1.

Introduction

Summit Bank Ltd is one of the fastest growing commercial banks of

Pakistan, which, in a very short span of time, has expanded its network
across the country and built an infrastructure based on state of the art “Risk
Management Framework” as well as “IT platform.” Also targeting to be a
universal bank in terms of providing products and services in all key
segments of banking i.e. Corporate and Investment Banking, Trade Finance,
Commercial Mid Market / SMEs, and Consumer Banking, it commenced its
operations in August 2006.

The Pakistan operations of Rupali Bank Limited were acquired by Arif Habib
Securities Limited under the Scheme of Amalgamation approved by the State
Bank of Pakistan. The name of Rupali Bank Ltd was subsequently changed to
Arif Habib Rupali Bank Ltd and then finally to Arif Habib Bank Ltd in October
2007. On 31st March 2010, Suroor Investments Ltd, a company incorporated
in Mauritius, acquired 59.41% stake in Arif Habib Bank Ltd from Arif Habib
Securities Ltd, and on 18th August 2010, Arif Habib Bank Ltd was rebranded
as Summit Bank Ltd.

Suroor Investments Ltd, also entered into share purchase agreements (SPAs)
with majority shareholders of MyBank Ltd and Atlas Bank Ltd, who after
completion of the transactions have merged in Summit Bank Ltd expanding
the Bank’s geographical outreach with a network of 187 Real – Time Online
branches across the country. In line with the management’s vision of making
this bank a front runner amongst its peer banks, this merger has brought
synergies and access to a wider range of markets and customers.

By acquiring one of the best IT platforms of the world, offering web and SMS
based banking to the customers besides providing superior MIS to the

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Management; the Bank is committed to be recognized as a preferred supplier
of financial services to the markets it serves. To achieve these goals, the
Bank will strengthen itself in the financial service industry, leverage optimal
mix of technology to attain operating cost efficiencies, achieve product and
service differentiation, while at the same time growing its footprint through
further expansion of its branch network across the country, because we are
committed to you.

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1.1 Vision and Mission
Our Vision
To be the preferred provider of financial products & services to the markets.

Our Mission

 To be a financial institution based on Trust, Integrity, and Good Governance.

 To deliver financial solutions to our customers.

 To provide equal opportunities & professional working environment to our

employees.

 To provide fair return to our shareholders on their investment.

 To serve the community at large.

 To discharge corporate social responsibility.

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1.2 Credit Rating

Rating Type: JCR – VIS

Subordinate
Rating Short Medium to
d Debt Outlook
Agency Term Long Term
Instrument
JCR-VIS A-2 A- A- (SO) Stable

4
1.3 Board of Directors

Mr. Nasser Abdullah Hussain Lootah

Chairman

Mr. Husain Lawai

President and CEO

Mr. Nasim Beg

Director

Mr. Asadullah Khawaja

Director

Mr. Farid Uddin

Director

Mr. Shehryar Faruque

Director

Mr. Muhammad Zahir Esmail

Director

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1.4 Management Committee

Husain Lawai
President and CEO
Muhammad Zahir Esmail
Chief Operating Officer
Syed Mohammad Anwar Lutfullah
Group Head IT & Operations, Consumer Banking, Home Remittance and
Corporate Communication
Ahsan Raza Durrani
Group Head Corporate & Investment Banking and Capital Market
Gulrays Khan
Group Head Human Resource & Administration and Compliance & Control
Faisal Shaikha
Head of Treasury & Financial Institution Division
Imran Ahmed
Group Head Enterprise Risk Management and Credit Administration
Aziz Morris
Head of Internal Audit
Muhammad Shakir Abbasi
Head of Islamic Banking
Muhammad Najeeb Khan
Shariah Advisor – Islamic Banking
Syed Imran Hashmi
Acting Chief Financial Officer &
Company Secretary
Habib-ur-Rehman
Group Head Special Asset Management & Fraud Management

6
1.5 Generate & Validate IBAN

International Bank Account Number (IBAN) is an international standard for

identifying bank accounts. The main purpose of IBAN is to facilitate
automatic processing of money transfers as well as improve the speed and
accuracy of your payment transactions.
The Central Bank regulation for transactional use of IBAN will be effective as
of 1st July 2013. All banks in Pakistan are required to accept and process
payment instructions with IBAN.
The State Bank of Pakistan (SBP) has decided to introduce and implement
IBAN – International Bank Account Number in Pakistan.
IBAN is an international standard for structuring account numbers. It is
globally used in transaction processing, especially in cross border
remittances.
IBAN will be operationally used both for international and domestic financial
transactions in Pakistan from the 1st of July 2013.
In compliance with Central Bank Circular ‘PSD Cir Let No 2 of 2012 IBAN
Implementation Guidelines’, Summit Bank has successfully applied the
International Bank Account Number (IBAN) to all Summit Bank accounts.

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2. Islamic Banking

Islamic banking (Arabic: ‫ )المصرفية اللسليمية‬is banking or banking activity that is

consistent with the principles of sharia and its practical application through
the development of Islamic economics. As such, a more correct term for
‘Islamic banking’ is ‘Sharia compliant finance’. Sharia prohibits the fixed or
floating payment or acceptance of specific interest or fees (known as riba, or
usury) for loans of money. Investing in businesses that provide goods or
services considered contrary to Islamic principles is also haraam (“sinful and
prohibited”). Although these principles have been applied in varying degrees
by historical Islamic economies due to lack of Islamic practice, only in the
late 20th century were a number of Islamic banks formed to apply these
principles to private or semi-private commercial institutions within the
Muslim community.

2.1 Islamic Banking Products

2.1.1 Business Account
Businesses tend to enjoy flexibility while remaining cost effective. Business
Account (BA) offers flexibility of a conventional current account including
unlimited transactions option and offers value added services in a Shariah
complaint manner. Additionally customers are entitled to a share of
distributable profit as per assigned weightages.

Salient Features:
Business Account (BA) will be opened in Pakistani Rupees.
The account can be opened with PKR 1,000/-.
The profit payable will be calculated on daily average balance and payment
of profit will be on monthly basis.
The share of profit in this account type will be minimal keeping in view that
its main purpose is to provide low cost banking to the depositor under
exemption allowed by SBP (IBD Circular No 3 of 2012).
Zakat & other levies will be applicable as per governing laws
BA holder will be eligible for 100% waiver of Schedule of Charges for the
following services*
No limit on number of Transactions
Online Transaction Facility
Visa Debit Card Issuance
Cheque Book Issuance
Issuance of Pay Order
Cancellation of Pay Order
SMS Alerts
Duplicate Pay Order Issuance

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Duplicate Account Statement
Services listed above will be offered on the basis of maintaining a daily
average balance of at least Rupees Twenty Five Thousand only (Rs 25,000/-).
Number of free transactions allowed will be determined by the bank from
time to time, and on case to case basis, and will be timely communicated to
the account holder.

Contract & Mechanism:

BA will be accepted on the basis of Mudarabah(Aform of partnership). The
Bank will be the Mudarib and the Investment Account Holders (IAHs) /
Depositors will provide funds for investment to earn Halal profit / benefit,
identified as Rab-ul-Maal. The funds so deposited will be invested in an
Investment Pool which will be managed by the Bank in capacity as Mudarib
(Managing Partner).
The IAH is eligible to share Profit from the respective investment pool
according to his / her deposit in a predetermined ratio adjusted by
weightages assigned to each category of remunerative deposits. This is
calculated on calendar month basis. The Profit or Loss declared by the Bank,
as stipulated herein, shall be considered as final and binding on all the
account holders. The Bank in this capacity as Mudarib will also be entitled to
a share of the distributable profit.
The Bank may also choose to invest its own Funds. In this case the Bank will
share profit in addition to its share as Mudarib. Accordingly, in case of loss in
the respective pool, it (Loss) will be shared between the IAHs and the Bank
as per ratio of their investments in that pool.

