...objectives are set and the means of obtaining those objectives and monitoring performance. Corporate governance may be the ways of bringing the interests of investors and managers into line and ensuring that firms are run for the benefit of investors. Given the state of the economy of Pakistan in 2010, troubled as it is; ideally it would be more desirable to look at the governance issues at macro level for Pakistan. As a famous economist, Dr Shahid Javaid Burki- a long observer of Pakistan’s economy has recently stated “Pakistan can generate a greater bounce in its economy than India by creating better governance. It has occurred before in the country’s difficult economic history and could happen again.” (Improved Governance: Dawn, 12th, October 2010). However, as a starting point , in this paper we look at closely the governanceissues for the banking, a sector which has played a significant role till recent years in economic activity of Pakistan. Rehman et al (2010) have looked at the issue of corporate governance in Chemical and Pharmaceutical sectors of Pakistan and found that there is a significant impact of corporate governance on the shareholder’s returns in pharmaceutical sector of Pakistan. Corporate governance has become...
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...the Global Financial Crisis and 2008 financial crisis, is considered by many economists to be the worst financial crisis since the Great Depression of the 1930s. Many causes for the financial crisis have been suggested, with varying weight assigned by experts. The U.S. Senate's Levin–Coburn Report asserted that the crisis happened because of: 1-High risk 2 Complex financial products 3-Undisclosed conflicts of interest 4-The failure of regulators 5-The credit rating agencies 6-The market itself to rein in the excesses of Wall Street 7-Weak and fraudulent underwriting practices 8-Deregulation 9-Predatory lending 10-Increased debt burden or over-leveraging 11-Boom and collapse of the shadow banking system 12-Commodities boom Financial crisis in Pakistan and Reasons 1-One of the immediate causes is Political instability due to Musharaf’s position as president, delay in restoring judiciary and resultantly withdrawal of PML (N) from the alliance leaving behind ‘dead’ ministry of finance. In contrast the present government is not showing strong will to cope with the situation. Though some Positive Measures. To end Load Shedding till 14th August, 2009, Benazir income Scheme programmed, Distribution of Land in Sindh, tight Tariff System against luxury items 2-Suicide attacks in the industrial cities-fear among people, disinvestment and maximum outflow of capital, especially in Dubai stock exchange crash. 3-Foreign investment in 2007 was $ 700,63...
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...2013 ACKNOWLEDGEMENT All praise to Allah, the Beneficent, the merciful, and respect for His Prophet “Peace Be upon Him” who made us recognize our creator. I am also thankful to all the staff members of MCB who provided me a friendly and knowledgeable environment through which I have learned a lot. DEDICATION | My all internship work is dedicated to all the staff members of MCB U.P MORE BRANCH (1421) Karachi. * Shahvaiz Siddiqui (Operation Manager) * Farhana Ansari (Supervisor) * Mohsin Saleem, Shazia Asif, Mohammad Muslim (General banking officer) * Shoaib Damri (Clearing) * Saad. Faraz (Customer Service Officer) They are too much supportive and teach me how to learn a practical life. They always give me different tasks which bring more knowledge to me and guide me how to accomplish these tasks. EXECUTIVE SUMMARY MCB bank limited has a solid foundation over 60 years in Pakistan with a network of over 1150 branches over 850 of which are automated branches, over 350 MCB ATMs in 41 cities nationwide and a network of over 12 bank on the MNET ATM switch. MCB operation continued to be streamlined with focus on rationalization of expenses, re-alignment of back-end processing to increase productivity, enhancement of customer service standard, process efficiency and controls. The bank has taken the lead in introducing the innovative concept of centralizing trade services in the country by providing centralized foreign trade services to branches...
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...analysis of Pakistan Submitted by Mohd. Asif ROLL NUMBER – AUD0637 BACHELOR OF BUSINESS ADMINISTRATION- 3C AMITY UNIVERSITY DUBAI CAMPUS MARCH 2013 ACKNOWLEDGEMENTS I wish to thank Mrs.Priyanka Chandanani for her advice and guidance. I appreciate their effort of providing necessary information regarding the paper & also for their support in completing the paper. I would also like to express my gratitude towards my parents for their encouragement and support. Lastly, I would like to extend my sincere thanks to all those at Amity University Dubai who have willingly helped me out with their abilities. PEST Analysis of Pakistan Political If we observe the political situation of Pakistan, much of the politics is based on different ethnic groups. It’s fair to say that the current political situation of Pakistan is in dire need of substantial changes if we compare it to the political systems of leading nations in the world. Pakistan has a democratically elected government where the ruling party is Pakistan People’s...
