AKBL, Honda sign deal for Riba-free motorbikes scheme

KARACHI (PR):  Askari Bank Limited (AKBL) through its Islamic banking operations has partnered with Atlas Honda Limited (AHL), the largest producer of motorbikes in Pakistan for the launch of Riba free motorbikes Ijarah facility for salaried class.

Both the entities have signed a memorandum of understanding (MoU) at the Atlas Honda Head Office here.

The programme was attended by President and CEO Askari Bank Limited, Syed Majeedullah Hussaini, Country Head, Askari Islamic, Fahd Sardar Khan, Head of Credits, Askari Islamic,Imran Omar Awan, Regional Head Credits, Askari Islamic, Shaikh Salman Tahir, Team Leader Credits, Askari Islamic, Salman Farrukh, CEO Atlas Honda Limited, Saquib H. Shirazi, CEO Honda Atlas Cars (Pakistan) Limited, Takeharu Aoki, CEO Honda Atlas Power Products (Pvt) Ltd, Hisao Kobayashi, Director Business Planning Division Atlas Honda Motor Company Ltd., Kazuhisa Hirota and other senior executives of Atlas Honda Limited and Askari Bank, said a press release on Monday.

DIB earns Rs 211m profit

LAHORE (PR): The Board of Directors of Dubai Islamic Bank Pakistan Limited (DIBPL) recently held a meeting to approve its financial statements for the year ended December 31, 2013. DIBPL is a fully owned subsidiary of Dubai Islamic Bank UAE, the world’s first Islamic Bank.

The Year 2013 marked numerous achievements for DIBPL. On the financial side, the Bank reported a year-end profit before provisioning of RS 668 million and due to provisioning of Rs 456 Million against non-performing Islamic Financing assets the Bank now has a profit before tax of Rs 211 million.

 Furthermore, a 27pc deposit growth was achieved in comparison to 2012, taking total deposits to Rs 68pc billion in 2013. On the asset side, DIBPL’s asset base rose by 26% in contrast to 2012 increasing the asset base to Rs 80 billion in 2013.

Standard Chartered

holds exhibition

LAHORE (PR): Building on our brand promise Here for good, Standard Chartered organised The Artists’ Vision: Seeing is Believing – an exclusive exhibition featuring diverse disciplines of Pakistani Art: Drawing, Painting, Photography, Sculpture, Ceramics and Music.

Consistent with the Bank’s philosophy of understanding and celebrating local culture, Standard Chartered is committed to community based programmes and to, supporting and showcasing the works of Pakistan’s artistic talent.

EBM sponsors Neonatal Unit at AKUH

KARACHI (PR): A major project to expand the Neonatal Intensive Care Unit at the Aga Khan University Hospital (AKUH) was launched. The project, fully sponsored by English Biscuit Manufacturers Private Limited (EBM), maker of Peek Freans biscuits will be completed by the end of this year. The expanded state-of-the-art NICU will increase the number of beds from 12 to 24 and its proximity to the labour and delivery rooms will allow premature newborns to be transported quickly to intensive care and the specialist neonatal team.

SAS holds seminar

KARACHI (PR): SAS®, the leading provider of business analytics software and services, conducted a seminar in conjunction with New Horizon on Enterprise Risk Management & Fraud in a local hotel. Speakers were Valery Olivier (Main Speaker) Sales Director Risk Management for Mideast, Africa & Turkey (SAS), Raheem Eqbal, COO New Horizon, Khurram Yamin Regional Sales & Channel Partner Manager for Pakistan, Qatar & Afghanistan (SAS).

With regulatory requirements in perpetual state of flux, financial institutions are constantly trying to adapt. Failure to comply can threaten a bank’s very survival.

PTCL signs MoU with WWF to reduce carbon footprint

ISLAMABAD (PR): PTCL has signed an agreement with World Wildlife Fund (WWF). The programme is aimed towards reducing resource consumption, subsequent costs and carbon footprint of the company that would eventually help in environmental conservation.

The agreement will enable PTCL to monitor and reduce its carbon footprint in collaboration with WWF and work towards developing green organisational practices. Syed Mazhar Hussain, CHRO PTCL, said “Environment and energy crisis are the key issues our country is facing at the moment, and it is the responsibility of every individual and organization to take necessary measures in their respective domains.