TCF ADP CERTIFICATE CEREMONY HELD
A certificate distribution ceremony, conducted by the TCF Ambassadors at IBA, was held on 25th August, 2017. The session primarily intended to appreciate the efforts of, and express gratitude to the volunteers, students and IBA admin who participated in TCF Alumni Development Programme (ADP).
The session started off with Mr. Riaz Kamlani, the Vice President of TCF, informing the audience on the history of TCF as it evolved from teaching primary school kids to successfully expanding to include the Alumni Development Programme (ADP), which now prepares students for admission in top tier Pakistani universities.
He commended both the underprivileged students enrolled in the Programme and the student volunteers for the time they had invested in TCF. He then elaborated on the message he wanted to convey to each of the student bodies. To the TCF ADP students, he impressed upon the importance of hard work, while to the volunteers, he brought to their attention the multifaceted benefits of being a part of this Programme, how it led them to not only experience the valued joy of giving, but also, allowed them to gain professional skills in management related activities. Riaz Kamlani also thanked the executive administration of IBA, including Dr. Nasir Touheed, TCF Ambassador at IBA and his team, for their continued and unwavering support behind the Alumni Development Programme, since its initiation at IBA. Being both an IBA alumni and the Vice Chancellor of TCF, he emphasized on how each held a special place for him, ’IBA dreams big, and TCF also dreams big,’ he said, with a proud smile on his face.
Following this address, Osama Sajid and Muskan Amjad, both former students of TCF ADP now enrolled in IBA and GIKI respectively, Saad Ahmed, a volunteer who taught Level 1 and Tehreem Jahan, a member of the management team, were called on stage to talk about their struggles and experiences. This helped the audience to gain perspective of TCF ADP as a whole; from the student’s sides, Osama talked about his work ethic at TCF classes before taking the entrance exam at GIKI, while Muskan expressed gratitude to the volunteers who had helped her reach where she is now, a student at IBA. And from the volunteers’ and administration’s side, Saad chimed in with his thanks for having been given an opportunity like this, and Tehreem spoke about her responsibilities while at TCF.
The certificates were then distributed to all those who had volunteered in their various capacities and to a few TCF students who had earned a top place in their level 2 ADP education. Each set of certificate distribution was punctuated with thunderous applause from the audience as row after row of volunteers received their hard earned certificates.
In the ceremony Dr. Nasir Touheed also received a special token of appreciation in the form of an award for being the driving force for the TCF program and for the unparalleled efforts put in by him. The IBA administration was also awarded a similar award for facilitating and furthering the cause of the ADP.
The event concluded with a final statement from the Dean of IBA, Dr. Farukh Iqbal. In his statement he recalled how initially, while taking over his role in the administration, when he was briefed over this Programme he did not fully realize the scope and influence of TCF ADP. However, with increasing interaction with the representatives, volunteers and students, and especially after this ceremony he was very pleased to discover how vast and increasingly influential this program is, and how it is transforming the lives of underprivileged and privileged students. He ended his note by congratulating all participants of ADP and finished by saying, ’I will keep supporting this effort from my side.’
PAKISTAN ENTREPRENEURS SUPPORT VISION 2025 GOALS OF $150 BILLION IN EXPORTS
With Pakistani entrepreneurs and startups playing a key role in fostering USD 150 billion in exports by 2025, one of the world’s leading entrepreneurship platforms has selected 20 innovators from Pakistan and the Middle East to drive global best practices in this region.
At the first-ever ChangemakerXchange Summit for entrepreneurs from across the Middle East, sponsored by social entrepreneurship platform Ashoka and digital transformation enabler SAP, 20 entrepreneurs were selected to receive access to fundraising, resources, and mentorship at a regional and global level. At the event, 18 regional entrepreneurs attended, while two additional Syrian entrepreneurs were also selected as Changemakers but could not attend.
