Mahvash and Jahangir Siddiqui Foundation (MJSF) sponsored young professionals for a weeklong summer program at the European Academy of Diplomacy in Warsaw, Poland. The participants were selected from all over Pakistan after extensive interview sessions for the programme “Diplomatic Skills Masterclass”.

This is the third consecutive year MJSF is collaborating with the European Academy of Diplomacy for aspiring diplomats and young professionals as part of its belief in investing in progressive learning programs for the betterment of Pakistan. MJSF has also been involved in similar summer programs taking place at National University of Singapore and Weill Cornell Medical College, Qatar.

The program prepared the participants for the challenges and rigors of diplomacy, public speaking, bilateral negotiations, fundamentals of leadership, diplomatic protocol, international business and working in multinational organizations.

The program made participants engaged in 30 hours of simulations, workshops and lectures using modern techniques, held at the European Academy of diplomacy.
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

JS Group conducts its Corporate Social Responsibility through a series of independent chairtable foundations led by the Mahvash & Jahangir Siddiqui Foundation.

Caption: Mahvash and Jahangir Siddiqui Foundation sponsored young professionals for the 3rd consecutive year from Pakistan to attend a summer program at the European Academy of Diplomacy in Warsaw, Poland.

The Pakistan Credit Rating Agency Limited (PACRA) has upgraded the short-term rating of JS Bank Limited to “A1+” (A One Plus) [Previous: ‘A1’]. The long-term rating of the bank has been maintained at “A+” (A Plus). These ratings denote a low expectation of credit risk while the capacity for timely payment of financial commitments is considered strong.

The ratings reflect steady fortification in JS Bank’s business profile. The bank continues to strengthen its market share in terms of deposits and advances. This has enabled the bank to build core revenues to a level – and growing – to adequately absorb costs. Lately, sizeable other operating income, an outcome of strong treasury operations, provided requisite boost to the profitability. This helped in consolidating capital adequacy, in turn, risk absorption capacity of the bank. The management intends to remain cautious – reflective in stated strategy of balancing advances growth and liquidity. The management is following a wholesome business strategy with prudent expansion targets through wide slate of liability and asset products. At the same time, it would continue to expand its operational scale. This is likely to add diversity and sustainability to the bank’s overall profile.

The bank aspires to sustain its overall growth momentum to enhance its competitiveness in a challenging banking industry. Consequent penetration – high share in system’s loans and deposits – besides ensuring sustainability in revenues would result in a further improvement of ratings. Meanwhile, rationalization in concentration levels would remain important.

JS Bank, in operations since December 2006, operates a network of 238 branches in 122 cities nationwide at the end-Dec14. Listed on the Karachi Stock Exchange since 2007, JSBL is a subsidiary (70%) of Jahangir Siddiqui & Co. Limited (JSCL). JS Bank, through its subsidiaries – JS Global Capital Limited (51%), and JS Investments Limited (52%) – and group associates, is well placed to develop a financial services hub. The ratings draw comfort from its close association with the ever strengthening JS Group. Mr. Jahangir Siddiqui, JS Group’s founder, chairs the bank’s eight-member BoD. Mr. Khalid Imran, the President/CEO of the bank, carries extensive experience in banking and he is supported by an able team. The bank has evolved relative stability in top team.

*See External Media Report from Business Recorder here

Welcome to WordPress. This is your first post. Edit or delete it, then start blogging!

JS Bank recently announced the launch of JS Bank e-Statement Service. This is a free of cost value-added service that will be provided to all account holders who choose to subscribe to the service.

The customer can select the frequency of his/her choice for receiving the e-Statement on the email address registered with the contact centre for this purpose. The statement will be emailed to the customer daily, weekly, fortnightly, monthly, quarterly, semiannually or annually.

Launch of this service adds immensely to the customers’ convenience of staying in touch with their bank account 24/7 anywhere in the world. The service is available to individual clients as well as to corporate customers.

The Board of Directors of JS Investments Limited, the Management Company of JS Growth Fund, a closed-end equity fund, has approved interim cash dividends of 7.5%, i.e.Re. 0.75 per certificate.   In addition, JS Growth Fund reported a net income of over Rs 661 million for the nine months ended March 31, 2011. This translates into earnings per certificate of Rs 2.18. The net assets of the fund as at March 31, 2011 were Rs 3.3 billion. The net asset value per certificate registered a 24.7% increase during the nine month period ended March 31, 2011 compared to its benchmark KSE 30 Index which increased by 21%, thus outperforming the benchmark by 3.7%.   This was announced in a meeting held on April 21st 2011, which approved the financial results for the period ended March 31, 2011. The above entitlement will be paid to the certificate holders whose names appear in the register of certificate holders on the close of business on May 23, 2011.   At the occasion, Rashid Mansur the CEO of JS Investments said “We are incredibly pleased by this announcement, as we are able to repay the trust of our investors through our continuing endeavour to realize the financial goals of our investors. We have once again put forth our expertise in consistently delivering value to our stakeholders and hope to continue this strong performance into the close of the current financial year.”