Karachi: National Bank of Pakistan NBP is facilitating the overseas Pakistanis and serving the national cause, said Khalid bin Shaheen from GHRMG, Shaheryar Qaisrani, EVP/ Divisional Head, Agriculture Division and Syed Ibne Hassan, Divisional Head, Corporate Communication Division addressing a media briefing at a local hotel here on Tuesday
They said in a major strategic move, NBP created a separate independent group named as Global Home Remittances Management Group in the year 2009 to focus on inward home remittances business. This move was made in view of the national cause to facilitate overseas Pakistanis especially in the backdrop of the changing global environment where the economies world over witnessed financial crisis, stringent regulations on money transfers and sky rocketing commodities prices with oil reaching its highest ever price. This situation also impacted the Pakistani economy as well and all efforts were made by the Government of Pakistan to mobilize Pakistani communities across the globe to support their country by sending money home to their loved ones through legal/formal channels. NBP being the “Nation’s Bank” showed the strongest commitment and established a high powered group to pursue this national cause.
NBP’s Global Home Remittances Management Group GHRMG was established under the leadership of Khalid Bin Shaheen who is a seasoned banker with indepth knowledge of the dynamics of home remittance business through his extensive local as well as international experience. Resultantly, in a very short span of time NBP made massive changes in systems, setup and procedures which brought about a cultural change not just in NBP but across the banking industry in Pakistan as others banks by observing NBP, also realized the importance of home remittances as the second largest source of foreign exchange for the country and followed suit. Since joining NBP, Shaheen through his charismatic leadership has brought about major improvements and achieved important milestones which established NBP as a major player in the home remittances business.
On the occasion, Shaheryar Qaisrani said agriculture has been mainstay of our economy. The actual need for Agriculture sector in Pakistan is estimated as Rs.750 B while nearly Rs.300 B are disbursed through formal Banking Channels, leaving behind a Gap of Rs.450 B which is being filled by informal channels charging high M.up rates. Realizing the fact NBP started playing its due role by utilizing its Human resources and infrastructure, to reach out remote areas, which were previously deprived of bank financing. Bank has also deployed qualified agriculture field officer, to identify, guide, provide technical assistance and get finances extended accordingly to their needs. To help out and farmers and Agriindustry SBP is assigning indicative Targets to each Bank, they also introduced Schemes at lower rates for Farming community i.e. credit Guarantee and Refinance Schemes.
Consequent upon posting of Dr. Asif A.Brohi, as Group Chief C&RBG in April 2010, Actual upsurge was observed in all aspects of NBP Agriculture Finance.
Outstanding as of December 2010 Rs.27.606 B, which ascended to Rs.46.296 Bin December 2012 projecting an increase by 67.7% in comparison to all commercial Banks, which all had below 15% increase in their outstanding.
He said for the first time NBP surpassed a mile stone of Outstanding of Rs.50 B which an historical hallmark.
After identifying needs of farmers & agriculture related community, NBP came up with wide range of products catering farm, nonfarm, corporate, live stocks & Agri allied needs. NBP aims to provide every Farmer a hassle free loan in time. Both working capital and long term loans are being extended to farming and nonfarming communities. Going along with SBP, we have devised various Schemes which cater to needs of various farming and non farming communities, related hand outs and formats are being developed according to needs and queries of various Agri communities as to bring in required ease.
Moreover a series of field programs/seminars cultural Haari melas were also organized to let Agri community understand latest trends and developments.