Introduction:
History of Banking in Pakistan:
The partition plan was announced on June 3, 1947 and August 15, 1949 was fixed as the date on which independence was to take effect. It was decided that the Reserve bank of India should continue to function in the dominion of Pakistan until September 30, 1948 due to administrative and technical difficulties involved in immediately establishing and operating a Central Bank. At the time of partition, total number of banks in Pakistan were 38 out of these the commercial banks in Pakistan were 2, which were Habib Bank Limited and Australia Bank of India. The total deposits in Pakistani banks stood at Rs.880 million whereas the advances were Rs.198million.
The Governor General of Pakistan, Muhammad Ali
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After Pakistan nationalised Habib Bank Ltd in 1974, this became the main branch of the family held Habib Bank.
• 1969 HBL opened the first of three branches and an OBU in Bahrain. However, HBL’s branch in Aden was nationalized.
• 1971 HBL opened an OBU in Singapore and a branch in New York City.
• 1972 HBL opened the first of 11 branches in Oman. HBL constructed Habib Bank Plaza in Karachi to commemorate the bank’s 25th Anniversary.
• 1974 The government of Pakistan nationalized HBL and HBL merged with Habib Bank (Overseas). The Habib Family, any of its undertakings, or its affiliates had no stake in HBL after its nationalization.
• 1975 HBL opened a branch in Belgium. HBL also merged with Standard Bank, a Pakistani bank.
• 1976 HBL opened a branch in the Seychelles, the first of two branches in Bangladesh, and a branch in the Maldives.
• 1979 HBL opened a branch in the Netherlands.
• 1980 HBL opened a branch in Paris and another in Hong Kong.
• 1981 HBL established Nigeria Habib Bank with 40% ownership. HBL also opened a representative office in Teheran.
Mission & Objectives
----Mission
“To make our customers prosper, our staff excel and create value for shareholders”
Prior to Fuller’s transfer, management at the Carson’s location was poorly run using the classical approach. While this approach can be successful, management has to find a good middle ground between caring for the company and caring about their employees. A traditional classical approach recognizes that there are five important factors to running a successful business (Miller, 19). According to text, these factors are planning, organizing, command, coordination and control (Miller, 19-20). These factors can be seen when you look at Third Bank as a whole. In the study, the CEO saw the issues in his company and put a plan together to improve. He had meetings with management, like fuller, to organize a solution. He then commanded all locations
Flaherty, Edward. 1997. A Brief History of Banking in the United States <http://odur.let.rug.nl/~usa/E/usbank/bank03.htm> (accessed 12-12-99)
JB Hi-Fi began as a small hi-fi retailer in 1974, founder John Barbuto had one dream. It was to become the biggest electronic retailer in Australia, this eventually came to fruition but not while he owned it. JB Hi-Fi was sold in 1982 and again in 2000 to a private bank equity. The goal of Barbuto was undertaken by management and in 2003 JB Hi-Fi was listed on the ASX. Their major competitor is Harvey Norman as they stock and retail very similar products and brands.
managers to leave them more time to get/retain clients (which was already being done in
It went public very successfully in 1973 and in 1979 developed a further joint venture with Belgian retailer, GB-Inno-BM, setting up a successful chain of DIY stores with a supermarket-style layout under the brand ‘Homebase’. Hombase grew into a very profitable concern and in 1995 acquired ‘Texas Homecare’ tripling in size overnight. Homebase was subsequently sold in 2000 for almost £1billion.
JB Hi-fi was started by John Barbuto in 1974 in one of the suburbs of Melbourne named as Keilor East. Barbuto had one simple philosophy to deliver a specialist range of Hi-Fi and recorded music at Australia's lowest
HIE generally started in 1990 when the Hartford Foundation began its CHMIS initiative.
British import and export company, began in the oil business in 1907 when it merged with
At the time of its collapse, Baring Brothers & Co., Ltd was the longest established merchant banking business in the City of London. Since the foundation of the business as a partnership in 1762 it had been privately controlled and had remained independent. In 1890 Barings Brothers was founded. In November 1985, Barings plc acquired the share capital of Barings Brothers and became the parent company of the Barings Group. In addition to Barings Brothers, the other two principal operating companies of Barings plc were Barings Asset Management Limited (BAM), which provided a wide range of fund and asset management services, and Baring Securities Limited (BSL), itself a subsidiary of Barings Brothers, which generally operated through subsidiaries as a broker dealer in the Asia Pacific region, Japan, Latin America, London and New York. Barings Brothers acquired Barings Securities Limited from Henderson Crosthwaite in 1984. BSL was incorporated in the Cayman Islands, although its head office, management and accounting records were all based in London. BSL had a large number of overseas operating subsidiaries including two, Baring Futures (Singapore) (BFS) and Baring Securities (Japan) Limited (BSJ).
In 1975, the Islamic Development Bank opened in Saudi Arabia and gave the islamic finance industry an international presence. It recruited member countries and offer them financial products to promote economic and comunity development.
In this case study it was stated that there were a problem happen in the outsourcing for the Royal Bank of Scotland. What happen was there were an error that happen during the routine software upgrade that cause million of that bank customer cant access to their account. The error happen when one junior technician in India was accidently wiped all the information during the routine software upgrade. The member of staff that was working under the program for the Royal Bank of Scotland, NatWest and Ulster Bank and it was based in Hyderabad, India.
In 1931, Unilever set up its first Indian subsidiary, Hindustan Vanaspati Manufacturing Company, followed by Lever Brothers India Limited (1933) and United Traders Limited (1935). These three companies merged to form HUL in November 1956; HUL offered 10% of its equity to the Indian public, being the first among the foreign subsidiaries to do so.
= = = = National Westminster Bank came into being in 1968 when National Provincial Bank and Westminster Bank merged and began trading on 1st
Muharraq co-operative society established in 1986 . With about 3300 members each has a number of shares , with a board of directors , which are volunteers. they started with a very big supermarket that in hala area then open another supermarket in busaiteen .
Our group have been assinged to discuss on the topic above but in Islamic Banking perspectives. Therefore, before going any further, let us clarify definition of the Principles of Islamic Banking and clarify what are the elements involve in the Principles of Islamic Banking. Beside, we will also do some comparison of product or services offered by both banks which are conventional and Islamic banking. Apart from that, we will also clarify the problems or challenge faced by the agency which practices the Islamic banking in their agency.