Faysal Bank Service Reports

Faysal Bank Service Reports

 

History

                   Faysal Bank started operations in Pakistan in 1987, first as a branch set-up of Faysal Islamic Bank of Bahrain and since 1995 as a locally incorporated Pakistani bank under the present name of Faysal Bank Limited. On January 1, 2002, Al Faysal Investment Bank Limited, another group entity in Pakistan, merged into Faysal Bank Limited which resulted in a larger, stronger and much more versatile institution. In fact it has the highest share capital amongst private banks in Pakistan and is amongst the largest in terms of equity.


Faysal Bank Limited is a full service banking institution offering consumer, corporate and investment banking facilities to its customers. The Bank’s widespread and growing network of branches in the four provinces of the country and Azad Kashmir, together with its corporate offices in major cities, provides efficient services in an effective manner.

Mission statement

Faysal Bank shares its mission statement with the DMI Trust. Our mission being “The introduction of a just and equitable financial system by being a world class multi-purpose financial institution, providing a range of specialized services, working on Shariah principles

Board of directors

H.R.H Prince Mohamed Al Faisal Al Saud	Chairman
Farook Bengali	President & CEO
Khalid Abdulla Janahi	Director
Dr. Said Sa'ad Al-Martan	Director
Ziad H. Rawashdeh	Director
Sanaullah Qureshi	Director
Shahid Ahmad	Director
Tariq Iqbal Khan	Director (NIT Nominee)

Executive Committee
Khalid Abdulla Janahi	Chairman
Farook Bengali	Member
Ziad H. Rawashdeh	Member

Products and services

Products

Depsit products(accounts)

The Faysal sahulat account

You may open a Faysal Sahulat Account with a minimum balance of Rs.5,000/- only. The account has unlimited transaction facilities. As a special feature of this account, with a monthly average balance of only Rs.300,000/-*, you may avail the following banking services absolutely free:

Countrywide cash withdrawal facility Minimum transactional amount Countrywide cash deposit facility Minimum transactional amount Pay-orders per year Cheque leaves per year Demand Drafts drawn on FBL, local network Small Locker (Where available) ATM Card

365 withdrawals per year Unlimited Unlimited Unlimited 365 365 365 per year 1 1

The Faysal saving accounts

You may open a Faysal Savings Account with only Rs.10,000/-. There is no restriction on the number of transactions in this account and you get your profit every six months. This account gives you a progressively better profit as the amount in your account grows. Profit will be subject to deduction of Withholding Tax and Zakat as per applicable rules.

Rozana munafa account

Why let your money sit idle in a current account when you can profit everyday? To provide simple solutions for businesses and individuals, Faysal Bank’s Rozana Munafa Account offers the perfect combination of savings account matched with the flexibility of a current account. You can open this account with a minimum balance of Rs.200,000/-.
To avail high profits the Rozana Munafa Account offers you a tiered profit structure. Your profits will be calculated each day at the month's average balance, profit will be disbursed every six months and will be subject to Withholding Tax and Zakat as per applicable rules. The higher your deposit, the higher the profit.

Rozana munafa plus account

To provide the best possible returns for individual, corporate and business customers, the Rozana Munafa Plus account, offers you the opportunity to earn profit everyday. “Get the advantages of a term deposit with the convenience of a savings account and the flexibility of a current account.” You can open this account with a minimum balance of Rs.500,000/-. To avail high profits we offer you a tiered profit structure. Profits will be disbursed every month and will be subject to Withholding Tax and Zakat as per applicable rules.

Faysal premium & extra premium account

This group of accounts is specially designed for high value deposits with very attractive rates of return and special terms. For further details, please contact the Branch Manager at any branch of Faysal Bank near you.

Basic banking account

You may open your Basic Banking Account with any amount you like as there is no minimum balance requirement. You can make two deposits and two withdrawals in a month absolutely free. There are no ATM transaction charges on Faysal Bank ATM machines. Also, you will receive the annual Statement of account without any charges.

Faysal izafa

At Faysal Bank, we realize every customer’s financial needs are different. As a result the Faysal Izafa Term Deposit, provides you with an option of growth or a monthly income plan. Faysal Izafa is a term deposit for corporate and individual customers designed to enable your money to grow securely and swiftly. A deposit can be established with an investment of as low as Rs.25,000/-, which can be invested from one month to five years. Six months, one year, two years and three years deposits also offer monthly disbursement of profit. Faysal Izafa deposits of 3 months and above, additionally offers you high profit rates i.e. the larger the size of your deposit the higher the profit rates. Profits on Faysal Izafa are subject to deduction of Withholding Tax and Zakat as per applicable rules.

