SMML appoints CEO

Sindh Modaraba Management Limited (SMML) announced the appointment of Abdul Rauf Chandio as its new Chief Executive Officer, effective July 10, 2024, according to a press release.

Mr Chandio holds a Master’s degree and brings over 32 years of diversified corporate banking experience to his new role at SMML. Prior to joining SMML, he worked with the Sindh Bank Limited, Summit Bank, National Development Finance Corporation and United Bank Limited.

Throughout his career, Mr Chandio has gained expertise in senior

management positions that have made him adept at creating strategic alliances with organisational leaders to effectively align and support key business initiatives in the financial sector.

SMML is confident that Mr Chandio’s leadership will drive the company towards success and innovation in the financial services industry.

FCCU scholarships

In the 2022-23 academic year, FCCU awarded over Rs338 million in scholarships to 2,317 students, as per a press release. In the subsequent academic year (2023-24), FCCU exceeded expectations by awarding Rs430m in scholarships across all levels — Intermediate, Undergraduate, and Postgraduate.

In line with its vision that education is a cornerstone for progress, Forman Christian College (a chartered university), has undertaken offering robust financial aid programmes to students across Pakistan for many years.

For many students, these scholarships not only unlock a world of academic exploration but also experiences that shape their lives and equip them for future success.

FCCU’s scholarship programme is fueled by a network of supporters — alumni, faculty, staff, foundations, philanthropists, and corporate partners.

Jazz’s landmark credit facility

Jazz has secured a private sector syndicated credit facility, totalling up to Rs75 billion, as per a press release. The banking consortium was led by The Bank of Punjab (BoP), and this 10-year financing arrangement will significantly support Jazz’s ongoing 4G network expansion and technological upgrades while supporting its new ServiceCo model.

The signing ceremony, held at a local hotel in Karachi, was attended by VEON Group CEO Kaan Terzioglu, CEO of Jazz Aamir Ibrahim, and the presidents of participating banks along with their representatives.

Mr Ibrahim remarked on the occasion, “This transaction reflects the financial community’s trust in Jazz’s market reputation and our leadership on the digital front. It is a crucial step toward ensuring that all Pakistanis, regardless of location, gender, or socioeconomic status, can harness the transformative power of the internet and digital services.”

Zafar Masud, President & CEO of The BoP, stated, “Leading this landmark transaction in the telecom sector exemplifies our strategic focus on digital transformation in Pakistan. Our partnership with Jazz underscores BoP’s dedication to advancing technological progress and supporting the growth of the telecom industry.”

Published in Dawn, The Business and Finance Weekly, July 22nd, 2024