ee

Project On Islamic
Bank
Difference Between Islamic And Convential
Bank
This project is prepared students of m.com, be superior university
Lahore. This project has been compiled in an extremely professional
way. The objective of this project is to analyze the Islamic bank and
convential bank.

Project Compiled by:

Nabila Sattar 40

Falak Khan 16

Khadija Rani 15

Sonia Shehzadi 31

Date of Compilation:
4th October 2016

Report submitted to:

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 Dedication
To Almighty Allah who is always with us in our
loneliness and in all our difficulties.

And

To our Parents, Teachers & Well-wishers who

always pray for us to access in life from our Allah
who is the most Beneficent and the most Merciful.

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 ACKNOWLEDGEMENT

We thank to Allah Almighty for his guidance and

divine support that this project is finally complete as
a result of continuous and persistent effort.

PREFACE
First of all we would like to thank our instructor Sir
Ahmed Rasheed for providing us the opportunity to
look into various marketing strategies of Dalda
Foods pvt ltd. This project has given us knowledge
and practical experience, which will help us in
future.

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Contents of project:

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6
  Conventional Banking:
“Conventional Banking institutions are limited to the monetary affairs
and to the monetary markets with a purpose to gain monetary benefits in
rightly or wrongly.”

 Allied Bank Limited(Commercial banking company):

Allied Bank is a commercial bank in Pakistan. Allied Bank, with its registered Offices in Karachi
and Lahore, is one of the largest banks within the country with over 1000 branches, connected to
an online network. It was the first Muslim bank established in Pakistan before independence
(1942) with the name of Australasia Bank. It was named as Allied Bank of Pakistan from
Australasia Bank Limited in 1974.

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 Vision
“To become a dynamic and efficient bank providing integrated solutions
in order to be the first choice bank for the customers.”

Mission
 To provide value-added services to our customers.
 To provide high-tech innovative solutions to meet customers’
requirements.
 To create sustainable value through growth, efficiency and diversity for
all stakeholders.
 To provide a challenging work environment and reward dedicated team
members according to their abilities and performance.
 To play a proactive role in contributing towards the society.

Core Values
 Integrity
 Excellence in Service
 High Performance
 Innovation and Growth

 History Of Bank:
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The Bank started out in Lahore by the name Australasia Bank before independence in 1942; and
became Allied Bank of Pakistan in 1974.

In August 2004, because of capital reconstruction, the Bank’s ownership was transferred to a
consortium comprising Ibrahim Group; therefore, it was renamed as Allied Bank Limited in
2005.

ABL is the first Muslim Bank established on territory that later on became Pakistan. It was
established on December 3, 1942 as Australasia Bank at Lahore with capital of 0.12 million. At
that time the chairman was Kh. Bashir Baksh. ABL’s story was one of the dedication,
commitment to professionalism and adaptation to changing environmental changes.

The bank's history is divided into many phases. During 25 years of united Pakistan the bank
advanced forward in all areas of its activities. 1970’s were a difficult decade for all Banks of
Pakistan. In 1971 East Pakistan was separated and Australasia Bank lost its 50 branches and a lot
of capital as well. Nevertheless, the growth remained steady.

In 1974 all the Banks were nationalized including Australasia Bank. The small provincial Banks
were merged into Australasia Bank. On 1 July 1974 the new entity was renamed as ABL of
Pakistan Limited. Then it started its operations as Public sector financial institution.

 Different Phases of the Bank Are as Follows:

1. The Pre-Independence Period (1942-47):
Australasia Bank had the unique distinction of being closely identified with some of the
country’s most Prominent leaders of the freedom moment. Such as Mian Mumtaz Daultana
(Board of directors), Mian Iftikhar Hussain and Maulana Zafar Ali Khan.

The bank originally started its operation in the garage of Khawaja Bashir Baksh’s bungalow
(who was the chairman) near the Lahore Railway Station. But the success of Bank enforced the
directors to open its another branch in Anarkali on 1 March 1944. Kh. Bashir was first chief
executive. He was the person who was really working in its development. His sincerity of
purpose can be judged from his great moments.

Another branch was opened at Amaratsar in 1945. In June 1946, the bank earned the status of
scheduled bank. During 1946-47 many other branches were opened at Mcleod Road Lahore,
Jallandhar, Ludhiana, Agra and Delhi.

At independence the industrial and commercial sectors were underdeveloped but ABL
contributed a lot in the development of these sectors.

