requisitos de importación, los canales de distribución, precios minoristas y presentaciones comunes. Explica las oportunidades que ofrecen las preferencias de los consumidores suizos por productos saludables y orgánicos. Finalmente, presenta estadísticas sobre las importaciones suizas de chía y el crecimiento reciente de las exportaciones peruanas a este mercado.
La Región Ica se encuentra en el centro de Perú. Es el principal productor de pisco y cuenta con industrias vitivinícolas, textiles y curtidurías. Limita con Lima, Arequipa, Ayacucho y Huancavelica. Cuenta con tres ejes de integración regional importantes como la Carretera Panamericana Sur y las rutas hacia Cusco y Nazca.
Milkfish are commonly farmed in the Philippines using extensive and intensive pond culture as well as cage and pen culture. Common practices include breeding milkfish in hatcheries and raising fry in nurseries before stocking ponds or cages. Farmers closely monitor water quality, feed milkfish formulated diets multiple times per day, and harvest fish using methods to minimize stress and losses. Milkfish production in the Philippines relies on these culture techniques across different systems.
Here are the results of the experiment:
1. The chicken bone in the empty jar could not be bent.
2. The chicken bone in water could still not be bent.
3. The chicken bone in vinegar could easily be bent.
The vinegar dissolved the minerals like calcium from the chicken bone, making it soft and easy to bend. This shows that without minerals like calcium, bones lose their hardness and strength.
The experiment demonstrates what happens when bones lose their mineral content - they become soft and can be easily bent or broken. The vinegar mimics the process of demineralization by dissolving the calcium from the bone.
Microfinance aims to provide financial services like credit, savings, insurance and money transfers to low-income households and micro-entrepreneurs. It is delivered by microfinance institutions (MFIs) through small loans with group lending. Shortcomings include overdependence on donors, high interest rates, lack of regulations and difficulty reaching remote areas. The State Bank of Pakistan has launched various initiatives like credit guarantee facilities, funding programs and partnerships to strengthen the microfinance sector and promote financial inclusion.
The document summarizes microfinance as small loans provided to low-income individuals who lack access to traditional banking. It discusses the history and philosophy of microfinance, how it works through peer lending circles, and its growth centers globally. Key risks for microfinance investors include foreign exchange risk, difficulty assessing credit risk for many small borrowers, and potential volatility. The document also analyzes financial performance and growth metrics for microfinance institutions.
15 grade 7 art -tg qtr 4 - module 8, les 2 festivalsS Marley
This document provides information about Philippine festivals that are taught in the 7th grade art curriculum. It discusses several major festivals celebrated in different parts of the Philippines, including Ati-atihan, Pahiyas, Panagbenga, Sinulog, Dinagyang, Maskara, and Kadayawan. Students are tasked with researching festivals, creating masks and costumes representing one of the festivals, and reenacting a selected festival through decorating a classroom area and performing for other classes. The goal is for students to appreciate the cultural significance of festivals in strengthening community bonds and pride in local traditions.
This documentation have all the details about school management system, even in this document have DFD,ERD,FDD digram that are useful to create database. to get more details about this product plz mail me on (aki_string@yahoo.co.in) thanks.....
The First Microfinance Bank Ltd Pakistan (FMFB-P) was established in 2002 as a nationwide microfinance bank licensed by the State Bank of Pakistan. It was created through the transformation of the credit and savings programs of the Aga Khan Rural Support Program, which began microfinance efforts in Pakistan in 1982. FMFB-P operates through a network of 137 outlets across Pakistan, serving over 1.3 million borrowers with loans totaling $28.6 billion. It aims to alleviate poverty through sustainable economic development and financial inclusion, especially for women and in rural areas.
This document provides an internship report submitted by Adeel Ahmed Shakree to the Chairman of the Department of Business Administration at Allama Iqbal Open University. The report details Adeel's internship at The First MicroFinance Bank Ltd, including an acknowledgements section, table of contents, and sections on the bank's history, nature, business volume, product lines, departments, management roles, funds management, data analysis, competitors, and recommendations. The document provides a high-level overview of Adeel's internship project and report for the bank.
This document is a report submitted by Waseem Ahmed Sandeelo for his Business Communication course at Shah Abdul Latif University Khairpur. It discusses the history and functions of the State Bank of Pakistan. The State Bank was established in 1948 and serves as Pakistan's central bank. It is responsible for monetary policy, banking regulation, and other functions like managing currency and the government's finances. The report provides details on the State Bank's departments, leadership structure including the Governor and Central Board of Directors, and its roles in maintaining price stability, conducting monetary policy, and supporting banking and economic development in Pakistan.
This presentation provides information on NABARD (National Bank for Agriculture and Rural Development) and SIDBI (Small Industries Development Bank of India). It discusses the establishment of NABARD in 1982 and its mission to extend financial services to 100 million rural poor through self-help groups. It also outlines SIDBI's role since 1989 in providing refinancing and other support to micro, small and medium enterprises. The key functions and services of each institution are described, including refinancing loans, promoting institutional development, and offering schemes and programs to support entrepreneurs and skill development.
This presentation will give a brief review about the micro finance and make it easier to understand the growth and performance of this sector in Pakistan
The document provides information on the history of banking in Pakistan. It discusses the establishment of commercial banks after independence in 1947 and the nationalization of banks in 1974 under Bhutto. 14 commercial banks were merged into 5 larger banks under the nationalization. The nationalization aimed to more evenly distribute wealth and reduce unhealthy competition. Banks were later privatized beginning in 1991 under Nawaz Sharif to promote free market principles. The document also outlines the role of the State Bank of Pakistan and Pakistan Banking Council in regulating banks and coordinating the banking industry.
The document outlines the brand identity development process for Apna Microfinance Bank Limited (AMBL), including gathering requirements, studying competition, and developing an identity. It details AMBL's vision, mission, objectives, and philosophy of empowering customers and alleviating poverty. Requirements include providing microfinance and infrastructure in rural and urban areas. Competition includes other microfinance organizations and established banks. Several potential logos are presented that aim to depict growth, passion, and approachability while differentiating AMBL and appearing modern.
This document discusses the role of microcredit in poverty alleviation. It provides an overview of microcredit programs in Pakistan, including rural support programs like the Aga Khan Rural Support Programme and microfinance institutions. It finds that microcredit helps reduce poverty by providing the poor access to credit to start small businesses, which supports economic conditions and empowerment. While the full impact in Pakistan is still being evaluated, global studies have found microcredit significantly reduces poverty for many who participate in microcredit programs.
Nabard & its innovative function in promoting ruralSumit Kulkarni
NABARD was established in 1982 as an apex development bank in India to facilitate credit flow to rural areas for promoting agriculture and rural development. It provides refinancing support and training to rural financial institutions. Some of NABARD's innovative functions include the EShakti project for digitizing self-help groups, the Rural Innovation Fund to support unconventional rural livelihood projects, and an action research project providing repeated microcredit to help rural households move out of poverty.
AMBL Identity Development Pitch PresentationWasim Sajid
The document outlines the brand identity development process for Apna Microfinance Bank Limited (AMBL), including gathering requirements, studying the competition, and developing the brand identity and logos. It details AMBL's vision, mission, objectives, and philosophy of empowering customers and alleviating poverty. It also analyzes competitors in the microfinance industry and considers AMBL's strengths, weaknesses, opportunities, and threats. Finally, it proposes four logo design concepts that aim to represent AMBL's values through color symbolism and graphical elements while differentiating the brand visually.
This internship report provides an overview of BRAC Bank Limited's SME Banking Division. It discusses BRAC Bank's history and growth, including establishing over 300 SME unit offices across Bangladesh. The report also outlines some of BRAC Bank's major products and services, with a focus on its wide range of retail and SME loan offerings. Challenges facing BRAC Bank's SME division are analyzed, such as high interest rates, defaulter rates, and risks associated with the SME sector. The report provides insights into BRAC Bank's efforts to reduce credit risk and deal with defaulters through strict loan approval processes and a specialized recovery wing.
This document discusses SME financing in Bangladesh. It begins with an introduction to microcredit and SMEs, noting their importance for economic development and job creation. It then provides definitions for small and medium enterprises.
The bulk of the document discusses steps taken by Bangladesh Bank to promote SME financing, including refinance schemes, dedicated desks in banks, and targets for SME loan disbursement. Special arrangements are outlined for women entrepreneurs, including allocating 15% of refinance funds for women and interest rates not exceeding 10% for women borrowers.
Potential sectors for SMEs in Bangladesh are also listed, including agro-based industries, fishing, IT, clothing, and retail.
The document provides an overview of Social Islami Bank Ltd in Bangladesh, including its vision, mission, values, products/services and corporate structure. It discusses the rationale and objectives of the internship program, which is to understand the bank's general banking activities such as different account types and benefits, opening accounts, issuing cheque books, checking balances and providing statements. The intern aims to gain practical knowledge of the bank's day-to-day operations through customer service activities like informing customers and opening various savings and deposit accounts.
0601082 npa and recovery process with respect to small scale industriesSupa Buoy
This document provides an overview of a project report on non-performing assets (NPAs) and recovery processes with respect to small scale industries at Bank of Maharashtra. It includes an acknowledgment, table of contents, and initial chapters on the executive summary, company profile of Bank of Maharashtra, objectives of the study, and research methodology used in the project. The project aims to study NPAs of the bank with reference to small and medium enterprises and analyze the bank's recovery process. It utilizes data from the bank's annual reports, RBI guidelines, and other sources.
0601082 npa and recovery process with respect to small scale industriesSupa Buoy
Hi Friends
This is supa bouy
I am a mentor, Friend for all Management Aspirants, Any query related to anything in Management, Do write me @ supabuoy@gmail.com.
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MCB Bank Limited is one of Pakistan's largest banks. It was founded in 1947 and privatized in 1991. Today it has over 1,173 branches across Pakistan and overseas. The document provides an overview of MCB's history, leadership, financial performance, products and services which include deposits, loans, credit cards, investments and more.
This document provides an overview of banking reforms in India since the 1990s. It discusses the privatization of state banks, domestic bank mergers, and issues related to mergers between banks and non-banks. It also covers the role of foreign banks in India, competition from foreign banks, and mechanisms for preserving competition in the banking sector. The document concludes by discussing the roles of banks and development finance institutions.
Microfinancing is a type of banking service provided to unemployed or low-income individuals or groups who otherwise would have no other access to financial services. The objective is uplifting the economic activity at the lowest strata of the population. The generation of economic activity would alleviate poverty through the creation of income and employment opportunities.
Implementation of PMJDY with special reference to village Aakhar, District Ba...Rani Singh
The document discusses the implementation of the Pradhan Mantri Jan-Dhan Yojana (PMJDY) scheme with a special focus on the village of Aakhar in Ballia district, Uttar Pradesh. It provides background on previous financial inclusion efforts in India and outlines the objectives and key features of the PMJDY scheme launched in 2014, including providing all Indian households with a bank account, debit card, accident insurance and access to other financial products and services. The document also analyzes progress made on financial inclusion to date and challenges faced.
