07-12-16

Misha Saeed
BB-13-10
BBA 5TH
(Morning)

[MONEY AND
BANKING]
Submitted to: Sir Atif Rafeeq

1.

History

On September 15, 2001, under the supervision of the State Bank of Pakistan
(SBP), the institution then known as the Prudential Bank was acquired by the
management and associates of the Saudi Pak Industrial and Agricultural
Investment Company (Pvt) Ltd (SAPICO).
On March 31, 2008, a Consortium comprising of IFC, Bank Muscat, Nomura
International and Sinthos Capital led by senior bankers Mr. Shaukat Tarin and
Mr. Sadeq Sayeed acquired 86.55% stake in Silkbank for around $213 million
or $0.47 per share (PKR 29.3 equivalent per share). Under the new
leadership, the Bank will continue to focus on SME & Consumer financing
resulting in efforts of increased profitability.

Vision

Benchmark of Excellence in premier banking.

Mission

To be the leader in premier banking trusted by customers for accessibility,

service & innovation; be an employer of choice creating value for all
stakeholder.

Values

Silk bank prides itself in being a conscientious and responsible corporate

citizen with a commitment to the development of Pakistan. At Silk bank our
employees are encouraged to give back to society and we have made
concerted efforts towards the development of healthcare, education and
constructive, character building sports activities in the underdeveloped
segments of our country.

Core values

Customer Focus
Integrity
Teamwork
Creativity
Meritocracy
Humility

Ownership of Bank:
Mr. Azmat Tarin

President & CEO

Mr. Talha Saeed

Executive Director

Mr. Goharulayn Afzal

Chief Operating Officer

Mr. Jamil A. Khan

Group Head Regulatory Affairs

Mr. Kasim F. Khan

Director, Special Assets & Projects

Mr. M. Saqib Pal

Chief Risk Officer

Mr. Javed Yousuf Edhi

Group Head Operations & Technology

Mr. Jawad Majid Khan

Group Head Islamic Banking

Mr. Kamran Bashir

Group Head SAMG & REAM

Mr. Shahram Raza

Bakhtiari

Group Head Retail & Consumer Banking

Mr. Khurram Adil Khan

Group Head Marketing

Mr. Uzman Naveed

Chaudhary

Company Secretary/Group Head Compliance,

ICD & Legal

Mr. Mansoor Mukhtar

Head SME Relationship

Ms. Sanam Kohati Faiz

Head Human Resource

Mr. Ali Kashif Rizvi

Head Treasury & Financial Institutions

Mr. Imran Aslam

Head Wealth Management

Mr. Junaed Riaz

Chaudhary

Head Consumer Risk

Mr. Shuja Alvi

Head Investment Banking

Mr. Khurram Khan

Chief Financial Officer/p>

Mr. Wajih Zaidi

Head Internal Audit

Mr. Aman Kotak

Head Customer Satisfaction & Quality

Gourmet group buys Silk Bank

Islamabad (Pakdestiny.com) Pakistans one of top bakers and confectioners
Gourmet has bought the Silk Bank.
The Gourmet which has also launched its restaurants and furniture outlets
has made its entry into banking like that of Malik Riaz, owner of Bahria Town,
who recently has bough Burj Bank, primarily to manage the finance of their
businesses.
Gourmet group that is known for its good food and also an exploiter of its
employees does not give a day off in a week to its employees and also give
them minimum wage.
Besides there reports of tax evasion on its part and the FBR seem to be
playing soft. The government needs to look into its affairs and at least
protect the rights of its workers.

2.

Types of accounts:

Current accounts
o
o
o
o
o
o

All in-one account

Basic banking account
Business value account
Online express
Salary premium account
Asaan account

Foreign currency accounts

Savings accounts
o Munafa rozana
o PLS Saving
o Super saver

Term deposits
o Salana munafa
o Silkbank mahana munafa
o Special notice deposit account

o Other term deposits

Insurance
o
o
o
o
o
o
o
o

Mehfooz har pal

Roshan mustakbil
Silk health plan
Sunehra kal
Silk health line
Silk education takaful
Silk secure takaful
Silk retirement plan

Remittances

3.

o
o
o
o

Become a silk agent

Silk fauree transfer (PRI)
Western union
Ombudsman information

Requirements of accounts:

1.Basic Banking Account

Opening an account was never so easy! You can now open your
account with only Rs.1,000 and guess what? There are no minimum
balance requirements.
Your Basic Banking Account allows you to conduct two debit
transactions and two credit transactions, free of charge, per month.
Bank will charge Rs.100 per transaction over and above the allowed
free transactions.

