/

National Bank of Pakistan

HEAD OFFICE KARACHI.

June20 , 2008

President's Office Circular No.0712008

..
HR FUNCTIONS

Reference President's

Office Circular No. 01/2005 dated January 24,

2005 regarding the captioned subject.

It has been decided that for the sake of consistency, continuity and
better coordination

that senior HR level assignments pertaining to

overseas operations shall be initiated by the Overseas Coordination &

Management

Group

with

the Human

Resource

Management

&

Administration Group.

S. Ali Raza
President

Copy to:
1.
2.
3.
4.
5.

All SEVPs/Chiefs of Groups /Divisions/Wings/Departments at Head Office.

All RCEs, Overseas Operations
All Regional Management Team Members
All Regional Audit Chiefs/Directors NBP Staff Colleges.
All General
Managers/Chief
Managers/Branch
Managers/Operation
Managers (Foreign, Corporate & Domestic Branches)

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To:

Masood Karim Shaikh

Thursday, August 21, 2014 121 PM
Nasir Husain; Zia Ullah Khan; Ghu!am Muhammad Tiwana;

Subject:

FW Information

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Pls info and arrange whatis available m.OB~

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Bangladesh

Syed Azhar Ali

Forensic I~vestigation

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From: Aamrr Sattar

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To: Masood Karim Shaikh
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Subject: fW: Information Required related to Bangladesh Forensic Investigation

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Dear

Following information is required

lnvestiqation

but it is not complete list of infromation that we may required during Forensic

We have reviewed following committee minutes as on August 12, 2014 and minutes of ALCO and Board HR Committee
is partially started Please confirm from Board Secretary the name of Committees that were from 2001 to 2014 as while
reviewing other committees minutes we came across that there rs one Strategic Level
~nd one commi.ttee is
especially formed for Banglai:Jesh Operations
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a)
Risk Committee,
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b) Overseas Committee,
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c)
d)

Management Audit Committee,

Credit, Audit and Risk Committee,

e)

f)

Credit Committee,
Board Audit Committee,

g)

Barad of Directors

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and

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As per our knowledge NBP has carried out 6 internal investigations

(details of which are mentioned in the attached file),1
please resolve following queries related to these investigations
a)
confirm that there are no investigations except those mentioned in the attached file;
b) letters issued to the team leaders of the investigation team to carried out the investigation
(document mentioning their
roles and responsibilities
relating to investigation);
c)
name of the Group Heads, Regional Chief Executive etc. to whom these reports were provided,
d) date on which reports were dispatched and date on which they received the report; and
e)

what actions were taken on the resepctive investigation

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findings.

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Various Group Chiefs etc, have visited Bangladesh like Mr Zuabir Ahmed in early 2009, Mr Imam Baksh, Mr. Shah:Jd
, ,
Anwar Khan,etc
Please provide complete list of people that visited Bangladesh along with their visit reports Also tell to ,~~~~
whom their visits reports were provided and what actions were taken on their findings

In 1091h Board HR meeting dated May 10, 2013, Mr Rafiq Bengali quoted that letters were written to ex-President (Mr
Qamar Hussain and Dr. Asif A Brohi). We have requested these letters earlier as well but Mr. Tiwana told that he is
unable to find these letters. Please provide these letters

{.

~.:)'we have received following two presentation related to Bangladesh. Operations (in soft) Please confirm that there are n~
{)other presentations given by any Groups during 2001 - 2014, if there are any please provide soft copies of presentations
, a)
Audit & Inspection Group presentation to Board Audit Committee dated August 12, 2014, and
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Disciolme \/\ling P&IF~D. HRIVi&AG pr esentauon to ~-3oard HF-( Committee dated r=-erxuary 19 2014.
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P!ease prov de copies of all letters that Bangladesh Central Bank has written, we have only 011e !etter Ref
ElCSDL5_Q~9(CJi2013-1129
dated June 10, 201 ~' Please provide the details of Group Chief, Regions, etc to whom thes
letters wer~ presented
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Please
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also confirm who was responsible to review Bang,aaesh Central

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[email protected] Audit Repor-ts etc. in Head Office

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lease-confirm that there are only three Information Letters related to Business Discretionary
Overseas Operations thus related to Bangladesh
a)
Letter no. OBG I BOP - 2001 dated December 3, 2001,
b) Letter approved 111 BOD meeting held on May 3b, 2013, and
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c)
Letter no. NBP I OBG I CW/ 2014 / BLP dated February 24, 2014
,'

Power related to

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1.

Ple~~:e:Jp~o:r~e the trail of lnfo~~1at1on Lett~r I Men:iorna~um I Circular etc written for Overs:as Operations and a~s]o
/,). those written especially for Bangladesh like one m 2011 tn which sanctioninq rights of Bangladeshw.9s withdrawn
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LO. It wr!I be more appropraite if you asked following information from every Groups of NBP to give in writing along with the
evidence as some conflicts of information rs arising as per our findings
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a) Roles and Responsibilities
related to Overseas Operations from 2001 to 2014,
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b) Name of Group Head and the person directly subordinate to Group Head fr~ 2001 to 2014, and b~~ - o-t~ .. ,
c)
.1.

Any information

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that they want to share with us related to Forens1c1nvestigation

Please provide following details related to people (Pak- based and Bangladesh-based)
people who were posted in Region, Riyadh during 2001 to 2013 e>1)~-a) Brief history of their relationship with Bangladesh, :;;::....

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b)
c)

Branches and tenure in which employees worked:....:J

Details of basic and gross pay, -z)

d)

Details of incentives (loans, increments, bonuses etc ),-z:;)

Details of appreciation letter if any written,
While posting Overseas, Pak-based employees are given Job Descriptions,

e)
f)

g)QOffice letter related to Special Assignment given to Mr. QSM Jehanzeb,

h
Disciplinary actions (if any)>

posted in Bangladesh as well as

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please provide JOs,

and

2. Following information we have requested from Mr. Mashkoor related

received yet
a)
Minutes of the meeting number 4th, 5th, 7th, 17th and 18t11;

to CAR on 11 August, 2014 but no resposneis

b)

Signed minutes copy of meeting number 3rd, 9th, 11t1', 12th, 13th, 20th and 21'1;

c)

TOR of CAR committee presented

d)

Memorandum/ discussion paper placed in the following meetings for the respective agenda items:
1.
2nd Meeting -Agenda item number 3d.
~
2.
5th Meeting -Agenda item number 2"d, 3rd and 4th

in 3rd meeting dated

31 May 2010; and

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3.
4.
5.

gth Meeting - Agenda item number 7th

13th Meeting - Agenda item 5th_
14th Meeting-Agenda item number 3rd, 4th and 5th.

3. Followinq information we have requested from Compliance Department on 07 August, 2014 but no resposne is receiv
yet
a) Copy of circular I office letter I memo number related to formation and reorganization of Compliance Group from 20
to 2013,
b) Organogram of Compliance group from 2001 to 2013 also mentioned approving authority,
c) Terms of Reference of Compliance group from 2001 to 2013 also mentioned approving authority,
d) Agenda paper and minutes of the Compliance Meeting held in period 2001 to 2013,
e) Role of Compliance Group related to Overseas Operations from 2001 to 2013,

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Of'ice1-1 F<es1de11'. Oflrcer 111 l:iarg1aclesl1
trorn 2001 to 2013. what were then Job
Desc110L 011, tu whom .hey were accountable aid
Peopl _ w110 v1si\::d Bc:rngiadesi-1 from 2001 to 20' 3 from Compliance Group and please also provide their visit repo t

r'eopic:

g)
_4

Followuiq 1:lfom1at10:1 we have requested from Mr Abdul Wahid Sethi on 07 August, 2014 but no resposne is received
yet
a) Organogra:n of Audit & Inspection Group from 2001 to 2014 Please also mentioned the meeting number and date
along with the copy of the meeting in which the organograms were approved. Alos mentioned the approving authority

_5.

Follow.
information was requested from you in previous emails dated 5 August 2014 but are still outstanding
a) 16 i regularaties 1clentfied by A&IG on Mr QSM Jei1anzeb
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P:s v c., 1,.\ \

b)

Presentation

to ta~ B,an'. ofJiik'st;n~relat~g

to Bangladesh

~pe~s and presentation

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_6. Following information we have requested from Audit & Inspection Department on 24 July, 2014 but no resposne is
received yet
a) Organogram of Internal Audit & Inspection group from 2001 to 2013,
b) Trail of compliance certificate from 2001 to 2013 (date of compliance certificate received, contents of first complian
certificate, follow-up letter, etc),
c) Terms of Reference I Instructions given to Internal Audit team prior to Audit from 2001 to 2013, and
d) Special Inspection Report on Internal Control & Compliance covering the inspection period 01.07.2004 to 30 06 2
by Syed Ammad \Naheed Hassani, AVP/Team Leader

7. Following information we have requested from Mr. Parvez Rahim (CMG) on 24 July, 2014 but no resposne(}11s
re~ce1ve)
yet
a) Organogram of Credit Management Group from 2001 to 2013, and
b) Soft copies of response received from Bangladesh
m relation to your queries on returns

This list is not exhaustive

and we may need further information as need arises

Prompt response from your side will be highly appreciated

Thanks and Regards,

Yamna Khan
Supervisory Senior
KPMG Taseer Hadi & Co.
Chartered Accountants
Sheikh Sultan Trust Building No. 2
Beaumont Road
Karachi 75530
M
+92 (0) 333 388 0344
T
+92 (0) 21 3568 5847
Fax +92 ~)2135685095
[email protected]
www.kpmg.com.pk

---------~-.

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-c,

;
NBP.

PRESIDENT'S SECRETA.RIAT

National Bank of Pakistap

June2S,20;1.1

Circular Letter

Overseas Banking Group - Delegation of Financial Powers

Re:

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In order to facilitate disposal of day to day expenses, the management has delegated financial powers :to
various execu!Jyes of the b.!lk. As per the "Document of Empowerment", powers under all expenditJre
heads,
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except for a few, vest with the SEVPs/ Group Chiefs.

Mr. Syed Iqbal Ashraf has resigned from NBP and in the interim until a Group Chief for Overseas Banking
Group is approved by the Bank/ SBP, I am authorizing Mr. Shahid Anwar Khan, SEVP/ Group Chief, Credit
Management Group, who is conversant with the working of the overseas network, to approve the davto
day routine expenses pertaining to the OBG and overseas network.
This is to facilitate the smooth
operation

of OBG.

.;,.,

QAMAR HUSSAIN
PRESIDENT

Copy to:
1.
2.
3.

All SEVPs/ Group Chiefs/Divisional

Heads/ Wing Heads/Departments
at Head Office.
All Regional Heads I Regional Audit Chiefs /Director Staff Colleges.
All General Managers/Chief Managers/Branch
Managers/ Operation Managers (Corporate &
Domestic Branches).

National Bank of Pakistan

2nd Floor Head Office, I.I. Chunarigar Road, Karachi Post Box No.4937 Telegrams: "Summit
PABX: 9212100-49 (50 Lines), Ext: 2585 & 2430 Fax No. 9212774
E-mail: [email protected]

mnmm

National Bank of Pakistan

HEAD OFFICE KARACID
President's Office Circular No.

17/ 2011

December
-

'.

16 , 2011

OFFICE ORDER
Mr. M.

Rafiq Bengali. 1SEVP/RCE

(On Contract),

NBP Americas

Region has been appointed as Group Chief Overseas Banking Group,

with immediate effect

We wish Mr. Bengali all success.

Qamar Hussain )
PRESIDENT
Copy to:
1. ALL SEVPs/Group Chlefs/Divlstonal Heads/Wing Heads/Departments at
Head Office.
2. All Regional Heads/Regional Audit Chiefs/Director Staff Colleges.
3. AH RCEs / General Managers/Chief Managers / Branch Managers /
Operations Managers (Foreign/ Corporate & Domestic Branches).

...

National Bank of Pakistan

HEAD OFFICE KARACHI

Re-Organization

Circular No.1

September

:i 9,12013

~~

RE-ORGANIZATION
The existing
Organizational
Structure
has been
re-organized
and
postings/placements
ot Senior Management will come into effect immediately.

following

OPERATIONS GROUP (OPGJ

All Divisions performing functions
jurisdiction
of Operations Group.
Group Chief, Operations Group.
Karachi has been transferred from

relating to of Operations have been integrated under

Mr Nausherwan Adil, SEVP has been posted as
Mr. Mohsin Furqan EVP/Area Audit Chief (South)
Audit & Inspection Group to Operations Group.

ASSETS RECOVERY GROUP (ARG)

Small and Medium Assets Recovery Group shall function as Division of Assets
Recovery Group. Mr. Ziaullah Khan, SEVP, will be the Group Chief of consolidated
Assets Recovery Group (ARG) and will based at Lahore.
LOGISTIC SUPPORT, SECURITY

& ENGINEEERING GROUP (LSS&EG)

All Divisions performing functions relating to Logistic Support, Security & Engineering
will now work as part of Logistic Support, Security & Engineering Group. Mr. Zubair
Ahmed, SEVP has been posted as its Group Chief.
CORPORATE & INVESTMENT

BANKING GROUP (C&IBG)

This Group has been re-stored to its previous status. Mr. Nadeem Anwar llyas, SEVP
has been posted as its Group Chief.
COMMERCIAL

& RETAIL BANKING

GROUP (C&RBG)

The operations of Agriculture Business Division I Consumer & Retail Banking Division
and SME & Commercial
Banking
Division have been integrated as Divisions of
Commercial & Retail Banking Group. Mr. Tariq Jamali, SEVP has been posted as its
Group Chief.
AUDIT & INSPECTION

GROUP (A&IG)

Mr. Imam Bukhsh Baloch, SEVP/Group Chief, Audit & Inspection Group and
report to the Board Audit Committee shall continue as Group Chief, A&IG.
TREASURY MANAGEMENT

GROUP

a direct

(TMG)

Capital Investment Division (CID) is placed under Treasury Management Group.

Mr. Nusrat Vohra, SEVP/Group Chief shall continue as Group Chief of consolidated
TMG.
RISK MANAGEMENT

GROUP (RMG)

Ms. Tahira Raza, SEVP/Group

Chief, RMG shall continue her present assignment.

GLOBAL HOME REMrTANCE

Mr. Khalid

MANAGEMENT GROUP (GHRMG).

Bin Shaheen SEVP shall continue as Group Chief GHRMG.

ISLAMIC BANKING GROUP (IBG)

Mr. Zubair Haider Sheikh,

SEVP shall continue

HUMAN RESOURCE MANAGEMENT

to function

as Group Chief, IBG.

& ADMINISTRATION GROUP (HRM&AG)

The following Divisions shall work as Divisions of the Group:

1.
2.
3.
4.

Training & Organizational Development Division.

Human Resource Division.
Personnel & Industrial Relations Division.
Corporate Social Responsibility Division.

Mr. Qamar Husain, EVP has been assigned the responsibility of overall supervision of
the functions of above Divisiorsof HRM&AG, who will directly report to President.
OVERSEAS BANKING GROUP (OBG)
Mr. Nasir Husain EVP. Risk Management Group has been posted as Group Chief
(Acting), Overseas Banking Group till further orders vice
Mr. M. Rafiq Bengali,
SEVP. The later executive will now focus on tasks assigned to him by the Board.
CREDIT MANAGEMENT GROUP (CMG)
Mr. Wajahat A. Baqai, EVP Compliance Group has been assigned the responsibility of
overall supervision of the functions of all Divisions of CMG. He will directly report to the
President.
COMPLIANCE GROUP (CG)
Mr. Shahzad Ahmed Shami, EVP has been posted as Group Chief (Acting) vice
Mr. Tariq Jarnali SEVP, since posted as Group Chief C&RBG.
FINANCIAL CONTROL DIVISION (FCD)
Mr. Aamir Sattar, EVP/CFO will continue at its present position as C.F.0.
INFORMATION TECHNOLOGY DIVISION (ITD)
Mr. Mahmood Ahmed Siddique, EVP/Divisional
Head, l.T Division.

Head shall continue as EVP/Divisional

LEGAL DIVISION (LD)

Mr. Mohsin Raza Qizilbash, EVP/Divisional Head, Legal Division shall continue as
EVP/Divisional Head, Legal Division.
I wish all success to above Senior Executives of my team in their assignments.
'

Asif Ha an
~President (Acting}

I
Copy to.1.
2.
3.
4.

All
All
All
All

Group Chiefs/Divisional
Heads/Wing Heads at Head Office.
Regional Audit Chief(s)/Directors Staff Colleges..
.
.
Regional Chief Executive!General Managers/Regional Compliance Officers(Domestic/Overseas)
Branch Managers (Domestic/Overseas)

National Bank of Pakistan

HEAD OFFlCE KARACHI.

ORGANIZATIONAL ClRCLJLAR

No.Joj2tJJ4

May76

2014

Rfj,_:::_ ORGANIZATION
POSTNG OF MR. MASOOD KARIM SHAIKH
AS SEVP &: CROUP CH!EF (ON CONTRACT)
NBP, HEAD OFFICE, KARACHI.

This is to inform th:ir Mr. Masood Karim. Shaikh is foining National Bank of Pakistan as Senior
Executive Vice President &. Group Chief.
He has been appointed for the position of Group Chief-Overseas Banking Group. Meanwhile he

'Will also get acquainted with on-going activities of Corporate & Investment Banking Group
alongside Mr. Nadecm Anwar Ilyas (SEVP &: Croup Chief C&lBG).
The addition ol Mr, Shaikh as a senior member of our team will, 1 am sure, add to the value of
services that we will provide ro our clients.
I wish him all success in this new assignment.

Copy to:

l.
2.

All SEVPs/Group Chid(s)/Divisi.onal Heads/ Wing Heads at Head Office.

All Regional I.leads/GM Operarions/Givl Business I GM Credit I GM HR I Director Staff

Colleges/] NMDC
3. All Regional Audit Chiefs/Regtouul Compliance Chief (s).
4. All General Managers/Branch Managers (Foreign i Corporate) Branches.

~~w~v1~

National Bank of Pakistan

HEAD

President's Office Circular No.08/2004

OFFICE

KARACHI.

May 10, 2004

REORGANIZATION OF THE OFFICE OF OVERSEAS COORDINATOR

"The Office of Overseas Coordinator" has been reorganized into "Overseas Coordination &
Management Group", with Mr. Tahir Y aquo, EVP as its Group Chief!
The Organization Chart of Overseas Coordination & Management Group incorporating the
existing as well as additional functions assigned to this Group is appended overleaf
With the above reorganization, I expect enhanced level of synergized management support
to Bank's overseas operations by the Head Office.

s.~
PRESIDENT

Cc:

All Group Chiefs at Head Office.

All RCEs/GMs/Managers of Domestic & Foreign Branches & Offices

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National Bank of Pakistan

HEAD OFFICE KARACHI.

President's Office Circular No.2112008

Reorganization .

'December 29, 2008

I

Overseas Banking Group

In the current global economic scenario it has been necessary to revitalize ~_,overseas
operations on an urgent basis. Accordingly, it has been decided to revamp the existing
Overseas Coordination and Management Group (OC&MG) by making it a full fledged
Group with clear responsibilities of generating business, managing related functions and
improving profitability of the overseas operations. All overseas functionaries/RCEs will
directly report to the Overseas Banking Group.

Mr. Shahid Anwar Khan, SE\YP, Group Chief, Credit Management Group, having
exposure both in domestic as well as international banking operations, is appointed
Group Chief of Overseas Banking Group with immediate effect. He will reframe the
organizational structure of the Overseas Banking Group in consultation with HRM&AG
accordingly.
The abovementioned changes will take place with immediate effect.

S. Ali Raza
President

Copy to.

All SEVPs/Chief of Groups/Wings/Departments at Head Office.

All Regional Management Team Members I All Regional Audit Chiefs I Directors NBP Staff Colleges.
All General Managers/Chief Managers/Branch/Operation Managers (Foreign, Corporate & Domestic Branches).
All Overseas Offices.

National Bank of Pakistan

HEAD OFFICE KARACHI

.,,....
March II>' .20H .

...

Re-Organization
Thefollowlng ortianfzatlonal changes arunnounoedJvl(h lmm!i-ldiate,i.ff~:!

