Remittances thru Banking Channel must for national cause: NBP President

NBP launches docu-drama “Hundi ko Lagao Kundi, Hawala ko Lagao Taala”
Corporate Ambassador/KARACHI: National Bank of Pakistan (NBP), the largest public sector commercial bank in the country, recently launched a campaign specifically designed to create awareness about the ills of money transfer through illegal channels to Pakistan.
The campaign was initiated with the launching of a short docudrama targeted towards Pakistani diaspora residing especially in UAE, Saudi Arabia and other GCC countries. NBP believes that this mode will prove to be an important medium to educate the masses about the advantages of sending remittances back home through legal banking channels, such as National Bank of Pakistan’s “Foree Remittances”.


This launch was well attended by a number of top officials. Mr. Jameel Ahmed, the Deputy Governor State Bank of Pakistan was the Guest of Honor and the event was presided over by Mr. Saeed Ahmad, the President & CEO National Bank of Pakistan.
Other State Bank of Pakistan executives who attended the event included Syed Samar Hasnain, Executive Director Development Finance Group, Mr. Abid Qamar, Director/Chief Spokesperson, Mr. Moinuddin, Head Pakistan Remittance Initiative and Mr. Arshad Sattar, Manager Services & Quality, Pakistan Remittance Initiative.
The top management from National Bank of Pakistan included the SEVPs, Group Chiefs and Divisional Heads including, Mr. Mudassir H. Khan, Mr. Aamir Sattar, Ms. Sultana Naheed, Mr. Tariq Jamali, Mr. S.H. Irtiza Kazmi, Mr. Risha A. Mohyeddin, Mr. Jamal Baqar, Mr. Shahid Iqbal Dar, Mr. Zahid M. Chaudhry and Mr. Shahid Saeed.
Deputy Governor State Bank of Pakistan Mr. Jameel Ahmad said that “Workers remittances are a life line for our external account balance.” It is indeed heartening to note that focused efforts of all stakeholders resulted in an increase in home remittances by 13.2% during the first two months of FY 18 after a fall of 3.1% in FY17.  There is a need to maintain this momentum and positive growth trajectory in coming months,” he said.
He was addressing the audience at the launch of a short docudrama targeted towards Pakistani diaspora residing especially in UAE, Saudi Arabia and other GCC countries.
Mr. Jameel Ahmad went on to add that our banks need to focus not only on the traditional corridors of remittances but also to explore untapped non-traditional corridors. “They should also improve their service levels in general and for remittance recipients in particular.
Similarly, introduction of innovative remittance products is required to attract new customers. Further, enhancement of infrastructure and systems and capacity building of human resources should be on-going tasks to improve efficiency,” he added.
He said that banks have to undertake effective and aggressive marketing campaigns within country and abroad. “I would encourage banks to use all mediums for marketing including print, electronic and social media”. Mr. Jameel Ahmad appreciated the initiative taken by NBP and thanked the management of NBP for advancing a national cause.
Speaking at the occasion, Mr. Saeed Ahmad, President & CEO NBP, said: “The biggest challenge facing the overall remittance business of Pakistan is the use of illegal system of Hawala / Hundi. This is used  by a large number of overseas Pakistanis due to lack of proper information. This affects the country gravely. If all remittances come via banking channels, our forex reserves will increase resulting better financial stability and improved standing of Pakistan in the International market.” He emphasised the need for documentation and cited reference of Surah-e-Baqra verse 282, where the importance of documenting contracts has been emphasized. He clarified that the use of Hundi/Hawala is also not desirable even from religious point of view.
He further added “This docu-drama launch (Hundi ko lagao kundi, hawala ko lagao taala) is not just about increasing the Remittance business of National Bank of Pakistan but the motive is much greater. The idea is whatever money is coming into the country is routed through legal channels so Pakistan as a country can fully benefit. Hundi / Hawala is illegal but mainly popular due to the perceived convenience it offers to the customers. Banks need to service the customers with an exceptional efficiency to compete, match and even surpass parallel services . The Banking industry need to enhance use of digital/branchless services. People need to be made aware and educated to use legal channels to transmit and receive money thru formal banking channels.”
“National Bank of Pakistan, has embarked upon developing services by using latest technology and for this purpose, a new Group by the name of “Payment Services and Digital Banking” has be established.”
NBP also ran a promotional campaign recently with Xpress Money. During this campaign, over a hundred customers were awarded prizes worth hundreds of thousands of rupees for sending their remittances from Xpress Money from around the world and collecting them from any of the NBP’s 1450 + branches. A lucky winner from the promotional campaign with Xpress Money was also invited at the ceremony to collect his winning prize of Rs.250, 000/- from the NBP CEO & President and Deputy Governor SBP.
On this occasion, S. H. Irtiza Kazmi also described National Bank of Pakistan’s involvement in the remittance business and expressed NBP’s determination to put greater emphasis to this segment with the aim to enhance inflows of remittance through banking channel.

