SECP issues regulatory directive for life insurers

ISLAMABAD: November 11: The Securities and Exchange Commission of Pakistan (SECP) has issued a regulatory directive to the life insurers to file their products in accordance with the standardized submission requirements. The existing insurance regulatory framework describes the broad type of product-related information to be submitted at the time of registration of a life insurer or at the time of introduction of new products or amendments to existing products.

WORKERS’ REMITTANCES RISE OVER 6%, SBP

Overseas Pakistani workers remitted an amount of $5275.61 million in the first four months (July – October) of the current fiscal year 2013‐14 (FY14), showing a growth of 6.27 percent when compared with $4964.21 million received during the same period of last fiscal year (July- October FY13).

The inflow of remittances in July- October FY14 from Saudi Arabia, UAE, USA, UK, other GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $1459.63 million, $1060.93 million, $850.05 million, $807.63 million, $604.46 million and $149.30 million respectively as compared with the inflow of $1308.61 million, $1046.83 million, $841.28 million, $697.33 million, $559.51 million and $134.53 million respectively in July- October FY13. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first four months of current fiscal year amounted to $343.61 million as against $376.12 million received in the first four months of last fiscal year.

In October 2013, the inflow of remittances from Saudi Arabia, UAE, USA, UK, other GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $353.46 million, $276.48 million, $225.25 million, $197.08 million, $157.32 million and $40.11 million respectively as compared with the inflow of $347.52 million, $293.74 million, $217.56 million, $197.18 million, $163.37 million and $37.48 million respectively in October, 2012. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during October 2013 amounted to $97.97 million

Old design banknotes of Rs 50 & Rs 1000 to phase out

                The State Bank of Pakistan has decided to phase out the old design banknote of Rs. 50 & Rs 1000 denominations. The commercial/microfinance banks will stop issuance of old design banknote of Rs. 50 & Rs 1000 denominations with effect from 1^st November, 2013 (Friday). However these banknotes in circulation will remain legal tender till further order. The commercial/microfinance banks have been advised to accept these banknotes from the public by exchanging the same with banknotes and coins of all other denominations. Banks shall start surrendering the above old design banknotes in suitable lots to the offices of SBP Banking Services Corporation in due course. 

SBP launches Livestock Insurance Scheme for borrowers

The State Bank of Pakistan, in collaboration with SECP, banks, insurance companies and provincial livestock & dairy departments, has developed a framework for Livestock Insurance for borrowers. It is aimed at improving access to finance to the livestock & dairy sector by mitigating risk of loss of livestock due to disease, natural calamities & accidents.

The livestock sector contributes 55% in Agriculture GDP and 11.4% to the overall GDP. It is an important tool for poverty alleviation and for raising the living standards of the poor especially in rural areas. However, banks’ financing to Livestock/Dairy & meat is only Rs 56 billion which constitutes 17% of total agri. lending of Rs. 336 billion in 2012-13. One of the major reasons for modest off take of credit to this sector is the limited availability of appropriate insurance products or other risk mitigation tools.

National Bank of Pakistan win award

Karachi : CFA Association of Pakistan has declared NBP the winner for the “Transaction of the Year-2012” for Sell-Side Advisory forthe sale of shares of Agritech Limited by AzgardNine Limited (ANL). The CFA Association of Pakistan’s panel of independent judges, based their decision on the innovativeness of structure, suitability to customer’s requirements, transaction size, width of distribution and the transaction’s impact on Pakistan’s financial markets and determined NBPasa winner.

SECP facilitates companies on the election of directors

ISLAMABAD, October 7: The election of directors of the companies is held in general meetings, on completion of the term of office of directors after every three years as laid down in Sections 178 and 180 of the 1984 Companies Ordinance.

ETIHAD AIRWAYS TO LAUNCH FLIGHTS TO LOS ANGELES

Karachi: October 8, 2013 – Etihad Airways, the national airline of the United Arab Emirates (UAE), today announced the launch of direct flights to Los Angeles, California.

The expansion of its US operation will see the airline commence non-stop daily flights between its Abu Dhabi home-base (AUH) and Los Angeles (LAX) from June 1, 2014, subject to regulatory approvals. The Californian city will be Etihad Airways’ fourth US destination, joining Chicago, New York and Washington D.C, and will see the airline provide 28 return flights each week between the UAE and US. The announcement was made by James Hogan, Etihad Airways’ President and Chief Executive Officer in Los Angeles today, Monday, October 7.

