Karachi(CliffNews): Pak-Qatar Takaful group in partnership with Institute of Business Administration’s Center of Excellence in Islamic Finance (IBA-CEIF) co-hosted a seminar on “Global Takaful Practices”. The key speakers at the seminar at IBA-CEIF are renowned internationally acclaimed Islamic Finance Scholars that include Dr. Sheikh Suleiman bin Mohammed Al Jewisser from Saudi Arabia and Mufti Muhammad Hassaan Kaleem from Pakistan. Pak-Qatar Takaful is the pioneer and largest Takaful group in Pakistan (comprised of Pak-Qatar Family Takaful and Pak-Qatar General Takaful companies). Pak-Qatar Takaful recently invited Dr. Sheikh Suleiman bin Mohammed Al Jewisser (a renowned Islamic Finance scholar) as their guest to visit Pakistan and share his latest International practices on Takaful. Dr. Sheikh Suleiman will meet various local Shari’a Scholars, Government Dignitaries, senior Islamic Bankers, State Bank of Pakistan officials, prominent Pakistani businessmen and Pak-Qatar Takaful Group management for understanding Takaful practices of Pakistan. Dr. Sheikh Suleiman, currently serves as Chairman of Shariah Advisory Board (Al-Rajhi Bank) Head of Shari’ah and Secretary to Shar’iah Board of Al Rajhi Takaful. Dr. Suleiman holds a Master’s degree in Islamic Shariah politics of the Higher Judicial Institute at Imam Muhammad bin Saud Islamic University, a specialist in Islamic Takaful adoption of the General Council of the Islamic banks and financial institutions. Mufti Muhammad Hassaan Kaleem is an eminent Shari’a Scholar of Pakistan and is a member of Pak-Qatar Family Takaful Shari’ah Advisory Board. He holds the degrees of Alimiyyah and Takhassus (specialization) in Islamic Jurisprudence (Fiqh) from Jamia Darul Uloom, Karachi and Centre for Islamic Economics. He is also a faculty member /teacher at the same institutions. Furthermore, he is a member of the curriculum committee of the National Institute of Banking and Finance (NIBAF). His areas of expertise are Islamic Finance and Takaful. He is Head of Shari’ah at both Dubai Islamic Bank Pakistan and Center for Islamic Economics, Pakistan. He is a frequent guest-speaker and lecturer at many different conferences, seminars and forums. The Chief Executive Officer of Pak-Qatar Family Takaful – Mr. Nasir Ali Syed stated that; “It is a great opportunity for the people of Pakistan to have the honour of interacting with Dr. Suleiman and get enlightened with his expertise of Islamic Finance and Takaful. Pak-Qatar Takaful has- always been committed to nurture highly competitive and learned managers for accelerating growth in this industry.” The interactive session with Dr. Suleiman was a blend of industrial insights and academic learning. Through this session, people were able to gain a clearer understanding of various Islamic financial services, including Shariah-compliant Investments and Takaful (The Islamic mode of Insurance). Moreover, Dr. Suleiman’s expertise will help in building solid foundation and knowledge-base, by engaging the Professionals, Entrepreneurs, Academicians, Finance Managers, Students, Human Resources Managers, Consultants and other stake-holders of the industry. High level guests from all Islamic Banks, Islamic Banking windows; Takaful companies & windows, Islamic University, businessmen and corporate clients from Pak-Qatar Takaful and various trade associations attended the event.