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...Porter Five forces looks at five key areas namely threat of new entry, power of buyers, power of suppliers, threat of substitutes, and competitive rivalry. Threat of New Entry • As government of Pakistan is showing liberalism in case of telecommunication sector and opened its policies to award new licensees to new mobile service providers so threat of new entry is high. • As set-up cost is in billions of dollars so in this case threat of new entry is low, but there are companies who are working to achieve licenses and approaching PTA to know terms and conditions for this. • As for this business companies need a well established distributions and franchises network so threat of new entrant is high in this case. Bargaining Power of Buyers • Power of buyer is high in telecommunication sector. There are six market players and players are offering different packages at different prices and a situation of price war is running. Buyers have a power to buy any package which is suited to them. • Cost of switching from one company package to other company package is low. Hence, power of buyers is high. Bargaining Power of Suppliers • The power of suppliers is low in case of telecommunication sector. • But the fact is that numbers of suppliers are few in the market but they are competing in the market to make agreements with mobile service providers. Threat of Substitute Products • Government also gave so many land lines and wireless local loop licenses to different...
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...55-65 (1417 A.H / 1997 A.D) Hamid Zangeneh and Ahmad Salam Central Banking in an Interest Free Banking System J.KAU: Islamic Economics, Vol. 5 (1993), pp. 25-35 Comments: RODNEY WILSON Professor of Economics Department of Economics University of Durham U.K. The article by Hamid Zangeneh and Ahmad Salam is a welcome departure in the Islamic finance literature, as relatively little has been written about the role of central banks in an Islamic financial system. The authors review the major functions of central banks, and then discuss how monetary tools need to be adapted in an Islamic economy, these including discount rates, open market operations, reserve ratios, refinancing ratios, credit controls, moral persuasion, profit sharing ratios and exchange rates. The authors cite an earlier paper by Mohammad Nejatullah Siddiqi who has probably given more consideration to the issues than anyone else. (1) One of Siddiqi's main concerns is the central bank's role as lender of the last resort, as it is ultimately responsible for safeguarding the interests of depositors, whether the system is conventional or Islamic, although arguably in an Islamic economy it is not so much a matter of consumer rights, but rather of moral responsibility to Muslim depositors who have entrusted their savings to an Islamic bank in good faith. Although the authors quote Mohammad Uzair when discussing the tools of central banking, (2) Sidjqi has looked at these matters more recently, at least in a summary...
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...The Pakistan Development Review 41:4 Part I (Winter 2002) pp. 319–332 The Presidential Address Regulatory Framework in Pakistan A. R. KEMAL* I. INTRODUCTIION Until the mid-1970s, governments all over the world (especially in the developing economies), intervened in markets on the pretext of market failure arising from externalities, decreasing cost industries, and equity considerations for maximising social welfare. In Pakistan, where the private sector has played a dominant role, except probably for the 1970s,1 private sector activities have all along been regulated through various types of controls and regulations on entry and exit, prices, credit, foreign exchange, imports, investments, etc. These regulations were imposed with a view to ensuring that private sector allocations were in accordance with the national priorities [see Pakistan (1983-84)]. However, the objectives were rarely realised and, in fact, these regulations have been responsible for red-tapism and corruption. On the grounds of government failure, privatisation and deregulation policies are being practised almost everywhere in the hope that they would help in efficient allocation of resources and higher levels of productivity. Considerable regulatory reforms have also been effected in Pakistan over the last two decades. Investment and import licensing have been withdrawn, most of the foreign exchange restrictions have been removed, capital market regulations have been simplified, price controls have...
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...investment project and exogenous financing, furthermore, the customers decide whether consumption or saving, moreover, the financial intermediaries finance the fund in which approach from savers to borrowers. The well financial system can perfect the effect of information, enforcement and transaction cost on the saving rate, investment decision and technological innovation, and steady state growth rate. Financial market channel the fund to investment opportunities to get the profit, so if the financial system cannot work well, the economic growth also more or less affected. The essay mainly gives a brief introduction on the points of financial development and economic growth based on the area of Chinese. The essay mainly talks about the theories relate to the relationship of financial development and economic growth, the determining elements to accelerate the financial development, reform in financial sector in China, and the positive relationship between financial development...