Who Can Participate?

Account may be opened in the name of persons and bodies mentioned below
upon being properly introduced in a manner approved by the Bank (provided
that their source of income is not received from any prohibited source as per
the Shariah principles):

Individuals
Sole Proprietorship concerns
Partnership Firms
Limited Companies (Private & Public)
Trust

Here is What You Receive For Free*

Outward Clearing Charges for Cheques returned unpaid.
Internet Banking Facility.
E-Statement of Accounts.
Value Added Services.
Special Value Added Services.

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Loads of Other Services.

10
2.1.2 Daily Savings Account

Daily Savings Account (DSA) is an investment-cum-transactional account.

The product is designed for those customers who have high day-end
balances on a particular day while low on others and wish to get rewarded
for their high days. The money can be deposited and withdrawn at will with
or without notice viz a viz through Cheque / ATM/ Debit Card / Electronic
means (Net Banking etc.) or through written instructions.

Salient Features:

Daily Savings Account (DSA) will be opened in Pakistani Rupees.

The account can be opened with PKR 1,000/-.
Minimum Balance requirement is PKR 1,000/-.
Profit will be calculated on day-end balances(Daily Product basis) and
payment will be made on monthly basis.
Zakat & other Levies will be applicable as per governing laws.

Contract & Mechanism:

DSA is an “Investment for profit” account governed under the rules of
Mudarabah (A form of Partnership) with a vision to provide a bouquet of
valuable services along with return on the investment. Profit payout will be
made monthly.

DSA will be accepted on the basis of Mudarabah. The Bank will be the
Mudarib and the Investment Account Holders (IAHs) / Depositors will provide
funds for investment to earn Halal profit / benefit, identified as Rab-ul-Maal.
The funds so deposited will be invested in an Investment Pool which will be
managed by the Bank in capacity as Mudarib (Managing Partner).
The IAH is eligible to share Profit from the respective investment pool
according to his / her deposit in a predetermined ratio adjusted by
weightages assigned to each category of remunerative deposits. This is
calculated on calendar month basis.The Profit or Loss declared by the Bank,
as stipulated herein, shall be considered as final and binding on all the
account holders.The Bank in this capacity as Mudarib will also be entitled to
a share of the distributable profit.

The Bank may also choose to invest its own Funds. In this case the Bank will
share profit in addition to its share as Mudarib.Accordingly, in case of loss in
the respective pool, it (Loss) will be shared between the IAHs and the Bank
as per ratio of their investments in that pool.

Who Can Participate?

Account may be opened in the name of persons and bodies mentioned below
upon being properly introduced in a manner prescribed by the Bank

11
(provided that their source of income is not received from any prohibited
source as per the Shariah principles):
Individuals
Sole Proprietorship concerns
Partnership Firms
Limited Companies (Private & Public)
Clubs, Societies and Association
Foreign Missions / Diplomats
Agents Accounts
Trust
NGO / NPO’S / Charities
Branch Office / Liaison Office of Foreign Companies
Executors and Administrators
Government / Provincial / Local Government and Armed Forces (Including
Allied Accounts)

Here is What You Further Receive for FREE*

Fund Transfer within Summit Bank Ltd via ATM, Web & Branch Network.
Issuance of Pay Order.
Outward Clearing Charges for Cheques returned unpaid.
Issuance of Islamic Visa Debit Card for 1st Year.
Internet Banking Facility.
E-Statement of Accounts.
Value Added Services.
Special Value Added Services.
Loads of Other Services.

2.1.3 Bachat Savings Account

Bachat Savings Account (BSA) is an investment-cum-transactional account.

The money can be deposited and withdrawn at will with or without notice
either by Cheque / ATM / Debit Card / Electronic means (Net Banking etc.) or
through written instructions.

Salient Features:
Bachat Savings Account (BSA) will be opened in Pakistani Rupees.
The account can be opened with PKR 1,000/-.
Minimum Balance requirement is PKR 1,000/-.
Profit will be calculated on monthly average balance and payment will be Bi-
annually.
Zakat & other Levies will be applicable as per governing laws.

12
Contract & Mechanism:
BSA is an “investment for profit” account governed under the rules of
Mudarabah (A form of Partnership) with a vision to provide a bouquet of
valuable services along with return on the investment. Profit payout will be
made Bi-annually.

BSA will be accepted on the basis of Mudarabah. The Bank will be the
Mudarib and the Investment Account Holders (IAHs) / Depositors will provide
funds for investment to earn Halal profit / benefit, identified as Rab-ul-Maal.
The funds so deposited will be invested in an Investment Pool which will be
managed by the Bank in capacity as Mudarib (Managing Partner).
The IAH is eligible to share Profit from the respective investment pool
according to his / her deposit in a predetermined ratio adjusted by
weightages assigned to each category of remunerative deposits. This is
calculated on calendar month basis. The Profit or Loss declared by the Bank,
as stipulated herein, shall be considered as final and binding on all the
account holders. The Bank in this capacity as Mudarib will also be entitled to
a share of the distributable profit.

The Bank may also choose to invest its own Funds. In this case the Bank will
share profit in addition to its share as Mudarib. Accordingly, in case of loss in
the respective pool, it (Loss) will be shared between the IAHs and the Bank
as per ratio of their investments in that pool.

Who Can Participate?

Account may be opened in the name of persons and bodies mentioned below
upon being properly introduced in a manner prescribed by the Bank
(provided that their source of income is not received from any prohibited
source as per the Shariah principles):
Individuals
Sole Proprietorship concerns
Partnership Firms
Limited Companies (Private & Public)
Clubs, Societies and Association
Foreign Missions / Diplomats
Agents Accounts
Trust
NGO / NPO’S / Charities
Branch Office / Liaison Office of Foreign Companies
Executors and Administrators
Government / Provincial / Local Government and Armed Forces (Including
Allied Accounts)

Here is What You Further Receive for FREE*

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Fund Transfer within Summit Bank Ltd via ATM, Web & Branch Network.
Issuance of Pay Order
Outward Clearing Charges for Cheques returned unpaid.
Issuance of Islamic Visa Debit Card for 1st Year.
Internet Banking Facility.
E-Statement of Accounts.
Value Added Services.
Special Value Added Services.
Loads of Other Services.
2.1.4 Islamic Certificates

Islamic Savings Certificate (ISC) is a range of “Investment for profit” Halal

products with fixed maturities. Investments can be made with wide range
options from 1 month to 5 years term with various profit payout frequencies.
Profit payout may be made:
At the time of maturity (Profit at Maturity), or
Periodically i.e.Monthly, Quarterly, Biannually or Annually.

Salient Features:
Islamic Savings Certificate (ISC) will be opened in Pakistani Rupees.
Investment can be made with wide range of options from 1 month to 5 years.
Minimum Investment required for Maturity Option is PKR 10,000/- and for
Periodic Profit Payment Option is PKR 25,000/-.
Pre-mature encashment option is available
Zakat and other Levies will be applicable as per governing Laws

Contract & Mechanism:

ISC will be accepted on the basis of Mudarabah. The Bank will be the Mudarib
and the Investment Account Holders (IAHs) / Depositors will provide funds for
investment to earn Halal profit / benefit, identified as Rab-ul-Maal. The funds
so deposited will be invested in an Investment Pool which will be managed
by the Bank in capacity as Mudarib (Managing Partner).
The IAH is eligible to share Profit from the respective investment pool
according to his / her deposit in a predetermined ratio adjusted by
weightages assigned to each category of remunerative deposits. This is
calculated on calendar month basis. The Profit or Loss declared by the Bank,
as stipulated herein, shall be considered as final and binding on all the
account holders. The Bank in this capacity as Mudarib will also be entitled to
a share of the distributable profit.
The Bank may also choose to invest its own Funds. In this case the Bank will
share profit in addition to its share as Mudarib. Accordingly, in case of loss in
the respective pool, it (Loss) will be shared between the IAHs and the Bank
as per ratio of their investments in that pool.

