News Update Times

DataSync Pvt. Ltd joins hands with Tech Saeein to help SMEs. The goal of the collaboration is to enable SMEs achieve highest automation at an affordable cost.

Karachi (Muhammad Yasir) The Small and Medium Enterprises (SMEs) constitute nearly 90% of all the enterprises in Pakistan; They employ 80% of the non-agricultural labor force; and their share in the annual GDP is approximately 40%. However, unlike large enterprises in the formal sector, a small and medium enterprise is constrained by financial and other resources. This inherent characteristic of an SME makes it imperative that there should be a mechanism through which it may get support in different functions of business including technical upgradation, marketing, financial and human resource training & development.

Realizing the constraints faced by the SMEs, DataSync and TechSaeein are collaborating to help the small and medium enterprises in the country to improve workers productivity by using its finest office management solution eOffice^TM. This is a great opportunity for SMEs to test drive eOffice^TM & digitize their operations. This collaborative effort entitles the SMEs/Customers of TechSaeein to use eOffice^TM with premium support for six months at no cost. This highly scalable system is extremely user friendly and secure & offers a seamless integration of different processes and departments. eOffice^TM is a great tool to migrate operations into a paperless environment trimming 89% of the operations overhead & improve staff efficiency by 90%.

Since its inception DataSync’s primary goal has been to digitally enable every business and institution with technology, by supercharging their operations and processes through high-tech solutions at a very affordable cost. Datasync has formed partnerships with associations, businesses, NGOs and startup incubators to provide users access to technology & help achieve highest automation at an affordable cost. As part of its CSR initiative DataSync provides free use of its products with dedicated support and training to NGOs that are serving the local communities & institutions.

TechSaeein is the brainchild of three veterans from Information Technology, Banking and FinTech, individually having over three decades of highest-level management experience of their fields. The thought process behind creating a Premium-Online store was to provide a One-Stop-Shop for those Quality Seeker who despite their extensive efforts could not find the right gadget in the market. Tech Saeein is an online store where they provide you with the best quality branded products that include all types of PCs – desktops & laptops, printers, smartphones, smart devices& appliances, wearables & consumables. All products carry original brand warranty.

Fintechcompanies from all over the world are invited to compete for a combined $125,000 in total prize money and a spotlight on the world stage

Lahore (Muhammad Yasir) Visa announced the 2021 edition of the Everywhere Initiative – a global innovation program and competition for fintechs. This year, the focus is on expansion and accessibility, with Visa offering a one-stop experience to register and learn about upcoming opportunities and competitions.

Fintechs started by everyone, everywhere will pitch their ideas in regional competitions to a panel of expert judges from across the payments industry. All applicants from Pakistan are invited to compete first on a CEMEA (Central and Eastern Europe, Middle East and Africa) stage to win a combined $25,000 in total prize and then on a global stage for a combined $100,000 in total prize money. and to tell their companies’ stories.

“Supporting companies across the globe who are building solutions that power seamless money movement everywhere is a top priority for Visa. We recognize fintechs as a force for innovation that is core to our business and encourage everyone to apply to Visa Everywhere Initiative. I am looking forward to seeing the many brilliant ideas from Pakistan this year,” noted Kamil Khan, Visa’s Country Manager for Pakistan.

The Visa Everywhere Initiative is a global, open innovation program that tasks start-ups and fintechs to solve payment and commerce challenges of tomorrow, further enhance their own product propositions and provide visionary solutions for Visa’s vast network of partners. The program first launched in the U.S. in 2015 and quickly expanded into a global program with more than 7,000 participating startups. To date, startups have collectively raised over $2.5 billion in funding, and the program has been activated on six continents—touching more than 100 countries.

Six monetary prizes will be awarded during the global finals event, where the Winner will receive $15,000 USD and Audience Favorite will receive $10,000 USD. The CEMEA winner will participate in the Global Competition. Overall Winner will get $50,000 USD; Audience Favorite will get $25,000 USD; 2nd Place winner will get $15,000 USD and 3rd Place winner will get $10,000 USD. Visa does not ask for any equity from Visa Everywhere Initiative competitors as part of this competition.

Visa is looking for creative minds who are solving the payments and commerce challenges faced by businesses of all sizes and sectors, including but not limited to: Enabler of Digital Services and Digital Issuers; Digital Issuance; Value-Add for Merchants and/or Consumers when it comes to Finance; Small/Medium -Sized Business Recovery.