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...Preliminary Draft February 20, 2010 THE GLOBAL ECONOMIC CRISIS AND SOUTH ASIA By Dr. Akmal Hussain, Distinguished Professor, Beaconhouse National University INTRODUCTION What began as a financial crisis in 2008 rapidly metastasized into a global economic crisis that pushed the world economy into the deepest recession since the Great Depression of the 1930s. In this paper we will examine the origins and nature of this crisis in the context of the dynamics of world capitalism, indicate the policy challenges in the process of recovery and analyze its impact on South Asia. I. STRUCTURAL CHANGE AND FRAGILITY OF THE FINANCIAL SPHERE In the process of its growth the world economy has undergone a structural change in the post war period in terms of two important features: (i) The dominant form of the production unit of goods and services that emerged in the post war period was the large multinational corporation (MNC) in contrast to the large national corporation in the late 19th century and the small firm in the late 18th century.1 The MNCs were not only able to sell goods and services on a global scale but were able to achieve internationalization in their production processes, such that different components of a particular good could be manufactured in their facilities in different countries to take advantage of country specific resource 1 For a more detailed analysis of Growth and Structural Change in the Global Economy since the Industrial...
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...influence services quality in the Islamic banking system in Malaysia Student name: Tai Yen Ying Doris Student ID: Scm-014993 Course: Bachelor In Business Management Content Pages 1. Cover pages 1 2. Content 2 3. Abstract 3 4. 1.0 Introduction 3 5. 1.1 Research Background 3 6. 1.2 Problem statement 5 7. 1.3 Research Question 5 8. 1.4 Research objectives 6 9. 1.5 Significance of study 6 10. 1.6 Scope of study 7 11. 1.7 Dissertation Outline 8 12. 2.1 Introduction 8 13. 2.2 Defining topic 9 14. 2.3 Defining element in the framework 15. 2.3.1 Customer satisfaction 12 16. 2.3.2 Customer loyalty 14 17. 2.3.3 Customer perception 15 18. 2.3.4 Switching cost 16 19. 2.4 Theories 17 20. 2.5 Proposed Framework 19 21. 3.1 Introduction 20 22. 3.2 Research hypothesis 20 23. 3.3Research Equation 20 24. 3.4 Operational Definition 21 25. 3.5 Measurement 22 26. 3.6 Data collection 25 27. 3.7 Data analysis 27 28. Conclusion 28 29. References 29 Abstract This research is to determine the factors explaining the service quality in the Islamic banking system in Malaysia. Data collection is...
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...common people. Building strong ICT infrastructure is the pre-requisite for making Bangladesh a digital one. For this, we need to focus on the following relevant issues assessing the harsh reality that hinders our development in this context. Latest statistics reveal that Bangladesh faces a power deficit of up to 200 MW against a demand of 5000 MW daily. It may be noted that for proper ICT development an uninterrupted power supply is a must. For the ICT development Internet users of the country must be increased. In this case our position is the worst one among the South Asian countries. From different sources, it has been learnt that, English literacy rate in Bangladesh is less than one percent. Whereas, English literacy rates in India and Pakistan are 60% and 20% respectively. There is a strong correlation between English literacy and ICT development in the present context of globalization. In the arena of ICT English has become the Lingua-Franca. Though the above accounts seem to be frustrating one, these can be easily overcome within a reasonable span of time if we can establish good governance in the country....
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...aspirants to attempt descriptive English properly. We give a complete framework covering each and every topic of descriptive English paper. The book comprises techniques to attempt précis and essays, contains types of letters, sample letters & even model tests for your practice. This will provide the aspirants with basic knowledge of general rules of attempting English language descriptive paper, guiding them in learning English to an extent to which they attempt confident use of English. The book is aimed to provide you the content, sufficient enough, to attempt the descriptive English paper efficiently and may lead you to success in your examination. For this purpose all the current topics are being covered here. This book also intends to provide the competitors a conceptual base through the explanations of the questions asked. Any modification or error shall be entertained and we will try to incorporate it in our next issue. DESCRIPTIVE ENGLISH DESCRIPTIVE ENGLISH 4 Mahendra Publication Pvt. Ltd. www.mahendrapublication.org TOPICS CONTENTS Pg. No. 6 8 16 21 31 31 32 33 34 35 35 37 39 41 41 42 43 44 45 47 48 49 50 51 55 56 57 58 59 60 62 62 64 65 67 67 69 69 71 71 72 What is Descriptive English Precis Writing Letter Writing Essay Writing & Sample Essays ECONOMY Brain Drain CSR Rise in Oil Prices Union...