14
Who Can Participate?
ISCmay be opened in the name of persons and bodies mentioned below upon
being properly introduced in a manner prescribed by the Bank (provided that
their source of income is not received from any prohibited source as per the
Shariah principles):
Individuals
Sole Proprietorship concerns
Partnership Firms
Limited Companies (Private & Public)
Clubs, Societies and Association
Foreign Missions / Diplomats
Agents Accounts
Trust
NGO / NPO’S / Charities
Branch Office / Liaison Office of Foreign Companies
Executors and Administrators
Government / Provincial / Local Government and Armed Forces (Including
Allied Accounts)

Types of ISC:

The following ISC types may be offered from time to time at the discretion of
the bank:

Profit Payment Half

Monthly Quarterly Annually Maturity
Frequency yearly
Minimum Investment
25,000 25,000 25,000 25,000 10,000
(PKR)
Tenors
1 month √
2 months √
3 months √
6 months √
1 year √ √ √ √
3 years √ √ √ √ √
5 years √ √ √ √ √

Here is What You Further Receive for FREE*

Fund Transfer within Summit Bank Ltd via ATM, Web & Branch Network.

15
Issuance of Pay Order.
Outward Clearing Charges for Cheques returned unpaid.
Issuance of Islamic Visa Debit Card for 1st Year.
Internet Banking Facility.
E-Statement of Accounts.
Loads of Other Services.

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3. Deposit Products

v
3.1 Summit Classic Current Account

Reward yourself with enhanced privileges through Summit Classic Current

Account. Exclusively designed to meet your diverse financial needs, this
classic account offers you benefits that are beyond your imagination.
Bank account …exceeding expectations

Key Features:
One account with a bundle of product
Minimum monthly average balance as low as Rs. 50,000/-
Up to 3 Visa Debit Cards free.
Special Retirement Or Investment Insurance Plan at only Rs. 2000/month
(bancassurance)
Loan Facility (secured) with special rates

Standard Features
Collection Cheque (Local), Retained Mail, Stop Payment, Cheque book
Issuance (25 leaves), Debit Card Issuance, Debit Card Annual Fee Waiver,
Statement Issuance, Balance Certificate, Lockers (small – waiver of rent
only), Standing Instruction Fee, Inward Remittances –Local & Foreign,
Collection of Local & Foreign Currency Cheques, Statement of Accounts,
Returned Cheques, Online Statements, Online Banking, Mobile Banking,
Personal /Accidental Insurance, Cash Withdrawal Insurance.

*Minimum deposit required is Rs. 50,000/- & subject to Insurer’s Terms &
Conditions

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3.2 Current Account

Summit Bank Current Account is a convenient and secure way of holding

your money in local and foreign currencies.

The key features of this account are as follows:

Non-interest bearing
Starter cheque book issued when the account is opened
Unlimited free-of-cost transaction facility
No deduction of Zakat
Choice of periodic statements (monthly, quarterly, half-yearly and annual) by
post
Access to account statement anytime through Internet Banking facility
Account transaction information through SMS
Free issuance of VISA debit card
Cash withdrawal through large ATM network

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3.3 Saving Account

3.3.1 PLS Saving Account

Summit Bank’s Savings Account is the most convenient way to manage your
savings in local and foreign currencies. Our Savings Account has been
designed to provide you with easy access to your money, as well as a higher
rate of profit.

Key features of these accounts are as follows:

Starter cheque book is issued when the account is opened
No penalty on minimum balance not being maintained
Choice of periodic statements (on monthly, quarterly, half-yearly and annual
basis) by post.
Access to your account statement anytime through our Internet Banking and
e-Statement facilities
Account transaction information through SMS
Free issuance of a VISA debit card
Easy cash withdrawal through a vast network of ATMs

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3.3.2 Term Deposits

Term Deposits are offered by Summit Bank to the following types of

customers:

Individuals (single or joint)

Minors (to be operated by the guardian)
Charitable institutions
Provident fund & other funds of benevolent nature
Local bodies
Autonomous corporations
Limited companies
Firms, associations, educational institutions, financial and other institutions
who intend to retain their deposits for a fixed period in order to earn a higher
rate of profit.

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3.3.3 Mahana Amdan

Deposit Limits

Rs. 50,000 up-to Rs.10 million

Rate of Profit
Expected Rate of
Term Deposits
Profit
3 Months 6.75%
6 Months 7.00%
1 Year 7.25%
2 Year 7.50%
3 Year 8.00%

Notes:
These are not rack rates.
All Terms & Conditions must be according to the scheme.
These rates are not applicable for any amount which is less than Rs.
500,000.
In case of any deposit of more than Rs. 5 million, the Treasury front office
may be contacted for improvement of rates.
In case of premature encashment, the depositors will be paid at the rack rate
of last completed tenor on the broken period.
These rates cannot be offered to Financial Institutions, e.g. Banks, DFIs,
Investment Banks, Leasing Companies and Mutual Funds.

Eligibility:
All individuals and institutions are eligible for this account.

Period of Deposit
6 months, 1 year, 2 years & 3 Years

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Special Benefits
Free VISA debit card
Monthly profit will be credited in the depositor’s account and can be
withdrawn through cheque or ATM, free of charge
Deposit will be rolled over on maturity for the same period at the rates
prevailing on the date of maturity, unless otherwise requested by the
customer.
Free Internet Banking
Free issuance of pay orders and demand drafts
Free SMS updates for the first three months (applicable from the date of
account opening)

Conditions
Profit is subject to Zakat, withholding tax and other taxes are imposed from
time to time, unless exempted.
Regular declared TDR profit rates [for the last completed period of deposit]
will be paid on premature encashment.

3.3.4 Daily Product Account

Take advantage of our Daily Product Account, which is a unique account

where your money begins earning interest as soon as you make a deposit.
Interest is calculated on your daily closing balance and credited to your
account monthly, which means you make money from the day of initial
deposit to the day that you withdraw your funds. It’s a simple way to start
growing your savings right away. The minimum amount required to open this
account is Rs. 25,000. It is an account that raises your own money(deposit)
on daily basis.

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3.3.5 Hamara Summit Family Savings Account

Fostering the bond that exists with its customers, and to better serve their
financial needs, Summit Bank has come up with ‘Summit Family Savings
Account’ – a unique savings account offering superior returns and a
host of free services.

As a trendsetter, Summit Bank brings a solution to assure parents of their

commitment to their children. With more values, more expertise and more
solutions, Summit Bank innovates a savings account that serves the entire
family. Get your entire family to bank with Summit Bank, and enjoy vast
privileges and

unique benefits that go hand in hand with Summit Innovations.

Here’s how it Works

Grouped accounts for the family

Initial Investment Requirement-Rs.5,000/-
Minimum Balance Requirement-Rs.5,000/-
Attractive return of 6%
Additional 2% as bonus feature*
Up to Five free Visa debit cards
Minors can make purchases and withdraw cash at ATMs via the Visa Debit
Card

Here’s what you get

SMS alerts
Mobile Balance Recharge
Visa Debit Cards
Internet Banking
ATM Cash Withdrawal Insurance
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Personal Accidental Insurance
Utility Bill Payment through SMS/ATMs/Internet and/or Contact Centre ATM
Intra-Bank Fund Transfer
Lockers

Eligibility
The customer ID of the primary account holder will be the family ID. The
Primary account holder CANNOT be a minor. Minimum 2 and maximum 5
members can be grouped under a single Family Savings Account

3.3.6 Summit Advantage Account

Offering beyond expectations, Summit Advantage meets all your

requirements of satisfactory banking, convenient financing needs and more.

