HBL will provide Multinet with 7-year long-term funding of PKR 2.1 billion (US$10.1 million) for its ‘Digital Infrastructure Facility’ backed by a PKR 1.57 billion (US$7.6 million) credit risk guarantee by InfraZamin Pakistan to bolster fibre optic network for greater digital reach and transmission across Pakistan.
Khoo Boo Hock, Chairman - Infrazamin (sitting 1st from left), Adnan Asdar, CEO - Multinet (sitting 2nd from left), Maheen Rahman, CEO - Infrazamin (sitting 3rd from left) Aamir Irshad, Head Corporate, Commercial & Investment Banking Group - HBL (sitting 4th from left) and Sarah Mooney, British Deputy High Commissioner (sitting 5th from left) and other senior members from respective organizations were also present at the occasion.
Karachi, Pakistan – 18 August 2022
InfraZamin Pakistan’s partial credit risk guarantee cover of PKR 1,575 million (US$7.6 million) on the Digital Infrastructure Facility will effectively de-risk the majority of credit risks of this project expansion. This is InfraZamin’s first transaction in Pakistan and paves the way forward for deeper market development via credit guarantees.
HBL will facilitate Multinet to access 7-Year long-term funding in expanding their fibre optic network to under-served cities and populations, enable a wider reach for internet access via fibre for Small and Medium Enterprises and reduce the cost of carrying broadband traffic from one city to the other thereby improving cost-effective data and broadband penetration in Pakistan.
In addition to these positive developmental impacts, the project is also expected to create additional jobs of which 20% will be allocated specifically to women. Multinet has also chosen to adopt best practices in Health and Safety standards and will work on a long-term basis with an independent Health and Safety advisor to ensure worker safety and protection during network rollout. The company will continue to engage with InfraZamin to ensure continued capacity building and training in this area.
The project also envisages improved corporate governance, disclosure and transparency standards for Multinet which is a welcome step towards better governance standards in private unlisted companies.
Commenting on the occasion, Aamir Irshad, Head Corporate, Commercial & Investment Banking Group – HBL, said, “HBL is a strong advocate for technological advancements and has shown its continued support for the development of digital infrastructure by extending a Infrazamin credit guarantee backed loan facility of PKR 2.1 billion to Multinet. We believe this facility will go a long way in augmenting internet and data access to second and third tier cities of Pakistan along with improving the capacity and quality of internet for Mobile Network Operators, Internet Service Providers and SMEs.”
Commenting on the occasion, Maheen Rahman, CEO - InfraZamin, said, “The transaction is one step further towards mobilising investments from the private sector for boosting economic growth and covering the infrastructure gap in frontier markets. We are grateful to HBL Bank for their vision and support throughout this transaction process and look forward to seeing Multinet achieve their business expansion goals. This project caters to Pakistan’s dynamic and growing digital sector and we are happy to lend our support towards realising Pakistan’s vision towards greater digital access and inclusion.”
Commenting on the occasion, Adnan Asder, CEO - Multinet, said, “IZP credit guarantee facility played an instrumental role in obtaining PKR 2,100 mln long-term loan facility from Habib Bank Limited. The said funding will assist Multinet in doubling its data centres capacity, enhancing long-haul network transmission capacity, expanding metro footprint for tower fiberization and meeting SMEs ICT services requirements. This transaction will help Multinet in achieving its strategic goals by expanding the telecom infrastructure in the country. This would lead to enhancement of state-of-the-art facilities of fiber infrastructure to the customers and supporting other stakeholders for 5G inclusion in Pakistan. We are appreciative of InfraZamin for extending their support along with HBL Bank who share a similar vision for growth of the digital sector in Pakistan”
Karachi, Pakistan – 31 August 2022:Konnect by HBL has launched Pakistan’s only Branchless Banking Islamic Account, Konnect Islamic Account.
This shariah-compliant account follows Konnect’s promise of ease and convenience and can be opened by using a CNIC and mobile number. Konnect Islamic Account offers all Branchless Banking transactions/services such as Fund Transfers, Bill Payments, Corporate Payments and much more. A Konnect Islamic Account holder can also apply for Islamic Debit Card to access nationwide ATMs for cash withdrawal and POS transactions.
