Introduction of Faysal bank
Faysal Bank Limited was incorporated in Pakistan on October 3rd, 1994 as a
Public Limited Company under the Companies Ordinance, 1984. The Bank’s
shares are listed on Pakistan Stock Exchange. Faysal Bank is engaged in
Commercial, Retail, Corporate and Islamic banking activities. Barkat is the
dedicated Islamic Banking Division of Faysal Bank offering Shariah compliant
banking products and services for all segments of the market through its 197 full-
fledged Islamic banking branches.
Faysal Bank’s footprint now spreads over more than 150 cities with over 455
(including 255 Islamic) branches. With total assets in excess of PKR 599.914
Billion, placing it amongst the significant players in Pakistan’s banking industry.
Faysal Bank’s ambition is to provide par excellence service to its customers while
meeting their financial needs.
Faysal Bank Limited has been duly licensed as a Commercial Bank by the State
Bank of Pakistan (SBP). Barkat, the dedicated Islamic Banking division of Faysal
Bank has also been provided the license to operate as a standalone division having
separate Islamic operations from conventional. It carries on banking business
activities in line with the Banking Companies Ordinance, 1962.
Faysal bank’s
VISION
Excellence in all that we do
MISSION
Achieve leadership in providing financial services in chosen markets through
innovation.
VALUES
Our daily code of conduct is exemplified by eight core values:
The Faysal Bank Limited is a multinational bank based
in Karachi, Sindh, Pakistan.[3] which was incorporated in Pakistan on October 3,
1994 as a public limited company under the Companies Ordinance, 1984.
It is a publicly listed universal bank engaged in commercial, retail, corporate and
islamic banking activities and based on a number of metrics i.e. branch network,
asset base, deposit size etc. is positioned as one of the top-ten banks in Pakistan.
Currently the Bank's footprint is spread over more than 150 cities with 450+
branches which include 200+ Islamic branches and a declared expansion plan of
opening 200+ new branches over the next two years (2019/2020) which will
position the bank firmly in the top-5 category with a network of 650/700 branches.
After languishing for many years as a mid-tier bank with limited profitability. In
2014, the bank undertook a new strategic direction of focused growth and bad cost
rationalization. Under the new strategic direction the bank cut bad costs in the
initial one to two years and then used the capital released for growth. The bank has
now grown to a top-10 position and tripled profitability from ~1.5BN per year to
over 4.5BN per year within a period of four years.
As of June 2018, Faysal bank has an asset base which exceeds PKR 600BN -
approx US$ 6BN and a highly profitable core business.
Services offered by Faysal bank
Personal banking (Accounts & Finance)
Deposit Products Barkat Consumer Finance
Products
Faysal Islamic Current Account Faysal Islamic Car
Finance
Faysal Islamic Saving Account Faysal Islamic Home
Finance
Faysal Islamic Kamil Business Account
Faysal Islamic Investment Certificate
Basic Banking Account
Asaan Current Account
Asaan Savings Account
Barkat LifePlus Saving Account
Barkat PayCheq Plus Savings Account
Barkat Muntazim Savings Account
Business banking (Improve & Grow)
Products SME
Murabaha
Istisna’a
Diminishing Musharakah
Running Musharakah
Ijarah
Trade Services
Wealth Management (Takaful & Investment Plans)
Takaful and Investment Plans Life Takaful
Himayat Al’Usra Plans Takaful Shield Plan
Takaful Saving Plan
Takaful Save and Protect Plan
Takaful Secure Future Plans
Mustamir & Mustamir Plus Plans
Services
Debit Cards
Islamic Profit Rates & Weightages
Mobit – The App
Internet Banking
e-Statement
SOC
Call Deposit Receipt
Data collected about Faysal Bank·s MIS infrastructure
On the Banking side Faysal Bank offers most authentic financial solutions and on
the technology side it is second to none. Some of the salient features of its IT/MIS
infrastructureare:
First Bank to implement enterprise wise Linux Environment
Implemented state-of-the-art CISCO based IP Telephony Infrastructure
First Bank to implement centralized backup solution for 102 branches
Biggest deployment of Sun Thin Clients within Banking sector in Pakistan
Complete centralized environment
Online video surveillance of remote branches.
Offers VISA Debit Cards
Linux based systems
are basically open source. Its license is free and BankIslami pays aMonthly
subscription/annual fee which provides software upgrades and customer support.
Cost Benefit Analysis
Cisco based IT telephony structure
. It is a latest technology that uses IP phones which are similar to our internet lines.
This telephonic structure connects Intra-city as well as Inter-city branches. Same
lines are for data transfer and voice i.e. multiple purposes are served by asingle line
which makes it very cost efficient.
Sun Thin Client Server
. These systems have a Processor, RAM, network connection but nohard disk.
Everything runs on Servers. It makes use of Graphical Terminals with a
Windowsinterface. All data is stored on a central server which enables real-time
updation of data. Thisfacilitates and quickens the Support service leading to added
efficiency.