2. Australasia Bank in Private Sector (1947-74):

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It was the only full functional Muslim Bank on the land of Pakistan. On August 14, 1947 bank
was identified with Pakistan moment. Many of its Board of Directors were prominent Muslim
League leaders. Jallandhar and Ludhiana branches were attacked by rioters because of Muslim
staff appointed in these branches of bank. But when the Pakistan flags wee hoisted on the
branches then all the banks in India were closed down. With this, the bank lost a lot of capital
and its deposits and almost 6 branches. During 1948 new branches were opened at Karachi,
Rawalpindi, Peshawar, Sialkot, Sargodha, Jhang, Gujranwala and Kasur. But later on its
branches were spread to Multan and Quetta. At that time, the bank financed trade in cloth and
food grains and thus maintained consumer’s supplies during the riot effected early months of
1948. Australasia Bank made a profit of

50,000/= in 1947-48.

n August 1948, Australasia Bank became the first Pakistani Bank to successfully negotiate and
open L/C for a Sialkot-based importer of books. So it also made correspondence relations with
Midland (UK), Chase Manhattan (USA) and Lloyds (India).

During the treasury functions of Federal Govt. of Pakistan and it also acted as Banker to several
local Govt. Bodies and to the Punjab University during this period. Treasury functions were
taken by National Bank of Pakistan in 1949. In 1950-51, Chairman was replaced with his own
brother Kh. Sharif Baksh.

During 1955-56, Mr. Naseer A. Sh. became the Chairman of Board and close working
relationship was forged between the new Chairman and Managing Director. This partnership
proved in modernizing its operations and consolidating its financial position.

In 1963, Bank had 29 branches in various cities. And deposits were 89 million and advances
were 66 million. Bank was mainly concerned with general banking and trade financing
(including foreign exchange transactions). It helped a lot in development of small and medium-
sized business houses. These were Nishat, Crescent, Pak Cement, Haroon traders, Takht Bhai
Sugar, Insaf, Punjab soap, Pak fruit and Saboor Oil Mills etc.

In 1964, 13 new branches were opened including 3 in East Pakistan. In 1965, 17 new branches
were opened and over 83% of gross profit for the year was earmarked for development
expenditure in connection with opening of new branches.

In 1966 bank opened 26 new branches and doubled its reserved funds. For the first time in
history, its advances were increased to Rs. 160 million and deposits raised by almost 58%
exceeding Rs. 232 million mark. In 1966, Central Office was built in Karachi but Head Office
remaining at Shah Chiragh Building, Lahore.

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16 new branches were opened in 1967 and 20 in 1968. Respectively their funds were increased
gradually. 21 new branches were opened in 1971. But separation time the 51 branches were lost
by the bank which was a big loss.

3. Allied Bank: Public Sector Years (1974-91):

Under the Nationalization Act of 1974, 14 scheduled banks were taken over by the Government.
Australasia Bank’s Board of Directors was dissolved and the bank was renamed as Allied Bank
of Pakistan Limited. Sarhad Bank, Lahore Commercial Bank and Pakistan Bank Limited were
merged into Australasia Bank. At time of merge, ABL was second highest among all the banks
Nationalized in 1974.

Allied Bank’s first Executive Board was constituted of Mr. Iqbal A. Rizvi as President, Mr.
Ajmal Khalil as Joint President and Mr. Khadim Hussain Siddique as member. In 1974 Mr. I.D.
Junejo and Mr. Safdar Abbas Zaidi joined the Board later. 116 new branches were opened in
1974 and it started participation in commodity Operation program of Government.

In 1970’s Bank played an important part of agricultural area loans and other loans. In 1976 Mr.
Ajmal replaced Mr. Rizvi as Chief Executive and President. During 1974-77, 361 new branches
were opened and 230 of these were located in villages and small towns. It also opened its foreign
branch in London, near the Bank of England. In 1980 the Bank of England granted Allied Bank
recognition as a full fledge Bank under the U.K. Banking Act.

In 1981, President was changed. In 1984, again new president was come to know. He tries to
increase the international business. It also initiated a major counter program. In 1985, mainframe
computer was installed and effective management system was developed. During this period
profitability was increased. New President Mr. Maqbool introduced different schemes in 1987-
88. In 1989, new 13 branches were installed.

Over 1991, 745 branches were there in all over the Pakistan.

