President candid interview Management Accountant Journal.
Karachi October 22, 2021: President & CEO SME Bank, Dilshad Ali Ahmad, talks about few of the major problem faced by the SME sector and how these could be resolved. View complete interview
SME Bank opens Booth for IB Employees Cooperative Housing Society in Gulberg Greens
Islamabad, July 9, 2021: SME Bank Ltd. has opened first Permanent Booth of its Islamabad Branch (Blue Area) at IB Employees cooperative Housing Society (IBECHS) Gulberg Greens. The opening ceremony was attended by senior executives of IBECHS and the Bank.
The Booth has been opened specially to cater for the needs of society members by offering services of instalments, Govt taxes and Utility bills collection.
SME PayPak Debit Card Launched
Islamabad, September 9, 2020: SME Bank Ltd has launched its first payment scheme, PayPak, Debit Cards that is “SME PayPak Debit Card”. The newly launched Debit Cards provides SME Bank’s customers the convenience of use at merchant terminals and ATM machines across Pakistan. SME PayPak Debit Card contains an embedded microchip, based on worldwide accepted EMV standard, that provides advanced security as compared to the traditional magnetic strip card.
Migration of ATM infrastructure from MNET to 1Link
Islamabad, March 30 2019: SME Bank has successfully migrated its ATM infrastructure from MNET to 1Link. Speaking at the occasion President & CEO, SME Bank Ltd, appreciated the efforts of all stakeholders in making this project successful and expressed confidence that the use of PCI certified switch of 1Link shall provide further assurance to SME Bank’s customers about the security of their data and financial transactions.
SME Bank signs Agreement with 1link (Pvt.) Ltd.:
This signing will help SME Bank accomplish SBP’s vision to promote financial inclusion and financial awareness in Pakistan while growing its outreach to the underserved communities. This membership will also enable SME to issue PayPak EMV debit cards to its account holders which will be personalized at 1LINK Perso Bureau. SME customer-base consisting of small and medium entrepreneurs will get convenience and quick access to their funds through 1LINK network.
SME Bank signs Agreement with VRG (Pvt.) Ltd.:
Speaking at the occasion, President & CEO, highlighted that the greatest challenge of today in banking industry is to address mobility apart from information security and the signing of this agreement shall enable SME Bank to launch innovative products & services not only for its niche but for a broader market segment thereby contributing effectively and efficiently towards the economic development of Pakistan.
SME Bank signs Memorandum of Understanding with MobiDirect (Pvt.) Ltd.
Islamabad, May 28, 2018: President & CEO SME Bank Ltd. signed a Memorandum of Understanding (MOU) for digital payments, processing & switching services with MobiDirect at SME Bank’s Head Office, today.
Speaking at the occasion, President & CEO SME Bank emphasized that this MoU shall be instrumental in enabling SME Bank not only to provide better services to its niche market but also channelizing SMEs banking activities thereby contributing towards National Financial Inclusion objectives. The President & CEO expressed the confidence that the recent signing of MoUs, with MobiDirect & Virtual Remittance Gateway, and subsequent expected agreements with these PSOs/PSPs shall be the cornerstone for the future growth of the Bank and SME Bank’s contribution in developing SME Sector of Pakistan.
SME Bank’s UDRU website launched
Islamabad, March 28, 2016: SME Bank has formally launched its URDU website as per directives of the Government. This site has been developed after thorough consultation with all stake holders. Since URDU language implementation in Financial Sector is in its infancy therefore it is expected that changes shall be made frequently in the contents.
SME Bank’s new website launched
Islamabad, September 10, 2015: SME Bank’s new website has been officially launched today. This website has been designed and developed, as per instructions of President & CEO [Mr. Ihsan ul Haq Khan], to reflect the vibrancy in SME Bank’s services and operations. Development of this website has been completed after a long process, nearly one year, with active contribution from all the business heads.