Mahfooz sarmaya

The Mahfooz Sarmaya Account is a tiered account, where the higher your deposit amount, the better the rate of profit. You can now open your account in US $, GBP or Euros with a minimum balance of 1,000 units of that currency. This account offers you the facility of Current, Savings and Term Deposits. There is no restriction on number and frequency of withdrawals in the savings account and profit is declared and paid every six months. The term deposit offers tenors of between 7 days to 1 year with very attractive returns. Profit is paid at maturity. Profit payment is subject to Withholding Tax as per rules.

2-Consumer finance products

Faysal car finance

Faysal Car Finance is the most flexible product designed to meet customer needs.
Now you can swiftly, easily and cost effectively own a car if you are:

• A Pakistani National holding the New Computerized Identity Card (NADRA)
• A National Tax Number (NTN) holder
• At least 20 years of age at the time of financing and will be less than 60 years old before full payment is made to the Bank
• A resident of Karachi, Quetta, Hyderabad, Lahore, Faisalabad, Multan, Sialkot, Gujranwala, Bahawalpur, Rawalpindi, Islamabad, Peshawar, Mirpur (AK), Gujrat or Gujjar Khan.
• A Businessman or Self-Employed with a minimum of one year experience in the same business and profession.
• A Salaried person with at least two years employment history.

If you meet the above criteria, we offer:

• Car Financing for new and used cars
• Car Financing upto five years
• Car Financing up to Rs. 1.5 milion
• Down payment only 20% of the car value
• Low processing charges
• Quick processing time
• Availability of premature termination of financing

Faysal housing finance

Faysal Housing Finance gives you so much more than great financing rates - We help you all the way to make your next move in an easy and timely manner.
You can select any scheme of Faysal Bank’s housing finance to meet your need anywhere in Karachi, Lahore, Islamabad, Rawalpindi, Multan, Peshawar, Gujar Khan, Gujranwala and Faisalabad.

Faysal finance

Faysal Finance gives you an opportunity to liberate yourself from financial anxieties and fulfill your dreams and aspirations in an easy and affordable manner. ‘Faysal Finance’ is based on ‘Morahaba’ mode of financing. It has been designed to cater to financial needs of people from all walks of life:

• Professional Assistance offers financial support for qualified professionals and to the self-employed to set-up or enhance private practices.
• Credit Partner can help you build a new business or expand an existing one.
• Life Sketch can be used to upgrade your life style or you can utilize it as a monetary support for your child’s future.

You are eligible for “Faysal Finance” if:

• You have a Pakistani Computerized NIC.
• Your age is between 25 & 65 years.
• Your minimum verifiable monthly income is Rs. 18,000.
• You have minimum two years of working experience.

Tenor of repayment is between 1 month (min.) and 5 years (max.)

Services

Cash management

In recent times, Cash Management has proven to be one of the most productive services offered by Faysal Bank to its Corporate Customers.

• Why Faysal Bank’s Cash Management Services?
  Our primary focus is on efficient management of customers’ cash flows along with the financial products designed to fit every client’s specific needs.
• What does Faysal Bank’s Cash Management Offer?
  In addition to the customized requirements of our clients, we generally offer solutions pertinent to receivables and payables management, dividend payments/processing and state-of-the-art information systems for product delivery and customized MIS reporting.
• What is Faysal Bank’s Client-base?
  Our Cash Management clientele consists of some of the highly reputed Corporate names from diversified industries, for instance, Unilever, Al-Ghazi Tractors and MCR (Pvt) Limited [Pizza Hut, Pakistan].

ATM & debit card

Our FAST ATM and Debit Card, gives you access to all ATMs coutrywide linked to both the M-Net and 1-Link switches. In addition to this your FAST Debit Card allows you the facility to make purchases at over 2,000 retail outlets linked to the ORIX Network countrywide.
FAST ATM Card:
Your FAST ATM Card offers you the facility to withdraw cash at all ATMs countrywide, to make balance inquiry and generate mini-statements (on Faysal Bank ATMs only). Using your FAST ATM Card you can withdraw upto Rs.25,000/- per day on both Faysal Bank and all 1-Link ATMs and upto Rs.10,000/- per day on all M-Net ATMs.
FAST Debit Card:
The FAST Debit Card allows you the benefit of making cash free purchases and payments upto Rs.200,000 per day, saving you the hassle and risk of carrying cash around or having to visit your branch or ATM every time you need to make a payment.
What benefits will my FAST Debit Card give me?

