The 3rd Pakistan Banking Awards were held on Friday, 8t of November 2018, the highest accolade in Pakistan’s banking sector was organized by the Dawn Media Group, Institute of Bankers Pakistan (IBP) and A. F Ferguson.

The awards were given by the chief guest State Bank Deputy Governor Jameel Ahmed, Dawn CEO Hameed Haroon, Dr Ishrat Husain, Shabber Zaidi of A.F. Ferguson and acting chief executive of the Institute of Bankers Pakistan Farooq Shaikh.
The awards were given in different categories and for different services, in which the banks have out-performed themselves; the areas rewarded included financial inclusion, customer convenience, technology in banking, Islamic banking, trade finance including SME and agriculture.

The jury members of the bank awards 2018 have a vast experience of working for the financial sector and the awards were decided after thorough review of product offerings and performance of all the nominee banks.

Other members of the Dr Husain-led jury were former president and CEO of Bank Alfalah Atif Bajwa, former president and CEO of Faysal Bank Ltd Naveed A. Khan, former president and CEO of United Bank Ltd Atif R. Bukhari, Dean and Director of the Institute of Business Administration Dr Farrokh Iqbal, CEO and Director of the Pakistan Business Council Ehsan Ali Malik and CEO and MD of English Biscuit Manufacturers Dr Zeelaf Munir.

Dr Hussain presided over the seven-member jury which took its decision founded on evaluation and performance of the banks which had sent their nominations for the Banking Awards.
Among all the banks who had participated in the bank awards, after in-depth analysis and scrutiny of the bank performances in all the categories the awards were presented.

The jury recognized Meezan Bank as the ‘Best Bank’ in Pakistan for its current as well as overtime standing in the country’s financial sector.
The Bank has previously been recognized at the same platform as the Best Islamic Bank in the country for years 2016 and 2017 for providing innovative Shariah-compliant financial solutions. It’s a phenomenal year on year growth, and contribution to the domain of Islamic finance in the region has also been a prominent factor in the past years.

The jury chose Dubai Islamic Bank as the Best Emerging Bank in Pakistan for 2018, The Bank also has received multiple awards at the prestigious Islamic Retail Banking Awards (IRBA) held in UAE this year, has also been awarded as the UAE’s largest Islamic bank, also received three other awards, including the ‘Strongest Islamic Retail bank in the World ‘recognizing its outstanding performance amongst the world’s Islamic retail banks.

HBL and Bank Alfalah received two awards in two different categories. In the category of best bank for small/medium businesses, Bank Alfalah was awarded the best bank. In the same category, HBL was awarded for its best performance in the agriculture sector. HBL received another award for the Best Investment Banking in Pakistan. Bank Alfalah also received a second award for Best Customer Franchise.

The Best Micro Finance Bank Award went to Khushhali Microfinance Bank and Mobilink Micro Finance Bank was chosen as the best bank in the category of Bank the Unbanked Award.

The State Bank of Pakistan Governor Tariq Bajwa addressing the ceremony said that “The financial sector is instrumental in the national development of a country. The role of the institutions contributing to this sector in various forms needs not only to be highlighted but should also be duly acknowledged,” (Dawn,2018)

Mr Bajwa further added that “I am strongly encouraged by maximum participation from banks and supporting institutions and would like to see more and more entrants in this event every year. These awards will showcase their efforts in promoting and projecting Pakistan as a progressive nation that is advancing towards economic stability and developing into a welfare state,” he said.

“These awards honour and promote the efforts of banks for developing new and innovative products and services while giving them the incentive to enhance their performance for the coming year. They encourage banks to gauge their standing within the industry by setting benchmarks. Most importantly, they inculcate a spirit of healthy competition as the awards are a great source pride for the winning institutions”, he said at the end of the award ceremony, encouraging banks and all the stakeholders in the financial sector for inclusive development of the society.

These events and accolades of appreciation create more enthusiasm and zeal to be better at what they do, as banks play a vital role in maintaining a smooth financial cycle, more people are encouraged to be part of the financial system by providing innovating products and services to the potential customers.

Khurram Zahid

The post Bank Awards 2018 appeared first on Smartchoice.pk.

1) Gloria Jeans Coffees
Faysal Bank:
15% Discount on Visa Gold, Visa Standard, Master Gold and Master Standard Credit Cards.
20% Discount on Visa Platinum, Visa Solitaire, Master Platinum and Master Solitaire Credit Cards.

HBL:
15% Discount on Visa Green, Visa Gold and Visa Platinum Credit Cards.

UBL:
20% Discount on Visa and Master Credit Cards.

2) Roasters Coffee House & Grill
Faysal Bank:
15% Discount on Visa Gold, Visa Standard, Master Gold and Master Standard Credit Cards.
20% Discount on Visa Platinum, Visa Solitaire, Master Platinum and Master Solitaire Credit Cards.

