TC September-October 2021 Issue

TRADE CHRONICLE
Banking & Insurance
National Bank of Pakistan signs MoU
with Pakistan Microfinance Network
A Memorandum of Understanding
(MOU) has been signed between the
National Bank of Pakistan (NBP) and
Pakistan Microfinance Network (PMN)
for collaboration between the two
organizations to facilitate the growth of
the microfinance industry in Pakistan.
NBP is the largest commercial bank as
far as lending to the microfinance sector
is concerned. This MOU will enable it
to strengthen its linkage with this sector
further and discover new business
opportunities.
NBP will be
facilitating
PMN members
for its accountr
e l a t e d
services as
well as the
provision of
credit facilities.
On the other hand, PMN will boost
linkage between NBP and its members
to promote financial services and share
data & research, client awareness &
financial literacy, and information of
mutual interest.
PMN is a national association for retail
players in the microfinance industry
and was established by industry
practitioners in 1997. Over the years,
the nature and level of activities grew.
Currently, the network strength stands
at 44 microfinance providers, including
Microfinance Banks (regulated by
Inauguration of NBP Learning
& Development Centre
NBP inaugurated a state-of-art,
modern and fully technologically
equipped Learning & Development
Center at FTC Karachi,
September 20, 2021
to provide latest and
industry driven learning
and development
opportunities to its
employees. The center
aims to align staff goals
and performance with the
Banks strategy, objective
and needs.
SBP) and Non-Bank
Microfinance Companies
(regulated by SECP).
NBP is Pakistan’s largest public-sector
commercial bank and provides a diverse
range of products and services through
a vast footprint of over 1,500 branches
throughout the country. The bank is
taking initiatives for increasing market
penetration and growth in the priority
sectors of the economy. The Inclusive
Development Group (IDG) within
NBP is leading these initiatives and is
engaged in focusing on the financial
inclusion of underserved industries
that have
significant
business
potential.
National
Bank (NBP)
is the largest
commercial
as far as
lending to the Microfinance sector
is concerned to further strengthen
its relations with the sector and to
discover new opportunities with this
sector; NBP signed a Memorandum
of Understanding (MoU) with Pakistan
Microfinance Network (PMN). From
NBP, Mr. Rehmat Ali Hasnie (SEVP/
Group Chief, IDG) and from PMN, Mr.
Syed Mohsin Ahmed (CEO) signed this
MoU. Mr. Ahmer Liaquat (Divisional
Head-MFSID NBP) and Mr. Ali
Basharat (Operations Manage, PMN)
were also present at the occasion.
The center was inaugurated by Mr.
Arif Usmani, President and CEO
National Bank of Pakistan along
with Group Chiefs. Speaking at the
occasion, Mr. Usmani said that NBP
is transforming its human capital to be
NBP board: Sarwar made
independent director
The Federal Government has appointed
Sarwar Iqbal as Independent Director
of National Bank of Pakistan (NBP)
Board in place of ex-officio member
Finance Division.
The Finance Division briefed the
Cabinet on September 21, 2021 that
in terms of Section 11(1)(b) of Bank’s
(Nationalization) Act, 1974, National
Bank of Pakistan (NBP)’s Board should
consist of not less than 5 and not more
than 7 members (excluding Chairman
and President).
In terms of Section 11(3)(a) of the Act
the Chairman, the President and other
members of the Board of a Bank were
appointed by the Federal Government
in consultation with State Bank of
Pakistan (SBP) for a term of three
years.
The present composition of the Board
of Directors of NBP was as follows
(i) Zubyr Soomro/ Chairman ;(ii) Arif
Usmani/ President/ CEO;(iii) Arif Jooma
/Director;(iv) Tawfiq Asghar Hussain/
Director;(v) Sadaffe Abid/ Director;(vi)
Imam Bakhsh Baloch/ Director;(vii)
Ahsan Ali Chughtai/ Director and ;(viii)
Farid Malik, CFA/ Private Director.
a competitive resource by equipping
them with the desired skill set in line
with modern banking environment and
future challenges.
Ms. Asma Shaikh, SEVP & Group
Chief Human Resource
Management Group
said that NBP through
this L&D Center shall
support all endeavors
to bring professionalism
in the management of
people through training
and development and
shall nurture the learning
environment amidst a
culture of trust.
TRADE CHRONICLE - Sep - Oct - 2021 - Page # 29