Summit Advantage Account is a unique combination of exceptional returns

on your investment coupled with a facility to avail up to 70% financing; and
that’s not all, it comes with an added advantage of no additional mark
up!
This unique offer is for those who want to conserve their savings but still
want to avail a convenient financing facility to manage periodic cash flow
needs. Offering superior returns on your valuable savings and charging no
extra mark up on your loan financing –with Summit Advantage, you cannot
aspire for more. Select Summit Advantage to experience an ultimate in
banking innovation.
Key Features:
Maximum Loan up to 70% of the deposit with no additional
markup (8.50% p.a.)
Exceptional returns up to 8.5% p.a.
Monthly profit payout
Term: 1 year

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Minimum investment of Rs 100,000/- with a maximum limit of up to Rs
50,000,000
Access to a range of value added facilities
Free Facilities:
Visa Debit Card
Internet Banking

3.3.7 Young Bee Account

The young bee account is a magical world of saving with many adventures
waiting for you! We are here to make your life adventurous and fun! Now you
can save money to dine and shop with your friends by using your Young Bee
Debit Card.

Enter The Hive

It is simple to become a part of our hive. Visit any branch of Summit Bank
and ask the Bank Officer to give you a Young Bee Account opening form. Fill
out the form completely and hand it over to the Bank Officer. You are now
ready to enter the magical world!

Adventures of Young Bee

Welcome Gift

When you open your Young Bee Account, you will be presented with a
Welcome Pack. The Welcome Pack comes with your Young Bee Debit Card,
Young Bee User Guide and a Stationary Pouch.

Saving is Exciting

Saving is fun and it makes us responsible. Saving money not only teaches us
how to spend wisely but it also has its adventures. Saving money allows us
to buy bigger things we normally can’t afford to buy, like a video game, a
bicycle or even dining at McDonalds.

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Young Bee Debit Card

The Young Bee Debit Card is just like cash but much more convenient. It is
quick, safe and works everywhere. You can charge your Card anywhere you
wish. Shop with your Debit Card instead of Cash, feel safe and enjoy Young
Bee adventures.

Fun at McDonalds

Now there will be more fun at McDonalds with your Young Bee Debit Card.
Shop with your card and earn McDonalds Meal Points. Use your points at
McDonalds and enjoy amazing deals.
Apart from Meal Points, you will have special DEALS at McDonalds for Young
Bee Debit Card Holders.

26
4. Call Deposit Receipt

Call Deposit Receipt is a form of non-profitable guarantee certificate issued

to Government & Semi-Government Institutions, Corporations and Semi-
Autonomous Bodies as a security deposit in favor of any tender. The
beneficiary can at any time deposit the CDR in their account. Summit Bank
facilitates all customers to avail this service without having an account with
the bank.*

5. Rupee Traveller Cheques

Summit Bank’s Rupee Traveller Cheques enable you to travel with complete
peace of mind!

Summit Bank’s Rupee Traveller Cheques provide a safe and secure solution
that acts as an alternative to the carrying of cash for travel and everyday
use. These Cheques are currently available in the Rs. 10,000 denomination

27
and can be issued to individual PKR account holders of Summit Bank. You can
encash your Traveller Cheques through any Summit Bank branch across
Pakistan.

6. Corporate and Investment Banking

Our mission is to serve all corporate requirements and ensure full

satisfaction through product innovation, personalized banking, and top notch
service. Our Corporate & Investment Banking Group focuses on attracting
and serving Blue Chip Customers. Our forte is providing exemplary customer
service using the “Single Window” concept and “Product Superiority”. Our
Corporate Banking Group comprises a seasoned team of Relationship
Managers (RMs) to meet the demanding service standards of Corporatations
& Businesses enabling us to provide timely and effective financial solutions
for our customers to meet the growing challenges of a global economy. Our
RMs have the expertise you need to create tailored financial solutions
catering to the specific requirements of your business. Whether its
establishing a new venture or expanding an existing business, our team
understands the banking needs of businesses, and works closely with them
to help them realize their goals.

Some of our Specialist areas in Corporate Banking include:

 Running Finance, Short Term & Long Term Finance, Financing against
Imported Merchandise (FIM), Cash finance and Export Re-finance.

 Pre and Post Shipment Export Financing (PKR and USD based)

 Import Financing (PKR and USD Based).

 Trade Services including Letter of Credit (Sight & usance), Letter of

Guarantee and Standby Letter of Credit, etc.

28
  All other services with respect to the requirement of business of
borrower are provided here.

Our specialist area in Investment Banking include:

 Project & Structured Finance

 Syndications & Debt Capital Market

 Equity & Advisory

 Bonds

o Structured Finance

o Leveraged Buyouts

o Privatization

o Equity Underwriting & Placement

o Mergers

o Corporate Restructuring

o Syndicated Loans

o Project Finance

o Private Equity

o Equity De-Listing

o Acquisitions

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6.1 FI and Cash Management

Financial Institutions Services

FI & Cash Management is the support function of Corporate / Investment

Banking & Treasury. In FI, we maintain relationships with all Financial
Institutions around the globe. Our main functions are:

 Treasury Lines initiation

 Nostro / Vostro Accounts relationships

 Trade support in routing L/Cs

 Country / Bank Lines initiation and management

 Inland Banking Arrangements

Cash Management Services

In recent years, Cash Management has gained importance to become a focal

point of attention for Corporate. The ongoing economic instability in Pakistan
has also heightened the need for greater risk management and controls.
Summit Bank Ltd. (SMBL) has accepted the challenge to provide its
customers with Cash Management solution which allows them to better
predict and manage their cash flows, thereby also allowing them to focus on
their core business.

SMBL is endeavouring to bring new and improved products to its customers

that provide them with optimal solutions in the most effective and efficient
manner.SMBL’s focus is to serve its corporate clients by pursuing efficiency
with growth and profitability. Out primary focus is on efficient management
of customers’cash flows along with the financial products designed to fit
every client’s specific needs.

30
Cash Management

Cash management is the Department where we not only provide the total
reconciliation of the customer’s transaction but also provide the support in
any level required to maintain or increase the liquidity in our Bank. Cash
management is the process of Pay–In and Pay–Out from the account.

6.2 Commercial and SME Banking

Our Commercial & SME Division targets Medium Sized Companies with a
turnover of at least PKR 25 – 50 million. We have a centralized set up and
have the ability and the resources to meet the needs of your business with
our pro-active, responsive and experienced Relationship Managers who are
committed to understanding your business. If you have a small or medium-
sized business, SMBL can assist you with the right mix of banking services
that will help you manage and grow your business. Our experts will facilitate
you in the varied financial situations that you come across.

We offer financing for the following:

 Working Capital Financing

 Procurement of Inventory

 Receivables financing

 Procurement of Machinery

 Expansion of production facilities

 BMR

 Import / Exports

31
 Guarantees

32
6.3 Trade Finance

Trade Finance being the prime focus of our Management, we offer wide
variety of Funded and Non-Funded Trade related facilities such as:

1- Imports: Letter of Credits, Documentary Collection, Registration of Import

Contracts, Advance Payments, Finance against Imported Materials, Finance
against Trust Receipt, Finance against FE-25.

2- Exports: Negotiation, Discounting, Documentary Collection, Finance

against Foreign Bills, Finance against FE-25, Export Refinance Facilities
through State Bank of Pakistan etc.

