markets. Keeping this trend in mind, Faysal Bank
Limited, in collaboration with its group company (and
wholly-owned subsidiary of Dar A1 Maal A1 Islami Trust) Islamic
Investment Company of the Gulf (Bahamas) Limited (who will bring
extensive international experience in the fund management industry)
and Akeel Karim Dhedhi Securities (Pvt.) Limited (which is among the
leading brokerage house in Pakistan along with it's extensive research
department) joined hands to sponsor an asset management company in
Pakistan, namely Faysal Asset Management Limited (FAML). This step
will help Faysal Bank in providing a unique opportunity to general
investors, including its own depositors, for investing in a pool of
well diversified portfolio funds which will generate adequate return
with growth prospects to its unit holders. The units of the Mutual
Funds are easy and convenient to buy and sell. The Unit holder can
easily redeem his investments in the units on any business day through
one single application to the distribution agent and receive
applicable cash value within few business days. Among others, FAML's
responsibilities will include the promotion of the units of the mutual
funds, investments and management of assets of the mutual funds. FAML
will be involved in the launch and maintenance of the financial
records of mutual funds and work towards making the mutual fund grow
in value and magnitude. After extensive research and analysis of the
securities in both the capital markets as well as the money market,
FAML will choose the investments that will take the investor's savings
where the investor wants it to go. It will also make sure the account
is accurate and up to date, and that the investor is kept aware of how
his/her investment is performing.
ZRG CALL CENTRE SOLUTION
A call center is traditionally defined as a
physical location where calls are placed, or received, in high volume
for the purpose of sales, marketing, customer service, telemarketing,
technical support or other specialized business activity. One early
definition described a call center as a place of doing business by
phone that combined a centralized database with an automatic call
Over the years, there has been a substantial
increase in the numbers of customer contact/call centers and consumers
rely on more convenient modes on keeping track of their history.
Organizations are actively considering the setup of call centers in
order to provide personalized service to their customer base.
Companies that already have working call centers are considering
expanding in size and functionality to the growing customer needs and
progressive diversity of products and services.
Askari MasterCard, the Credit Card Division of
Askari Commercial Bank Ltd is part of a dynamic and rapidly growing
bank in Pakistan that needed a flexible, scalable and reliable
solution for its customer services and support centers in Karachi.
After having gone through a number of proposals, Askari MasterCard
identified ZRG International as the solution provider with the most
mature and sophisticated call center solution, at the best price
performance ratio and an excellent track record of post sale service
and customer satisfaction.
Askari MasterCard is using the ZRG call center
solution to provide customer support and value-added service to their
customers calling on their UAN. This solution is designed to provide a
comprehensive set of services and tools to Askari MasterCard and to
the customers who call in. The self-service interactive voice response
is part of the solution that offers a 24/7 access to their customer's
account related information. This self-service facility will be
integrated with several databases to provide the required information
to the customer. Customers with complex issues are transferred to the
next most suitable customer service representative. The call center
officers have all the information related to the call and the caller's
account right on the screen and this has resulted in faster delivery
of information, thus increasing customer satisfaction. The Askari
MasterCard call center supervisors and managers have powerful tools
and applications on the desktop PC to monitor and analyze call center
status, service quality and agent performance. Askari MasterCard has
expressed great satisfaction towards the solution and the support they
have received ZRG.
The management of Askari MasterCard feels that ZRG
International is without any doubt, the better choice, over other call
Mr. Floyd Francis Faria, Manager, Customer Services
adds that his contact center is growing in importance and is gradually
moving from being a back office overhead to a strategic entity by
which the businesses can increase profits and drive revenues.
ZRG International (Private) Limited, the leading
Customer Contact Center consultant and Call Handling expert
organization holds the largest market share of Pakistanís call center
market. The company has installed call center and customer interaction
solutions for some of the largest and most prominent call centers in
WAVES HOME APPLIANCES IN AFGHANISTAN
Renowned WAVES Home appliance including Split Air
Conditioners, Refrigerators and deep freezers will be displayed at
Single Country Exhibition to be held at Kabul, Afghanistan from 25 to
27 in September. This exhibition is being arranged by Export Promotion
Bureau of Pakistan.
According to details, after the war ended, it is
prime time opportunity for Pakistan to grow its exports to fetch the
benefits of such a huge and potential market in Afghanistan. This will
not only provide business growth to Pakistani exporters in Afghanistan
but also broaden new avenues towards Central Asian Republics.
