Jul 10 - 16, 2000
SHAMIL BANK ISLAMIC BANKERS
Faysal Islamic Bank of Bahrain E.C. (FIBB) and the Islamic Investment
Company of the Gulf (Bahrain) E.C. (IICG) have merged their operations with effect from
(June 24, 2000) to take on a new identity and consolidate their joint financial base.
The merged institution, which will carry the name of Shamil Bank of
Bahrain E.C. (Islamic Bankers), will have total assets of US$ 2.9 billion and more than
US$ 230 million in equity, according to HRH Prince Mohamed Al Faisal Al Saud, FIBB &
IICG Chairman, and Chairman-designate of Shamil Bank.
"With its increased capital base and operations. Shamil Bank will
be able to play a more effective and dominant role in the Islamic-banking sector",
the Chairman said, after the initial meeting of the shareholders of the two merged
"Building on the pioneering Islamic-banking experience of both
FIBB and IICG, we believe we have made tremendous strides in the past years in placing the
concepts of Islamic- banking in a modern context to meet today's demands in the
"With its broader financial base, Shamil Bank will be able to
mobilize more funds, provide more variety and effective financial services, and enjoy cost
rationalization", the Chairman explained.
Based on the combined organization of the two merged institutions,
Shamil Bank will have three branches in Bahrain as well as one each in Bangladesh and
Yemen in addition to a number of representative offices in different countries. It will
employ over 450 staff around the globe.
Additionally, Shamil Bank continues to maintain a 60% interest in
Faysal Bank Limited, Pakistan, the largest foreign bank in Pakistan.
A network of 20 institutions is linked to Shamil Bank, covering a broad
range of financial services and located in important business centers around the world.
Shamil Bank will concentrate its financial activities on retail banking
as well as corporate and investment banking. Development and marketing of new products has
been an important part of FIBB and IICG, which Shamil Bank will continue. The Bank intends
to lead the way to integrating Islamic-banking principles into conventional banking
structure, helping authorities to pave the way for monitoring and supervising systems and
assisting in proposing regulations and means of supervision of institutions in the
Shamil Bank has taken advantage of the Internet to swiftly make global
decisions, the Chairman pointed out.
"Over the years, FIBB and IICG have been institutions which have
been both listeners and learners in this highly specialized sector of banking", the
Chairman outscored. "We fully expect Shamil Bank to continue being a leader and key
player in the field."
With effect from 1st July 2000, the merged entity will operate as a
full commercial banking entity based in Bahrain, which will offer full-fledged modern
commercial banking services to its customers around the globe.
The Annual General Meeting of Shamil Bank on 24 June 2000 elected the
following Board of Directors:
HRH Prince Mohamed Al Faisal Al Saud Chairman
Mr. Khalid Abdulla Janahi Member
Mr. Ziad Hasan Rawashdeh Member
Mr. Omar Abdi Ali Member
Mr. Hyder Bin Ladin Member
Mr. Mohamed Abdullah Al Anqari Member
GALILEO PAKISTAN HONOURS TRAVEL AGENTS
Galileo Pakistan held their Annual Award ceremonies in Karachi and
Islamabad. The event was to honour the top travel agents, as well as travel agents that
are using Galileo exclusively. There was a record turn out, the cream of the travel
community in the country were all present on the occasions to receive their awards and
certificates for the year 1999/2000.
The awards themselves were very novel and in keeping with the Galileo
theme. The thermometer a Galileo Galilee invention was designed using the principle of the
density of liquid to tell temperature. Mr. Gary Chapman (Chief Director Group Services
Emirates Group), Mr. Hans Ebeling (Business Development Manager Galileo International),
Ms. Naz Nizari (General Manager Galileo Emirates), Mr. Ali Naqi Taqi (CEO Galileo
Pakistan) and Mr. Ameen Malik (Business Development Manager Galileo Emirates) distributed
these interesting inventions.
Gary Chapman, Chief Director Group Services Emirates Group, expressed
his appreciation to all the travel agents for their business. He emphasized that Galileo
Pakistan was the only neutral distributor of GDSs in Pakistan, since they were not aligned
to any travel agency. Mr. Chapman emphasized: "Your loyalty to Galileo will never be
taken for granted, Galileo Pakistan is strongly committed to offering the highest quality
of support to all their subscribers. They are continuously working to bring to the market
advanced Galileo products that help your customers to grow their business especially in
today's technology times."