3-Bank Guarantees: All kinds of Local as well as Foreign Guarantees.

4- Local Trade: Inland Letter of Credits, Back to Back Letter of Credits, Local
Bill Discounting etc.

We enjoy strong banking relationships with major local and international

banks and as a result, our customer base vis-a-vis Trade Finance is growing
by the day.

Summit Bank has a strategic presence in virtually all major cities of Pakistan,
for instance, Karachi, Lahore, Faisalabad, Sialkot, Islamabad, Rawalpindi,
Peshawar, Hyderabad.

The blend of Summit Bank’s specially designed Trade products with a team of
trade staff having ample experience & expertise in their specialized areas of
trade finance, add great value to the customers’ interest in terms of
improved trade cycles, enhanced management of cash flow and greater
flexibility.

33
7 Consumer Banking

Understanding trends in consumer product markets, and the financial needs

of consumers, SMBL is now designing Consumer Banking services through a
dedicated division. SMBL aims to aggressively grow its existing product
portfolio by introducing products in phases. We provide services for deposits,
consumer loans, credit cards, insurance and asset management through a
customer-focused and competitive approach while closely following
technological developments.With a clearly defined market segment and a
solid strategic intent supported by a modern and reliable infrastructure,
Summit Bank is ready to reach new heights in Consumer Banking services.

7.1 Home Finance

Buying your first home is a major milestone in your life and one of the
biggest financial decisions you will ever make. Helpful information combined
with the right advice can make a world of difference and assist you in making
the ultimate decision. Get your own shelter and deal comfortable with your
house hold chores.

Summit Bank has a comprehensive range of home loans schemes with

solutions for everyone. The value and flexibility that Summit Bank Home
Finance offers, complemented by exceptionally personalized service, is what

34
makes it the right choice for you. At Summit Bank, we believe in simplicity &
convenience.

Summit Bank Home Finance can be sought to fulfill any of the following
needs:

 Buy-a-Home & Build-a-Home

 Home Renovation

 Purchase of Land & Construction

 Home Debt Consolidation (BTF)

The salient features of this plan are appended here-under:

Minimum: Rs.300,000/-
Loan Amount
Maximum: Rs.50,000,000/-

Minimum Collateral
Rs.1,000,000/-
Value
Minimum: 03 years

Maximum: 20 years

*Proposed financing period of loan

must
Loan Tenor
mature 5 years prior to the expiry
of

lease

Salaried – (K+4)

Self Employed Professional –

(K+4.5)
Mark-up Rate*
Self Employed Businessman –
(K+5)

Type of Mortgage Equitable or Registered Mortgage

35
 (as per lawyer’s advise)

Bank should have a first charge on

the

mortgaged property through

Equitable
Mortgage Charge
Plus Token / 100% Registered
Mortgage

(as per lawyer’s advise).

Property & Life Insurance will be

mandatory
Property & Life
Insurance from Bank’s authorized insurance
company

*K=06 Months Average KIBOR

7.2 Personal Finance

Worried about how to meet all the expenses coming up at once?

If you’re short of funds for your daughter’s wedding, a major surgical

operation, outstanding credit card payments, house refurnishing, a new
laptop, children’s education abroad or anything else, you can now breathe a
sigh of relief. Personal Finance is the right solution to bring all your needs and
luxuries within reach.

Summit Bank takes pride in announcing the launch of another unique and
valuable addition to the privileges and benefits it offers – an innovative,

36
convenient and secure way to meet your personal and family financial needs
through Personal Finance.

The salient features of this plan are appended here-under:

Minimum: Rs.25,000/-Maximum:
Loan Amount
Rs.1,000,000/-
Minimum: 1 yearMaximum: 5
Loan Tenor
years
Type of Loan Term Loan
Type of Facility Un-Secured
Type of Markup Fixed During Loan Term
Premature Payment
Available
Facility
Loan Enhancement Available (History / Income
Facility Based)
Loan Top-up Facility Available

7.3 Bancassurance

“Bancassurance” is the distribution of insurance products by banks, through

their own distribution channels.

We are proud to offer Bancassurance products to our valued clients through

affiliations with leading Insurance companies. The unique products are
designed to address a variety of our customer’s needs.

Our clients can choose from the following products, which the insurance
companies are offering:

37
7.3.1 MetLife Alico

o The Graduate Plan

o The Wedding Planner

o Golden Age Plan

o Goals

The following Optional Rider(s) can be attached with these products to

enhance the coverage level on payment of additional premium*:

Accident Care Benefit (ACB): It would provide an additional lump sum

in case of death or disability due to accident. This rider would also
provide cover in case of dismemberment due to accident.

Income Benefit Rider (IBR): It would pay a monthly income benefit in

the event of permanent & total disability of the insured.

Family Protection Rider (FPR): It would pay all due basic premiums,
from the date of permanent and total disability of the insured to the
end of the FPR term.

Level Term Insurance Rider: It would pay an additional lump sum in

case of death of the insured due to accident or sickness.

*The riders may terminate before policy maturity date depending upon
the
term available

7.3.2 Jubilee Life Ltd.

o Suhana Kal

o Sunehra Aghaz

The following Optional Rider(s) can be attached with these products to

enhance the coverage level on payment of additional premium*:

Accidental Death Benefit : To provide extra protection against

accidental death, an additional amount will be paid under this benefit if
death occurs due to an accident.

38
Waiver of Premium: If the Life Insured suffers an illness or disability and
is not able to follow his/her own occupation or any other occupation
suited by knowledge, training or education for at least six months ,then
the premium from the next premium due date will be paid until
recovery.

Critical Illness: Advances the benefit payable on death in case the

insured is diagnosed as having one of the specified critical illnesses.

Hospitalization Cash Rider: A daily benefit is paid if the insured is

confined to a hospital. The benefit is doubled in case of hospitalization
due to any of the specified critical illnesses. In case of confinement to
ICU, additional 50% benefit will be payable. Spouse and children can
also be covered under this benefit.

*The riders may terminate before policy maturity date depending upon
the
term available

39
8. Electronic Banking
Summit Bank is one of the leading banks in Pakistan in terms of electronic
banking. We offer our customers a diverse range of electronic services and
convenient banking options through various channels, such as ATMs, mobile
phones and Internet.

Our Mobile Banking allows customers to avail a variety of banking services of

pure SMS-based technology, including mobile balance recharge and utility
bill payments, as well as account information.

Internet Banking is another channel on which we offer extensive banking

services. Customers can view account information, pay bills, transfer funds,
and conduct many other transactions through their account(s). Hence
providing a fast, secure and convenient way to banking.

Summit Bank is a member of 1LINK Guarantee Limited.

40
8.1 Mobile Banking

In keeping up with rapidly changing technology, Summit Bank offers you

banking through your mobile. You can easily keep track of all your account
transactions through your mobile phone, and retrieve account information
whenever you want, just by typing and sending a simple SMS.

Transaction Alerts

Now wherever you go, your bank goes with you. Summit Bank gives you the
following transaction alerts on your mobile:

 Day End Balance

 All Transactions (Debit & Credit)

You can also check your transactions and account balance. Customers who
are already subscribed for SMS alerts are automatically eligible for this
service.

Just go to your write message option and type:

BI for Balance Inquiry

MS for Mini Statement

LTC for Last Three Credit transactions

LTD for Last Three Debit transactions

And send SMS to 24365

41
8.2 Internet Banking

Summit Bank offers a secure, fast and convenient Internet Banking channel
with a range of services. It will change the way you bank today.

Internet Banking ensures that you have convenient access to your account
and banking services, no matter where you are.