The Qper,atior:is,.Group has been reorg<ijiiz.eq. Th~JI!lvjsed r~sf?onsibilitlespf the

Group will include the core operational functions asJoUows:-

Customer services & Government business

Credit 0perations
.,.,. Treasury settlement
> Internal controls.
}>

Mr. Nausherwan Adil, SEVP has been appointed SEVP/Group 'Chief, 'Operations
Group in place of Dr. As;if A. ,Brohl.

A new Division has been created ni}rnely "Logistic Support & Engine,~rin9>Msiori" to
handle the following functions:

>
>

.t...ogjstlc Support

> Security
Engineering

Mr. Javald Haider ts appointed SVR/Pivisional Head .of this newlycreated IDiVision.
c;ff:le DMsional Head wm temporarily. report , to . (?rolip. Chief,. Cre,dit :~nagEfftjelit
Group. Mr. Haider will take over the new responsJbiljties on the superahn!JEltiOn of
Agha Asadullah, EVP/Divisionaf Head, LS&EO effective April 2, '20'1'1. The
anagement will like. to place its appreciation for,theservlces of Mr.,Agha ASadullah
to NBP.

.Mr. Amer Sldd:iqu1, SEVP/Group Qhief, Cpmmercia),& ~t:1tail Bar:il<lng .,G1oup ha$
indicated his deslre to move. to .lJSA. As .a.J(lf!l,Jlt, . f109ion~l1;~1ce ~~WRa~.has
offered him a position of SEVP/Chlef Representative, Chicago, USA. I would like.'to
thank.Al'T)er for his contribution to the B:ank so far l,\nd C()l)Vey rJ'\Y be$tWiS,hes to him
and his family on his new assignment.

' '
' ...

Dr. AslfA. Btohi, SEVP has been appointed .$EVP/G{oup Cl:)i;l{Qf C<;irpi:nei:cfal'&
Retail Banklng Group in place of Mr. Amer Siddiqui.

Commer~i~I& Retail Banking Group.will compriseoht;ie following

functiolis:- ;

Commercial

)' SME

)- RetfflL
)>.

Agricult1,1re

s,Yo!irQyan<;I.. gt~atet focu~, the

Agriculture Finance Group has been converted fnto a Djvislqn and margecfwitn
. comm~rcia! & Reta(! Banking. Group; Mr. Sheoaryar .Q~~ran.l,. EVP is ~ppointet:J as
.EVP/Oivisia,nal Head, Agriculture 8usiness Division, reporting to the Gtqup ;Ghlef,
To streamline the agriculture financing and provide.

Commercial & Retail Banking Group.

Mr . Pervaiz.Taj f3hat.tj, SVP Is transferreq Xr.omOperation~ (;rC/:upto q'f1~n;ier9,ill &

Retail. Banking Group.
.

Mr.. Ziaull;altl<han, .SEVP

has been appointed SEVP/,GroupGIJief Oft}ss,ats ReVE!ry

Group in place of Mr. Nadeem Anwar llyas. This Group will epntinue to be
responsible for recoveries of NP Ls parked af SAM North, SAM South arii:f at 'regions
. with principal amount of Rs.20 mlltion and above.

Mr. Nadeem Ariwar ltyas, SEVP has been appointed ~s $t'IP/Gro\ip Chief.
.~. /f ''r".
Corporate & Investment Ban~ing Group in pla~eof Sy~ f~bal A.~hraf. This Group A.i~~~~~;,;;.
has also been made responsible for restruotunng of fmanc1.af. tao1htles of corporate !f?
.t~.
customers, in addition to its existing functions.
\~}
~ ; .~1~

J''.. ~.

Confd .. P/2...

(~~"~.'-'-:'/

'~I

Page-2
Mr. Nadeem Anwar llyas will continue to handle the responsibility of PSO to the
President in addition to the abovementioned responsibilities

Syed Iqbal Ashraf, SEVP has been appointed as S_EVP((lroup Chief, Overseas
Banking Group In place of Mr. Shahid Anwar Khan.
_
,
,
1-<L
J
,,,,._

As per the management decision all direct' reports to the President will be based at
Head Office, Karachi. Accordingly, Mr. Shafiq A. Khan, EVP, EVP/Divisional Head
Islamic Banking Division will be based at Karachi.

The existing Public Relations functions of the Bank are being reorganized and given
its priority. Accordingly, a new Division namely "Oorporata Communication OMsion"
has been created reporting to the President. This Division wlll be responsible for the
following functions::;..
Ji>
)-

Public Relations
Print & Electronic Media Coordination
Brand Management

The Divisional Head of this Division will be announced shortly.

Mr. Nasi( Hussain, EVP is posted to Compliance-Group,

HO.

Mr. Yasir lshaq Ansari, SVP, IT Division is re-designated as Deputy CIO and Head of
Project Management Office, Core Banking Application.

Mr. Muhammad Hassan KhaskheH, EVP has been appolnted !=VP/Divisional Head,
Personnel & Industrial Relations Division in place of Mr. Fazal-ur-Behman,
Persopqel Adrnlnistrution Wing, indu,strial Relations Wini;i a,nd ln~tiMfonal Dlsclplir:ie
Wing will report to Mr, Khaskheli. LegaJ Wing has been tr~nsferred'frotn Human
Resource Management Group to the Legal Affairs Division.

Mr. A. Saeed Khan. SVP is transferred

to the Legal Division.

M~. Fazal-ur-Hehman,
EVP is appointed HR Coordinator, 11slama,bad. However, he
will continue the special projects being handled by him.

Mr. Moizuddin
Khan, EVP is appointed EVP/Divislonal Head, Training &
Organizational Development in place of Mr. Muhammad Hanif; EVP. All Sfaff
Colleges including Training Wing, SVP Organization Development & Talent
Management and NBP Library will report to him,

Mr. Muhammad Hanif, EVP is designated as EVP/Coordinatqr, HR Special Projects

based at Karachi. He will continue to' be the Secretary, Board'HR'COminittee.

Mr. Qamar Husain, EVP is appointed EVP/Dlvisional Head, Human Resource

OMsion reporting to the Group Chief, HRM&AG. He will be responsible for Staff
Loans and Welfare Wing, Employees Benefits Wing and SAP HCM project of Core
Banking Application. In addition, Mr. Oarnar will also look after HR Policies &
Projects Wing, HR Overseas functions, Manpower Planning and Succession
Planning on a temporary basis.

Mr. Zla Ahmed Jan, SVP ls appointed SVP/Wing Head, Industrial Relatlons &

from Human Resource Management Group

'

Employee Grievance Wing, HRM&AG in place ot Mr. Mhar Shah J<han.

M,r. Muhammad Afsar, SVP is appointed as SVP/Wing Head, Personnel

Administration Wing, HRM&AG in place of Lt. Col. (Al Afu'ned Nehal Jafri. In
addition, Mr. Afsar will continue to handle his present assignment

Mr. S. Arsalan Sadiq, SVP is appointed SVP/Wing Head, Employee

Management & Payroll Wing, HRM&AG in place of Mr. Muhammad Younus.

Lt Col (A) Ahmed Nehal Jafri, SVP is appointed as Chief Security Officer reporting
tothe Divisional Head, LS&ED.
Cont'd .. P/3 ..

Fund

President Office Clroular

Nqo7/2011

Page-3

Mt. Mazhar Shah Khan, SVP is transferred to Small & Medium Assets Recovery
Group as Head, South Office, reporting to Gr.oup Chief, Sman & Medium Assets
Recovery Group.

All Groups/Divisions
Karachi.

reporting directly to the President

will be based at Head Office,

~t
>I

(Qamar Hussain)

President

~:

The Chief Operating Officer, NBP,

All SEVPs/Group Chief.s/Oivisional
All Regional Heads/Regional Audit
All RC Es/General Managers/Chief
(Foreign, Corporate and Domestic

Head Office, Karachi.

Heads/Wing Heads/Departrnerits, Head Office.
Chiefs/Directors, Staff Colleges.
Managers/Branch Managers/Operation Managers
Offices/Branches).

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---

National Bank of Pakistan

HEAD OFFICE KARACHI.

PRESIVENT'S OFFICE CIRCULAR

N0.1/2002

RE-ORGANIZATIONOF OVERSEAS OPERA TIONS

The present set up of 0.B.G.

and it's field operations is given at Annexure "A" and "B"

respectively. It has been thought for quite sometime that the present structure of Overseas
Operations does not commensurate with growing competitiveness which NBP is experiencing in
international market. The business and operational ability of the overseas operations which are
spread globally is limited due to centralized nature of structure at Head Office which inhibits the
potential and ability of field operations to respond quickly to challenges they are facing in the
International market. Some of deficiencies of the present structure ofOBG are given as under:

1. OBG had no business powers to take credit decisions independently and speedily which

had to be referred either to Credit Group or the Credit Committee, leading to precious
loss of time for overseas field offices due to overlapping and extra layer of authority at

Head Office.
2. The, Audit & Jnspection Wing at OBG did not have the authority to conduct direct
inspections and was merely playing the role of 'Post Office' in arranging reciification
of discrepancies from overseas field offices pointed out through inspections conducted
by Audit & Inspection Group. This Wing was therefore an unnecessary extra layer,

playing a rather redundant role since Bank's overall audit responsibilities are vested
with Audit & Inspection Group.
J. Administration Wing of OBG was working with Administration & Human Resource
Group (A&HR) at Head Office in various matters such as transfer/posting, disciplinary
cases, etc .. This again is a redundant role since the overall responsibility and authority
in such matters are vested with A&HR Group.
4. OBG could not take independent decisions of fund management at overseas branches,
and had to work with Finance Group, thus creating overlapping of this vital task.
Therefore, OBG could not make its own independent business plan for overseas
operations.

There is therefore an urgent need to re-organize the present set up by de-centralizing overseas
operations in order rn make them more pragmatic, and market oriented so that field offices can

concentrate in taking prompt business decisions within a defined set of powers and be able to
grow and effectively compete

in the world market.

To achieve this objective, the 0.B.G.

structure at Head Office needs to be re-organized so that it focuses more on policy making,
support and monitoring, whereas the field structure needs to be made more cohesive, better
---.~~~

""4

,,,...,.i

1"'1,-.nMrrl

::1nP(ll1ate

business and financial powers to run their operations

r:

.. (02) ..

In order to carry out the above objective and remove existing deficiencies, there were two
options:
(a) Delegate greater authority to OBG to run its. overseas operations.
(b) Restructure the overseas operations at Head Office by merging respective Wings of OBG
with their concerned parent Groups at Head Office who already have a defined authority
and to reorganize the field operations by creating four regions exercising greater control

and business powers.

While option (a) above would carry greater risk of overlapping with other Groups at Head
Office, option (b) above was considered to be more balanced, pragmatic and cost effective.
It has therefore been decided to restructure overseas operations in the following manner:

1.

ORGANIZATIONAL SET UP AT HEAD OFFlCE:

Respective Wings of O.B.G. will continue to perform their functions as outlined at Annexure l
and be merged with relevant Groups in Head Office in the following manner:
}'- Overseas HR & Administration Wing headed by Mr. Sabir H. Farooqi,
EVP to be under Administration & Human Resources Group.
~ Overseas Audit Wing to be under Audit Group.
~ Overseas Budget & Business Monitoring Wing headed by Mr. Karim A.
Khan, VP to be under Finance Group.
~ Financial. Institution Wing headed by Mr. Nasheed Ahmed, SVP to be
under Credit Group.
};>- Funds Management Wing headed by Mr. Azizuddin Ahmed, SVP to be
tinder Finance Group.
~ Mr. Tahir Yaqub, SVP will handle Barter, Protocols, Public Sector Loans I
Accounts, World Bank I ADB Loans, Grants and work under Mr. Javed
Mehmood, EVP, Credit Group (Public Sector).
The staff of the above Wings wi II also stand transferred to the respective Groups accordingly.

2.

OVERSEAS FIELD SET UP:

The overseas field operations will be divided into four Regions, each headed by a Regional Chief
Executive as detailed at Annexure "C".
The following executives will be the respective RCEs of Regions given below:
1.

Mr. Asif Hassan, SEVP I Chief ofOBG to be Regional Chief Executive Far East Region.
Mr. Rafiq Bengali SEVP/Reglonal Chief Executive, Americas Region to be Regional
Chief Executive America & Europe.
Mr. Saleem Butt, SVP/Regional Chief Executive Central Asia to continue in his present
position.
Mr. Zubair Ahmed, SVP/Rcgional Chief Executive Middle East, Africa & S. Asia to
continue in his present position.

')

'-'

3.
4.

3.

BUSINESS AND FINANCIAL POWERS:

1.

Revised .and enhanced Business Powers approved by the Board in its meeting held on
20.06.2001 will be exercised by the RCEs, GMs, and Managers of overseas offices
accordingly.

2. RCEs, GMs and Managers of overseas offices will exercise existing financial powers
according to respective grades.
A

11

-. .. ,;.,......,..,. .,"

{")-"&':"''"'~}

0 .. ''_,,...\....,....n

,~1f

,,_,,. .. ,...4-.-.. '~'i-\....:.,....

.. l ....... ~- . . , __ ..... 1 l.. .... J __ ._ ....

,.(03) ..

4.

P.O.

CIR-No,

f/20

REG{QNAL CHIEF EXECOTIVES: ';'

Regional Chief Executives will exercise

business and financial powers and adrninistra

powers in accordance with their respective grades. They will be responsible for affair
branches
and offices falling under their jurisdiction
.

as detailed at annexure\ C" and carry

administrative authority over these Brunches and offices accordingly.

They will have d

administrative reporting line to the President.

To facilitate mo bility for business purposes, RCEs are authorized to travel within their re
(all Cities and States) and Pakistan with pre-advise to Head Office. Similarly inter regional
with mutual concurrence and consultation amongst the ~oncerrted RCEs is also authorized

same manner. They are also authorized to depute any staff in their region for official visits i

same manner. It is understood and requ~ed that RCEs will cx.ercise this auili.o~ity.with~:l:f

and specifically for purpose of monitoring branches and business opportunities in other C

and States. RCEs are also authorized to transfer staff within their respective Region and de
any staff within their Region for additional support. Head Office will be informed of
transfers accordingly.

5. EXPENSES OF REGIONAL OFFICES:

Regional Offices expenses will be distributed amongst the Branches in the same regio

proportion to their share in Regional profit.. Similarly, Rep. Office expenses will also
distributed amongst the Branches falling within the respective Region in proportion to theirs

. in Regional profit. Finance Group will provide MIS Credit to the Regions in order to arrive
fair performance evaluation of the Region.
Henceforth, office accounts of Regional Office America & Europe will be maintained at

New York Branch, office accounts of newly created Regional Office Far East will be mainta

at NBP Main Branch Hong Kong, Regional Office Central .Asian Republic accounts at

Ashgabat and Regional Office Middle East/ Africa & S. Asia Regional Office accounts at ,
OBU Bahrain respectively.

6. COOR,DINATOR AT HEAD OFFICE:

Keeping in view, common geographic business prox.i:mities/interests globally, overseas Regi

Offices are divided into following two groups:

Group A:

This will encompass Regional Offices of Far East, Americas & Europe.

Group B:

This will encompass Regional Offices of Middle East, North Africa, S. Asia
Central Asia.

Matters regarding incorporation of subsidiaries, opening of representative offices and bran

will be handled by the respective RCEs and directly referred to "Coordinator" for suppq
decision.

,.

Mr. Sabir H. Farooqi, EVP will B~ the "Coordinator" who in addition to his present assi
will be responsible for coordination and liaison in matters pertaining to overseas operation.
order to facilitate the efficient functioning of overseas operations he is delegated finan

powers of SEVP with immediate effect. Rcgio11aL:~(lfficcs I Branches will refer their relce

'" (04) ...

TREASURY (MONEY MARKET & FOREIGN EXCHANGE):

7.

Within the new structure, a close coordination with Head Office Treasury Group headed by Mr.
Nusrat Vohra will be made effective. The objective will be for a more efficient allocation of the
Bank's international liquidity as well as to utilize the expertise of the Head Office Treasurer.

8.

OVERSEAS SELECTION COMMITTEE:

The . _p~esent overseas staff Selection Committee (for Pak Based Staff) comprising of Chiefs of
A&HRG, OBG, Audit Group with President as the Chairman, will be modified to include
. Coordinator

of Overseas Offices at Head Office and the relevant Regional Chief Executive whose

input I concurrence will be arranged through telephonic I video interview with candidates I bio-

data. Similarly, transfer of staff back to Pakistan from overseas stations will be made in
consultation with the respective RCEs.

Wings of OBG will stand merged with respective Groups of Head Office in the manner as stated
above with effect from February 18, 2002 except Financial Institution Wing which already
stands merged with Credit Group effective December 13, 2001.

With the above restructuring, I expect greater efficiency and higher business results from our
field offices who can now focus on meeting the global challenges more effectively, backed by

synergised support from Head Office.

4.

(S. ALI RAZA)

PRESIDENT
C.C:

All SEVPs/Head of Groups at Head Office.

C.C:

All RCEs/GMs/Managers of Domestic/Foreign Branches & Offices.

,.

..

,.......,

'

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~~

(~J

National Bank of Pakistan"

HEAD OFFICE KARACHI.

PRESIVENT' S OFFICE CIRCULAR NO .1/2002

RE-ORGANIZATION OF OVERSEAS OPERATIONS

The present set up of 0.B.G. and it's field operations is given at Annexure "A'' and "B"
respectively. It has been thought for quite sometime that the present structure of Overseas
Operations does not commensurate with growing competitiveness which NBP is experiencing in
international market. The business and operational ability of the overseas operations which are
spread globally is limited due to centralized nature of structure at Head Office which inhibits the

potential and ability of field operations to respond quickly to challenges they are facing in the
international market. Some of deficiencies of the present structure of OBG are given as under:

l. OBG had no business powers to take credit decisions independently and speedily which
had to be referred either to Credit Group or the Credit Committee, leading to precious
loss of time for overseas field offices due to overlapping and extra layer of authority at

Head Office.
2. The-Audit & Inspection Wing at OBG did not have the authority to conduct direct
inspections and was merely playing the role of 'Post Office' in arranging rectification

of discrepancies from overseas field offices pointed out through inspections conducted
by Audit & Inspection Group. This Wing was therefore an unnecessary extra layer,

playing a rather redundant role since Bank's overall audit responsibilities are vested
with Audit & Inspection Group.
3. Administration Wing of OBG was working with Administration & Human Resource
Group (A&HR) at Head Office in various matters such as transfer/posting, disciplinary

cases, etc. This again is a redundant role since the overall responsibility and authority
in such matters are vested with A&HR Group.
4. OBG could not take independent decisions of fund management at overseas branches,

and had to work with Finance Group, thus creating overlapping of this vital task.
Therefore, 01:30 could not make its own independent business plan for overseas
operations.

There is therefore an urgent need to re-organize the present set up by de-centralizing overseas
operations in order

to

make them more pragmatic, and market oriented so that field offices can

concentrate.in taking prompt business decisions within a defined set of powers and be able to
grow and effectively compete in the world market.

To achieve this objective, the 0.B.G.

structure at Head Office needs to be re-organized so that it focuses more on policy making,
support and monitoring, whereas the field structure needs to be made more cohesive, better
-- -- _.

~-..i

~01"'""'t"rl

~ri,,.mrn.t~

husiness and financial powers to run their operations

t,

.. (02) ..

