Nov 13 - Nov 19, 2000
Standard Chartered Grindlays and MCB to launch
co-branded credit card
Rated as Pakistan's best banks ('domestic' and
foreign' respectively) by Euromoney magazine Muslim Commercial Bank (MCB)
and Standard Chartered Grindlays signed a Memorandum of Understanding
to launch the first-ever joint servicing co-branded credit card in
Pakistan. Under the arrangement the partnering banks will have shared
as well as distributed responsibilities to service the customers in
line with their respective strengths.
The Partnership will derive its strength by
combining the large diversified customer base of MCB and the track
record of Standard Chartered Grindlays in managing a successful credit
card business in Pakistan. MCB, the largest Private Bank in Pakistan,
has over four million accounts domiciled in 1200 branches across the
country. Standard Chartered Grindlays, the largest foreign bank in
Pakistan, has over ninety thousand satisfied card members and is a
leading international player in the cards business. With this new
initiative the customers of MCB will now be able to enjoy the
unmatched card member privileges from the product of the two leading
banks in Pakistan. This agreement further strengthens the relationship
between these two banks; earlier this year Standard Chartered
Grindlays signed an agreement to join MCB's switch / ATM network, the
largest in the country.
SLIC Achieves record claim payment
State Life Insurance Corporation of Pakistan paid
Rs. 5 billion on account of policy claims, Rs. 1.85 billion in death
and Rs. 3.05 billion in maturity during the year 1999. This was stated
by Mr. Sameeul Hasan, Chairman, State Life while talking to some
senior officials of the corporation. He said that Rs. 27 lac per
working hour were paid to policyholders in 1999; Rs. 17 lacs and Rs.
10 lacs respectively on maturity and death claims. There are over 5.5
million policyholders insured with State Life, 1.9 million individual
and 3.5 million in group life. Mr. Sameeul Hasan continued to say that
the total income of the Corporation during 1999 stood to Rs. 1.5
billion as compared to Rs. 13 billion in 1998, while the life fund has
exceeded Rs. 62 billion in 1999, showing accretion of Rs. 7.23 billion
in the same year. Mr. Sameeul Hasan said that the principal
investments are 101.4% of life fund, whereas the major portion of
investments which include the government securities stood to Rs. 46.47
billion, loans to policyholders is Rs. 4.30 billion and Real Estate at
Rs. 2.71 billion. Getting insured with State Life has real value and
advantages, which include protection, saving, security and service
through large nationwide network, State Life Chairman concluded.
Engro Golf tournament concludes in Karachi
A three day golf tournament sponsored by Engro
Chemical Pakistan Ltd. concluded at the Karachi Golf Club on November
5, 2000. Around 300 amateur golfers contested for the Championship
trophy. The Championship trophy was bagged by Col. Hassan Rafi with a
net score of 65 while Farooq Gharib was runner-up with a net score of
67. Tariq Alam, a PIA pilot was the winner in the gross category with
a score of 73 followed by Murtaza Qasim with a gross score of 75.
The Tournament kicked off on November 3rd with
events for Veterans and Gulzar Zaidi wining with a net score of 33.
Iqbal G. Shaikh was the runner up with net score of 35. The ladies
event was dominated by the Japanese. Mrs. Yomi Ito won the event with
a net score of 65 whilst Mrs. Tmoko Goto came runner up with a net
score of 66.
Rafiq Dawood won the Seniors event with a net score
of 65. He had an amazing back nine of 1 over (gross). Rear Admiral
Sarfaraz Khan was runner up in this category with score of 69. In the
Juniors section Master Inam Adbullah (net score 81) and Faraz Anis
Khan (net score 83) won the first and second positions respectively.
In an impressive and well attended ceremony held at
the Karachi Golf Club, Sindh Minister of Finance Dr. Hafeezullah
Shaikh gave away the prizes to the winners. Speaking on the occasion
he lauded Engro's contribution towards improvement of the health and
education facilities in the rural Sindh and promotion of sports in the
Earlier in his welcome address, Mr. Zaffar A. Khan,
President, Engro Chamical Pakistan Ltd. gave a brief account of the
Company's social responsibility and role as a good corporate citizen.
Mr. Aminali Currimbhoy, Captain of the Karachi Golf Club, thanked
Engro for holding a successful tournament.
Mr. Khurram H. Kalia, Honorary Chief Adviser to
Ibrahim Jamal iinstitute of Information Technology is briefing Dr.
Attaur-Rehman, Federal Minister for Science and Technology about the
institute on the occasion of its inauguration recently.
MCB's Remit Express
The Muslim Commercial Bank is making concerted
efforts to enhance "Home Remittances" of workers from
abroad, particularly in the Middle East to meet the current foreign
exchange shortage of the country.
Mr. S. H. Jafarey, Senior Vice President of the
International Division of the bank recently visited Saudi Arabia to
explore new avenues of increased home remittance business emanating
from Saudi Arabia. During his stay he visited major banks operating in
the kingdom. He explained salient features of the MCB's products
'Remit Express' and 'Burq Raftar' Remittance Services.