10th Corporate Ambassador Awards: Pakistanis must send remittance through banks: Irtiza Kazmi

This is the Promo of the upcoming 11th Corporate Ambassador Awards, to be held in Islamabad after 10th of Muharram at Hotel Crown Plaza, Jinnah Avenue.

11th CorporateAmbassador Awards Promo01

Here is the coverage of 10th Corporate Ambassador Awards organized in Karachi at Beach Luxury Hotel.

award10 NBP Logo

Staff Report/KARACHI: Pakistanis must send remittances through banking channel to discourage ‘hundi’ and to support transfer of money through legal channels that would promote the economic stability in the country.

Irtiza Kazmi, EVP/Group Chief of Global Home Remittance of National Bank of Pakistan stated this while speaking as Chief Guest at the 10th Corporate Ambassador Awards organized at Beach Luxury Hotel in Karachi.

10th CA Awards Group Photo1

He said that for the first time in 13 years, the inflow of remittance in Pakistan has shown decline in 2016-17 because of global issues, including jobs cut in some Gulf countries.

He said that the current account deficit was very high, remittance are facing slowdown and this is the time our overseas Pakistanis should send maximum money through banking channels.

People often complain about the issues related to governance of the government, but people must themselves play their due role in promoting remittance and national economic development in Pakistan.


If every Pakistani is playing his/her role in nation building, Pakistan will certainly get stronger and stable, he added.

He said that National Bank of Pakistan was giving incentives and rewards to Pakistanis who are sending/receiving remittances through NBP through lucky draw. He said that the countrymen must take benefit of this scheme to support growth in remittance and nation building.


Speaking on the occasion Irtaza Sarwar, CEO of Gresham Private Limited said that Pakistan has enormous potential of alternative energy production. He said that his company was playing an important role in the development of alternative energy in the country.

He said that his company was ready to support the organisations and government departments that want to promote production of energy through alternative resources in Pakistan to overcome shortfall in production of electricity in the country.

10th Awards Profile01

Chief Editor weekly Corporate Ambassador organized the 10th Corporate Ambassador Awards at Beach Luxury Hotel in Karachi.

Renowned Fashion Designer Madiha Gohar was the Chairperson of the 10th Awards while famous Astrologist Ms Rozina Jalal was special guest speaker. Mehrin Ilahi, CEO of Majmua Art Gallery, Mubasher Mir, President Karachi Editors Club & Resident Editor Daily Pakistan, Faisal Zahid Malik, Chief Editor Daily Pakistan Observer and Nusrat Haris, famous Host of PTV morning show Subh-e-Nau were among the important participants.


Corporate Ambassador Awards is a social & corporate award introduced by senior Journalist Javed Mahmood in 2012. This award is given to the organizations and professionals belonging to any field who have to their credit some notable achievement(s) in their life, profession, business, career or social welfare. Students with certain ambitions and achievements have also been given awards. The purpose of organizing this award is to appreciate those who have done wonderful work and motivate others to follow the path of the High-Achievers in the society. Since 2012 more than 250 organisations and individuals have received this award.