Participants are invited submit applications in English to the CEMEA regional pitch before May 7, with the regional CEMEA finals scheduled for June 8 and global finals – for September 14, 2021. Visa and TechCrunch will promote and host live-streamed and virtual events in North America, CEMEA and Latin America.

Participants can register and submit applications in English following the link: https://visaeverywhere.typeform.com/to/VxWIYB

Lahore (Muhammad Yasir) Reon Energy Limited today announced the completion of its’ 3.73 MW captive Solar Power Project for G&T Group in Karachi, and Baluchistan. The Solar Photovoltaic Plant is the largest bi-facial PV rooftops in the country.

The 3.73 MW Photovoltaic Project is expected to produce approximately 6,152 MWh (Megawatt hours) annually. The project is dispersed across 4-locations including Gatron at Hub, Mustaqim Dyeing and Printing at SITE and Nooriabad and Novatex at Landhi.

The output energy will be used on-site, reducing gas consumption, and avoiding around 3780 Tonnes of CO2 equivalent emissions during the plant life. Bi-facial solar modules applied at G&T, that can absorb sunlight from both faces- front and back, have significantly improved energy production by up to 10%.

The project ensured strict compliance with COVID-19 protocols during execution. A total of 80 jobs were created for the locals during execution.

 

• 5-months of deals and offers on fresh food items available at Carrefour from February 25 until July 25, 2021
• New offers every week will be available both in-store and online
• Extended promotion period allows customers to avail unmissable deals in stores while adhering to social distancing requirements

Lahore (Muhammad Yasir) Carrefour, owned and operated by Majid Al Futtaim in Pakistan, has launched an extraordinary five-month promotional campaign bringing weekly saving deals on a vast range of fruits and vegetables. The offers will be valid from February 25 to July 25, 2021 at all Carrefour’s physical and digital stores across the country.

 Fittingly called “It’s a Big Deal”, the promotional campaign supports customers at a time when many are looking to trim their household outgoings and grocery spend in the wake of the pandemic. Always focused on delivering exceptional value for customers through every experience, It’s a Big Deal will see customers benefit from weekly deals and savings across several fresh food items, including quality fruits and vegetables throughout the campaign’s five-month duration.

Jean Marc Dumont, Carrefour Pakistan Country Manager at Majid Al Futtaim Retail, commented, “As a proud part of the communities we serve, we know the pandemic has brought uncertainty into our everyday lives. But with the launch of It’s a Big Deal —we are ensuring one thing: every time you visit Carrefour, you’re guaranteed exceptional choice and value. The campaign is yet another way we guarantee more for you — our loyal customers.”

Alongside providing months of savings, the extended promotion period aims to prevent too many customers rushing in to avail short-term deals, which can challenge Carrefour’s social distancing requirement.

Customers can make a welcome saving on fruits and vegetables by shopping in-store or online at www.carrefour.pk. Customers can also shop via the Carrefour app, available for download at Google Play store and Apple’s App Store.

Lahore (Muhammad Yasir) Dubai Islamic Bank – the World’s First Islamic bank – today joined the Roshan Digital Account (RDA) initiative of the State Bank of Pakistan (SBP) in a ceremony with Governor SBP, Dr. Reza Baqir, as the Chief Guest. Headquartered in Dubai, Dubai Islamic Bank (DIB) has the distinction of being the largest Islamic bank in the UAE market and the second largest in the world by assets, which reflects its global strength. DIB has a global presence across seven countries (UAE, Pakistan, Kenya, Indonesia, Turkey, Sudan & Bosnia).

Roshan Digital Account has shown impressive results in the short period of five months since it was launched to digitally connect Overseas Pakistanis with Pakistan’s banking and payments system. Over $550 million in remittances has already been generated and over 90,000 accounts opened, and the momentum has been rising in the last few months. Addressing the ceremony through video, Governor SBP Dr. Reza Baqir congratulated the management of DIB for becoming the 10th bank to partner with the SBP in offering RDA for the Pakistani diaspora. He lauded the many contributions of Non-Resident Pakistanis (NRP) for the country and added that the RDA is a manifestation of the vision of Prime Minister Imran Khan to make the Pakistani diaspora an integral part of Pakistan’s economy by connecting them to the country’s financial system.