SME Bank launches SMS Alert service
Islamabad, February 23, 2015: President & CEO, SME Bank Ltd., formally inaugurated the SMS Alert service. Speaking at the occasion the President shared his vision to launch more technology enabled products for SME Bank’s customers. The President hoped that the launch of SMS Alert service shall facilitate the Bank’s customers to manage and monitor their accounts more precisely.
SME Bank signs MOU for branchless banking with U Microfinance Bank Ltd
Islamabad, November 28, 2014: Small & Medium Enterprises (SME) Bank today signed a historic Memorandum of Understanding (MOU) with U Microfinance bank here at the Ufone Headquarters, today.
The MOU was signed by Mr. Ihsan ul Haq Khan, the President & CEO SME Bank Ltd. and Mr. Arif Sirhindi, President, U Microfinance Bank Ltd. Mr. Abdul Aziz, President and CEO, Ufone also attended the ceremony along with senior officials of the three partnering organizations i.e. SME Bank Ltd., U Microfinance Bank Ltd and Ufone Pakistan.
Under the MOU, the SME Bank would launch mobile wallet services for the SME entrepreneurs with the collaboration of U Microfinance Bank and Ufone Pakistan.
The launch of the proposed services would enhance the outreach of SME services to the far flung areas of the country, and open new vistas of development of Small and Medium Enterprises (SME) Sector in the country.
World Bank’s Team Visits SME Bank
Islamabad, September 9, 2014: A delegation of World Bank headed by Ms. Ann Christine Rennie visited SME Bank Ltd. to have input from the Management of SME Bank on World Bank’s assignment for developing National Financial Inclusion Strategy for Pakistan. Mr. Ihsan ul Haq Khan, President SME Bank Ltd., briefed the World Bank Team about SME Bank and exchanged ideas with them for inclusion in the National Financial Inclusion Strategy for Pakistan.
Ms. Ann Christine Rennie appreciated the ideas provided by SME Bank’s team and hoped that their input shall help them to develop a meaningful strategy.
SME Bank’s New Website Launched
Islamabad, January 31, 2013: President & CEO SME Bank Ltd. launched the revamped website of SME Bank Ltd. The new website has been designed specifically to cater for the needs of SME Bank’s specialized customers. The new website has many interactive forms to expedite the process of information exchange between the customers and the Bank.
New President & CEO assumes office
Islamabad, June, 02, 2014: Mr. Ihsan-ul-Haq Khan has taken over charge as President & CEO of SME Bank Ltd. He has replaced Mr. Nasser Durrani.
New President & CEO joins SME Bank’s Team
Islamabad, March 09, 2011: Mr. Ihsan-ul-Haq Khan has taken over charge as President & CEO of SME Bank Ltd. He has more than thirty five years of experience and has held senior positions at different reputable institutes such as Regional Development Finance Corporation, Allied Bank of Pakistan etc. He has replaced Mr. R. A. Chughtai.
SME Card Launched
Islamabad, April 01, 2008; In its endeavor to provide its customers versatile banking option to fulfill their financial needs, SME bank has launched SME Card, a Debit Card which gives its holder unlimited access to his/her current/saving account with a simple swipe at millions of retail shops and ATMs. The card comes with a host of conveniences and benefits enabling it to be accepted at all ATMs and retail outlets around Pakistan. SME Card is easy to operate and can be used on any electronic self-printing POS machine.
New President & CEO joins SME Bank’s Team
Islamabad, March 01, 2007: Mr. R. A. Chughtai has taken over charge as President & CEO of SME Bank Ltd. He has more than forty years of experience and has held senior positions at different reputable institutes such as State Bank of Pakistan, Zarai Taraqiati Bank Ltd. etc. He has replaced Mr. Mansur Khan.
Online Banking Operations
Islamabad, October 12, 2006; SME Bank has started online operations from Orangi and Federal B. Area Karachi. Now SME Bank’s valued customers can operate their accounts from any branch of SME Bank spread all over Pakistan.
