banking. For these requirements, Lloyds TSB wanted
to setup a flexible and effective Telephone Banking call center from
where it could provide information and services to its existing and
potential customers, 24 hours a day.
The key criteria for selection included a reliable,
scalable and future safe technology from a dependable solution
provider that has a proven track record of performance. Management of
Lloyds TSB evaluated several offerings from Dubai's local and
international market. Lloyds TSB selected solution from ZRG
International, Pakistan because of ZRG's strong technical expertise
and know how in Banking Call Centers, its modular approach and total
Mr. Ayub Butt, CEO ZRG International, while
commenting on the occasion said, ZRG has made history by exporting
call center solutions to domestic as well as to leading companies
abroad. In the year 2003, ZRG became the first telecom solutions
company in Pakistan to start exporting call center technology to the
international market. The customer was a leading cellular service
provide in Tanzania, East Africa In year 2005, Serco Gulf a leading
facilities management company of UK, selected ZRG Call Center solution
for their UAE customer services and support requirements. Recently,
Lloyds TSB Dubai, a subsidiary of Lloyds Bank UK has selected ZRG for
their customer services call handling requirements. These events have
elevated the image of Pakistan in the international market and now
Pakistan is considered as the exporter of advanced telecommunication
MS. ZARINE AZIZ WINS INTERNATIONAL BUSINESS AWARD
Ms. Zarine Aziz, President, First Women Bank Ltd.,
has been awarded the International Business Award (IBA), at the Annual
International Business Award's ceremony in New York, USA. The IBAs are
the only global, all encompassing business awards program honouring
great performances in the workplace.
Ms. Aziz was recognized as the 'Best Turnaround
Executive'; and shares the honour in that category with Edward D.
Breen, Chairman & Chief Executive of Tyco International, an
She is the first ever Pakistani to receive this
prestigious award. Other recipient companies of this award in various
categories are Rolls-Royce plc, United Kingdom, Microsoft, USA, Adobe
Systems USA, Henkel KGaA, Germany, Hill & Knowlton, China, Cincom
Systems USA, Grenock, Star Syringe Ltd. of East Sussex England,
Reliance Industries Ltd, India, Bank of Montreal Canada.
Recipients of 76 International Business Award
trophies were selected from more than 600 nominations received from
companies and individuals in more than 30 countries including
Argentina, Argentina, Australia, Brazil, Canada, China, Croatia, the
Czech Republic, France, Germany, India, Indonesia, Italy, Korea,
Nigeria Pakistan, Spain, Sweden, Thailand, United Arab Emirates, the
United Kingdom, and the U.S.A.
MOBILINK'S CAPITAL INVESTMENT CROSSES $ 1 BILLION
Mobilink, the country's favourite cellular company
has surpassed US $1 billion mark in capital investment during the
ongoing 2005 financial year, emerging as the largest private sector
investor in the telecom industry in Pakistan.
Mobilink has achieved this historic mark in a short
span of 11 years since its inception in 1994. Its investment till last
year was over US $ 750 million. However, as it continued to invest in
expanding its capacity and coverage across the country, driven by
phenomenal growth in its subscribers' base, the company has invested
an additional US$ 300 million to date and another US$ 250 million is
planned for the remainder of 2005. This will take Mobilink's coverage
from its current presence in 350 cities, towns and villages to over
450, including all major roads and motorways, by the end of the year.
With a total investment to date of over US $1 billion, the company
continues to consolidate its position as the clear market leader in
the mobile sector in Pakistan. In addition Orascom Telecom is
investing heavily in establishing an optic fiber backbone, and an
undersea cable project in the country.
The company's subscriber base had exceeded 5
million at the close of the year 2004. At the end of the first quarter
2005 the subscribers' base has surged to over 6 million users.
"It is the confidence put in Mobilink by its family of over 6
million users and the stability and transparency of the present
governments' policies that has led our shareholders, Orascom Telecom
to continue so heavily in this sector", said Zouhair Khaliq,
President and CEO while speaking to a select gathering of journalists.
BASE II: CHALLENGES & SOLUTIONS
Teradata, a division of NCR Corporation (NYSE:
NCR), and Alchemy Associates held a seminar on the Basel II:
Challenges & Solutions at the Sheraton Karachi on May 31, 2005,
with attendance from top executives from all banks of the country,
including chief executive officers, chief financial officers, chief
technology officers and risk managers.