Awards Jury Members Sept17

In the above picture following dignitaries are the Members of Awards Jury ___ Ms Rozina Jalal, Pakistan’s renowned Astrologist; Mubasher Mir, President, Karachi Editors Club & Resident Editor daily Pakistan & TV Analyst, Karachi. Ali Nasir, Senior TV Anchor of Business Plus & Analyst, Karachi; Muttahir A. Khan, Asst. Professor/Anchor & Analyst; Alveena Agha, BOL TV Anchor & Chief Editor Affairs magazine, Karachi; and Javed Mahmood, Chief Editor Corporate Ambassador.


Speaking on the occasion renowned Astrologist Ms Rozina Jalal said that the appreciation is must to support the organisations and individuals doing good work in our society.

She said that very few people appreciate others who deserve acknowledgement of their noble work for the well being of the people and the society. Rozina Jalal said that Chief Editor of weekly Corporate Ambassador Javed Mahmood deserves appreciation and support for promoting those organisations and individuals who have done good work in their profession.


She said that students are also being given awards free of cost for showing outstanding performance in study and in social work.


Nusrat Haris, famous TV Host, who won the Best TV Host Award, said that she was very glad after receiving the honour of this award. She thanked the Chief Editor of Corporate Ambassador Javed Mahmood and Members of Awards Jury _ Rozina Jalal, Mubasher Mir, Ali Nsir, Muttahir Ahmed Khan and Javed Mahmood who approved award for her.


Karachi Editors Club President and Resident Editor of Daily Pakistan Mubasher Mir said that organizing awards like event is very tough task. He said that he himself organizes two awards _ Energy Awards & Excellence in Journalism Awards every year.


Mubasher Mir said that we should promote the culture of appreciation and support all those who are promoting image, culture and good work of organisations and individuals in our society.


He also appreciated Javed Mahmood of Corporate Ambassador for holding 10th Awards in Karachi at Beach Luxury Hotel on Aug-25, 2017.

More glimpses of awards

10th CA Awards Group Photo1







National Bank of Pakistan was the main sponsor of this award. Arz-e-Pak was the media partner.


 10th Corporate Ambassador Awards

Aug 25, 2017

Beach Luxury Hotel, Karachi.

Media Ambassador Award

Faisal Zahid Malik

Chief Editor Daily Pakistan Observer



10th Corporate Ambassador Awards

Aug 25, 2017

Beach Luxury Hotel, Karachi.

Rising Talent Award

Asia Khan




10th Corporate Ambassador Awards

Aug 25, 2017

Beach Luxury Hotel, Karachi.

Dr Murtaza Mughal

Pakistan’s Social Icon Award



10th Corporate Ambassador Awards

Aug 25, 2017

Beach Luxury Hotel, Karachi.

Faisal Khan

Short-Movie Expert Award



10th Corporate Ambassador Awards

Aug 25, 2017

Beach Luxury Hotel, Karachi.

Corporate Pride For Pakistan

Mr Irtaza Sarwer

Executive Director Gresham’s

(Energy-Environ Specialists)




10th Corporate Ambassador Awards

Aug 25, 2017

Beach Luxury Hotel, Karachi.

Ali Nasir

Best Host of Business Programmes



10th Corporate Ambassador Awards

Aug 25, 2017

Beach Luxury Hotel, Karachi.

Media Ambassador Award

Syed Turab Ali Shah

Regional Chief of Daily Ausaf, Karachi.


10th Corporate Ambassador Awards

Aug 25, 2017

Beach Luxury Hotel, Karachi.

Corporate Banking Ambassador Award

Kafeel Burney



10th Corporate Ambassador Awards

Aug 25, 2017

Beach Luxury Hotel, Karachi.

Farah Naz (Journalists/Columnist)

Media Ambassador Award


10th Corporate Ambassador Awards

Aug 25, 2017

Beach Luxury Hotel, Karachi.

Sharmin Shafiq Khan

Govt Officer & Poetess



10th Corporate Ambassador Awards

Aug 25, 2017

Beach Luxury Hotel, Karachi.

Sobia Butt

Best Teacher Trainer Award



10th Corporate Ambassador Awards

Aug 25, 2017

Beach Luxury Hotel, Karachi.

Alamgir Khan Mehsud

Social Welfare Award

(Fix It NGO)



Dr Shujaat Mubarik

Associate Dean MAJU will receive his previous award. Last time he was out of country and could not receive his award.


