PAKISTAN CABLES REEL PAINTED BY MAURIZIO BOSCHERI, UNVEILED BY KARACHI BIENNALE TRUST AT CUSTOMS HOUSE KARACHI
Karachi Biennale Trust unveiled another Pakistan Cables’ reel at a ceremony, held at the Customs House Karachi, recently. Renowned Italian artist Maurizio Boscheri has painted the reel highlighting 70 rare species of animals in Pakistan, to commemorate the upcoming 70 years of independence. The reel is installed at the Eduljee Dinshaw Road, which is a cultural and architectural landmark of the city.
‘70 Species for a Biodiverse Pakistan’ is the fourth installation as part of the ongoing public outreach program, “Reel On Hai”, which was launched by Karachi Biennale in collaboration with Pakistan Cables Limited in October last year.
Through the “Reel On Hai” project, the Public Outreach Committee of the Karachi Biennale has invited artists, designers and architects to transform the empty cable reels provided by Pakistan Cables, the main activity partner, into pieces of art. These reels will be installed in schools, parks, hospitals and universities all over Karachi where artists will work on site to engage the local community.
TPL LIFE INSURANCE INTRODUCES AN EXCLUSIVE TPL LIFE LOUNGE
TPL Life Insurance is now providing access to an exclusively designed TPL Life Lounge & Healthcare Services for its customers at OMI Hospital.
The unveiling ceremony of the newly opened TPL Life Lounge at OMI Hospital took place with the core management of TPL Life Insurance and various dignitaries of the hospital present. TPL Life’s CEO, Mr. Faisal Abbasi and Dr. R. A. Rahim, Chairman & CEO OMI Hospital cut the ribbon at the opening.
“TPL Life Exclusive Lounge at OMI Hospital is indicative of our commitment to introduce ‘real’ value added offerings to our customers. We believe that this facility will be a significant leap in taking care of our valued customers when it really matters. We are thankful to OMI Hospital and its management for sharing the same vision as TPL Life’s i.e. ensuring our customers experience the best of care when they visit the hospital. This indeed is a very happy moment for all of us”.
The range of services offered by TPL Life at OMI Hospital include: 24/7 access to facilitation by the TPL Life Attendant, quality insurance advisory services through the company’s insurance expert, information regarding health, savings and life insurance plans, appointment alerts and a concierge service for refreshments.
Additionally, consumers will be able to enjoy a 30% discount on ER & OPD services as well as laboratory, Medical Imaging and radiology investigations. Further, 7.5% discount is available on Retail Price of Drugs & Disposables.
MCB ANNOUNCES INCREASE IN EMPLOYEE COMPENSATION
MCB Bank Ltd, Pakistan’s leading private sector bank, has raised the salaries of its permanent clerical and security staff along with increase in various allowances keeping in view the increasing cost of living and its commitment to staff welfare.
After a successful negotiation process, MCB Bank management and MCB Staff Union of Pakistan (CBA) signed an agreement effective from January 1, 2017 with renewed terms of employee compensation for the next two years. Usman Hassan, Group Head Human Resources, from MCB Bank Management and Riafat Khan Jadoon, President MCB Staff Union of Pakistan, signed the agreement at a ceremony held at MCB House. Lahore
Riafat Khan Jadoon, President MCB Staff Union of Pakistan (CBA) said that all MCB Bank employees were an integral part of the Bank’s story of success. He also mentioned that the Bank’s progress was dependent on the growth and development of its staff, who were deeply committed to MCB Bank.
Usman Hassan, Group Head Human Resources Management, thanked both the management and union representatives for their efforts and mentioned that the revision in compensation was demonstrative of the Bank’s commitment to its employees. He hoped the salary increase would lead to greater motivation and in turn, greater productivity of the Bank’s workforce.
ISLAMABAD UNITED ANNOUNCE JS BANK AS OFFICIAL PARTNERS
Islamabad United, the winners of the inaugural HBL PSL, is proud to announce its partnership with JS Bank as the principal sponsor of the franchise for the second season of the Pakistan Super League. The bank signs up as the franchise’s “Official Partner” for the second season of the PSL.