Pakistan renowned bank HBL struck a deal with 2 big FMCG companies to provide credit line to their dealers. This deal will help HBL to improve private off take. HBL's Abid Sattar Head of global operations and Munib Shah GM business policy jointly issue a policy in this regard. In this letter staff of HBL informed that the bank in a deal with Nestle Pakistan and Unilever Pakistan for the Dealer Finance scheme. This Scheme was introduced in March 9, 2011 only for the Point of sales. HBL send a 29 page letter with procedures to all branch managers, and relevant officers and departments. Dealer Finance Facility is a controlled overdraft facility which is only to be utilized for financing of purchases by Nestle and Unilever. Over draft shall only be used to make payments of designated accounts of Nestle and Unilever collection accounts operated by HBL. Nestle Pakistan dealer could obtain up to PKR 100 million and Unilever Pakistan dealers allow up PKR 75 million. Opening of these overdraft accounts only allowed after fulfilling KCY and AMI laws of central bank. An analyst says this will improve HBL private credit with secure recovery. This will also improve the sales of both companies.

Pakistan renowned bank HBL struck a deal with 2 big FMCG companies to provide credit line to their dealers. This deal will help HBL to improve private off take.  HBL's Abid Sattar Head of global operations and Munib Shah GM business policy jointly issue a policy in this regard.

Fresh banknotes to be made available before Eid-ul-Azha

The State Bank of Pakistan will issue fresh banknotes of all denominations to general public during the upcoming Eid-ul-Azha season. Issuance of fresh banknotes from SBP BSC counters and designated branches of commercial banks will commence with immediate effect and continue till the last working day before Eid-ul-Azha. Fresh notes of any denomination can be obtained from 16 field offices of the SBP BSC as well as designated branches of the commercial banks across the country against exchange value. 

Eletronic Payment System and Mobile Banking

More than 300 ATMs were installed and dozens of bank branches added to the online branch network in the country in the fourth quarter of FY13. According to Payment Systems Review of 4^th Quarter (April to June) FY13 released by the State Bank of Pakistan, the installation of 308 ATMs brought the total number to 6,757. Altogether, 67 more bank branches were added to the online branch network which makes a total of 10,013 branches that are now offering RTOB services out of 10,581 total bank branches across the country.

The Review said that, compared with the preceding quarter, number of plastic cards (credit cards, debit cards, ATM only cards, smart cards, Islamic credit cards) issued to customers increased by 2.53 percent in the fourth quarter of FY13, thus bringing the total number of plastic cards issued to 22.32 million. In comparison with other plastic cards, ATM Only Cards shown the highest growth rate of about 4.56 percent, which has raised the total number of ATM Only Cards issued so far to 962 thousand, although debit cards have the highest percentage share in overall plastic cards which is more than 90 percent. Transactions through debit cards also increased both in volume and value.

According to the Review, the volume of overall e-banking transactions during the quarter also depicted a growth of 6.42 percent which is equal to 87.49 million transactions. Of all the e-banking transactions, mobile transactions showed the highest percentage increase as compared to the previous quarter of current fiscal year. These transactions increased by 18.05 percent in terms of volume reaching to 1.32 million as compared to 1.12 million in the preceding quarter. The value of mobile transactions again showed the highest percentage increase as compared to the previous quarter as the value increased by 34.35 percent reaching to Rs. 9.9 billion as compared to Rs. 7.3 billion in the preceding quarter.

The Review said that in terms of volume of overall e-banking transactions, ATM transactions have a major share of 63.70 percent and average value per transaction stands at Rs. 10,007. In comparison with the number of transactions reported in the third quarter of the current fiscal year, the overall volume of ATM transactions increased by 8.00 percent and the value increased by 8.02 percent. During the quarter 559 more Point of Sale machines were installed by various banks across the country.

