Jul 17 - 23, 2000
UBL Board approves
customer focused Restructuring Plan
UBL Management recently presented to the Bank's Board of Directors its
latest restructuring plan. This plan has been developed after in-depth discussions at
various management levels keeping in view the realities of the market and modern banking
requirements in terms of skills, customers service and employee compensation. The plan
aims to implement the standards of service and performance which are presently the norm
the world over.
The restructuring plan will concentrate on the following broad
elements: segregation of operations from marketing; building a sales force on a variable
compensation plan; and focusing on customer service through universal tellers and
The Board was informed that present day banking requires manpower
specialization and an efficient MIS using a single source. The Bank plans to move towards
a functional structure with a focus on customers through a segmented customer base. The
reorganization is being complemented by modifying some functions and introducing others.
The staff will be repositioned to sell the Bank's products. There is also going to be a
comprehensive focus on bringing decision-makers closer to the customers to ensure
efficient service, particularly to the preferred customers of the Bank. The reorganization
is aimed to increase the profitability of the Bank through improved and efficient service
to the customer. This will also lead to the better compensation for the staff.
The restructuring plan envisages a Hub and Spoke branch concept. This
is in wide use in other international markets and satisfies the present day banking
requirements. In this system the majority of the branches (SPOKES) act as customer
delivery channels built around one-stop processors. The HUBS act as back office, and
provide support to the Spokes.
The Board was apprised that the Hub/spoke plan has been developed to
ensure better services according to customer needs identified through segmentation, ensure
cross selling of products, provide improved customer service better branch premises, and
achieve growth in income. As a result, the Bank will be able to afford better salaries for
the staff based on the creation of an additional variable compensation system linked to
the incremental business generated by branches.
The Hub/Spoke system will also empower the bank employees and provide
them total control over the progression of their careers professionally and financially.
This setup will also foster teamwork.
The Board, however, noted with concern the external issues faced by the
Bank, which are affecting the efficiency of its operations. The Bank has been prohibited
to pursue those cases of recovery that are with the National Accountability Bureau (NAB),
this is slowing down the recovery process.
It also noted with concern the fact that the Bank has not received Tax
refund from the Central Board of Revenue.
Cisco Announces Commitment to Developing Internet Networking
Cisco Systems, the .world-wide leader in networking for the Internet,
formally announced its representation in Pakistan, and committed to rapidly ramp up its
investment in technical, marketing and educational programmes in this country. Cisco also
announced that until the full office was in place, a representational office under the
leadership of Pakistan Territory Manager, Haris Zahoor, will initiate programmes to help
Cisco's partners in Pakistan make the most of the growing surge of interest in Internet
"Pakistan is now a very exciting market for Cisco. The new
government's policies towards developing Internet technologies are very encouraging. It
gives a clear message that technology is now on agendas at the highest levels of economic,
trade, communications and education ministries," said Rowland Griffiths, Regional
Director of Cisco Systems Middle East. "Cisco applauds this progressive stance on
technology. It gives us the confidence to invest heavily in this region as it
Cisco is the world's leading company in providing integrated technology
for Internet, networking and security systems for customers ranging from small businesses
through to large enterprises and telecommunications operators. It is estimated that over
80% of the traffic travelling over the global Internet passes through Cisco equipment. It
is the world's second largest company by market capitalisation.
Cisco has already successfully rolled out several of its global
initiatives in Pakistan, the most notable of these being the Cisco Networking Academies
The Networking Academies Programme seeks to address the growing
shortage in skilled networking engineers, before this shortage begins to affect the
ability of local organisations to grow and prosper. The Networking Academies Programme
provides schools, colleges and universities with the latest networking equipment,
educational material, course curricula and training for teachers and educators, to allow
them to give students a thorough grounding in both the theory and practice of implementing
and managing technology systems.
