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38950343-Faysal-Bank-Internship-Report

38950343-Faysal-Bank-Internship-Report

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Published by: imran_greenplus on Apr 12, 2011
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03/12/2014

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CHAPTER # 1
Introduction of theOrganization
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1. INTRODUCTION
Faysal Bank started operations in Pakistan in 1987, first as a branch set-up of Faysal IslamicBank of Bahrain and then in 1995 as a locally incorporate Pakistani bank under the presentname of Faysal Bank Limited. On January 1, 2002, Al Faysal Investment Bank Limited,another group entity in Pakistan, merged into Faysal Bank Limited which resulted in a larger,stronger and much more versatile institution. In fact it has the highest share capital amongstprivate banks in Pakistan and is amongst the largest in terms of equity. Faysal Bank Limitedis a full service banking institution offering consumer, corporate and investment bankingfacilities to its customers.The Bank’s widespread and growing network of branches in the four provinces of the countryand Azad Kashmir, together with its corporate offices in major cities, provides timely anddifferentiated services in an effective manner. The strength and stability of Faysal Bank Limited is evident through the Credit Rating assigned by JCR-VIS Credit Rating CompanyLimited of “AA” (Double A) for long to medium term and “A-1+” (A One Plus) for shortterm.The majority share holding of Faysal Bank Limited is held by Ithmaar Bank B.S.C aninvestment bank listed in Bahrain. The remaining shareholders comprise of general public,NIT and other Pakistani institutions.
1.1 VISION
“Excellence in all that we do.”
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1.2 MISSION
“Achieve leadership in providing financial services in chosen markets through innovation.”
1.3 Group Information
Ithmaar Bank B.S.C. is licensed by the Central Bank of Bahrain and listed on the BahrainStock Exchange (ITHMR). It has a paid-up capital of US$360 million, total equity of US$1.1billion and is a full investment bank with its direct business covering the Middle East andNorth Africa (MENA) region, as well as South Asia, Asia-Pacific and Europe. Besidesholding significant investments in the banking, financial services and real estate sectors indifferent markets, the main activities of the Bank include underwriting (equity and other financings), private equity (structuring, participation and portfolio management), Islamicfinancing, private banking, and advisory services covering project financing, investments,capital markets and mergers & acquisitions.
1.4 Capital and Ownership
The majority share holding of Faysal Bank Limited is owned by companies of the Dar AlMaal Al Islami Trust (DMI) including Shamil Bank of Bahrain E.C. The remainingshareholders comprise of the general public, NIT and other Pakistani institutions. The Bank’sshares are quoted on the Karachi and Lahore Stock Exchanges.
1.5 Conformity to Islamic Sharia’a
The Holy Quran outlines for Muslims a complete code of life for dealing individually or collectively. This is future amplified by saying and practice of Holy Profit(May be upon him)From these guidelines , an Islamic economic system can be elaborated upon, aimed atcreating a socially, economically and politically viable and just environment supporting theuniversal well being of humanity
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