Lahore(CliffNews): Uber Pakistan has announced the commencement of its uberAUTO operations across Faisalabad. uberAUTO is Uber’s affordable and reliable rickshaw service, which is already operational in Karachi and Lahore. At the tap of a button, Uber will connect riders with the closest available uberAUTO rickshaw driver, who shall pick the rider up at the earliest. Riders will be able to see a photo of the driver, the license plate, and will be able follow them on the app as they make their way to the requested destination. uberAUTO also allows the ‘Share Status’ feature, where riders can share their current location with family and friends so they are aware of the route and expected arrival time at the destination. The base fare for hailing an uberAUTO is set at PKR 45, while riders will be charged PKR 5 per km for the trip and PKR 1.15 per minute as waiting charges. Speaking about the launch, Safee Shah, GM – Uber Pakistan, said, “Rickshaws are a convenient mode of transport when it comes to traveling short distances during peak traffic hours. For countries like Pakistan, Uber recognizes the value rickshaws bring to the transportation landscape, which is the reason why we are using our technology to offer more choices to our riders and economically empowering the rickshaw driver community.” uberAUTO has been launched for the convenience of riders who prefer affordable and safe alternatives to their daily commute. uberAUTO also allows for easy navigation during peak traffic hours in metros across Pakistan. In order to use uberAUTO, riders will need to download the Uber App from any App store and request a ride within the app.
What is Uber?
Uber is evolving the way the world moves through its app. By seamlessly connecting riders to drivers at the push of a button, we make cities more accessible, opening up more possibilities for riders and more business for our partner drivers and transport operators. Uber’s rapidly expanding global presence continues to bring people and their cities closer and is currently providing service in more than 600 cities across 77 countries on six continents. To request a ride, users must download the free application for Android, iPhone, Windows Phone, Blackberry 7, or sign up at uber.com/app. For more information, please visit: uber.com/cities.
RIYADH(CliffNews) – The Islamic Military Counter Terrorism Coalition (IMCTC) will host the Inaugural Meeting of the IMCTC Ministers of Defense Council. The Inaugural Meeting will take place in Riyadh, on November 26, 2017 / 8 Rabea al Awal 1439 H, under the theme “Allied Against Terrorism,” with the participation of Ministers of Defense of Coalition member countries, and delegates from diplomatic missions and international organizations in Saudi Arabia. The meeting marks the official launch of the IMCTC and strengthens the cooperation and integration of member countries in the Coalition. IMCTC is a pan-Islamic coalition of 41 countries that will coordinate and multiply their individual efforts to fight terrorism and extremism enabling them to work more effectively with other international security and peacekeeping efforts. IMCTC has established the Counter Terrorism Center as its operational arm. The Center’s mission is to build up the member the country’s Counter Terrorism capacity, exchange global best practice on specific IMCTC initiatives and createcoordinated and thus more impactful efforts across the four IMCTC domains; ideology, communications, counter terrorist financing, and military.
Karachi(CliffNews): Meezan Bank, Pakistan’s first and largest Islamic Bank has been recognized as ‘PMO of the Year’ in the PMI KPC Professional Awards 2017, held by the Project Management Institute Karachi Pakistan Chapter. Meezan Bank has been recognized under the category of Project Management Awards for Corporate Excellence – PACE, honouring organizations providing the best project management office services. The award was presented by Prof. Dr. Atta-ur-Rahman, Chairman of UN committee on Science, Technology and Innovation. Mr. Uzair Syed – Head of Project Management Office, Meezan Bank received this award on behalf of the Bank along with his team members including Ms. Umme Tameem Qazi – PMO Manager, Mr. Mohsin Zamir – Project Manager and Mr. Raheel Rizvi – Project Manager. The ‘PMO of the Year’ Award honours organizations that have demonstrated superior project management abilities by adding value through support of successful strategic initiatives. Meezan Bank has been recognized in appreciation of its projects and for demonstrating excellence and innovation in project management initiatives leading to measurable improvements in the organization’s business results. Meezan Bank’s success is attributed to its recent focus on embracing project management as a strategic tool for adding value to its overall organizational portfolio. The Bank’s recognition as PMO of the Year further reinforces its focus on consistently