HBL:
10% Discount on Visa Green, Visa Gold and Visa Platinum Credit Cards.

Bank Alfalah:
10% Discount on Visa Classic, Gold, Platinum and Master Titanium Credit Cards.

3) KFC
Bank Alfalah:
15% Discount on Visa Classic, Gold, Platinum and Master Titanium Credit Cards.

4) Nandos
Faysal Bank:
Get Complimentary Starter OR Dessert on Visa Gold, Visa Standard, Master Gold, Master Standard, Visa Platinum, Visa Solitaire, Master Platinum and Master Solitaire Credit Cards.

5) Pizza Hut
HBL:
25% Discount on Visa Green, Visa Gold and Visa Platinum Credit Cards.

UBL:
25% Discount on Visa Platinum Credit Card.

Silk Bank:
Flat 30% Discount on Visa Gold and Platinum Credit Cards.

SCB:
25% Discount on Visa WorldMiles and Master Titanium Credit Cards.

6) FatBurger
Faysal Bank:
15% Discount on Visa Gold, Visa Standard, Master Gold and Master Standard Credit Cards.
20% Discount on Visa Platinum, Visa Solitaire, Master Platinum and Master Solitaire Credit Cards.

HBL:
15% Discount on Visa Green Credit Card.
20% Discount on Visa Gold Credit Card.
25% Discount on Visa Platinum Credit Card.

UBL:
20% Discount on Visa and Master Credit Cards.

SCB:
20% Discount on Visa and Master CashBack Credit Cards.

Askari Bank:
10% Discount on Master Credit Card.

7) Arizona Grill
Faysal Bank:
15% Discount on Visa Gold, Visa Standard, Master Gold and Master Standard Credit Cards.
20% Discount on Visa Platinum, Visa Solitaire, Master Platinum and Master Solitaire Credit Cards.

HBL:
10% Discount on Visa Green and Gold Credit Cards.

Bank Alfalah:
10% Discount on Visa Classic, Gold, Platinum and Master Titanium Credit Cards.

8) Burger King
HBL:
25% Discount Thursday till Monday on Visa Green, Gold and Platinum Credit Cards.
30% Discount on Tuesday and Wednesday on Visa Green, Gold and Platinum Credit Cards.

UBL:
15% Discount on Visa and Master Credit Cards.

SCB:
25% Discount on Visa WorldMiles and Master Titanium Credit Cards.

9) Johnny Rockets
Faysal Bank:
20% Discount on Visa Gold, Visa Standard, Master Gold and Master Standard Credit Cards.
25% Discount on Visa Platinum, Master Platinum and Master World Credit Cards.

Askari Bank:
25% Discount on Master Credit Card.

Silk Bank:
15% Discount on Visa Gold and Platinum Credit Cards.

HBL:
25% Discount on Visa Green, Gold and Platinum Credit Cards.

UBL:
20% Discount on Visa and Master Credit Cards.

SCB:
20% Discount on Visa and Master CashBack Credit Cards.

10) KababJees
HBL:
20% Discount on Visa Gold, Green and Platinum Credit Cards.

UBL:
30% Discount on Visa and Master Credit Cards.

11) Domino’s Pizza
Faysal Bank:
15% Discount on Visa Gold, Visa Platinum, Visa Solitaire, Visa Standard, Master Platinum, Master Titanium, Master Gold, Master Solitaire, Master World and Master Standard Credit Cards.

Askari Bank:
15% Discount on Master Credit Card

Bank Alfalah:
15% Discount on Visa Classic, Gold, Platinum and Master Titanium Credit Cards

SCB:
40% Discount on Visa and Master Credit Cards.

12) TGI Fridays
HBL:
25% Discount on Visa Green, Gold and Platinum Credit Cards.

SCB:
25% Discount on Visa WorldMiles, Visa Platinum and Master Titanium Credit Cards.

13) Butlers Chocolate Cafe:
UBL:
20% Discount on Visa and Master Credit Cards.

14) Bar B Q Tonight

Faysal Bank:
15% Discount on Visa Gold, Visa Standard, Master Gold and Master Standard Credit Cards.
20% Discount on Visa Platinum, Master Platinum, Visa Solitaire and Master Solitaire Credit Cards.

Bank Alfalah:
10% Discount on Visa Platinum and Classic Credit Cards.

HBL:
15% Discount on Visa Green and Gold Credit Cards.
20% Discount on Visa Platinum Credit Cards.

15) Pappa Roti

Silk Bank:
10% Discount on Visa Gold and Platinum Credit Cards.