JS Bank is part of the JS Group, one of Pakistan’s most diversified and progressive financial services groups controlling and operating market-leading financial services companies in Pakistan across various sectors including commercial banking, asset management and securities brokerage. JS Bank currently operates 307 branches in 152 cities with one overseas branch in Bahrain and offers a diverse range of financial services.
Regarding the partnership, JS Bank Marketing Head Imran Shaikh stated “It’s a pleasure to partner with an organization like Islamabad United who shares our vision for a better Pakistan and they have done a remarkable job, especially after having won the last Pakistan Super League in attracting others to this wonderful sport. Cricket has always been very close to JS Bank as we have been promoting cricket in the country since 2011. JS Bank has initiated various tournaments like JS Bank Women’s T20, JS Bank Chairman’s Cricket Tournament and also supported the promotion of wheelchair cricket to provide opportunities for Pakistan’s youth to showcase their talent and skills at the highest level”
Islamabad United owner Ali Naqvi added, “We are delighted to partner with one of Pakistan’s leading banks. Not only does JS Bank share our philosophy of bringing international standards and practices to Pakistan, but their work in CSR is something that correlates with our vision. Through their various initiatives they have aimed to build an educated, healthy and prosperous Pakistan with dignity and honour for all, by providing healthcare, education and promoting economic and social development of underprivileged members of our society. Both our organizations have similar viewpoints towards the supremacy of quality, and thus we do believe that this is the ideal partnership for us.”
The partners have expressed interest and intend to collaborate on various initiatives post the PSL as well, both on and off the field.
Islamabad United is one of the five franchise teams in the Pakistan Super League (PSL) and is the winner of the first season of the PSL. The franchise believes in brining change to Pakistani sports with the introduction of international standards of practice and a commitment to continuous progress.
Leonine Global Sports(LGS) is the proud owner of Islamabad United, the FIRST CHAMPIONS of the Pakistan Super League. Part of the Leonine Global group, Leonine Global Sports is focussed on enabling sports and creating franchises with a mission to provide: 1) A truly global experience on sports entertainment; 2) A fan base which is loyal, aware and supportive of the sport and the franchise; 3) An aspirational beacon for up and coming players to strive for excellence in cricket for Pakistan in particular and for the world at large; 4)An eco-system for the promotion of sports through close partnerships with the respective sports boards; 5)A truly professionally-run organization with exceptional standards of corporate governance and international best practices; 6) Promotion of Pakistan through sports and involvement of internationally known figures into Pakistan; 7)A responsible member on CSR.
IBA AMAN CED LAUNCHES BUSINESS INCUBATION PROGRAM
The orientation ceremony for this new women entrepreneurship initiative, which IBA AMAN CED has launched in collaboration with Aurat Foundation under their Gender Equity Program (GEP) sponsored by the USAID; was held on Wednesday, at IBA AMAN CED.
The program will mark the beginning of a certificate program designed especially for women home based workers in Karachi and Quetta. This program is IBA AMAN CED’s humble effort towards facilitating Pakistani women to develop and foster an entrepreneurial mindset, enabling them to pursue entrepreneurial opportunities.
Fifty highly skilled women have been selected for this particular program; who have a zeal to start their own businesses and are extremely thrilled to have found such an opportunity.
Introduction of the Program was then given by Ms. Soha Zulfiqar, Manager-Women Entrepreneurship Program, who briefly explained about the program and pointed out the pertinent need of this program for women. She shed light on the concept behind this initiatives through explaining the aims, objectives and expected outcomes of the program. She also mentioned that the duration of this program is 28days, 3 days a week from 9:00AM to 2:00 PM. Another refreshing element of the program is that it will be taught in our National language Urdu, so that the female participants’ learning outcome is maximum.