Services offered through Internet Banking:

 Bill Payments

 Credit Card Bill Payments

 Mobile Balance Recharge Facility

 Funds Transfer within Summit Bank

 Inter Bank Fund Transfer

 View and Download Account Statement

 View ATM/VISA Debit Card Transaction Details

 Activate/Deactivate ATM/VISA Debit Cards

 Change ATM/VISA Debit Card PIN

 Manage Spend/Withdrawal Limits for VISA Debit Cards

 View Status & Stop Payment of Cheques

 View Consumer Loan Details

42
  Register and Track Complaints

 View Internet Transaction Activity Log

How to Register

 Dial 0800-24365 or

 Visit your nearest Summit Bank branch

8.3 Contact Center

Summit Bank’s 24/7 Contact Center is a state-of-the-art telephone

information hub, based on cutting edge communications technology. For any
queries, concerns or complaints, you can call our Contact Center toll free, at
0800-24365 – 24 hours a day, 365 days a year.

An interactive voice response (IVR) system allows you to bank directly and
independently, without the need of speaking to our Phone Banking Officers.

You can avail the following services through the Contact Center:

 Balance Inquiry

 VISA Debit Card Activation

 VISA Debit Card Blocking & PIN Change

 Utility Bill Payments

 Cheque Book & Pay Order Requests

 Complaint Registration

43
 Statement Requests

 Mobile Balance Recharge

 Product & Service Information

44
8.4 UPayments
With the Ufone connection and Summit Bank account, you can avail
convenience like no other
Summit Bank & Ufone brings you the convenience of banking now on your
mobile phone. Activate Upayments on your mobile phone and access your
Summit’s bank account anytime you want.

To use Upayments, all you need to have:

1. A Ufone GSM subscribed connection

2. A bank account in Summit Bank

Upayments gives your mobile phone power to do:

 Balance Enquiry

 View Mini Statement

 Transfer money

 Pay Utility Bills

 Load Prepaid Balance

 Pay Postpaid bills

45
8.5 Mobile Balance Recharge

Anywhere, anytime, every network! Summit Bank’s Mobile Balance Recharge

service, the first of its kind, is the easiest and quickest way of recharging
your own and your friends’ and family’s mobile airtime.

How to Use

For your own airtime:

Go to your write message option and type:

<mr> space <short code of the mobile network> space <amount>

And send SMS to 24365

For example, if you are a Mobilink subscriber, to re-charge an amount of Rs.

100, type:

mr mk 100

And send SMS to 24365

Ufone & Warid Customers, click here to view the SMS Guide

Customers who are already subscribed for SMS alerts are automatically
eligible for this service.

Mobile Company* Short Code Available Denominations

Mobilink mk 100, 300, 600, 1000
Ufone ue 100, 250, 500, 1000
Warid wd 100, 250, 500, 1000

46
 Zong zg 100, 300, 500, 1000
Telenor tr 100, 250, 500, 1000
Vfone ve 100, 300, 1000
PTCL pl 100, 250, 500, 1000
Wateen wn 50, 100, 250, 500, 1000,
1500, 2000

*All company names mentioned are the copyright/trademark of the

respective company

8.6 Bill Payments

Save your time by availing Summit Bank’s Utility Bill Payments service.
You can now pay your bills through Internet Banking or sending an SMS to
24365.
Open an account in Summit Bank now to get this unique and efficient Bill
Payment service.
For further information and guidance, please call us now at 0800-24365.

To pay a bill through Internet Banking, go to www.summitbank.com.pk

and

log in to Internet Banking (Individual Customer).

To pay a bill through SMS follow the simple steps given below:

Summit Bank Bill Payments is an electronic bill payment service for your
convenience. So you can pay your utility bills in a smart and hassle-free

47
manner! You can pay your bills over SMS, Internet Banking, at any Summit
Bank ATM, or by calling our Contact Center at 0800-24365.

SMS

For Utility Bill Inquiry: Ufone & Warid Customers, click

here to view the SMS Guide

Go to your write message option and type:

<ubi> space <company code> space <consumer number*>

And send SMS to 24365

e.g.

For SSGC bill inquiry

ubi ssgc 123456789012

And send SMS to 24365

For Utility Bill Payment:

Go to your write message option and type:

<ubp> space <company code> space <consumer number*> space

<amount>

And send SMS to 24365

e.g.

For KESC bill payment of Rs. 1200

ubp kesc 123456789012 1200

And send SMS to 24365

* To pay KESC bills, write the account number instead of the consumer
number

The following companies**, listed with their short codes, are available for Bill
Payments:

48
S.NO Merchant Name Category

1 Balochistan Water and Sanitation Authority BWASA

2 Faisalabad Electric Supply Company FESCO

3 Gujranwala Electric Power Company GEPCO

4 Hyderabad Electric Supply Company HESCO

5 Islamabad Electric Supply Company IESCO

6 Karachi Electric Supply Company KESC

7 Karachi Water and Sewerage Board KWSB

8 Lahore Electric Supply Company LESCO

9 Lahore Water and Sewerage Authority LWASA

10 Multan Electric Supply Company MEPCO

11 Multan Water and Sanitation Agency MWASA

12 Pakistan Telecommunications PTCL

13 Peshawar Electric Supply Company PESCP

14 Quetta Electric Supply Company QESCO

15 Rawalpindi Water and Sewerage Authority RWASA

16 Sui Northern Gas Pipelines SNGPL

17 Sui Southern Gas Company SSGC

18 Tribal Area Electric Supply Company TESCO

**All company names mentioned are the copyright/trademark of the

respective companies

49
Internet Banking

You can pay your bills anytime by logging in to Internet Banking at

www.summitbank.com.pk

ATM
Pay utility bills with your ATM/VISA Debit Card at any Summit Bank ATM. 24
hours a day, 7 days a week, year round.

Contact Center
Call 0800-24365 to pay your bills round the clock.

*All company names mentioned are the copyright/trademark of the

respective companies

8.7 Inter Bank Funds Transfer

With our IBFT facility, you can easily transfer funds to accounts in other
banks using our ATM or Internet Banking.

Summit Bank IBFT enables you to send and receive funds on a real-time
basis to and from any account holder of 1-Link IBFT participating member
banks.

Key Benefits

 Convenience

 Instant transfer

 Round the clock facility

50
  Eliminates use of cash & cheques

You can transfer funds immediately to any of the following banks*:

 Allied Bank Limited

 Askari Bank Limited

 Bank Al-Habib Limited

 Bank AlFalah Limited

 Bank of Punjab

 BankIslami Pakistan Limited

 Burj Bank

 Dubai Islamic Bank

 Faysal Bank Limited

 Habib Bank Limited

 JS Bank

 KASB Bank Limited

 NIB Bank Limited

 Silk Bank

 Sind Bank

 Soneri Bank Limited

 Standard Chartered Bank

 Tameer Micro Finance Bank

 United Bank Limited

51
You can transfer funds instantly from your nearest branch, ATM or through
Internet Banking

Transfer Funds Through ATM

 Insert your ATM/VISA Debit Card

 Enter your PIN

 Select “Funds Transfer” from the Main Menu

 Select “1-Link member bank” from the Funds Transfer Menu

 In the “From Account” option, select your account type for transfer of
funds

 Select bank to which funds will be transferred

 Enter the Beneficiary Account Number

 Enter the amount to be transferred

 Verify the Beneficiary Name, Bank and Branch

 Confirm the transaction

Transfer Funds Through Internet Banking

 Log in at www.summitbank.com.pk

 Click “Funds Transfer”

 Click “Other Bank Account(s)”

 Select the account you want to transfer funds from, and enter the
amount

 Select the bank you want to transfer to

 Choose your transfer option (Beneficiary List Account or Other

Account)

52
 For Other Account, enter the Account Number and click Fetch Title.
Verify account details and click Submit to complete transfer

 For Beneficiary List Account, select a beneficiary from the list and click
Submit to complete transfer

53
8.8 eStatement

e-Statement is a convenient facility, through which you can choose to

receive your account statements over email, so you can access your
statement whenever you choose, wherever you go. The paperless service
allows you to save account records without any paperwork.