Four P'S of Marketting : Nile-it's NatureSalma Bashir
The document discusses market research planning and methods for NILE, its Nature mineral water. It begins by outlining the research purpose, which is to gain knowledge about new geographical markets to assess opportunities and predict demand. It then discusses identifying specific learning goals, such as understanding competitors' strategies. The summary outlines the market research process, including descriptive, exploratory and causal research methods to answer questions about customers, competitors and the industry. The overall aim is to use the market research findings to support marketing decisions for expanding NILE into new regions.
Mr. Mazhar Dar is a Network Specialist at Metro Cash and Carry Pakistan. He communicates with around 60 employees daily to convey information and receives information from around 45 employees. He has a technical background and enjoys his career in information technology. Mr. Mazhar communicates in an assertive manner and was friendly and sensitive during his meeting with the group.
A brief intrioduction of team facilitation and the importance of team work is described. Role of facilitator and the skills which are required by the facilitaor for encourging the team are elaborated here
Import & Export of Pakistan during 04-08Salma Bashir
The document provides an overview of Pakistan's imports and exports. It discusses that textiles and garments make up over 80% of Pakistan's exports, with major exports including cotton apparel, cloth, and yarns. Major imports include civilian aircraft, generators, computer accessories, and tanks/artillery. It also outlines several government programs to help finance exports, including export guarantee services, financing schemes for manufacturers, and long-term financing for export-oriented projects.
Evaluation & Management Of Child With ArrhythmiasSalma Bashir
1. The document discusses evaluation and management of pediatric arrhythmias. It defines arrhythmias and classifies them into categories like tachycardia, bradycardia, and irregular rhythms.
2. Causes, symptoms, physical exam findings, and evaluation for different arrhythmias are described. Evaluation involves ECG, holter monitoring, and identifying any underlying structural heart defects or acquired conditions.
3. Management algorithms for bradycardic rhythms like various types of heart block and tachycardic rhythms are provided. Treatment depends on severity and involves supporting circulation, addressing reversible causes, medications, and pacemaker placement if needed.
Nestle Mineral Water-Operation & ProductionSalma Bashir
In the manufacturing of product what essential factors are required for production. Role of plant layout, plant location, employee, product design for a successful product...
Wateen- a job discription and job snapshot of wateenSalma Bashir
1. The document is a project report submitted by students Salma Bashir, Sameera Dar, and Sobia Ikhlaq on the topic of human resource management at Wateen Telecom.
2. It includes an introduction, acknowledgments, brief contents, job description, and duties/responsibilities for the head of transmission position at Wateen Telecom.
3. The job description outlines the major responsibilities of managing the transmission team and systems, implementing company policy, and coordinating with other departments and telecom operators.
Team facilitation is a process in which a neutral person (who is accepted by all group members and has no decision authority) helps the group identifies, solve problems and identify in an effective way.
Information Technology of Metro (MCC)- TQMSalma Bashir
METRO Cash & Carry, international market leader in self-service wholesale, plans its market entry into Pakistan. With this move, the retailer would expand both its international presence and its activities in the important growth region Asia.
Information Technology of Metro (MCC)- TQMSalma Bashir
METRO Cash & Carry, international market leader in self-service wholesale, plans its market entry into Pakistan. With this move, the retailer would expand both its international presence and its activities in the important growth region Asia.
State Bank Of Pakistan (SBP)- Monetary PolicySalma Bashir
The State Bank of Pakistan (SBP) is the central bank of Pakistan and is charged with the duty to "regulate the issue of bank notes and keeping of reserves with a view to securing monetary stability in Pakistan and generally to operate the currency and credit system of the country to its advantage".
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
South Dakota State University degree offer diploma Transcriptynfqplhm
办理美国SDSU毕业证书制作南达科他州立大学假文凭定制Q微168899991做SDSU留信网教留服认证海牙认证改SDSU成绩单GPA做SDSU假学位证假文凭高仿毕业证GRE代考如何申请南达科他州立大学South Dakota State University degree offer diploma Transcript
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
1. PROJECT ON
SPECIALIZED FINANCIAL
INSTITUTIONS
Submitted To:
Prof. Sadia Farooq
Project On:
KHUSHHALI BANK
Submitted By:
SALMA BASHIR 126
SANA KHALID 127
NASIBA WARIS 139
SAMEERA DAR 1542
SOBIA IKHLAQ 1548
Section: “C” (Morning)
Semester 7th
2. ACKNOWLEDGEMENT
We are grateful to Allah almighty, for enabling us to fulfill this tiring, but interesting job
for the completion of our report.
We would not be going to do justice in presenting this report without mentioning the
people around us who have been inextricably related with the completion of this report.
We would like to express our heart felt thanks to our course teacher Prof. Sadia for her
support and guidance, which she rendered through out the study to peruse this report. It
could not have been possible to accomplish this report without her thoughtful guidance
and expertise.
We would also like to thank the management of KHUSHALI BANK for permitting us to
conduct the interviews from their different department and for supporting us in the whole
procedure.
Finally, for any all too fallible errors, omissions and shortcomings in the writing of the
report only we are responsible for which we hope that all concerning regards of this
report will forgive us.
3. BRIEF CONTENTS
Synopsis ------------------------------------------------------------------------------ 1
Bank’s Profile------------------------------------------------------------------------- 2
History---------------------------------------------------------------------------------- 3
Introduction- Khushhali Bank of Pakistan----------------------------------------- 4
Mission & Values--------------------------------------------------------------------- 5
Facts and Figures---------------------------------------------------------------------- 5
Shareholders--------------------------------------------------------------------------- 6
Network--------------------------------------------------------------------------------- 7
List of Participant--------------------------------------------------------------------- 8
Cooperate Governance and Management------------------------------------------ 11
Key Events------------------------------------------------------------------------------ 11
Upcoming Projects--------------------------------------------------------------------- 13
Products---------------------------------------------------------------------------------- 14
Micro Credit Products--------------------------------------------------------------14
Micro Insurance Product-----------------------------------------------------------19
Full Service Banking---------------------------------------------------------------20
Donors and Funding--------------------------------------------------------------------21
Projects--------------------------------------------------------------------------------- 26
Poverty Alleviation Programs in Pakistan-------------------------------------- 26
Scholarship------------------------------------------------------------------------ 29
Women Empowerment and Social Welfare------------------------------------ 31
SME Development---------------------------------------------------------------- 33
Agricultural extension------------------------------------------------------------ 36
Earthquake livelihood Rehabilitation Programm----------------------------- 38
Dairy and Meat Farm Financing------------------------------------------------ 42
Challenges and Prospectives--------------------------------------------------------- 44
Strengths ------------------------------------------------------------------------------ 49
Weaknesses---------------------------------------------------------------------------- 52
Conclusions---------------------------------------------------------------------------- 54
Recommendations-------------------------------------------------------------------- 55
4.
5. SYNOPSIS
Khushhali Bank (KB) was established in August 2000 as part of the Government of the
Islamic Republic of Pakistan's Poverty Reduction Strategy. The Pakistan Microfinance
Sector Development Program (MSDP) was developed with the technical assistance and
funding of the Asian Development Bank, which provided a US$150 million loan to the
government of Pakistan, US$70 million being used for micro-loans provided by KB.
Headquartered in Islamabad, KB operates under the central bank's supervision (State
Bank of Pakistan) with several commercial banks operating as its primary shareholders.
KB has already provided services to 100,000 customers and aims to reach 700,000 by
2007.
Khushhali Bank is the Pakistani government first major government initiative to bridge
the demand for microfinance services. The bank operates on a community-based service
delivery mechanism and forms client clusters to reduce transactional costs. The Bank’s
line of products includes short-term micro loans ranging up to US$500 for working
capital and asset purchase. It also mobilizes deposits and provides counselling services to
its clients.
Khushhali Bank has extensive links with existing microfinance NGOs. These alliances
have been constructed with the aim of developing a more effective and cohesive
microfinance sector in Pakistan.
Khushhali Bank has operating branches in four provinces, throughout the 38 districts of
the country including Azad Jammu and Kashmir. The Bank now provides microfinance
services to over 100,000 poor households through 38 branches (hubs) and 72 Service
Centres (spokes). Approximately 30% of KB’s clients are women (Aug 2003).
Khushhali Bank operates throughout urban and rural Pakistan. It currently provides
services to over 100,000 clients of which approximately 30% are women. More than 30%
of KB’s staff members are women, with two women on the board of directors.
KB also directs its financial endowments to partnering NGOs for social mobilization,
capacity building of communities and providing small infrastructure projects within the
bank's service areas. This unique arrangement allows KB to disseminate specialized
social services through NGOs while its delivers financial services to the same market
segments.
1-
6. BANK’S PROFILE
Khushhali Bank is the country's first major initiative to bridge the demand for
microfinance services. Integral to microfinance services is the intensive and sustained
social support for mobilization, management and development of all clients of the bank
and their access to basic infrastructure services.As a for-profit, commercial microfinance
institution, its purpose is to:
• Establish a sustainable, scalable pro-poor financial services platform with retail
delivery.
• Catalyze an enabling environment, within which the microfinance sector can
develop in Pakistan.
• Assist the central bank in setting up an appropriate and responsive regulatory
framework within which microfinance institutions can operate on sustainable
grounds, thereby expanding outreach to the poor.
• Promote transparency, financial rigor and good governance as leading indicators
of excellence within the microfinance sector in Pakistan.
Operating through the Microfinance Sector Development Program, Government of
Pakistan has issued a Microfinance Development Policy and the State Bank of Pakistan
has developed an exclusive regulatory framework for microfinance institutions with a set
of initiatives to ensure dynamic governing conditions. The objective of MSDP is to
provide affordable financial and social services to the poor for a significant impact on
poverty reduction through:
Increased income of poor households,
Enhanced outreach, particularly to women,
Build social capital, and
Reduce risks faced by the poor
The Microfinance Sector Development Program provides an integrated package of policy
reforms and means for institutional development and outreach expansion to facilitate
growth of microfinance sector.
LOCATION
Corporate Office
94W, 4th Floor
Jinnah Avenue, Blue Area
2-
7. Islamabad-44000, Pakistan
+92 (0)51 111 092-092
HISTORY
In August 2000, Khushhali Bank was established as part of the Government of Islamic
Republic of Pakistan's Poverty Reduction Strategy and its Microfinance Sector
Development Program (MSDP) that was developed with the assistance of Asian
Development Bank. It is headquartered in Islamabad and operates under the central
bank's supervision (State Bank of Pakistan) with commercial banks as its shareholders.
Its mandate is to retail microfinance services and act as a catalyst in stabilizing the
country's newly formed microfinance sector.
Key Project Activities
• Improved delivery systems in non-bankable territories;
• Raised awareness of formal banking options through innovative marketing
strategies;
• Applied communication strategies that improve financial discipline of
potential clients;
• Focused business development services on technical information, product
development and marketing of specific enterprise, crop or livestock products;
• Building of the KB image as a trusted, financially strong and friendly bank
that wants to facilitate them in improving their income levels and reduce their
debt;
• Improved institutional capacity of KB to trigger take off in non-bankable
segments by analysis of how much subsidy per unit borrower is required and
for what length of time before KB can make a non-bankable territory into a
bankable territory
• Providing higher education opportunities to qualified poor from the project
area to build future KB local capacity to support KB banking operations;
INTRODUCTION
Who We Are
We are a for-profit, commercial, microfinance institution established for the poor through
financial collaboration through shareholder from private and public commercial banks.
