Dec 27, 2004 - Jan 02, 2005










is currently working as Regional Manager of Muslim Commercial Bank 'Karachi's Central Circle', where he is assigned to control 18 most important branches of the country. Branches at I. I. Chundrigar Road, Old City Areas, Saddar, Clifton and DHA areas are considered the most important, being located in the central point of Mega City Karachi which is Industrial and Commercial Hub of the country. The dynamic and result-oriented 33 years old Faisal Iftikhar was born in March 1971. He did his Bachelors in Science with the subjects of Economics, Statistics and Mathematics in June 1992 from Karachi University; he did his Masters in Business Administration (Banking) from IBA Karachi in 1994. He took seven-month management training from MCB Staff College. Later, in 1997 he was assigned a job of Credit Analyst in MCB Sheikh Sultan Trust Branch of MCB. After this senior bankers in the MCB who seem to possess the capability of hunting talent and genius brains, posted him as Manager of Defence Stadium Branch Karachi. Only after two years, a post of Chief Manager was waiting for him in Sidco Center branch near PIA main booking office, here he had to deal with world class businessmen simultaneously challenging competitor bankers with rich banking background and years long experience. But Faisal did not take long to prove his worth and within only two years result was unbelievable. During his tenure in Sidco Center he also constructed a new bank branch of Sidco Center on the most modern lines. In January last, he was promoted as regional manager of central circle of Karachi where 18 most important branches of the country located.

PAGE: What sort of challenge you see in banking sector in future? Or in other words banks with which quality would lead in the banking sector?

FAISAL IFTIKHAR: There are many things in future banking but in my opinion best customer service goes on top. Not only in future but at present best customer service is a must. Only modern technologies can not bring the good results but with best consumer service. We can change the technologies, replace the products, modify the policies but we can not change the customers, so what we plan that is for customers we can ignore the analysis of customers. I always tell my colleagues and especially subordinates we should not only do our duties but we should work and render our service to the customers more than what we are supposed to and assigned to do because that is a sign of good human being and a real Muslim.

PAGE: What change has come in the banking and what changes you see in future banking?

FAISAL IFTIKHAR: In past guarantee got top priority, which confined banking to the limited circle but now target has extended as financial institutions are doing business on the modern lines that include major target to the Small Medium Enterprises (SME) now many thing are examined including cash flow and repayment capability, this has enlarged the banking sector and benefits of banking are going to a large part of population which was just a small circle in past. We have also started examining short and long-term cash flow and repayment capability.



PAGE: Are we having latest technologies in Pakistan or where we are if we compare ourselves with developed countries?

FAISAL IFTIKHAR: The technologies and products what we have seen now were introduced in the developed countries in 1970s or early 80s, however, the speed of modernization of Pakistani banking show that we will not take many years to reach the latest technologies which are being used at present by the developed countries.

PAGE: Don't you think that hot competition in banking sector would end soon?

FAISAL IFTIKHAR: No, banking relates to country's economy and Stock Exchange is one of the barometers, if we analyze and look into the trend, I think banking sector in Pakistan would further grow. I think there would be a hottest competition in banking sector during next three to five years. More and more technologies and products are coming into the Pakistani banking sector.

PAGE: At what extend banking benefits have enlarged?
The banking benefits have enlarged to vast range of population but still more products are coming in the banking sector and still we have large part of the population unattended, this will take few years and I think it will enlarge to more population. However, low literacy rate is a hindrance but for this attention, we would be able to attract majority of the population sooner.

PAGE: How do you see present, past and future of banking sector in Pakistan?

FAISAL IFTIKHAR: Well we have seen past, totally manually work, at present many technologies have been introduced but still a lot of modern technologies are coming in. In future competition depends on best customer service and technological tools which could improve customer service further. New products and technologies now enlarging banking network into the rural areas. New products will increase the size of banking.