Akhuwat Clothes Bank


LAHORE (PR): Rowan Hamill-McMahon, Assistant Manager, Private Sector Development from Adam Smith International, visited Akhuwat, yesterday. He visited Akhuwat Clothes Bank and was greatly inspired by the idea of brotherhood and distribution of used clothes to the needy. He met with Dr. Amjad Saqib in his office and learnt the philosophy and operations of Akhuwat. Later on, Chaudhry Muhammad Shafiq, Minister for Industries, Commerce and Investment, Punjab presented him a souvenir on behalf of Akhuwat.

Al Meezan Investments opens DHA branch

LAHORE (PR): Al Meezan Investments extends its reach in Lahore - Opening of DHA Branch. Al Meezan Investment Management Limited (Al Meezan) has announced the opening of another branch in Lahore at DHA Phase II, on November 13, 2015 at 1st Floor, Meezan Bank T Block Branch, Plot No. 7, CCA-2, T Block, Phase II, DHA Lahore.

With this branch, Al Meezan Investments has now 11 branches in 7 major cities in Pakistan including Karachi, Lahore, Faisalabad, Islamabad, Peshawar, Multan and Abbottabad. The inauguration took place on November 13, 2015 by Dr. Imran Usmani, a renowned Shariah scholar and Shariah Advisor & Group Head - PDSC Meezan Bank. Mohammad Shoaib, CFA- Chief Executive of Al Meezan Investments, other officials and some valued investors were present at the occasion.

The new branch is a reflection of the commitment to provide Shariah compliant investment solutions and quality services to the investors and also of a strong business growth. These branches offer the investors a convenient way to transact and to meet with an experienced and friendly team of investment advisors to discuss financial goals at their convenience. Earlier this year, Al Meezan has opened 4 branches in Karachi, Multan and Abbottabad. Al Meezan also aims to further expand its branch network in other major cities across the country in near future.

Currently, Al Meezan Investments is the largest private sector asset management company in Pakistan with total assets under management over Rs 70.91 billion (as on October 31, 2015). We are also proud of having one of the largest investor base in the country. The company has twelve funds under its management with the latest addition of Meezan Gold Fund, launched in August 2015. Al Meezan has also launched Meezan Indus Hospital Support Plan- Pakistan’s first investment plan and the first of its kind CSR initiative by any asset management company in Pakistan to support philanthropic health care of a social welfare institute. Alongside, we are also the managers of Pakistan’s Largest Equity Fund-Meezan Islamic Fund and Pension Fund- Meezan Tahaffuz Pension Fund in the private sector, with assets under management of over Rs. 27.4 billon and Rs. 4.9 billion respectively (as on October 31, 2015).

Sony inaugurates first showroom at Clifton

KARACHI (PR): Sony announced the inauguration of its first store “Sony Wonderland”in the Dolmen Mall Clifton, Karachi. The new 800sqft store showcases the latest product range from Sony and provides potential buyers with the opportunity to experience products ahead of purchase.

Hiroshi Sakai, Head of G&A Sales Headquarters Division, Sony Middle East Marketing Company, says: “The retail environment has increasingly become more relevant with customers looking to touch, feel and experience products before making their buying decisions. Such experiential retail marketing demands that store environments are built not just to sell products, but also to recreate experiences giving customers the opportunity to connect with the brand and product.

Our new Sony Wonderland showcases every detail of our latest products and technologies, while allowing consumers to instantly step into our world of entertainment content such as movies, music, games. We are convinced this store will hold high appeal not just to tech aficionados with their exacting standards but also to Sony fans and lay consumers who will find technology demystified at this store.”

This new Sony store offers customers gaming, mobility, digital imaging, and home entertainment and audio products.

Just as HDTV revolutionized television viewing with its huge leap in picture quality, High Resolution Audio is doing the same for music. The Sony Wonderland is the first outlet in Karachi to feature High Resolution Audio products and the dedicated High Resolution Audio zone showcases Sony’s latest product offering in this segment, from premium headphones, portable music players to voice recorders and wireless speakers. The zone is targeted at audiophiles that truly value the pure sound quality delivered by hi-res audio products – whether inside the home or on-the-go.

Investment in power

sector invited

KARACHI (PR): In extension to the Government’s announcement of bridging supply demand gap by 2017, a dialogue to invite investment in the power sector was held between Mohammad Younus Dagha, Secretary, Water and Power and leading industrialists and investors of Pakistan hosted by Arif Habib Group at their offices in Karachi.

Dagha informed the attendees of the various initiatives the Government has taken to improve power production & distribution as well as steps to curb the spiraling circular debt. He also discussed the country’s fuel mix which he hopes will be reconstituted by 2020 shifting the country’s production capability on coal, a cheaper fuel, from the current dependence on expensive furnace oil.

The participants were also informed of the Government’s plans to privatise not only FESCO, IESCO and LESCO soon but also the plants that are being set up by the Government to supply the 3600MW in due course announced by Prime Minister Nawaz Sharif.

The participants engaged in conversation with Dagha on the Government’s long term as well as immediate solutions to eliminate power deficiency along with presenting their proposals on viable solutions keeping in view best practices in the region. The discussion also included energy security with emphasis on Thar Coal.

Bank Alfalah partners with Ria to offer Money Transfer

KARACHI (PR): Bank Alfalah and Ria Money Transfer (Ria), a global leader in international money transfer and payment services, have partnered to offer money transfer payout services in Pakistan.

This partnership allows Ria customers from all over the world to send money to their beneficiaries in Pakistan, with greater convenience for their family and friends who can now collect cash in minutes from more than 600 Bank Alfalah branches spanning over 200 cities across Pakistan. Bank Alfalah account holders can also receive funds directly to their bank account.

Atif Bajwa, President and CEO of Bank Alfalah said, “At Bank Alfalah, we find new and better ways to take our customers forward and we do this by understanding their evolving needs and enhancing our service capabilities to meet those needs. The foreign remittance market has been growing consistently over the years and Bank Alfalah’s partnership with Ria will allow us to grow our remittance outreach and enhance our service options.”

Juan Bianchi, President and CEO of Ria Money Transfer added, “Our agreement with Bank Alfalah allows Pakistanis living abroad to send money to their families and loved ones through thousands of Ria locations worldwide. We’re pleased to begin our partnership with Bank Alfalah to provide an alternative and affordable service which seeks to benefit Pakistani expatriates and their beneficiaries.”

Millions of Pakistanis live outside their country of birth with the majority residing in the Middle East. According to the World Bank, remittance inflows to Pakistan totalled $17.1 billion in 20141.