Konnect’s 45,000 + agents are equipped to open Konnect Islamic accounts. They provide an unprecedented convenience to open a fully shariah-compliant account, especially to those who previously could only be banked via limited Islamic bank branches. The Konnect agents will also be assisting those who are unable to open their accounts via the Konnect App and even those who don’t own a smartphone.
The aim is to reshape people’s lives with Islamic financial inclusion to enable them to live in accordance with Islamic values.
Commenting on this occasion, Abrar Ahmed Mir, Chief Innovation & Financial Inclusion Officer – HBL, said, “HBL Konnect is already catering to a massive unbanked population of Pakistan. As much of Pakistan remains unbanked, HBL always seeks to address this gap. Our Branchless Banking Channels have played a key role in addressing this issue in line with our focus to become more customer-centric. We understand the need for shariah-compliant services is growing fast and we believe this service will help enhance inclusion.”
Commenting on this occasion, Shahzad Babar, Head Retail Banking Islamic – HBL, said, “We invest in Islamic modes of financing such as ijarah, modaraba and offer riba-free products to better serve the Islamic Banking needs of our customers. All the Islamic products offered by HBL are approved by the Bank’s Shariah Board.”
The agreement was signed by Habib Shah, Acting Head Agriculture Banking – HBL (sitting 1st from left) and Syed Ahmer Shoaib, Deputy Executive Director Commercial – Adamjee Insurance (sitting 2nd from left). Senior members from both organizations were also present at the occasion.
Pakistan, Karachi – 1 September 2022:
HBL and Adamjee Insurance Company Limited (AICL) have collaborated for providing livestock insurance to clients. The insurance arrangement will provide coverage of animal mortality in addition to covering the accidental death of the client.
This partnership brings a unique Insurance product to the industry i.e., “Working Capital Livestock Insurance Scheme”. This product further strengthens the HBL agriculture portfolio by mitigating significant risks and promoting greater financial empowerment for the dairy and livestock farming sector of Pakistan.
Commenting on the ceremony, Habib Shah, Acting Head Agriculture Banking – HBL, said, “Pakistan is the fourth largest milk producing country in the world. The agreement with AICL will facilitate in improvement of the dairy and livestock ecosystem through the provision of insurance protection to dairy farmers towards animal mortality. HBL is the leading farmer financing provider in the country and is committed to enhancing financial inclusion in rural Pakistan through such partnerships.”
Commenting on the ceremony, Syed Ahmer Shoaib, Deputy Executive Director Commercial – AICL, said, “We believe that this partnership will benefit Pakistan’s dairy farmers by enhancing their protection. The integration of Personal Accident Coverage of farmers in the Livestock Insurance is a benefitting value addition that actively enhances the agricultural landscape of Pakistan while adding to the stability and sustainability of farmers”
Karachi, Pakistan – 05 September 2022:
HBL Mobile and Konnect by HBL launch the industry’s first Peer-to-Peer (P2P) QR-based funds transfer facility in line with the mandate of the State Bank of Pakistan.
This new and innovative feature enables HBL Mobile and Konnect by HBL to provide clients with an easier and faster way of receiving and sending money for account-to-account funds transfer.
Users can now conveniently generate a QR code from their mobile app for transferring funds without sharing lengthy account numbers/IBANs. The feature also offers the option of generating a QR code for a specific amount with an expiry date.
Commenting on the launch, Abrar Ahmed Mir, Chief Innovation & Financial Inclusion Officer – HBL, said, “HBL continues to innovate and offer digital products and services, that are designed to transform the current banking practices. With the launch of this first-of-its-kind feature i.e., funds transfer via QR, HBL is empowering its clients with increased banking choices enabled by digital inclusion.”
Karachi, Pakistan – 15 September 2022:
HBL, the largest and best bank in Pakistan, has announced raising the staff service age from 60 years to 65 years. This first-of-a-kind step underscores the Bank’s commitment to the well-being of its staff, thus ensuring they continue to thrive.