Following this, a welcome address by the Program Director Dr. Shahid Qureshi was given. He said that, ‘We hope to empower the women and youth of Pakistan and IBA will keep playing a significant role through its many initiatives in that direction’. Additionally Dr. Shahid Qureshi told the participants that 2014 was the year, when IBA initiated this Women Entrepreneurial Program. And he also mentioned that another achievement has been unlocked by IBA AMAN CED, which is IBA Karachi winning USASBE’s coveted award for Excellence in Entrepreneurship Education 2017. United Association for Small Businesses and Entrepreneurship (USASBE) has named IBA Karachi’s Womenx (a World-Bank funded) Program as 2017’s Outstanding Specialty Entrepreneurship Program Award Winner. It was for the first time that a university outside the US has won this prestigious award.
Deputy Chief of Party Aurat Foundation, Ms. Mahpara Shakil also addressed the audience and narrated the hurdles, which they faced during formulating the program.
Taking it a step forward Ms. Mahpara briefed the participants about the program that GEP is in its 7th year with USAID, which started back in august 2010 and will be ending this year in August 2017. Aurat foundation has been granted 280 grants in 7 years via 12 cycles some of which are still in process. GEP revolves around 4 main characteristics which includes: Access to justices, Combating gender based violence, empowerment of women at workplace and Capacity building of institutions that advocate gender equity. She spoke about the merits of the program and narrated a few success stories of how this program has empowered women to overcome the gap between males and females.
Ms. Mehnaz Rehman also made a valuable contribution by stating that, “Theory isn’t the only mandatory requirement for the practical world. What is needed more are the skills.” She also mentioned that the home-based workers are now a legal entity and will be given the rights too, as per ILO laws.
Mr. Jami Moiz, the acting registrar of IBA Karachi welcomed the participants in the end and said that the IBA has come full circle, from a premium business school to coaching females from the disadvantaged sector of our society, IBA is playing its role in empowering the women and youth of our society. He urged the female participants to learn the skills at IBA, in order to support their family and the country.
LORD MAYOR OF LONDON VISITS IBA KARACHI
The Lord Mayor of the City of London Alderman Dr. Andrew Parmley visited the IBA City Campus to give a lecture on finance and culture, in the context of recent changes taking place. The Lord Mayor is also closely involved in culture and the creative industries. Currently the 689th Lord Mayor of the City of London, Mr. Parmley was educated from Blackpool Grammar School, the Royal Academy of Music, Manchester and London Universities and Jesus College, Cambridge. He is the City Champion for the Prime Minister’s Apprenticeship Delivery Board, Fellow of the Royal College of Organists and Trinity College, London and an Honorary Fellow of the Guildhall School of Music & Drama.
The Distinguished Lecture at the JS Auditorium commenced with recitation of verses from the Holy Quran. Dr. Sayeed Ghani, Acting Dean and Director IBA, and Mr. Shahid Shafiq, Member Board of Governors, then invited the esteemed guests Dr. Parmley, Lord Mayor, Ms. Belinda Lewis, British Deputy High Commissioner to Karachi, and Mr. Alderman & Sheriff Peter Estlin.
Lord Mayor of the City of London Alderman Dr. Andrew Parmley expressed his delight on being here in Karachi and getting the opportunity to address the students and faculty members of one of the leading educational institutes in Pakistan. He stated that IBA has an excellent educational heritage, both for Pakistan and other countries. Since he himself is an educator and is involved in finance, he also said how the basis of good education is good business. Speaking about how London is a hub of world trade and has remained so for centuries, he mentioned how a lot more than a good product is required to be prosperous; determination, staying ahead of the curve and above all, remaining nimble are equally significant. These lessons are especially relevant to the UK, since the recent Brexit vote has led to many questions. ‘My personal view is that London has been the number one place for international finance transactions and will remain so,’ said Dr. Parmley.