In order to carry out the above objective and remove existing deficiencies, there were two
options:
(a) Delegate greater authority to OBG to run its overseas operations.
(b) Restructure the overseas operations at Head Office by merging respective Wings of OBG
with their concerned parent Groups at Head Office who already have a defined authority
and to reorganize the field operations by creating four regions exercising greater control
and business powers.
While option (a) above would carry greater risk of overlapping with other Groups at Head
Office, option (b) above was considered to be more balanced, pragmatic and cost effective.
It has therefore been decided to restructure overseas operations in the following manner:

I. ORGANIZATIONAL SET UP AT HEAD OFFICE:

Respective Wings of O.B.G. will continue to perform their functions as outlined at Annexure T
and be merged with relevant Groups in Head Office in the following manner:
~ Overseas HR & Administration Wing headed by Mr. Sabir H. Farooqi,
EVP to be under Administration & Human Resources Group.
)> Overseas Audit Wing to be under Audit Group.
)> Overseas Budget & Business Monitoring Wing headed by Mr. Karim A.
Khan, VP to be under Finance Group.
);- Financial. Institution Wing headed by Mr. Nasheed Ahmed, SVP to be
under Credit Group.
~ Funds Management Wing headed by Mr. Azizuddin Ahmed, SVP to be
under Finance Group.
);;>- Mr. Tahir Yaqub, SVP will handle Barter, Protocols, Public Sector Loans I
Accounts, World Bank I ADB Loans, Grants and work under Mr. Javed
Melunood, EVP, Credit Group (Public Sector).
The staff of the above Wings will also stand transferred to the respective Groups accordingly.

2.

OVERSEAS FIELD SET UP:

The overseas field operations will be divided into four Regions, each headed by a Regional Chief
Executive as detailed at Annexure "C".
The following executives will be the respective RCEs of Regions given below:
Mr. Asif Hassan, SEVP I Chief of OBG to be Regional Chief Executive Far East Region.
Mr. Rafiq Bengali SE VP/Regional Chief Executive, Americas Region to be Regional
Chief Executive America & Europe.
Mr. Saleem Butt, SVP/Regional Chief Executive Central Asia to continue in his present
position.
Mr. Zubair Ahmed, SVP/Rcgional Chief Executive Middle East, Africa & S. Asia to
continue in his present position.

1.
")

'-'

3.
4.

BUSINESS AND FINANCIAL POWERS:

3.
1.

Revised and enhanced Business Powers approved by the Board in its meeting held on
20.06.20t)l will be exercised by the RCEs, GMs, and Managers of overseas offices
accordingly,

2. RCEs, GMs and Managers of overseas offices will exercise existing financial powers
according to respective grades.
All overseas Offices I Branches will operate within their annual budgets.
)

P.O. CIR.. NtX f/2.ooz..

,.(03) ..
4.

REGI_!)NAL CHIEF EXECUTIVES: -

Regional Chief Executives will exercise business and financial powers and administrative
powers in accordance with their respective grades. They will be responsible for affairs of
branches and offices falling under their jurisdiction as detailed at annexure "C" and carry full
\

administrative authority over these Branches and offices accordingly. They will have direct
administrative reporting line to the President.

To facilitate mobility for business purposes, RCEs are authorized to travel within their region.
(all Cities and States) and Pakistan with pre-advise to Head Office. Similarly inter regional visit

with mutual concurrence and consultation amongst the concerned RCEs is also authorized in the
same manner. They are also authorized to depute any staff in their region for official visits in the
.;1;-tn

same manner. It is understood and required that RCEs will exercise this authority with d1llgence
.

}i(H

and specifically for purpose of monitoring branches and business opportunities in other Cities

and States. RCEs are also authorized to transfer staff within their respective Region and depute
any staff within their Region for additional support. Head Office will be informed of such

transfers accordingly.

5. EXPENSES OF REGIONAL OFFICES:

Regional Offices expenses will be distributed amongst the Branches in the same region in
proportion to their share in Regional profit.. Similarly, Rep. Office expenses will also be

distributed amongst the Branches falling within the respective Region in proportion to their share
in Regional profit Finance Group will provide MIS Credit to the Regions in order to arrive at a
fair performance evaluation of the Region.

Henceforth, office accounts of Regional Office America & Europe will be maintained at NBP
New York Branch, office accounts of newly created Regional Office Far East will be maintained

at NBP Main Branch Hong Kong, Regional Office Central .Asian Republic accounts at NBP
Ashgabat and Regional Office Middle East/Africa & S. Asia Regional Office accounts at NBP
OBU Bahrain respectively.

6. COOR,DINATOR AT HEAD OFFICE:

Keeping in view, common geographic business proximities/interests globally, overseas Regional
Offices are divided into following two groups:
Group A:

This will encompass Regional Offices of Par East, Americas & Europe.

Group B:

This will encompass Regional Offices of Middle East, North Africa, S. Asia and
Central Asia.

Matters regarding incorporation of subsidiaries, opening of representative offices and branches

will be handled by the respective RCEs and directly referred to "Coordinator" for support I
decision .

..

Mr. Sabir H. Farooqi, EVl) will B~ the "Coordinator" who in addition to his present assignment
will be responsible for coordination and liaison in matters pertaining to overseas operations. In
order to facilitate the efficient functioning of overseas operations he is delegated financial

powers of SEVP with immediate effect. Rcgion,ctl~(jtfflce:s I Branches Will refer their relevant

I
... (04) ...

TREASURY (MONEY MARKET & FOREIGN EXCHANGE):

7.

Within the new structure, a close coordination with Head Office Treasury Group headed by Mr.
Nusrat Vohra will be made effective. The objective will be for a more efficient allocation of the
Bank's international liquidity as well as to utilize the expertise of the Head Office Treasurer.

8.

OVERSEAS SELECTION COMMITTEE:

The .P~esent overseas staff Selection Committee (for Pak Based Staff) comprising of Chiefs of
.,

A&HRG, OBG, Audit Group with President as the Chairman, will be modified to include
Coordinator of Overseas Offices at Head Office and the relevant Regional Chief Executive whose

input I concurrence will be arranged through telephonic I video interview with candidates I bio-

data. Similarly, transfer of staff back to Pakistan from overseas stations will be made in
consultation with the respective RCEs.

Wings of OBG will stand merged with respective Groups of Head Office in the manner as stated
above with effect from February 18, 2002 except Financial Institution Wing which already
stands merged with Credit Group effective December 13, 2001.

With the above restructuring, I expect greater efficiency and higher business results from our
field offices who can now focus on meeting the global challenges more effectively, backed by

synergised support from Head Office.

(S&
PRESIDENT

C.C:
C.C:

All SEVPs/Head of Groups at Head Office.

All RCEs/GMs/Managers of Domestic/Foreign Branches & Offices .

..

'"71

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lational Bank of Pakistan

nr.vn
ORGANIZATIONAL

CIRCLJIJ\R

OFFICE KAHACHI

NU.10/20]4

May]6, 2014

.RE- ou. ()/\NlZATlON

PUSTNC Of MR. M/\SDOD KAR!ivl SHAIKH
1\S SEVP &: CROUP CHIEI: (ON CONTRACT)
_t\HP lfEAD QFFICE, KARACHI.

This is to inform that Mr Masood Karim Shaikh is [oining National Bank of Pakistan as Senior
Executive Vice President Sr Group Chief.
He has been appointed f; ir the posirion nf Group Chief-Overseas Banking Group. Meanwhile he
'Will also get acquainted with on-going activities of Corporate &: Investment Banking Group
alongside Mr. Nadccrn Au war lip;, (Sl'.VP &: (;rnup Chief CfalBG).
The addition of Mr. Shaikh as a senior 1T1cn1bc1 of om team will, I am sure, add to the value of
services that we wUJ provide to om clients.
l wish him :ill success in this new assignment

Copy to:
1. All S Ev'Ps/Group Chid( s )/l)1vi~ional He.ads/ \IVing Heads at Head Office.
2. All Regional Hcads/G M Operations/G ivl Business I G ~v1 Credit I GM
Collegesf]N sux:
3. All Regional Audit Chiefs/Regional Compliance Chief (s).
4. All General !v!~ltl:t(;ers/Branc:h \rJan:tg(:rs (Foreign/ Corporate) Branches.

rm. ! Director

Staff

National Bank of Pakistan

HEAD OFFICE

President's Office Circular No.08/2004

K.ARACHI.

May 10 , 2004

REORGANIZATION OF THE OFFICE OF OVERSEAS COORDINATOR

"The Office of Overseas Coordinator" has been reorganized into "Overseas Coordination &
Management Group", with Mr. Tahir Yaqub, EVP as its Group Chief
The Organization Chart of Overseas Coordination & Management Group incorporating the
existing as well as additional functions assigned to this Group is appended overleaf.
With the above reorganization, I expect enhanced level of synergized management support
to Bank's overseas operations by the Head Office.

s.~
PRESIDENT

Cc:

All Group Chiefs at Head Office.

All RCEs/GMs/Managers of Domestic & Foreign Branches & Offices

National Bank of Pakistan

HEAD OFFICE KARACHI.

President's Office Circular No.2112008

Reorganization
Overseas Banking Group

December 29, 2008

r-

.' \
'

In the current global economic scenario it has been necessary to revitalize ~_;overseas
operations on an urgent basis. Accordingly, it has been decided to revamp the existing
Overseas Coordination and Management Group (OC&MG) by making it a full fledged
Group with clear responsibilities of generating business, managing related functions and
improving profitability of the overseas operations. All overseas functionaries/RCEs will
directly report to the Overseas Banking Group.

Mr. Shahid Anwar Khan, SEVP, Group Chief, Credit Management Group, having
exposure both in domestic as well as international banking operations, is appointed
Group Chief of Overseas Banking Group with immediate effect. He will reframe the
organizational structure of the Overseas Banking Group in consultation with HRM&AG
accordingly.
The abovementioned

changes will take place with immediate effect.

S. Ali Raza
President

Copy to:

All
All
All
All

SEVPs/Chief of Groups/Wings/Departments
at Head Office.
Regional Management Team Members I All Regional Audit Chiefs I Directors NBP Staff Colleges.
General Managers/Chief Managers/Branch/Operation
Managers (Foreign, Corporate & Domestic Branches).
Overseas Offices.

National
llEAO

Bank of Pakistan
OFFICE KARACHI

March 16

President Office Circular No.07/2011

, 2011.

Re-organization
The following organizational

changes are announced with immediate. eftect-

The Operations Group has been reorganized. The revised responsibilities of the
Group will include the core operational functions as follows:):>
:.>)l;
)>

Customer services & Government business

Credit Operations
Treasury settlement
Internal controls.

Mr. Nausherwan Adil, SEVP has been appointed SEVP/Group Chief. operations
Group in place of Dr. Asif A. Brohl.

A new Division has been created namely "Logistic Support & Engineering Division" to
handle the following func1tons:);):>
):>

Logistic Support
Security
Engineer[ng

Mr. Javald Haider is appointed SVP/Divlsional Head of this 11.li}Wlt created DiViston.
The Divisional Head .will temporarily :raport;lo
C::.hief, Cr~it, ..
Group. Mr. Halder will take ov~r the new responsibil.itles on tf)es(Jperahnyaon of
Agha Asadullah,
EVP/Divisional
Head, LS&ED etfecfive April 2, .20'1'1. the
Managem13nt will like. to place its appreciation for the services of Mr. ,f.gtia Asadullah
to NBP.

$coyp

ara~eme(it

M.r. Arner Siddiqui, SEVP/Grop Chief, Commercial & Hetait Banking ~roup has
ind.icated his desire to move to USA. As a.result, f,=Iegional .Offloe ~eneas.has
offered him a position of SEVP/Chief Representative, Chicago,usA .. I wo'lild like'to
thank Amer tor his contrfbuuon to the Bank so far and convey my be~! wishes to hlm
and his family on his new assignment

'

Dr. As~ A. Brohi., SEVP has been app~(nte<t.SEVPL~roup

Retail Banking Group in place of Mr. Amer Siddiqui.

Gt}[ef'q}

C.wnm~rc!~I}.

Commercial & Retnil '8anking Group will comprise of the followihQ'funct(o,hs;-

'

J> Commercial
}>.

SME

}>

Ref,9.il

~ Agriculture
To streamline tile agriculture financing and provide syner.gy .ang gr!'!at~r foqs, the
Agriculture Finance Group has been converted Into. a Division aoo rnerg0d'with
commercial;& F\etail Banking Group, Mr. Shetiar~ar Qa1sr?n1, ..E;VP})l,:;B.gPoiqt.e~.!iS
EVP/Divisio.nal Head, Agri.culture Business Division, repqrting :to ttle Gr,o,up;Gfil~f.
Commercial & Ref.all Banking Group.
' .,, ' '

Mr. Pervaiz Taj Bhatti, SVP is transferred from Operatlons>(jr6Llp to Comfoetciaf&

Retail Banking Group.
'
,. ,
"' ' .,.

Mr. Ziaullah Khan, SEVP has been appointed SEVP/Group Gbief of f.ss~ts Recovery
Group in place of Mr. Nadeem Anwar llyas. This G[bUJ) ,will "coriti,oue to be
responsible tor recoveries of NPLs parked at SAM North, SAM South and at regions
with principal amount of Rs.20 million and above.
Mr. Nadaern Anwar llyas, SEVP has been appointed as SEVP/Gro~p Chief,
Corporate & Investment Banking Group in place of Syed Iqbal A~hraf. This Group
has also bsen made responsible for restn,icturing of financial facilities of corporate
customers, in addition to Its existing tunctions.
Confd .. .P/2 ...

Page-2
Mr. Nadeern
Anwar
President in addition

llyas will continue to handle the responsibility

to the abovementioned
responsibilities

Syed Iqbal Ashraf, SEVP has been appointed

as SEVP/Group
Banking Group in place of Mr. Shahfd Anwar Khan.

of PSO to the

Chief,

Overseas

decision
all direct reports to the President will be based at
Head Office, Karachi. Accordingly, Mr. Sha1iq A. Khan, EVP, EVP/Divisional Head
Islamic Banking Division will oo based at Karachi.

As per the management

The existing Public Relations functions of the Bank are being reorgani?~d.and given
its priority. Accordingly, a new Division namely "Corporate Communication Divisio-n"
has been cr.eated reporting to 010 President. This Division will be responsible forthe
following functions>

>
>
l'-

Public Relations
Print & Electronic Media Coordination
Brand Management

The Divisional Head of this Division will be announced shortly.

Mr. Nasir Hussain, EVP is posted to Compliance Group, HO.

Mr. Yasir lshaq Ansari, SVP, IT Division is re-designated as Deputy CIO and Head of
Project Management Office, Core Banking Application.

Mr. Muhammad Hassan Khaskheli, EVP has been appointed EVP/l)iyiSforiaJ Head,
Personnel & lndtrstrlal Relations Division in place of Mr. Fa,zglurR.ehma.n.
Personnel Administration Wing, Industrial Relations Wing and ln'sfifoti'Onal-DiscipliQe
Wing will report to Mr-. Khasktreli. Legal Wing has been fr~msferred from Hurnan
Resource Management Group to the Legal Affairs Division.

Mr. A. Saeed Khan, SVP is transferred from Human Resourcs MahagemenLG'toup

to the Legal Division.

'M~. Fa,z,al-ur-Hehrnan, EVP is appointed HR Coordinator, 11slama:bad>"However;tie

Will continue the special projects ~eing handled by him.

:-

Mr. Molzuddin Khan, EYP is appointed EVP/Divisional Head; 'T(runilig &

Organizational Development in place of Mr, Muhammad . H?nit[ .. EVP:, All 'Staff
Coll.eges Including Teaming Wing., SVP Organi:zation Oevelopment & Talent
Management. and NBP Library will' report to him

Mr. MUh,<;tp:mad Hanif, EVP is des!qn?t~d M EVP/({oorqinatqr, lj,R:;Sp~i,alPr'OJE;(;tS

based at f<atachL He will continue
be the Secretary, Board1HR Cbltlinfttae~

Mr. Oarnar Husain, EVP is appointed E.VP/Dlvlsional Head;. Hilirtiah' 'B,~~tm:e

Division reporting to the Group Chief, HRM&AG. He will be responsibfeFforiStaff
Loaris and Welfare Wing, Employees Benefits Wing and SAP HCM-prl:)J#Ct'.of-Core
Banking Application. In addition, Mr. Oarnar will also look after HF{'P.olicies &
Project$ y..ilng, HR Overseas functions, Manpower Planning and Suocession
Planning on a temporary basis.

Mr.

SVPM'iqg . Head . Pe~SO'}~el

NEinBl''~af~i. In
addition, Mr. Afsar will continue to handle his present assignment
'

to

Zi.a Ahmed Jan, SVP ls appointed $VP/Wing Head,. llJdLiStri(ll'flelaifons

Employee Grievance Wing, HRM&AG in place of Mr. M&:ztiat Sfla!i Khan:

Mr.

Mu~ammad

Atsar,

SVP

is

appointed

as.

Adrninistratlon Wing, HRM&A.G in place of Lt. Col. (R) Ahrhed'

Mr. S, Arsalan Sadiq, SVP is appointed SvP!WJng Head, E171J.>19ee

Management & Payroll Wing, HHM&AG in place of Mr. Muhamm~dYou'nyiL

LL Col (R) Ahmed Nehal Jafri, SVP is appointed as Chiei Secullty Offlcer'repottihg
to the Divisional Head, LS&ED.
Cont'd
.. Pl3L.
;;

Fund

President Office Circular Nqo7/2011

Page-3
Mr. Mazllar Shah Khan, SVP is transferred to Small & Medium Assets Recovery
Group as Head, South Office, repor1ing to Group Chief, Small & Medium Assets
Recovery Group.
All Groups/Divisions reportinq directly to the President will be based at Head Office,
Karachi.

(Qamar Hussain)
President

Copy to:
The Chief Operating Otttcor, NBP,
All SEVPs/Group Chiefs/Divisional
All Regional Heads/Regional Audit
All RCEs/General Managers/Chief
(Foreign, Corporate and Domestic

Head Office, Karachi.

HeadsiWing Heads/Departments, Head Office.
Chiefs/Directors, Staff Colleges.
Managers/Branch
Managers/Operation Managers
Ollicos/Branches).

NBP
_

PRESIDENT'S SECRETA.RIAT

National Bank of Pakistap

.r.

June.2S,20;I.1

,,.
:.

j:t.

/8

G)

Circular

Letter /

Re:

Overseas Banking

.
'

Group - Delegation

of Financial

Powers

In order to facilitate disposal of day to day expenses, the management has delegated
various

executives of the bJ.nk. As per the "Document

financial powersto

of Empowerment", powers un~ditJre

heads, except for a few, vest with the SEVPs/ Group Chiefs.

Mr. Syed Iqbal Ashraf has resigned from NBP and in the interim until a Group Chief for Overseas Bankihg
Group is approved by the Bank/ SBP, I am authorizing Mr. Shahid Anwar Khan, SEVP/ Group Chief, Credit
Management Group, who is conversant with the working of the overseas network, to approve the davto
day routine expenses pertaining
to the OBG and overseas network. This is to facilitate the smooth
operation of OBG.

,;,. '

QAMAR HUSSAIN
PRESIDENT

Copy to:

1.
2.
3.

All SEVPs/ Group Chiefs/Divisional Heads/ Wing Heads/Departments at Head Office.

All Regional Heads I Regional Audit Chiefs /Director Staff Colleges.
All General Managers/Chief Managers/Branch
Managers/ Operation Managers (Corporate &
Domestic Branches).

National Bank of Pakistan

2nd Floor Head Office, I.I. Chunorigar Road, Karachi Post Box No.4937 Telegrams: "Summit
PABX 9212100-49 (50 Lines), Ext: 2585 & 2430 Fax No. 9212774
E-mail: [email protected]

N ational Bank of Pakistan

HEAD OFFICE

President's Office Circular

No.

KARACHI

17/ 2011

December

16 ; 2011

OFFICE ORDER
Mr. M.

Rafiq

Bengali,

SEVP/RCE

Region has been appointed

(On Contract), NBP Americas

as Group Chief Overseas Banking Group,

with immediate effect

We wish Mr. Bengal! all success.

~:
;HussainJ?
~;r
PRESIDENT

Copy to:
1. All SEVPs/Group Chiefs/Divisional Heads/Wing Heads/Deportments at
Head Office.
2. All Regional Heads/Regional Audit Chiefs/Director Staff Colleges.
3.. AH RCEs I General Managers/Chief Managers I Branch Managers I
Operations Managers (Foreign I Corporate & Domestic Branches).