4. Privatization (1991-2004):
In November/ December 1990, the Government announced its commitments to the rapid
privatization of the Banking sector. Allied Bank’s management under the leadership of Mr.
Khalid Latif decided to react positively to this challenge. As a result of privatization in
September 1991, Allied Bank entered in a new phase of its history, as the world’s first bank to be
owned and managed by its employees.

Allied Bank’s capital and reserves were Rs.1.525 (Billion) and assets amounted to Rs. 87.536
(Billion) and deposits were Rs. 76.038(Billion). The Bank enjoyed an enviable position in the
financial sector of Pakistan and was recognized as one of the best amongst the major banks of

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the country. In August 2004 as a result of capital reconstruction, the Bank’s ownership was
transferred to a consortium comprising Ibrahim Leasing Limited and Ibrahim Group.

5. A new beginning (2005-to-date):

In May 2005 Ibrahim Leasing Limited was amalgamated by transfer to and vested in with and
into Allied Bank Limited. ILL shareholders were issued ABL shares in lieu of the ILL shares
held by them.

Today, with its existence of over 70 years, the Bank has built itself a foundation with a strong
equity, assets and deposit base. It offers universal banking services, while placing major
emphasis on retail banking. The Bank has a large network of 1050 online branches and over
1025 ATMs in Pakistan and offers various technology-based products and services to its diverse
clientele.

6. ABL IN 2007:
Allied bank’s progress was further acknowledged when the bank was included inthe top 1000
banks of the world. This goes to show the improvement in Alliedbank’s policy, procedures and
services during the past few years .

7. IN TODAY’S WORLD:
ABL is now one of the largest banks in Pakistan with a network of 757 in over 300 cities and
towns offering real time online banking. The bank leads the way byhaving the largest network of
450 ATM’s in more than 145 cities and townsacross Pakistan. Currently ABL possesses 932 nd
position in the world. Themanagement has a vision to move forward and to be one of the world’s
leadingbanks.

 PACRA:
Based on it’s impressive financial performance and significant improvement inareas of risk
management and corporate governance, the Pakistan Credit RatingAgency assigned the long
term credit rating of Allied Bank to AA (double A) andshort term rating to A1+ (A one plus).

AA:

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Very high credit quality. AA ratings denote a very low expectation of creditrisk. They indicate
very strong capacity for timely payment of financialcommitments. This capacity is not
significantly vulnerable to foreseeableevents.

A1+:
Obligations supported by the highest capacity for timely repayment.The rating reflects ABL’s
good performance prospects emanating from itsextensive outreach, sound capital structure and
an improving asset quality.While seeking to strengthen it’s infrastructure and control
environment, theMamagement intends to withstand in an increasingly competitive
environmentthrough achieving diversification in loan book and leveraging the extensiveoutreach
to expand its retail universe both for credit expansion and low costdeposit mobilization.

 Board of Directors:
• Tariq Mahmood - Chief Executive Officer

• Mohammad Naeem Mukhtar - Chairman / Non Executive Sponsor Director

• Sheikh Mukhtar Ahmad - Non Executive Sponsor Director

• Muhammad Waseem Mukhtar - Non Executive Sponsor Director

• Abdul Aziz Khan - Independent Director

• Mubashir A. Akhtar - Independent Director

• Pervaiz Iqbal Butt - Independent Director

• A. Akbar Sharifzada - Government Nominee Director

• Sheikh Jalees Ahmed - Executive Director

 SERVICES OFFERED BY ABL:

ABL provides many remarkable services to its customers which really serves it asits
competitive strategy. All the performance of a bank mainly depends on theservices provided by
it to its customers, better and higher the services greater the performance .All the new customers
and the already existing ones really getattracted by these core competencies of the ABL. The
most prominent serviceoffered by ABL, which differentiates it by other banks is the Online
transactionfacility provided by ABL. ABL is that one bank which has the largest network
allover the country to provide this facility; this service is provided in each and every smallest
branch of ABL. Other services include lockers, Home remittance,remittances, Hajj services,

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internet banking, and Utility bills. ABL uses theseservices to win its customers and their level of
satisfaction as its competitivestrategy.

 TOLL FREE NUMBER:

ABL, keeping in mind the queries and problems of its customers has set up a tollfree
number, to provide convenience to its customers , so that if they face anyproblem they can
simply contact ABL to get guidance and help. And this number costs nothing to its customers as
it’s a toll free number, simply its made for theconvenience of its customers.