In addition, the finance sector employs more than 2 million people in the UK. Dr. Parmley said that nowhere else in Europe can investors find such a concentration of services, underpinned by a globally renowned justice system. Furthermore, the UK has a reputation of being an economy driven by knowledge. Since the Brexit vote, companies like Facebook, Google have announced further investments here; this is a sign that London will not lose its economic important post-Brexit. From the industrial revolution to the smallest of startups, the UK has always been nurturing and enhancing growth. He also mentioned how London has been evolving over time; it is one of the most forward looking cities in the world. ‘Even if Britain leaves the European Union, we will not turn our back on the EU,’ said Dr. Parmley. ‘We are a permanent member of the UN Security Council, a major contributor of NATO, and a member of the G7 and G20.’
He also spoke about how Pakistan and the UK collaborate on a variety of sectors. UK’s largest bilateral educational program is administered here in Pakistan. This is a £800 million investment which has reduced the number of children out of school, and introduced public-private partnerships. The British Council center in Karachi is also one of the largest British academic centers in the world. Additionally, 90 British universities participated in the higher education fair held last year in Karachi, Lahore and Islamabad catering to over 3000 students. This helps in supporting inquisitive, young minds across Pakistan. Yet, there is still a lot more which can be done. Dr. Parmley further elaborated, ‘Working together we can improve the speed of vocational training programs, we can train future captains to make the most of CPEC and we can increase the appreciation and appetite for high quality education such as that offered by the IBA and UK institutes.’ The city of London and the UK itself are willing to work with Pakistan to turn this huge potential into a huge opportunity.
After this, the floor was opened for questions from the students. Questions were asked about the potential of microfinance and the election of Donald Trump and its impact on UK-USA relations. To the latter, Dr. Parmley replied stating it is too early to say anything right now. Nevertheless, politics is the backdrop to financial activity. Former President Barack Obama had said that the UK is in the back of the queue, whilst President Trump said UK is in the front of the queue, which suggests that relations might get more strengthened. Talking about CPEC, he also mentioned its strategic importance to China and Pakistan. Whilst the UK does not have as much capital as China, the UK is willing to invest in other countries.
Another question was also raised regarding the financial position of London Post-Brexit. To this Dr. Parmley replied that it is unlikely that the UK will lose a large number of jobs – it is estimated that by 2030, 575,000 people will be commuting to London. The prevention of cyber-crime has the potential to become a huge industry in the future, there are also 20 banks in London dealing with Shariah compliant services, whilst 17 universities are teaching courses in Islamic finance. The final question was about the work visa policy towards Pakistani students. Dr. Parmley said that this policy encourages a waste of talent and that he will bring up this issue with the British Prime Minister Theresa May. Being a Cultural Ambassador for the London Symphony Orchestra, he concluded his lecture by stating that music is very important to the quality of life, and quality of life is something very important for the citizens of London.
Mr. Shahid Shafiq then presented a Memento to the Lord Mayor, along with a Sindhi cap and an ajrak shawl, which is symbolic of Pakistani culture. Dr. Sayeed Ghani awarded plaques and ajrak shawls to Ms. Belinda Lewis and Sheriff Peter Estlin.
USASBE NAMES IBA KARACHI’S WOMEN ENTREPRENEURSHIP PROGRAM AS 2017
The United States Association for Small Business and Entrepreneurship (USASBE) named IBA Karachi’s Women Entrepreneurship Program the recipient of the 2017 Outstanding Specialty Entrepreneurship Program. USASBE is internationally recognized as the premier association for entrepreneurship education and has ranked entrepreneurial programs since 1990.
Dr. Shahid Qureshi, Program Director AMAN CED received the award on behalf of IBA at the ceremony held on 21st January 2017 at Philadelphia, Pennsylvania. The Outstanding Specialty Entrepreneurship Program Award is given to a college or university that has developed and currently still offers a high quality and innovative program, the purpose of which is to educate and train future generations of entrepreneurs in a niche or specialty area. This award is given each year for an exemplary program that reflects innovation, quality, comprehensiveness, sustainability, depth of support, and impact. IBA Karachi representing Pakistan was competing with international universities in the quest for this award. The other two finalists were WIN Lab, Babson College and Meadows School of the Arts, Southern Methodist University. After a tough competition, by the Grace of Allah the laurel has been awarded to IBA Karachi. This is the first time in the history of USASBE awards that a university outside USA has won this particular award.