We operate under a regulatory framework of the country’s central bank (State Bank of
Pakistan).
Our mandate is to develop outreach and establishing a pro-poor sustainable financial
3-
8. services delivery network in the country and assist in creating an enabling environment
that will attract other microfinance operators to commence their operations.
Head Office
Islamabad, Pakistan.
Branches
The Bank is servicing 85 districts of the country through 73 branches and 12 district
service centers. It operates across all provinces of the country including Azad Jammu and
Kashmir.
Customers
Since launching our operations in August 2000, we have maintained our commitment to
increase our women-client base across our urban and rural operations. As a result, over
23% of our 565,000 clients are women.
Product range
The bank operates on a community-based service delivery mechanism and forms client
clusters to reduce transactional costs. The Bank’s line of products includes short-tenure
micro loans ranging up to US$ 500 for working capital and asset purchase. It also
proactively mobilizes deposits and provides counseling services to its clients and
continues to expand its range of services to address client needs.
Our Alliances
Government of Pakistan
The Government has undertaken a significant numbers of programmes to improve the
welfare of its citizens, particularly the poor. The Government initiated a Micro Finance
Sector Development Programme (MSDP) to provide a conducive environment and
institutional capacity to retail microfinance services to the poor. This included the launch
of Khushhali Bank (KB) in August 2000, which with in the period of just over six years
of this commercial launch has established a network of 73 branches and 147 service
centers in 85 districts across Pakistan. As of March 31, 2007, KB has also processed over
986,687 loans totaling more than Rs. 10.3 billion across 560,000 households.
The Bank proactively encourages formation of alliances with the NGOs and recognizes
their role in poverty reduction efforts as envisaged by Government of Pakistan’s
Microfinance Sector Development Policy. The Bank benefits from the an endowment
fund, namely MSDF(Microfinance Social Development Fund) established by the
Government under a Asian Development Bank loan by directing their proceeds to its
pertaining NGOs for social projects within the Bank’s service areas. This unique
arrangement allows the Bank to disseminate specialized social services through NGOs
while it delivers financial services to the same market segments.
4-
9. MISSION & VALUES
Mission
To strengthen the economic base of low-income populace across Pakistan by improving
their accessibility to financial services. By backing a diverse product suite with
exemplary customer service, and by combining cost-efficiency with next-generation
delivery systems, we intend to achieve our core objective of attaining operational and
financial self-sufficiency.
Values
• Service excellence
• Performance
• Ethics
• Team work
• Professionalism
FACTS AND FIGURES
Profit seeking, commercial, microfinance institution.
Established for the poor through financial.
The banks head office is located in Islamabad, Pakistan.
Collaborated through shareholder from private and public commercial banks.
Operate under a regulatory framework of the country’s central bank (State Bank
of Pakistan).
The Bank is servicing 85 districts of the country through 73 branches and 12
district service centers.
It operates across all provinces of the country including Azad Jammu and
Kashmir.
The bank operates on a community-based service delivery mechanism and forms
client clusters to reduce transactional costs.
The Bank’s line of products includes short-tenure micro loans ranging up to US$
500 for working capital and asset purchase.
5-
10. It also mobilizes deposits and provides counseling services to its clients and
continues to expand its range of services to address client needs.
The Shareholders
Fourteen commercial banks, including three multinational banks are the bank's
shareholders:
Private Sector Banks
1. Allied Bank Limited
2. Askari Commercial Bank Limited
3. Habib Bank Limited
4. Habib Metropolitan Bank Limited
5. KASB Bank Limited
6. MCB Bank Limited
7. My bank Limited
8. Soneri Bank Limited
9. SaudiPak Commercial Bank Limited
10. United Bank Limited
Public Sector Banks
1. National Bank of Pakistan
Multinational Banks
1. ABN Amro BankCitibank
2. N.AStandard Chartered
6-
11. The Network
Khushhali Bank operates in all provinces of the country. While its concentration was in
rural territories, it is fast penetrating into urban territories as well as its delivery systems
strengthen. The Bank leverages upon a community-based approach for financial
intermediation and invests on building social collateral amongst its client groups.
Operations Department
NWFP
Branches 15
Distrcit/Tehsil Service
2
Centers
Urban Service Centers -
Presense in Distrcits 7
Punjab
Branches 24
District & Tehsil 10 DSC + 15 TSC =
Service Centers 25
Urban Service Centers 16
Presense in Distrcits 34
Sindh
Branches 17
District & Tehsil
10 TSC
Service Centers
Urban Service Centers 9
Presense in Distrcits 17
Baluchistan
Branches 11
District & Tehsil -
7-
12. Service Centers
Urban Service Centers 4
Presense in Distrcits 11
AJK
Branches 1
FATA
Branches 2
District & Tehsil
-
Service Centers
Urban Service Centers -
Presense in Distrcits 2
Pakistan
Branches 73
District & Tehsil 12 DSC + 25 TSC =
Service Centers 37
Urban Service Centers 29
Presense in Distrcits 85
List of Participants
Sr. # Participant’s Name & Designation Name of Institution
1. Dr. Ishrat Husain
Governor
State Bank of Pakistan
2. Mr. Mansur-ur-Rehman Khan
Deputy Governor
State Bank of Pakistan
3. Mr. Kazi Abdul Muktadir
Managing Director
National Institute of Banking & Finance
4. Mr. Akram Durrani
Director / Head
State Bank of Pakistan
8-
13. 5. Mr. Saleem Umer
Chief Executive
The Institute of Bankers Pakistan
6. Mr. Ismet Saeed Mirza
Joint Director – Compensation & Benefits
State Bank of Pakistan
7. Mr. Amjad Manzoor
Joint Director – Recruitment & HRIS
State Bank of Pakistan
8. Mr. M. Mazher-ul-Haq
Joint Director – Training & Development
State Bank of Pakistan
9. Mr. Anjum Amin
Vice President (Human Resources)
ABN Amro Bank N.V.
10. Dr. Ziauddin Ahmed Zia
EVP & Chief of Human Resources
Allied Bank of Pakistan Ltd.
11. Mr. Shakil Mapara
Manager/Head (Human Resources)
American Express Bank Ltd.
12. Mr. Zahid Mehmood
Senior Vice President (Human Resources)
Askari Commercial Bank Limited
13. Mr. Rafiq Ahmed Suhrwardy
General Manager (Human Resources)
Bank Al Habib Limited
14. Mr. Zaffar-ul-Islam Siddiqui
Deputy General Manager (Human Resources)
Bank Al Habib Limited
15. Mr. Bakhtiar Khawaja
Executive In-charge HR
Bank Alfalah Ltd.
16. Mrs. Amena Arif Buksh
9-
14. Director (Human Resources)
Citibank N.A.
17. Mr. Ahmed Kamran
EVP/Regional Manager (HR)
Faysal Bank Limited
18. Mrs. Saira Khan
SVP Human Resources
Habib Bank Limited
19. Mr. Sadiqul Huda
Head of Human Resources & Training
Industrial Development Bank of Pakistan
20. Mr. Muhammad Aftab Changi
Head of Human Resources & Training
KASB Bank Limited
21. Syed Zahid Raza
Head of Human Resources & Training
Khushhali Bank
22. Mr. Ozair A. Hanafi
Executive Director
Khushhali Bank
23. Mr. Pervez Mobin
Head, Training & Human Resources
Meezan Bank Limited
24. Mr. Anwar Noman
Vice President (Human Resources)
Metropolitan Bank Limited
1st Meeting of Banks’ HR Heads Forum held on 22nd November, 2004 at SBP, Karachi
List of Participants
Sr. # Participant’s Name & Designation Name of Institution
25. Mr. Malik Abdul Waheed
Group Head, HR & Training
Muslim Commercial Bank Limited
26. Mr. S. Safdar Raza Rizvi
SVP Human Resources
10-
15. National Bank of Pakistan
27. Mr. Rahat Saeed Khan
Executive Vice President (HR)
PICIC Commercial Bank Limited
28. Mr. Moghis Bokhari
EVP & Head (Human Resources)
Prime Commercial Bank Limited
29. Ms. Beenish Rehman
SVP / Head – HR / Admn Saudi Pak Commercial Bank Limited
30. Mr. Saeed Shakir
Vice President (Human Resources)
Soneri Bank Limited
31. Mr. Monis Mirza
Head of Human Resources
Standard Chartered Bank Ltd.
32. Ms. Shahma Zahid
Manager (Human Resources)
The First Micro Finance Bank Limited
33. Mr. Asir Manzur
Director, Human Resources
Union Bank Limited
34. Mr. Aejaz H. Khan
Senior Vice President & Manager
Union Bank Limited
35. Ms. Rukhsana Asghar Ali
Head of Human Resources
United Bank Limited
Corporate Governance & Management
An autonomous, private-sector board comprising of professional bankers and social
developers governs bank's policies and provides guidance to the management in
establishing a robust, customer-centric platform. With an intention to establish a dynamic
work environment and to inculcate a competitive culture, the bank's core management is
selected from the banking industry bringing skills in operations and financial
management whereas a robust delivery channel gains its strength from professionals with
marketing backgrounds from various sectors.
11-
16. Key events
December 1999
Government’s Economic Reform Agenda centers on poverty alleviation and commits to
establish a Bank for the poor.
February 2000
Task force is formed comprising of Ministry of Finance, SBP and the civil society.
June 2000
The Finance Minister announces the Microfinance Policy.
August 2000
The President of Pakistan promulgates an ordinance to establish the country’s first
microfinance bank which is later named as Khushhali Bank.
August 2000
Khushhali Bank commences its operation from a remote village in Dera Ghazi Khan.
December 2000
Asian Development Bank approves a loan of US$ 150 million for the Microfinance
Sector Development Program.
December 2000
Khushhali Bank establishes outreach to 1000 households in 4 of the poorest districts.
October 2001
Omnibus legislation promulgated by the president opening the sector to private sector.
December 2001
Khushhali Bank achieves its expansion into 20 districts covering 15,000 households.
December 2002
Khushhali Bank achieved its expansion into 31 districts covering 68,000 households.
December 2003
Khushhali Bank achieved its expansion into 38 districts covering 139,000 households.
December 2004
Khushhali Bank achieved its expansion into 46 districts covering 264,000 households.
December 2005
Khushhali Bank achieved its expansion into 75 districts covering 412,000 households.
12-
17. December 2006
Khushhali Bank achieved its expansion into 85 districts covering 535,000 households.
