Bank Alfalah
Encyclopedia
Bank Alfalah Limited is a private bank in Pakistan
owned by the Abu Dhabi Group. Bank Alfalah was incorporated on June 21, 1992 as a public limited company under the Companies Ordinance 1984. Its banking operations commenced from November 1, 1992. The bank is engaged in commercial banking and related services as defined in the Banking companies ordinance, 1962.
ing and related services as defined in the Banking companies ordinance, 1962.
After a few years, the bank introduced its new identity of H.C.E.B after the privatization in 1997. The management of the bank had implemented strategies and policies so the bank would become a major player in the market. With a partnership with the Abu Dhabi Group the position of the bank became stronger which allowed the bank to invest more in technology to increase its range of products and services.
operations of Shamil Bank of Bahrain for US $17.88 million and renamed it to Bank Alfalah. This was the first branch of the bank outside Pakistan
.
Consumer banking
Electronic Banking
Corporate banking
Treasury
& Investment
. Some of the main branches are located in all of the major cities including: Chakwal
, Hyderabad
, Lahore
, Kasur
, Islamabad
, Gawadar, Peshawar
, Faisalabad
, Quetta
, D.I.Khan, Rawalpindi
, Sargodha
, Sheikhupura
, Sukkur
, Sialkot
, Multan
, Murree
, Attock District
, Gujranwala
, Pirmahal
, Mirpur Khas
Lodhran
etc.
Pakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...
owned by the Abu Dhabi Group. Bank Alfalah was incorporated on June 21, 1992 as a public limited company under the Companies Ordinance 1984. Its banking operations commenced from November 1, 1992. The bank is engaged in commercial banking and related services as defined in the Banking companies ordinance, 1962.
History
Bank Alfalah Limited was launched on June 21, 1992 as a public limited company under the Companies Ordinance 1984. The bank commenced its operations on November 1, 1992. The bank introduced commercial bankCommercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
ing and related services as defined in the Banking companies ordinance, 1962.
After a few years, the bank introduced its new identity of H.C.E.B after the privatization in 1997. The management of the bank had implemented strategies and policies so the bank would become a major player in the market. With a partnership with the Abu Dhabi Group the position of the bank became stronger which allowed the bank to invest more in technology to increase its range of products and services.
Bangladesh
On the 16th of May, 2005 Bank Alfalah formally took over the BangladeshBangladesh
Bangladesh , officially the People's Republic of Bangladesh is a sovereign state located in South Asia. It is bordered by India on all sides except for a small border with Burma to the far southeast and by the Bay of Bengal to the south...
operations of Shamil Bank of Bahrain for US $17.88 million and renamed it to Bank Alfalah. This was the first branch of the bank outside Pakistan
Pakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...
.
Functions
Branch banking- Deposits, RemittancesRemittancesA remittance is a transfer of money by a foreign worker to his or her home country. Note that in 19th century usage a remittance man was someone exiled overseas and sent an allowance on condition that he not return home....
, Foreign trade, Lockers.
Consumer banking
- Credit Cards , Auto loans, Home loans, Consumer durables, RTCs.
Electronic Banking
- Telephone bankingTelephone bankingTelephone banking is a service provided by a financial institution, which allows its customers to perform transactions over the telephone.Most telephone banking services use an automated phone answering system with phone keypad response or voice recognition capability...
, ATMsAutomated teller machineAn automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...
, Online bankingOnline bankingOnline banking allows customers to conduct financial transactions on a secure website operated by their retail or virtual bank, credit union or building society.-Features:...
Corporate banking
Corporate finance
Corporate finance is the area of finance dealing with monetary decisions that business enterprises make and the tools and analysis used to make these decisions. The primary goal of corporate finance is to maximize shareholder value while managing the firm's financial risks...
- Short/Long Term financeFinance"Finance" is often defined simply as the management of money or “funds” management Modern finance, however, is a family of business activity that includes the origination, marketing, and management of cash and money surrogates through a variety of capital accounts, instruments, and markets created...
, Trade financeTrade financeTrade finance is related to international trade.While a seller can require the purchaser to prepay for goods shipped, the purchaser may wish to reduce risk by requiring the seller to document the goods that have been shipped. Banks may assist by providing various forms of support...
, Structured financeStructured financeStructured finance is a broad term used to describe a sector of finance that was created to help transfer risk and avoid lawsStructured finance is a broad term used to describe a sector of finance that was created to help transfer risk and avoid laws...
.
Treasury
Treasury
A treasury is either*A government department related to finance and taxation.*A place where currency or precious items is/are kept....
& Investment
Investment
Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...
- Money marketMoney marketThe money market is a component of the financial markets for assets involved in short-term borrowing and lending with original maturities of one year or shorter time frames. Trading in the money markets involves Treasury bills, commercial paper, bankers' acceptances, certificates of deposit,...
, Forex market, Investments, Government securities, Correspondent banking.
Branches
The bank is currently operating through more than 362 branches domestically and an international presence in Afghanistan, Bangladesh and Bahrain, with the registered office at B.A.Building, I.I.Chundrigar, KarachiKarachi
Karachi is the largest city, main seaport and the main financial centre of Pakistan, as well as the capital of the province of Sindh. The city has an estimated population of 13 to 15 million, while the total metropolitan area has a population of over 18 million...
