Institute of Bankers Pakistan (IBP) has announced the nominations for the second Pakistan Banking Awards, based on different categories, which will likely to be announced in the next couple of months with a grand ceremony.
In a ceremony held at a local hotel today, IBP Chief Executive Officer (CEO) Hussain Lawai said the purpose of Pakistan Banking Awards is to promote competition among financial institutions, their roles in the economy and in bringing about improvements in banking services to the customers.
Pakistan Banking Awards has 8 categories:
- Bank the Un-Bank (Financial Inclusion)
- Best Micro Finance bank
- Best Bank for Small Business and Agriculture
- Best Bank for Corporate Finance and Capital Market Development
- Best Customer Franchise
- Best Islamic Bank
- Best Bank Environmental, Social and Governance
- Best bank over all.
Last year in May 2016, IBP announced Pakistan first Banking Award.
Leading bankers who are CEOs and Presidents of different commercial banks gave their suggestions in the ceremony.
HBL CEO and President Nauman Dar said the categories and criteria are not fulfilling the desires of the country’s banking industry.
There must not be any advertisement demand attached with the banking awards and that the contest should be similar to international banking awards.
Newly appointed CEO and President National Bank of Pakistan Saeed Ahmed said that the overall criteria for the awards are very tough and only few banks can meet it, especially in the Islamic Banking Industry in which merely one bank qualified for the awards.
After the discussions, it was decided that IBP will organize a workshop for the banks to register their nomination forms for the award.
Addressing as the chief guest, Governor State Bank of Pakistan (SBP) Ashraf Mehmood Wathra added that there must be some criteria of banks geographic expansion in the upcoming awards, and that Banking awards will create healthy competition among financial institutions.
He pointed out that the banking sector as a whole neglected the rural and underprivileged areas of the country especially small cities in all four provinces.
Ashraf Mehmood Wathra also said that banks are not marketing SBP discounted loan products, adding they have to improve the customer experience.
The Jury of Pakistan Banking Awards 2017 comprised of eminent personalities involved with the Financial Industry:
- Syed Salim Raza- Former Governor, State Bank of Pakistan
- Azhar Hamid- Former Banking Mohtasib Pakistan and Former Country Head, SCB Pakistan
- Feroz Rizvi- President & CEO Pakistan Institute of Corporate Governance
- Dr. Zeelaf Munir – MD & CEO English Biscuit Manufacturers Pvt. Ltd. and
- Mr. Shehzad Naqvi- Former Regional Head of Citibank Middle East and Pakistan