As part of the China-Pakistan Economic Corridor, the Pakistani government supports entrepreneurs and startups to achieve the Pakistan Vision 2025 goal of USD 150 billion in exports by 2025.
“In line with the Pakistan Vision 2025, Ashoka and SAP are supporting Pakistani entrepreneurs who want to make a positive difference in society. By exchanging global best practices in knowledge and innovation, Pakistani entrepreneurs can expand their projects to reach a wider audience,” said Gergi Abboud, Managing Director for SAP Gulf, North Africa, Levant, and Pakistan.
For people with disabilities in Pakistan, Tanzila Khan’s Creative Alley promotes talent and capacity building through arts and culture activities and social events. In Pakistan, Madeeha Raza became a Changemaker for the women-empowerment program Women Through Film, Azeem Hamid’s Independent Theatre Pakistan and Saad Hamid’s School of Skills support youth development.
“Through the ChangemakerXchange program, I’ll be able to collaborate with regional organizations to promote people with disabilities’ hidden potential in the creative arts and help them reach their dreams,” said Tanzila Khan, Founder of Creative Alley.
Regional Entrepreneurs Take Projects to the Next Level
In the UAE, Noha Mahdi’s The Mawada Project offers community service learning programs for children aged 9-18, and has touched the lives of more than 500 people.
“Becoming an Ashoka ChangemakerXchange alumna is helping my coordination with fellow Changemakers in using education to support youth development across the Middle East, and build empathy and goodwill,” said Noha Mahdi, Founder of The Mawada Project.
Mohammed Alaqil’s Saudi Antibiotics Integrated Regulatory Program (SAIR) medical research program is partnering with leading universities to research anti-microbial resistance.
“By joining Ashoka ChangemakerXchange, I’ll be able to bring together the global healthcare community to fight anti-microbial resistance, optimize healthcare budgets, and enhance citizen health,” said Mohammed Alaqil, Founder of the Saudi Antibiotics Integrated Regulatory Program.
In Egypt, Dahlia Elorabi’s Baladini program supports rural woman in producing healthy food.
“As a Changemaker, I’ll be able to scale up Baladini’s support for Egyptian farmers to grow nutritious food, their economic participation, and cross-cultural exchange,” said Dahlia Elorabi, Project Manager at Baladini.
Three Lebanese participants are now global ChangemakerXchange alumni: Nour El Assaad, whose No Label project empowers people against bullying, Hadi Fathallah, whose Recyclo provides a digital recycling program, and Layal Jebran, with the Moubarmij Arabic technology e-learning platform.
In Jordan, Nour Al Alajouni’s Matar Project supports blind people, and Afnan Ali’s Eureka Tech Academy supports tech entrepreneurs. In Palestine, Tariq Assidi’s Jalees project provides books to low-income families; and Shyrine Ziadeh’s Ramallah Ballet Centeruses dance for empowerment.
Among projects in Egypt, Abdulrahman Nassar’s Eco Travel Egypt promotes environmentally-sustainable travel, and Alyaa Nour’s Jereed program turns palm waste into high-quality furniture.
Additional Middle East Changemakers include Ahmed Alaali’s The Hiverobotics hackerspace in Bahrain, and Zanyar Salih’s Gift a Life project educates Iraqis on organ donation.
The Summit was facilitated by Greta Rossi from Italy, whose Akasha Innovation supports young changemakers; Tariq Al Olaimy from Bahrain, whose 3BL Associates think tank accelerates sustainable development, and Raphaëlle Ayach from Egypt, whose Safarni fosters global citizens.
NATIONAL BANK OF PAKISTAN HALF YEARLY FINANCIAL RESULTS – JUNE 30, 2017
Meeting of the Board of Directors (BoD) of National Bank of Pakistan (Bank) was held on August 24, 2017 at the Bank’s Head Office in Karachi in which the BoD approved the financial statements of the Bank for half year ended June 30, 2017.