Next phase of Khushali Bank's micro-scheme be carried out
soon
ISLAMABAD, September 29 (Online): President Khushli Bank Ghalib Nishtar has said
that the next phase of Khushali Bank's micro-scheme will be carried out in the month of
January 2006 with the worth 150 million dollars aiming at facilitating the 3 million
households.
quot;Khushali Bank's operations have posed positive influence on income generation,
empowerment, health and education,” he said while talking to Online here on
Wednesday.
He said that the first phase of micro scheme of khushali bank had been successful and
would be completed in the month of December and its next phase would start in January.
He informed that as many as 150 million dollars would be spent in the next phase and 0.5
million households would be facilitated in the next two years.
He added that 6 million households had been targeted to be facilitated through micro
scheme and Khushali Bank would facilitate 3 million households and the rest would be
benefited by other banks from the private sectors.
He said that as many 6 new banks were about to launch their branches in the country and
it was the evidence that the micro scheme had been successful in achieving its targets.
He said that the sphere of micro scheme would be extended to the far-flung and remote
areas of the country so that the target set could be achieved.
13-
18. PRODUCTS
The bank's line of products includes short-tenure microloans, for working capital and
asset purchase, as well as training and consulting; i.e.;
Micro credit products
Micro insurance product
Full service banking
Micro Credit Products
Agriculture Loan
This type of loan (AGL) provides facility to small farmers who depend mostly on
landlords or the moneylenders at the time of sowing or cutting of the crops. The clients
can purchase seeds, pesticides, herbicides, fertilizers, watering the land, rent the services
of transportation, purchasing or hiring the servicing of agricultural equipment etc.
Product Features Details
Product Name Agriculture Loan
Product Type/Category (Group
Group Based
Based, Individual etc.)
For the purchase of new assets having minimum
Product Description
useful life of one year
Age: 18 – 58 years, Maximum for repeat clients: 65
years
Income: Maximum 150,000 PKR
Loan Eligibility Criteria
Resident for 2 years
NADRA NIC Holder
2 years experience
Loan Amount
(i) Minimum initial amount PKR 3,000
(ii) Maximum initial amount PKR 10,000
14-
19. (iii) Maximum total amount PKR 30,000
3-12 Months
Tenure/Repayment Options
Bullet/Quarterly/Semiannual
Guarantors Cross Guarantees
Collateral None
Insurance Mandatory
Rates & Fee Structure 23% (on declining balance)
ILA, PG form, Cash flow, Credit scoring, Loan
Documentation Required Contract terms and conditions,
Schedule of Charges, Loan Repayment Schedule
Disbursement Tools (Draft/Cheque/
Cheque/Draft/ *Direct Account Credit
Cash etc. )
Repeat Loans Yes
Top Ups Not allowed
Live Stock Loan
Under this category of loan the client can purchase livestock for milking reasons or for
breeding/slaughtering and other animals from which the client can generate income.
This type of loan can use for the purpose of primary source of income or supplementary
source of income.
Product Features Details
Product Name Live Stock Loan
Product Type/Category
(Group Based, Individual Group Based
etc.)
Product Description Both Rural and Urban
15-
20. Age: 18 – 58 years, Maximum for repeat clients: 65
years
Income: Maximum 150,000 PKR
Loan Eligibility Criteria
Resident for 2 years
NADRA NIC Holder
2 years experience
Loan Amount
(i) Minimum initial
amount PKR 3,000
(ii) Maximum initial PKR 10,000
amount PKR 30,000
(iii) Maximum total amount
3-12 Months
Tenure/Repayment Options EMI for dairy
Bullet/Quarterly/Semiannual for breeding
Guarantors Cross Guarantees
Collateral None
Insurance Mandatory
Rates & Fees Structure 23% (on declining balance)
ILA, PG form, Cash flow, Credit scoring, Loan
Documentation Required Contract terms and conditions, Schedule of
Charges, Loan Repayment Schedule
Disbursement Tools (Draft/
Cheque/Draft/ *Direct Account Credit
Cheque/Cash etc. )
Repeat Loans Yes
Top Ups Not allowed
Asset Purchase Loan
Under this category the customer may purchase movable engines, parts, machines, tools
(including agriculture related tools), equipments etc, which is usable minimum for one
year. The purchased asset should be according to the client’s working experience.
Product Features Details
Product Name Asset Purchase Loan
Product Type/Category
Group Based
(Group Based, Individual etc.)
For the purchase of new assets having minimum
Product Description
useful life of one year
Loan Eligibility Criteria Age: 18 – 58 years
Income: Maximum 150,000 PKR
16-
21. Resident for 2 years
NADRA NIC Holder
2 years experience
Loan Amount
(i) Minimum initial amount PKR 3,000
(ii) Maximum initial amount PKR 10,000
(iii) Maximum total amount PKR 30,000
3-12 Months
Tenure/Repayment Options
EMI / Bullet / Quarterly / Semiannual
Guarantors Cross Guarantees
Collateral None
Insurance Mandatory
Rates & Fees Structure 23% (on declining balance)
ILA, PG form, Cash flow, Credit scoring, Loan
Documentation Required Contract terms and conditions, Schedule of
Charges, Loan Repayment Schedule
Disbursement Tools
Cheque/Draft/ *Direct Account Credit
(Draft/Cheque/Cash etc.)
Repeat Loans Yes
Top Ups Not allowed
Working Capital Loan
This type of loan (WCL) is for the client who is already doing his business, so WCL is
for improving the existing business that’s why the experience in current business is
mandatory to avail this type of loan.
It is not for the clients/customers who want to establish their business. From this loan the
client can purchase raw material, increase its production capacity, can purchase
stock/inventory.
17-
22. Product Features Details
Product Name Working Capital Loan
Product Type/Category
(Group Based, Individual Group Based
etc.)
Extended for managing running business for the
Product Description
purchase of raw material/inventory
Age: 18 – 58 years,
Maximum for repeat clients: 65 years
Income: Maximum 150,000 PKR
Loan Eligibility Criteria
Resident for 2 years
NADRA NIC Holder
2 years experience
Loan Amount
(i) Minimum initial amount PKR 3,000
(ii) Maximum initial amount PKR 10,000
(iii) Maximum total amount PKR 30,000
3-12 Months
Tenure/Repayment Options
EMI / Bullet / Quarterly / Semiannual
Guarantors Cross Guarantees
Collateral None
Insurance Mandatory
Rates & Fees Structure 23% (on declining balance)
ILA, PG form, Cash flow, Credit scoring, Loan
Documentation Required Contract terms and conditions, Schedule of
Charges, Loan Repayment Schedule
Disbursement Tools
Cheque/Draft/ *Direct Account Credit
(Draft/Cheque/Cash etc. )
Repeat Loans Yes
Top Ups Not allowed
New Business Loan
This type of loan (NBL) is for the persons who are entering in the new business. The
NBL also applicable for the clients who are doing the business and want to increase the
business. NBL is for those customers who want to avail it for income generating purpose
not for those who want to use it for consumption purpose. Relevant working experience
is considered additional advantage but not mandatory. So the first time the credit scoring
and cash flow are exempted but the standard evaluation is mandatory to repeat the loan.
18-
23. Product Features Details
Product Name New Business Loans
Product Type/Category (Group
Group Based for both rural and urban
Based, Individual etc.)
Product Description Extended for establishment of new business
Age: 18 – 58 years,
Maximum for repeat clients: 65 years
Loan Eligibility Criteria Income: Maximum 150,000 PKR
Resident for 2 years
NADRA NIC Holder
Loan Amount
(i) Minimum initial amount PKR 3,000
(ii) Maximum initial amount PKR 5,000
(iii) Maximum total amount PKR 30,000
3-6 Months
Tenure/Repayment Options
Equal Monthly Installment (EMI).
Guarantors Cross Guarantees
Collateral None
Insurance Mandatory
Rates & Fees Structure 23% (on declining balance)
ILA, PG Form, Loan Contract terms and
Documentation Required Conditions, Schedule of Charges, Loan
Repayment Schedule
Disbursement Tools
Cheque/Draft/ *Direct Account Credit
(Draft/Cheque/Cash etc. )
Repeat Loans Yes
Top Ups Not allowed
Micro Insurance Product
Micro Loan Insurance Scheme
Product Features Details
Product Name KBL Micro loan insurance Scheme
Credit/default insurance on the event of death/partial or
Product Description permanent
disability of an active borrower
Insurance Coverage
Death / Disability of Borrower
of
Eligibility All eligible borrowers
Scope of Coverage Credit default only
19-
24. Exclusions (if any) None
Period Covered Equal to loan term
Sum Insured Outstanding Loan
Indemnity Death / Disability
Immediate reporting from branches to HO, Information to
Procedure for Claim be consolidated and forwarded to NJI along with
respective documents
Claim Settlement
90 days
Period
Full Service Banking
Current Account Product
Product Features Details
Product Name Khushhali Mahana Committee Account
Product Description Current Account (non-interest bearing)
Checking or Non-Checking
Non-checking account
account
Age: 18 years and above
Eligibility Criteria NADRA NIC Holder/Valid Pakistani Passport
2 Passport Photographs
Account Opening Amount
(i) Minimum amount required Rs. 200
Account Statement Cycle Half Yearly
Account Opening form, Contract terms and
conditions, Schedule of Charges, Signature
Documentation Required
Specimen Card, KBL Customer ID Card,
Indemnity forms
Fees & Charges
- Account opening charges Rs. 50
- Incidental charges; charges re.
balance falling below the Rs. 25 / month
minimum balance limit
- Charges if Account Statement
is required before the stipulated Rs. 50
period
Donors and Funding
A donor in general is a person that donates something voluntarily. Usually used to
represent a form of pure altruism but sometimes used when the payment for a service is
20-
25. recognised by all parties as representing less than the value of the donation and that the
motivation is altruistic
Funding
It is to provide capital (funds), which means money for a project, a person, a business or
any other private or public institutions.
Those funds can be allocated for either short term or long term purposes. The health fund
is a new way of funding private healthcare cent
Sources of Funding
Among the main sources of funding, there are:
Savings
Credit
Donations,
Lottery
Subsidies, Grants
Taxes
Saving
In common usage, saving generally means putting money aside, for example, by putting
money in the bank or investing in a pension plan. In a broader sense, saving is typically
21-
26. used to refer to economizing, cutting costs, or to rescuing someone or something. In
terms of personal finance, saving refers to preserving money for future use - typically by
putting it on deposit - this is distinct from investment where there is an element of risk.
Credit
is the provision of resources (such as granting a loan) by one party to another party
where that second party does not reimburse the first party immediately, thereby
generating a debt, and instead arranges either to repay or return those resources (or
material(s) of equal value) at a later date. The first party is called a creditor, also known
as a lender, while the second party is called a debtor, also known as a borrower.
Any movement of financial capital is normally quite dependent on credit, which in turn is
dependent on the reputation or creditworthiness of the entity which takes responsibility
for the funds.
A donation is a gift given, typically to a cause or/and for charitable purposes. A donation
may take various forms, including cash, services, new or used goods as i.e. clothing, toys,
food, vehicles, emergency or humanitarian aid items, and can also relate to medical care
needs as i.e. blood or organs for transplant. Charitable gifts of goods or services are also
called gifts in kind.