 ONLINE SERVICES:
Why should we go to the bank if we have the online facility that is access to the bank
online.

 ONLINE BRANCH NETWORK:

Online banking facilities are available to customers maintaining accounts at all online
branches across the country. The following facilities are available.

 Cash deposit for immediate credit to remote branch.

 Remote cheque Encashment from any online branch.
 Instant funds Transfer between any 2 online branches.
 Remote balance inquiry and statement of accounts.
In addition to the above, account holders of all online branches can obtain
ABL’sAllied cash+ for use at ATM’s as well as at Debit card POS terminals.

 Products:
1)LOCKERS:
ABL has given its customers the facility of lockers, so that they can secure their valuable
things in the lockers, for example, gold, any important documents, or anything which a
person wants to keep very safely. ABL lockers are available inthree different sizes large,
medium, and small on a yearly fee. Locker holdersneed not have an account in the bank.
The customers get back the security feeswhen they close their locker facility by the bank.
2)SAFE DEPOSIT LOCKERS INSURANCE:
The bank has already informed its safe deposit locker holders through half yearlystatement of
accounts as on 30-06-07 that the bank has arranged insurance cover at its own
cost subject to the terms and conditions of the insurance policyfor the losses sustained

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 and discovered by the reasons of damage, destructionor loss by fire, burglary and locker
breaking.Maximum insurance ceiling provided for each category of lockers is mentioned
here under:

3)CHEQUE BOOKS:

Cheque books are issued after three days of opening of account, the first chequebook
issuance charges costs rupees 110, second and so on cheque books areissued on request of the
customer, customer has to submit a request form for issuance of another cheque book, and the
charges of these cheque books are215 rupees.There are two types of cheque books, the first one
is of 50 leaves and thesecond one is of 25 leaves.

4)ALLIED CASH + CARD:

Allied bank’s ATM Debit card, also referred to as Allied Cash+, can be used towithdraw
cash and may also be used as a debit card at merchant locations /service outlets having ORIX
POS terminals and displaying the ORIX logo.Allied Cash+ offers you the privilege of using over
2000 ATM’s all over Pakistanincluding our largest ATM network of over 450 ATM’s. Through
this card you canhave an experience of Cashless shopping at thousands of merchant
locations.Get instant cash and check balances at over 2000 ATM’s nationwide. Here iswhat they
have to offer:

• Round-the-clock cash withdrawals:

Now people can make withdrawals up to Rs: 25000 in a day (dependingupon your
deposit) at any ATM across Pakistan (the maximum transactionlimit is 25000).

• Balance inquiry and mini statement of account:

The ATM screen will reveal the balance in your account. A mini statementComprising
last 8 transactions can also be obtained from the ATM.

 Pin change:

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 You can now easily change your Pin at regular intervals for enhancedsecurity at all
ATM’s of Pakistan.

• Utility bill payment facility:

Pay your telephone, electricity and gas utility bills on any of out ATM’swithout having to
wait in long queues outside your branch.

• Funds transfer facility:

You have the power to transfer money from your account to any accountof ABL
anywhere in Pakistan.

 1 LINK NETWORK:
In continuation of ALL TIME BANKING SERVICES, with the country wide networkof
735 branches, ABL has also enhanced ATM services by joining the 1-LINKSWITCH which has
following member banks.

 ABN AMRO BANK

 AL BARAKA ISLAMIC BANK
 ALLIED BANK LIMITED
 ASKARI COMMERCIAL BANK LIMITED
 ATLAS BANK LIMITED
 BANK AL HABIB LIMITED
 BANK ALFALAH LIMITED
 BANKISLAMI PAKISTAN LIMITED
 CRESENT COMMERCIAL BANK LIMITED
 DUBAI ISLAMIC BANK PAKISTAN LIMITED
 EMIRATES GLOBAL ISLAMIC BANK LIMITED
 FAYSAL BANK LIMITED
 FIRST DAWOOD ISLAMIC BANK LIMITED
 HABIB BANK LIMITED
 KASB BANK LIMITED
 MEEZAN BANK LIMITED
 NATIONAL BANK OF PAKISTAN
 NIB BANK LIMITED
 PICIC COMMERCIAL BANK LIMITED
 SONERI BANK LIMITED
 STANDARD CHARTERED BANK PAKISTAN LIMITED
 UNION BANK LIMITED
 UNITED BANK LIMITED

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  MYBANK LIMITED

TAMEER MICRO FINANCE BANK LIMITEDThe card holders of ABL are thus able
to access member banks ATM’s for balance inquiry and can withdrawal simultaneously vice
versa.The card holder’s member banks can access ABL’s ATM machines.Every ATM which is
connected with 1-LINK SWITCH has a logo which indicatesthat 1-LINK SWITCH member can
access the ATM.