Waves Home Appliances are widely popular in NWFP
and northern areas of Pakistan also that is why, Waves Home Appliances
are already being exported to Afghanistan. It is wished that recent
single country exhibition will provide big opportunity to Pakistani
manufactures to touch new horizons of exports by introducing their
products to Pashto and Persian speaking Afghanistan who is returning
to economic revival and normal social life after a long period of
disaster and blood shed.
FINANCING FOR MOBILINK
The signing ceremony for the PKR 2.5 billion
Privately-Placed Term Finance Certificate (PPTFC) issue, arranged for
Pakistan Mobile Communication (Pvt.) Ltd. (Mobilink) by United Bank
Limited (UBL), ABN AMRO Bank N.V. (ABN AMRO) and Jahangir Siddiqui
& Company Ltd. (JSCL) was held in Karachi recently. Among others,
the ceremony was attended by Mr. Zouhair Khaliq, President and CEO
Mobilink, Mr. Hamid Farooq, EVP and CFO Mobilink, Mr. Amar Zafar Khan
President UBL, Mr. Naved A. Khan Country Representative ABN AMRO Bank
Pakistan and Mr. Ali Siddiqui, Director JSCL.
Since its inception, Mobilink has developed a
reputation for being the premium cellular service provider by
investing substantially in technology and infrastructure. The
technology used by the Company is sourced from the highest rated
cellular equipment providers Motorola, Siemens and Alcatel. Mobilink
also has the distinction of being the first in the cellular industry
in Pakistan to introduce the Global System for Mobile Communication
("GSM") technology. With a subscriber base of 1.4 million
and 53% market share, Mobilink is clearly the largest cellular company
in Pakistan right now.
ALLIANZ EFU TO BUILD HEALTH INSURANCE AWARENESS
Allianz EFU at its office premises recently hosted
a press briefing on Health Insurance. The event was organized by the
company to increase Health insurance awareness and to persuade the
media on its effectiveness in facilitating the Health sector in the
The company unveiled its plans for making Health
insurance affordable to the lower income group and briefed the media
about an affordable hospitalization plan that could benefit the masses
with its offerings of extensive coverage.
'Within 36 months of its operations Allianz EFU has
already become a market leader and is providing health insurance to
over 250 companies and 75000 individuals, employees in the country.
Our mission in Pakistan is to provide quality healthcare to the people
that is accessible and affordable,' disclosed Mr. Kashif Usman, Senior
Vice President Marketing and Sales.
Mr. Ahmir ud Deen, the CEO and Managing Director of
the company stressed, 'Allianz EFU is here to give the people of
Pakistan 'choice' to decide to adapt to an organized way of life where
they could plan for unanticipated events of sickness.'
CDC ANNOUNCED 213% RISE IN AFTER TAX PROFIT
Central Depository Company (CDC) announced a rise
of 213% in after tax profit in the year 2002-3, over the previous
fiscal year at a media briefing in Karachi, recently.
Mr. Hanif Jakhura, CEO of CDC said that the pre-tax
profit has gone up from Rs.23.36 million in 2002 to Rs. 73.17 million
in 2003. He said that CDC's revenues also shot up by 41 % to Rs.
304.69 million in 2003, from Rs. 214.78 million in 2002.
Addressing the media Mr. Jakhura said that in the
last few years CDC has developed an infrastructure that has made
settlements of high volumes at the stock exchange without fear of
damaged, lost, forged or duplicate certificates.
He informed the media that the number of CDC live
securities has gone up from 389 to 435, and market capitalization of
shares in CDC from Rs. 114 billion in 2002 to Rs. 253 billion in 2003,
showing a massive increase of 122%.
He said that these results were achieved by CDC by
bringing an across the board improvement in services, raising the
level of its services to the clients and investors.
The world Gold Council (WGC) has announced to
organize yet another month-long gold Jewellery festival named GOLD
RUSH in the city of Karachi in collaboration with almost 90 leading
Jewellers of the city.
The month-long extravaganza commencing from
September 22, 2003 expected to generate a lot of excitement and
attention from the consumers, which will eventually reflect a positive
impact on the gold industry.
WGC announced to give away countless prizes during
the event including Rs.30,000 worth gold daily and thousands of
"scratch and win" gold prizes. The highlight of the event
would be a bumper prize of 02 Kg of gold.