So there you go folks, we’ve listed major cafes, restaurants and fast food outlets across Pakistan that offer discounts on various credit cards. While we think each bank is trying to give a decent catalogue of discounts to their patrons but HBL and Faysal Bank stand out with their discounts on majority of the eateries. SCB comes in at a close second for offering upto 40% discounts on various eateries. The next time you dine with your friends or family, make sure to pay via any of these credit cards to get fabulous discounts on your meals. If you wish to apply for a credit card please click here. Bon appetit!

Khurram Zahid

The post Best Credit Card In Pakistan Offering Discounts On Dining In 2016 appeared first on Smartchoice.pk.

FMFB offers targeted financial and multi-sectorial products and services, based on the ever changing needs of its clients, including a wide range of flexible loan products to serve the diverse financial needs of the unbanked and the under-banked in the rural, urban and semi-urban areas in Pakistan,” the statement said. “The bank also offers micro-insurance products with credit and saving services to all borrowers to provide protection against life, health and financial liabilities.”

An event was held in Islamabad with the presence of Princess Zahra Aga Khan and Prince Rahim Aga Khan for the signing ceremony. Sultan Ali Allana, chairman at HBL said the acquisition is in sync with the bank’s promise to be a front-liner in financial inclusion with a focus on serving clients from all segments of the society and across all areas of the country. Nauman K Dar, president and chief executive officer at HBL said the investment will enable the bank to accelerate the financial inclusion and rapidly scale up the customer base in the microfinance space.

HBL also promises to incorporate its guidance and technology based protocols such as branchless banking and mobile banking which suit the microfinance space as majority of the users in rural areas lack proper access, knowledge or the means to avail such services as walk-in customers and will also make it an easier and hassle free process for consumers.

Khurram Zahid

The post HBL Becomes Majority Stakeholder In First MicroFinance Bank appeared first on Smartchoice.pk.

The ceremony was attended by Mr. Ashraf Mehmood Wathra, Governor State Bank of Pakistan where an independent jury evaluated all the entries in eight different categories before finally announcing the winners.

The jury for the inaugural Pakistan Banking Awards included former SBP governor Syed Salim Raza, Pakistan Institute of Corporate Governance CEO Fuad Hashmi, State Life Insurance Corporation Chairperson Nargis Ghallo, former banking ombudsman Azhar Hameed, and former regional head for Citibank Middle East and Pakistan Shehzad Naqvi.

Speaking on the occasion, former SBP governor Raza highlighted the increased levels of banks’ investments in government papers.

United Bank Limited was awarded as the best bank for playing a major role in national development along with efficient management of its resources.

Habib Bank Limited clinched the Best Bank for Small Businesses and Agriculture Award for its strong performance, diversification and quality of small and medium enterprises (SME) and agricultural lending across the country. HBL also took the award for the Best Environment and Social Governance Bank for contributing the most in terms of the long-term sustainability of the environment, employees, customers and communities.

Next, Tameer Microfinance Bank bagged the Bank the Unbanked Award. It received the award for directing special focus to financial inclusion by increasing its outreach through rural and low-income urban penetration and diversification among all segments of account holders, including female account holders. It also got the Best Microfinance Bank Award for being the best all-around microfinance bank in terms of penetration, outreach, efficiency and access to low-income communities across Pakistan.

Best Bank for Corporate Finance and Capital Market Development award went to Muslim Commercial Bank for excelling in promoting capital market development, deepening secondary markets and providing advisory services to optimise the efficient use of industrial and commercial assets.

Pakistan Banking awards would’ve been incomplete without the inclusion of Islamic Banking as well. Here, Meezan Bank received the Best Islamic Bank Award for making the most progress in extending and expanding its Islamic banking franchise and raising public awareness.

Bank Alfalah won the best customer franchise award for its outstanding service delivery and attention on catering to customer’s requirements.

It’s great to see the banking sector enjoying a healthy environment and competition aimed at providing  banking consumers in Pakistan top quality services. We hope that the banks that failed to clinch an award this time around will strive hard to provide better services and become deserving for the awards next year!

Khurram Zahid

The post UBL Bags Best Bank At Pakistan Banking Awards 2016! appeared first on Smartchoice.pk.

Types Of Fuel Saving Credit Cards:
First of all we should let our readers know how various credit cards work to offer discounts on pretty much everything. For this case, there are three different ways in which credit cards offer these discounts:

1) There are dedicated cards that are made exclusively to spend on fuel and once you spend a set amount then you become eligible for the cash back which is a certain percentage of your total spending on fuel.

2) Next are cards that are not specific to fuel only but give cash back on various kinds of spending for e.g grocery as well as fuel.

3) Lastly come rewards card where you get reward points against your purchases and then you can redeem those reward points to get free fuel or other commodities as per the brands offered by your credit card provider.

