Community clinics

LAHORE (PR): “doctHERs Naya Jeevan Empowering Women Who Work” will be opening up tele-consultation clinics in 6 communities in collaboration with the USAID Ambassador fund. The project opening ceremony was held at doctHERs Naya Jeevan office recently. The target of doctHERs is to bring women doctors back into employment and giving them opportunities to practice work from home and are connected to the remote and underserved communities who generally lack healthcare facilities. This is going to be a 6-month project where one community clinic will open up in every month.

The cofounders of doctHERs include Asher Hassan, Dr Sara Khurram and Dr Iffat Zafar.

HabibMetro posts 72pc boost in profit

KARACHI (PR): Financial results for the year ended December 31, 2015 were approved by HabibMetro Bank’s shareholders in the annual general meeting held the other day. A 20% cash dividend was approved, in addition to the interim cash dividend of 20% in 2015, amounting to a total cash dividend of 40% for the year.

The bank posted a profit-before tax of Rs12.5 billion for the year 2015, registering a considerable year-on-year profitability boost of 71.5%. The noteworthy boost in profitability and performance led HabibMetro Bank to enhance its EPS by 55.5% to Rs 7.31. The Bank’s shareholders expressed appreciation of the results and lauded the efforts of HabibMetro Bank’s Board of Directors and the management.

Total assets augmented by 23.3% and amounted to Rs. 489.9 billion, while deposits exhibited an increase of 26% and exceeded Rs 400 billion. A significant net margin year-on-year increase of 28.6% was registered while return on equity and assets marked at 24.2% and 1.7%, cost-to-income ratio improved to 37.3% and fee income increased noticeably by 17.8%.

Mobicash initiative

LAHORE (PR): Mobicash, with the tradition of exploring new possibilities, has announced the launch of its Mobile Accounts to subscribers of other mobile networks. Through this first of its kind initiative in telecom sector, Mobicash looks to cater to the growing demand for financial services by the masses. It positions Mobicash at the forefront of cutting edge innovation in the financial space.

“The launch of Mobicash Mobile Account service for other mobile network subscribers utilizes our technical expertise and nationwide retail network to provide a ground-breaking solution to the ever increasing financial needs of our fellow countrymen. Staying true to our promise, we shall continue to work on developing similar services to address customer needs while strengthening our market position.” said Aniqa Afzal Sandhu, Head of Mobile Financial Services – Mobilink

The launch of this service is a big step by Mobicash in empowering the entire customer base, irrespective of their mobile connection, with complete financial liberation and taking interoperability to a whole new level. Last year alone, Mobicash launched two interoperable services in the shape of mobile load service for all mobilenetworks and Inter-Bank Funds Transfers.

This service will directly lead to accelerating thefinancial cover across the masses by removing the inherent barriers that exist in comparable services.

Meezan holds 20th AGM

KARACHI (PR): The 20th annual general meeting (AGM) of Meezan Bank Limited was held Wednesday at its head office in Karachi. The meeting was chaired by Mohammad Abdul Aleem, Director & Chairman, Audit Committee - Meezan Bank and attended by Irfan Siddiqui - President & CEO – Meezan Bank, Ariful Islam, Deputy CEO – Meezan Bank, Azfar Qarni, Representing Islamic Development Bank, Jeddah, Shabbir Hamza Khandwala, CFO – Meezan Bank and Tasnimul Haq Farooqui, Company Secretary – Meezan Bank as well as the Bank’s shareholders.

The proceedings of the meeting included adoption of the annual audited accounts for the year ended December 31, 2015 and approval of 12.5% final cash dividend in addition to 17.5% interim cash dividend that was paid by the Bank, bringing the total payout to Rs. 3 for the year.

The shareholders acknowledged the impressive performance of the Bank.

Standard Chartered Saadiq

KARACHI (PR): Standard Chartered Saadiq, the dedicated Islamic banking division within Standard Chartered Bank, has enhanced its offering for clients looking for Shariah-compliant banking products and services.

The enhanced offering aims to provide clients with innovative banking solutions to meet their needs while offering them the convenience that comes with Standard Chartered’s class leading digital platform.

The enhanced Saadiq product suite includes Home Finance with fixed pricing for up to three years so the clients can benefit from prevailing low market rates and the Saadiq WorldMiles Credit Card, a premium Shariah compliant card that offers travel related privileges and benefits.

In order to address the needs of its business banking clients, Saadiq has also launched a new product: Saadiq Business Term Finance,a Shariah compliant solution for clients to manage their business expenditures by availing financing against their existing property.

Standard Chartered endeavors to meet the needs of clients, and Shariah compliant banking is key offering of the Bank.

Bank AL Habib declares 35pc cash dividend

MULTAN (PR): The annual general meeting of Bank AL Habib Limited was held at its registered office in Multan the other day. The shareholders approved the annual accounts for the year ended December 31, 2015. The payment of 35% cash dividend (final) was also approved.

Deposits of the bank as on December 31, 2015 were Rs516.213 billion and profit after tax was Rs7.405 billion.

UC Browser selects SAF

LAHORE (PR): UCWeb, the maker behind UC Browser, Pakistan’s No 1 mobile browser with over 35% market share (according to StatCounter), has announced its first Corporate Social Responsibility initiative for Pakistan by making a donation to Shahid Afridi Foundation for their welfare work.