Pakistan has witnessed many award ceremonies related to different industries in the country. This is the first time an award function has been held in the Banking sector to acknowledge the contribution of the banks and their services in the national development. The function took place on Friday, may 13th, 2016 at Mohatta Palace. This sort of recognition and celebration is introduced by Dawn Media Group, in association with the Institute of Bankers Pakistan (IBP) and A. F. Ferguson & Co., a member of PwC Global Network.
There were around 8 categories to win awards in and about 28 banks participated in the competition. Former Governor of State Bank of Pakistan lead the jury to make sure that the selection is conducted fairly and only the deserving banks win.
Top 6 banks of Pakistan turned out to be the winners in banking awards held for the very first time in Pakistan. HBL received two awards for the best bank for small business and agriculture and the best Environmental, Social and Governance (ESG) Bank. UBL bagged an award for the best bank and it was well deserved because lately it has been contributing quite a lot to national development, utilizing its resources productively along with managing its clients and franchises well.
Like HBL, Tameer Micro Fianance Bank also received two awards for Bank the Unbanked and Best Microfinance Bank. Tameers performance is commendable as it has been reaching out to the urban areas where people have low income. It has been declared as the best all rounder micro finance bank. Meezan Bank Ltd also secured the Best Islamic Bank award. This bank has a huge contribution in improving and taking forward Islamic banking in Pakistan for raising awareness amongst people about the Islamic way of handling finances.
MCB Bank got an award for Best Bank for Corporate Finance and Capital Market Development. While the award was being given away, it was mentioned that the bank had excelled in promoting capital market development, deepening secondary markets, and providing advisory services to optimize the efficient use of industrial and commercial assets.
Bank Alfalah bagged the Best Customer Franchise Award. The bank was appreciated with remarks that it is the bank with most efficient services delivery and attention to customer requirement. SBP Governor Ashraf Mahmood Wathra said, The award categories selected are true manifestation of our vision for the banking industry highlighting inclusion, focus on SME, microfinance, corporate finance and capital market development, customer franchise, CSR and last but not the least Islamic banking,
All in all, this initiative taken by IBP will prove to be very motivating for all the banks, especially the ones who competed this year and plan to be a part of this healthy competition next year, as this will benefit the public of Pakistan bringing positive changes in the GDP of Pakistan.
Author: Muneel Ali
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