Muttahir Ahmed Khan

Assistant Prof. MAJU is requested to receive award


10th Corporate Ambassador Awards

Aug 25, 2017

Beach Luxury Hotel, Karachi.

SHIELD for Special Guest

Rozina Jalal

Renowned Astrologist


10th Corporate Ambassador Awards

Aug 25, 2017

Beach Luxury Hotel, Karachi.

SHIELD for Chairperson of 10th Awards

Madiha Gohar


Technology versus Crimes

mobile phones

By Aqeel Shigri/ISLAMABAD

Technology has dramatically changed how we connect and socialize today. The associated communication revolution like communication mobility and social media revolution has impacted the way we think and set priorities.

In Pakistan, the growth of mobile phones and internet has been phenomenal but somewhat bewildering in the sense that regulating communication has lagged behind technological growth.

The recent news of registration of the devices through IMEI number has been a bane for the telecom operators and associated businesses as it further regulates a business under government spotlight for many reasons. It’s a good initiative but reasonably late since our markets have now flooded with mobile devices sans regulations. It would take a while before the new regulation takes root and begins to earn tax revenues and contain illegal movement of devices – the latter being a facilitating tool for the terrorists. More focus is required to influence and contain terrorist activities that continue to wreak havoc on innocent lives and economy of the country.

The IMEI (The International Mobile Equipment Identity) is a unique number, to identify mobile phones, as well as some satellite phones and can be used for stopping a stolen phone from accessing that network. However it falls short in case of smuggled and snatched handsets sets available in Pakistan.

The key is in evolving a database of such devices that can help track those being used for illegal activities. In developed parts of the world like Europe and the United States, their research on relationship of crime and technology has resulted in mature and secure systems especially for cellular phones and internet access. The foundation was developing strong databases of each and every living person in their territory.

For starters, instead of blocking all the unregistered devices immediately, first such devices should be located investigated and registered. That would lead to a filtered and authentic database.

PTA new regulation draft (available on their website) is well researched and covers exhaustive possibilities and scenarios but needs aggressive awareness campaigns. Most of the consumers don’t know about the implications of implementing the new policy.

The question is when and how will it evolve into an effective policy? Will it be a smooth process for millions of customers and without a negative experience? We believe it all depends upon the process, the cooperation of MNOs, ISPs and majorly consumers, who aspire for a safe and secure country. (Note: Writer is an expert of corporate communications)

MAJU’s inter-university Singing Competition Enthralls Karachites


Harry Javed/KARACHI: As the whole nation was in the euphoria of the Independence Day celebrations, Mohammad Ali Jinnah University (MAJU) too hosted a series of various vibrant and energetic activities and events, in this regard.


The most enthusiastic and appreciated episode was the All Pakistan Interuniversity National Songs’ Singing Competition that offered twelve melodious and zealous performances by the students from different universities and they were selected out of the fifty entries through auditions held on 11th August.


The first position was grabbed by Haseeb and Minahil (Karachi University), the second by Haseeb Ahmed (Bahria University) and the third was captured by Aun Ali (St Patrck’s College). The Chief Judge was legendary Musician and Head of the Music Department National Academy of Performing Arts (NAPA) while Hina Waqar Qadri and Huma Kiran were the Judges.

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Besides, famous TV Host, Model and Actress Nazia Malik, famous TV Anchor and Journalist Alveena Agha, Director Thespians Theatre Faisal Malik, Senior TV and Film Director Talal Farhat were the Guests of Honur. The Chief Judge Ustad Nafees Ahmed Khan and the President MAJU Zubair Ahmed Sheikh and Dean Dr. Shujaat Mubarak addressed the audience and praised the performance of the young and talented singers. They also shed light on the importance of the freedom and independence. MAJU students Hafiza Roomana and Assam Ahmed hosted the event.