Here are a few credit cards that offer cash back on fuel in 2016. This list includes cards that give cash backs on various kinds of services including fuel.

*PKR 1000 cap on cash back if refuel done from petrol pump other than PSO.
**1% cash back if refuel done from petrol pumps other than PSO.
All annual fees are exclusive of applicable FED.

Next come cards that offer reward points against spending which can be redeemed by getting various services available on your respective credit card. One of these is free fuel. Below listed are the Banks offering such credit cards:

Verdict:
Taking the above factors in consideration, we find that the cash back cards turn out to be a better value as they offer instant concessions against your purchases. In the cash back category we find that HBL Fuel Saver cards are the best as they provide the maximum amount of cash back. It’s definitely recommended for those who have a good amount of spending exclusively on petrol such as a case in which one has multiple cars that refuel for a good amount of money. If you think your usage is not specific towards one service only or if you’re spending is lesser then we think that Standard Chartered MasterCard Cash Back would be a good idea as it offers cash back on fuel as well as groceries which is a good idea for those with a family. Last but not the least, Faysal Bank mc² is a great alternative as well because it offers reward points on all types of spending be it shopping, dining or anything else. You can collect your reward points over a period of time after which you can redeem them to make free purchases from a list of brands that are onboard with Faysal Bank. Hence each card has its own suite of services that cater to various types of spenders and knowing your usage and then selecting a card is the best idea to gain maximum benefit.

Khurram Zahid

The post Best Fuel Saver Credit Card In 2016 appeared first on Smartchoice.pk.

Most banks that offer credit cards make sure to include Platinum card in the lineup. Corporations, particularly senior management, often use Platinum cards for the benefits they provide. It is often difficult to choose the best one from the options available, so we have compiled a list of Platinum cards provided by various banks in Pakistan and list down their rewards.

Note: The details have been taken from websites of the banks. Some facilities are equally provided by all banks to Platinum card holders such as high credit limits, personalized banking and VIP customer service. It’s the other facilities such as reward points and discounts that make the difference. In this blog we are covering these rewards so that readers can compare the cards and make a more informed choice.

Standard Chartered Bank Pakistan

Visa Platinum

• 5 reward points for every Rs. 200 (redeemable points)
• Concierge services

Bank Alfalah

Visa Platinum

• Discounts (Such as 20% off at Lal Qila, Pappsalis, Tuscany and Little China)
• 1 fortune point for every Rs. 50 (redeemable points)
• Concierge Services
• Priority Pass*
• Free CIP Lounge Access

Faysal Bank

MasterCard Platinum

• Shopping/dining discounts (Such as 25% off at Chung Pa and Cafe CZ)
• 1 reward point for every Rs. 200 (redeemable points)
• Double reward points for international spending
• Free CIP Lounge Access

MCB

Visa Platinum

• 1 reward point for every Rs. 50 (redeemable points)
• Triple reward points for international spending
• Priority Pass
• Free CIP Lounge Access
• 20% on selective local restaurants (such as Cafe Aylanto, Cafe Flo and Papasallis)
• Exclusive local discounts (such as 40% off on diamond jewelry from Almas Jewelers)
• Concierge Services
• Visa international discount offers

HBL

Visa Platinum

• Discounts (25% off at Nike, Charles & Keith, Pedro and Tag Huer)
• Free CIP Lounge Access
• 1 reward point for every Rs. 25 (redeemable points)
• 5x reward points for foreign currency transactions
• Visa international discount offers

UBL

Visa Platinum

• Discounts
• 1 reward point for every Rs. 50 (redeemable points)
• Triple reward points for international spending
• Free access to Shapes Health Club
• Free CIP Lounge Access
• Visa international discount offers

*Priority Pass is the world’s largest independent airport VIP lounge program and allows Platinum Card holders to use lounge facilities while they wait for their flights.

Conclusion

The platinum credit cards of all banks provide massive benefits but HBL’s Platinum Credit Card makes a stronger presence than most. The sheer number of rewards & benefits overshadow others, particularly 5x points for foreign transactions and reward point on every Rs. 25 shopping.

MCB seems to be close second, with some great discounts and priority pass. Some banks, such as Silk Bank and Allied, do not have dedicated information pages for the Platinum cards and thus we were unable to find details of their offerings.

While the rewards sound great, the real benefit of Platinum Cards is the personalized banking and access to lounges on airports. For frequent travelers these are like heaven and the better the options for redeemable points, the more beneficial Platinum card gets.

The choice of Platinum Credit Card should be based on multiple factors, keeping one’s lifestyle in mind, and the benefits of the card will enhance the shopping experience.

Khurram Zahid

The post Most Rewarding Platinum Credit Card in Pakistan appeared first on Smartchoice.pk.