 Remittances:
Allied bank can transfer funds to the remotest part of the country for payment or credit
to the customer himself or a third party through telegram/telefax/telex for payment or credit on
the same or next day. Telegraphic transfers can also bemade abroad in foreign currency.Carrying
cash to the strange alien location can prove to be risky as a singleincident can render one without
monitory backup of any sort. Hence traveler’scheques are introduced by banks in order to protect
against any contingency.

 TELEGRAPHICAL TRANSFER:
Banks are offering various types of products related to funds transfer in Pakistan,assuring the
fastest delivery of funds around the globe, through telex, swift andother electronic media.ABL
with its largest network spread all over the country is sharing quite asizeable funds transfer
business in the domestic market.Bank has recently moved to optimize the use of electronic media
to handle fundstransfer with speed. Even the shift over to Swift is at hand and a network hasbeen
established by Central office.

a) DEMAND DRAFT:
A draft is one of the most popular banking instrument in the trade circles to settlebusiness deals
and transferring funds from one place to another. ABL has takenradical steps for a speedy
insurance/payment of Drafts through automation andintroduction of a more simplified system
based procedure.

b) PAY ORDERS:
Pay Order is a bank instrument issued by a bank in Pak rupees at the request of a customer to
transact payment to a named payee through banking channel.Generally payments against such
cheques (pay orders) are restricted to Payeesaccount and as such are required to be enrooted
through a bank account locally.

c) TRAVELLERS CHEQUES:

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Rupee traveler’s cheques are one of the most convenient products launched byABL, which has
an excellent market response.ABRTC’s is only to be issued by authorized branches of the
ABL.With the application of government levies, nominal commission is also chargedon issuance
of Traveler cheques.Traveler cheques shall be valid until encashed unlike a Negotiable
instrumentwhich is valid for 6 months.

d) VISA CREDIT CARD:

ABL as part of it’s commitment to improving customer service has launched itsnew ABL VISA
CREDIT CARD; it will be in use from the month of august.All existing ABL MasterCard credit
cards will be blocked or inactivated in augustpreventing any future transactions on those cards.
To assist customers in thisprocess, ABL will be contacting its cardholders directly and through
personalvisits from duly authorized representatives for the purposes of obtaining consentand
other related documentation including copies of CNIC. Any balancesremaining on ABL
MasterCard will after compliance with formalities, betransferred to the new Allied visa credit
card to avoid any inconvenience to theexisting customers.

e) UTILITY BILLS:
All branches of ABL collect utility bills of electricity, gas and telephones. For convenience of
the customers, utility bills are collected by the branches duringbanking hours and also in the
evening-banking on all working days. Bills can bepaid through cash or cheques. Consumers may
drop bills with crossed chequesinto a drop box available at the branches under CHEQUE DROP
IN system.Utility bill payment facility – Pay your telephone, electricity and gas utility bills
onany of the ATM’s of ABL without having to wait in long queues outside your branch.

 THE TYPES OF ACCOUNTS AND PACKAGES OFFEREDBY ABL:

The different types of accounts offered by ABL are:

 PLS saving account (profit and loss saving

account):
 Current account:
 ABA account (Allied business account):
 BBA account (Bacis banking account):
 Foreign currency account
 E_Saver account

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  Allied Savers Account
 Munafa package
 Mahana Amadni Package
 Allied Bachat Scheme package

 ` CURRENT ACCOUNT:
ABL offers current account facility for individuals as well as institutions andcommercial
customers.Free online transactions, DD/PO/TT for depositors maintaining average
monthlybalance of Rs:25000 (M) and above during the previous month.

 PLS SAVING DEPOSIT:

ABL offers PLS savings account facility to it’s customers with the followingattractive
features.

 Attractive return up to 1% per annumFree online transaction, DD, TT, PO for

depositors maintaining average monthlybalance of Rs: 25000(M) and above during the previous
month.

