Bank Alfalah crosses Rs2tr in deposits

Bank Alfalah Limited recently achieved two significant milestones, as per a press release. It launched its 1,000th branchas well as surpassed Rs2tr in deposits. Bank Alfalah has been able to double its deposits from Rs1tr to Rs2tr within only two and a half years. The journey has been of over 26 years ago, starting in 1997, when investors from Abu Dhabi, led by the Chairman, His Excellency Sheikh Nahayan Mabarak Al Nahayan, acquired three branches of Habib Credit and Exchange Bank Limited in Karachi, Lahore, and Rawalpindi. With the vision to transform the banking landscape in Pakistan and improve access to finance, the institution was renamed ‘Bank Alfalah’, which has consistently prioritised innovation and customer-centricity for over two decades.

Developing a new SME index

The Bank of Punjab (BOP) and Reenergia-Ipsos entered into an agreement last week for the development of a “Pakistan SME Environment & Performance Index (BOP-PAK-SEPI)”. The index, the first of its kind, will track the environment and the performance of SMEs in Pakistan on a periodical basis. SEPI will incorporate the existing Business Enabling Environment Index for Pakistan (BEEIP) developed with financing support of USAID for Pakistan by Reenergia-Ipsos.

It shall be a dynamic tool providing the much-needed detailed insights into the performance of the SME sector as a whole along with supplying granular details on SME sub-segments and clusters, thus helping towards more informed policy-making, regulations and targeted financial interventions as well as capturing demographic cuts along the lines of women-led and export-oriented SMEs.

Pakistan Cables wins at FPCCI Awards

Pakistan Cables Loyalty Club mobile app won the Digital Transformation and Technology award at the 11th FPCCI Awards ceremony held in Islamabad, as per a press release. The app is the first of its kind, which allows Loyalty Club members a convenient way to submit and redeem points. This is the company’s third win in technological innovation and overall fourth win. Previously, Pakistan Cables won awards for the first e-commerce website and for launching AC Conductors in Pakistan.

Emirates 25th anniversary

Emirates commemorates its 25th anniversary of operations at Islamabad and Lahore airports, according to a press release. Since its inaugural flights to both cities in January 1999, Emirates has played a crucial role in connecting Islamabad and Lahore to the world via Dubai, while fostering economic growth and cultural exchange.

Over the past quarter of a century, Emirates has been a reliable partner facilitating seamless passenger and cargo movement and significantly contributed to the development of the country and region through tourism and trade.

Facilitating remittances

According to a press release, Habib Metro and ACE Money Transfer signed an agreement last week to facilitate safe and legal remittance services for overseas Pakistanis, especially in the UK, Europe, Canada, and Australia. The partnership aims to contribute to the country’s economy by offering reliable and convenient means for sending remittances to Pakistanis residing abroad.

OGDCL’s water filtration plant

The Oil and Gas Development Company Limited (OGDCL) inaugurated a Reverse Osmosis Plant in the village Gorsian of Tehsil Gujjar Khan, Rawalpindi district, to ensure the provision of clean drinking water for the local community, as per a press release. This is part of the company’s commitment to transforming the lives of communities residing in and around its operational areas.

New MD of SNGPL

The Sui Northern Gas Pipelines Limited Board of Directors has appointed Amer Tufail as Managing Director of SNGPL for a period of three years. Mr Tufail is a chartered accountant and has been part of Sui Northern Gas for the last 20 years, holding various key management positions.

Published in Dawn, The Business and Finance Weekly, January 8th, 2024