In the current socio-economic environment, this first-of-a-kind step is a game-changer for the financial industry. This ensures that the staff continue to financially support their families in the present global and local economically challenging times. Moreover, it will allow the Bank’s experienced staff members to further utilize their skills and also pass on those skills to the younger generation.
With effect from 01 September 2022, the Bank will retain all its management staff till the age of 65 years.
Commenting on the initiative, Muhammad Aurangzeb, President & CEO - HBL, stated, “The strides that the Bank has made over the last eight decades, would not have been possible without the dedication and hard work of its people. HBL, with guidance from the Chairman and the Board of Directors, undertook the game-changing step of raising the service age to improve the quality of life of those we work with and those we serve. This effort underpins our belief in being a ‘Bank with a Soul’.”
Karachi, Pakistan – 29 September 2022:
HBL is aware of the news item published by Bloomberg. The allegations in the complaints—which have been pending in the U.S. Court for more than two years—are meritless, and HBL is contesting them fully and vigorously. The public record is clear that HBL is unwavering in its commitment to combating the financing of terrorism. HBL’s extensive global implementation of anti-money laundering and counter-terrorism financing compliance controls is well documented and has been highly successful and lauded by regulators around the world.
HBL’s preliminary motion was successful in two respects: The Court dismissed the primary liability claims and narrowed the case substantially. The Court also stated that the secondary liability claims will be evaluated for dismissal upon following due legal proceedings, and no judgment was passed by the Court on the matter. Indeed, the Court specifically invited HBL to renew its motion to dismiss all remaining claims for lack of jurisdiction after the parties have exchanged certain factual information concerning jurisdiction.
Moreover, HBL proactively initiated a business transformation program, in early 2018, around its control and compliance processes and systems to adhere to international standards. HBL has made investments in management time and resources to further strengthen its AML and CFT protocols by partnering with global experts in this field. The Bank is committed to adhere to the highest standards of compliance with international and local laws and regulations.
Muhammad Aurangzeb, President & CEO – HBL (standing 4th from left) inaugurated the HBL Prestige Lounge in Rahim Yar Khan. Senior leaders of the Bank were also present at the inauguration.
Karachi, 03 October 2022:
HBL inaugurated Prestige Lounge located in Rahim Yar Khan. This is the 1st HBL Prestige Lounge in the city, making a total of 35 lounges across 14 cities, with plans to further expand the Prestige footprint. The inauguration of the lounge was done by Muhammad Aurangzeb, President & CEO – HBL. The Bank’s senior leaders were also present on the occasion.
HBL Prestige provides a world-class banking experience to high-net-worth individuals (HNWIs). This exclusive proposition offers seamless instant account opening with tailored solutions through dedicated digital & physical channels and portfolio managers. The account offers personalized banking services to its clients including but not limited to instant world elite debit card issuance, dedicated conference rooms, and top-notch alliances. The state-of-the-art Prestige Lounges are located strategically in high-visibility areas of key cities.
Commenting on the occasion, Muhammad Aurangzeb, President & CEO – HBL said, “HBL Prestige is exclusively designed and tailored to meet the financial and lifestyle needs of our high-net-worth clients across Pakistan. We are delighted to inaugurate our state-of-the-art HBL Prestige Lounge in Rahim Yar Khan. We hope to remain true to HBL Prestige’s motto of ‘With you, in what you value’.”
Sultan Ali Allana, Chairman – HBL, inaugurated the HBL Prestige Lounge in UAE. Shaffiq Dharamshi, member of the Board of Directors – HBL, Muhammad Aurangzeb, President & CEO – HBL, valued clients, dignitaries, and senior leaders of the Bank were also present at the inauguration.
Pakistan/UAE - 10 October 2022:
HBL Prestige footprint expands internationally with its lounge in Jumeirah branch, Dubai, UAE. The inauguration of the HBL Jumeirah Prestige Lounge was performed by Sultan Ali Allana, Chairman – HBL. Shaffiq Dharamshi, member of the Board of Directors – HBL, Muhammad Aurangzeb, President & CEO – HBL, valued clients, dignitaries, and senior leaders of the Bank were also present on the occasion.