Narionul

iiank of Pakistan

IH: \D OFFICE

Re-Organization Circular

!'!\RACHI

September

No.1

19, 2013

RE-ORGANIZATION
The existing
Organizational
Structure
has been re-organized
and following
postings/placements
ot Senior Management will come into effect immediately.
OPERATIONS GROUP (OPG)
All Divisions performing functions relating to of Operations have been integrated under
jurisdiction of Operations Group Mr. Nausherwan Adil, SEVP has been posted as
Group Chief, Operations Group. Mr. Mohsin Furqan EVP/Area Audit Chief (South)
Karachi has been transferred from Audit & Inspection Group to Operations Group.
ASSETS RECOVERY GROUP (ARG)
Small 'and Medium Assets Recovery Group shall function as Division of Assets
Recovery Group. Mr. Ziaullah Khan, SEVP, wili be the Group Chief of consolidated
Assets Recovery Group (ARG) and will based at Lahore.
LOGISTIC SUPPORT, SECURITY & ENGINEEERING GROUP (LSS&EG)
All Divisions performing functions relating to Logistic Support, Security & Engineering
will now work as part of Logistic Support, Security & Engineering Group. Mr. Zubair
Ahmed, SEVP has been posted as its Group Chief.
CORPORATE & INVESTMENT BANKING GROUP (C&IBG)
This Group has been re-stored to its previous status. Mr. Nadeem Anwar llyas, SEVP
has been posted as its Group Chief.
COMMERCIAL & RETAIL BANKING GROUP (C&RBG)
The operations of Agriculture Business Division I Consumer & Retail Banking Division
and SME & Commercial Banking Division have been integrated as Divisions of
Commercial & Retail Banking Group Mr. Tariq Jamali, SEVP has been posted as its
Group Chief.
AUDIT & INSPECTION GROUP (A&IG)
Mr. Imam Bukhsh Baloch, SEVP/Group Chief, Audit & Inspection Group and a direct
report to the Board Audit Committee shall continue as Group Chief, A&IG.
TREASURY MANAGEMENT GROUP (TMG)
Capital Investment
Division (CID) is placed under Treasury Management Group.
Mr. Nusrat Vohra, SEVP/Group
Chief shall continue as Group Chief of consolidated
TMG.
RISK MANAGEMENT GROUP (RMG)
Ms. Tahira Raza, SEVP/Group Chief, RMG shall continue her present assignment.

~/

GLOBAL

HOME REM!TANCE MANAGEMENT

Mr. Khalid 8111 Shaheen

SEVP shall continue as Group Chief GHRMG.

ISLAMIC BANKING GROUP

Mr Zubair Haider Sheikh,

{!BG)

SEVP shall continue

HUMAN RESOURCE MANAGEMENT

The following

t
2.
3.
4.

GROUP (GHRMG).

to function as Group Chief, IBG.

& ADMINISTRATION

GROUP (HRM&AG}

Divisions shall work as Divisions of the Group:

Training & Organizational Development Division.

Human Resource Division.
Personnel & Industrial Relations Division.
Corporate Social Responsibility Division.

Mr. Qamar Husain, EVP has been assigned the responsibility of overall supervision
the functions of above Divisiorsof HRM&AG, who will directly report to President.
OVERSEAS BANKING

of

GROUP (OBG)

Mr. Nasir Husain EVP. Risk Management Group has been posted as Group Chief
(Acting), Overseas Banking Group till further orders vice
Mr. M. Rafiq Bengali,
SEVP. The later executive will now focus on tasks assigned to him by the Board.
CREDIT MANAGEMENT GROUP

(CMG)

Mr. Wajahat A. Baqai, EVP Compliance Group has been assigned the responsibility of
overall supervision of the functions of all Divisions of CMG. He will directly report to the
President
COMPLIANCE GROUP (CG)
Mr. Shahzad Ahmed Shami. EVP has been posted as Group
Mr. Tariq Jarnati SEVP, since posted as Group Chief C&RBG.
FINANCIAL CONTROL
Mr. Aamir Sattar,

Chief (Acting)

vice

DIVISION (FCD)

EVP/CFO will continue at its present position

as C.F.O.

INFORMATION TECHNOLOGY DIVISION (ITD)

Mr. Mahmood Ahmed Siddique,
Head, l.T Division.

EVP/Divisional

Head shall continue as EVP/Divisional

LEGAL DIVISION (LD)

Mr. Mohsin Raza Qizilbash,
EVP/Divisional
EVP/Divisional Head, Legal Division.

Head,

Legal Division

shall continue as

I wish al1 success to above Senior Executives of my team in their assignments.

Asif Ha an
~President (Acting)

I
Copy to:1.
2.
3.
4.

All Group Chiefs/Divisional Heads/Wing Heads at Head Office.

All Regional Audit Chief(s)/Directors Staff Colleges.
All Regional Chief Executive/General Managers/Regional Compliance Officers(Domestic/Overseas)
All Branch Managers (Domestic/Overseas)

National Bank of Pakistan

HEAD OFFICE KARACHI.
President's Office Circular No.
Subject:

Z.1. /

2004

August 25, 2004

'

Reorganizati~:
.
Merger of tw~Financial Institutions marketing function into
the Overseas~oordination & Management Group (OCMG)
.

Credit & Marketing functions of the Financial Institutions (FI) business, including Trade
Finance and Cash Management I Payments services, has been transferred from the Risk
Management Group (RMG) to the Overseas Coordination & Management Group
(OCMG).
OCMG will now perform both credit processing and marketing functions for our global
institutional customers, while RMG will continue to carry out the final risk appraisal on
FI credit proposals. Thus, the FI risk management and marketing functions have been
duly segregated.
It is expected that the new structure would facilitate maximum co-ordination between FI

marketing and the overseas operations towards generating larger volumes of Trade
Finance and Cash Management I Payments business for both the domestic as well as
overseas networks.
As an exception, loans to leasing companies I modarabas I development finance
institutions and the TFCs advisory I arrangement business will be managed by the
Corporate & Investment Banking Group (CIBG).
'

S.ALIRAZA
PRESIDENT
Copy to:
1. All SEVPs/Chief of Groups/ Wings/ Departments at Head Office.
2. All Regional Business/ Operations Chiefs/ Principal Staff Colleges.
3. All Area Audit Chiefs.
4. All General Managers/ Chief Managers/ Branch Managers/ Operations Managers
(Foreign, Corporate & Domestic Branches).

~~0t)~v1~

National Bank of Pakistan

HEAD OFFICE KARACHI.

Present's Office Circular

No.10/2!J04-

May 15, 2004

REORGANISATION OF THE OFFICE OF OVERSEAS COORDINATOR

Reference is invited to President's Office Circular No. 08/2004 dated 101h May, 2004
relating to reorganization of the "Office of Overseas Coordinator" into "Overseas
Coordination & Management Group" (OC&MG) and Organisation Chart of this Group,
incorporating the existing as well as additional functions assigned to this Group.
It has been noted that there is some misunderstanding in various quarters of the Bank
regarding Overseas Coordination & Management Group and its functions. It is, therefore,
felt necessary to make the position clear as under so as to remove any ambiguities in this
regard:
1)

2) This does not affect the exiting status of overseas RCEs in that:
a) Their administrative, financial and business powers remain unchanged.
b) Administratively, all the overseas RCEs still remain direct reports to the
President.

>

c) As regards the number of functional reporting lines of overseas RCES to

various Groups .at Head Office, these also remain unchanged - with the
only difference that the matters concerning business performance and
funds management (i.e. investment/placement), which were previously
being reported to the Finance Group will henceforth be reported to
Overseas Coordination & Management Group.

S. ALI RAZA
PRESIDENT

AHIR YAQUB
GROUP CHIEF (OC&MG)

Copy to:
1. All SEVPs/ Head of Groups/Wings/Departments at Head Office.
2. All RBCs/ROCs/RRMCs/RCCs/Principals
StaffColleges. ~ .
3. All Area Audit Chiefs.
4. All G~neral Managers/Chief Managers/Managers/Operations Managers/
Compliance Officers (foreign, corporate and domestic branches).

-
National Bank of Pakistan
HEAD OFFICE KARACHI
President's Office CircularNo.11/2012

August 10, 2012.

Re-Organization
Overseas Banking Group (OBG)
The Overseas Banking Group (OBG) has been in transition for the last several years.
Keeping in view,

the current global environment

lessons learnt during the 2002. to ;2012 transitions.
the growth of international units in number
a dedicated focus towards trade finance and deposits
selective markets for loan growth

The Management has decided to restructure OBG in order to have an effective control
and more efficient functioning Overseas Banking Group under the leadership of Mr. M.
. Rafiq Bengali, SEVP/Group Chief, OBG.
While reviewing the International set-up of other peer banks, NBP's ownership, history
and culture has been kept in mind to come to a considered decision
Following initiatives have been taken with immediate effect:

Flattening of the organization structure by removing un-necessary layers .

Setting up of controlling offices for certain regions and regional desks at head
office (where future overseas assignees will be trained).
Overseas group to have its own operations, human resource, treasury, credit &
marketing, finance, IT and credit monitoring functions.
Setting up compliance at the regional level to ensure that overseas business units
must comply with relevant Jaws and regulations.
Setting up audit coordinators at the regional .level to focus on the internal controls
and ensure rectification of audit observations.
Expanding the presence of NBP in other locations i.e DIFC Dubai
Introducing new areas such as "Product Development & Economic Analysis"
within OBG.

In the current competitive and dynamic business environment, it has become imperative
to have more focus on specific business strategies and provide future directions which
will enhance the profitability of our business units, keeping Risk Management in the
forefront.
I expect greater efficiency and higher business results from OBG.

The revamped organogram is attached herewith.

I wish OBG greater success going forward.

c-__

: : f_---.1---1/--~

========----=======,,_J__~~~----Copy to:1.
2.

( Q amar Hussain)
President

The COO and all SEVPs/Chief of Groups/Divisions/\Vings/Departments at

Head Office.
All Regional Heads & General Managers at Regional Offices.
A 11 "R r->airm~l A nrlit

f'hif':fa I Dirf':dms Staff Colleues.

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/OOC::l

National Bank of Pakistan

Riyadh

Branen

NBP-KSA-96/09

Date: 21st December,

2009

Mrf ohir Yaqub

EYP I A.cting Group Chief
Overseas Banking Group
Notional Bank of Pakistan
Head office
Karachi
Dear Sir,
Enclosed p'ease find herewith Bangladesh
De c ernber. 2009 of the uncersig:-ied.
This is for ycur information

visit report from 13th to 18th

and necessary action please.

Besi Regards

Zuboir Ahm~
EVP/Regionol Chief Executive
Middle East, Africa & South Asia Region
CEO, National Bonk of Pakistan
Riyadh, KSA

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/
.Summary
j.

ofthe Regional

Chief

.;

,.

tv1r

Zubair

FEB 15-18, 2009 .

' '

----

EVP/Rq'.1u11al
& South i\sia,

Chief Executive,

or

Pakistan.
.vliddle East, Africa
Rcg1ona.J Headquarters
Ul\lJ Haluain (Saudi
. .Arabia) paid a short visit to Dhabi to overview Nl3P s B~1111-~l~1dcsh
Operation in
between February 15 to 18_ 2009: During the visit his time \Vc\.C.. within the following.
preoccupation
Date/Date

Ahmed,

visit

Executive_(i\1E&SA)'s
. . .. .. .
- .- ....

/ t11 NBl>,
Banglad_~sh Operation, Dhaka,:
./' :-
-
. . . ,.,- --. ~
~ -.- ~ . . . ..
. .,
.

.
Summarv
1 Hs ls(_caj~~1jpg j n ~ b~ D@trP lJipg

N:1t11111:1I

IL111l,

of activities.

JJfficc.. Q ~FF~1r~ ~-1tJ1 :b~~~1 k - s di en t Ml s

-WoHd:Tet{_;td :along'\~'ifh.tvh QS1vt )cfomzeb, G ~1 Dang! ad~h-Oper_fii1cm_
aAa_-;(\iscussed issucs-of.m:ur:aai 1:n'..ei;e::;t <'l!or:12'vvj1}1 matters rclat1ng
recovcr~?ofbank 's {)ntstanding(l::le:)~
.
WorldTeI'Officials
Ahmed. Director,

Finance Advisor
The Management
2009
(2) Visited

fo:

Mr Nm-~2-m. Kfih~afr-(~f',m,.Jh_;:;;-;. ?vfD/iv1ec.Mabrur

\fr FJ.ru~p: I IJ.>r. ;_ \l Jrd \Ir Ka:;imul Hasan
vvc re

ore5c'J~l

of \\tJr\Jlc:

the Bangladesh

1:'

the r~ic-~t::'..'

.. :c-~,.:

Bank (the central

Bank)

accompanied

by

Mr. Jehanzeb.

G:Vf Bangladesh Operation,

met the central bank
officials,
specifically
Mr. .A. TM Nasiruddin, Executive Director.
Discussed
bilateral issues, among others, problems
and prospect of
Nl-3P's Bangladesh Operation including bank's capital maintenance and!
other related issues.

16-02-2009
Monday

Left Dhaka for NBP Chittagong Branch. The RCE alongwith

Mr.Jehanzeb,
GM Bangladesh
Operation 2-0d Mr.Farook Zulfikar
1
lylapagcr Gulshan Branch, met and talked with valuable clients of the
bank. E.nquir~d into various operational developmerit ..and deficiencies:
suggested remedial measures while specially discussed recovery of
; bank's outstanding
liabilities from !'vl/s Asian Poly. J\f/s Nrz Textile
MD Mr.Hossain. who assured of regularizing the account by end l'vfarch
2009.
:

17-02-2009
Tuesdav

Gulshan Branch co see for himself the working atmosphere of,

the officials in the branches. Had spoken with some incumbents and
encouraged development for their standard of working for improvement
of their skills.

'
I

Visited

Met a number of clients of both Dhaka Main Branch and Gulshan '
Branch in the Controlling Office, Gulshan, exchanged views on loan
portfolio ofthe clients.

Summarv
of a ct------ivit
i cx.
-- --
--------
Held n~ct:ti11g
in the Controlling
O!Ticv
onJc1als o t the Dklf.::1 !'vbi:1 Branch a.ul C1ilsl1
things. chcus~c:d th-.: l(illo\\ll1g.

l)av/Datc

~---"----+--~-----------

l 8-02-2009

----

(1)

\\'ednesday

,(iul~han
111

l\1 1;1,

with senior
h, among either

Verbally approved to Seek BIE:l\l's (Ua11gl21cksh

Institute
or
Bank Management) membership
'.) Advised pe riodir ai se11ding of the.olliciu!s
!01 receiving
training :
from the _B!Blvf (in due course).
[
c.--- -- Revision
of
Salar
v
of
the
l
o
cal
sraJT
to
an
acceptable
level.
_ _. - -- - -
-'-
:_ --... ,;:_.:,
, . ,,
.;.,~-.o-..:.;,,...,._~-C:-~--::::.-. __ ~,.:.. ;._.__
d.c Introduction ~ofqr lout! J..qd house ~11i!di11g )i:J?fi)?.che)Tie for
local staff. . . . . . . .....
.
.
.
. .. .
.
a.

----

~i

_...:-><

_..

-!

e.

~-

f.

,,,.a
h
I.

J.

(2)

Advised

to take

vigz:::o1.. :.~ sk;s :U\\tuds rec0\e.ry.of

overdue

loans 2.nJ advances \\1(' s;.:..:ci-t! r;;f.:ccn..:..: re . .\Vs WorldTel

Emphasized
lo::nforcr stfr!1gd1,r1 :n;;. . c\\f L:Rcgufotion.
Ad\1s~d to JJUpl :::.Ii :n:.h .r _., :.' .'~, ;:l;1r l T" :r:(rJ,'.:Ltcture
To adopt new sccurn es;;; .1--.1.,:- .. 1::--, .; re c e ivable s instead of
traditiona: metthd ,,( :-:. ~'._ t.:::c _ -- :-,. . :~;_. f:'~1rerc1es.
Advised the ''P<.:T:.t
-
.crn: sheet.sanctioned
letter
of f2c1l11;e>
..::' -::
Lc::<,i:~L~s.
r,J ch; Regional
Headq uarte rs
Advised the rnanagemcr.: to prepare and send li:;t of required
manpower alongwith their projected cost for approval
the Controlling
Office with
:V!anagcr.
Director,
Finance
Advisor and other officials of A-f/s \VorldTcl Ltd. in presence
of Mr. Jehanzeb. GM and \frtvfonirul Islam, DGM World Tel
management/officials
assured that
they would
submit
repayment schedule on or before 24 Feb 2009 alorigwith
repayment of lump sum amount of initial installment
necessary for consideration ofany rescheduling/restructuring.
l lcld

another

.\fonagi::ig

meeting

Director,

in

General

(J)

..

:--

< ..

00~)

v.

'.l{J

11111'

I' I <I I I 111

: , f 1 l I I I J f 11-! f11J l H

VISIT TO BANGLADESH
I reached Dhaka on
meeting.

4th

(l(l'.11,1,

;I

;U{J(j~J

FROM 04-10-2009 TO 09-10-2009,

Oct at I 0.30 Am,

the day stnrtcd with following scheduled

During the day I have high level meeting with l-xccutivc Member Board BOI Mr.
Abu Raza K1l11I1 regarding the work permit of Designated GM Mr. Aaqib Malik. The
meeting held at 1.30 PM and the I have been informed by the BOI that they have joint
ministrial meeting on 5th October and the matter of GM work permit will be inshallah
resolved. He clearly mentioned that all delay is due to your own Bunk people creating
hurdles by lodging anonymous complains. He further informed that large number of
people from different secretary levels are also pursuing against the case. The meeting
ended with thanks.
On 6th October the Executive Director informed with regrets that on s" morning he
received call from high ups of Home Ministry that not to process Mr. Aqib Malik
case hence we were bound to follow the instructions. His work permit declined, the
Executive director was very much disappointed on the whole scenario and was
regretting at his end.

I visited the Pakistan High Commission on 6th October and have meeting with
Dy.High Commission Pakistan Mr. Afzal Mahmood and commercial attache Mr.
Zulfiqar Younas. I apprised them about the problem faced by bank in obtaining of
work permit of Mr. Aqib Malik Designated GM, tbe High commission assured me
that they will take up the matter with protocol of Foreign office today and will let you
know about out come. On 9th they have informed that they have taken up the matter
through Foreign office Islamabad and called upon the High Commission Bangladesh
, further they informed that they have meeting with Home secretary on l I th October
with sole agenda of work permit of your Executive. They will inform us in due course
of time.

After the meeting the I visited the Main Branch Motijeel Dhaka, the DGM explained
the branch rsition,
I advised him to arrange meeting with all defaulted borrowers on
6th and 8 October in the branch. I showed my displeasure over the branch
envoirments/upkeep. The RCE also addressed all the branch staff and instructed to
work hard and improve their professional competence working in international bank.
Further i inquired from staff about their problems one by one.

On 6111 & 81h October I alongwith Designated GM visited the motijeel -branch and
started meeting with defaulted borrowers since Mr.Jehanzeb (GM)
reported sick
The detail is appended below.Also enclosed is list with regard to B/E, IRS, OD and
Loans list.

Ii

NBP, Dhaka Branch

was

p.3

2UU'.::l

.1

'r .

le ! , 11Ii11

t1 Ii I'

:lO

'.111111

----------

SL

Party's name

Ol

Abdul
Azad
Do

Company

n amc

----

kayurn

Do

I f I I~ f1 D]

Facility

I .i

--

Shara import

OD

Do
Do

TR

Diya Enterprise

TRC2C

iI

Outstanding
on s-: 0-09
69.962

p.4

as

._

_,,
-------~~

Ill

1000 (M)

BG

;']78869

()()'.)l,f,

f1

. ---

40.00
----
17.50

60.588

----<~~

02

Abdul
Azad

Ka yum

8/E

67.901
~----

35.000
Both the accounts rue managed by Mr. Azad, accounts
due to expiry of OD limit and
non payment of TR and B/E. The party has promised with RCE that he will regularize the account by
end of October 2009.

03
04

Motiur

05

Do

Rahman

Do

Medi-Q-Medicals
Pacific
Asia

OD

--
arc irregular

-------

OD

80.00
85.00

86.784
85.477

OD

85.00

87.816

Medicals Ltd

, Koba Electronics

This party has three companies availing moe that 250 million OD facilities 1!11d have large # of
outstanding TRS and B/E , all the accounts are over drawn due to non payment of interest and
overdue bills. The party promised that they will regularize the position of all the accounts by
November 2009.