Legal Aspects
Donations are gifts given without return consideration. This lack of return consideration
means that, in common law, an agreement to make a donation is an quot;imperfect contract
void for want of consideration.quot;Only when the donation is actually made does it acquire
legal status as a transfer or property. In civil law jurisdictions, on the contrary, donations
are valid contracts, though they may require some extra formalities, such as being done in
writing.
In politics, the law of some countries may prohibit or restrict the extent to which
politicians may accept gifts or donations of large sums of money, especially from
business or special interest groups.
In countries where there are limits imposed on the freedom of disposition of the testator,
there are usually similar limits on donations. The person or institution giving a gift is
called the donor, and the person or institution getting the gift is called the donee.
Donating in the Name of Others
It is possible to donate in the name of a third party, making a gift in honor or in memory
of someone or something. Gifts in honor or memory of a third party are made for various
reasons, such as holiday gifts, wedding gifts, in memory of somebody who has died, in
22-
27. memory of pets or in the name of groups or associations no longer existing. Memorial
gifts are sometimes requested by the survivors (e.g. quot;in lieu of flowers, contributions may
be made to ABC Charityquot;), usually directing donations to a charitable organization for
which the deceased was a donor or volunteer, or for a cause befitting the deceased's
priorities in life or manner of death. Memorial donations are also sometimes given by
people if they cannot go to the ceremonies.
Lottery
It is a form of gambling which involves the drawing of lots for a prize. Some
governments outlaw it, while others endorse it to the extent of organizing a national
lottery. It is common to find some degree of regulation of lottery by governments.
At the beginning of the 20th century, most forms of gambling, including lotteries and
sweepstakes, were illegal in many countries, including the U.S.A. and most of Europe.
This remained so until after World War II. In the 1960s casinos and lotteries began to
appear throughout the world as a means to raise revenue in addition to taxes.
Subsidies
In economics, a subsidy (also known as a subvention) is a form of financial assistance
paid to a business or economic sector. A subsidy can be used to support businesses that
might otherwise fail, or to encourage activities that would otherwise not take place.
Subsidies can be regarded as a form of protectionism or trade barrier by making domestic
goods and services artificially competitive against imports. Subsidies may distort
markets, and can impose large economic costs.
Financial assistance in the form of a subsidy may come from one's government, but the
term subsidy may also refer to assistance granted by others, such as individuals or non-
governmental institutions, although these would be more commonly described as charity.
Grants
Grants are funds dispersed by one party (Grant Makers), often a Government
Department, Corporation, Foundation or Trust, to a recipient, often (but not always) a
non profit entity, educational institution or business. Such application processes,
generally require some form of Grant Writing often referred to as either proposals or
submissions. For more information regarding successful grant submissions see Grant
Writing
Many Grant Makers require Grant Seekers to have some form of tax-exempt status, be a
registered nonprofit organization or a local government. Most grants are made to fund a
specific project and require some level of reporting. The Grant Writing process involves
an applicant submitting a proposal (or submission) to a potential funder, either on the
applicant's own initiative or in response to a Request for Proposal from the funder. Other
23-
28. grants can be given to individuals, such as victims of natural disasters or individuals such
as people who seek to open a small business.
Taxation
A tax is a financial charge or other levy imposed on an individual or a legal entity by a
state or a functional equivalent of a state (for example, secessionist movements or
revolutionary movements). Taxes are also imposed by many subnational entities. Taxes
consist of direct tax or indirect tax, and may be paid in money or as its labour equivalent
(often but not always unpaid).
A tax may be defined as a quot;pecuniary burden laid upon individuals or property to support
the government a payment exacted by legislative authority.quot; A tax quot;is not a voluntary
payment or donation, but an enforced contribution, exacted pursuant to legislative
authorityquot; and is quot;any contribution imposed by government whether under the name of
toll, tribute, tallage, gabel, impost, duty, custom, excise, subsidy, aid, supply, or other
name.quot;
In modern taxation systems, taxes are levied in money, but in-kind and corvée taxation
are characteristic of traditional or pre-capitalist states and their functional equivalents.
The method of taxation and the government expenditure of taxes raised is often highly
debated in politics and economics. Tax collection is performed by a government agency
such as Canada Revenue Agency, the Internal Revenue Service (IRS) in the United
States, or Her Majesty's Revenue and Customs (HMRC) in the UK. When taxes are not
fully paid, civil penalties (such as fines or forfeiture) or criminal penalties (such as
incarceration) may be imposed on the non-paying entity or individual
Donor and Funding of Khushhali Bank
The Government of Pakistan has obtained a funding of US$ 150 million from the Asian
Development Bank (ADB) to support the operations of Khushhali Bank Limited and to
promote microfinance sector in Pakistan. Khushhali Bank Limited utilizes a US$ 70
million component of this loan for micro-loans to the poor, particularly to the women of
country's rural and urban areas and a US$ 10 million component has been allocated
toward institutional capacity building. Another US$ 70 million component has been
allocated to support policy reforms of microfinance sector in Pakistan.
Under the sector reforms, four endowment funds have been established at the State Bank
of Pakistan to support the poor with periodic contributions from both the government and
Khushhali Bank Limited to ensure sustained ownership.
These measures are construed as a catalyst for broadening and deepening the country's
microfinance market thus contributing towards poverty alleviation in the country on
sustainable basis. They include:
24-
29. Microfinance Social Development Fund
US$ 40 million fund supports social mobilization activities within poor communities.
Earthquake Livelihood Restoration Fund
20,000 community groups will be formed for provision of equity support and working
capital loans to 100,000 households to restore 100,000 livelihoods.
2,000 Community Infrastructure projects will be implemented with good community
groups.
A fund of US$ 38 million to finance Earthquake Livelihood Rehabilitation Programme
(ELRP) has been established in SBP which is managed by ELRF Committee.
Risk Mitigation Fund
US$ 5 million fund provides risk mitigation cover to micro borrowers of the bank.
Deposit Protection Fund
US$ 5 million fund provides protection to micro depositors of the bank.
PROJECTS OF KHUSHHALI BANK
Poverty Alleviation Programs in Pakistan: Great
Expectations
25-
30. With the increasing severity of poverty and its adverse social, economic and political
effects, the present regime has initiated some major policy interventions under the
umbrella of poverty alleviation programs in the country. These include micro
finance/Khushhali bank; food support program (FWP); revamping Zakat system; and
public works program (PWP). These programs are in addition to the on going program
for poverty reduction, Pakistan poverty alleviation fund (PPAF).
Poverty is not just non-accessibility of sufficient food and other basic necessities of
dailylife. Most recent literature for poverty describes it as a deprivation and exclusion of
social, economic and political opportunities in society.
Poverty results from the poor performance of the economy, institutions, governance and
an unequal distribution of resources. The reduction of poverty, therefore, requires a
holistic approach, one, which should address the broader macro economic issues and the
main causes of poverty effectively in society.
The objective of MSDP is to provide affordable financial and social services to the poor
for a significant impact on poverty reduction through:
• Increased income of poor households
• Enhanced outreach, particularly to women
• Build social capital
• Reduce risks faced by the poor
Products & Services
The Bank's line of products includes short-tenure micro loans ranging up to US$ 500 for
working capital and asset purchase. It also proactively mobilizes deposits and provides
counseling services to its clients and continues to expand its range of services to address
client needs.
With the increasing severity of poverty and its adverse social, economic and political
effects, the present regime has initiated some major policy interventions under the
umbrella of poverty alleviation programs in the country. These include micro
finance/Khushhali bank; food support program (FWP); revamping Zakat system; and
public works program (PWP). These programs are in addition to the on going program
for poverty reduction, Pakistan poverty alleviation fund (PPAF).
Poverty is not just non-accessibility of sufficient food and other basic necessities of daily
life. Most recent literature for poverty describes it as a deprivation and exclusion of
social, economic and political opportunities in society.
Poverty results from the poor performance of the economy, institutions, governance and
an unequal distribution of resources. The reduction of poverty, therefore, requires a
26-
31. holistic approach, one, which should address the broader macro economic issues and the
main causes of poverty effectively in society.
Against this backdrop, it would be timely to critically evaluate the government’s poverty
alleviation progrmmes. Let us begin with a brief description of its components:
Major Objectives
The main objective of the bank is to reduce poverty through the provision of micro credit.
The bank has signed agreements of $150 million loan with the Asian Development Bank.
The government has also provided some tax exemptions and other incentives for the
bank.
The Khushhali bank will deliver its services mainly through the network of National
Rural Support Program (NRSP). The loans will be provided without physical collateral to
the poor. The size of the loan will be between Rs. 3000-30,000.
The identification of the poor, mobilization of the community and recovery of loan will
be made through the NRSP. In the areas where NRSP does not exist, the bank will
provide loans through other NGO’s and commercial banks within the areas. The bank
will only be responsible for monitoring the accountancy and auditing of loan records.
ECONOMIC INITIATIVES
27-
32. Econ Intiatives
Projects
Agriculture and Livestock
Support
Distribution of compound
animal feed & urea molasses
to flood affected households in
Sindh.
Micro-Credit Program
Loan disbursment to support
agriculture, livestock and
small enterprises.
28-
33. Scholarship
Ever since its inception, Khushhali Bank Limited has been providing services to the areas
earlier considered as un-bankable segments. Khushhali Bank’s strategy has been to
provide impetus to growth by providing economic uplift and creating opportunities for
underprivileged people residing in the most marginalized areas of the country. In line
with this strategy, KBL in collaboration with USAID has endeavored to award
scholarships to deserving students of relatively backward and underdeveloped areas of
Baluchistan, Sindh (rural) and FATA to extend the benefits of quality education to the
less privileged segments of such marginalized territories.
The scholarship will cover:
Tuition and examination fee, course related material/books, boarding & lodging expenses
and associated incidental charges
ELIGIBILITY FOR FULL SCHOLARSHIP:
The student must hold a domicile of any area of Baluchistan, any rural territory of
Sindh and FATA.
The student must have an offer of admission to a two-year full time academic
program of study leading to a Master’s Degree or a two to four years program
leading to the award of a Bachelor’s Degree in business disciplines.
The student must qualify for financial assistance in accordance with established
university/institute’s policy. The declared gross annual income of the student’s
parents/guardians must not be in excess of 300,000 PKR.
29-
34. The continuation of scholarship to students will be subject to their ability to
maintain minimum academic performance as prescribed from time to time, and in
compliance with the academic/discipline rules of the university/institute.
PROCEDURE
Students will apply directly to the university/institute on the prescribed application
form for the award of scholarship. The Khushhali Bank Scholarship Program will be
managed by a committee comprising of one representative each from KBL and the
university/institute.
The university/institute will shortlist the students and forward details to the
committee for a final decision in this regard. The committee will review the academic
performance of all students who have been awarded the Bank’s scholarship on a
periodic basis.
WAY FORWARD
During the course of study, the students may be offered internship and on completion
of the degree, they may also be offered employment in accordance with the bank’s
requirements, rules and regulations.