2.All-In One Account

Silkbank All-in-One Account provides you with the ultimate security and
protection,
amazing banking facilities and much more convenience all absolutely
free.
As a Silkbank All-in-One Account Holder, you will be provided with a host
of free protection & transactional benefits. The various protection benefits
offered include the following:
ATM & Over-the-Counter Cash Snatching
Mobile Snatching
Snatching of Vital Documents
Burglary of Home Contents
Auto-Insurance rate as low as 2.5%

3. Asaan Account

Silkbank Asaan Account provides you with a banking solution that is

easy for everyone. Open your Asaan Account with Silkbank and
experience banking that meets your everyday financial needs.

You can now open your Silkbank Asaan Account, a Current Account,
with just your CNIC, an initial deposit of Rs. 100 and by filling out a
one-page form. You can open one Asaan Account (single or joint) on
your CNIC. Isnt that simple!

Not only that, there is no minimum balance requirement and as a

customer you are also entitled to a host of banking facilities including
Silkbank Visa Debit Card Facility which provides exclusive discounts at
over 100 partner outlets nationwide. You also receive a free first
Chequebook, free SilkMobile, free E-statements and much more.

4.Business Value Account

Silkbank Business Value Account is a unique business current account

that offers protection & transactional benefits specifically designed for
catering to your daily business requirements.
Now introducing for the first time in Pakistan, Silkbank Business Value
Account which provides you with free comprehensive business
inventory coverage up to Rs.1 Crore, arranged through Saudi Pak
Insurance Company Limited. Not only that, you will also receive free
protection against cash snatching for cash withdrawals from ATMs or
Silkbank branches.
As a customer you are also entitled to a host of free banking facilities
including cheque books, pay orders, intercity transactions and your
very own Silkbank VISA Debit Card which provides exclusive discounts
at over 100 partner outlets nationwide, in addition to free statements,
SMS Alerts and Silkbank-Direct Internet Banking.

5.Salary Premium Account

Silkbanks Salary Premium Account is an exceptional current account that
offers additional perks with your salary. As a Silkbank Salary Premium
Account Holder, you can avail a host of financial convenience, protection and
lifestyle benefits.
Hassle Free Salary Processing
Cash Snatching Coverage
Discounted Auto Insurance at 2.5%!

4. Methods of international trade payment:

Popular methods of payment used in international trade include:

Cash with order (CWO):

The buyers pay cash when he places an order.

Cash on delivery (COD):

The buyer pays cash when the goods are delivered.

Documentary credit (L/C):

A Letter of credit (L/C) is used; gives the seller two guarantees that the
payment will be made by the buyer one guarantee from the
buyer's bank and another from the seller's bank.

Bills for collection (B/E or D/C):

A Bill of Exchange (B/E) is used or documentary collection (D/C) is a
transaction whereby the exporter entrusts the collection of the payment for a
sale to its bank (remitting bank), which sends the documents that its buyer
needs to the importers bank (collecting bank), with instructions to release
the documents to the buyer for payment.

Open account:
This method can be used by business partners who trust each other; the two
partners need to have their accounts with the banks that are correspondent
banks.
Methods of payment: Cash in Advance (Prepayment) Documentary
Collections Letters of Credit Open Account Combining Methods of Payment
Summary Resources Activities Assessment.

5. Investment Banking:
Silkbank has an experienced and professional Investment Banking team that
has been a prominent player in the market, providing a complete array of
Debt and Equity advisory and arrangement services while maintaining a vast
distribution network of potential investors. The team is actively involved in
raising short and long term debt for Corporates from capital markets and also

holds the distinction of being market leaders in the arrangement of short

term unsecured funds (i.e., Commercial Papers). In addition to Debt and
Equity advisory, the team also provides other advisory services such as
restructurings, mergers & acquisitions and buy / sell-side advisory. A list of
the services provided are given below:
Capital Market Advisory

Long Term Debt Listed and Privately Placed TFCs

Short Term Debt Commercial Papers

Arrangement services
Placement of debt / equity issues to banks & non-bank participants.

Other Advisory Services

Debt Syndications
Private Equity
Transactions
Mergers & Acquisitions
Restructurings
Buy / Sell-side Advisory