You can choose from a list of customized statement periods.

Statement Periods:

 Daily

 Weekly

 Fortnightly

 Monthly

 Quarterly

 Half-yearly*

 Yearly*

*Default periods

54
8.9 Visa Debit Card

Summit Visa Debit Card welcomes you to a world of privilege and pleasure.
Be it shopping, dining or travelling, Summit Visa Debit Card lets you do it all,
with ease and panache. With the accessibility one aspires for and the
convenience one desires, Summit Visa Debit Card redefines purchasing
pleasure.

8.9.1 Visa Debit Card – Classic

Combining domestic convenience with international luxury, Summit Visa

Debit Card is a perfect alternative to cash. As the most versatile payment
tool in the market, it incorporates the benefits of flexibility, security and
incomparable convenience, and is your gateway to unparalleled rewards.

Summit Visa Debit Card also opens up avenues to a world of Electronic

Banking services. Now you can pay your bills, transfer funds, monitor your
account, purchase prepaid airtime and do a lot more, all with your Summit

55
Visa Debit Card. Offering you the highest value for the lowest prices, this
Card empowers you with world class purchasing convenience.

It is as simple as Shop Swipe Sign

Benefits

 Worldwide acceptability

 Flexibility of usage

 Complete personal financial management

 Security, Reliability, Convenience

 Insurance

 Vast privileges /unique benefits

 Zero loss liability

 Flexible daily spend limits

 24 Hr emergency helpline

 Competitive rates

 Annual Fee Waiver for the first year

 Countless deals / discounts/ packages both locally and internationally

 Access to electronic banking services

 E –Alerts

 Funds Transfer Via ATM

 Mobile recharge Via ATM

 Utility Bill Payment via ATM

For details, visit your nearest Summit bank branch, and feel the spending
power in your hands.

56
8.9.2 Visa Debit Card – Gold

The luxury you deserve

Summit Visa Debit Gold Card grants you access to a vast bundle of Gold
privileges and benefits. As our preferred customer, you get a superior level of
service along with an ease to purchase all that you like, effortlessly and
conveniently. Exciting domestic deals and enticing international packages
guarantee you the highest level of purchasing pleasure.

Summit Bank now introduces the Cash Back Card! With SMBL Visa Debit Gold
Card, you are rewarded every time you shop. When you make a purchase,
you get a 5 % cash back* if your shopping ranges between Rs.3,000 to
Rs.10,000 every month. This Card not only offers you ultimate in purchasing
convenience but also rewards you for it. No matter what you buy and with no
inhibiting terms & conditions, SMBL Visa Debit Card is not just an ordinary
payment tool but a truly rewarding experience. To avail your share of this
experience, please dial 0800-24365 or visit Summit Bank Branch closest to
you.

Cash Back Features

 5% CASH BACK* applicable wherever you shop (Only valid for Current
Account Holders)

 Applicable on spend amount as low as Rs.3,000/-

 Maximum spend limit Rs.10,000/-

 The cash back amount will be credited to your account at the start of
the following month (if criteria met)

 Applicable only on Gold Card Holders maintaining minimum average

balance of Rs.300,000

57
Cash Back Benefits

 No astronomical spend criteria

 No hidden conditions

 Flat 5% cash back* across any and all retail outlets

 No barriers to minimum or maximum transaction counts

 Applicable on spend limits as low as Rs.3,000

 Get Rs.500 on spending Rs.10,000 anywhere in a whole month

 Such a Deal has never been offered previously on Debit Cards

Added Benefits

 Great local & international Privileges

 Visa Global Customer Assistance Services (GCAS)

 Lost/Stolen Card Reporting

 Cardholder Inquiry Service

 More discounts and deals to choose from

 Lowest charges than currently being offered elsewhere

 Access to a host of electronic banking services

 Annual Fee waiver for the first year

 Funds Transfer Via ATM

 Mobile recharge Via ATM

 Utility Bill Payment via ATM

58
8.9.3 Merchant Discounts
Now dine at your favorite restaurants and shops at the most happening
places with amazing discounts “The more you spend, the more you save”.

You can avail these discounts in six major cities of Pakistan in the following
categories:

• Restaurants & Cafe’s

• Clothing & Shoes
• Electronic & Gift Items
• Jeweller

Terms & Conditions

 Please inform the merchant before buying or placing an order where

payment needs to be made via Summit Visa Debit Cards.

 These offers are only available with Summit Bank Visa Debit Card.

 Offers cannot be used in conjunction with any other promotional

program offered by merchants.

 Summit Bank is neither responsible nor guarantees the quality of

goods or services provided by merchants.

 Summit Bank reserves the right to change the Terms and Conditions at
any time without assigning any reason thereof.

59
8.9.4 Free CIP Lounge Access

Summit Bank’s VISA Gold Card customers now enjoy privileged access to the
CIP Lounge when they travel abroad. Enjoy FREE access to the CIP Lounge
Facility for yourself and one guest at the Karachi, Lahore & Islamabad
airports during your international trips with:

 A comfortable sitting area to relax in

 Complimentary access to CIP Lounge for Summit Bank customers as

well as one guest.

 Access to leading TV Channels

 Access to newspapers and magazines

 Internet, fax and telephone facilities

 A wide range of snacks and beverages

 Information desk

 Mobile charging facility

Just show your Summit Bank Debit Card and enjoy these wide array of
services.

60
8.10 Dolmen Loyalty Debit Card

Summit Bank proudly announces the launch of its new product in Karachi
City!

Pakistan’s very first unique co-branded debit card; “Dolmen Loyalty Debit
Card”

Summit Bank & Dolmen Group together brings you a World Class Shopping
experience.This card welcomes you at Dolmen Mall with fascinating
discounts while you shop at your favorite outlet of apparel, footwear,
fragrances, home accessories or dine-in at your choice of restaurant or at
food court.

Benefits Envisage

 Discount: You can enjoy lucrative discount offered by selected

merchants located at Dolmen Mall.

 Reward Points: For every Rs. 50 you spend, you can earn one (1)
reward point which is redeemable at all selected merchants.

To Get your Card:

 Visit Summit Bank’s Sales & Service Center at Dolmen Mall Clifton,
Hyderi & Tariq road

 Visit any Summit Bank’s branch in Karachi

 Fill up & submit the account opening form at any of our branch.

 Call our Call Center anytime at 0800-24365 and get all the details.

Using the Dolmen Loyalty Debit Card

61
  Make purchase from selected merchants and present your card to the
cashier at the check-out counter.

 Cashier will swipe your card on the POS terminal and enter the payable
amount after discount.

 Cashier will ask you to enter your PIN code.

 After successful authorization, your account will be subsequently

debited for the transaction amount.

 Three Sales receipts will be generated (Merchant, Bank and Customer

copy).

 Carefully check the amount on receipts before signing the receipt and
return it to the cashier.

 Please ensure that you take your card and receipts before leave the
counter.

 Please note this card cannot be used on any ATM machine or any other
place(s) except at authorized merchants of Dolmen Mall Karachi.

Points Redemption

 You can redeem your points at any selected merchant.

 The merchant will swipe your card and enter the point redemption
amount in the POS Machine.

 System will check the availability of points.

 If the sufficient points are available then system will automatically

calculate the equivalent reward points and authorize the transaction.