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The event was organized by well-known educationist, author, journalist Muttahir Ahmed Khan who, commented on the occasion, said; “This event has been successfully planned, organized and concluded only on the basis of cooperation and hard work of the university staff and students. I am thankful to the President of the university Dr Zubair Ahmed Sheikh, Dean Dr Shujaat Mubarak, Registrar Naveed Akhter, Director Students Affairs Ahmer Umar, Faculty Members Rana Tariq Mahmood, Faisal Adamjee, Nadeem Ahmed. I wish to convey special thanks to Mr. Danyal Javed (Head Business Student Society), Daniyal Asad, Rahul, Mohsin Altaf, Mustafa, Maha Ehsan, Ruqiya Khan, Ali and Vajeeha Siddiqui”.


National Bank to offer Islamic loans to youth within a month: Saeed Ahmed


J. Choudhry __Corporate Ambassador/KARACHI: President of National Bank of Pakistan Saeed Ahmed said that the bank is launching Islamic loans scheme for the youth within one month.

He told senior journalists in Karachi on Aug 11, 2017, that thousands of youngsters wanted to obtain Shariah-compliant loans under the Prime Minister Youth Loans Programme. The Islamic loans scheme is being launched within a month to provide loans to youth who want to obtain Shariah-based loans.


National Bank of Pakistan arranged the maiden talk of the NBP President with senior journalists covering the financial sector in Karachi.

NBP President said that the bank had already disbursed loans among thousands of the youngsters under the Prime Minister Youth Loan Programme and the launching of Shariah-compliant loans for youth would magnify the scope and impact of this loans programme to engage youth, interested in starting their own business and expanding the existing of many youths.


He further said that the lending portfolio of the National Bank of Pakistan was well over 700 billion rupees to different sectors, with leading credit provision to the textile sector. He said that the agricultural sector had also been given more than 100 billion rupees loans by the bank and this amount of loans was higher than the amount provided by any other major bank in the country.


He further elaborated that the bank was expanding the network of ATMs for the facilitation of the bank’s customers. He said that back-up power system like generators and solar energy was being lined up to keep on running the ATMs during power outage.


NBP President also said that the bank is taking measures to provide some facilities to the pensioners who are getting pension through the bank. Some branches of the bank don’t have proper sitting arrangement for pensioners and air-conditioners in the humid weather. He said the bank is taking measures to ensure maximum comfort of the pensioners when they come to the bank.


Expansion in the ATMs network would also facilitate the cash payment to the pensioners and it will reduce the rush of the pensioners in branches from 1st to 7th of every month as during this period thousands of pensioners visit branches of NBP to get pension.

He said that he was facing one major issue _ the hiring of qualified and experts’ bankers due to lengthy hiring process. According to existing mechanism, National Bank of Pakistan first notifies the post within the bank, then the post is advertised in newspapers and then the process of interviews beings. All this process takes three to five months time and by that time, most of the candidates get jobs in other banks, he said.

Saeedahmad NBP

To a question about very low share of NBP in stock market in comparison with other big banks, NBP President Saeed Ahmed said that it could be because of the perception of the bank. Some investors at the stock market may not have good perception that is keeping the share of the bank very low. He said that manipulation could also be another reason and the National Bank was not manipulating its share to take it to the highest level.

He, however, hoped the overall performance of the bank was improving and the bank is also going to change its banking environment to offer facilities to the customers.

NBP head office

National Bank of Pakistan is the largest bank in the country in network in comparison with other big banks like Habib Bank Limited, MCB Bank, United Bank Limited and Allied Bank Limited.

All these five banks are reporting more than 145 billion rupees gross profit a year that is more than 80 percent of the banking sector profit.

EndSaeedahmad NBP




ZIMM Global celebrates collaboration with SPELT

ZIMM News - December 2015

Corporate Ambassador/KARACHI

ZIMM Global celebrated its collaboration with SPELT – Society of Pakistan English Language Teachers as part of the 31st SPELT conference in Karachi, Pakistan. The Event also marked a historical union of leading European and American Institutions, supported by the famous Oxford University Press.

The Theme “Teacher Cognition in Language “– The Journey so far and the next steps, which debated the theories that determine the true value of teachers in the work and school environment, teacher & networking – providing support, development and growth opportunities, literacy education –theories of language, student empowerment, improving English-level competence, theory of punishment in schools, teacher training and many other disciplines.