This seminar endeavoured to enlighten and inform
the market with global and local perspectives on the challenges
involved in this undertaking and create awareness about the possible
solutions to allow banks to adopt better risk management, risk
mitigation and risk-based pricing techniques in order to effectively
comply with this essential regulatory requirement for all banks.
"The need for implementing the Basel II
regulatory requirement is an essential yet complex undertaking and
presents a challenge to the banking industry," said Bader ul
Islam of NCR in Pakistan, Bangladesh and Afghanistan. "NCR, Both
globally and locally, is committed to bringing technology solutions to
address this imperative need of the industry."
The speakers included Simon Doherty, Director of
Risk and Financial Management, Europe/Middle East/Africa Finance
Center of Expertise at Teradata, and Jawwad Farid, CEO of Alchemy
Associates, Pakistan, both having extraordinary knowledge of the
international as well as local financial industry. They gave a
detailed overview on the challenges, implications and solutions
related to Basel II implementation in the country.
"Basel II represents the biggest change to hit
the banking sector in a generation, and this seminar provided banks in
Pakistan with the opportunity to learn how their peers around the
world have responded to this enormous challenge," said Simon
Jawwad Farid said, "I think it is the first
event of its kind in Pakistan that focuses on the implementation
challenge of Basel II. Timing is also very apt given the Basel II road
map deadlines laid out by the Central Bank."
SBP GOVERNOR CONFERS AWARDS AT CFA CEREMONY
Governor State Bank of Pakistan, Dr. Ishrat Hussain,
has said that SBP Strategic Vision for 2005-2010 calls for export of
financial services to various countries of the world. This requires a
high degree of integrity and professionalism in investment and finance
professionals of the country which can be attained through the CFA
certification. The SBP encourages its employees to go for the CFA
certification and it is hoped that other financial institutions and
brokerage houses also emphasize this qualification, he said.
Addressing at the second Excellence Award Ceremony
by the CFA Association of Pakistan at the Royal Rode Club last week,
Dr. Ishrat Hussain lauded the efforts of the association in
commemorating investment institutions and individuals for best
services to investors.
He stressed the importance of league awards in the
financial sector and said that this is a welcome initiative of the
CFAAP. All over the world league awards are the benchmark for
investors, however, this was absent in Pakistan till now.
The award winners for the year 2003-2004 were
Invest Capital Pvt. Ltd. in the category of The Best Equity Brokerage
House; Mr. Mohammad Sohail was honored as The Best Equity Research
Analyst; United bank Limited was named The Largest Investment Bank;
while Standard Chartered walked away with the prize for The Most
Innovative Corporate Finance Transaction.
The award ceremony was followed by a presentation
by Lawrence S. Speidell CFA, Executive Vice President, Laffer
Associates, USA, who spoke on the groundbreaking topic of
"Behavioral Finance". Dr. Ishrat Hussain appreciated the
theories presented by Mr. Speidell.
HBL CONDUCTS AUTO-FINANCE PRIZE DRAW
Habib Bank Limited (HBL) conducted the bumper lucky
draw ceremony for its recently concluded auto finance campaign, titled
'Buy one, get one free'. Under this promotional campaign, all those
customers who had applied and were approved for availing the leasing
facility during the time period of April 7-May 14, 2005 were
automatically entered into this lucky draw.
The first prize was a free car similar to the one
the winning customer has originally booked, while three other lucky
winners were awarded return tickets to Dubai.
DHA LAUNCHES EXTENSION SCHEME
The Defence Housing Authority Islamabad has given a
new dimension to the field of Housing in collaboration with world's
renowned multinational companies like "Emmar Properties" Al
Ghurair Giga from Dubai and Maxcorps from Malaysia, says a press
Defence Housing Authority Islamabad launched
Phase-1 Extension scheme with a broad based criteria on 20th April
2005. As per commitment, Defence Housing Authority Islamabad arranged
computerized ballots on 10th June 2005. Lt. Gen. Waseem Ahmed Ashraf
HI (M), President Defence Housing Authority Islamabad and Adjutant
General Pakistan Army graced the occasion as chief guest. He was
received by Vice Chairman Maj. Gen Zaka Ud Din Malik HI (M) and Col.
Muhammad Asghar Khan, Administrator Defence Housing Authority
Islamabad. Besides the applicants, the plot files of Phase 1 Extension
were also balloted for allotment of plot numbers.
Defence Housing Authority Islamabad received 41,259
applications from all over Pakistan for Phase-1 Extension scheme. The
results of serving Armed Forces officers have been sent to their
respective formations/headquarters, and therefore are not being
published in the newspapers.