30-
36. LUMS Lahore
Website: www.lums.edu.pk
7
IBA Karachi
Website: www.iba.edu.pk
3
IBA Sukkur
Website: www.iba-suk.edu.pk
11
BUITMS Quetta
Website: www.buitms.edu.pk
17
SZABIST Karachi
Website: www.szabist.edu.pk
4
IMS Hayatabad Peshawar
Website: www.imsciences.edu.pk
47
City University of Science & Information
Technology Peshawar
Website: www.cityuniversity.edu.pk
34
University of Peshawar
Website: www.upesh.edu.pk
47
Total
170
Women Empowerment and Social Welfare:
Women Empowerment:
The Government of Pakistan is committed to ensure an active role for women in the
Socio-economic field through their active participation relating policies and programs.
The current situation is briefly described as:
32-
37. 68 percent rural women fall in the category of the vulnerable lacking in assets,
access to services and economic opportunities.
Women dwelling in slums or katchi abadis or just above the poverty line –lack
basic needs.
Both rural/urban women suffer socio-cultural gender biases. In the Medium Term
Development Framework (MTDF), the following objectives are envisaged for
women development:
Greater participation of women in political, economic and legislative- decision-
making.
Enhanced availability of Micro credit facilities for women.
Accurate gender and rural/urban disaggregated database for planning
&programming purposes.
The overall strategy of Women Development is the socio-economic and political
empowerment of all Pakistani women and eradication of extreme poverty. The objective
is to bring rural women into the mainstream. The major aim is to ensure women’s equal
access in the development process. A national and four provincial Gender Reform Action
Plans (GRAPs) have been prepared through a consultative process under the aegis of
Ministry of Women Development.
Economic Empowerment Concerted efforts are being made by the Government to
alleviate poverty amongst the women of Pakistan. Consequently, the Ministry of Women
Development in Collaboration with development partners and financial institutions like
Aga Khan Rural Support Program (AKRSP), First Women Bank Ltd (FWBL) and
Khushhali Bank (KB) Conceived pilot projects for economic empowerment of rural
women under the Umbrella of National Fund for Advancement of Rural Women,
Jafakash Aurat. Three Pilot projects were launched in remote areas of Balochistan,
NWFP and Punjab under the Jafakash Aurat Program for this purpose.
JAFAKASH AURAT PROJECT
The project aims at providing skills to Gawadar women to generating/improve income
generation capacity presented by the existing and aspect market conditions. Over period
of three year approximate 3500 women will be trained in various skills (suited to
literate/illiterate women) and 1000 women provided with micro credit to set up their
businesses or enhance the existing ones.
This project has two components, vocational skills training of women and providing
micro credit to enable the women to set up their own micro businesses or acquiring
gainful employment for well being of their economic conditions.
PROJECT IMAGES
33-
38. Social Empowerment
Some 8,314 women in different districts benefited from women centers in the form of
shelters, free legal aid, free medical aid and psycho -social counseling.
Annual Plan 2007-08
An amount of Rs 163.1 million in PSDP 2007 -08 has been allocated for 12 on-going and
new projects. Some of the major projects are Gender Reform Action Plan (GRAP) which
includes inter-alia a national and four provincial plans, establishment of Crisis Centres in
various Districts of the country, National Fund for Advancement of Rural Women,
Jafakash Aurat and Pilot Project for District Resource Centers for Women in Local
Government.
Physical Targets
The Ministry of Women Development plans to establish District Resource Centers for
women in Local Government throughout Pakistan under its Gender Reform Action Plan
to provide conducive atmosphere for the women councilors. More women crisis centers
are envisaged throughout the country to provide legal aid and protection to women.
Under the Jafakash Aurat Program, technical, vocational, marketable skills and micro
credit facilities will continue to be provided to local women entrepreneurs.
Project of SME Development
The bigger challenge was to extend fund without collateral and to also ensure recovery.
The common saying is, small borrowers hardly default, and it has proved correct in the
case of Khushhalibank.
34-
39. ROLE OF KHUSHHALI BANK IN RISING OF GOP:
In Pakistan, almost one third of the population, lives below the poverty line. The
Government of Pakistan has taken a conscious decision to bring poverty alleviation to the
center stage of economic policy making. The strategy includes access to sustainable
microfinance services to the poor for enhancement of their income as one of the primary
objective.
The GOP launched the Microfinance Sector Development Programme in late 2000 to
reduce poverty in the country. The purpose was to induce private investments for
fostering growth of new microfinance institutions to efficiently provide a range of
financial and social service to the poor, especially women. The GOP initiated policy
actions for development of the sector. These included:
developing an enabling policy framework for microfinance growth
establishment of Khushhalibank, and
development of a legislative and regulatory framework to encourage
establishment of private sector microfinance institutions.
Khushhalibank institutionalized the basic attributes of microfinance policy, specialized
operating procedures and established industry benchmarks. The private sector
participants in microfinance sector can take advantage of the institutional and operating
infrastructure developed by Khushhalibank.
International financial institutions helped in raising the seed money
Khushhalibank is owned by 3 public Sector, 11 private sector and 2 foreign banks which
have contributed US $ 30 million or Rs. 1.7 billion towards the capital of the bank. In
addition to this, the GoP has solicited a loan of US $ 150 million through the Asian
Development Bank which comprises, US $ 70 million for on-lending to Khushhalibank,
US $ 10 million for its capacity building and the remaining US $ 70 million comprises
sectoral funds through endowment created at the State Bank of Pakistan.
Three banks now that are catering to this segment
The SME Bank focuses on a higher tier of clientele whereas the Khushhalibank and the
recently established First Micro Finance Bank cater to the requirements of the small
borrowers of the country. However, given the number of 6 million poor households and
as per our initial feasibility study, the estimated requirement of funds is about US $ 2
billion annually. There is hardly any competition within the formal sector and the major
challenge will be to set up an efficient delivery channel for affordable financial services
to the poor.
Creation of enabling environment
35-
40. Stakeholder consultations and feasibility study undertaken by the Asian Development
Bank (ADB) converged on a financial system development approach to create a broad
based system anchored with the ongoing financial sector reforms that emphasize
autonomy, good governance, privatization, and sustainability. These arrangements have
twin objectives, first to ensure an orderly development of the micro finance sector and
second, to protect the financial assets of the poor. NGOs and their sponsors can now
graduate into micro finance banks and provide a full range of services to the poor.
The experience with regard to loan payments by the borrowers:
The bank has established its network across 30 of the poorest districts of the country and
extended credit over Rs. 500 million which comprises 50,000 small loans averaging Rs
10,000. Planned, focused and structural policies resulted in recovery rates around 98 per
cent while ensuring that over 30 per cent of our clients are women.
Development of entrepreneurial skills:
Bank aim at strengthening the social capital of the poor — increasing opportunities for
their participation in the working of the society where social cohesion is weak and poor
suffer from systematic exclusion. Increasing economic opportunities and creating
participatory institutions/mechanisms are required to enhance social capital. These funds
support capacity building of community based organization in terms of social awareness
and selection and management of income generating activities, developing skills and
providing basic training to leaders of community organizations These interventions will
strengthen the community organizations, which serve as a delivery point for financial and
social services, and promotes social and economic vitality.
INCLUSIVE FINANCIAL SYSTEM
Bank programs in FATA with support October - December 06
One promise:
Poverty breaks people. It smears dignity. It poisons hope. It violates dreams. It shatters
self-esteem. It burns integrity. Khushhali Bank has provided micro-loans to over five
hundred and fifty thousand Pakistanis with the primary aim of supporting and rebuilding
ordinary lives by creating the right combination of circumstances through skill and
infrastructure development, community empowerment, independence and enterprise.
More proof that we’re giving common people an uncommon advantage to realize heir full
potential.
Which is why, Khushhali Bank is more than a bank, it’s a promise.Inside this Issue;
36-
41. • A very Happy New Year to all our readers.
• U.S. Ambassador Supports Khushhali Bank Program in FATA
• Khushhali Bank’s Clients & Staff recognized
• Global Microcredit Summit 2006
• A Glance into Khushhali Bank’s Promise of “Changing Lives”.
U.S. Ambassador Supports Khushhali Bank Program in FATA:
While addressing the gathering of Khushhali Bank clients and staff, the US Ambassador
congratulated Khushhali Bank on their achievements over the past three years. With
USAID assistance, the bank has opened twenty two branches, including two in Khyber
and Kurram agency of FATA; has hired nearly 200 loan officers in the field and has
disbursed more than 200,000 loans to clients in FATA, Balochistan and Sindh. USAID
will further support the bank plans to extend its services in the remaining five agencies of
FATA over the next four years. The Ambassador said that creating employment and
helping small-scale businesses in Pakistan is an important U.S. goal. Through
microfinance, USAID is helping provide impetus to sustained economic growth and fight
poverty.
The Ambassador specifically encouraged women clients to diligently work for their
economic development with Khushhali Bank’s participation. We are proud to announce
that out of 150 applications from across pakistan, 20 cases were short-listed by a
committee. Khushhali Bank submitted 7 cases and following two clients won the Micro
entrepreneurship awards in their respective categories:
National Level:
Ghazala Yasmeen:
Entrepreneur from Faisalabad who’s Customer Services Officer (Khushhali Bank) is
Uzma Noureen. Ghazala Yasmeen won the best National Female entrepreneur award of
Rs. 150,000 and CSO Uzma Noureen won the Loan Officer Recognition Award-
category National amounting to Rs. 20,000.
Regional Level
Bibi Noor Jahan:
Bibi Noor Jahan- Entrepreneurs from Quetta who’s Customer Services Officer
Khushhali Bank) is Uzma Naqvi. Bibi Noor Jahan won the Regional Urban Runner-Up
entrepreneurship award of Rs.50, 000. And CSO Uzma Naqvi won the Loan Officer
Recognition Award under Regional category and got prize amounting to Rs. 15,000.
We now have sufficient evidence to show that microfinance works. The challenge for us
now is to build a financial system which caters to the majority of the population. Such a
system should provide equal opportunity in terms of access to an array of affordable
financial services. The task at hand is to secure global commitment to developing such a
37-
42. system, where people irrespective of their economic threshold have access to services
they require to make the best possible use of their human potential. In this context we
need to undertake a number of measures to underscore the effectiveness of these
initiatives:
Firstly, there is a need to create an increased awareness of microfinance and its
potential and the conditions in which it can flourish.
Secondly, it is imperative to fill several information gaps: which for instance are
the segments of the population with access to financial services; which services in
particular; what is the cost effectiveness of impact and if , there are any
impediments to access.
Thirdly, there is a need to secure commitments at the global level and within
multilateral frameworks that fiscal, macroeconomic, regulatory and supervisory
policies are supportive of microfinance services.
And in the fourth place, microfinance should be mainstreamed into the financial
sector as a commercially viable proposition and not viewed as an isolated act of
charity. This is envisaged to bring into focus the role of the private sector and
private/commercial capital for the requirements of a huge market for financial
services.
In the context of Pakistan the macro- economic scene has stabilized substantially over the
last seven years with the growth in economy and the overall volume of trade leading to
better per capita incomes and reduction in absolute levels of poverty, however a
formidable challenge still remains in terms of transferring the benefits of the economic
turnaround at a faster rate and more equitably across the country’s population.