Under 'Remit Express' agreement, Pakistani
expatriates can send remittances to beneficiary's door step which
would be delivered in major cities of Pakistan within 24 hours and
within 48 to 72 hours in other towns. Both the remittance as well as
the beneficiary, are allowed to exchange messages alongwith the
remittance. Under 'Burq Raftar' payment is made within an hour over
the counters of assigned branches.
Under yet another arrangement with a major bank,
MCB will loan its 5 marketing officers to develop and increase
awareness and volume of Home Remittance to Pakistan. Most of the Banks
visited, have shown keen interest in the MCB products and it is
expected that very soon they will start routing their remittances
under the above-mentioned schemes.
Karachi Sheraton lends a helping hand to the UNICEF
Karachi Sheraton Hotel and Towers has been actively
raising funds for the UNICEF with the Starwood "Check-out for
Children" programme. This programme enables guests staying at the
hotel to contribute a dollar at the time of check-out, to the Starwood/
UNICEF special children's fund.
This November, Starwood Hotels and Resorts
Worldwide Inc. has launched a special programme called "Give Me
Five" to commemorate the 5th anniversary of the Check-out for
Children programme. "Give Me Five" aims at celebrating the
US$5 million milestone collected by all Starwood properties in
contributions from guests during the last 5 years, while also raising
additional funds for the thousands of needy children around the world.
All Starwood properties around the world have designed special
programmes and activities in the theme of 5 to celebrate the
"Give Me Five" campaign.
Karachi Sheraton, also participating in the
"Give Me Five", is giving the hotels' guests an opportunity
to be part of this noble cause. A special charity box will be placed
in the hotel lobby throughout November, where visitors can put in
their cash contributions in all denominations of five — be it rupees
10, 50, 500 or above.
"Karachi Sheraton over the years has been very
keen in community services and fund-raising activities to help the
people and society", says Mr. Thomas van Opstal, General Manager,
Karachi Sheraton Hotel & Towers. "Starwood Hotels &
Resorts Worldwide Inc., through Check Out for Children, is united in
our commitment to build on the present success and creating a new
momentum and commitment for the next 5 years".
A seminar was organised by the management and students of Greenwich
University at Ballroom, Pearl Continental Hotel, Karachi on November
3, 2000. The topic of the seminar was
"MARKETING PAKISTAN'S IMAGE"
The students of the University had prepared an image documentary
opening video which related to the topic and theme of the seminar.
The three speakers at the seminar were
1. Mr. Saleem Azeem of Lever Brothers
2. Mr. Peter Hufgard of Hufgard Manufacturing
3, Mr. Masood Ali Khan of Sysnet Distribution
Mr. Javed Jabbar, former Federal Minister was the chairperson of
the seminar. All speakers including Mr. Javed Jabbar gave their views
on the topic. An overall consensus was that country image plays a
vital role in development of a nation and every individual of the
country is involved in formation of the image.
The speeches were greatly appreciated by the audience.
Ms. Seema Mughal Vice-Chancellor Greenwich University presenting
the Greenwich shield to Mr. Javed Jabbar
Vroom Technologies — Forging Ahead at the Speed
Vroom Technologies is USA's premiere
telecommunications software solutions provider. Headquartered in
Englewood, Colorado — the telecom hotspot of the US,, Vroom
Technologies Inc delivers sales, marketing and customer relationship
management solutions specifically designed for the telecommunications
Given the dynamic nature of our business and ever
changing market requirements, we have expanded beyond the US, and now
have a wholly owned subsidiary in Pakistan — Vroom Technologies, (Pvt.)Ltd
which is the main development and engineering centre of the company.
Vroom's vision is to provide the telecommunications
industry with new standards for sales, marketing and customer
relationship management and our mission is to ensure that our
customers become the fastest-growing and most profitable companies in
Our senior management represents some of the finest
talent available in the industry today, and have an impressive track
record of successes that has brought us where are today; it bodes well
for the future too.
Vroom's products address the needs of the
telecommunications industry, which are not addressed by the generic
tools and solutions available in the market today.
Our products' architecture allows us the
flexibility to tailor our solutions to our clients' requirements:
whether they need integrated enterprise applications; stand alone
modular components or web-hosted distributed service bureau
To provide our customers with timely and effect
customisation services, we have a large network of architects,
analysts, developers and engineers, who work round the clock, to help
our clients build and maintain competitive advantage.
Our technical team is staffed with personnel who
specialise in software development, rule based engine/expert systems,
neural networks, object oriented technology, optimisation, distributed
computing technologies, Active X, CORBA, COM/DCOM, mathematical
modelling and state-of-the-art development tools.
At Vroom Technologie, it is our people who are our
biggest strength. That fact is reflected in our philosophy that we
believe in creating opportunities on the cuffing edge of technology
for our employees, while generating a fair return for the latter and