During this quarter, the recorded volume and value of large value payments through RTGS was 134,738 and Rs.41.72 trillion respectively. This showed a 11.02 percent increase in the volume and 5.88 percent in the value as compared to the figures reported in the third quarter of current fiscal year. The major portion for the increased number of overall PRISM transactions in this quarter was contributed by IBFT which increased by 11.49 in volume percent and 23.63 percent in value. Moreover, IBFT has largest share in overall PRISM transactions in terms of volume while securities transactions has highest share in terms of value which are 78.70 percent and 60.33 percent respectively.

SECP starts 73 show-cause proceedings against CEOs, directors and auditors

ISLAMABAD, September 17: As part of its mandate to safeguard the investors’ interest in both listed and unlisted corporate sector, the Enforcement Department  of the SECP in July and August initiated 73 show-cause proceedings against chief executives, directors and auditors in view of the breaches of statutory requirements related to takeover regulations, issuance of auditors’ reports, powers of directors, holding and proceedings of annual general meeting, direction to hold over-due annual general meetings, investment in associated companies and undertakings, reporting of facts, employees’ provident funds, circulation of financial statements, disclosure of directors’ interests, treatment of surplus on revaluation of fixed assets, and security deposits.

Effective corporate governance is bridge between owners, stakeholders

 

KARACHI, September 17: Corporate Governance offers a practical solution to the challenge of a good relationship between owners and other stakeholders which becomes more complex when a business expands.

The corporate governance system puts in place the policies and procedures to manage effective organizational setup that defines roles and responsibilities.

UBL Bank (Tanzania) Limited Inaugurated by H.E Dr. Mohamed Gharib Bilal

The Vice President of Tanzania, His Excellency Dr. Mohamed Gharib Bilal yesterday inaugurated UBL Bank (Tanzania) Limited (UBTL), in an impressive ceremony at the Bank’s premises, located in the heart of the city centre of Dar es Salaam. The launch was attended by a wide cross section of dignitaries & luminaries from different walks of life including HE, the High Commissioner of Pakistan, Mr. Tajammul Altaf, Mr. A Kobello, Director, Bank of Tanzania, diplomats, CEOs, and senior officials of the UBL Group, including Sir Mohammed Anwar Pervez, OBE HPk, Deputy Chairman of the UBL Board of Directors  & Chairman Bestway Group, Mr. Atif R. Bokhari, UBL’s President & Chairman of the Board of  Directors of UBTL, Mr. Zameer Choudrey, CEO Bestway Group & Director United Bank Limited, Mr. Wajahat Husain Head of UBL International & Director UBTL, and Mr. Rayomond Kotwal, UBL CFO & Director UBTL.
Over the last five decades, UBL’s global network has grown to over 1,300 branches, across UAE, Bahrain, Qatar, Yemen, USA and Pakistan.

SECP revising NBF sector regulatory framework

ISLAMABAD, September 9: Keeping in view the inherent risks in the present composition of the financial sector, the Securities and Exchange Commission of Pakistan (SECP) is the process of revising the NBF sector to reform the entire financial sector.

Mr. Imtiaz Haider, the SECP Commissioner for Specialized Companies Division, has said that the roadmap was rolled out in the form of a report in March 2013. In the said report, the SECP suggested to develop an alternative financial system by way of promoting non-bank financial (NBF) sector to diversify the inherent systemic risk and provide different asset classes to promote savings as well as meet the specific needs of participants. Other recommendations included some macro-level suggestions regarding taxation regime, encouraging long-term savings and channeling these savings to under-served segments.

SECP registered 275 new companies during August

SECP registered 275 new companies and licensed 3 nonprofits in August

ISLAMABAD, September 6: The Securities and Exchange Commission of Pakistan (SECP) registered 275 new limited liability companies in August, bringing the total corporate portfolio to 62,258 companies.

In the corresponding month, last year, 274 companies were registered. In addition to the companies registered, the SECP issued licenses to 3 non-profit associations under Section 42 of the 1984 Companies Ordinance. 

WITHDRAW IMPOSITION OF ‘CAPACITY TAX’ ON THE BEVERAGE INDUSTRY

CCP RECOMMENDS TO GOVERNMENT TO WITHDRAW IMPOSITION OF ‘CAPACITY TAX’ ON THE BEVERAGE INDUSTRY

ISLAMABAD, 04 SEPTEMBER 2013: The Competition Commission of Pakistan (CCP) has issued a Policy Note to the government recommending it to withdraw the imposition of ‘capacity tax’ on the beverage industry.