Hamdard University in Karachi was signed up near the beginning of the
year as a Regional Networking Academy. A Regional Networking Academy provides training to
the smaller Local Networking Academies as they are created.
The Usman Institute of Technology (Karachi) was signed up recently as a
Local Networking Academy, and negotiations are for down the track with other Pakistani
Apart from investing in purely academic education programmes, Cisco
also provides significant resources to increase the technical skills of partners and
systems integrators in the countries in which it operates. This is achieved through
subsidised training and technical seminar series.
Cisco is also developing the market with special prices on certain
products, such as Remote Access Servers, important for companies wishing to offer Internet
access. By developing the Pakistan market in conjunction with authorised partners, Cisco
is ensuring that its customers in the country receive proper service and support from
The Internet has fundamentally changed how organisations interact and
do business. This applies even more developing countries, which need to take advantage of
every potential means to become competitive with developed economies in the Far East,
Europe and US.
Cisco believes that Pakistan is now on the cusp of a massive growth
curve, which will be fuelled by technology. The programmes and initiatives instituted by
the Pakistan government will nurture this growth. Cisco will be ready to provide
resources, expertise, skills and the latest technology to make this boom possible.
Starwood President for Africa, India and the Middle East visits
Sami Zoghbi, President, Africa, India and Middle East for Starwood
Hotels and Resorts Worldwide Inc.- Hotel Group, that manages Sheraton Hotels worldwide, is
visiting Karachi on July 19th to review the budgets for 2001 and the overall operations.
Other executives from the Africa, India and Middle East Division (AIME) accompanying
Zoghbi on his trip are Don Elliot, Divisional Director of Finance, Martin Franck VP Human
Resources, Zohair Neem, VP, Director Technical Services and Servee Palmans Divisional
Director of Sales.
As the Divisional President, Mr. Zoghbi directs the operations of 46
hotels in 20 countries in Africa, India and the Middle East including Pakistan. Zoghbi
assumed this role in March 1998, and is based at the company's Divisional Office in Cairo,
Egypt. Prior to his current position, Mr. Zoghbi served as Senior Vice President, Sheraton
Corporation and President of the company's Africa and Middle East Division.
Zoghbi has more than 25 years of experience with Sheraton's Africa and
Middle East Division. He began his career with ITT Sheraton in 1974 as General Manager of
the Cairo Sheraton Hotel in Egypt. He was appointed Area Manager, Egypt shortly
afterwards, and moved up through the division to the position of Executive Vice President,
Sheraton Management Corporation, Regional Director of Operations, Middle East.
The World Gold Council and The Export Promotion
Bureau Laud The Pakistani Amateur Jewellery Designers
The World Gold Council (WGC) and The Export Promotion Bureau (EPB),
came together, , at an award giving ceremony, arranged by the WGC, to laud the efforts put
forward by amateur Pakistani jewellery designers at the Gold Virtuosi an
international jewellery design contest, recently held in Vicenza, Italy.
At the Gold Virtuosi, launched jointly by the WGC, Anglogold and the
Vicenza Trade Fair Authorities, two winning pieces from the Zargalli 1999 gold jewellery
design contest were selected in the hundred best, from amongst 3,000 designs submitted by
33 countries from all around the world.
Mr. Tariq Ikram, Chairman, EPB, awarded the certificates to the two
designers Nausheen Javaid and Tabish Masroor, as well as to the sponsoring jewellers, at a
ceremony held at the Karachi Marriott Hotel. Also present at the ceremony were Mr. Yousuf
Akhtar Hussain, Manager Pakistan and Egypt, WGC, eminent journalists and other
distinguished guests from the jewellery trade.
Mr. Yousuf Akhtar Hussain, Manager Pakistan and Egypt, WGC, while
speaking at the event said, "We feel exhilarated that for the first time in the
history of Pakistani gold jewellery trade, Pakistan not only participated, but its designs
also qualified for the finals, in such a distinguished event. The selection of Pakistani
designs amongst the world's best is a tribute to the creative talent of Pakistani
The World Gold Council is an international organisation representing
the interests of gold producers worldwide. Its primary objective is to identify markets
with a high potential for gold consumption and to increase the global off-take of gold.