06

Mu jib

Millennium
Solutions

07

DO

08

DO

OD

20.00

47.703

OD

85.00

101 .230

OD

40.00

46.322

Ltd

Agro
Balanced
Fertilozcr
Win co
International

TR

09.165

111e party is availing financing facilities on three accounts, all the accounts are highly irregular due
to expiry of limits application of interest . The party is in default since long and TR is also
outstanding . The security position also looks short the branch management has informed that
theparty has submitted security documents the mortgage is pending. The part assured RCE that he
will regularize the accounts by November /09
~

09

Aziz
Mr.
Muhammad Bhai

Pharma
Ceuticals Ltd
Ambee

OD
TR

80.00

82.723
39.023

The OD limit as well as large # of TRs are outstanding and irregular . The finance, manger of the
company assured that they will regularize the position of TRS by October and OD limit by
November 09.
"

10

Md. Abkamullah

11

DO

Harb
Trade
International
ExivTrade

OD

35.0

3 7.405

OD

40.00

43.036

J 4

2 CJ

c9

l .! : :1 '.-J

Nil/'

h' I Yflllll

',f/llll

- ----

------

The accounts are irregular,

Taffazal Hossain

Central Computers

OD
TR.

15

Fazzal Hossain

--

the party assured they will rcgular izc tile accounts by October/09
-

14

Com Vallcv Ltd

-- - - -

OD
TR

_:~4;:,:

The Propritor Mr. Saleem of both companies was present , be assured

December. The party is sole distributor of intel computers in Bangladesh ,
facility to the tune of Taka 250 (M) as they have to work on the credit basis
against post dated cheques. The RCE assured that if they regularize the
branch may recommend the part request for enhancement of Tl~ facility.

16
17
18
19

Kishor kinierwal
DO
Do
Do

p. '.::)

l I l I'.) I >l

I fil.U:11J 1 H

TERM LOAN

D.G Knitting
BD Dying
Zipper
Doel sports

OD

OD
OD

5.9
5.25
28.121
27.00

to rcgular ize the accounts by

he informed that they need TR
with whole sallcrs and retailers
position by December 09, the

85.00
80.00
75.00
7.50

86.235

99.969
92.309
9.415

The party is availing various limits under different sister will adjust red that hter concerns, its export
oriented business all the companies are interrelated . All the accounts are highly irregular due to expiry of
limits and non payment of interest. Further there are large# of TRS and B/Es outstanding since long, The
MD of company Mr. Ashok assured that BD Dying account will b adjusted before December 09. egarding
Zipper interest will be paid by December 09. DG knitting has been rescheduled by branch and will be
regularized through export proceeds of the company, similarly deol sports will also be managed by
sposnsors and regularized before December. Further large Ii of B/E are also irregular which Mr. Asbok
assured that he will regularize them very soon.
20

Fakhrul Abcdin

Alpha Concrete Ind

Ltd

Part promised to pay BDT 3.50(M)

21

Dr. Md. Gasuddin

mia

23
24
25
26

Mr. Ferozuddin

British BD

OD

18.50

the A/C

20.386

few days and NC will be regularize within October 109

Housing
OD
Estate
Party will deposit BDT 500,000.00 in October & remainingg
Nur_EAlam
Siddique
DO
Abul hesnet
Pervin Alam

43.50

by Nov/09 & reaming by Dec/09 to regularize

The party assured to deposit interest within

22

OD

Ambag

40.00

43.428
>

amount bv Nov/ 2009

"

Eastern Cenment

OD

70.00

75.829

Nrn-EAlam

OD
OD
OD

10.00
3.350
3.50

1 l.417
4.07
4.268

AJL the four a/cs are irregular due to expiry of limit & non payment of interest. TI1e finance director of tbe
comoanv assured to all a/cs will be regularized bv Nov/09

200~1

11J1 I'

11<1:1

1-

l ,I

I 111 I

---------

27

---

Po lash

--------------

DO
DO

Propel Intcrnation
Airccll

OD
OD

30

DO

International
Mapp le

TR

International
Propel Intl.

TR

31

---------

15.323

I) 00

I ntcmational

28
29

-----

-------

OD

Mupplc

---

--

31) ()()

---

-- -----

I 0.00
----

--

----

---------

-----

1----

--

p.5

;11HOG3

( 111 '. J ( ;(,

: , I I l I I I J I I I< 11 IJ l I 1

..

31.J 68
l 0.34 l
10.566
24.00

All the above a/cs are management by Mr.Polash Ales are irregular due to appl icution ofsep interest further
There are TRs irregular. The party has promised R CE that he will regularize all the a/cs by October /09
--~--

32
33

Vovassr Interprise
Holibest Enerzv

Mr.Ga.lib

DO

OD
OD

80.00
60.00

87.653
62.520

75.00

97.342

The party assured that he will regularize all a/cs Nov/09res

34

Emkav Emernrise

Mostaf

OD

The party has been sanctioned financed against shares of UCB Bank. The a/c is highly ireegular since 2007
due to expiry of limit .non payment of interest. The party ex-CM of central bank of Bangladesh. The en
borrower bas been asked to regularize his ales immediately. The borrower informed that he has litigation
with the Company and the the Court has suspended tmsactions in the compaeny shares. How he will
regularize the ale by Ded09
35

Rafiq

ul

is lam

Hujaifa Enterprises

Mushtaq

TR
B!E

20

(M)

2.4 (M)

The party has promised to regularize the accounts and deposited cheque of R.s.8.9 (M)
and regularize the position by October 2009.
OD
Shakib Enterprises
15 (M)
36
13.906(M)

All the accounts are regular,

37

Etsham ulhaq

party

is performing well.

Cosmos Electronic

OD

15 (M)

LS_J,58 (M)

"
The account is irregular due to non payment of interest , party promised to regularize the
position within October 2009.
38

Mecca Metal

OD
TR

40 (M)

42.739
28-4 (M)

(M)

lilll'

J.'JYll!lll

1111'.11.t.

:.JllJJJJfll~H!JJR

; 1

1utios

p.7

---- ------

The account is irregular due to non payment of September

party promised to regularize the position by October )00').
39

Asif

Apex Leather craft

OD

The account is irregular due to non payment of interest

position within October 2009.

interest

25 (M)

and overdues TR,

25.788 {M)

, part y promised to regularize the

----

40

Tristar Electronics

OD

&

TR
&

Tristar Industries

TR

33 (M)

33.726
2.6 (M)

20

(M)

(m)

The party has promised to regularize the accounts within one week.
41

Asif ArifTabani

Mirpur Ceramics

OD

70 (M)

59.767 (M)

The account is regular, party assured full cooperation to support bank.

42

Maroof

Esha Knitex

OD
B/E
B2B

27.500

28.474.
4.1 (M)
6 (M)

(M)

The party has promised to regularize the od account by October whereas BE & B2B
outstanding party has suggested to adjust the outstanding from their export proceed by
deducting 5 % from the proceeds.
Esha composit
OD
5 (M)
5.181
(M)
43 Maroof
B/E

3.29 (M)

The DGM informed that we will receive S 22000 export proceeds and will adjust partial
BE while remaining balance will be adjusted through export proceeds of the company.

I also visited on 1 October chittgon branch alongwith GM , DGM and Gulshan branch
manager . The main purpose of the meeting was to call upon cornice defaulter and to
regularize the portfolio. The details are as under.

?(J(J'.)

~---~

SL

i1:'1()

---

f1 I 11 '

I'

' '[

rI I)I

'. ; r I l I I ) J

r l 1~ r 1D l r I

..

---

Party's name

Facility

Company name

OJ
~-

Mr.
Mizan
Rahmun

ur

Mis.
Limited

Mas ex

UC Tl<

111111.r;

y,:~~

2l 7Fl8G9

Outstanding
on 5-l 0-09
(M)

p.G

as

167 (M)

Mis. Masex Limited agreed/offered 15% payment of total liabilities before opening of
new Uc (within existing limit) & additional 5% at the time of retirement of new
documents. Regarding release/retirement of new documents party will provide us 25%
margin for creating new TR. Party further assured us sell proceeds of new Uc's goods
will be deposited for adjustment of previous Iia_~~l~i~:s:...
02

Mr. M.A. Hossain

Mis.
Zoha
Knitwear Limited

OD/UC

=rO.OO(M)

63.44 (M)

Mr. M.A. Hossain, Director,M/s. Zoha Knitwear Limited and guarantor of Mis. Asian
poly & Box, Mis. Bright Packaging & Accessories, Mis. N.F.Z. Teri Textile Limited &

Mis. Art Line Packer discussed regarding classified liabilities. Party is discussing with
other company for joint venture for overcoming the present situation and he Stated that all
the irregular I classified loan will be regularized within December, 2009.
'--.__..,

Mr.Belayet Hossain, MD, M/s R.T.T Textile Industries (Pvt.) Limited discussed
their Business proposals.
Mr. Rezewan Shahidi, MD, Mis. Shahidi Trading Corporation Limited discussed

their business proposals.

Mr. Md. Arif, Proprietor, MIS Gulistan Poultry & MJs. Javed Corporation

discussed their business proposals.

Mr. Md. Salim Chowdhry, Proprietor, Mis. Agrani Steel Corporation discussed
their business proposals.

Sbmftted By:

Zubair Ahmed

EVP/Regionol Chief Executive

Mlddle Eost, Africa & South Asia Region
Notional Bank of Pakistan

~------

t<i;/~(~

Riyadh, KSA

OVERSEAS
I

0!11qrn111

"SUMMIT"

No OBG/ADMN/BAHl~AIN/SMBB[)

11!

BANKING
No

IJ71

/129 F.. 9~': /flt!~

I :i:

GROUP
r~10

9213170

s:

9212706

Lr l }- __ 7-S,:; .

The Executive Vice President (HRODD)

HR Management
& Administration Group
National Bank of Pakistan
Head Office
Karachi.

October 23, 2009

-:

The Senior Vice President

Credit Management
Group ~
_ \"'
National Bank of Pakistan j-i..'-1
Head Office
)I ' I0
Karachi.

Dear Sir,
VISIT REPORT TO BANGLADESH - MR. ZUBAIR AHMED,
EVP/RCE, MIDDLE EAST, AFRICA & SOUTH ASIA REGION, BAHRAIN

Kindly find enclosed

Ahmed,

a copy of relevant

pages from the report of Mr. Zubair

EVP/RCE, Middle East, Africa & South Asia Region

Bangladesh

from 4 - 9th0ctober,

action.

ENCLS: (A/A)

2009 for your information

with regard to his visit to

and further necessary

--'.!)~

,/
f.,(1'1

cfJO'.I

I/:

Ill

I I III '

I' I , f I I ) 11

S F1 U D l f ll~ fl 11 l f I

!IU'.J(iC

21 '/OUG~

p.

_,. . f
/
l

~ '

VISIT TO BANGLADESH
I reached
meeting.

Dhaka o n 41" Oct at I 0.30

Am,

the day started

TO 09-10-2009,
with following

scheduled

During the day I have high level meeting with Executive Member Board BOI Mr.
Abu Ra:11\ Khan regarding the work permit of Designated GM Mr. Aaqib Malik. The
meeting held at 1.30 PM and the I have been informed by the BOI that they have joint
ministrial meeting on 5th October and the matter of GM work permit will be inshallah
resolved. He clearly mentioned that all delay is due to your own Bank people creating
hurdles by lodging anonymous complains. He further informed that large number of
people from different secretary levels are also pursuing against the case. The meeting
ended with thanks.
On 61h October the Executive Director informed with regrets that on S'h morning he
received call from high ups of Home Ministry that not to process Mr. Aqib Malik
case hence we were bound to follow the instructions. His work permit declined, the
Executive director was very much disappointed on the whole scenario and was
regretting at his end.

I visited the Pakistan High Commission on 6th October and have meeting with
Dy.High Commission Pakistan Mr. Afzal Mahmood and commercial attache Mr.
Zulfiqar Younas, I apprised them about the problem faced by bank in obtaining of
work permit of Mr. Aqib Malik Designated GM, the High commission assured me
that they will take up the matter with protocol of Foreign office today and will let you
know about out come. On 9th they have informed that they have taken up the matter
through .Foreign office Islamabad and called upon the High Commission Bangladesh
, further they informed that they have meeting with Home secretary on 11 th October
with sole agenda of work permit of your Executive. They will inform us in due course
of time.

After the meeting the I visited the Main Branch Motijeel D~

the DGM explained
the brancb~sition, I advised him to arrange meeting with all defaulted borrowers on
6th and 8 October in the branch. I showed my displeasure over the branch
envoirments/upkeep. The RCE also addressed all the branch staff and instructed to
work hard and improve their professional competence working in international bank.
Further i inquired :from staff about their problems one by one.

On 6th & 81h October I alongwith Designated GM visited the motijeel -branch and
started meeting with defaulted borrowers since Mr.Jehanzeb (GM)
reported sick
The detail is appended below.Also enclosed is list with regard to B/E, TRS, OD and

was

Loans list
NBP, Dhaka Branch

.-

FROM 04-10-2009

'.:J

//
/ 1 4

2 0 0 '.J

SL
Ol

02

Party's

Abdul

I-' I .1'f\Jlli

11111

l ; : . I ( I

'.;f\lJlJJ

f11~f1l!

ll ll '.)

I fl

..

< 'ompnny

n1111H:

------

Abdul

Ka yum

Azad

-----

----

----

-.

Shum import

k11yu111

Azad
Do
Do

nrunc

Limit

OD
TR

Uiya Enterprise

TRC2C

; ' I . !{ 111

r: '. J

p.4

---~-

facility

Do
Do

r: r:

70.00 (M)
---

BG

40.00
17.50

Outstanding
on 5-10-09
69.962

as

60.588

67.901

BfE
35.000
Both the accounts arc managed by Mr. Azad, accounts are irregular due to expiry of OD limit and
non payment of TR and BfE. The party has promised with RCE that he will regularize the account by
end of October 2009.
'

03
04

M otiur Rahman
Do

OS

Do

Me&-0-Medi caJs
Asia
Pacific
Medicals Ltd
: Koba Electronics

OD

OD

80.00
85.00

86.784
85.477

OD

85.00

87.816

This party has three companies availing moe that 250 million OD facilities and have large # of
outstanding TR.S and BfE , all the accounts are over drawn due to non payment of interest and
overdue bills. The party promised that they will regularize the position of all the accounts by
November 2009.

06

Mu jib

07

DO

08

DO

Millennium
Solutions Ltd
Agro
Balanced
Pertilozer
Win co
International

OD

20.00

47.703

OD

85.00

101.230

OD

40.00

46.322
09.165

TR

The party is availing financing facilities on three accounts, all the accounts are highly irregular due
to expiry of limits application of interest . The party is in default since long and TR is al.so
outstanding . The security position also looks short the branch management has informed that
theparty has submitted security documents the mortgage is pending. The part assured RCE that he
will regularize the accounts by November 109

09

Aziz
Mr.
Muhammad Bhai

Pharma
Ambee
Ceuticals Ltd

OD

80.00

TR

82.723
39.023

The OD limit as well as large # of TRs are outstanding and irregular . The finance, manger of the
company assured that they will regularize the position of TRS by October and OD limit by
November 09.
"

10

Md. Ahkamullah

11

DO

Harb
Trade
International
Exiv Trade

OD

35.0

37.405

OD

40.00

43.036

_,,/

//
_.;111 .:1
:

J 4

2 (J (J

'.)

11111

; : 1 '.I

11Yfl!Jll

---

The accounts

14
15

an: irrcgu lar, the party assured they will regularize

------Taff11_7~_!_t?ss~~11

OD
TR

----Fa=I Hossain

Com Valley Ltd

--

-----

..

Central Computers

------

OD

----

lic;!J

'/UH

tile accounts

D.G Knitting
BD Dying
Zipper
Doel snorts

TERM LOAN
OD
OD

OD

(;'.I

p.~

by October/09

6 00
27.50

TR

--

Kishor kinjerwal
DO
Do
Do

;I

--

--

The Proprit.or Mr. Saleem of both companies was present , he assured

December. The party is sole distributor of intel computers in Bangladesh ,
facility to the tune of Taka 250 (M) as they have to work on the credit basis
against post dated cheques. The RCE assured that if they regularize the
branch may recommend the part request for enhancement of TR facility.

16
17
18
19

1111'.lli(;

~if'lUDIARf1Blfl

5.9
5.25
28.121
27.00

to regularize the accounts by

he informed that they need TR
with whole sallcrs and retailers
position by December 09, the

85.00
80.00
75.00
7.50

86.235

99.969
92.309
9.415

"-----'
The party is availing various limits under different sister will adjust red that hter concerns, its export
oriented business all the companies are interrelated . All the accounts are highly irregular due to expiry of
limits and non payment of interest. Further there are large # of TRS and B/Es outstanding since long, The
MD of company Mr. Ashok assured that BD Dying account will b adjusted before December 09. egarding
Zipper interest will be paid by December 09. DG knitting has been rescheduled by branch and will be
regularized through export proceeds of the company, similarly deol sports will also be managed by
sposnsors and regularized before December. Further large # of BIE are also irregular which Mr. Ashok
assured that be will regularize them very $00TI.
20

OD

43.50

to pay BDT 3.50(M) by Nov/09 & reaming by Dec/09 to regularize the A/C

Part promised

21

Alpha Concrete Ind

Ltd

Fakhrul Abedin

Dr. Md. Gasuddin

mia

British BD

OD

18.50

20.386

The party assured to deposit interest within few days and AJC will be regularize within October /09

22

Ambag
Housing
OD
Estate
Party will deposit BDT 500,000.00 in October & remainingg

Mr.F ernzuddin

23

Nur ESiddique

24
25
26

DO
Abu] hesnet
Pervin Alam

Alam

Eastern Cenment
Nur-EAlam

40.00

43.428
>

amount by N~v/ 2009

OD

70.00

75.829

OD

10.00
3.350
3.50

11.417
4.07
4.268

OD
OD

AJl the four a/cs are irregular due to expiry of limit & non payment of interest. The finance director of the
company assured to all a/cs will be regularized by Nov/09

I I I 11 '

(1(1'.J(;(;

:; f I U D l f 11< I\ l J I I I

1-' I 'i'f I IJ I i

21 78858

p.6

27

P<Jlash

28

DO
DO

29

30

----

~---

--

-- ------- ----

--

--

DO

Mapplc
International

OD

Propel Intcrnation

OD
OD

Airccll
International

~ ~----

.-~

~--

..

-----

15.00

15 .323

30.00

31.J 68

10.00

10.341

...
TR

Mapp le
International

31

Propel Intl.

TR.

10.566
----
---

24.00

---

All the above eIc arc management by Mr.Pol ash Ales arc irregular due to application of sep interest further
There arc TRs irregular. The party has promised R CE that he will regularize aJI the ales by October /09

32
33

Mr.Galib
DO

Vovassr Interorise
Holibest Energv

OD
OD

80.00
60.00

87.653
62.520

75.00

97.342

The party assured that he will regularize all a/cs Nov/09res

34

Ernkay Enterprise

Mostaf

OD

The party bas been sanctioned financed against shares of UCB Bank. The ale is highly ireegular since 2007
due to expiry of limit ,non payment of interest. The party ex-GM of central bank of Bangladesh. The en
borrower bas been asked to regularize his a/cs immediately. The borrower informed that he has litigation
with the Company and the the Court has suspended trnsactions in the compaeny shares. How he will
regularize the ale by Ded09
35

Rafiq

ul

is lam

Hujaifa Enterprises

Mushtaq

20

TR
B/E

(M)

2.4 (M)

The party has promised to regularize the accounts and deposited cheque of Rs.8.9 (M)
and regularize the position by October 2009.
Shakib Enterprises

36

All the accounts are regular,

37

Etsham ulhaq

party

OD

15 (M)

13.9D6(M)

15 (M)

l8.l,5& (M)

is performing well.