Soon after Dr. Joseph Wilson taking charge as Acting Chairman, the CCP became functional again and took notice of various news items raising concerns by the beverage industry on the imposition of Federal Excise Duty (FED) and Sales Tax, vide notification SRO No. 649(I)/2013 dated 9th July, 2013 on production/installed capacity instead of actual sales. 

Strategic Investors of TSML Appreciate NBP Efforts

Strategic Investors of TSML Appreciate NBP Efforts

KOREAN DELEGATION FROM AL-TUWARQI GROUP OF SAUDI ARABIA AND POSCO STEEL OF KOREA VISITED NBP HEAD OFFICE

Karachi: “At one stage the future of TSML was in doldrums but project was completed in time and commenced operation in January this year. This would have not been possible without the active support of National Bank of Pakistan. Now we are in the process of expanding our operations and one such project is use of local iron ore, for which testing has started today”, these were the opening remarks of Mr Zaigham Adil Rizvi, Country Head and Director projects Tuwairqi Steel Mills Limited (TSML) when has visited NBP Head Office along with his Korean joint venture partners, POSCO.

SECP deposits Rs2.368 billion in national exchequer

SECP deposits Rs2.368 billion in national exchequer

ISLAMABAD, August 30: The Securities and Exchange Commission of Pakistan (SECP) has deposited the accumulated surplus of Rs2.368 billion to the Federal Consolidated Fund (FCF). The money has been deposited in the federal government’s account with the State Bank.

Ishaq Dar Meeting With Bankers and Exchange Companies

The Finance Minister Senator Muhammad Ishaq Dar held a meeting with chief executives of local and foreign banks, corporate leaders, and representatives of Exchange Companies today at SBP Karachi. The Governor SBP was also present on the occasion. The Finance Minister said the focus of the present government was to secure financial discipline which had been diluted over the previous years, and focus on real economy which is agriculture and industry.  He was appreciative of the lower differential between the inter-bank and open market rates and urged the Exchange Companies to play their due role in maintaining stability in the market and curbing speculative sentiments.

NBP Customers to enjoy Branchless Banking services through UBank

Karachi, August 29, 2013: The strategic alliance between U Bank and National Bank of Pakistan will offer tremendous benefits to the clients. Though, the agreement signed between the two giants is aimed at offering ‘branchless banking’, being part of financial inclusion program, it will change the way people will perform banking transaction.

STATE BANK MUSEUM OPNE SATURDAYS AND SUNDAYS

The State Bank Museum & Art Gallery, Karachi will now remain open for public on Saturdays and Sundays also from 9.00 am to 5.00 pm from 31^st August, 2013.  However, the Museum will remain closed on Fridays. 

Museum was inaugurated on 1^st July, 2011. Museum timings were as per the office timings of the Bank, but due to high public demand State Bank of Pakistan has decided to open it on Saturdays and Sundays.

Dr. Joseph Wilson as Chairman CCP on Acting Charge basis

PML(N) government after almost 3 months in power fails to find any person to chair Competition Commission of Pakistan (CCP).  The Prime Minister of Pakistan has appointed Dr. Joseph Wilson as the Chairman of the Competition Commission of Pakistan (CCP) on acting charge basis with immediate effect and until further orders.

NBP Relase Halfyearly financial results

 

National Bank of Pakistan recorded after tax profit of Rs 6.0 billion with Earnings per share of Rs. 2.83. Pre-tax return on equity stands at 15.1% with pre-tax return on assets being 1.2%. This was announce by NBP management after the Board of Directors meeting. 

The Board of Directors of National Bank of Pakistan (NBP) in their meeting held on August 22, 2013 at the Head Office, Karachi approved the Financial Statements of the Bank for the six months period ended June 30, 2013.

Total operating revenues increased by Rs. 1,443 million or 4.6% from corresponding period last year. Non-interest income increased by an impressive 24%. Pre provision profit of the bank stood at Rs.15, 844 million which is higher by 5.5% from last year reported number. 

SECP forms Shariah Advisory Board

ISLAMABAD, August 23: The Securities and Exchange Commission of Pakistan (SECP) is pleased to announce the formation of the Shariah Advisory Board (SAB), which would be responsible to harmonize the Shariah interpretations and strengthen the regulatory and supervisory oversight of Islamic financial institutions (IFIs) and Islamic capital markets (ICMs) in Pakistan.  