ZIMM Global Educational and Welfare Society is a not-for-profit  organization that participated in the conference ,presenting a key note speech followed by teacher training program training titled “ Creating Empathy In Classrooms – identifying 21st Century skills to enhance creativity and innovation in children beyond numbers and grades by connecting them with nature-play  and skill-sets that create the Whole-Child Approach in education.

According to COO-ZIMM Global  Syed Zeeshan A Shah : “ One of the brightest minds participated in the training workshop, where it explored self-awareness in teachers-social awareness, relationship skills and barriers to effective communication with children leading to create future teacher leaders” .

“Development consultancy is one of the weaker links within the education system in Pakistan, marred by lack of adequate coaching to teachers, poor governance and lack of transparency due to malpractices within the education sector , leading to an overall weak educational reform in majority of schools in Pakistan “, he said.

The Teacher Training workshop that lasted for 3 weeks was a successful  example of teacher training with the focus on empowerment, empathy for children and creating an environmental school culture. Prominent educationist and Founder of SPELT Pakistan, Ms. Zakia Sarwar, also met with participant and appreciated the efforts of Bravo s Academy teachers and also lauded the efforts of ZIMM Global in motivating teachers to do more with a message to take this further to other cities across Pakistan.

ZIMM’s key mission to inculcate effective training concepts for the holistic growth of teachers infused new energy and vigor in this journey towards excellence and create more awareness on child rights and education in the teachers of today.


NBP President visit Bahawalpur, Multan to boost morale of staff

Saeedahmad NBP
CORPORATE AMBASSADOR/Karachi: Saeed Ahmad, President and CEO of National Bank of Pakistan (NBP) visited Bahawalpur and Multan to participate in town hall meetings in a bid to boast employee morale. The theme of his speech was based upon the importance of building relationships with employees for organizational growth.
“At NBP, employees well-being is highly valued, and we understand the correlation between employee happiness and customer satisfaction, which translates in to overall organizational success. For this purpose, NBP shall be launching a host of employee welfare initiatives during this year.” Saeed Ahmad stated during the town hall in Bahawalpur.
NBP head office
“Moreover, the ongoing restructuring is being carried out to empower our field staff, enable relationship building between line managers and subordinates, and strengthen customer service. These endeavors will inculcate a reward culture throughout the organization, which inevitably will propel NBP to a leadership position within the industry.”
Saeed Ahmad, after assuming charge as NBP’s President and CEO has embarked on the journey of continuous relationship building with field functionaries through conferences, focus group sessions and town hall meetings.
These sessions serve as a platform to identify and resolve issues being faced by the field staff, while forming a stronger bond between controlling and field offices, andboosting employee morale.
NBP logo
Saeed Ahmad’s visit to Bahawalpur held great significance for employees, as it was the first time ever that NBP’s serving President and CEO visited the city. Apart from holding a town hall meeting, the President also inaugurated a new building for one of NBP’s Bahawalpur branches.
The President and CEO used the occasion to also provide a vision for the bank, and the larger banking industry. He mentioned that NBP realizes the importance of Bahawalpur and Multan as emerging economies and is willing to assist people in profiting from the immense opportunities these cities provide in industrial, SME and agriculture segments.
NBP is also pushing ahead with its branchless banking agenda in a bid to bridge the divide between the banked and unbanked segments as per State Bank of Pakistan’s vision. Islamic banking is also high on NBP’s agenda with new products and services being developed to tap in to the potential this segment offers. The bank wishes to turn Aitemad, Pakistan’s 3rd largest Islamic Bank in terms of network, in to a leading name.
NBP is a learning organization and places high importance on learning and development amongst its employees as competition is getting tougher, hence out of the box thinking is the key to success. Specialized training programs have been initiated across all grade and job functions for employees to learn new skills and translate learning into practice for organizational success.

Romildo vows to make world-class football team of Pakistan


Group photo of members of Karachi Editors Club with Brazilian Football Coach Romildo Sanches, General Manager Beach Luxury Hotel M.A. Azeem Qureashi, outside entrance of the hotel on Saturday, July 29, 2017. Mubasher Mir President of KEC arranged this get-together ahead of formal maiden-meeting of the Karachi Editors Club in Beach Luxury Hotel, Karachi.