MR. S. ALI RAZA NEW NBP PRESIDENT
Mr. S. Ali Raza assumed charge as the President of National Bank of
Pakistan, replacing Mohammedmian Soomro, who was elevated to status of Sindh Governor
An Economics graduate of Government College, Lahore, Mr. Ali Raza
proceeded to London School of Economics and Political Science where he obtained a
Bachelors of Science in Economics and then a Masters in Administrative Sciences from City
Mr. Ali Raza brings with him a solid educational background and a
wealth of diversified experiences, having worked in the banking industry for the past
Having begun his career in 1973, as an International Management Trainee
with the Bank of America, San Francisco, Mr. Ali Raza has held many responsible and
challenging positions such as Relationship Manager, Branch Manager, General Manager,
Country Manager, and Regional Manager, at both Bank of America and other internationally
reputed banking institutions.
In addition, Mr. Ali Raza also possesses numerous accreditations like
Vice President of the Institute of Bankers, Fellow of the Institute of Bankers, Member of
KSE Board of Directors, President of the American Business Council, Member of Managing
Committee of the Overseas Investors of Chambers of Commerce and Director PICIC (US
Under the Presidency of Mr. Ali Raza and his extensive experiences,
both of the local and the international banking arena, the National Bank of Pakistan will
be boosted further within the banking industry and this will in turn benefit the national
economy of Pakistan.
CLICK CAREER - PROGRAM ON RADIO CHANNEL FM 100
The said captioned program is organized by South City Institute of
Management & Technology.
The purpose of the program is to provide information to the listeners
on the Professional Career Development Opportunities in Pakistan and the role of
Day : Every Monday
Timing : 4:30 to 5:00 p.m.
The host of this program is Munaf M. Siddiq who is the Vice President,
Director Planning & Development South City Institute of Management & Technology.
South City Institute of Management & Technology is one of the leading Private
Institute providing professional education in the field of Business Administration and
Information Technology (Computer Science) approved and granted NOC for chartered by
University Grants Commission.
GLOBAL LEADER IN PRINTERS ENTER PAKISTAN
XEROX is a global company dedicated to provide printing solutions that
simplify your work and make your print output more meaningful. Whether you are a small
business or a global enterprise, XEROX offers printers and services that can help your
company improve its business processes, lower costs, and increase clock speed and share
As The Document Company, XEROX was one of the first to recognize the
value of documents in the creation, capture and transfer of knowledge in the work place,
the first to understand that documents comprise of the most pervasive vehicle that people
use to share knowledge with each other.
XEROX is the pioneer in employing the laser technology for printing, it
is globally acknowledged as the premier source for developing innovative printing
solutions. The product range of XEROXis primarily in three main sub-categories copiers,
printers and production machines. All of these involve "documents", the key
phrase in XEROX.
Document World Pakistan (Pvt) Ltd. (DWP) became a business partner and
distributor of XEROX Corporation USA in 1997 for the XEROX printers and channel products.
DWP started operations as a service provider to one of the XEROX value added products
installed for the first time in Pakistan. Thereafter, sales & distribution and after
sales support to Inkjet Color Printers, desktop models for home and entry level users,
Laser Desktop and Group Laser Printers for small and personal laser printing and Network
Printers for corporate users were added to DWP's activity. Lately Multifunction Machines
(six in one) have also been added to our product range.
Pakistan market with respect to printers has seen a healthy growth
reflecting the rise of PC users and population in the country. The growth in the inkjet
market has been the most prominent. Number of home users mostly students, first time PC
users find the inkjet color printers priced to their budget. XEROX Inkjet printers C6 and
C8 are ideally positioned for the cost conscious home-market users. These products are
very economically priced on the machine and the cost of cartridges are most affordable and
efficient. The separate four ink cartridge system one for black and one each for three
colors are unique to XEROX inkjet printers as this system enables maximum use of all ink
regardless of which color is used more in your printing jobs. The XEROX quality is known
world over for their robust use and reliability. The notion that the best is always most
expensive is defied by XEROX demonstrating that value of a product is a combination of
price and features.
In the laser market XEROX laser P8ex can be compared to any printer in
the desktop category. Its speed of 8ppm, higher RAM memory of 4Mb, USB port as standard
and crisp resolution make its features far superior than the competition. XEROX P8ex has
been adjudged winner by various international forums like PC Magazine with prestigious
awards etc. The consumable cost per page is well within the market norms of about Rs. 1
per page on desktop laser. The best part of the product is again the price and features
combination. This is true value.