Half yearly operating income of the Bank amounted to Rs. 41.7 billion (June16 : Rs. 41.8 billion). Bank’s net interest / mark-up income for the half year amounted to Rs. 26.4 billion (June16: Rs. 27.6 billion) due to lower yield on Government securities. Non-interest / mark-up income for the half year recorded growth as it amounted to Rs. 15.3 billion (June16 : Rs. 14.2 billion). The Bank maintained interest/mark-up earning for the period by managing an efficient asset-mix of loans and investments. After-tax profit for the six months period amounted to Rs. 8.6 billion (June16: Rs. 9.5 billion). This translates into earnings per share of Rs 4.02. Profitability of the bank remained under pressure during the period on account of lower interest rates and maturity of high-yielding Pakistan Investment Bonds (PIBs).
During this period, the Bank achieved a growth milestone as its balance sheet size increased to Rs. 2.32 trillion i.e. 18% up against Rs. 1.98 trillion of December 2016. As of June 30, 2017 Bank’s deposits amounted to Rs. 1,740 billion being 5% up against that of December 2016; whereas gross advances also increased to Rs. 836 billion i.e. 7% up as compared to December 2016.
The Bank has recently redesigned its business model and delivery strategies introducing modern-day banking concepts. Customer service quality, provision of services through alternate delivery channels and e-banking products will become key areas of focus for the Bank.
METRO CASH & CARRY PAKISTAN LAUNCHES FRESHLY STORE
METRO Cash & Carry Pakistan opened its door for customers to its second FRESHLY Store located at Bahria Town Lahore after the success of the first store in Allama Iqbal Town Lahore few months earlier. The store is part of a series to introduce the new retail based concept that METRO Cash & Carry has brought forward to facilitate its customer base and will be spread all over the country in the near future.
The store was inaugurated by Mr. Marek Minkiewicz, Managing Director, METRO Cash & Carry Pakistan, said “Continuing with the tradition of bringing innovation and setting up Modern Retail in Pakistan, Now launched FRESHLY as a Retail Franchise concept. Equipped with wealth of experience, knowledge, and global best practices, METRO Cash & Carry would provide an opportunity to entrepreneurs and traders to modernize the retail outlets, resulting in the customers ultimately benefitting from wide range of products and services with quality endorsed.
The customers from all walks of life present, appreciated the FRESHLY assortment, price, quality of the products, and in particular the freshness of available Meat items, Fruits, and the Vegetables, that has been a trademark of METRO Cash & Carry stores in Pakistan.
METRO Cash & Carry Pakistan believes in the FRESHLY way of Living by helping to make life more enjoyable by providing convenient and quality products in neighborhood.
Caption: METRO Cash & Carry Pakistan opened its second FRESHLY Store at Bahria Town Lahore after the success of the first store in Allama Iqbal Town Lahore. Seen in the picture is Mr. Marek Minkiewicz, Managing Director, METRO Cash & Carry Pakistan with Senior Operations Leadership and Freshly team.
MCB BANK ANNOUNCES FINANCIAL RESULTS FOR THE HALF YEAR ENDED JUNE 30, 2017
The Board of Directors of MCB Bank Limited, met under the Chairmanship of Mian Mohammad Mansha, on August 25, 2017 to review the performance of the Bank and approve the financial statements for the half year ended June 30, 2017.
During the half year ended June 30 2017, MCB Bank posted profit before tax of Rs. 17.73 billion and profit after tax of Rs. 13.69 billion. In comparison with the corresponding period last year, profit before tax has decreased by 6.23% whereas profit after tax has increased by 27.81% on account of reversal of prior year tax charges. Net markup income of the Bank was reported at Rs. 20.05 billion, down by 14.30% over corresponding period last year, owing to the maturity of high yielding bonds and low interest rate environment.
On the non-markup income front, the Bank reported a base of Rs. 9.68 billion with exceptional growth of 59.76% over corresponding period last year. Major contributions to non-markup income growth are fees & commissions, capital gains and dividend income.