ABL and ENGRO will announce financial statement

In next 2 days one bank and one big corporation will announce its results. Financial results of Allied Bank will be announced on August 21 and ENGRO will revile its financial statement on August 22, 2013. Stock market experts says both companies will show profits. 

Samsung Wins Five European Imaging and Sound Association Awards

 Karachi: August 15, 2013 – Samsung Electronics Co. Ltd, a global leader in digital media and digital convergence technologies, announced today that the European Imaging and Sound Association (EISA) has awarded the company five prestigious awards in the following categories:

Pakistan Stock Market Weekly Review

The KSE-100 Index gained 1.88%WoW to close at 23,673 points this week while average daily volumes recovered to 220.5mn shares after relatively subdued volumes last week. Key news flows this week included 1) tension between India and Pakistan escalated with exchange of fire over the border,

Pakistan Pay IMF Loan

Pakistan successfully paid the 18th Installment today under IMF/SBA facility amounting to SDR 95.8 million equivalent US$145.4 million.  State Bank of Pakistan  Spokesperson confirm this news to the media.

STATE BANK FULL FILL IMF CONDITION

STATE BANK IMPLEMENTS BALANCE OF PAYMENTS MANUAL (BPM6)

The Statistics and Data Warehouse Department of the State Bank of Pakistan has initiated transition towards disseminating the balance of payments of Pakistan on the basis of methodology set out in the 6th edition of the IMF’s Balance of Payment and International Investment position Manual (BPM6) beginning with July 2013.

Karachi Chamber of Commerce meeting with Etihad Airways

Mr. Mohammad Haroon Agar, President Karachi Chamber of Commerce presents a commemorative plaque to Mr. Amer Khan, Area General Manager of Etihad Airways during their customary meeting at the KCCI Office.

Overseas Pakistanis remit $1.4 billion in July

Overseas Pakistanis remitted an amount of $1,404.39 million in July 2013 of the current fiscal year (FY14), showing an impressive growth of 16.57 percent or $199.68 million compared with $1,204.71 million received during the same month of the last fiscal year (FY13).

FLAG HOISTING NBP HEAD OFFICE AT THE INDEPENDENCE DAY

Karachi:  In commemoration of Pakistan Independence Day, a flag hoisting ceremony was held at 3^rd floor, NBP Head Office Building in consonance with playing of National Anthem and flag hoisting at  Islamabad/throughout the country. NBP executives and employees prayed for the country and countrymen. NBP Building was illuminated for last few days on the occasion of Independence Day. 

Transforming Pakistan into Developed State

   

 

Mr. Kazi Abdul Muktadir, Deputy Governor, State Bank of Pakistan has said that we need to overcome our challenges and follow the guidance of our founding fathers in transforming this country into a truly developed state as envisioned by our Quaid.

High court suspended session court order in SECP

ISLAMABAD, August 6:  The Islamabad High Court (IHC) has suspended the impugned order of a session court that ordered registration of FIR against senior officials of the Securities and Exchange Commission of Pakistan (SECP), stating that no cognizable offence has been occurred. 

Higher interest rates ahead can stall Market rerating

Driven by higher GST, higher food prices and increase in petroleum product prices, CPI has jumped by 2.0%MoM to 8.3% in Jul'13. This is the highest increase in headline inflation since Sep'12 (+8.8%YoY). At the same time, core (trimmed) inflation has also jumped to 7.8%YoY in Ju'13 vs. 6.8%YoY in the previous month. 

HBL staff to obtain Educational allowance

Habib Bank human resource department has started guiding their staff about the procedure of obtaining educational allowance for their children. As per agreement between HBL management and staff CBA and officer unions, Bank will provide some amount for the children who are studding on collage or school level.

This Allowance is sanctioned on submission of Photocopies of latest Marks Sheets, Admission Receipts Or Monthly Fees Receipts of their children on yearly basis.
The Academic Session of all the institutions for the year 2012-2013 has completed and  the Academic Session for the year 2013-2014 is about to commence.
You are  therefore, requested to advise all concerned staff to submit fresh Admission Receipts / Marks Sheets / Monthly Performance Reports / Fees Payment Receipts etc. of their  children who are still receiving education, along with enclosed forrn to continue their education allowance for the next Academic Session.