Network printers are available ranging from 20ppm to 40 ppm. The
conductivity is open so whether you use a postscript file or a simple PCL file, the XEROX
network printers respond to all with the same accuracy and speed. The optional equipment
available on these printers range from duplexers to complete finishers. The machines are
of modular type and can be attached to the optional equipment as you grow. The network
printers are very economical on the print costs and this is the smart way to grow in
XEROX is the global leader in multi-function machines. If you are small
or a home office (SOHO) and want printer, copier etc. for low volumes without divesting
much, this is the product for you. The XEROX multi-function 155c is a printer, copier,
fax, telephone-set, PC-fax and scanner all in one with inkjet technology. The price is
unbelievably low with an unbelievable consumable cost. This product is probably the most
economical unit in the XEROX range in Pakistan.
The strength of DWP is in its after sales service support. Starting
from a technical assignment, DWP focuses on warranty and after sales support as a main
business function. DWP employs XEROX trained and experienced engineers nationwide to
provide customer support at various levels. The engineers continue to upgrade their
knowledge base as the technology changes rapidly. At DWP this is a routine and not an
The DWP channel distribution of 250 dealers, retailers, whole-sellers,
value added resellers, ensure the availability of the product available at all major
outlets and across the nation in all big and major metropolitan areas. The DWP dealers are
fully aware of the product knowledge and give the customers complete information on
warranty and after sales support issues.
The combination of XEROX products of excellence at competitive prices
and the strong local support of D. W. P, XEROX Printers are here in Pakistan to stay and
would provide customer choice in real terms.
INTERNATIONAL INDUSTRIES LIMITED
International Industries Limited (IIL), Pakistan's largest Steel pipe
and G.I. Pipe manufacturer and largest Exporter of pipes from Pakistan have been
recommended for Certification by Bureau Veritas Quality International (BVQI) under ISO/DIS
9001:2000 on July 5, 2000.
International Industries Ltd. has become the first organization in
Pakistan certified under this new Quality Managemennt System Standard.
GETPAKISTAN.COM ANNOUNCES THE LAUNCH OF FREE IT COURSES ON THE
Houston, Texas-(Business Wire)- June 28, 2000- getPakistan.com, a
leading Pakistani portal providing services and content to its users around the world
announced the launch of free web based information technology courses today. This new
feature represents the company's commitment to bring quality content and services that not
only entertain people but also help them progress in their careers.
"Since the formation of getPakistan.com our objective has been to
bring quality content and make the web a meaningful medium for people" stated Abdul
Kundi, President and CEO of getPakistan.com. "In Pakistan, good quality education is
unavailable to a vast majority due to financial constraints and shortage of quality
institutes. Even for those who can afford it, the courses are outdated and do not give a
true insight into latest technological developments. Our free web-based education service
gives them a chance to develop their skills in relevant areas of technology. With
decreasing internet access costs anyone who has the desire to learn can do it."
This service can be accessed from the web site at
ABOUT GET PAKISTAN .COM
Founded in July 1999 getPakistan.com, Inc. is one of the leading
Pakistani portals. The company is headquartered in Houston, Texas with representative
office in Pakistan. getPakistan.com provides variety of content for different user
segments. The company has a team of in-house content providers and web designers to keep
the content fresh and interesting. The company also out-sources content from third
parties. The company intends to gradually introduce e-commerce for its users to procure
quality goods and services. Quality service in all its endeavors is the objective of
TEXTILE EXPORTS UNDER PRESSURE
Mr. Mohsin Aziz, Chairman APTMA has expressed grave concern on the
pessimistic outlook for Textile Exports due to recent negative developments such as abrupt
withdrawal of Export Refinance on Yarn and Fabric, Prolonged Strike against Sales Tax at
Faisalabad and unnecessary delays of Sales Tax Refunds. Due to these significant negative
factors, the ambitious target of US $ 10 million for the next financial year could be in
jeopardised. Chairman APTMA expressed fear that unless immediate remedial actions were
taken by the Government. Textile Exports could even come down from the existing level.
Export Refinance is a significant incentive tool for promoting Export
of Yarn and Fabrics in increasifngly competitive international market. Most of te
countries competing with Pakistan in Export of Yarn and Fabrics, such as, India, Provide
Export Refinance Facility at very low rates of interest. If Exports Refinance Facility is
not restored immediately on higher counts of Yarn & Fabriccs, APTMA Members feared
that pakistan could loose its present market share to competing countries like India and
China which, once lost, would be very difficult to regain. Statistics show that Export
Refiance Facility has had a very significant positive impact in increasing Exports of Yarn
and Cloth to intensely competitive International Markets. The cost of Refinance Facility
of Yarn of 30 counts and above and Fabrics is only Rs. 89 million per annum, whereas the
benefit in terms of increased Export earnings is considerably more than the cost.