The administrative expense base (excluding pension fund reversal) recorded an increase of 15.43% over corresponding period last year. On the provision front, the Bank continued with its recovery trajectory and posted a reversal in provision against advances of Rs. 1.95 billion in first half of 2017.
The total asset base of the Bank was reported at Rs. 1,321.01 billion reflecting a healthy increase of 25.59% over December 2016. Analysis of the asset mix highlights that net investments have increased by Rs. 194.16 billion (+34.93%) with net advances increasing by Rs. 41.66 billion (+11.97%) over December 31, 2016. The coverage and infection ratios of the Bank were reported at 78.76% and 5.52%, respectively.
On the liabilities side, the deposit base of the Bank recorded an exceptional increase of Rs. 110.12 billion (+14.09%) over December 2016, outperforming the industry growth number by a significant margin. MCB Bank Limited continued to enjoy one of the highest CASA mixes in the banking industry of 94.03% with strategic focus on current deposits (+24%) and savings deposits (+7%) over December 2016. The concentration level of no-cost current accounts has increased to an all-time high of 41% of the total deposit book.
Earnings per share (EPS) for the period came to Rs. 12.30 as compared to Rs. 9.62 for same period last year. Return on Assets and Return on Equity were reported at 2.31% and 22.82% respectively, whereas book value per share stood at Rs. 109.65.
The Bank remained a well-capitalized institution with a capital base well above the regulatory limits and Basel capital requirements. While complying with the regulatory capital requirements, the Bank has the highest cash dividend per share in the industry with regular interim dividends and remains one of the prime stocks traded in the Pakistani equity markets. Bank’s total Capital Adequacy Ratio is 17.43% against the requirement of 10.65% (including capital conservation buffer of 0.65%). Quality of the capital is evident from Bank’s Common Equity Tier-1 (CET1) to total risk weighted assets ratio which comes to 15.36% against the requirement of 6.00%. Bank’s well capitalization also resulted in a leverage ratio of 7.27% which is well above the regulatory limit of 3.0%. The Bank enjoys highest local credit ratings of AAA / A1+ categories for long term and short term respectively, based on PACRA notification dated June 19, 2017.
The Board of Directors declared 2nd interim cash dividend of Rs. 4.0 per share for the half year ended June 30, 2017, which is in addition to Rs. 4.0 per share interim dividend already paid to shareholders.
MCB BANK LAUNCHES 3D PROJECTION MAPPING SYSTEM AS PART OF BANK’S 70TH ANNIVERSARY CELEBRATIONS
MCB Bank, one of the largest & most innovative banks in Pakistan, recently launched a state-of-the-art 3D Projection Mapping System at the MCB Center in Lahore. The 3D Projection Mapping System was inaugurated in an elaborate ceremony by Chief Guest, Mian Mohammad Mansha as part of MCB Bank’s 70th Anniversary celebrations.
During the projection showcase, a variety of patriotic images featuring notable personalities from the Pakistan Movement, 3D animations, audio-visual content related to Pakistan’s 70th Independence Day, the MCB anthem performed by Ustad Nusrat Fateh Ali Khan and other content was displayed on the main façade of the MCB Center Building, which was viewable by onlookers from miles away.
Speaking about the new 3D Projection Mapping System, Mr. Faisal Ejaz Khan, CIO MCB Bank said, “3D projection provides us a new platform which can be used for enhancing the Bank’s corporate brand image, product campaigning, awareness creation and promotion of public narrative or social causes. MCB Bank is embracing new digital marketing platforms to enhance engagement with our customers in ways which were not possible before. This initiative is an extension of the Bank’s efforts to further augment the outreach of our digital banking services.”
Speaking about the new technology and the potential it holds, Mr. Hassan Nawaz Tarar, Group Head Security & Marketing MCB Bank said, “3D Projection Mapping is a fusion of technology, art and architecture and holds immense potential to create instant word of mouth and strong brand recall. We intend to use this exciting new technology to create greater awareness of our important marketing initiatives in a uniquely refreshing and innovative way.”