The WGC consultant for Pakistan, Syed Faisal Hashmi,
said that the festival would provide consumers with an opportunity to
win thousands of exciting gold prizes. "Gold Rush is a unique
festival catered to the cultural and social needs of the consumer of
Pakistan as it is scheduled especially for the wedding buyers and
right before the Holy month of Ramazan''
INTRODUCTION OF CONSULTING GROUP
A consulting group which is set up to provide
services of a diversified portfolio such as: engineering and
management consulting, human resources development and placement
consulting (including international education), international property
consulting, international business development and marketing
consulting and web-designing consulting is cordially inviting to you
visit its website at www.topstrategies.co.uk .
We have also set up a sister company WFKLaw, an
international law office to provide legal services to international
community. To facilitate problems relating to international
immigration, we have signed up agreements with immigration law firms
in Canada, Australia and the USA to provide immigration services in
their respective region. You are also cordially invited to visit
website of our international law office at www.wfklaw.com or
Furthermore, to assist the international community,
we have organised a database of our international associates in the
form of an informal association of independent law firms of the
Muslim-World (MLF). You are also cordially invited to visit website of
MLF at www.topstrategies.co.uk/mlf .
CATHAY PACIFIC HONOURS ITS TOP AGENTS
Cathay Pacific Airways recently held an Annual
Dinner for their top performing travel and cargo agents for the year
2002. In all, 10 travel agents and 5 cargo agents received their
plaques in a grand ceremony. American Express Travel Related Services
received the top travel award whilst the top cargo award went to
Universal Freight System. James Barrington, Director Marketing, Cathay
Pacific Airways, especially flew in from Hong Kong, for award
Speaking on the occasion, James Barrington
congratulated the winners of the Agent Award and reaffirmed Cathay
Pacific's commitment to the Pakistani market. "We are here for
the long-term and with the continuing support of the travel and cargo
agents, we aim to grow with Pakistan in this new era of stability and
prosperity for the nation." He also said that the airline took
pride in its rather quick recovery from the SARS strike in Hong Kong
that had caused it to suffer a record loss, and emphasized once again,
that the disease is spread by people and not via air travel.
Mr. Happy Minwalla, Cathay Pacific's General
Manager for Pakistan, Afghanistan and CIS, said, "These Awards
are a small token of our appreciation for the hard work put in by all
the Agents during the past year. By establishing direct air links
between Karachi, Bangkok and Hong Kong we have managed to further
develop both tourism and commerce between Pakistan, Thailand, Hong
Kong, China and beyond."
The Board of Director of PICIC-fund Manager of ICP-Lot
'B' (Comprising of 2nd, 5th, 6th, 7th, 9th, 10th, 13th, 14th, 16th,
17th, 18th, 22nd and 24th Mutual Funds) in their meeting held on
September 19, 2003 declared right issue for all the thirteen funds.
For first eleven ICP Mutual funds PICIC declared 150% right issue
(i.e. 150 certificates for every 100 certificates held) and for 22nd
& 24th the rate of right issue was 100% (i.e. 100 certificates for
every 100 certificates held). The right issue in respect of all mutual
funds is on premium except for 24th which is at par. The offered price
(par plus premium) per certificate for 2nd ICP Mutual Fund is Rs.15/-,
5th is Rs.15/-, 6th is Rs.30/-, 7th is Rs.15/-, 9th is Rs.25/-, 10th
is Rs.20/-, 13th is Rs.40/-, 14th is Rs.15/-, 16th is Rs.12.5/-, 17th
is Rs.15/-, 18th is Rs.15/-, 22nd is Rs.12.5 and 24th is Rs.10/-. The
market prices of all the funds offering right is substantially higher
as compared to its right offered prices and would help enhance the
certificate holder value. The aggregate NAV of ICP-Lot 'B' when
acquired by PICIC in December 2002 was Rs.1,550 million which has
robustly increased by 275% to Rs.5818 million after the right issue.
The objective of the right issue is to supplement more flexibility to
the fund manager to take advantage of the market opportunities. PICIC
intends to utilize substantial portion of the proceeds from the right
issue by investing in high quality stocks and rest in fixed income
securities. This approach is expected to provide a partial hedge to
the fund against any adverse fluctuation in the stock market.
PICIC Board of Directors also approved formation of
an Insurance Company offering general insurance services. This
endeavor of PICIC is aimed at catering all financial needs of its
customers under one roof by providing impeccable services of varied
nature thus amply justifying its claims of a "Financial