Cosmos Electronic

OD

"
The account is irregular due to non payment of interest, party promised to regularize the
position within October 2009.
38

Mecca Metal

OD
TR

40 (M)

42.739
28.4 (M)

(M)

;'(JrJ:J

-------"

I II

IIIII'

'' J y f lU 11

~; r1 u lJ l r w 11 I I I I I

--

---

(J(l'.lGG

Asif

Apex Leather craft

OD

p.7

2 l 788t39

- ---

The account is irregular due to non payment of September

party promised tu regularize the position by October 2009.
39

interest and ovcrdues TR,

25 (M)

25.788 (M)

The account is irregular due to non payment of interest , party promised to regularize the
position within October 2009.

40

Tri star Electronics

OD

&

TR
&

Tristar Industries

TR

33 (M)

33.726
2.6 (M)

(M)

20 (m)

The party has promised to regularize the accounts within one week.
41

Asif ArifTabani

Mirpur Ceramics

OD

70 (M)

59.767 (M)

The account is regular, party assured full cooperation to support bank.

42

Maroof

Esha Knitex

OD

27.500

B/E
B2B

28.4 744.1 (M)

6 (M)

(M)

'The party has promised to regularize the od account by October whereas BE & B2B
outstanding party has suggested to adjust the outstanding from their export proceed by
deducting 5 % from the proceeds.
43

Maroof

Esha composit

OD
B/E

5 (M)

5. 18 J

(M)

3.29 (M)

The DGM informed that we will receive$ 22000 export proceeds and will adjust partial
BE while remaining balance will be adjusted through export proceeds of the company,

I also visited on 7dt October chittgon branch alongwith GM , DGM and Gulshan branch
manager . The main purpose of the meeting was to call upon cornice defaulter and to
regularize the portfolio. The details are as under.

I ,1 : '1 (I

.----

------

SL
-~
01

11 111'

y rm

~3 nl

JI)

Party's name
Mr.

Mizan

ur

-------

MJs.

r 111

--

Fucility

Company name

------------------

I r 11~

----

------------~

Mas ex

rI

CJCJ~lCG

-- -- - - -- .. --

UC iv

Limited

Rnhmun
~

[.~ J

21700G~~

Lim.it

Out stand ing

on 5-J 0-09

70.00 (M)

167 (M)

p.O

as

----c-

Mis. Mascx Limited agreed/offered 15% payment of total liabilities before opening of
new Uc (within existing limit) & additional 5% at the time of retirement of new
documents. Regarding release/retirement of new documents party will provide us 25%
margin for creating new TR. Party further assured us sell proceeds of new Uc's goods
will be deposited for adjustment of Erevious liabilities.
-

02

1---

Mr. M.A. Hossain

------------------~-~-----

M/s.
Zoha
Knitwear Limited

OD/UC

50.00 (M)

63.44 (M)

Mr. M.A. Hossain, Director.M's,

Zoha Knitwear Limited and guarantor of Mis. Asian

poly & Box, Mis. Bright Packaging & Accessories, Mis. N.F.Z. Teri Textile Limited &
Mis. Art Linc Packer discussed regarding classified liabilities. Party is discussing with
other company for joint venture for overcoming the present situation and he stated that all
the irregular I classified loan will be regularized within December, 2009.

Mr.Belayet Hossain, MD, Mis R.T.T Textile Industries (Pvt.) Limited discussed
their Business proposals.
Mr. Rezewan Shahidi, MD, M!s. Shabidi Trading Corporation Limited discussed

their business proposals.

Mr. Md. Arif, Proprietor, MIS Gulistan Poultry & M!s. Javed Corporation

discussed their business proposals.

Mr. Md. Salim Chowdhry, Proprietor, Mis. Agrani Steel Corporation discussed
their business proposals.

Ssbratrted By:

Zubair Ahmed
EVP/Regional Chief Executive
Mlddle East Africa & Sou1h Asia Region
National Bank of Pakistan

~--------
~1~r~

Riyadh,KSA

,/
fy
j

iumm a r} .oft he Hegion al C Ii ie f Executive .(ME& SA) 's yis~t ..... :

i

/Jn._~H~l\ 13)1,t]glaJ.e~h Operation, Dhaka,:

-.

- . .

. :.

~ , - ,. ' .

Zubair Ahmed,
\1id<lle East, Africa
Arabia) paid a short
. between February 15
preoccupation:
tvlr

Date/Date

;,;;-i't ~ti~i~:i:r:,

'

- .

fEB J 5-18, 2009~

_,

- . .: .

LV Pmq'.iu11al
Chief I.xecutivc, NaLional Bank of Pakistan, .
& South Asia, Regional Headquarters,
OBU Bahrain (Saudi
visit to Dhaka co overview NBP's Bangladesh Operation in
to 18.- 2009: During the visit .his time was- wi thin the following.

;..: _ :L~-~::.,-_ . 1.5-02-2009

:: ~'.=:~~-.: -: '-:

' . .

Summ arv of activities.

-:He!~ m~etiJJg in 1he .;Q:ntroU_i_ng_Qfflce~.9!:!lsllan with bank's client Mis

Sunday .-.--:="-v,Y-6rld:YeT ~Ltd '.along\;::i!h:~fr QSf.;t .lchirr..zeb, ~Gf.'i :BilligJact~r Oper]ifion.
:
~an_<l:;:i:1$2uo:ssed :i_'ssucs ~Df mLtIUai trt~nesc atong.,,yith matteii]c lating\q'.

c..

:rec-ovcryofba:nk's onts1andin:~fr1es~-

..

. ,_ . ' .

\\'drldTd officials Mr. N;Wct-m"),i~hfa~"~:hm~JbJ.iry: MD)'.1r;:.~tvlabrur

Ahmed. Director \Ir LHu~1.:t' fi.LJ::
:.-\I JnJ \\rK~/imul
Hasan
Finance Advisor vve re orc:'~I'.t 1:~ the r'.h::T'.~..'
The Management
2009.

of \\,\)r\J le. .:c-.~,.:

:, . ':._:

:c:c:~1n~

on the 18 Feb!
'

: (2) Visited the Bangladesh Bank, (the central Bank) accompanied by

Mr. Jehanzeb.
G:V! Bangladesh Operation, met the central bank
officials,
specifically Mr. .!\TM Nasiruddin,
Executive Director.
Discussed bilateral issues, among others, problems and prospect of
. NHP's Bangladesh Operation including bank's capital maintenance and,
other related issues.
16-02-2009
Monday

17-02-2009
, Tuesday

Left Dhaka for !\IBP Chittagong

Branch. The RCE alongwith
Mr.Jehanzeb,
GM Bangladesh Operation and Mr.Farook Zulfikar
Jyfana_gcr Gulshan Branch, met and talked with valuable clients of the
bank. Enquir~ct. im; vario~i~ operational developmentand 'deficiencies.
suggested remedial measures while specially discussed recovery of
. banks outstanding liabilities from l\'1/s Asian Poly. f\Vs NFZ Textile
MD Mr.Hossain. who assured of regularizing the account bv end March
:;
2009_

.
I

I
II

Visited Gulshan Branch to see for himself, the working atmosphere of;
the officials in the branches. Had spoken with some incumbents and
encouraged development for their standard of working for improvement
of their skills.

Met a number of clients of both Dhaka. Main Branch and Gulshan l

Branch in the Controlling Office, Gulshan, exchanged views on loan
portfolio of the c I ienrs

,-

------------- -----------~---J),1V/Datc
Surnm.nv
o l n ct iviti es.
>---~-----+------------------------------------'
--- -----------

18-02-2009
\Vednesday

(l)
Held n~cding
in the Co11trnlli11~ Office
; OltJ(:1als of the Dhaka
M~1i:1 l31:1ul:l1 ~ud Gulshan
[h1ng:< discussed the: l(l\lu\\i11~

.Gulshan with seruor

Branch, among either

to seek f3[1J\l's (Bangladesh

Institute or
111::11ilxr~;h:p.
b. Advised periodical sc:11dir''! ofthe.officials
for receiving trainins ,
from theBl Bivl (in due course)
_
- c !
c. - Revision of Salarv o;-thc local staff to- an acc~otable level.
a.

.. _::.._~:~

,,i ~-

-_, '

Verbally approved
Bank Manag:::menl'1

- - '.d;~":j-;trod-uc,\lori cO r.:ar lo; n and-1;pt~;-;~5,4il~lflg-;lJ?ii'.~~~cb~~i]l~;{()r~

local staff.
e. .Advised to take vig,)roLCs sk;;s :Y\\;;ii:ds r..;~\.~\esy of overdue
loans and advances \\ith s;cci-t! rcfrc?nc-: ,._-, .\1'3 WorldTel.

Emphasized Lo enfrircr strcruph1:.:ii1:~

a
o

Advised to adopt ::<.1i :n..:._h :r :, :.' ,'::' ::'!''!' ;-; :r:~-rJ,;::c1crure_

.
d o f II
T o adopt ncv, sccu:iit- ::':':.:;
.1:_1_
:-::1-:i_ .-r - r c c e ivable s instea.
traditiona: meth,:d ,'(:--. ~~-1;:; _ ., '.- ---_, .. _:'---k f~'-rernes_
'
Advised
the opcr u: :~.: _-- . .: - - _ :-:::: .crn: sheet.sanctioned
letter
of f-,cil1l:c'
__::\c:-_
'.<_'
~L:~'.,>:~L~~r1l tl:e Regional

h_
\_

A\H Rc gularion.

Headquarters

J.

Advised the IT1J1ugrnKr.: to prepare and send list of required

manpower 3[oni-_ with
their projected cost for approval
1

(2)

Ilcld
another meeting
in the Controlling
Office
with
;vlanagi:ig
Director,
General
Manager. Director,
Finance
Advisor and other officials of r.Vs \VorldTcl Ltd. in presence
of 0-Ir. Jehanzeb. G\f and Mr.Monirul Islam, DGM_ WorldTel
management/officials
assured
that they would submit
repayment

schedule

on or before

24 Feb

2009

alorigwith

repayment
of lump sum amount of initial
installment
necessary for consideration of any rescheduling/ restructuring
(J)

...

----

"

_,

2 l

.: C CJ'J

1 ,' :

p.

(I f ,

National Bank of Pakistan

Riyadh

Branch

NBP-KSA-96/09

Date: 21st December, 2009

Mrfohir Yaqub
EVP I A.cting Group Chief
Overseas Banking Group
Notional Bank of Pakistan
Head office
Karachi
Dear Sir,

Enclosed p'ease find herewith Bangladesh visit report from 13th fo 18fh
Dec ernb er. 2009 of the unoersigned.

This is for ycur information and necessary action please.

Best Regards

ZuboirAhm~

EVP/Regional Chief Executive

Middle East, Africa & South Asia Reaion
CEO, National Bank of Pakistan
<r

Riyadh,

KSA

Encl:(a. a)

..
('

_i '\':\ /,A',.t.,
1

PC Bex 6302(,

~l_.:::,

/r

KING -AHll[,

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i;

--,Y

RUAD, AL-GUTHMI

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3UILCf\JG 857. RIYADH

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OVERSEAS
Telegram

"SUMMIT''

Toi

No. OBG/ADMN/BAHRAIN/SMBB[

BANKING GROUP
No

D212729

& 9212845

Fax

No.

9213170

& 9212706

417- _ f<6

October 23, 2009

~

The Executive Vice President (HRODD)

HR Management & Administration Group
National Bank of Pakistan
Head Office
Karachi.

The Senior Vice President

Credit Management Group ~
_ \"'-:IJ'1
National Bank of Pakistan J-i- V...
Head Office
) I '. I'()
Karachi.

Dear Sir,
VISIT REPORT TO BANGLADESH - MR. ZUBAIR AHMED,
EVP/RCE, MIDDLE EAST, AFRICA & SOUTH ASIA REGION, BAHRAIN

Kindly find enclosed

Ahmed,

a copy of relevant

pages from the report of Mr. Zubair

EVP/RCE, Middle East, Africa & South Asia Region with regard to his visit to

Bangladesh

from 4 - 9th0ctober,

action.

ENCLS: (A/A)

2009 for your information

and further necessary

,.
.

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December 12, 2012
Office Note
Visit of Tahir Yaqub, EVP, OBG to Bangladesh Reg: Non Performing Portfolio
In view of the high NPL ratio and further provisioning
required
relating to NBP Bangladesh
operations,
a presentation was made before the SPC to apprise them of this situation and seek
decision on the possible options The SPC in its meeting held on 8th November, 2012 decided
for the third option,
i e_ managing
the present situation
by the OBG together
with the
Group Chief (CMG)_
This option involves renewals
I rescheduling
of accounts
as per
Bangladesh
Bank rules - by allowing waivers of interest strictly on commercial merits of each
case maximum upto the amounts held in Interest Suspense Account & provision already made,
in line with the Bank's policy for domestic loans (that too at the end of complete adjustment I
regularization
of the account) - thus having no impact on the P&L AfC_ It essentially requires
pursuing the borrowers to pay the required down payments in cash, especially prior to year end.
Accordingly, with permission of the President, the undersigned proceeded to Bangladesh
for ten
working days. During this visit, after analyzing the NPL position, 39 accounts were short listed
for the purpose - out of the list of rescheduling done in December, 2011 _ Besides, 22 other
accounts were also pin pointed in the list of NPLs, where the chance of regularization
was
considered possible Many of the customers were out of Bangladesh on business I private trips.
Meetings were held with a number of customers available in Bangladesh, who as a result of
detailed negotiations and persuasion
agreed to make the required down payment in cash
towards regularization I rescheduling of their accounts. Part payments in some of the accounts
were received during this visit, while for the remaining amount, the borrowers promised to
deposit the same before end December, 2012_ A summarized position of these accounts is
enclosed. This phase was completed in eleven working days, i.e. spending one extra day which
may please be confirmed.
Now the recovery of balance amounts needs to be vigorously pursued for realization before end
December, 2012. In addition, efforts are also needed to contact the borrowers of other 22
accounts for the same purpose. Besides, individual rescheduling proposals for all such accounts
are also to be finalized - alongwith 20 rescheduling proposals for the quarter ended
September, 2012 - for which in principle approval has already been given to GM (A),
Bangladesh so as to comply with the local regulatory requirements. This is a quite an elaborate
and lengthy assignment.
The President is therefore
requested to approve visit of
undersigned to Bangladesh for at least 20 working days for the above purpose. This may
require more than one trip. The T AJDA of this visit will be paid by Bangladesh operations as per
Bank's rules.
'

so"

PRESIDENT

Ot3_G, NBP, HO,

October

NBP Bangladesh~

Review

Karachi
5, 2012

of NPLs

Under authorization
of the President,
I visited Bangladesh
in Decc111ber,
2011
and rescheduled
a number of loan and other accounts as per guideline
of Bangladesh
13a11k (BB), i.e the central
bank and per local practice
by extending
expiry dates against clown payments
made in cash /
.i

checks etc. based on merits of each case.

Subsequently, during the course of external audit, I visited Bangladesh

aqain in February, 2012
and was able to successfully
defend the above rescheduling
before oui
xle: nal auditors and
obtain an unqualified opinion.
NBP Bangladesh
management
was asked to vigorously pursue all cases of rescheduling
to
ensure timely receipt of agreed payments
It was also emphasized to simultaneously
ensure
against fresh accretion to NPLs by closely monitming the entire credit portfolio, thus gradually
reqularizinq the portfolio through cash recoveries
Reportedly, due to small recovery in rescheduled accounts and fresh accretion to NPLs etc., BB
during its recent inspection of NBP Bangladesh
operations has viewed the credit portfolio with
disfavor and desired to make provision of USS 35 million, i.e. equal to 25 of the entire portfolio
Initially, BB was asking for provision equal to 40% of the credit portfolio and only after our strong
persuasion and representation,
agreed to reduce it to 25%.
The above is a serious situation, warranting immediate remedial measures to address concerns
of the BB as well as avoid adverse impact 011 NBP Bangladesh balance sheet, to whatever
exter.t possible. Towards this end, the matter was discussed with the Group Chief (OBG) and it
was ::ir~~;er~ci that I should proceed to Bangladesh to
review present position of outstanding
in rescheduled accounts vis-a-vis terms of
rescheduling to assess the quantum of overdue installments,
meet concerned borrowers to discuss reasons for non-payment of agreed installments
and to persuade them to stick to rescheduled plans,
review the fresh accretion to NPLs and
assess real position of f~Pls at present and identify available alternate options for taking
appropriate decision in the matter by the Bank's management
It is therefore requested that I may be allowed to visit Bangladesh for seven working
T !\/DA of this visit shall be paid by NBP Bangladesh
as per Bank's rules.

_;;;=-= ...

fa-~,o/~ {

days

Ol)C;,

fiBP HO, Karachi

l)cccrnber 28, 2011

Office Note
Bangladesh

Operations

As reported by the SVP/GM Bangladesh,

non-performing
loan (NPLs) portfolio as on

- Non Performinq

Por!!S~~~

total credit portfolio ol I sanqlacesh operation

November,
2011 an; c1S under

so"

Total Credit Portfolio

BOT 10,142

Non-Performing
Loan Portfolio
Provision held against above A/Cs.
Amount in Interest Reserve A/C

BOT
BOT
BOT

Million

(US$ 144.89

2,285 Million (US$

360 Million (US$
353 Million (US$

and

Million)

37. 64 Mil ion),

5 14 Million)
b.04 Million)

i e. 22 53%

The NPLs as on 30th November,

2011 indicate an increase of 6 72% over the 301h June 2011
figure. Presently, the NPLs comprise of 91 accounts as under
.
'
Motijheel Branch, Dhaka
Gulshan Branch, Dhaka
Chittagong
Branch

64 Accounts
14 Accounts
14 Accounts

In order to regularize the above accounts, local management of Bangladesh

operations
have
made all out efforts including negotiation
of settlement with the borrowers,
initiation
of legal
proceedings, as well as filing recovery suits in the courts. Subsequently,
Mr. Zubair Ahmed,
SEVP/ex-RCE Riyadh and Mr. Tahir Yaqub, EVP, OBG Head Office also visited Bangladesh
and had meetings with major defaulters, wherein the borrowers confirmed
to make down
payments towards rescheduling
of their loan accounts, but very nominal amounts were received
and the parties are seeking more time. Lately, Mr Rafiq Bengali, SEVP/Group Chief OBG also
visited Bangladesh
and had detailed meeting with the GM and Branch Managers and matters
pertaining
to increasing NPLs, vigorous recovery efforts I remedial actions, adherence
to
prudent lending were discussed
at length and the Branch Managers were directed to refrain
from lending fresh loans.
As a result of these efforts, the following
1)
2)
3)

initiatives

have been taken:

Appointment of a Private Debt Collecting

Agency
Extension in the TR period from 120 days to 180 days
Rescheduling of loan accounts of four borrowers for a total
{US$ 3.26 Million).

amount of BOT 228 Million

The above cases have been submitted to the Credit Group for due diligence
submission to the Credit Committee for its consideration
I approval.

and onward

However, the amount of above four accounts constitutes only 10% of the entire NP Ls. If the
remaining 90% NPLs could not be regularized
before the year end, their category of
classification
will go dowri by another notch and a massive amount of further provisioning
will be
required,
resulting in net loss and a shortfall in the amount of mandatory capital. This wil also
result in an adverse perception
of NBP Bangladesh
operations in the local market, hence
affecting their money market lines' and further aggravating the already tight liquidity position. In
addition, fresh accounts are also likely to be classified
this year due to non-payment
of accepted
bills under the LfCs, as well as TRs owing to adverse economic conditions of Bangladesh
~12

- 2 In order to avoid the grave consequences I minimize the adverse

1111p:HJ
111 terms of further
provisioning, it is proposed that Mr Tahir Yaqub, EVP, OBG may IJc :1lluwl:d tu visit Bangladesh
for seven workinq days with the following mandate His TA/DA wil I)(: paid by NBP Dh'aka
branch
To restructure the classified accounts by allowing waiver of inter st maximum to the extent
of amount of provision already held in the account and amount lying in interest reserve
account - thus having zero impact on the profitabi
lity.
2) Extension in the tenor of Bills and TRs upto from 120 to 210 days and extension in the
expiry of overdraft limits by 6 months

1)

All out efforts will be made to minimize the impact of deterioration in classification
accounts, classification of further accounts, as well as additional provisioning

of exi}ing

h5
S.MR"'~Senrc?Vi~e~P~~~jd,ent

E.~

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PRESIDENT

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Syed Azhar Ali

From:

Sent:
To:

Cc:
Subject:
Attachments:

Muhammad Yaseen Sheikh

Thursday, September 18, 2014 1:00 PM
[email protected];
BUTT Naseer; [email protected]; Mumtaz Rafi
SVP/CM & Chief Executive; nbpkoweanbp.com.hk; Shahzad Ahmad; Shaukat Mahmood;
faisal khan; Ch. Waseef Muhammad Aslam; Wasim; Muhammad IMRAN BUTT;
Muhammad Tariq khattak; [email protected]; Regional Office (CAR); [email protected];
Moinuddin Khan; A.D. Malik; [email protected]; [email protected]; [email protected]; abdul hakeem
Syed Imran Ghani; Syed Azhar Ali; Asif Hussain Somroo
Rate of Conversion of Pak R~pees into US $for the purpose of Fixation of Basic Pay of
Pak-based Employees posted abroad
Rate of conversion of Rupees into Dollar.pdf

Dear Sirs:
Enclosed please find herewith HRM&AG's Letter No. HRM&AG/HRD/OHRS/Rate of
conversion/2014/191, dated September 12, 2014, on the captioned subject, contents of which you
'may find self explanatory, for your information and necessary action.
Regards

MUHAMMAD YASEEN SHEIKH

Overseas HR Section, HR Division,
HR Management & Administration Group,
National Bank of Pakistan
Head Office, I.I. Chundrigarh Road, Karachi.