Also known as Spatial augmented reality, 3D projection mapping technology is used to turn objects into a display surface for video projection. By using super hi definition projectors, specialized software, a two/three dimensional object is spatially mapped on the virtual program which mimics the real environment, it is to be projected upon. These techniques are usually used by artists and marketers to add extra dimensions, optical illusions, and notions of movement onto previously static objects.
MAHVASH & JAHANGIR SIDDIQUI FOUNDATION RENEWS ITS COMMITMENT TO ACUMEN PAKISTAN
Mahvash and Jahangir Siddiqui Foundation (MJSF) has announced a $1M commitment to support Acumen’s Pakistan Fellows program and it’s Pakistan Fund over the next five years. The partnership with Acumen, a non-profit social venture fund, will support Pakistan’s emerging leaders and catalyse social and economic development through business.
Acumen and MJSF have worked together to tackle the problems of poverty in Pakistan for more than a decade now. Over the last 15 years, Acumen has invested $16M in 16 companies in the country, impacting 4.8M lives. MJSF and JS Bank were one of the first to support Acumen’s presence in Pakistan.
The Acumen Fellows program is a leadership development program that equips emerging social leaders around the world with the skills, knowledge and moral imagination to drive change in their communities. The Pakistan Fund, with the support of its anchor partner MJSF, will invest in early stage companies that improve the lives of the poor by developing and deploying innovative business models in education, energy, health care and agriculture.
“MJSF’s continued support allows Acumen to invest in dynamic leaders, companies and ideas that are helping to eradicate poverty and impacting lives across the country,” said Mr. Naeem Zamindar, Acumen’s Pakistan Director. “Mr. Ali J. Siddiqui has played a pivotal role in establishing Acumen here in Pakistan. His support has been instrumental in helping Acumen grow and deepen its impact across the country.”
Mr. Muhammad Ali Charanya, COO MJSF, said “Sustainable development is one of the focus areas of MJSF and our partnership with Acumen has enabled us to work on several specialised projects including Jassar farm, PharmaGen, and low cost housing projects that otherwise would not have been possible. Moreover, collaboration has helped develop many young and dynamic entrepreneurs to enter into the social impact sector.”
The Mahvash and Jahangir Siddiqui Foundation is a non-profit organization that has been working towards healthcare, education and social enterprise through sustainable development to underprivileged members of society with a special focus on women, minorities, children and disabled individuals. Foundation’s goal is to promote economic development and to enhance the dignity and quality of life of individuals, families and communities by eliminating barriers to opportunity and helping people in need reach their fullest potential.
K-ELECTRIC PAYS TRIBUTE TO DR. RUTH PFAU
K-Electric has paid tribute to Dr. Ruth Pfau, founder of the Marie Adelaide Leprosy Centre (MALC) in Karachi.
According KE spokesperson, “The power utility had the honor to work with Dr. Ruth Pfau in her capacity as the founder of MALC in Karachi, which is KE’s first Social Investment Programme (SIP) partner. KE pays tribute to Dr. Pfau’s untiring and selfless devotion towards humanitarian work and she will always be remembered as the pinnacle of empathy and dedication.”
It is pertinent to note that Dr. Pfau was also the recipient of KE’s Pride of Karachi award among numerous accolades she received for her services. KE’s partnership with MALC goes beyond just the provision of free of cost electricity to MALC’s centers in Karachi. Over the years, the leading leprosy center also participated in KE’s customer facilitation camps providing free healthcare services.
FEDERAL MINISTER FOR COMMUNICATIONS VISITS NHA TAKES BRIEFING ON CPEC PROJECTS
The Federal Minister for Communications Hafiz Abdul Karim visited the National Highway Authority head office where Chairman NHA Shahid Ashraf Tarar gave a detailed briefing to the Minister about China-Pakistan Economic Corridor (CPEC) and other motorway projects.