In order to address this situation the Government of Pakistan has developed a strategy to
reduce poverty through investment in social sectors, rural development, creating more job
opportunities and improving access to financial services. Within the overarching strategy
small and medium enterprises and microfinance have attained significant importance as
poverty alleviation tools.
The Government of Pakistan has systematically, proactively and comprehensively
endeavored to address the underlying issues that restrict the flow of microfinance services
to the poor and Pakistan is perhaps one of the first countries from amongst the developing
world to have put in place a policy framework conducive to the development and growth
of the microfinance sector. The Policy framework adopted has the following attributes:
It recognizes Microfinance as a part of the broader financial system. It encourages the
emergence of Microfinance Institutions to increase outreach to the poor – especially
women. The framework recognizes the need to direct investments to build social capital
and mitigate risks faced by the poor. The policy promotes cross sectoral linkages between
Microfinance Institutions specializing in financial intermediation to provide financial and
38-
43. non-financial services to individuals as well as groups. It also restricts states direct role
and intervention to policy support.
Furthermore our framework promotes public-private partnerships and private sector
initiatives. It also improves profile of Microfinance Institutions among policy makers and
mainstreams core attributes of Microfinance best practices and good governance. Using
the attributes of the Microfinance policy, the Government of Pakistan facilitated design
of a legal framework for diversification of Microfinance markets in the country.
The Legal framework comprises of Microfinance Institutions Ordinance 2000 and 2001
promulgated by the President of Pakistan and the subsequent legislation notified by the
central bank – the State Bank of Pakistan. The legal framework opens the sector for
private participation with Microfinance institutions enjoying full autonomy and privileges
of a financial entity. Seed capital financial requirements have substantially been reduced
and institutions are permitted to be established at any level, i.e. districts, province or
national and mobilize resources from local markets. Licensing, procedures and
supervisory regulations and disclosure standards have been simplified.
The Policy clearly sees microfinance as a viable commercial activity run by the private
sector with government having a policy support role under a proactive and supervisory
role of the State Bank of pakistan
These measures have created conducive environment and additionally the enabling
infrastructure has brought focus and attracted private sector investment leading to
positive outcomes as evidenced by substantial growth in the microfinance sector in
Pakistan over the last seven years. This growth has been witnessed in all fronts and is
evidenced by increase in the number of microfinance players, entry of Greenfield
Microfinance banks, entry of commercial banks into microfinance, diversification of
products, ten fold increase in the number .
Towards An Inclusive Financial Sector-microfinance In Pakistan of borrowers to seven
hundred thousand households and development of distribution networks as conduits for
future growth in the rural and marginalized areas of the country.
These developments have encouraged the emergence of a meso-sector that services the
microfinance market in terms of microfinance networks, specialized rating firms, the big
four audit firms getting involved into microfinance, enhancing the capability of a central
credit bureau to service the microfinance sector and a greater level of compliance to
international standards of reporting and transparency. Today microfinance in Pakistan is a
sector in its own right rather than just a tool for poverty alleviation with increasing degree
of competition and a high trajectory growth curve.
These efforts and investments have been undertaken with an implicit promise in Pakistan
- to build a financial system that reaches out to the poor & provides them with quality
services to better manage their precarious lives.
39-
44. Agricultural extension and the role of the private
sector in Pakistan
Public and private sectors, particularly from the perspective of small farmers. It argues
that both sectors have strengths and weaknesses of their own. The public sector extension
services do not reach the bulk of the small farmers due to poorly motivated staff,
inadequate operational funds, lack of relevant technology, top-down planning, centralized
management, and weak accountability systems.
On the other hand, the private sector extension services are targeted at big farmers and
are primarily triggered by a profit maximization motive. The paper then presents a unique
model of partnership between a private sector concern, a non-profit (rural support
programme), and farmers, and argues that similar models could be adopted to make
agricultural extension services work to the benefit of small farmers.
Introduction
Agriculture is the mainstay of Pakistan’s economy. More than 24% of the country’s GDP
comes from agriculture sector which also employs about 44% of the labor force, sustains
almost 75% of the population, and accounts for 30% of the exports and 50% of the total
foreign exchange earnings (Government of Pakistan, 2000). Since Pakistan has high
population growth (more than 2.5%), a sustained growth in agricultural output and
productivity is critical for its economy and social wellbeing.
The Agriculture management model in Pakistan is quite similar to other developing
countries. The Ministry of Food, Agriculture & Livestock (MINFAL) through its
provincial departments carries out most of the agricultural extension (Umali and
Schwartz, 1994; Swanson, Farner and Bahal, 1990).
The role of the agricultural extension service is to introduce new technologies, advise
farmers on various aspects of crop production, supply inputs such as chemicals, fertilizer
and seed, and provide services like crop and orchard sprays against pests and diseases.
Pakistan has tried several extension models including the Village Agricultural and
Industrial Development Programme (Village-AID Programme), Basic Emergence of
private sector in agricultural extension.
40-
45. The Khushali Bank has use the micro-finance model in order to provide credit to the
poor. This programme has set up based on the experience gained through the RSPs, and
is two important pillars of the Pakistan Poverty Reduction Strategy.
To illustrate how such a partnership model can work for improved agriculture extension
services, a case study from Rahim Yaar Khan, a southern district of Punjab Province, is
presented here.
A case study of partnership between the public and private sectors in Rahim Yar Khan,
wheat, cotton and sugarcane are the main cash crops. Mango orchards are abundant but
are mostly owned by relatively large growers. Livestock is a secondary source of income
in this area. Rahim Yar Khan lies at the tail of the irrigation system and often faces water
shortfalls. Small farmers are especially prone to the irrigation water shortages. Cotton is a
high-risk crop, often devastated by sporadic pest attacks and crop diseases. This affects
the small farmers, who are left with little or no profit, accumulated debt, and worsened
quality of life.
In contrast, sugarcane is a low-risk crop. However, it is irrigation-intensive and occupies
farmland longer than any other crop. This increases the costs of production. The farmers
also have to wait for longer periods before they get paid for their crops, because of their
comparative disadvantage in marketing vis-à-vis the bigger farmers.
Many COs are showing increased interest in these projects. The communities manage the
projects and they also contribute 20-30% towards the total cost. Most of the small
farmers have so far opted for installation of electric turbines or renovation of their water
channels. So far 32 such projects have been initiated, while others are waiting funding in
the next phase. These opportunities have increased the level of interest for unorganized
farmers and now more people are joining in after witnessing the success of farmers who
reduced their costs and saved water and time after completion of irrigation projects.
Earthquake Livelihood Rehabilitation Program
The earthquake of October 8, 2005 hit the hardest on the livelihoods of those who were
already poor and accentuated their vulnerability due to lack of skills, difficult terrain,
41-
46. inaccessibility, and inadequate linkages to the market. Most livelihoods were catering to
local markets and the lower income segments of population both for inputs and outputs.
The extent of damage to livelihoods was compounded by loss of lives, injuries,
destruction of houses, shelter, productive assets, and damage to social, physical and
transport infrastructure.
Khushhali Bank Limited (KBL), the largest microfinance bank in the country, had
already been pooling the development efforts and skills of service provider agencies
including NGOs for mobilizing poor households into community groups to provide
financial and social services to the group members. In addition, KBL through its partner
organizations was also providing community infrastructure grants. These business
principals of community based service delivery had fostered active participation and
ownership of KBL program at grassroots level.
Hence KBL leveraged upon its established experience and developed Earthquake
Livelihood Rehabilitation Program (ELRP), salient features of which are as follows:
The Objective and Scope
The objective of ELRP is poverty reduction through substantial and immediate response
directed to poor household in affected areas (as defined by the AJK and NWFP
Government) to restore income flows, reduce dependency on relief, revive local
economies, and provide shelter including for restoring livelihoods. These will have
immediate poverty reduction impact and thereby increase income of effected households,
build social capital, and reduce vulnerability.
Components and Budget:
20,000 community groups will be formed for provision of equity support and working
capital loans to 100,000 households to restore 100,000 livelihoods.
2,000 Community Infrastructure projects will be implemented with good community
groups.
A fund of US$ 38 million to finance ELRP has been established in SBP which is
managed by the ELRF Committee.
Project Implementation
42-
47. • Post Disaster Relief Phase
In the relief phase of disaster, KBL has established a Project Implementation Unit (PIU)
in corporate office to oversee implementation of the project.
• Rehabilitation Phase
ELRP was formally inaugurated by Prime Minister of Pakistan on August 26, 2006, in
the rehabilitation phase of disaster.KBL has established branches in Abbotabad, Bagh,
Batagram, Kohistan, Mansehra, Muzaffarabad, Neelam, Poonch and Shangla.
Local resource was hired and trained as Customer Services Officers, to serve their
community. KBL has finalized service providers including NGOs to organize community
into groups so that groups have access to KBL’s venture capital financing facility and
Community Infrastructure Projects’ grant.
• Reconstruction Phase
Community infrastructure projects were slated to be launched in 2007.
• Development Phase:
Graduate clients of rehabilitation phase will have access to KBL’s mainstream financial
and social services.
Khushali Bank Grant/Soft Loan Program (06-10-2007)
Eligibility Criteria:
• Earthquake affectees who want to establish/strengthen grocery shop etc. will be
provided Rs.15,000/family
Rs. 12,000/-would be provided as grant whereas Rs. 3,000/- (soft loan with zero mark-
up) will be recovered in six installments (Rs.500 / P.M)
Updated on 01-04-08
Grant Soft Loan Total
S# District Male Female
(Rs. in Million) (Rs. in Million) (Rs. in Million)
43-
48. 1. Muzaffarabad 3,760 4,260 96.240 24.060 120.300
2. Bagh 968 39 12.084 3.021 15.105
3. RawalaKot 1,937 668 31.260 7.815 39.075
4. Neelum 47 -- 0.564 0.141 0.705
Total 6,712 4,967 140.148 35.037 175.185
Dairy and Meat Farm Financing
Pakistan is the fourth largest producer of milk in the world, however, only 2-3 percent of
milk is processed. Similarly, the country has great potential to develop meat farm and can
have substantial share in the attractive Halal meat market. Lack of access to adequate
financial services has been among other key impediments in the growth and development
of this sector.
The easy and sustained access of dairy and meat farms with affordable financial services
would enable the dairy and meat growers to acquire modern and efficient livestock
facilities, infrastructure and processing systems for milk and meat production thereby
giving boost to livestock sector to produce large quantity of livestock products for
domestic consumption as well as for export.
Delivery Methodology in Livestock and Dairy Sector
Expert trainers in Agriculture and Horticulture, Livestock and Dairy Sector. Fisheries and
Micro Enterprise Management are hired and khushhali bank has provided them state-of-
the-art Audio/Video equipment with documentaries and 4x4 vehicles so that they can
reach remote and distant areas.