Eel: As above

National

Bank of Pakistan

Overseas HR Section, HR Division,

H.R. Management & Administration Group, Head Office, Karachi.
Ref: HRM&AG!HRD/OHRS/RATE OF CONVERSION/2014/ I q I

September 12, 2014

. \. ~
The Regional Chief Executive, Central Asian Republics.
The Country Managers, America, Hong Kong, Japan, Bangladesh and Afghanistan.
TheGeneral Mariagers.Prankfurt, Paris, Bahrain and Seoul Branches.

Dear Sirs,

RATE OF CONVERSION OF PAK RUPEES INTO US $ FOR THE PURPOSE

OF FIXATION OF BASICPAY OF PAK-BASED EMPLOYEES POSTED ABROAD
It is noted that in compliance with the directive of the Board of Directors given in its meeting held on
May 03, 2013, on the captioned, subject, conveyed vide Overseas Banking Group's letter
No. OBG/ADMN/RATE OF CONVERSION/SMBB/821, dated June 24, 2013, most of the overseas
branches/offices are calculating different rates of conversion of rupees into US$ for the purpose of
fixation of basic salary of Pak-based staff, which is against the spirit of the above noted decision of the
Bank's Board of Directors.
In order to rationalize and mitigate the same, it has been decided by the Competent Authority at Head
Office that these conversion rates shall now be advised by. HRM&AG, Head Office, during January of
each year.
Accordingly, we give below the rates of conversion of rupees into US$ for the purpose of fixation of
basic salary of Pak-based staff, effective from 01.01.2013, for your meticulous compliance:
01-01-2013 to 31-12-2013
01-01-2014 to 31-12-2014

1 US$= Rs. 93.77

1 US$= Rs. 102.01

It is further advised that after fixation of basic salary of Pak-based staff, the amount of basic pay so
reduced after revision of conversion rate (w.e.f. 01.01.2013) be compensated by way of commensurate
increase in the respective overseas allowance.

I:

f.

All concerned are, therefore, instructed to re-fix the basic pay w.e.f. 01.01.2013 and 01.01.2014
respectively and provide a detailed monthly statement in every individual case showing the amount of

Ii,

Basic Pay and Allowances as on 31.12.2012

w.e.f. 01.01.2013 and 01.01.2014, immediately.

and 31.12.2013

and subsequent changes

Please ensure meticulous compliance.

I:

rI
I''

1:
I

Sincerely~/

(Qamar Husain)
\

E~P/Head (HRM&AG)

Jopy [or information to:

- The SEVP/Group Chief, Overseas Banking Group, NBP, Head Office, Karachi.

in them

OVERSEAS BANKING GROUP

Telegram

SUMMIT'

Tel No. 9212729

s 9212845

Noti<:>nol Bonk of Paldstun

No. OBG/ADMN/RA TE OF CONVERS!ON!SMBB.

The
The
The
The

Fax No. 9213170

s 9212706

ij t--(

June 24,

2013

Country Manager, America, Hong Kong, Japan and Bangladesh

Executive In-charge, Controlling Offices, Central Asian Republics & Afghanistan
General Manager, Frankfurt, Paris, Bahrain, Riyadh and Seoul Branches
Manager, NBP: EPZ Branch, Karachi

Dear Sir,
RATE OF CONVERSION OF PAK RUPEES INTO US DOLLAR
FOR THE PURPOSE OF BASIC PAY OF PAK BASED STAFF
POSTED ABROAD
Kindly find enclosed Personnel Administration Wing, HR Management & Administration
Group, Head Office letter No. HRM&AG/P&IRD/.PAW/OHRS/2013/8039
dated June 04, 2013
conveying decision of the Bank's Board of Directors which has taken in its meeting held on May
03, 2013 on the above referred subject.
In view of above referred decision of Board of Directors, we are taking up the matter
regarding fixation of basic pay of Pak based staff posted abroad with HR Management &
Administration Group, Head Office which will be advised accordingly.
This is for your information please.

ENCLS: (AJA)

( SYED
HR ALI )
SENIOR
CE PRESIDENT

National Bank of Pakistan

Head Office. I.I. Chundtigar Roac.karachl.Ptt

Website:

: 99220100 ( 50 lines}

W\Mll .. nnlHOC>ITI nx

-i

;,W~

NBP

NotiQ'1ol Uank of Pakls't:an

\Y'
Personnel Administration Wing ..
P & IR Division. HR M &Administration Group.

Ref: HRM & AG/P&IRD/PAW/ OHRS/2013/

.f'o J/'

June )', 2013

Mr. S. M. Baqir Bukhari,

Senior Vice President,
Overseas Banking Group
National Bank of Pakistan,
Head Office,

Karachi.
Dear Sir,
RATE OF CONVERSIQN OF PAK RUPEF...S. INTO

lJS DOLLAR

FOR THE PURPOSE OF BASIC PAY OF' PAK BASED STAFF POSTED AB.ROAD

We have to advise that the Bank's Board of Directors in its meeting held on May 3, 2013, has
taken the decision in respect of rate of conversion into US dollar for the purpose of fixation of
basic pay of Pak-based

NBP employees posted abroad, copy of which is enclosed for your

information and onward communication to all concerned.

Regards,

Sincerely yours,

(t.4..~-A
(MUHAMMAD AFSlR)
SVP/Wrng Head (PAW)
Encl: As above

A'lttlbt"1!i'B:mll"ol"'l"b1fiS'ilm'
Head Ollice: I.I. Chundrigar Road, Karachi. Ph: 9212100 (50 lines)
websile; www.nop.com.pk

... t-- .........

~~...-maa~"~

A ,...,.hl"',..,.,..,,,ntl,,

II

: '-

'

PAK iWPEES INTO VS S FOR THE

flJ.!if:.<.lli.1:;~~1' B SlC PAY OF PAK BASED STAFF POSTlW ABROAD
RATE OF<.< >NV l<RSION OF

""

7.i

;'!

~ \~ i\ci;l~ . f /

--~+;

The Board considered HRM & Administration Group's Agenda Paper No. 97/13 dated
03-05-2013 regarding rate of conversion of Pak Rupees into US$ for the purpose of basic
pay of Pak based Staff posted abroad.

7 .2

1;;\ 1
'11

The EVP I Coordinator - HRM&AG informed that the Board in its 2 l 51h meeting held on
27-07-20:12 directed HRM&AG to prepare a comparison taking into consideration the
practice being followed in peer group Banks (HBL, MCB~ and UBL) alongwith rationale
for recommeadatioas" In view thereof, the proposal was deferred for resubmission by the
HRM&AG in a subsequentmeeting through Board HR Committee.

7.3

The EVP I Coordinator - HRM&AG informed the Board that as per directive of the
Board, a study was conducted and the practices of peer group banks were assessed. He
proposed that instead fixing the rate of Pak Rupees with US$ for an extended period 'of
time (as is done presently in NBP), the rate of conversion of rupees into US$ for the
purpose of fixation of basic salary should be determined every year in January on the
basis of average of month end rates during preceding year (12 months - end closing
rates/I 2) rounded down to the tenth place. The SBP mark to market revaluation exchange
rates for authorized dealers to be used for the same. However, the amount of basic pay of
Pak based employees posted abroad so reduced after revision of conversion rate w.e.f
01-01-2013, shall be compensated by way of commensurate increase in their respective
Overseas Allowances. In this way, the escalation in currencies will be mitigated and the
relevant observation of SBP appearing in its report as of 31-12-2011, will also be
rectified.

7.4

The EVP I Coordinator - HRM&AG apprised the Board that the proposal was placed
before the Board HR Committee in its l081hmeeting held on April 30, 2013, which duly
cleared the same for placement before the Board of Directors with the condition that
proposed arrangement shall only be applicable to the currently serving Pak based
employees posted abroad and shall not apply to the officials posted abroad subsequently .

7.5

After deliberation, the Board approved the proposal, by passing the following resolutions:

"RESOLVED THAT the proposal as contained in Agenda Paper No.

97/13 dated 03-05-2013 of HRM & Administration Group, seeking
approval for fixing the rate of conversion of rupees into US$ for the
purpose of fixation of basic salary, be determined every year in January on
the basis of average of month end rates during preceding year (12 months
- end closing rates/12) rounded down to the tenth place by using SBP
mark to market revaluation exchange rates for aufhorized dealers, as
recommended by Board HR Committee, be and is here approved."
"FURTHER RESOLVED THAT the amount.of basic pay of Pak based
employees posted abroad so reduced after revision of conversion rate
w.e.f 01-0 l.-2013, shall be compensated by way of commensurate
increase in their respective Overseas Allowances, subject to condition that
this arrangement shall only be applicable to the currently serving Pak
based employees posted abroad and shall not apply to the officials posted
abroad subseuuentlv."

NBP

National Bonk of Pokiston

Compliance Group

No. SBPIW/Waj/PID-14/ ~S<ts

Friday, August 29, 2014

All Group Chief (s) I Divisional Head (s),

National Bank of Pakistan,
Head Office,
Karachi.
Dear Sir (s),

\ ~
SBP INSPECTION FROM 01-01-2013 TO 30.06.2014
PRE-INSPECTION DATA (APPENDIX-fl

~
.

- ) (\

lJ., tf ~ '1 ~

I II\
/

The State Bank of Pakistan vide there letter # BID (Insp)/21-10/15585/2014 dated/
August 26, 2014 has planned to conduct on-site inspection of our bank from 01-01-2013
to 30-06-2014. In this connection they have advised to provide them Policies I
Documents I Information as detailed in the enclosed lists marked Appendix -1.
Further they have advised that the information asked for in Appendix - I should be made
.
'
available
to them latest by Sep 05, 2014.
We shall appreciate if you please go through the appendices mentioned above and send
us the information I documents pertaining to your Group latest by September 03, 2014.
Soft copy of the information may also be provided where advise
P.
,Your(Werely/

(~

~"~/

;6jYurRehman
Wing Head
Ends: 7 pages of Appendix-I

~ECEIVED

Office of the Gro.up Chief (OBG)

DATE.2 -~
S.No:
INITIAL

?.5f8
(

Head Office: I. I. Chundrigar Road, Karachi. Phone# 99220812 Fax# 9212230

PABX # 9212100-50 (50 Lines) Ext: 2398 & 2333
e-mail: wajih.rehma~~na~:alban_k.~~

--------

~;ps~e: ~~-nbp.com.pk

~~A,..,~'fil\1;.,o
..~~~~~;.~

---------

I:!_

_TIME~! le P'1
~
I

c--

Pre-Inspection Data I Information on Corporate Governance

[Inspection Period from 01-01-2013 to 30-06-2014]
Please note that the data is required in soft copy except wherever correspondence file is required.
(1)

Board, Board Committees, Management Committees and Policies

I.

Composition of Board of Directors as of 30-06-2014 and any changes made during the period under
review.------

Directorship in
Experience
other
companies
5
6
1
2
4
3
2. Detailed profile of each director/key executive containing his/her qualifications and experience
including their CVs.
3. Terms of reference, job description, salary and terms and conditions of Advisor to
Chairman/Directors, if any including approval of appointment.
4. List and numbers of various Board's sub-committees and management committees along with details
on the following formats:
Name of
Directors

Designation Date of Appointment

Qualification

Sr.
No.

Name of
Committee

Constituted by
BoD/Management

Composition (Names,
designation &
responsibi Iities)

Number of times
committee met during
the inspection period

Date of
Formation

Financial
Powers
(If any)

Terms of
Reference

To Rs
approved by

Date of
Approval

10

5. Approved TORs, agenda package and minutes of all the meetings of all the above committees.
6. Agenda package and Minutes of all meetings of Board of Directors held during the period under
review.
7. Details of agenda items which were deferred in more than three board I board committees meetings.
Besides, also provide the resolution of these agenda items along with their date of resolution.
8. Details of any board or management level committees dissolved during the inspection period.
Besides, also provide the reconstitution of members in each committee.
9. Copy of resolutions passed by the BODI Board sub-committees/ management committees through
circulation during the inspection period.
JO. Mechanism for compliance and follow up of decisions I instructions of Board and its Committees.
11. Operational and financial powers of various Committees, executives and officers of the bank for the
period under review.
12. List of all the reports submitted to BOD, on regular basis, on the following format:

s\ No. I

Nature ~f Report

Frequenc~ of Report

13. List of all the reports submitted to BOD's sub-committees on regular basis (Separate list for each

committee on the above format)

Page I of7

Appendix-~
List of all the reports submitted to Management Committees on regular basis (Separate list for each
committee on the above format)
15. Details (List) of statements generated regularly for higher management.
16. Details of set up of IT infrastructure.
j
17. List I possibilities of reports generated under the MIS
------18~.-A~genda
Items and Minutes of the meetings of AGM/EOGM held during the period under review.
19. List of pending issues among the agenda items of Board meetings as of 30-06-2014 along with date
of first presentation to the Board.
- ---20. Details of all allowances I fees I benefits I out-of-peeket-expenses paid to each director along with
number of meetings attended during the inspection period. (Please provide item wise details).
21. Details of any expense incurred on the directors other than mentioned in above point.
22. Extracts of Board meeting minutes where core values and Vision/ Mission statement of the bank
were approved.
23. Job Descriptions/responsibilities of the members of the board of directors and key executives along
with the extract of the minutes of the board meetings in which job descriptions were approved.
~4. Detail of the mechanism to review the performance of the overseas operations (if any).
25. Extract of Board and AGM/EOGM minutes wherein current fees & remuneration of the board
members including the chairman/vice chairman of the bank were approved.
26. Detail of penalties levied by the local or any of the overseas regulator on bank or any of its
subsidiary.
27. Copies of all the presentations delivered to Board and Board Committees during the inspection
period.
28. Risk Appetite Statement along with review of benchmarks set in the Statement.'
29. Details of KPis of the bank approved by the board. Besides, also provide the extracts of board
meeting minutes where these KPis were discussed.
,,rlO. Detail of mechanism to allocate business targets.
11
31. Deta~l of the mechan!sm to rev!ew performance of the committees by the board.
~
32. Detail of the mechanism to review performance of the management by the board.
33. Head office system for monitoring the performance of various administrative groups and branches.
34. Describe the performance appraisal system in the bank. (A brief summary is required)
35. Copies of Annual Appraisal of regional audit heads, Head of Internal Audit, CFO and Company
Secretary for the year 2013.
~, 36. Approved copies of performance appraisal sheets of key executives for the year 2013.
~. 37. Detail of all types of bonuses paid to the key executives during the inspection period along with
approval of the same and executive wise detail of amount paid.
~ 38. Please provide detail of executive who were allowed special bonuses and/ or special increments
- during inspection period.
39. Extracts of bank's Board approved policy for conducting 'management audits'. Provide list of
departments, management audits of which were conducted during inspection period.
40. Copies of all the circulars issued by the bank regarding 'close period' before announcement of
annual/ interim financials during the inspection period.
41. Copy of Insider Trading Policy approved by the board along with details of employees who have
violated this policy during the inspection period (if any).
42. Transaction-wise detail of all the bank's shares sold/ purchased by executives/ directors and reported
to company secretary during the inspection period along with date and amount of purchase/ sale and
date of reporting the sarpe to company secretary.
43. Responsibilities and Functions of any Special Projects Group.
____ 4"'"'_4~Detail
~.
of all the expenses incurred by the bank on Board Chairman/ Advisor to Chairman I Board
and any of bank's directors, Chairman Secretarial and Security Staff of the board I chairman board I
advisor, during the inspection period. The detail should contain the individual heads of all the
expenses including expense incurred on travelling, remuneration for attending meetings, travel

~a:,v/

?
r

Page 2 of7

Appendix-I
expenses including boarding & lodging, utilities expenses, security vehicles,
payments, salaries and bonus to secretarial staff, rent paid on chairman offices.

security guards

45. Copy of latest Succession Plan of bank along with date of approval from Board.

tJ{( 46. Details of President's Ex-Pakistan leaves availed during the inspection period along with
copy of letters forwarded to SBP, BPRD for information.
.
~
47. Detail of all the qneries raised hy.different monitoring authorities (SBP,.NAB, FIA etc)
and responded by compliance during the period under review. (Actual query and bank's
response)

48. Detailed copies of allJh~~rres_pondence with SBP/SECP/KSE/Share Registrar. A~rovide the

copy of correspondence by the Head office with the regulators of host countries in case of having
overseas operations.
49. Implementation status of the issues pertaining to corporate governance on last SBP Inspection
Report.
,

~- 50.

All correspondence of the bank with SBP regarding compliance of last inspection report on
the issues of corporate governance.

51. Reports of grave/serious irregularities detected by the internal audit in various branches during the

period under review and submitted to the concerned authority in head office and action taken there
.against, .
52. Detail of actions taken by the board/board audit committee on the basis of serious grave
irregularities pointed out by the internal audit department of the bank, if any.
53. Loans and Advances to insiders other than staff loans given under the bank's policy as per following
format. (Insiders defined as directors, executive officers, employees and interests thereof).
Rs in Millions)
Sr.#
Share in Total
Name of Nature of
Amount O/S as on
Date of
Amount
30-06-2014
Insider Loans
Insider
Disbursement
Facility
Disbursed
Principle

M. up

(%)

54. Management letter and Internal Control Memo from the external auditors for the year ended 3 l-12201~.
5 5. Copies of the self-assessment of internal control system of the bank, if any
56.

Detail of shareholding as of 30-06-2013, 31-12-2013 and 30-06-14.

57. Details of shares of the bank held by Board members and employees as of 31-12-2013& 31-12-

2012.The detail should also contain the date of purchase of shares.

58. Detail of subsidiaries & Associate of the bank as of31-12-2013 & 30-06-2014.
59. Copy of the employment contract signed by the bank with current President I CEO of the bank.

60:

'
~r6 I.
r
o

62.

~~y.

63.
64.
65.
66.

Besides, also provide the extract of board minutes wherein employment contract of CEO was
approved.
Dates and minutes (extracts) of meetings of Board Audit Committee with external auditors in absence
of CFO & head of internal audit and meeting with internal auditors in absence of CFO & external
auditors.
Copies of reports on internal controls system and significant audit findings for all the quarters of year
2013 and 2014.
Complete breakup of all the expenses/ remuneration paid to external auditors including audit fee,
d
special certification and sundry services fee an out-of-pocket expenses etc. for the years 2013 and
2014.
Detail of all functions outsourced by the bank. Please provide copies of SLAs along with the approvals
of the competent authority obtained in this respect.
Provide copy_of approval obtain_ed from SBP relating to outsourcing of any of activitylfimction,.-itany.

