Tag Archives: Bank Alfalah

Bank Alfalah achieves Centennial Mark for its Islamic Banking Branch Network

Karachi, January 07, 2013 (PPI-OT): Bank Alfalah, owned and operated by the Abu Dhabi Group is pleased to announce that it has surpassed the centennial branch mark with the opening of its 100th branch at Bokhari Commercial, DHA Phase VI, Karachi. Today, the Bank boasts a nation-wide network of 110 Islamic banking branches and is ranked the no.2 Islamic Bank in Pakistan.

Bank Alfalah’s Chief Executive Officer, Atif Bajwa said, ‘We are pleased to cross the century mark for our Islamic Banking branches – this is a major milestone for the Bank. Since inception in 2003, Bank Alfalah’s Islamic banking has evolved into a vibrant entity.

I would like to give credit to Mr Ijaz Farooq, Head of Islamic Banking who has ably led a team of dedicated individuals whose efforts and commitment have made this milestone possible. We remain focused on developing an innovative range of Shariah compliant products and services based on the requirements of our customers. We are optimistic that with the addition of new branches, we will be able to further enhance customer convenience and serve our clients even better.’

Islamic Banking remains a top priority area for the Bank. It will continue to focus on introducing new products, services and expanding its network for its customers in the country.

For more information, Contact:
Mariam Agha
Head of Corporate Communications
Bank Alfalah
Tel: 111-777-786 Ext 2269
Mobile: 0300-8255119
Email: mariam.agha@bankalfalah.com

Healthcare Centre opened in Balochistan by donation from employees of Abu Dhabi Group member companies

Ziarat, November 20, 2012 (PPI-OT): An inauguration ceremony was held in Ziarat, Baluchistan to celebrate the opening of a healthcare centre sponsored through one day salary donations of the employees of the Abu Dhabi Group member companies, including Bank Alfalah in the aftermath of the 2008 earthquake.

The ceremony was attended by ministers, bureaucrats, corporate and social sector representatives including Moulana Abdul Samad Akhundzada, Provincial Minister for Forest, MPA District Ziarat, and Mr. Asmatullah Kakar, Secretary Health Department, Government of Baluchistan, Dr. Maqbool Ahmed, District Health Officer Ziarat. Bank Alfalah’s Shahab bin Shahid, Group Head Retail and Middle Markets and Masood Ahmed Awan, Area Manager, Baluchistan Retail and Middle Markets were also present at the inauguration.

Bank Alfalah’s CEO Atif Bajwa said, “I am proud of the community spirit and solidarity demonstrated by Bank Alfalah’s employees and other member companies of the Abu Dhabi Group. The total employee contribution towards the 2008 earthquake relief was approximately Rs18.4 million –a remarkable demonstration of the collective strength of our people. I am optimistic that this health care centre will support the Government of Baluchistan in its efforts to provide quality healthcare to the people of this province and am grateful to them for their support towards this initiative.”

In the aftermath of the 2008 earthquake, the Abu Dhabi Group undertook an initiative to support the victims of this disaster through requesting employees of Bank Alfalah, Warid and Wateen to contribute one-day of their salary as donations. Today, based on those employee contributions, a fully operational mother-child healthcare centre with medical equipment, ambulances and medicine provisioning has been successfully completed in Baluchistan.

Supporting sustainable community causes are key priorities for Bank Alfalah and the Abu Dhabi Group. They remain committed to growing in alignment with the core principle of responsible finance and giving back to communities and their employees play a meaningful role in helping them achieve this objective, both through financial support and volunteerism.

For more information, Contact:
Mariam Agha
Head of Corporate Communications
Bank Alfalah
Tel: 111-777-786 Ext 2269
Mobile: 0300-8255119
Email: mariam.agha@bankalfalah.com

Bank Alfalah to launch first student International Student Identity Card in Pakistan

Karachi, September 10, 2012 (PPI-OT): Bank Alfalah recently signed an agreement with Alive Asia for jointly launching the first co-branded International Student Identity Card (ISIC) in Pakistan. The ISIC allows students access to over 41,000 local and international benefits and services from 125,000 locations across 124 countries globally.

It is the only internationally recognized student identity card acknowledged and supported by UNESCO, universities, academic institutions and governments worldwide. Alive Asia is the official licensed authority, appointed by ISIC Association, to issue, distribute, promote and develop the ISIC Card in Pakistan.

It has partnered with Bank Alfalah to bring this unique one of its kind debit card to the youth of Pakistan, offering them access to funds with countless benefits and discounts for their specialized educational and lifestyle needs both locally and internationally.

Mr. Atif Bajwa, CEO Bank Alfalah said on the occasion, “The youth of Pakistan represents 40% of our population, and it has emerged as a potential untapped customer segment that has unique needs and preferences; be it for education, travelling, dining or interest based activities.

We are confident that this partnership will give us the advantage to be the first financial institution in Pakistan to not only recognize the emerging needs of the youth but also be fully equipped to offer them countless customized student benefits and service options along with readily accessible funds, locally and internationally through the recognized ISIC global outreach program menu that has been built over 50 years of insights into this particular segment.”