Modules are listed below:
Livestock and Dairy Sector
44-
49. • Breeds of livestock with reference to their productivity traits
• Importance of balanced feeding to enhance the productivity of livestock
• Methods of urea feeding in livestock
• Feeding dairy animals for higher milk production
• Fattening of small ruminants
• Range management and grazer training
• Awareness about contagious diseases and their vaccination program
• Awareness about external & internal parasites and their control
• Detection and control of mastitis
• Care and management of new born calves
• Reproductive health management
• Hygienic milk production and dairy products
CHALLENGES AND PROSPECTIVES
Background
KB was designed to implement the MF policy in response to the rising incidence of
poverty, significant demand and supply gap, negligible institutional outreach, and
disarray of DFIs. KB is the lead institution to generate the momentum for the sector to
grow, and expected investments and institutional diversity to materialize.
The objective of KB is to provide sustainable MF services to the poor in order to reduce
poverty and promote social development and economic Justice through community
building and social mobilization.
While observing successful MF practices KB plans to provide affordable services,
including savings, credit, leasing, money transfer, and risk mitigation. KB combines the
development efforts of a range of service institutions in a synergistic and catalytic
manner. KB has adopted an innovative management structure to reduce transaction costs.
40% of KB staff and 32% of its clients are women. Outreach is projected to be 560,000
borrowers by 2006 with portfolio outstandings projected at US$ 133 million.
Khushhalibank’s design incorporates global experiences and best practices of the
microfinance industry. By October 2002, KB was operating 31 branches and servicing 33
districts. It was managing receivables of US$ 9 million. KB had successfully disbursed
US$ 12 million and serviced over 70,000 loans since its inception.
45-
50. The number of poor people in Pakistan nearly doubled during the 1990s and this
incidence of poverty will continue to increase if economic performance is not
accelerated, directed poverty reduction interventions are not enhanced, and delivery of
pro-poor services not improved. Therefore, the Government has made poverty reduction
its prime objective and identified microfinance (MF) as a critical element of its poverty
reduction strategy.
As institutional MF is a recent development in Pakistan and, therefore, has a very limited
outreach. However, the poverty reduction potential of MF is now widely recognized at
the policy-making level and among the development community.
Challenges to the Expansion of Khushhali Bank
With an outreach of less than 5% of poor households, affordable MF services are not
available to the majority of the poor; thus they are unable to participate in the local
economy. The outreach of the institutions is expected to grow to 400,000 households
(currently about 60,000) by the end of 2004. Commercial banking sector is neither
structured nor geared to adopt MF as a substantive part of their portfolio. Therefore, in
the absence of complementary or alternative arrangements, the MF market will remain
grossly underserved, and its poverty reduction potential largely unrealized in the medium
to long term.
For this potential to be realized, the following constraints and issues must be addressed,
Social
Inadequate Access of the Poor to Services
Inadequate access to productive resources and social services has resulted in low
indicators of well-being and lack of employment opportunities. This situation is
compounded in rural areas where access is even more difficult due to inadequate or
complete lack of basic infrastructure.
Low skill level and absence of support for human resource development for the poor
prevents them from diversifying their household income. Government interventions have
not yielded the desired impact due to inadequate emphasis on community-based
participatory approaches. Resource availability relative to the requirements for the social
sectors is low. Without these services, MF sector of KB will have less than the intended
impact.
Obstacles for Microfinance Outreach to Women
Social intermediation costs to enhance women's access to MF are significantly higher in
Pakistan as constraints on mobility, social interaction, and skills development must be
addressed on a sustained basis. Although returns from social intermediation in terms of
social capital and demonstrative effects are high, investments are limited due to high cost.
Consequently, the gender orientation of organizations, products, and delivery
46-
51. mechanisms is insufficient to enhance outreach to women. Inadequate social preparation
adversely affects group cohesion, the quality of loan portfolio, and ultimately the
sustainability of MF operations.
Absence of Risk Mitigation Measures
The disadvantages of the poor households include lack of access to financial services,
unfair terms of participation in the local economy, and vulnerability to economic and
physical downturns. Poor households forego potentially viable technologies, production
choices and income opportunities due to risk aversion. Mechanism’s to mitigate such
risks are not available. In addition poor have no means to secure the safety of their
savings, unless deposited with Commercial banks, to which poor have little access.
Financial
Microfinance-Specific Policy Framework
In the early stages of MF sector development, a conducive policy environment is required
to encourage innovations and to allow a diverse set of institutions to provide a range of
services, particularly savings, in a supervised and regulated environment. The required
policy attributes include
promotion of institutions that can target the poor with adequate gender
emphasis
acceptance of individuals as well as groups of individuals for MF transactions
mechanisms to ensure that social intermediation precedes and accompanies
MF services
significant investments in social intermediation
pro-poor financial innovations such as measures to mitigate risks faced by the
poor
realizing public-private sector synergy
autonomy in pricing and client selection
measures to integrate MF with the financial system and
proactive role of the Central Bank in developing the MF sector.
Institutional Limitations
The financial reforms in Pakistan have put in place a policy framework for efficient
financial intermediation that enables institutions to concentrate on their core
competencies. For the CBs and DFIs, this core competency is serving the upper and
middle segments of the market. While the banking system has responded positively to the
47-
52. reform initiatives, an efficient and financially sound system, barring select institutions,
has yet to emerge.
The high level of nonperforming loans attributed to slack industrial activity is
widespread. Some institutions have capital adequacy below the prescribed 8% of risk-
weighted assets. Competitive pressures for product differentiation and cost reduction are
increasing. Smaller institutions are not able to invest in new technology and a branch
network to access low cost retail deposits to gain competitive advantage. The banking
system is becoming concentrated in a few large institutions.
MF is unlikely to become a significant part of CBs' portfolios. Operating procedures of
CBs are incompatible with the requirements of banking with the poor, and thus their
services and delivery mechanisms have excluded the poor. Women have been virtually
excluded from institutional credit. In addition, CBs are undergoing reforms that include
closing loss-making branches (mostly located in rural areas), downsizing, re-capitalizing
and implementing measures to recover and write-off non-performing loans.
The CB's priorities therefore are restructuring and reorganization. Slow transformation of
DFIs into efficient financial intermediaries due to their overt political considerations in
business decisions and persistent poor governance, underlines constraints to change and
undermines the development of the rural financial system. For these reasons, MF has
been perceived as high risk and unprofitable in Pakistan. Consequently, potential
suppliers have avoided entry into MF.
NGOs have small credit operations with limited MF specialization. NGOs do not have
the trained staff, financial systems, and, until recently, have not seen the necessity of
following successful practices and procedures. Even among the members of the MF
Group, most have yet to achieve financial viability. Inadequate investment in social
intermediation also effects portfolio quality.
Services
Delivery of financial services to the poor, particularly in rural areas is constrained by low
population density in some provinces, inadequate communication services, small loans,
and low household savings that increase transaction costs. Seasonally of the agriculture
business cycle, the main occupation for poor households, and the high probability of risks
add to the problems of providing MF services to the rural poor.
In addition, while security of savings is a prime concern for rural households, secure
savings facilities are not accessible. CBs find it costly to cater to small depositors.
Savings through NGO intermediaries, deposited with CBs, are generally compulsory and
do not necessarily provide the maximum return to the depositor. NGOs cannot deploy
such savings as micro credit.
Towards a new Policy Paradigm
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53. SBP recently invited expression of interests for setting up MFIs from investors both local
and foreign. A number of interests received are under processing at SBP.
Support for Social Intermediation
As part of the policy, the Microfinance Social Development Fund (MSDF) was
established in SBP for provide intensive and sustained support MFIs for promotion of
Community Organizations and capacity building for the poor, especially women, to
effectively utilize MF services.The revenue earned from MSDF meets defined social
preparation costs associated with community mobilization, skills development, social
awareness, basic numeracy skills, and selection and management of IGAs for about
560,000 poor organized in about 24,750 COs. MSDF also funds women's empowerment
through training in community management, capacity enhancement for specific identified
skills, and leadership management.
Enhancing Outreach of Basic Community Services
To leverage the social mobilization through MSDF, the Community Investment Fund
(CIF) was established in the SBP, with a term of 25 years, to increase the access of the
poor to basic infrastructure and thus improve their livelihoods through efficient and
productive use of local resources. The involvement of COs in identifying, planning,
executing, and monitoring community-based infrastructure subprojects will empower
them and serve as an incentive to mobilize and strengthen COs. This will help in
expanding the MF market.
MSDF and CIF support is to enhance social capital by creating a network of COs,
strengthening COs, increasing social and economic interaction among the excluded,
influencing norms of behaviors that govern interaction between genders, enhancing
capacity and skills, and providing opportunities for economic development.
The fund mechanism provides a clear basis for determining social costs associated with
MF and has a built-in exit mechanism; as business volumes increase, MFI revenues will
meet an increasing proportion of social costs. These funds are used only to provide
services through NGOs, and nearly half the proceeds are targeted at poor women.
Pilot Risk Mitigation Mechanisms for the Poor as a Safety Net Measure
As a safety net measure, the Risk Mitigation Fund (RMF) was established in SBP. RMF's
objective is to reduce risks associated with failed IGAs, both farm and non-farm, of KB
clients. RMF will assist KB borrowers, not KB per se, in case of loss of IGAs due to
unforeseen circumstances beyond their control. RMF is expected to mitigate risks faced
by about 27,000 poor during the last six-year.
Protecting Deposits of the Poor
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54. Although small in absolute amount, the value of the savings of the poor relative to their
income is considerable and therefore needs to be protected. KB is a deposit-taking
institution, both from its (poor) borrowers and also from non-borrowers. Given
substantial paid-up capital and viable operations, no immediate deposit guarantee is
considered necessary. However, as a matter of precaution, the Deposit Protection Fund
(DPF) was established in SBP to partially secure the savings mobilized by KB.
Despite the challenges faced by the micro finance sector, the future prospects for this
sector are quite bright due to :
• Higher demand for the micro finance services, as a result of which there is
expanding branch network of existing MFIs and entrance of the new banks and
NGOs in this sector. The MFIs are emerging as an important player in the
country’s banking and financial system.
• The full commitment and support on the part of the government and SBP to enhance
the development and outreach of MFIs in a sustainable way.
STRENGTHS
Khushhalibank’s design incorporates global experiences and best practices of the
microfinance industry. The objective of KB is to provide sustainable MF services to the
poor in order to reduce poverty and promote social development and economic Justice
through community building and social mobilization.
Largest Microfinance Instituion
Khushhali Bank is one of the largest microfinance institutes in the country with 31
branches covering 33 districts and US$12 million in disbursements. But real expansion
occurred after the government of Pakistan signed a loan agreement of US$150 million
with the Asian. By the end of 2005, KB had 63 branches and employed 1,576 people. KB
reported that in 2003, it provided loans to 100,000 households.
KB had successfully disbursed US$ 12 million and serviced over 70,000 loans since its
inception.The loan portfolio of MFIs is diversified. The major share of the advances
belongs to the livestock sector (42 percent) followed by micro enterprises (30 percent)
and agricultural inputs (25 percent), the remaining 3 percent consists of miscellaneous
sectors
Major Partners
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