SME Bank launches Commercial Banking Operations in Quetta
Islamabad, February 27, 2006; SME Bank has opened its commercial banking branch at M. A. Jinnah road Quetta. With the launch of this branch SME Bank now has a network of ten commercial banking branches spread over all major cities of Pakistan. SME Bank shall soon be opening three new commercial banking branches at Karachi, Lahore and Rawalpindi.
SME Bank launches Basic Banking Accounts
Islamabad, February 25, 2006; SME BANK LTD in order to facilitate and provide basic banking facilities to the low income people in Pakistan has launched a new product called Basic Banking Accounts (BBA). The salient features of Basic Banking Accounts are:
The minimum initial deposit will be Rs 1000.
No profit will be paid.
No limit on minimum balance. In case where balance in BBA remains nil for a continuous six months period such accounts will be closed.
No fee (service charges) for maintaining BBA.
Customers will be allowed a maximum of two deposit transactions and two cheques withdrawals free of charge, through cash/clearing per month.
Statement of account will be issued once in a year.
Customers interested in the Basic Banking Account may immediately kindly contact the branch where they are maintaining their accounts for conversion of their account, or to open a new BBA account, otherwise the account will remain to be treated as regular full service banking account.
SME Bank acquires additional Banking Modules
Islamabad , December 29, 2005; To capitalize on the business opportunities available in the market SME Bank has signed off a deal with PIBAS for the deployment of Trade Finance, Swift, ATM, POS, Inter Branch Banking, Internet Banking. Telephone Banking and Mobile Banking modules at its branches/offices.
These modules shall enhance the banking services already provided by the bank to its customers through its network of nine branches.
During the sign off ceremony President/CEO SME Bank has reiterated that the Bank shall also be opening new branches in the year 2006 along with phase wise deployment of these modules to improve the level and quality of the service offered by the bank to its customers.
PIBAS Banking solution is being used by a number of renowned commercial banks in Pakistan as well as internationally.
SME Bank launches Second Commercial Banking Branch in Karachi
Islamabad, December 16, 2005; Following its footsteps in Lahore, SME Bank has also launched a second commercial banking branch in Federal B Area Karachi to facilitate SME Bank’s customer. SME Bank shall be launching branches at Sialkot and Quetta during December 2005.
Deployment of new software modules
Islamabad , October 18 2005: SME Bank is in the process of acquiring/deploying new software modules. Once this deployment is complete SME Bank shall be able to provide facilities like Trade financing, online banking to its customer. In addition to these acquisitions SME Bank is also extending its branch network and three new commercial banking branches shall be launched soon in Sialkot, Quetta, and Federal ‘B’ Area Karachi (2nd branch in Karachi).
SME Bank’s Contribution for Presidential Relief Fund
Islamabad, October 10, 2005; To help earthquake victims, the bank has decided to contribute rupees one million in Presidential Relief Fund. The said amount will be partially contributed by the employees (regular & contractual) OGIII and above by donating one day basic salary towards this noble cause while the remaining amount will be contributed by the bank itself.
SME Bank launches Second Commercial Banking Branch in Lahore
Islamabad, September 28, 2005; SME Bank as part of its commitment towards SME Sector in Pakistan is expanding its branch network. Launching of Second Commercial Bank branch is a step toward this commitment and shall be followed by launch of further branches all over Pakistan.
Now SME Bank has a network of seven Commercial Banking branches all over Pakistan.
SME Bank Ltd launches commercial banking
Islamabad, August 12, 2005; With grace of Almighty Allah SME bank has launched Commercial Banking Operations at its Islamabad, Karachi, Lahore Branch. Banking at SME Bank is based on one of the leading Banking Software available in Pakistan.
Banking Operations shall be starting by Third week of August at Peshawar, Faisalabad and Gujranwala Branch followed by Sialkot and Quetta.