The Chairman informed the Minister that 13 Motorway projects worth Rs. 1300 billion were under execution in different parts of the country. These projects, he said, would be completed during the next two years, taking the overall length of motorway network in the country to around 2400 km. He informed that Hazara Motorway (E-35), Lyari Expressway (32 km), Karachi-Hyderabad Motorway (136 km) and Rathodero-Khuzdar Motorway (M-8) will be completed this year. Similarly, a number of other important projects including Gojra-Shorkot (62 km), Shorkot-Khanewal (65 km), Lahore-Abdulhakim Motorway (230 km) and Dera Ismail Khan-Hakla section of Western Corridor (285 km), Lahore Eastern Bypass (16 km) and Chakdara-Kalam highway will be completed in 2018. Similarly, Havelian-Mansera (39 km) and two sections of Multan-Sukkur Motorway and would be completed before June 2018.
He said three more projects namely Naukundi-Mushkel-Panjgur (90 km), Gilgit-Shindor-Chitral (364 km) and Mirpur-Muzaffarabad-Mansehra (228 km) would be added to CPEC in coming JCC meeting.
He informed the Minister that for the first time in country’s history, highway projects around Rs. 350 billion were awarded on Built-Operate-Transfer (BOT) basis through active participation of the private sector. This included Sukkur-Hyderabad Motorway (M-6), Karachi-Hyderabad Motorway and up gradation of Islamabad-Lahore Motorway. He said earnings from these projects were expected to cross over Rs.300 billion.
BRAINCHILD COMMUNICATIONS PAKISTAN AND RED COMMUNICATION HOLD DIGITAL OR DEATH WORKSHOP
Brainchild Communications Pakistan in collaboration with RED Communication Arts organized an exclusive workshop titled Digital or Death. The workshop was conducted by the renowned digital transformation specialist Dr. Ira Kaufman and catered to the C-Suite management of several FMCGs, MNCs, banks and businesses based out of Lahore, Pakistan.
To expand the horizons of digital transformation in Pakistan, Brainchild Pakistan is the first company of its kind to speak to senior executives of leading businesses regarding the importance of digital. The workshop focused on the valuation of digital transformation’s current state as a global buzzword, big data processes that reach beyond digital buying scopes and where Pakistan fits in the ’Challenge Market’ and, the global digital map. Talking about Brainchild’s efforts towards the digital landscape of Pakistan, the Group Chairman Mr. Raihan Merchant stated “As #AOTF [Agency of the Future], we will lead the solution provision based on relevant analytics and innovative methods to create Human Experiences resulting in positive brand sale.”
The workshop was designed around discussing the dilemma of digital transformation to outline several learning tools and challenges within the Pakistani market. Dr. Ira Kaufman explained how executives globally are threatened by a negative VUCA environment (volatile, complex, uncertain, ambiguous) which needs to be reframed into a positive one (vision, unlimited/ unleash, collaboration/co-creation and abundance/ assurance). He questioned how market leaders in Pakistan are preparing their teams to leverage the vast opportunities. Delving deep into the topic, Dr. Ira Kaufman stated, “Business leaders in Pakistan must reinvent themselves as Digital Transformers. Change the way you view change because successful companies in the future will be required to drive social impact as well as profit.”
During the course of the workshop, Tariq Qureishy, a Harvard Alumnus and CEO – Madtalks, set the context and tone, through a view into the future. He demonstrated disruption and showcased a future in which technology will surpass human capacity in terms of logic and performance, but never in terms of emotional intelligence.
The workshop was attended by a number of C-Suite Executives of Pakistan, discussing the exponential path to the future.
Concluding the workshop, Farhan Khan, COO at Starcom Pakistan stated, “We at #AOTF aim that market leaders in Pakistan will embrace the change using Data and Technology to build brand strategies based on consumer and market insights.”