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.
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?
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
What change has come in the banking and what changes you see in
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.
we having latest technologies in Pakistan or where we are if we compare
ourselves with developed countries?
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
Don't you think that hot competition in banking sector would end
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
what extend banking benefits have enlarged?
FAISAL IFTIKHAR: 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.
do you see present, past and future of banking sector in Pakistan?
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.