Islamabad, May 5, 2005; With grace of Almighty Allah SME bank has launched Commercial Banking Operations at its Islamabad Branch. Banking at SME Bank is based on one of the leading Banking Software available in Pakistan.
Banking Operations shall be starting by second week of May at Lahore and Karachi Branch followed by Peshawar, Quetta, Sialkot, Gujranwala and Faisalabad Branch.
Currently the Banking facilities are available to SME Bank¡¯s staff only and shall be opened to General Public from 9-May-05.
SME declared scheduled bank
The State Bank of Pakistan has issued a notification declaring SME Bank a scheduled bank. SME Bank carried out major restructuring in 2004 to prepare itself for this purpose and subsequent privatization, as a viable healthy institution. The bank is expected to commence commercial banking operations from Islamabad, Karachi and Lahore in May 2005.Other branches of SME Bank at Peshawar, Quetta, Sialkot, Gujranwala and Faisalabad are expected to open their doors for commercial banking soon thereafter. SME Bank, as a DFI, declared an after tax profit of Rs. 486 million for 2004 as compared to Rs. 59 million in 2003 which also resulted in an improve credit rating.
SME Bank Ltd, assigned BBB and A-2 Rating
Islamabad, March 10, 2005; JCR-VIS Credit Rating Company Limited has upgraded the medium to long-term rating of SME Bank Ltd. To BBB(triple B) with a ¡°stable¡± outlook from previous BB+ (double B Plus). Short term rating has also been upgraded to A¨C2 (A¨CTwo) from A¨C3 (A¨CThree).
This turn around in the financial position of the bank has been brought about by undergoing a restructuring program. PAT for the year 2004 is almost 14 times higher as compared to the year 2003. SBP has granted Commercial Banking license to the bank and we will soon be commencing commercial banking operations.
The paid up capital of the bank has been increased to Rs.1.1 Billion. The bank has paid Rs. 3.393 Billion to SBP against its liability and adjusted another Rs.3.3 Billion receivable from it. The remaining liability is to be liquidated by 2006. The bank has also successfully implemented a voluntary staff separation scheme as part of the restructuring, under which about 700 employees have been voluntarily severed. A branch rationalization program has also been implemented resulting in substantial savings annually. The bank which has been in profit since its inception has taken these steps to prepare for privatization by the end of June 2006.
SME Leasing Limited assigned BBB+ and A2 Rating
Islamabad, September 1, 2004; JCR-VIS Credit Rating Company has upgraded medium to long term and short term rating of SME Leasing Limited from BBB to BBB+ and from A-3 to A-2 respectively.
CEO SME Leasing Limited Elected in Leasing Association of Pakistan
Islamabad, August 9, 2004; Mr Munawar Suleman (CEO) of SME Leasing Limited has been elected member of Executive Committe of Leasing Association of Pakistan (LAP).
OutSourcing of Recovery Operations
Islamabad , July 7, 2004 ; To optimize the organization’s operation the Recovery Operations Division has outsourced the part of recovery operation of the areas where no bank’s branch exist. It is expected that this decision will reduce the Recovery operations cost by at least 37%. Three firms have been awarded the job .
SME Bank- Shell Tameer MOU Signing Ceremony
Friday, June 18, 2004.
SME Bank Limited and Shell Tameer program have joined hands to strengthen the relationship for promoting young potential entrepreneurs and converting them into successful businessmen by providing technical and financial assistance to viable and bankable proposals.
A ceremony was held to formalize this arrangement at SME Bank Limited Head Office in Islamabad and the SME Bank was represented by Mr. Mansur Khan, President & CEO and Shell Pakistan was represented by Mr. Saleemuddin Ahmed, Director External Affairs. The program manager of Shell Tameer, Ms. Afshan Khan was also present along with the senior management of the bank to witness the occasion.
This Memorandum of Understanding is another step in the same direction. Both SME Bank and Shell Tameer Program have a strong commitment towards the development of entrepreneurial activity to create employment opportunities among the youth of the country by extending their resources towards this noble cause.