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Brand Management (BRAND AUDIT) BankIslami

Brand Management (BRAND AUDIT) BankIslami

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Published by Bilawal Shabbir

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Published by: Bilawal Shabbir on Jan 19, 2012
Copyright:Attribution Non-commercial

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BankIslami Pakistan LimitedType: Public Limited (BIPL)Industry: Islamic bankingHeadquarters : Principal Office, Karachi PakistanKey people: Hasan A Bilgrami (CEO)Products: Retail Banking, Consumer Banking, InvestmentBanking, Trade Financing etc.
 
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Introduction to banking
Banks are very useful for utilization of country¶s resources and for growth of economy. Banks help in capital information by deposit surplus from publicand advance these surplus in form of loans to businessman and industrialists,agriculturists under different scheme.There are different views about origin of word banking. Some says it deceivedfrom an Italian word ³banque´ means bench. According to other view itderived from German work ³bane´ means a joint stock firm.According to Growther, there are three ancestor of banker i.e.The Mechanls the gold smith, money lenders.In short bank is a financial institution at lower rate of interest and give athigher rate of interest to those who need them.
Islamic banking
Islamic banking (or participant banking) (Arabic: ) isbanking or banking activity that is consistent with the principles of Islamiclaw (Sharia) and its practical application through the development of Islamiceconomics. Sharia prohibits the fixed or floating payment or acceptance of specific interest or fees (known as Riba or usury) for loans of money.Investing in businesses that provide goods or services considered contrary toIslamic principles is also Haraam (forbidden). While these principles mayhave been applied to historical Islamic economies, it is only in the late 20thcentury that a number of Islamic banks were formed to apply these principlesto private or semi-private commercial institutions within the Muslimcommunity
 
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HISTORY OF BANKISLAMIBankIslami- The Idea:
The epochal idea of BankIslami was conceptualized by Jahangir Siddiqui & CompanyLimited and DCD Group in late 2003. Mr. Hasan A. Bilgrami was appointed as Adviser tothe sponsors on March 16, 2004 to formalize the idea. He presented the concept paper of BankIslami to sponsors on March 24, 2004. A detailed business plan was then preparedand a formal application was submitted to the State Bank of Pakistan on May 26, 2004. OnSeptember 26, 2005, Dubai Bank joined the Sponsors and became one of the foundingshareholders of BankIslami by investing 18.75% in the total Capital.
Accredition by State Bank of Pakistan:
The State Bank of Pakistan issued a No Objection Certificate in no time on August 19, 2004and BankIslami Pakistan Limited, the second full-fledge Islamic Commercial Bank inPakistan, was incorporated on October 18, 2004 in Pakistan.BankIslami Pakistan Limited was the first Bank to receive the Islamic Banking licenseunder the Islamic Banking policy of 2003 on March 31, 2005. The Bank envisioned to focusprimarily on Wealth Management as the core area of business in addition to Shariahcompliant Retail Banking products, Proprietary and Third party products, and Integratedfinancial planning services.
Initial Public Offering of BankIslami:
BankIslami Pakistan Limited made a public offering of Rs. 400 Million, at par, from 6th to8th March. This was the first primary issue by a Bank in over a decade in Pakistan. TheInitial public offering (IPO) of BankIslami received overwhelming response from thegeneral public as the applications received were 9 times higher than offered, fetchingnearly Rs. 3.5 Billion, against the demand of Rs. 400 Million.

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