Al Meezan Investments and Samba Bank sign

distribution agreement

KARACHI (PR): Al Meezan Investment Management and Samba Bank Limited marked the beginning of a new business partnership by signing distribution agreement.

Samba Bank is a subsidiary of Samba Financial Group, Saudi Arabia. Al Meezan Investments is Pakistan’s largest private sector Asset Management Company.

The signing ceremony was held at Samba Bank Head Office Karachi in the presence of senior officials from both organizations including Mr. Mohammad Shoaib, CFA (Chief Executive Al Meezan) and Mr. Shahid Sattar (CEO & President Samba Bank).

Speaking at the occasion, Mr. Mohammad Shoaib said “It gives an immense pleasure to have Samba Bank on board as distribution partner for our Meezan Family of Funds. We look forward to expand our reach through the wide distribution network of Samba Bank across the country. Through this relationship, we also intend to offer our investment solutions to the bank customers and help them in achieving their financial goals in a Shariah compliant manner.”

With a solid track spanning over 20 years, Al Meezan is one of the pioneers in private sector mutual funds in Pakistan. It is the largest asset management company in private sector in Pakistan currently managing assets of Rs.71.57 Billion (as on December 31, 2015). Al Meezan is a group company of Meezan Bank Limited and Pakistan Kuwait Investment Company Private Limited. Al Meezan offers a complete range of portfolio of Shariah Compliant investment solutions to meet varying investor requirements and has nationwide presence through 12 branch offices and MBL branches across Pakistan to meet the varying investment needs of its investors which exceed 38,000 clients.

For more details, visit Al Meezan’s website: http://www.almeezangroup.com/

Ill manufacturing large diameter steel pipes

KARACHI (PR): International Industries Limited (IIL), inaugurated its state-of-the-art large diameter pipe mill, installed at a cost of Rs. 700 million, in Karachi on January 27th 2016.

This large diameter steel pipe manufacturing facility will not only allow IIL to produce hollow structural steel sections to modernize and reform the construction and engineering industry but will also allow IIL to cater to the increasing demand of API (American Petroleum Institute) line pipes for the Oil & Gas industry in the wake of the impending TAPI, Pak-Iran and LNG gas pipelines.

The plant was inaugurated by the Managing Director of SSGC, Mr. Khalid Rehman. A number of notable dignitaries attended the event including: the Honourable Counsel General of Malaysia, Mr. Ismail bin Mohamad Bikri and The General Manager of Sumitomo Corporation Mr. Sakai along with the Board of Directors of IIL.

Chief Guest, Mr. Khalid Rehman said that this was “a great initiative in terms of product and facility expansion” and that “such initiatives are very important because we need more pipeline suppliers to meet extensive demand”. Additionally, he remarked that IIL’s expansion in large diameter pipes will “add value in creating healthy competition in price & quality”

With the addition of this plant, IIL doubles its capacity to 500,000 tons per year and reaffirms its commitment to providing high quality pipes & tubes to the domestic and international markets.

About International Industries Limited (IIL)

International Industries Limited (IIL) is the premium producer of steel tubes, galvanized iron pipes and plastic pipes in Pakistan. The Company has an annual turnover of more than Rs. 20 billionand a manufacturing capacity of 500,000 tons - making it the undisputed market leader in all segments of pipe. Additionally, IIL pipes are exported to more than 47 countries across 6 continents – making it a truly international company. IIL’s subsidiary International Steels Limited (ISL) is the premium producer of galvanized, cold rolled and colour coated coil in Pakistan and has a turnover of Rs. 20 billion.ISL also began commercial operation of its Rs. 3.2 billion expansion project in January which has doubled its capacity to 500,000 tons.

For more information, visit www.iil.com.pk

Telenor, Bookme.pk partner to deliver online bus and movie tickets

Islamabad (pr): Aimed at further facilitating its customers in every possible way besides ensuring their digital inclusion, Telenor Pakistan has extended its partnership with Bookme.pk through which Easyshops across the country will be equipped with the facility to issue online tickets for buses and moviesin Karachi Lahore and Islamabad, with more support for more cities coming soon.

As per the terms of the agreement, the said Easyshops have been installed with a bespoke Bookme.pk e-Ticketing portal. The new system will enable walk-in customers to book and pay for their bus and movie tickets on the spot, completely eliminating the need to physically go to bus stands and cinemas, and stand in long queues. Already in place, the service features instant delivery of e-Tickets for bus and movies via email or SMS code which are shown to and accepted by respective cinema or bus service.

In November last year, Easypaisa, Pakistan’s first and largest branchless banking service and a joint venture of Telenor Pakistan and Tameer Microfinance Bank, entered into the agreement with Bookme.pk to facilitate mutual customers in the hassle-free and instant booking and purchase of bus and movie tickets.

In just two months of partnering with Easypaisa, Bookme.pk has started to process an average of 1500–2000 tickets per day and expanded their teams to Karachi, Lahore and Islamabad to deliver physical tickets to their customer addresses. Furthermore, through the fruitful Easypay,payments can now be collected through Easypaisa mobile accounts, credit/debit cards as well as cash payments at any Easypaisa shop.

With Telenor Pakistan now entering into the agreement, the partnership is set to touch new heights of success while helping both partners reach their respective customer-centric goals faster. Additionally, the partnership will be facilitating the uptake of e-commerce in Pakistan by creating and enhancing awareness about the potential of digital financial services in Pakistan’s emerging e-commerce market besides increasing the outreach of the service.

While commenting on the development, Irfan Wahab Khan, Deputy CEO and CMO, Telenor Pakistan said: “This valuable partnership between Telenor Pakistan and Bookme.pk is fully aligned with our vision of facilitating people through inclusive digital solutions. This enablement will not only bring ease and convenience to Telenor Pakistan and Bookme.pk users, but also generate alternative revenues for the thriving e-commerce industry associated with both the financial players, including hundreds of Easyshops across the country. We are committed to forging new partnerships between various service sectors to bring ease and access to our customers to realize our dream of digital inclusion.’’

Faizan Aslam, CEO Bookme.pk said: “Bookme.pk and Telenor Pakistan’s partnership will bring greater convenience as many people do not have credit cards but still want to buy tickets online. We can now reach out to each and every customer across Pakistan who wants a ticket from Bookme.pk. This is just a beginning of a great partnership with much more to come.”

The strengthening of this partnership is a part of Telenor Pakistan’s commitment to facilitate its customers in all ways possible. Additionally, more transport services and theaters could be added to the list to take this partnership to the next level and make it more useful for the customers.

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