• Free from carrying cash or cheque books
• Safe, convenient and hassle free
• More acceptable than personal cheques
• Higher daily limit of spending
• No interest as in the case of credit cards
• 24-hour access to your bank account from anywhere in the country.

Travelers cheques

You may purchase American Express, US Dollar and Pound Sterling Travelers’ Cheques at selected branches of Faysal Bank.

Transfer of funds

Inter Branch Transfer of funds
You can deposit and withdraw cash from any branch of Faysal Bank, regardless of which branch your account is in. You need only to carry your chequebook!

SWIFT Money Transfer:
Customers of Faysal Bank can now easily and speedily transfer funds in foreign currency through the SWIFT system installed at the Bank.

Western Union Service: Customers who receive money transfers from overseas through the Western Union service can now withdraw their funds through any Faysal Bank branch.

Safe deposit lockers

Most branches of Faysal Bank offer lockers for lease, in a variety of sizes at very competitive rentals. Locker facility is available to all customers maintaining minimum balance requirements in their respective account categories. Lockers are placed in a secure environment with pleasant custodians to assist customers.
Additionally all lockers are insured through a reputable insurance company.

Non stop banking

All branches of Faysal Bank remain open for business from
9 a.m. to 5 p.m. from Monday to Thursday. On Friday, the bank is open from 9 a.m. to 12.30 p.m. and then again from 3 p.m. to 5 p.m. On Saturday, the bank is open from 9 a.m. to 12.30 p.m. only.
The Faysal Bank Fast ATM & Debit card provides you round the clock service.

1-Financing facilities

Corporate financing

Faysal Bank Limited is fully geared to meet the changing economic challenges present in Pakistan. We are ever striving to build meaningful relationships with our customers and become partners in their growth and progress by acting as financial advisors and consultants as well as financiers. Our Corporate Finance Group extends both short and long term financing facilities designed to fulfill the individual need of each corporate customer.

SME financing

Small and Medium Enterprise (SME) unit of the Bank is geared towards catering to the banking requirements of small to medium businesses in a timely and therefore cost effective manner. All the branches of Faysal Bank are equipped to speedily attend incoming financing requests from SMEs. We help our customers grow from strength to strength by acting as their bankers and financial advisors.

Agricultural financing

Faysal Bank offers specialized products for the agricultural sector. Our branches located in agricultural areas of Pakistan are all equipped to help the local farmers improve their yield and methods of farming by offering timely and affordable modes of financing to suit their needs.
To increase its outreach into agricultural regions of Pakistan, Faysal Bank has entered into strategic alliances with other specialized banks through whom it will be financing the needs of farmers.

Trade financing

Faysal Bank has established a strong presence globally in Trade Financing through it's network, affiliates and correspondents. The Bank has conveniently maintained relationships with major banks in the international financial market and continues to develop new ones wherever needed. Our Trade Finance services include a full range of import, export and guarantee products, thus offering tailor-made solution to fit the individual need of each customer

Investment banking

With the ever-changing business environment in Pakistan, companies need expert partners with a keen understanding of business to help achieve profit objectives. At Faysal Bank , we offer the leaders of businesses and institutions, corporate advisory services and a wide array of tools to help them accomplish their goals. We advise and facilitate the arrangement of commercial paper, Modaraba flotation, syndications, mergers, acquisitions and underwriting arrangements amongst many others. Whether the customers require financing of a project or managing of investments, we can guide them through the markets and tailor a solution to meet their specific needs.

Treasury and capital markets

Faysal Bank’s Treasury is one of the leading market makers in quoting competitive prices in all major currencies and provides dynamic corporate and institutional marketing teams with up-to-date market information. Our cutting edge is the in-time advice and execution of deals for our customers. Faysal Bank’s treasury team strives to satisfy the customer’s financial needs in a timely and a flawless manner.
Faysal Bank has earned immaculate reputation in the field of Capital Markets, which is quite evident from our track record and market share in this area.

Posted in: Bank Service Reports,Banking Sector