“Banking industry has to play an effective role when it comes to provision of financial services to SMEs, agriculture and housing sectors, as growth in these sectors is essential to promote employment generation in Pakistan”, said Deputy Governor State Bank of Pakistan (SBP) Jameel Ahmad while addressing the 3rd Pakistan Banking Awards.
“Today’s event is a celebration of the banking sector’s achievements so far. Pakistan’s banking sector is a pivotal contributor in the promotion of the overall economic well being, socio-economic development and financial stability of the country. However, its performance and contribution remains contingent upon the developments in the rest of the economy,” he added.
He appreciated the efforts for 3rd Pakistan Banking Awards, organised by the Institute of Bankers Pakistan (IBP), in collaboration with Knowledge Partner A.F. Ferguson & Co (AFF), a member firm of the PwC Global Network.
“I commend and appreciate the time and efforts of these organizers and congratulate them for their collaboration to ensure that these Awards become a success at all levels,” he added.
It is pertinent to mention that three years ago, the Institute of Bankers Pakistan and A.F. Ferguson & Co. with their partner, introduced these awards to highlight excellence and innovation in Pakistan’s dynamic banking sector.
Syed Shabbar Zaidi, Senior Partner, A.F. Ferguson & Co. said “We believe that these awards provide an impetus for competition and a platform for encouraging differentiated efforts to be undertaken in the sector that plays a critical role in leading Pakistan to prosperity. Relevance of each award category has been re-evaluated and where necessary, re-conceptualized to establish unique benchmarks for recognition of superior performance. The ambition is not to simply declare the best on the basis of their financial performance; but non-financial merits as well”.
Farooq Shaikh, acting Chief Executive of the Institute of Bankers Pakistan, said, “The Pakistan Banking Awards recognize the best performers in various categories in the banking sector and the financial community eagerly awaits the results. Thus, it is important to celebrate their accomplishments and success. As one of the organizers of the event, The Institute of Bankers Pakistan (IBP) is honored to have been part of these Awards which have been held every year, this being the third such event.”
Awards were given in 8 categories. Best Bank award was won by Meezan Bank Ltd. Best Emerging Bank award was given to Dubai Islamic Bank. Best Customer Franchise won by Bank Alfalah Ltd which also won the Best Bank for Small/ Medium Businesses award. Best investment banking award was given to Habib Bank Ltd. Bank also won the Best Bank for Agriculture. Best Micro Finance Bank was awarded to Khushali Microfinance Bank and Bank the Unbanked award was given to Mobilink Microfinance Bank.
Chairman of the jury, Dr Ishrat Husain, while analyzing the current banking situation in Pakistan, said that banks in Pakistan are on a sound footing. Pakistani bankers are no less competent than any other banker across the world. However, banks in the country are not mobilising their deposits like those of the neighboring countries, which resulted in poor savings. A low-saving rate is the main hindrance in the way of higher investment that brings growth to the economy.
Earlier, one of the distinguished speakers on the occasion also added: “Today, I am extremely grateful to our distinguished jury members who have worked tirelessly this year under the leadership of jury chair Dr Ishrat Husain, in order to determine the winners of this year’s awards: Atif Bajwa, Atif R. Bukhari, Dr Farrokh Iqbal, Naved A Khan, Ehsan Ali Malik and Dr Zeelaf Munir. “I would also like to thank all the banks that participated at this year’s awards; it is due to their commitment to achieve excellence that the Pakistan Banking Awards have become a highly successful annual event.
