JS Bank Limited, one of the fastest growing and most dynamic banks in Pakistan has recently inked a new strategic partnership with InfoTel Pakistan one of the leading cards services provider in the market and a partner of Thales e-Security Solutions.

To launch this new partnership, an agreement was signed by Mr. Kalim-ur-Rahman, President and CEO of JS Bank, and Mr. Riaz Siddiqui, Managing Director, InfoTel at the Head Office of the Bank in Karachi. The signing ceremony was attended by members of the management teams of both organizations, regional representatives of Thales as well as His Excellency Mr. Christian Ramage, the Consul General of the French Republic in Karachi.

Under the new agreement, JS Bank will enable its systems to offer its customer EMV compliant cards in both Debit and Credit categories thereby providing them with a cutting edge global standard of heightened security and increased functionality. Furthermore by complying to EMV, JS Bank will have a competitive advantage of issuing cards on the global platform of Java, thereby enabling them to be better equipped to offer more features and services in the days ahead.

Speaking at the signing ceremony, Mr. Kalim-ur-Rahman, President and CEO, JS Bank stated, “Credit and Debit cards are now a staple in customers’ lifestyle thereby making them the most visible face of any bank. By signing this agreement we are ensuring that we partner with a leading player to provide our customers with a heightened level of convenience, functionality and most importantly of security. Through this agreement we wish to ensure that we remain ahead in the race to provide our customers the best card products that complement their lifestyles both in Pakistan and around the world”.

Commenting on the new vistas opened as a result of the new partnership agreement, Mr. Riaz Siddiqui, Managing Director, InfoTel stated, “We will deliver the world’s best EMV technology i.e. Thales P3 which will provide customers with the highest possible security and the ability to add new applications during the cards lifetime and also prevent the bank from malicious activities”.

Acumen Fund, a pioneering nonprofit global venture firm addressing poverty across Africa and in South Asia, held a selection conference today in Karachi as part of the process to identify the inaugural class of Pakistan Fellows. In partnership with JS Bank, Mahvash & Jahangir Siddiqui Foundation and the Edmond de Rothschild Foundations, Acumen is working to develop the next generation of social change leaders who are building innovative businesses and strong institutions across Pakistan.

The first cohort of Acumen Fund Pakistan Fellows will include 20 individuals who are actively driving social change initiatives in Pakistan to participate in the year-long fellowship. Fellows then directly apply learnings from the fellowship to the work they are doing as social entrepreneurs and leaders within the private, NGO and government sectors.

“This new program is designed to support a new generation of Pakistani leaders who see opportunities where others see only challenges,” said Farrukh Khan, Country Director, Acumen Fund Pakistan. “It is invigorating to see the amount of interest we have received, both in number and quality of applicants from across Pakistan. We are grateful for the overwhelming support from our partners and local communities. Through this collaboration, we are broadening the community of leaders with financial skills, operational excellence and moral imagination to address pressing social and leadership issues faced by Pakistan today..”

The year-long program is comprised of four multiday seminars and two collaborative projects – a regional trip and an innovation conference. The seminars will give Fellows access to world-class speakers, trainers, and mentors who allow Fellows to deepen their skills in leadership, social change, and innovation. The Fellows also have the opportunity to travel within Pakistan to broaden their understanding of social change models. The innovation conference is meant to be a chance for Fellows to put into practice their new skills, as well as provide a platform to showcase their projects to a larger community of leaders.
“We at Mahvash & Jahangir Siddiqui Foundation and JS Bank believe that the path to a better society comes from investing in its leaders,” stated Ali J. Siddiqui, CEO, Mahvash & Jahangir Siddiqui Foundation. “Keeping in view the enthusiasm shown by the number of excellent applications received, it shows the hunger and the desire among the many talented people of this nation to seek ways to improve the prevailing conditions and challenge the existing status quo. It is our belief that the Pakistan Fellows Program will pave the road to a brighter future of this country by providing the tools and the knowledge required to develop the new generation of Pakistani leaders”.
The Pakistan Fellows program is just one part of Acumen’s investment in leadership and community of the Acumen Fund alumni network. The East Africa Regional Fellows Program is in its second year and just held its selection conference last week. Acumen intends to launch similar Regional Fellows Programs in India and West Africa in the coming years.

For additional information on Acumen’s Regional Fellows Programs, please visit www.acumenfund.org or contact Sabina Ansari atsansari@acumenfund.org.

JS Bank Limited, one of the fastest growing and most dynamic banks in Pakistan has recently inked a new strategic partnership with Allianz EFU, the leading health insurance provider in Pakistan.

To launch this new partnership, an agreement was signed by Mr. Kalim-ur-Rahman, President and CEO of JS Bank, and Mr. Taher G. Sachak, Vice Chairman, Allianz EFU, at the Head Office of the Bank in Karachi. The signing ceremony was attended by members of the management teams of both organizations.