IBA AMAN CED takes this opportunity to thanks Almighty Allah, our patrons Dr. Farrukh Iqbal and Dr Ishrat Husain who played instrumental role in the initial stages of this program. We would also take this opportunity to show gratitude to the World Bank Group for sponsoring the program and Enclude Solutions our partners in the program for their patronage. Moreover, this could not have been possible without the able leadership of our Program Director, Dr. Shahid Qureshi, IBA AMAN CED’s Team and the esteemed Faculty.
IAMKARACHI & TPL SIGN MOU
(IAMKARACHI (IAK) and TPL Maps, Pakistan’s first digital mapping solution, part of TPL TRAKKER Limited (TPLT) signed an MOU at the Centre point, signalling the commencement of a partnership aimed to enrich the culture and physical spaces of Karachi, Pakistan.
This MOU was signed by both parties to put the IAK Walls on the map, literally. TPL Maps will plot the IAK Walls on their Mobile/Web applications as a landmark visible to everyone. The Walls will be marked with specific coordinates and accurate images, to signify the importance of the program and to increase the visibility within the city of Karachi and visitors alike.
The IAK Walls movement has been a raging success for the past two years, and has inspired multiple campaigns that follow a similar model to counter hatred and violence in Karachi. This year, the programs that be inspired have travelled to other cities as well, including Lahore. However, this is the first instance of these walls being listed on the Pakistan’s first indigenous Digital Mapping solution, TPL Maps, as identifiable landmarks.
Mr. Adeel Hashmi, the Head of Maps at TPL, Ms. Ambareen Main Thompson, Executive Director of the Society for I AM KARACHI and Ms. Rumana Husain, Executive Committee Member IAK and prolific children’s writer signed the documents, signalling the beginning of what shall prove to be a blossoming partnership.
“We’re very proud of this achievement, the fact that the walls will now be a part of the blueprint of this city, available to one and all is very heartening. Hopefully, this alliance with TPL Maps will prove to be beneficial for IAK, TPL and above all, for Karachi and its citizens”, Ambareen Main Thompson, Executive Director, I AM KARACHI.
Commenting on this partnership, Adeel Hashmi, Head of TPL Maps stated, “We attempt to use our experience in technology in digital mapping to preserve culture and heritage of the country which is part of our overall strategy of providing a comprehensive digital mapping solution of Pakistan. This is the first major step in this direction and we look forward to many such partnerships to document the entire heritage of Pakistan, digitally”
BONUS DISTRIBUTION OF NBP FULLERTON ASSET MANAGEMENT LIMITED – NAFA
Karachi, NBP Fullerton Asset Management Limited informed Pakistan Stock Exchange that the Chief Executive Officer, under the authority granted by the Board of Directors, on January 20, 2017 has approved bonus distribution for the following funds:-
1- NAFA Islamic Principal Protected Fund – I
2- NAFA Islamic Principal Protected Fund – II
3- NAFA Islamic Principal Preservation Fund
Unit Holders as at the close of business on January 19, 2017 will be entitled to the distribution.
NAFA is a Non-Banking Finance Company with a license to perform Asset Management and Investment Advisory Services as per the NBFC Rules, 2003 and Pension Fund Management as per Voluntary Pension System Rules, 2005. The main sponsors of NAFA are National Bank of Pakistan and Fullerton Fund Management Group, Singapore, which in-turn is a wholly owned subsidiary of Temasek Holdings, Singapore. NAFA’s main area of business is Investment Management; more specifically floating and managing mutual funds and pension funds, providing investment advisory, discretionary and non-discretionary portfolio management services. NAFA is presently managing 21 open ended mutual funds, 2 pension funds and several investment advisory portfolios with total assets under management of over Rs.92 Billion (As of January 24, 2017).
Based on proficient management team, sound quality of systems and processes, sponsors’ strength, diverse product base and performance of funds under management, PACRA has given NAFA rating of AM2++ (High Investment Management Standards).