NBP the largest and the most efficient lender to farmer

Among all the financial institutions involved in lending to farmers National Bank of Pakistan (NBP) achieved nearly 120% of its target in agri loans and the second best performer after Allied Bank Limited (ABL), which has achieved 146% of the allocated target for the year ended June 30, 2013.

However, among the ‘Big Five’, NBP is the largest and the most efficient lenders to the farmers. This conclusion can be drawn if one compares NBP and ABL.

The first parameter is over all size of disbursement. While NBP disturbed over Rs57 billion, ABL lent Rs27 billion only.

Bank Alfalah And Pakistan Bait-Ul-Mal Launch Bio Metric Based Payment

Karachi, July 25, 2013: Bank Alfalah has signed an agreement with Pakistan Bait-ul-Mal (PBM) for introducing a biometric based payment disbursement solution to its beneficiaries in different parts of the country.  Under the agreement, the Bank will provide cash disbursements via its branchless banking offering to the beneficiaries of the Bait-ul-Mal Child Support Program as a pilot program (initially in the districts of Swat). Once successfully complete, this transparent disbursement mechanism may be extended at a broader scale to other areas in Pakistan. 

NBP re-launch Islamic banking

Karachi: National Bank of Pakistan has decided to re brand and  re-launch its Islamic banking after the gap of almost 4 years. NBP Islamic Banking re-launched under the new brand name, AITEMAAD,  means trust.

National bank open its Islamic banking branches during 2006 to 2009. NBP not able to focused on Islamic banking in last 4 years and no new Islamic banking branch added into the network, the number has not gone beyond 8 over the years.

Implementation Date of Public Sector Companies

ISLAMABAD, July 24: The federal government has extended the date of implementation of the 2013 Public Sector Companies (Corporate Governance) Rules, 2013 to August 8, 2013. The rules issued by the Securities and Exchange Commission of Pakistan to provide a governance framework for the public sector companies are aimed at turning around their performance, minimizing political interference in their management and ensuring effective use of public assets and resources. The rules are available at the SECP’s website (www.secp.gov.pk).

Banks Surpass Annual Agri Credit Disbursement Target

 

Banks have surpassed the agricultural credit disbursement target of Rs. 315 billion set by the SBP for the year ending 30^th June 2013. Against the indicative target of Rs 315 billion, the banks disbursed Rs 336.1 billion, which is Rs 21.1 billion in excess of the target for FY2012-13 and 14.4% higher than the last year’s disbursements of Rs 293.8 billion. Further, the agri. outstanding portfolio stands at Rs 257.0 billion at end June, 2013 showing an increase of 16% compared with the last year position of Rs 221.5 billion.

SBP Make Express Centers To Disburse Fresh Currency Note

The State Bank of Pakistan (SBP) has decided to fully utilize the large network of over 10,000 commercial banks branches all over the country, and all field offices of SBP Banking Services Corporation (BSC) for distribution of fresh currency notes to the general public during the holy month of Ramazan 2013.

Pak Oman Asset Management Company Limited under Watch

 JCR-VIS Credit Rating Company Limited (JCR-VIS) has placed the Management Quality Rating of ‘AM3-’ (AM-Three Minus) assigned to Pak-Oman Asset Management Company Limited (POAMCL), under ‘Rating Watch Developing’ status.

AKD Investment Management Limited under ‘Rating Watch’

JCR-VIS Credit Rating Company Limited (JCR-VIS) has placed the Management Quality Rating of ‘AM3-’ (AM3 Minus) assigned to AKD Investment Management Limited (AKDIML) under ‘Rating Watch Developing’ status.

NBP Leasing Limited Rating at A+/A-1

JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the entity ratings of NBP Leasing Limited (NBPL) at ‘A+/A-1’ (Single A Plus/A-One). Outlook on the assigned ratings remains ‘Positive’.

Islamic Banking Media Campaign launched in Pakistan

Mr. Yaseen Anwar, Governor State Bank of Pakistan has said concerted efforts are required for enhancing the depth and breadth of Islamic banking industry while launching the Mass Media Campaign for Promotion of Islamic banking, today.