By J. Choudhry/KARACHI: Mr Romildo Sanches, Brazilian football coach, vowed to make a world-class team of young Pakistani footballers who who can play World Cup and other international football championships.

Mr Romildo was guest of honour at the maiden meeting of the Karachi Editors Club held at 007-Restaurant f Beach Luxury Hotel, Karachi on July 29, 2017.


Mr Romildo slicing ‘Chaunsa’ the most delicious and arromatic Pakistani mango at Mango Festival, organised at Beach Luxury Hotel, Karachi on Saturday.

Sharing his views with KPC members, Romildo said he is making efforts to create a team of young Pakistani footballers in Karachi who can create name and fame in the world by playing world cup and other championships in future.


General Manager Beach Luxury Hotel MA Azeem Qureashi welcoming Mr Romildo at his hotel on Saturday ahead of Brazilian Coach formal face-to-face meeting with senior journalists and members of Karachi Editors Club.

He pointed out that his organization is selecting football-crazy students from famous schools in Karachi and Lyari as well. Pakistani young footballers have the potential to shine in the world as world-class footballers, he said.

Mr Mubasher Mir, President of the Karachi Editors Club (KEC) welcomed the football celebrity Romildo Sanches at the KEC’s meeting as guest of honour. Mir appreciated the efforts of Romildo in promoting football game in Pakistan and making efforts to develop a world-class team of Pakistani young footballers.


Senior journalists join Romildo Sanches at the Mango Festival inauguration.

The KEC President also welcomed the members of the club at the maiden formal meeting of the club and he highlighted the aims and ambitions of the newly-formed club in Karachi.

On Monday the members of Karachi Editors Club are visiting Manora on the invitation of Pakistan Navy, where the Naval officials will brief the members about coastal security and other important matters.

Earlier, Romildo Sanches was given the honour of inaugurating the mango stall set up by the Beach Luxury Hotel at its lobby. Romildo sliced ‘Chaunsa’ __ the most delicious and tastiest mango in Pakistan and tasted it to find it world’s most delicious mango.

Romildo said that this was his second visit to Pakistan, the first time he visited this country in Jan-2017. Pakistan is a very good country, people are very hospitable and I feel safe and happy in Karachi, he said.

Earlier, General Manager of Beach Luxury Hotel, Karachi Azeem Qureashi, welcomed Mr Romildo Sanches at as the Guest of Honour at the KEC meeting. He said that it will be pleasure to welcome media partners for coverage of respectable and famous football celebrity’s visit to Pakistan. He said the main purpose of this coverage was to notify the efforts of Romildo and his zeal towards training the youth specially the underprivileged by teaching them the fundamental and technical aspects of football.

Romildo’s commitment to soccer goes far beyond the pitch and since 2006, he has organized soccer tours to Brazil, where young athletes have the opportunity to participate in a social and cultural soccer exchange programme.