Mr. Qaiser Raza Sheikh, CEO Alive Asia said, “ISIC is very excited to have Bank Alfalah in Pakistan as their banking partner of choice. We are most excited about providing the youth of Pakistan access to over 41,000 discounts at over 126,000 locations worldwide and foresee our partnership with Bank Alfalah strengthening with time as we create and provide immense value for money to the students and youth of Pakistan.”

For more information, Contact:
Mariam Agha
Head of Corporate Communications
Bank Alfalah
Tel: 111-777-786 Ext 2269
Mobile: 0300-8255119
Email: mariam.agha@bankalfalah.com

Bank Alfalah celebrates Independence Day with immense fervour

Karachi, August 14, 2012 (PPI-OT): Bank Alfalah has been sharing the celebrations of Independence with the people of Pakistan with great fervor since fifteen years. On the 65th year of independence, special arrangements were made by Bank Alfalah to light up the country’s historical monuments maintained by the Bank as part of its CSR initiatives. Huge Pakistan flags were erected at Teen Talwar (Three Swords) and Dou Talwar (Two Swords) and the white marble monuments shone green on 14 August, imitating the spirit of independence.

Speaking on the occasion, Atif Bajwa CEO of Bank Alfalah said, “Bank Alfalah has been serving the country since fifteen years and we feel honored to have touched the lives of millions of Pakistanis, in an effort to play a part in the progress and growing prosperity of this great nation. We wish this great nation happy 65 years of independence and look forward to a richer and even more rewarding tomorrow.”

For more information, Contact:
Mariam Agha
Head of Corporate Communications
Bank Alfalah
Tel: 111-777-786 Ext 2269
Mobile: 0300-8255119
Email: mariam.agha@bankalfalah.com

International Finance Corporation to design Banking Business Model for Bank Alfalah – Bank’s service capabilities will strengthen significantly

Karachi, July 09, 2012 (PPI-OT): IFC, a member of the World Bank Group launched its Advisory services with Bank Alfalah today to design a new SME Banking Business Model for the Bank. This new business model is intended to help further improve financial access to small and medium enterprises in Pakistan and offer financial advisory service through new tools and skills being developed, increasing their ability to repay loans, improve their business practices and hence support the growth of their businesses.

This initiative will greatly strengthen Bank Alfalah’s capabilities to service the bank’s SME customers with extensive solutions and expand its market share in this fast growing segment. Mr. Atif Bajwa, CEO Bank Alfalah said on the occasion, “There is tremendous growth in the small-scale entrepreneurs in Pakistan; however they have been long troubled getting the financing access and right financial advisory services for their financial and banking needs, which limits their growth prospects. Our strategic focus for the coming years is to bridge this gap and become partners for our SME.

Our interest in seeking help from IFC is intended to strengthen and refine such capacities and attain the next level of efficiency by offering our customers an assortment of asset and liability products along with dedicated platforms of convenient, easy to use, low cost transaction solutions and advisory services across our far reaching branch network.”

He continued, “IFC carries a rich history of extending specialized services in developing and refining business strategies across various emerging economies around the globe, particularly our region. We are certain that with their assistance and State Bank of Pakistan’s support, we will become fully geared to unleash the promising potential of this significantly under banked sector and the most fundamental source of economic development and growth of the country in the coming years.”

Kaiser Naseem, Head of IFC’s Bank Advisory Services in the Middle East and North Africa said, “This visionary project by Bank Alfalah will help in bringing SME customers at the forefront of the banking sector’s focus in Pakistan and the success of this joint initiative will surely demonstrate to the financial market the tremendous benefits of serving this segment in the country.”

For more information, Contact:
Mariam Agha
Head of Corporate Communications
Bank Alfalah
Tel: 111-777-786 Ext 2269
Mobile: 0300-8255119
Email: mariam.agha@bankalfalah.com

Bank Alfalah to expand branches network in Pakistan

LAHORE: The Bank Alfalah and Abu Dhabi Group is not looking to exit Pakistan through divestment or sell-off and they will very much stay in Pakistan.

The Bank Alfalah CEO, Sirajuddin Aziz, stated this while addressing the members, investors, analysts and media representatives at the Corporate Briefing Programme of Bank Alfalah Limited at Lahore Stock Exchange on May 18, 2011.

The CEO said, “On the contrary, the Bank is aggressively looking for growth opportunities in Pakistan, which is evident from the expansion of its branch network across the country.”

Presenting a detailed overview of the Bank`s operations and future expansion plans, he said the Bank, which started operations in 1997 with just three branches and virtually no banking infrastructure is today the 6th largest bank in Pakistan with 386 branches in 150 towns, over 400 billion rupees (48 billion US dollars) in assets and is still growing rapidly.

The bank is planning to open 24 more branches and looking for opportunities to expand foreign operations in Hong Kong & Beijing in addition to Bangladesh, Afghanistan, UAE & Bahrain. The Bank also has the distinction of having the second largest Islamic Banking operations in Pakistan.

Commenting on the perception of higher interest rates being changed by the banks in Pakistan, the CEO said that this issue requires more subjective analysis because while the old and more established banks have low cost assets, an new comers of young banks such as Bank Alfalah have a much higher costs of deposits.