Bank Alfalah, IFMP sign MoU

ISLAMABAD/KARACHI (PR): A memorandum of understanding has been signed between the Institute of Financial Markets of Pakistan (IFMP) and Bank Alfalah.

Ali Sultan, Group Head Treasury, Capital Markets and FI, at Bank Alfalah Limited and Riaz Ahmed, company secretary and CFO of the IFMP, signed the MoU. Dr Izhar Hussain, chairman IFMP, and Nauman Ansari, president and CEO of Bank Alfalah, Saqib Khan from USAID, and Aly Jafferani, Chief of Party, USAID Financial Market Development (FMD) Activity, were also present at the signing ceremony held at Bank Alfalah’s head office in Karachi.

Under this MoU, the IFMP (the only SECP accredited securities market training institution in Pakistan) and USAID Financial Market Development Activity will jointly train financial market professionals to better understand and increase their skills in marketing, trade, and the investment of fixed income products under the “Fixed Income and Trading Investment” Certification course. The course will also enhance practitioners’ ability to assess the risks related to credit products and the techniques for managing such risks. Over 35 trainings have been conducted so far across Pakistan at universities and local banks benefitting over 3000 participants. Under the MoU, a series of trainings will also be held for Bank Alfalah.


Meezan Bank collaborates with IoBM


KARACHI (PR): Meezan Bank, Pakistan’s first and largest Islamic bank, and Institute of Business Management (IoBM) Karachi recently signed a memorandum of understanding to facilitate capacity building in the country’s small and medium enterprises (SME) sector. The MoU highlights a collaborative framework for launching specialised MBA Programme in ‘SME Banking & Entrepreneurship’. Talib S Karim, president IoBM, Irfan Siddiqui, founding president & CEO Meezan Bank, and Imran Ahmad, additional director SBP, attended the signing ceremony.

Meezan Bank’s recent association with the International Finance Corporation (IFC) for provision of advisory and technical services for SME business vertical has been further extended to engage the country’s academia. The specialised MBA Programmes are therefore being designed to meet requirements of both young entrepreneurs and SME bankers in the country. This collaboration will allow structuring of a program that covers challenges of SME industry such as cash flow lending, programme lending, trade financing, value chain financing and SME advisory.


PTA approves investment in telecom tower-sharing services company

ISLAMABAD (PR): Edotco Pakistan Private Limited (edotco PK) has obtained the approval of Pakistan Telecommunication Authority (PTA) on the change of shareholding in edotco PK by way of subscription by Dawood Hercules Corporation Limited (DH Corp) of 45% of the share capital of edotco PK, an end-to-end telecom infrastructure services company. This positive decision of the government and the regulator is a welcome promotion of the digital agenda making Pakistan an attractive destination for foreign investment.

The above marks one of the approvals related to the transaction steps on the acquisition by edotco PK of Jazz’s portfolio of 13,000 tower assets currently under Deodar Private Limited (Deodar). Further regulatory approvals are in process of being granted by PTA on the change of shareholding structure in Deodar, and by SBP on the funding of the acquisition.


Shabbir Tiles hold event


KARACHI (PR): With various international certifications and production of world class ceramic products, Pakistan is geared to become the regional hub in tile manufacturing, said Paolo Malavasi, representative of Centro Ceramico - Italy, an international quality standards certification organisation. He was speaking at a ceremony organised by Shabbir Tiles (Stile) in honour of country’s leading architect Nayyar Ali Dada, who received “Hilal-e-Imtiaz” recently for his contribution in the field of architecture.

Paolo revealed that Centro Ceramico recently certified Pakistan’s Stile porcelain tiles for meeting European/international quality standards and this can be a breakthrough for the country and helpful to explore foreign market for exports.


Nursery at NHA office inaugurated

ISLAMABAD (PR): NHA has initiated tree plantation alongside various motorways as part of the initiatives of environmental improvement and afforestation campaign. Plantation along Burhan-Havelian Motorway and Islamabad Peshawar was started last month. In continuation of the same initiative, General Manager Environment Naila Baqir Rana along with Member Central Zone and GM Corporate Pakistan Tobbaco Company inaugurated a plant nursery at NHA office (Ghartal Camp) Faisalabad.

Ms Rana informed that this project is being done with Pakistan Tobbaco Company through public-private partnership. One million plants nursery has been established in Faisalabad and these plants will be utilised in plantation activities across motorway and highways.