. Some of the main branches are located in all of the major cities including: Chakwal
Chakwal
Chakwal is the capital of Chakwal District, Punjab, Pakistan. It is located 90 km south-east of the federal capital, Islamabad and is named after Chaudhry Chaku Khan, chief of the Mair Minhas tribe from Jammu, who founded it in 1525 CE during the era of the Mughal Emperor, Zaheerudun Babur...
, Hyderabad
Hyderabad, Sindh
is the second largest city in the Sindh province of Pakistan. It is the seventh largest city in the country. The city was founded in 1768 by Mian Ghulam Shah Kalhoro upon the ruins of a Mauryan fishing village along the bank of the Indus known as Neroon Kot...
, Lahore
Lahore
Lahore is the capital of the Pakistani province of Punjab and the second largest city in the country. With a rich and fabulous history dating back to over a thousand years ago, Lahore is no doubt Pakistan's cultural capital. One of the most densely populated cities in the world, Lahore remains a...
, Kasur
Kasur
Kasur , the capital of Kasur District in Pakistan. Kasur is located adjacent to the border of Ganda Singh Wala between Pakistan and India, and is a tourist attraction because of the daily occurring Flags lowering ceremony...
, Islamabad
Islamabad
Islamabad is the capital of Pakistan and the tenth largest city in the country. Located within the Islamabad Capital Territory , the population of the city has grown from 100,000 in 1951 to 1.7 million in 2011...
, Gawadar, Peshawar
Peshawar
Peshawar is the capital of Khyber-Pakhtunkhwa and the administrative center and central economic hub for the Federally Administered Tribal Areas of Pakistan....
, Faisalabad
Faisalabad
Faisalabad , formerly known as Lyallpur, is the third largest metropolis in Pakistan, the second largest in the province of Punjab after Lahore, and a major industrial center in the heart of Pakistan. Before the foundation of the city in 1880, the area was very thinly populated. The population has...
, Quetta
Quetta
is the largest city and the provincial capital of the Balochistan Province of Pakistan. Known as the "Fruit Garden of Pakistan" due to the diversity of its plant and animal wildlife, Quetta is home to the Hazarganji Chiltan National Park, which contains some of the rarest species of wildlife in the...
, D.I.Khan, Rawalpindi
Rawalpindi
Rawalpindi , locally known as Pindi, is a city in the Pothohar region of Pakistan near Pakistan's capital city of Islamabad, in the province of Punjab. Rawalpindi is the fourth largest city in Pakistan after Karachi, Lahore and Faisalabad...
, Sargodha
Sargodha
Sargodha is a city in the Sargodha District of Punjab province, Pakistan.Sargodha is located in the northwest of Pakistan. It is the eleventh largest city of Pakistan and also known as Pakistan's best citrus-producing area. It is an agricultural trade centre with various industries...
, Sheikhupura
Sheikhupura
Sheikhupura or Shekhupur , formerly Kot Dayal Das or Singhpuria or Virkgarh , is an industrial city in the province of Punjab slightly northwest to Lahore in Pakistan. It is known for its historical places, and is commonly known locally as Qila Shaikhupura, because of the fort in the city,...
, Sukkur
Sukkur
Sukkur, or Sakharu , formerly Aror and Bakar, is the third largest city of Sindh province, situated on the west bank of Indus River in Pakistan in Sukkur District. However, the word Sakharu in Sindhi means "superior", which the spelling of the city's name in Sindhi suggests is the origin of the...
, Sialkot
Sialkot
Sialkot is a city in Pakistan situated in the north-east of the Punjab province at the foothills of snow-covered peaks of Kashmir near the Chenab river. It is the capital of Sialkot District. The city is about north-west of Lahore and only a few kilometers from Indian-controlled Jammu.The...
, Multan
Multan
Multan , is a city in the Punjab Province of Pakistan and capital of Multan District. It is located in the southern part of the province on the east bank of the Chenab River, more or less in the geographic centre of the country and about from Islamabad, from Lahore and from Karachi...
, Murree
Murree
Murree city is a popular hill station and a summer resort, especially for the residents of Rawalpindi/Islamabad, and for the cities of the province of Punjab, Pakistan...
, Attock District
Attock District
Attock District is a district in the north-west Punjab Province of Pakistan.The district was created in April 1904 by the merger of Talagang Tehsil in the Jhelum District with the Pindigheb, Fatehjang and Attock tehsils from Rawalpindi District of the Punjab province of British India.Attock...
, Gujranwala
Gujranwala
Gujranwala is a industrial city in the north-east of the Punjab province. It is the sixth largest city in Pakistan with a population of approximately 2,661,360 as on 24 June 2011...
, Pirmahal
Pirmahal
Pir Mahal is a city of Tehsil Kamalia - District Toba Tek Singh in the Punjab province of Pakistan. It is located at 30°46'0N 72°26'0E with an altitude of 148 metres ....
, Mirpur Khas
Mirpur Khas
Mirpur Khas is a city in the province of Sindh in Pakistan. It is the fifth largest city in the province with an estimated population of 488,590...
Lodhran
Lodhran
Lodhran is the chief city of Lodhran District in the Punjab province of Pakistan. It is located on the northern side of River Sutlej.-Administration:...
etc.