Synectiv Pakistan (Pvt.) Ltd.
Synectiv Pakistan (Pvt.) Ltd. held their official Launch Ceremony and
Press Conference at their Karachi Corporate Office on July 5, 2000. The occasion was
attended by eminent guests, with Mr. Bo Zaine, CEO and President, Ericsson Pakistan (Pvt.)
Ltd. as the Chief Guest. The audience was addressed by the Chief Guest, along-with Mr.
Arif Chandoo, Director Operations, Synectiv Worldwide Holdings and Mr. Ejaz Hassan,
Managing Director, Synectiv Pakistan (Pvt.) Ltd. Paragon Advertising conducted the event
with Mr. Fawad M. Janjua, Account Director, Paragon Advertising (Pvt.) Ltd. as the host.
While addressing the occasion, Mr. Bo Zaine discussed Ericsson's
interests here in Pakistan and their future plans. He also introduced Pakistan's first
Ericsson Service Point, available at Synectiv Display Center, and explained the services
offered by Ericsson, like free software upgrade on warranted sets, qualified repair
engineers and availability of Ericsson's products.
Mr. Arif Chandoo introduced Synectiv Worldwide holdings and their
international operations, and Mr. Ejaz Hassan assured the audience that at Synectiv, the
customers will get the most efficient and reliable solution to their mobile needs, with a
combination of Accessibility, Warranty, Genuine Spares, Accessories etc.
Mr. Bo Zaine was presented a gift at the occasion by Mr. S. Fawad Aziz,
Marketing Manager, Synectiv Pakistan (Pvt.) Ltd. on behalf of the Management and Staff.
The occasion was followed by inauguration of Synectiv Display Center
and the Ericsson Service Point.
American Express Bank enters into an ATM Sharing
alliance With Muslim Commercial Bank
Muslim Commercial Bank Limited and American Express Bank Ltd. signed a
Memorandum of Understanding creating a mutually beneficial alliance which will enable
customers of American Express Bank to use ATM facilities offered by Muslim Commercial
Bank. The MoU was signed by Mr. Haroon Basheer Shaikh, Head of Consumer Banking and IT and
Mr. Tawfiq A. Husain, Country Manager, American Express Bank Ltd., Pakistan in a simple
ceremony in Karachi. MCB has setup an ATM Switch called MNET and American Express Bank is
the fourth foreign bank to sign the sharing MoU.
Speaking at the ceremony AEB Country Manager said,
"Customer service quality is the cornerstone of AEB's philosophy and this initiative
will significantly enhance our customer service capability for our consumer banking
clients". He added "After having considered various routes to acquire this
capability AEB selected MCB as an ideal partner keeping in view the large network
capability and long standing relationship with MCB".
MCB with a network of over 1200 branches is the largest private sector
bank of the country. The Bank is a market leader in 24 hour banking convenience with the
largest nationwide ATM network covering 11 major cities in all provinces of the country.
Javed Jabbar inaugurates MAP's website
Federal Minister for Information, Media Development and National
Affairs Mr. Javed Jabbar, inaugurated the WebSite of Management Association of Pakistan.
The WebSite was inaugurated soon after the MAP seminar on the theme of
"Pakistans Image Reality and Distortion, Fact and Fiction" which was
addressed by the minister the same morning as the Chief Guest.
Earlier, President MAP Mr. Moin M. Fudda announced that MAP's WebSite
had been designed which contained information on all aspects of MAP's operations, but it
would be updated regularly. The WebSite would be inaugurated by the Minister after the
seminar. He requested the members and others to visit MAP's WebSite for their comments and
suggestions on the following address: www.mappk.com the Email address firstname.lastname@example.org and