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.

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.

“MCB’s Mobile acceptance technology is exactly what is needed for bringing electronic payments, along with its benefits, to more merchants and consumers. With Mobile POS, we are opening up the market to all merchant tiers, bringing convenient and secure mobile checkout for every consumer.”

“The growing popularity of mPOS acceptance solutions, especially among micro and small merchants, is helping to drive the migration from cash to electronic payments. The UnionPay enabled program gives merchants and consumers the peace of mind they need when transacting with mobile phones.”

“Monet is providing MCB is Mobile POS technology services to add new payment experience with mobility. The mPOS technology introduces a new world of finance that moves beyond just payments. It is a complete merchant solution, addressing merchant needs across business functions such as marketing, finance, logistics or accounting. Additionally, mPOS enables everyone, from the small merchant around the corner to the global brand looking for consumer insights, to accept card based payments on-the-go.”

Khurram Zahid

The post MCB Launches Mobile POS Service appeared first on Smartchoice.pk.