According to Chairman APTMA, Textile Mills have sent on SOS that due to
the prolonged strike against enforcement of GST and documentation by the yarn Merchants,
Sizing Units and Power Looms, particularly at Faisalabad, their Stocks of Finished Goods
Inventory are piling up at their Factories. Due to this unusuel situation, a large number
of Mills are on the verge of closure since they are no longer able to sustain the
Inventory build up whichf has fresulting in negative cash flow positionn that is worsening
every day. As against an average Finished Stockf of two days production (9.198 Metric Tons
per Mill), presently the Spinning Mills have piled up Finished Goods Inventory of over 17
days production (78.183 Metric Tons per Mill).
ARENA IT GURU SEMINAR
Fulfilling the basic purpose of information technology and Multimedia
education, Arena Multimedia chalked out a senes of IT Guru seminars from June to December
2000. Ms. Shazia Rahim of din Technologies (Islamabad) one of our IT Guru conducted a
seminar on "Multimedia and its role in IT" at Hotel Marriott on June 15th 2000.
People from different frame of mind attended this seminar and enhanced their knowledge and
developed the importance of Multimedia in their respective field of specialization
Arena Multimedia was launched as an independent division of Aptech
Worldwide Inc. USA. Within the short span of 3 years it has become the dominant market
leader in its segment with over 100-education center worldwide.
Arena (A division of Aptech Worldwide Inc. USA, the global IT company)
courses are designed as specialized programs to teach students effective usage of
Multimedia Technologies such as Computer Graphics, Animation, Imaging, Digitizing,
Scanning, 3D Modeling, and Rendenng Visualizations for creating interactive multimedia
applications, internet technology. Students completing these courses can look forward to
exciting careers as Graphic and Fashion designers, Visualizes, Animators, Web Designers
and Special Effect specialists.
FIRST WOMEN BANK LIMITED
On the occasion of the first anniversary of First Women Bank Ltd.
Business Centre Karachi ,an exhibition for the products of their entrepreneurs /
participants of different courses is being arranged by the centre . This exhibition will
be held in the month Of August this year at a local hotel. Interested women may contact to
the Business Centrc for further details. Address and telephone No. of the centre is as
FWBL Business Centre
Ph: 4549780, 4549784
The inaugural ceremony of Synectiv Pakistan was held at their office at
Dr. Ziauddin Ahmed Road, opp. Karachi Club. The event was made more delightful and
appreciable by the presence of eminent People from all walks of life including senior
officials of Paktel. Instaphone and Mobilink. Synectiv is a unique concept in Pakistan.
This is for the first time that all the mobile communication needs are made available
under one roof. The wide range of world's leading brands of latest cellular handsets,
hitech accessories & kits, batteries & chargers, on the spot connectivity of
either GSM or Amps connection. choice of cost-free customized solutions, and most ot all.
the ever smiling and courteous staff make a visit to Synectiv truly special.
It is for the first time in Pakistan that Ericcson certified engineers
are specially deputed to look after the complaints and repairs of all kinds of Ericcson
handsets at an exclusive Ericcson Service Centre right within the Synectiv premises.
Mr. Bo Zaine, CEO & President, Ericeson Pakistan (Pvt) Ltd, was the
Guest-in-Chief. He spoke about the present and future endeavors his roganization is making
for the advancemennt of mobile communications around the globe. Mr. Ejaz Hasan, Managing
Director of Synectiv Pakistan, also addressed the audience. He said that Synectiv started
its Pakistan operation in October'99 and within such a short time it has made its presence
felt. He also emphasized that main focus of Synectiv will now be the expansion of network
operators all across the country, for which efforts are being made.
Speaking on the occasion Mr. Arif Chandoo, Director Syenctiv said that
in UK where Synectiv is based, it has been able to expand the number of its subscribers to
nearly 31 million, which is nearly 50% of the total population and said the overall
worldwide subscribers of Synectiv is supposed to cross 1 billion mark by the year 2003. He
also disclosed that only last year Synectiv has shipped more than 250,000 handsets across
the globe and hoped that the consumers in Pakistan will also have the same level of choice
as in the developed nations of the world.
The event was conducted by Paragon Advertising (Pvt) Ltd., and the
occasion was hosted by Mr. Fawad M. Janjua, Account Director, Paragon Advertising (Pvt)
Ltd. on behalf of Synectiv Pakistan (Pvt) Ltd.