improving its strategic as well as operational planning. Project Management Institute (PMI) is a USA based not for profit organization with focus on project, program and portfolio management. Moreover, it pursues to mature the field by establishing standards, providing certifications, resources, tools, academic research, publications, professional development courses and networking opportunities. PMI Karachi Pakistan Chapter (PMI KPC) promotes project management professionalism by sharing and learning knowledge experiences. It is driven to elevate strong project management practices in the region by following the practices & procedures of its parent organization. Meezan Bank is the 8th largest bank in Pakistan and the leading Islamic bank of the country. The Bank provides a comprehensive range of Islamic banking products and services through a retail banking network of more than 570 branches supported by a countrywide network of over 570 ATMs, Visa & MasterCard Debit cards, a 24/7 Call Center, Internet Banking and Mobile Banking facility. Meezan Bank has consistently been recognized as the Best Islamic Bank in Pakistan by numerous local and international institutions, which is a testimony of the Bank’s commitment to excellence. These institutions include Islamic Finance News – Malaysia, Global Finance magazine – New York, Asset AAA – Hong Kong, Asiamoney – Hong Kong, The Banker – United Kingdom, South Asian Federation of Accountants, Islamic Finance Forum of South Asian Awards, Pakistan Banking Awards – Dawn & IBP Pakistan, Employers Federation of Pakistan and CFA Association – Pakistan. The JCR-VIS Credit Rating Company Limited, an affiliate of Japan Credit Rating Agency, Japan has reaffirmed the Bank’s long-term entity rating of AA (Double A) and short-term rating at A1+ (A One Plus) with stable outlook. The rating indicates sound performance indicators of the Bank. Meezan Bank is the only Islamic bank with AA credit rating in the Islamic banking industry in Pakistan.
Islamabad(CliffNews): Khushhali Microfinance Bank (KMBL) has launched a new initiative called “Branch on Wheels” which is a fully equipped vehicle designed to deliver banking services. This initiative will cater to communities spread over remote areas with no or limited access to banking services. The pilot phase is being run under Value Chain Financing in collaboration with Market Development Facility (MDF) and Shakarganj Food Products Limited, and will offer Livestock loans and general banking facilities to farmers selling milk to Shakarganj industries. This is an extension to KMBL’s efforts towards increasing financial inclusion of marginalized communities. The pilot venture has been launched in Jhang and the bank plans to extend the service to other similar areas where KMBL branches do not exist. In his message, President KMBL, Ghalib Nishtar, said, “Khushhali Microfinance Bank is emphasizing on financial inclusion through a strategy which offers specialized financial products for our potential customers as well as focuses on innovative outreach plans. The benefits of financial inclusion are not only significant for individuals but also for economies. KMBL is creating a whole new world of possibilities for the financial services sector.” Speaking on the occasion, Head of Retail – KMBL, Amina Hassan, said, “There is a need to educate people from marginalized areas about the benefits of banking. Their needs might be small, they still save, borrow and manage their day-to-day expenses. However, without access to a bank, savings account, debit card, insurance, or line of credit, they rely on informal means of managing money with insufficient and unpredictable choices. KMBL aims to operate in all marginalized areas through its banking services.” “In the pilot phase, Branch on Wheels will offer a wide range of banking services including account opening, loan disbursement and collection, local remittances, health insurance and savings facilities”, she added. KMBL’s new service will offer exclusive loan products for livestock rearing and agriculture to farmers associated with Shakarganj Food Products Ltd. This will enable farmers to improve their income generation capabilities as well as eradicate their reliance on middle men to meet their routine financing needs. KMBL’s loan products are designed to enable farmers to invest in their business with the freedom to make beneficial business decisions and improve their income and living standard.
About Khushhali Microfinance Bank: Khushhali Microfinance Bank is a pioneer institution amidst Pakistan’s microfinance banking industry, having been created in 2000 to address the challenges of poverty and access to finance. Over the decades, the Bank has created a customer-focused expertise, backed by strong financial, operations and product management to invest in next generation financial and delivery management systems aimed at Pakistan’s rural and urban communities.