June 27 - July 03, 2005

 

PAKTEL'S BEACH RESCUE SERVICE

Pakistan's first mobile telephone service company, Paktel, has taken the initiative of ensuring the availability of a proper beach rescue service for beach-goers, by entering into an agreement with a specialized NGO, Pakistan Aquatic Life Saving (PALS). The service is initially to be launched at Clifton Sea View beach which receives thousands of visitors daily, especially in the hot summer months and who run the serious risk of drowning as most of them do not know how to swim.
"Pakistan is happy to be associated with PALS in this very noble mission that will benefit people from all strata of society," said Paktel's CEO Xavier Rocoplan, adding: "The beaches of Karachi represent one of the few recreational opportunities for not only the citizens of Karachi but for people coming from all parts of the country. A beach rescue service was essentially required and today it is a reality."

 

 

HABIB BANK JOINS MNET

Habib Bank Limited has signed an agreement with MCB to join the MNET Merchant Network for wider acceptance of Habib Bank cards. The agreement was signed by Mr. Mohammad Aftab Manzoor, President & Chief Executive, MCB and MR. R. Zakir Mahmood, President & CEO, Habib Bank Limited at a ceremony held at MCB Tower, Karachi.

The agreement has laid down the foundation for the two icons of the banking industry to join their hands for providing enhanced services to the customers. As a result of this agreement, Habib Bank's cardholders who were already using their cards at the countrywide MNET ATMs can now make purchases through their cards at thousands of MNET Merchant locations. MNET currently has the largest Debit Merchant Network in Pakistan equipped with the state of the art Point of Sale terminals. MNET Merchant Network is also referred by various other Banks' customers because it provides enhanced security to the cardholder through PIN authorization with internationally accepted standards.

BE 'TOGETHER WHEREVER' WITH MASTERCARD

MasterCard International, a global payments leader, has launched 'Together Wherever' promotion in Pakistan, which gives MasterCard cardholders the opportunity to win 'priceless' travel experiences.

MasterCard cardholders, from participating banks, simply have to use their MasterCard debit or credit card, their Maestro cards or their MasterCard Electronic card at any one of the 24 million worldwide acceptance locations to have a chance to win.

Each time a MasterCard cardholder uses their card for any transaction between June 7 and September 3O, 2005, they will automatically be entered into a prize draw for a chance to win a 'priceless' travel experience. Cardholders can double their chances of winning by using their MasterCard card for any transaction whilst abroad. One lucky winner will receive a prize of Rs 1,118,90O, which will be credited to their MasterCard card account.

Commenting on the promotion, Karen Hargreaves, Director Marketing, MasterCard International, Middle East and North Africa said, "Holidays, travel and leisure are important aspects of our cardholders' lifestyle. We hope that those MasterCard cardholders lucky enough to win use the prize money to fulfill a dream and take a trip of a lifetime; whether a short vacation, a visit to family or friends, a trip home or an exotic location, near or far."

 

 

"Our 2005 summer travel promotion gives our cardholders, whether at home or abroad, the opportunity to, once again, take advantage of the added value of being a MasterCard cardholder. Now, when purchasing everything that matters, such as groceries, petrol, hotel rooms or entertaining, cardholders can enjoy the convenience and safety of using their MasterCard card at an ever increasing number of merchant locations, and get an opportunity to win a fantastic prize" she added.

For further details about the promotion and terms and conditions, refer to your local participating bank or visit www.mastercard.com/ae. Winners of the promotion will be announced by participating banks in October 2005.

FAYSAL BANK ACHIEVES RS 7, 247MN FINANCIAL CLOSE FOR ATTOCK GROUP OF COMPANIES

Financial close of PKR 7,247 million debt syndication for the Attok Group of companies was held at an impressive ceremony at a local hotel in Karachi. The ceremony was attended by senior bankers representing some of the leading banks in Pakistan as well as leading personalities from Karachi.

Faysal Bank Limited, the lead Advisor & Arranger has successfully achieved financial close of PKR 7,247 million syndicated term finance facility for Attock Group of companies comprising Attack Refinery Limited and Pakistan Oilfields Limited, Allied Bank Limited is the Co-lead Advisor & Arranger for the transaction. The facility has achieved a successful financial close within a record short period with participation from 15 financial institutions including Allied Bank Limited, Bank Al-Habib Limited, Dawood Bank Limited, Metropolitan Bank Limited, Habib Bank AG Zurich, Faysal Bank Limited, First Women Bank Limited, Pak Libya Holding Company Private Limited, Pak Oman Investment Bank Limited, PICIC Commercial Bank Limited, Prime Commercial Bank Limited, SaudiPak Industrial & Agricultural Investment Company Private Limited, Soneri Bank Limited, The Bank of Khyber and Union Bank Limited. Allied Bank Limited is the largest participant in the transaction with PKR 2,900 million cumulative participation.

Faysal Bank Limited has played a pivotal role in facilitating the Attock Group for successful acquisition of strategic asset. Out of the total debt Rs. 4, 547 million is being borrowed by ARL while POL is raising Rs.2,700 million.

Attock Group, led by Dr. Gaith Pharon, comprises some of the leading entities in the oil and gas sector. The group has invested in all segments of the oil sector like oil exploration (Pakistan Oilfields Limited), refining (Attock Refinery Limited) and oil marketing (Attock Petroleum Limited). The Group has diversified interests in the cement sector through Attock Cement as well as welfare activities through Attock Hospital. The Group comprises team of professionals with years of work experience in their respective fields.

The group has undertaken numerous expansion and exploratory project s in the recent years. White oil pipeline project to Peshawar and IPP Project are some of the projects under consideration by the Group. The Group has recently acquired strategic interest in the National Refinery Limited from the Privatization Commission.

Faysal Bank Limited has emerged as one of the largest private sector banks in Pakistan and provides banking services to some of the leading corporate entities in the country in all areas of businesses. Faysal Bank Limited is one of the leading providers of investment banking services including corporate finance and advisory. The bank has diversified asset portfolio spread across oil & gas, telecommunication, textile, cement, etc.