Under the new partnership agreement, JS Bank will offer customers the health insurance products of Allianz EFU at all its branches which number over 160 in over 80 cities across Pakistan. The very first of these products is titled “SehatSarmaya”.  It is an inpatient hospitalization health insurance plan for the entire family and covers a whole gamut of health insurance concerns ranging from OPD expenses to hospitalization. The plan offers a wide variety of coverage options to the customers. It has flexible pricing, thereby ensuring that it can meet the needs of all types of customer segments.
Speaking at the signing ceremony, Mr. Kalim-ur-Rahman, President and CEO, JS Bank stated, “the launch of this new initiative between JS Bank and Allianz EFU is a partnership that has great promise. Both Allianz EFU and JS Bank have a vision of providing innovative products to their customers which are beyond what is ordinarily available in the market. The launch of SehatSarmaya is just the first of these products in our comprehensive bancassurance suite which includes a multitude of options including life insurance as well as investment plans. In time, I look forward to more products from Allianz EFU further enriching the suite of products which we can provide to our rapidly growing customer base across Pakistan”.

Commenting on the bright prospects of the new partnership agreement, Mr. Taher G. Sachak, Vice Chairman, Allianz EFU elucidated, “The launch of SehatSarmaya is a well-timed product launch for JS Bank as the rising cost of healthcare is becoming a concern for all major consumer segments. Being Pakistan’s leading health insurance provider, Allianz EFU is best positioned to provide impeccable service to JS Bank’s growing customer base across Pakistan through a wide range  of leading healthcare establishments as well as a broad network of practitioners. Added to that is the flexibility in the product which makes it possible for all types of customer segments to customize their healthcare plans in line with their needs and budgets”.

The State Bank of Pakistan has declared JS Bank as the number one Primary Dealer of Government Securities for the year 2010-2012

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Karachi: We are pleased to announce that JS Bank Limited (JS Bank) has signed a Sale and Purchase Agreement with HSBC Bank Middle East Limited (HMBE) for the acquisition of HSBC – Pakistan operations.

JS Bank is a majority owned subsidiary of Jahangir Siddiqui & Co. Ltd. and was formed after the merger and amalgamation of Jahangir Siddiqui Investment Bank Limited (formerly Citicorp Investment Bank Limited) and American Express Bank Limited – Pakistan operations. JS Bank commenced operations in Pakistan as a scheduled commercial bank on December 31, 2006 and currently operates 153 branches in 82 cities with a total asset base of PKR 64.53 billion as of 30 June 2012.

JS Bank is rated A+ (Single A Plus) by Pakistan Credit Rating Agency (PACRA) and is listed on the Karachi Stock Exchange.

In 2011 and 2012, JS Bank has been ranked as the No 1 Primary Dealer for Government Securities by the State Bank of Pakistan.

This acquisition will act as a catalyst in achieving JS Bank’s growth strategy to position the bank as one of the key players in the financial sector with the introduction of premium banking and credit cards suite.

As at 30 June 2012, HSBC’s Pakistan operations comprised a network of 10 branches and total asset base of PKR 59.07 billion.

The transaction is subject to the approval of State Bank of Pakistan and compliance with all other applicable laws, rules and regulations.

In regard to any related queries, please contact:

Mr. Imran Shaikh

Head of Marketing

JS Bank Limited

Cell: +92-301-8258876

Office: +92-21-35361717

Email: imran.shaikh@jsbl.com

The Mahvash and Jahangir Siddiqui Foundation representatives met with the students on their return from the NUS Summer Program on Economic and Enterprise Development. These eighteen students were selected after extensive interview sessions from 58 universities nationwide.

This was a two week summer program being held at the National University of Singapore (NUS) with the students from Pakistan being the 2nd largest group being represented. This year’s program hosted a large multicultural and diverse community of 65 undergraduate students from 13 countries, providing an excellent opportunity for participants to learn about Singapore: how the smallest nation in Southeast Asia has progressed into a modern city-state and has grown into a thriving centre of commerce and industry. These students also get an opportunity to learn about creative and innovative ideas to start their own business in future.

The students were also hosted by the High Commissioner of Pakistan in Singapore; Mr Syed Hasan Javed stated that Pakistan will be the “game changer success story” in the 21st Century. Pakistan is moving fast towards a knowledge economy. The event was attended by the leading Pakistani businessmen and Professionals resident in Singapore to support the initiative undertaken by Mahvash & Jahangir Siddiqui Foundation. The Pakistani students excelled in their work and were highly appreciated by National University of Singapore Faculty and other participants for their valuable participation to enhance the overall learning among all.

This is the 5th year Mahvash and Jahangir Siddiqui Foundation and Sajjad Foundation (Singapore) have been running the NUS Summer program on Economic and Enterprise Development as a continuous effort in making investments into various education initiatives in Pakistan. These Foundations annually sponsor the entire cost of the Pakistani students at this program as their endeavor to invest in education and to initiate and encourage entrepreneurship in the youth of today.

The Mahvash and Jahangir Siddiqui Foundation is a non-profit organization that has been working towards healthcare, education and social enterprise through sustainable development to underprivileged members of society with a special focus on women, minorities, children and disabled individuals. Foundation goal is to promote economic development and to enhance the dignity and quality of life of individuals, families and communities by eliminating barriers to opportunity and helping people in need reach their fullest potential. Mahvash and Jahangir Siddiqui Foundation also works nationally to provide immediate humanitarian relief during periods of crisis by delivering medical services, clean water, nutrition and housing to individuals displaced by natural calamities.