He highlighted three key recent refinements to RDA that have been made in light of feedback received from NRPs.

These include: (1) introducing Naya Pakistan Certificates (NPCs) in Euro and British Pound, in addition to the existing Pakistani rupee and US-dollar denominated certificates; (2) changes by federal government in relevant laws allowing the tax paid at source on profits on investments in NPCs, shares, mutual funds, and property to be full and final; and (3) substantially reducing the cost of transferring funds internationally to and from RDA accounts from $40-60 to $5-9 for most transactions. Towards the end of his address, Dr. Baqir expressed his hope that DIB would help RDA achieve even bigger milestones in the future and that its contribution would be even larger than the banks that joined the initiative earlier. In his address, Deputy Governor SBP Dr. Murtaza Syed appreciated the efforts put in by DIB for successfully joining RDA. Dr. Syed threw light on the salient features of RDA, explaining that it provides digital access to all conventional banking services including funds transfer, bills and fee payments, and e-commerce as well as attractive investment opportunities in the stock market, property and government bonds.

He said that RDA enables investment by Non-resident Pakistanis in NPCs issued by the Government of Pakistan at very attractive risk free rates and in both conventional and Shariah-compliant forms. Moreover, funds available in the account can be remitted back from Pakistan without any approval from banks or SBP. Elaborating on the RDA journey, the Deputy Governor emphasized that a key ingredient of success has been to ensure that customer’s experience is par excellence. He expressed the hope that DIB would ensure a class-experience for its customers from the very beginning, and inject even greater momentum into the RDA initiative by capitalizing on its key advantages in the UAE market and within the Islamic Banking industry.

Speaking on the occasion Mr. Junaid Ahmed CEO, Dubai Islamic Bank stated: ‘Dubai Islamic Bank – World’s First Islamic Bank and a global franchise is operating in Pakistan since 2006 with presence across seven countries will soon become a major player for RDA. Our existing customer base of over 200,000 in UAE gives us an all important advantage to capture the potential for Roshan Digital Accounts. Moreover, our Non Resident Pakistanis working in Dubai Islamic Bank UAE will also benefit from this product. Our focus is on a seamless experience and prompt response time for the customers. Dubai Islamic Bank has also engaged the services of legendary Cricketer Mohsin Hasan Khan as its brand ambassador for RDA.

Mohsin Hasan Khan has the distinction of being the first among only two Asians to score a double century at Cricket’s headquarters at Lords and is our national asset. Offering a wide range of product features along with investment opportunities for NRPs through Islamic Naya Pakistan Investment Certificates and access to capital markets through CDC, Roshan Digital Account is one of the key Digital Banking initiatives being rolled out by Dubai Islamic Bank this year.

Karachi (Muhammad Yasir) The Board of Directors of Meezan Bank Limited in its meeting, held on February 18, 2021 approved the audited financial statements of the Bank for the year ended December 31, 2020. The meeting was presided by Mr. Riyadh S.A. A. Edrees – Chairman of the Board, Mr. Faisal A. A. A. Al – Nassar – Vice Chairman of the Board was also present.

The Bank recorded excellent results for the year ended on December 31, 2020 with Profit after tax of Rs 22.17 billion as compared to Rs 15.23 billion in the corresponding period last year – an impressive growth of 46%. EPS of the Bank increased to Rs 15.67 per share against Rs 10.77 per share in December 2019 on the enhanced capital of Rs 14.147 billion   The Board approved 20% (Rs 2.00 per share) final cash dividend for the year, bringing the total payout for the year to 60% (Rs 6.00 per share) as 40 % (Rs 4.00 per share) interim cash dividend was paid in addition to 10% bonus shares issued during the year.

Deposits of the Bank closed at Rs 1.25 trillion – 35% up from December 2019.  Meezan Bank is now the fifth largest bank in Pakistan in terms of deposits. The Bank has a network of 815 branches and 880 ATMs in 248 cities across the country and its Mobile Banking App has been consistently ranked as the No.1 Mobile Banking App in Pakistan by both Apple Store and Google Play Store.

Meezan Bank has recently been recognized as the Best Bank in Pakistan at the Pakistan Banking Awards – the most prestigious recognition in Pakistan’s banking sector. The Bank was also recognized by the CFA Society of Pakistan as Best Bank of the Year 2019 in the Large Sized Banks category at its Annual Excellence Awards ceremony held in October 2020.