NBP reports growth in its share of remittances despite global slump

NBP head office
Corporate Ambassador/KARACHI: Seldom before home remittances have been vitally important for emerging economies like Pakistan as they are today. With immense pressure on sustaining and improving our foreign currency reserves, in the backdrop of struggling exports, home remittances has the potential to fill in the critical gap.
irtizakazmi“NBP has experienced a growth in its Home Remittance’s market share despite a reduction in home remittances by 3.08% in FY2017”, said S. H. Irtiza Kazmi, Group Head – Global Home Remittances at NBP. This turnaround has been made possible by the keen interest that the NBP management has shown in improving the overall business for the bank.
Continuous efforts have been made by NBP to provide superior services to its remittance customers through its extensive online branch network of more than 1,400 branches and 1100 ATMs, new alliances with international money sending businesses (MSBs) and through focused marketing of its products both in the local as well as international markets.
IrtizaKazmi speech
Home remittances has been one of the major factors sustaining the economy over the past several years. Special focus by the Ministry of Finance and the State Bank of Pakistan (SBP) through Pakistan Remittance Initiative (PRI) has helped increase the remittances to Pakistan through legal channels from USD11.20 billion in 2011 to USD19.30 billion in 2017.
Remittances volume from Australia to NBP increased by 150%+ during June 2017 alone. This was the result of one of several marketing campaigns that NBP launched during Apr-Jun quarter. One of the marketing campaigns with a leading MSB in GCC (including KSA and UAE) resulted in volume growth of 16% month-on-month. Yet another marketing campaign with a leading bank in KSA showed volume increase of 17%.
Several similar campaigns are also planned to be launched in the second half of 2017.
NBP is also working closely with the Ministry of Overseas Employment and HR development and Pakistani embassies/consulates across the globe to educate the existing and future expatriates regarding NBP’s remittance services. NBP has taken a lead in promoting legal channels to send remittances to Pakistan and discouraging Hundi/Hawala which are the key factors hampering the growth of formal remittance business in Pakistan through legal/banking channels.
Irtizakazmi speech1
Introduction of Foree Remittance Account, an account designed especially for the remittance customers by National Bank is another step towards promoting financial inclusion. It is the most convenient way to receive remittances by beneficiaries in Pakistan getting free SMS alerts. The Foree Remittance Account launched in 2014, has seen a stable growth in the deposit base for the bank while providing banking services to the unbanked population. With SBP’s vision to increase the ATM penetration, NBP Foree Remittance Account holders have the facility to withdraw cash from any linked ATM across Pakistan.
Irtizakazmi speech2
It is NBP’s vision to provide unmatched services to its remittance customers through digital platform integration. NBP is also moving towards creating digital disruption in the existing remittance market by introducing technologically advanced products to its customers. This will eliminate the need to visit a branch to collect remittances or even to visit an ATM hence offering a one window solution for various banking needs.
NBP, under the leadership of a forward-looking management is striving with renewed vigor and fervor to provide seamless banking services to all its customers. Improving our services is the number one priority and we will leave no stone unturned to achieve new heights in our service standards. We are committed to live by our slogan of being The Nation’s Bank.

One major cyber-attack t cost $121 billion damage to global economy

Cyber attack image

DUBAI: A major cyber-attack could potentially trigger up to $121 billion losses in the global economy, comparatively bigger compared with the damage caused by the US catastrophic natural disasters such as hurricanes Katrina and Sandy.
Lloyd’s of London, in a joint research with risk-modeling firm Cyence, studied two scenarios and their potential economic impact: a malicious hack that takes down a cloud service provider, and cyberattacks on computer operating systems run by major businesses around the world, Arab News reports.

In 2016, cyber-attacks caused a damage worth as much as $450 billion a year.
Lloyd’s has estimated that the uninsured gap could be as much as $45 billion for the cloud services scenario, meaning that less than a fifth of the economic losses are actually covered by insurance.“For the cloud service disruption scenario, average economic losses range from $4.6 billion from a large event to $53 billion for an extreme event,” the world’s oldest insurer said in its 56-page report.
“Because of the uncertainty around aggregating cyber losses this figure could be as high as $121 billion or as low as $15 billion,” depending on factors such as the different organizations involved and how long the cloud service disruption continues.
Lloyd’s said economic damage from a massive cyber-attack would be higher than the $108 billion caused by hurricane Katrina in 2005, and the $70 billion in losses from hurricane Sandy in 2012.

In comparison, the WannaCry ransomware attack in May, which infected more than 230,000 computers in over 150 countries, was estimated to have cost the global economy at least $4 billion. Inga Beale, chief executive of Lloyd’s, said: “Just like some of the worst natural catastrophes, cyber events can cause a severe impact on businesses and economies, trigger multiple claims and dramatically increase insurers’ claims costs. Underwriters need to consider cyber cover in this way and ensure that premium calculations keep pace with the cyber threat reality.”

Meanwhile, the insurance gap could be as high as $26 billion for the mass vulnerability scenario, meaning that just 7 percent of economic losses are covered.
Cyber cover is a relatively new type of insurance that has emerged in the last few years, of which Lloyds’s accounts for about a quarter of global premiums, and is harder to model and understand than natural catastrophe cover.
Consulting firm PwC estimates that annual gross written premiums are to increase from around $2.5 billion today to about $7.5 billion by the end of the decade.