HBL has a long-standing commitment to the UAE market and, in 1966, was one of the first foreign banks to open a branch in the UAE. Since then, HBL has provided a wide range of personal and corporate banking products and services to clients through its branches in Dubai, Abu Dhabi, Al Ain, and Sharjah.
HBL Prestige provides a world-class banking experience to high-net-worth individuals (HNWIs). This proposition offers tailored solutions through dedicated portfolio managers, differentiated digital strategy, and state-of-art lounges.
HBL Prestige offers personalized banking services to its clients in UAE. These well-designed exclusive services include enhanced limits on debit card, deposit lockers free of any charges, as well as services like assistance at Dubai Airport.
After the launch of 35 successful lounges in Pakistan, the Prestige lounge at Jumeirah makes a total of 36 lounges with future plans to expand the footprint both, locally and internationally.
Commenting on the occasion, Muhammad Aurangzeb, President & CEO – HBL, said, “We are delighted to bring the HBL Prestige proposition to UAE and inaugurate our first state-of-the-art international HBL Prestige Lounge. As part of our continued commitment to our clients in UAE, we are confident that they will now experience a dedicated world-class service. We hope to remain true to HBL Prestige’s motto of ‘With you, in what you value’.”
The mandate was signed by Muhammad Nassir Salim, Head Branch Banking & Acting Head Islamic Banking – HBL (sitting 1st from left), Imtiaz Ahmed Khan, Chairman - Ghani Group (sitting 2nd from left), and Shahid Ali Habib, CEO - Arif Habib Limited (sitting 3rd from left). Senior members from respective organizations were also present at the occasion.
Lahore, Pakistan – 25 October 2022:
HBL and Arif Habib Limited have formed a consortium for providing advisory services in respect of the Initial Public Offering and listing of Ghani Ceramics Limited on the Pakistan Stock Exchange. A signing ceremony was held at the Head Office of Ghani Group in Lahore.
Ghani Ceramics Limited is a concern of Ghani Group; a reputed business house with interests in Container glass, Float glass, Value added glass, Mining, Ceramics, etc. The main business activity of Ghani Ceramics is the manufacturing of floor & wall tiles, its unit is located in Faisalabad.
Commenting on the occasion, Chairman – Ghani Group, said, “Ghani is one of the few Sharia-compliant groups of Pakistan and has been managing all their short term & long-term requirements through equity. He added that our mission is to be successful by effectively & efficiently utilizing our philosophies so that we achieve & maintain constantly the High Standards of Product Quality & Customer Satisfaction. Ghani has dominated the glass market for a long by not only owning the biggest glass manufacturing operations but also by pocketing the largest market share in all its glass products line up in Pakistan. I am confident about the company’s growth and safe future. With the assistance of strong and professional management of HBL and Arif Habib, Ghani Ceramics will aim to make a successful IPO in Pakistan.”
Commenting on the ceremony, Muhammad Nassir Salim, Head Branch Banking & Acting Head Islamic Banking – HBL, said, “HBL is the largest bank in Pakistan and offers its clients the widest range of products suite and excellence in customer service. We are confident that we will provide Ghani Ceramics Limited with the best financial advice available. The partnership with Ghani Group will be further strengthened as a result of this engagement.”
Commenting on the ceremony, Shahid Ali Habib, CEO - Arif Habib Limited, said, “AHL a market leader in Equity IPOs, is honoured to be associated with a blue-chip company like Ghani Ceramics. Through this IPO, Ghani Ceramics’ market position will be further strengthened”.
Pakistan, Karachi – 19 October 2022:
HBL Plaza, Karachi, illuminated in pink to observe the Breast Cancer Awareness Month (October 2022) and spread awareness of this potentially fatal disease. HBL believes in creating a safer and healthier future for women. One of the most iconic landmarks in Pakistan, HBL Plaza remains a symbol of Karachi’s skyline.