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  ALLIED BUSINESS ACCOUNT:
Allied bank offers a banking experience beyond expectations. Allied businessaccount is a
non-profit current account with countless benefits and services. If you are a business man, trader
or an individual Allied business account is anideal proposition for you.

• Minimum average balance Rs:10000/- monthly

• Transaction limit No limit

• Eligibility All individuals and institutions

 ADDITIONAL BENEFITS:
 24 hours helpline service
 Free internet banking facility
 SMS transaction alerts
 ATM / DEBIT card for cash withdrawals through any ATM and debittransactions
at various retail outlets
 ALLIED BASIC BANKING ACCOUNT:
 In order to provide basic banking facilities to low income people in
Pakistan,Allied bank has introduced ALLIED BASIC BANKING ACCOUNT
(ABBA).

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  This account can be opened with an initial deposit of Rs: 1000/-.
 This account is a non-remunerative account with no minimum
balancerequirement.
 This account will be closed automatically if the balance remains
ZEROcontinuously for one year.
 The statement of the account will be issued on yearly basis.
 There are no service charges on the said account for ma
ximum 2withdrawals and 2 deposits during a calendar m
o n t h . A d d i t i o n a l transactions will be subject to a service charge as per
Bank’s schedule of charges for every withdrawal/deposit.
 Unlimited free of charge withdrawals from ATM.

 FOREIGN CURRENCY DEPOSITS:

Allied bank offers the facility for opening Current, savings and
Term depositaccounts. These accounts can be opened in US Dollar,
Pound Sterling, Euro,and Japanese Yen at designated branches.
 ALLIED MUNAFA ACCOUNT (AMA):
Allied Munafa Account is a profit bearing checking account with the payment
of profit on a monthly basis. The estimated rate of profit is given below.

 SALIENT FEATURES:
 The applicable profit rate would be based on slabs of amounts
maintainedo n a v e r a g e m o n t h l y b a s i s a n d t h e p r o f i t c r e d i t e d i n t h e a c c u
n t o n monthly basis.
 Individuals, firms, companies, schools, hospitals, charitable organizationsand non-
government organizations etc are free to open their account inthis scheme.
 BEHTAR MUNAFA ACCOUNT (BMA):
Behtar munafa account is a profit bearing checking account with the payment of profit on a monthly
basis. The estimated rate of profit is given below.

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  SALIENT FEATURES:
 The applicable profit rate would be based on slab of amountsmaintained on average
monthly basis and the profit credited in theaccount on monthly basis.
 Individuals, firms, companies , schools, hospitals, charitableorganizations etc are free to
open their account in this scheme.
 BEHTAR MUNAFA TERM DEPOSIT (BMTD):
Allied bank offers following rates in the Behtar munafa term deposit.

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  MAHANA AMADNI PACKAGE (MAP):
Mahana amadni package is a unique product with attractive returns. It providesan opportunity for
a regular monthly income with a flexibility of placement for 12,24 and 36 months.

 Minimum amount Rs: 100,000/- (with multiples of Rs: 10,000)

 Profit Payable on monthly basis
 Projected profit rates Up to @ 10.30% per annum
 Eligibility All individuals and instituitions
 Period 1,2 and 3 years

 ALLIED BACHAT SCHEME (ABS):

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Alled bachat scheme is a PLS term deposit scheme based deposit schemewhereby you can
double your investment in just 7.5 years.

 Maturity period 7.5 year

 Minimum deposit Rs: 50,000/- with multiples of Rs: 10,000/-
 Expected rate of profit The deposit amount will be doubled in 7.5 years.
 Eligibility All individuals and institutions

 PREMATURE ENCASHMENT:
No profit shall be paid from the date of issue, if en-cashed before completion of 6months.
In case encashment take place after 6 months, In case encashmenttakes place after 6 months, the
profit is to be paid for completed half year on theprescribed rates and 6% for the completed
months as per the projected rates.

 ALLIED E_SAVERS ACCOUNTS (ESA):

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 Allied E-savers account is a unique saving plan where you can earn returns ashigh as
7.5% with the flexibility of 4 withdrawals a month.

 ADDITIONAL BENEFITS:
• 24 hours phone banking service

• Free internet banking facility

• SMS transaction alerts

• ATM/Debit card for cash withdrawals through any ATM including our largest networks
of ATM’s across Pakistan and for debit transactions atvarious retail outlets

• First free cheque book – A/C payee only

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