 Three receipts of transaction will be printed (i.e Merchant, Bank and

Customer copy).

 Carefully check the amount on receipts before signing the receipt and
return it to the cashier.

 On this transaction, no reward points will be provided.

62
63
8.11 NIT Co-Branded ATM Card

How to get ATM Co-Branded Card

1. NIT Unit Holder may visit NIT office to sign ATM request form.

2. After internal approval and documentation, NIT will forward the request
to the Summit Bank team for ATM card personalization and subsequent
dispatch to the customer.

3. After receiving the ATM card, the customer will call Summit Bank’s
Contact Center at 0800- 24365 using the customer’s registered
number, provided at the time of card request.

4. The Contact Center agent will guide the customer regarding PIN
generation after customer verification has been performed.

5. After successful ATM PIN generation, the ATM card will be activated.

6. Activation of the card signifies the acceptance of terms and conditions

mentioned in the application form.

ATM Redemption/Cash Withdrawal

1. The limit of daily cash withdrawal through ATM Card is Rs. 25,000/- per
day or 50% of the value of its electronic holding, whichever is less.

2. The ATM based transactions will follow the same rules as paper-based
redemption for applicability of repurchase price, cutoff timing*,
deductions, etc.

3. Units for transactions executed before cutoff time will be calculated

using the forward day repurchase price.

4. Transactions executed after cutoff time will be calculated using the

following day repurchase price. (Monday to Friday – 1530 hours)*

5. CGT, Zakat, FED and WHT, if applicable, will be deducted on

redemption of units as per the prevailing rates.

64
Transaction Fee for Cash Withdrawal

1. Summit Bank ATM Network: Rs.5/-.

2. 1 Link ATM Network: Rs.20/-.

3. Transaction fee has been waived off for the first 6 months. However
after that it
will be deducted from the Unit Holder’s account by redemption of the
equivalent value of units.

Balance Enquiry

1. The unit holder will have the facility of checking the value of his/her
unit balance
using Summit Bank ATMs.

2. The balance amount shown will be based on the last available

repurchase price of the units, and will be updated after the end of each
business day processing.

3. Impact of any deduction (Zakat, CGT, etc., if applicable) as a result of

ATM redemption transaction will be shown on balance inquiry after day
end.

ATM Services

The customer can also perform following transactions on Summit Bank ATM
network:

 View Mini Statement

 Change ATM PIN

Transaction Alerts

SMS alerts will be sent for every transaction to the customer’s registered
mobile number

The facility of redemption of units using the co-branded card is applicable to

NIT electronic units of the individual unit holders only.

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8.12 NAFA Co-branded ATM Card

Summit Bank has joined hands with yet another renowned funds
management company of Pakistan – NAFA. With this arrangement, NAFA
customers will be facilitated with an exclusive co-branded ATM card,
specifically designed to cater to the needs of NAFA unit holders.

This unique card allows NAFA customers to instantly redeem their units in the
form of cash round the clock through Summit Bank’s wide spread ATM
network as well as via any 1-Link ATM anywhere in Pakistan.

NAFA customers can enjoy:

• Cash Withdrawal facility (Daily cash withdrawal limit: Rs. 25,000/- or 50%
of the value of NAFA units, whichever is less);
• Balance Inquiry;
• Mini Statement;

This facility is only available for the unit holders of NAFA.

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8.13 G2P Projects
Poverty is one of the biggest challenges face by our country as 60% of the
total population living below the poverty line (World Bank, 2002). In an effort
to accelerate the poverty reduction, the Government of Pakistan launched
the Benazir Income Support Program (BISP) with the support of World Bank
and other donors as a flagship government safety net initiative in 2008
across Pakistan.

The program aimed at covering 3.5 million families in all provinces of

Pakistan. Government of Pakistan allocated Rs.70 billion in last fiscal year-FY-
13 to provide the cash assistance to the poor families. The enrolled families
are paid cash assistance of Rs 1200 per month (www.BISP.gov.pk)
Being a socially responsible corporate organization, Summit Bank has joined
hands with Government of Pakistan for their G2P initiative to provide
financial assistance to poor families through Benazir Income Support
Program. We are participating in three G2P programs of BISP in eight (8)
districts consist of thirty one (31) tehsils :

 BISP-Mobile Payment Project

 BISP-Benazir Debit Card Project

 BISP-Waseela-e- Rozgar Project

To find more details about Benazir Income Support Program and to search for
beneficiary details. kindly visit www.BISP.gov.pk

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9. Remittance

Summit Bank has designed and developed its own electronic interface by the
name of ‘Amanat Cash’ to facilitate various exchange companies and banks
to send home remittance to Pakistan on real time basis. This has made
possible, for all Pakistanis, to receive remittances by their loved ones for
FREE, in a fast and fully secured manner. The service we offer is readily
available to every one regardless of having account in Summit Bank.

Salient Features Of Summit Bank Home Remittance includes:

 Fastest Account Credit

 Free

 Quick Processing

 Real Time

 Premium, exclusively dedicated friendly Customer Service for Home

Remittance Customers.

 24/7 Customer support through Contact Center.

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8.1 Our Alliances

To facilitate expatriates, Summit Bank has created alliances with the finest
exchange companies in Dubai, Middle East, UK and USA making it convenient
to send money to your loved ones in Pakistan.

9.2 Western Union

We offer quick and convenient delivery of cash over the Counter services in
association with Western Union. No matter where you are around the globe,
if there is Western Union around, you can transfer funds to your loved ones,
in no time. This payment can easily be picked up in a matter of moments at
dedicated Western Union counters in our branches. No account at Summit
Bank is required for this service.

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8.3 Amanat Cash
Summit Bank is pleased to introduce Amanat Remittance services, namely
AMANAT CASH www.amanatcash.com

Summit Bank is affiliated with PRI (Pakistan Remittance Initiative) which is a

joint venture of ministry of finance and State Bank of Pakistan. It has
affiliation in all 165 branches and over 850 partner payout locations
nationwide. All the branches are online.

Summit Bank Ltd has the ability to transfer funds into beneficiary’s account
instantly through IBFT and RTGS enabled Banks (which covers over 90% of
account holders in Pakistan). Funds will be directly credited to beneficiary
accounts in Fast, Free & Secure manner.

Amanat Cash Services include the following:

1. Cash to Account (Instant Bank Transfer)

2. Cash-to-Cash Money Transfer (Instant Cash over Counter)
3. 9 am to 8 pm remittances disbursement services at selected branches in
all major cities to facilitate the beneficiary to collect the payments over the
counter, which no other bank offers.
4. Cash-to- AMANAT Card* (Remittance Card Service for the Beneficiary)
5. Cash-to-Cash Home-delivery Service**.

*To Start Shortly.

**The system also generates SMS to the Beneficiary intimating him/her
about the incoming remittance. Another SMS is sent to the remitter as soon
as the payout to the beneficiary is successfully done. A dedicated call center
is available for customer support and International Remittance Partner
support. The service is offered free to the customers availing pay-in and
payout services.

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8.4 Xpress Money

Xpress Money is simply the fastest way you can receive money from
anywhere. We take pride in ensuring that it reaches the beneficiary safely
and in a matter of minutes.

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10. Saturday Banking Branches
Summit Bank Limited also offer the services to our customer on the Saturday
24/7 BANKING BRANCHES
10:00AM TO 11:00PM BRANCHES
10:00AM TO 3:00PM BRANCHES
Selected Branches are open on Saturday according to above mention timing.

11. Evening Banking Branches

24/7 BANKING BRANCHES
EVENING BANKING TILL 11:00PM BRANCHES
EVENING BANKING TILL 8:00PM BRANCHES
Selected branches offering the 24 hours, 14 hours and 11 hours services to our
customer

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