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...Introduction To Public Administration–MGT111 VU LESSON 01 INTRODUCTION 1. 2. 3. 4. 5. 6. 7. The course on Public Administration/Management has following objectives: Understand the concept of public administration/ management/organization Understand the evolution of the concept of public administration and its importance Understand the role of government Understand the role and core functions of public manager Understand the structure of government /organizations Create understanding about the skills required by the public manager in imparting duties Understand the changing role of government and role of public managers. Importance of Course: The course on public administration/management is important as every citizen must understand the functioning of government. Besides, whether one works in private or public organization, or one is doing ones own business or whatever the profession, this course is useful as it helps understand organizations and their functioning. It also helps us understand the environment in which we are working. Introduction: definitions, concepts & setting At the end of lecture the students should be able to understanding: • The meaning of PA • The practice of public administration (PA) • Public administration as a subject of study • Definition of Public administration • Public administration, democracy and rights of citizens The Meaning The word ‘administration’ has been derived from Latin words ‘ad’ = to and ‘ministiare’ = serve and ‘Public’ =people...
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...Islamic Banking: Answers to Some Frequently Asked Questions 9 ISLAMIC DEVELOPMENT BANK ISLAMIC RESEARCH AND TRAINING INSTITUTE ISLAMIC BANKING: ANSWERS TO SOME FREQUENTLY ASKED QUESTIONS Mabid Ali Al-Jarhi and Munawar Iqbal Occasional Paper No.4 1422H 2001 Mabid Al-Jarhi and Munawar Iqbal 10 Islamic Banking: Answers to Some Frequently Asked Questions 11Mabid Al-Jarhi and Munawar Iqbal 12 Islamic Banking: Answers to Some Frequently Asked Questions 13 FOREWORD In the last quarter of a century, there has been a great interest in the Islamic banking system both at private and public levels. There is an earnest and widespread desire to understand the system. Academicians, bankers and general public, all, have some genuine questions and concerns. Policy makers in the monetary and financial sectors of the IDB member countries have also often asked the Islamic Research and Training Institute (IRTI) some basic questions of theoretical and practical importance about the elimination of interest from the national economies of Muslim countries and the transformation of the prevailing conventional system to an Islamic one. Some of these questions reflect a desire to understand the basic concepts of Islamic finance while others relate to the creation of an enabling environment through macroeconomic reform and structural adjustments that are needed to establish the Islamic financial system and the complications that arise when an effort is made to bring about the transformation...
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...carrying 600 marks in all but not more than 200 marks from a single group. 2. A candidate shall answer the language papers in the language concerned. The question paper in Islamiat is to be answered in Urdu or English. All other papers must be answered in English. Violation of this instruction shall incur cancellation of the concerned paper(s) and consequently award of Zero. 3. The compulsory and optional subjects and maximum marks fixed for each subject shall be as below: Sr. No. 1 2 3 COMPULSORY SUBJECTS Subjects English (Précis & Composition) English Essay General Knowledge (a) Current Affairs 100 (b) Every Day Science 100 (c) Pakistan Affairs 100 Islamiat Viva Voce Total Maximum Marks 100 100 300 100 300 900 600 120 4 5 Qualifying marks in the aggregate of written papers: Qualifying marks in the Viva Voce: The non-Muslim candidates will have the option to take Islamiat as a compulsory subject or otherwise Pakistan Affairs (General Knowledge PaperIII) will be treated of 200 marks and counted in lieu of Islamiat. A candidate who fails to appear in any of the compulsory subject will not be allowed to appear in the remaining papers of the examination. No candidate shall be summoned for Viva voce test unless he has obtained at least 33 percent marks in each optional subject, 40% in the each compulsory subject and 50% marks in the aggregate of the written portion of the Examination. No candidate shall be considered to have qualified the examination unless...
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