'SILKBANK WILL BE IN TOP THREE WITHIN NEXT THREE YEARS'
INTERVIEW WITH SEVP/GROUP HEAD SPECIAL ASSETS MANAGEMENT SILKBANK
Aug 24 - 30, 2009
Mr. Kasim Feroze Khan is one of the leading bankers in Pakistan. He belongs to a respectable family. His father Feroze Ahmed Khan is retired Commissioner. One of his brothers Tariq Feroze Khan is sitting Director General Social Welfare Punjab, while his two brothers are senior health professionals.
He was a promising cricketer. He was just 12 year when his name was recorded in the Guinness World Records in 1970-71 as the youngest first class cricketer. He was left arm leg spinner and had the honour of playing cricket with leading cricketers including Hanif Mohammad, Tasleem Arif, Javed Miandad, Mudassar Nazar, Azher Khan, Zaheer Abbas, etc., He undertook tour of England as member of Under-19 Squad of Pakistan Cricket Team.
Mr. Kasim Feroze Khan, after graduating from Government College Lahore, joined the UBL as Grade-II officer, when he was studying in the same College as student of MA Economics. He is currently Senior Executive Vice-President/ Group Head Special Assets Management of Silkbank.
Sharing his past memories in an interview with Pakistan and Gulf Economist, Mr. Kasim Feroze Khan, said he had passion for cricket and remained part of the UBL cricket team during the job. He said he represented the team of Bahawalpur Division in 1970-71 in first class matches against Karachi-Whites and PIA. He was also active member of the Government College Cricket Team and has sweet memories in the College with class mates including sitting Punjab Chief Secretary Javed Mahmood and others including Nasir Khosa.
Mr. Kasim Feroze Khan said he served in the UBL in different positions and left the bank in 1996 when he was Zonal Chief. He said he joined the Union Bank in 1997 and worked devotedly in different positions. Afterward, he said he served in Standard & Chartered Bank for about two years as Country Head Special Projects.
Mr. Kasim Feroze Khan said, "Silkbank - is a name with a meaning that endorses our values. The name takes its inspiration from 'Silk', a natural element known for its unique properties". "Our inspiration also comes from the Silk route which has been a corridor for trade and commerce between Asia and the rest of the world for centuries," he said.
"Our vision is to establish Silkbank as the benchmark of excellence in the banking industry, and be the bank of choice for our target market," he said. A team of highly dedicated and talented professionals is determined to place the Silkbank among top three banks of the country within next three years.
Mr. Kasim Feroze Khan further said that Silkbank stands for reliability, our institutional sponsors Nomura, IFC and Bank Muscat provide us with strong financial backing and a framework of good corporate governance, which will remain our guiding principle to cultivate trust and transparency with our customers, regulators and partners.
All our initiatives are aimed at attaining "Service Leadership" and we will make our service truly unmatched. "It is our commitment to be a responsible corporate citizen, to support charitable causes and to give back to the communities where our staff members live and work. Silkbank is proud of being a conscientious and responsible corporate institution with a commitment to the development of Pakistan. At Silkbank our employees are encouraged to give back to society and we have made concerted efforts towards the development of healthcare, education, sports and constructive character building of youth in the underdeveloped segments of our country," he said.
It may be mentioned that on March 31, 2008, a consortium comprising of IFC, Bank Muscat, Nomura International and Sinthos Capital led by senior bankers Shaukat Tarin and Sadeq Sayeed acquired stakes in Silkbank. Mr. Kasim Feroze Khan said the Silkbank would continue to focus on SME & Consumer financing resulting in efforts of increased profitability. He said the bank was going to launch consumer products and credit card by October this year.
Sharing his views about issues confronted to banking industry, he said the banking industry was exposing fast to the issue of non-performing loans (NPLs) and the banking sector had concentrated its full attention to the emerging issues.
Mr. Kasim Feroze Khan said: "It is high time to implement the Recovery Ordinance 2001 in letter and spirit to effectively deal with the issue of NPLs." He said a clear-cut line should be drawn between the circumstantial and willful defaulters immediately to save the banking industry from problems.
He further said the bank was operated through 66 branches countrywide and further expansion was underway and many new schemes were ready to be launched soon. According to him, the country was passing through unimaginable economic crises when Shaukat Tarin took charge of the economic affairs of the country. The inflation was high to the level of 25 percent, which has now been reduced to 11 percent.
Tarin has ensured positive indicators on all economic fronts and the country's economy is smoothly sailing ahead with bright future prospects on economic fronts. Shaukat Tarin has exhibited strong commitment and proved good intention can turn around the economy even in worst circumstances. He said Shaukat Tarin was wholeheartedly serving the country in difficult situation to put the country's economy on right track and now all key indicators were positive.