Details of due diligence of outsourced services providing companies conducted by the bank
before outsourcing the functions.
Copy ofICAAP document submitted by the bank to SBP.
Page3of7

Appendix-I
67. List of Policies I Manual formulated by the bank on the following pattern:

Sr.
No.

Name of
policy/Manual

Formulated by
Person I Deptt.

I
I

Dat~

1
2
3
4
68. Detail of amendments m the policies/manuals
following format:

Last Reviewed by

Approved by

..

Authority I Date
8
7
I
approved during the inspection period on the
A .

LL-

'~

~at-e

Approved by

Sr.
No.

Name of
policy/Manual

Nature of amendment

Authority

I
I

Date

}9. Details of all policies which were presented to the board but were deferred. The detail should contain

E) ~

the name of policy, date of presentation in Board and date of board meeting in which respective
policy was finally approved.
~
70. Detail of the mechanism to report exceptions/deviation in policies to board or any of its committee.
~
71. Details of all exceptions/ deviations from Board approved policies presented to Board on periodical
basis.
'fl~- 72. Details of all the 'exceptions/ deviations' from the approved policies obtained by different

departments/ groups of the bank during inspection period along with name of 'exceptions'
approving authority' for each case.
'17/#-e 73. Details of exemption I relaxation obtained from SBP/SECP/KSE in any matter.
j1#z

f/eP

74. Provide latest list of zero tolerance exceptions in policies, if defined by the bank.
75. Detail of mechanism to circulate SBP circulars/instructions within the bank.

(2) Related Party Transactions

1.
2.
3.
4.

5.
6.
7.
8.
9.

------

Describe the process being followed by the bank to determine, identify and report the related party
transactions.
Please provide the detail of executives/employees responsible to ensure consolidation and reporting
of the related party transactions.
Please explain the pricing methods for the related party transactions along with the details of
approving authorities.
Does the BOD review all related party transactions on individual basis or only transactions on
consolidated basis are submitted by the management for board review? Please provide copies of all
the 'related party transaction' reports submitted to the Board during the inspection period. Also
provide copy of approval of all individual related party transactions
Copies of all Related party statements submitted to SBP as required under BSD circular No. 02 of
2012.
Agenda papers, memos, notes or any other working papers related to above transactions presented to
Board of Directors or its subcommittees.

ls any format being used by the bank to obtain details of the related parties?
Does the bank mark the related party transactions in core banking?
Details of all the leasing,. renting and sale I purchase of any kind with the directors and employees of
the Bank or their family members. Please also provide the details of any guarantees issued in favor
of them.
------

10. Details of all 'closed periods' announced by the bank during the inspection period along with
relevant dates, mode of circulation to executives and Board members and Board approvals.
11. Does the bank obtain CDC statements of directors and key executives periodically and examine-tn.heB------same?

Page 4 of7

./

Appendix-I

tf"

12. Does the bank maintain details of spouse/family members of directors and key executives and their
directorship/partnership in any company affiliated with the bank in any capacity?
13. Copies of notices published in newspapers for AGMs/ EOG Ms held during the inspection period.
14. How does the bank update and validate the directorship of any director or key executive in any listed
company? What is the frequency to update the same?
15. Has the bank placed responsibility on the key executives and board members to disclose the change
in status of directorship in any company?
16. Please provide quarter wise outstanding position of all the related party transactions on assets ari_d
liabilities side for the periITdoflnsfm~fion.
17. Transaction-wise details of all the related party transactions which were approved by the
BOD on post facto basis.
18. Transaction-wise details of all the related party transactions which were approved by the Board
of bank before execution of transaction during 2013 and 2014.
19. Classification, provisioning and impairment position of all the related party exposure (loans &
investments - strategic or otherwise).

20. Details of any consultancy services/ advisory/ any other allied work or services provided by
any of the directors of bank or any of its related party/ associated concern. Detail of any kind
of services provided by bank to its related parties or otherwise including usage of office space,
distribution of related party products, donations, any type of sale purchase and advisory services.
Please provide complete details including service level agreements, rent/ sale/ purchase agreements
and their approvals.
21. Detail of expenses incurred on sponsorship I advertisement I Marketing along with their approval.
22. Detail of bank's premises acquired on rent from 01-01-2013 to till date. The detail should contain
the name of owner of the premises, address of the premises, amount of monthly rent, purpose of
acquiring and date of acquiring.

;/
'{/

#,,

(3) FPT of Board Members and Key Management

Detail of criteria approved by the board for appointment of board members, if any. In case of no such
criteria, please explain the process being followed by the bank for appointment of directors on the board.
2. Copies of bank's memorandum and articles of association along with details of any amendments made
during 2011 and 2012.
]. Is any policy/mechanism in place for self assessment of the performance of the board?
4. Detail of the directors whose FPT were declined /rejected by SBP during the period under review.
5. Detail of directors whose FPT clearance is pending or conditional.
6. Copy ofresignation submitted by any of the director during inspection period, if any.
7. Copy of documents being obtained from the directors at the time of their nomination at Bank's board.
8. Copy of mechanism in place to verify the documents submitted by the proposed directors before
submitting the same to SBP for approval?
9. ls any mechanism in place to verify the disclosures made/details given by the board members or key
executives in the annexure/questionnaire of fit and proper test criteria? Please mention the name of the
department and executive responsible to validate and update the same.
1 o. Copy of procedure/ mechanism in place to obtain background information about the experience,
reputation and track record of selected persons, if any.
11. Is any mechanism/policy in place to obtain eCIB of the directors and key executive on periodical basis
subsequent to their appointment? If yes, please provide the copies of eCIBs obtained during the
inspection period. Beside_s, provide the current eCIBs of all the directors/ key executives,
12. Detail of Key Executives of the bank as of 30-06-2014 including name, designation, qualification, date
of appointment, banking experience and overall experience.
13. Provide copy of the eligibility criteria as per approved policy for the appointment of key executives and
process of reert1itment being followed for their appointment.
I.

Page 5 of7

_,,-/

Appendix-H

14.

15.

16.

17.
18.

19.
20.

Names and particulars of candidates interviewed for any of the position of key executives
including Company Secretary. Please mention the name of interviewing authority, date of
interview and final decision.
Copy of clearance letters issued by SBP for appointment of directors on Board during the inspection
period along with COl!lplete set of documents forwarded to SBP for obtaining clearance letters.
Details of any orientation courses/ training programs arranged for Directors of Board during the
inspection period. Record of trainings/Orientation courses attended by the Board members in accordance
with the requirements of code of corporate governance.
Covertrrgtetters and FPT documents sent to SBP for reporting the appointments of key executives I
Shariah Advisor during inspection period along with dates of joining of these executives.
Details of any changes in particulars of persons subject to FPT during inspection period
including educational qualification, transfers, promotions etc. and date of reporting any such
changes to SBP.
File for review containing all kind of correspondence with SBP relating to FPT clearance of
directors and key executives.
Copy of mechanism in place for conducting exit interview from the executives resigning from
the bank's services? Please provide the copy of exit interview sheets of the executives who have
resigned during the inspection period.

'< 4) Organizationalstructure
1. Latest organizational chart on bank wide basis mentioning staff strength at each department level/line of
business/cluster/sub group/ Division etc. Provide approval of organogram.
2. Detail of all the new departments established during the inspection period along with approvals.
3. Details of departments/ units closed I merged during the inspection period along with approval of same
closure/ merger decision.
4. Detail of changes in the reporting lines or creation of new cadres in the management hierarchy along
with its reasons.
5. List of Centralized Operations along with the number of staff working in each department.
6. Copy of exercise conducted regarding 'workload assessment' (if any).
7. Recommendation made on the basis of work load assessment or any action taken on its basis.
8. Copy of customer satisfaction survey conducted during the period of inspection, if any.
9. List and details of any asset or liability scheme/product expected to be launched in future.
10. New products developed I discontinued during the period under review.
11. Copy of annual HR manpower plan for the year 2013 and 2014 along with the gaps. How does the HR
Department determine the staff requirement in various departments and branches? Please explain the
process in detail.
12. Movemen ti turnover o f theemp oyees m
. th e f o 11 owing f ormat:
Regular
I Contract I Total
No. of employees as on 01-01-2013
Add: appointed during the inspection period.
Subtotal
xxx
xxx
Less: Employees left the bank during the inspection
(XXX)
(XXX)
(XXX)
period.
Number of employees as on 30-06-2014
xxx
xxx
Resigned
Suspended I Terminated
Contract cancelled

xxx
xxx
xxx

xxx
xxx

xxx
xxx

xxx
xxx
xxx
xxx

xxx
xxx
xxx

xxx
xxx
xxx

Page 6 of7

Appendix~!
(5) Strategic Plan
1. Copy of Bank's Strategic Plan along with its approval, achievements and gaps. :/
Explain the process for the development of strategic plan or amendments therein. Please mention the
names of the departments involved and process followed from start till approval by the board.
3. Detail of change in business- strategies during the period under review along with its reasons,
assumptions, approvals and working papers for revision/changes in strategic plan.
4. Detail of changes made in the organizational structure and policies on the basis of changes~lliL___
strategic plan.
5. Describe the process in the bank to monitor the achievement against the strategic plan.
6. Copy of previous strategic plan along with the gaps.
7. Copies of Quarterly, half yearly & Annual Audited Financials pertaining to the inspection period 0101-2013 to 30-06-2014.
~ p,At)V'I _,.B. Copy of approved annual budget for the year 2013 and 2014 along with its approval.

Detail of variances in the budget with the actual performance on quarterly basis.
J:(J;i.Yi' ~
10. List of reports to different tiers of management and BOD showing actual results versus budget/strategic
plan.
11. Detail of any peer analysis conducted by the bank;
,
~--)2. Copy of Capital Injection Plan in line 'with the regulatory requirements and future business needs of the
tyw<;
bank.
.
2.

v~?9.
A

Page 7 of7

A .I'\

Compliance Group

CG/W aj/ All-lssues-2012/670

Monday, September 08, 2014

The Group Chief,

Overseas Banking Group,
National Bank of Pakistan,
Head Office,
Karachi.
Confidential & Most Urgent
Final Tracer

SBP INSPECTION REPORT AS OF 31.12.2012

COMPLIANCE STATUS OF ALL ISSUES I IRREGULARITIES
Reference to our earlier letters dated 24.07.2014, 08.08.2014 & 21.08.2014
regarding the captioned subject.
In this connection, we are still awaiting response of OBG regarding requisite
SBP all issues along-with appendices for further submission to SBP accordingly.
We hope that response of OBG regarding the subject matter would be submitted
to us latest by Tuesday i.e. 09.09.2014.

Regards,

"
Kausar Iqbal Malik
Group Chief

Head Office: I. I. Chundrigar Road, Karachi. Phone# 99212812-Fax# 99212243

PABX # 9212100-50(50 Lines) Ext: 2333 -2450 & 2398
------e-.m.ail:afzal.shamim~~nationalbank.com. k. Website: www.nbilp
.com.pk----M11y-011Grouris

All Issues Letter - Reminder

Compliance Group

Karachi.

Dear Sir (s),

\ ~
SBP INSPECTION FROM 01-01-2013 TO 30.06.2014
PRE-INSPECTION DATA (APPENDIX-!}

~
, ) ~
[.,.,

J' /

I V\

The State Bank of Pakistan vide there letter # BID (Insp)/21-10/15585/2014 dated
August 26, 2014 has planned to conduct on-site inspection of our bank from 01-01-2013
to 30-06-2014. In this connection they have advised to provide them Policies I
Documents I Information as detailed in the enclosed lists marked Appendix -1.
Further
. they have advised that the information asked for in Appendix - I, should be made
available to them latest by Sep 05, 2014.
We shall appreciate if you please go through the appendices mentioned above and send
us the information I documents pertaining to your Group latest by September 03, 2014.
Soft copy of the information may also be provided wliere advise
P.
f

Your~~7/

(?:;:Rehman
Wing Head
Encls: 7 pages of Appendix-I

RECEIVED

Office of the Grqup Chief (OBG)

DATE..).$-~

l_.:t.

S.No: ?fZ8 TIME~s~

INITIAL
~
(

Head Office: I. I. ChundrigarRoad, Karachi. Phone# 99220812 Fax# 9212230

PABX # 9212100-50 (50 Lines)Ext: 2398 & 2333
e-mail: w~i~ehma~~~na~'laJ!>:~-k.com.p~,;':~bs~e:
~~-nbp.com.pk

-------

lllA'"-"'"~~~""'-~~~~

.. ~J~~~

.,.

----------

lo,,,,,

- --

Pre-Inspection Data I Information on Corporate Governance

[Inspection Period from 01-01-2013 to 30-06-2014]
Please note that the data is required in soft copy except wherever correspondence file is required.
(1) Board,

Board Committees, Management Committees and Policies

1. Composition of Board of Directors as of 30-06-2014 and any changes made during the period under
review.------Directorship in
other
Experience
companies
1
2
5
6
3
4
Detailed profile of each director/key executive containing his/her qualifications and experience
including their CV s.
Terms of reference, job description, salary and terms and conditions of Advisor to
Chairman/Directors, if any including approval of appointment.
List and numbers of various Board's sub-committees and management committees along with details
on the following formats:
Name of
Directors

2.
3.
4.

Designation Date of Appointment

Qualification

Sr.
No.

Name of
Committee

Constituted by
BoD/Management

Composition (Names,
designation &
responsibilities)

Number oftimes
committee met during
the inspection period

Date of
Formation

Financial
Powers
(If any)

Terms of
Reference

To Rs
approved by

Date of
Approval

10

5. Approved TORs, agenda package and minutes of all the meetings of all the above committees.
6. Agenda package and Minutes of all meetings of Board of Directors held during the period under
review.
7. Details of agenda items which were deferred in more than three board I board committees meetings.
Besides, also provide the resolution of these agenda items along with their date ofresolution.
8. Details of any board or management level committees dissolved during the inspection period.
Besides, also provide the reconstitution of members in each committee.
9. Copy of resolutions passed by the BOD/ Board sub-committees/ management committees through
circulation during the inspection period.
I 0. Mechanism for compliance and follow up of decisions I instructions of Board and its Committees.
11. Operational and financial powers of various Committees, executives and officers of the bank for the
period under review.
12. List of all the reports submitted to BOD, on regular basis, on the following format:
Sri No.
13.

Natur~ ~Report

Frequenc~ of Report

List of all the reports submitted to BOD's sub-committees on regular basis (Separate list for each
committee on the above format)

Page I of7

Appendix-I
14. List of all the reports submitted to Management Committees on regular basis (Separate list for each
committee on the above format)
15. Details (List) of statements generated regularly for higher management.
16. Details of set up of IT infrastructure.
17. List I possibilities of reports generated under the MIS
-----~1~8-.~A-gendaItems and Minutes of the meetings of AGM/EOGM Iieldduring the period under review.
19. List of pending issues among the agenda items of Board meetings as of 30-06-2014 along with date
of first presentation to the Board.
----20. Details of all allowances I fees I benefits I 01:1t-of-peek-et- expenses paid to each director along with
number of meetings attended during the inspection period. (Please provide item wise details).
21. Details of any expense incurred on the directors other than mentioned in above point.
22. Extracts of Board meeting minutes where core values and Vision/ Mission statement of the bank
were approved.
23. Job Descriptions/responsibilities of the members of the board of directors and key executives along
with the extract of the minutes of the board meetings in which job descriptions were approved.
24. Detail of the mechanism to review the performance of the overseas operations (if any).
25. Extract of Board and AGM/EOGM minutes wherein current fees & remuneration of the board
members including the chairman/vice chairman of the bank were approved.
26. Detail of penalties levied by the local or any of the overseas regulator on bank or any of its
subsidiary.
27. Copies of all the presentations delivered to Board and Board Committees during the inspection
period.
28. Risk Appetite Statement along with review of benchmarks set in the Statement.'
29. Details of KPis of the bank approved by the board. Besides, also provide the extracts of board
meeting minutes where these KPis were discussed.
30. Detail of mechanism to allocate business targets.
31. Detail of the mechanism to review performance of the committees by the board.
32. Detail of the mechanism to review performance of the management by the board.
33. Head office system for monitoring the performance of various administrative groups and branches.
34. Describe the performance appraisal system in the bank. (A brief summary is required)
35. Copies of Annual Appraisal of regional audit heads, Head of Internal Audit, CFO and Company
Secretary for the year 2013.
.
36. Approved copies of performance appraisal sheets of key executives for the year 2013.
37. Detail of all types of bonuses paid to the key executives during the inspection period along with
approval of the same and executive wise detail of amount paid.
38. Please provide detail of executive who were allowed special bonuses and/ or special increments
during inspection period.
39. Extracts of bank's Board approved policy for conducting 'management audits'. Provide list of
departments, management audits of which were conducted during inspection period.
40. Copies of all the circulars issued by the bank regarding 'close period' before announcement of
annual/ interim financials during the inspection period.
41. Copy of Insider Trading Policy approved by the board along with details of employees who have
violated this policy during the inspection period (if any).
42. Transaction-wise detail of all the bank's shares sold/ purchased by executives/ directors and reported
to company secretary during the inspection period along with date and amount of purchase/ sale and
date of reporting the sare to company secretary.
43. Responsibilities and Functions of any Special Projects Group.
____
_,,4"""4.~Detail
of all the expenses incurred by the bank on Board Chairman/ Advisor to Chairman I Board
and any of bank's directors, Chairman Secretarial and Security Staff of the board I chairman board I
advisor, during the inspection period. The detail should contain the individual heads of all the
expenses including expense incurred on travelling, remuneration for attending meetings, travel

Page 2 of7

Appendix-I

expenses including boarding & lodging, utilities expenses, security vehicles, security guards
payments, salaries and bonus to secretarial staff, rent paid on chairman offices.
45. Copy of latest Succession Plan of bank along with date of approval from Board.

Details of President's Ex-Pakistan leaves availed during the inspection period along with
copy of letters forwarded to SBP, BPRD for information.
47. Detail of all the queries raised by.different monitoring authorities (SBP,.NAB, FIA etc)
and responded by compliance during the period under review. (Actual query and bank's
response)
-

46.

48. Detailed copies of allJh~ corres_pon9-ence with SBP/SECP/KSE/Share Registrar. Alfilw;!rovide the
copy of correspondence by the Head office with the regulators of host countries in case of having
overseas operations.
49. Implementation status of the issues pertaining to corporate governance on last SBP Inspection Report.
,,
50.

All correspondence of the bank with SBP regarding compliance of last inspection report on
the issues of corporate governance.

51. Reports of grave/serious irregularities detected by the internal audit in various branches during the

period under review and submitted to the concerned authority in head office and action taken there
.against. 52. Detail of actions taken by the board/board audit committee on the basis of serious grave
irregularities pointed out by the internal audit department of the bank, if any.
53. Loans and Advances to insiders other than staff loans given under the bank's policy as per following
format. (Insiders defined as directors, executive officers, employees and interests thereof).
Rs in Millions)
Sr.#
Share in Total
Name of Nature of
Amount O/S as on
Date of
Amount
30-06-2014
Insider Loans
Insider
Facility
Disbursed Disbursement
(%)
Principle
M. up

54. Management letter and Internal Control Memo from the external auditors for the year ended 31-12-

201~.
5 5. Copies of the self-assessment of internal control system of the bank, if any
56. Detail of shareholding as of 30-06-2013, 31-12-2013 and 30-06-14.
57. Details of shares of the bank held by Board members and employees as of 31-12-2013& 31-12-

2012.The detail should also contain the date of purchase of shares.

58. Detail of subsidiaries & Associate of the bank as of31-12-2013 & 30-06-2014.
59.

60:

61.
62.

63.
64.

65.
66.

Copy of the employment contract signed by the bank with current President I CEO of the bank.
Besides, also provide the extract of board minutes wherein employment contract of CEO was
approved.
Dates and minutes (extracts) of meetings of Board Audit Committee with external auditors in absence
of CFO & head of internal audit and meeting with internal auditors in absence of CFO & external
auditors.
Copies of reports on internal controls system and significant audit findings for all the quarters of year
2013 and 2014.
Complete breakup of all the expenses/ remuneration paid to external auditors including audit fee,
special certification and sundry services fee and out-of-pocket expenses etc. for the years 2013 and
2014.
Detail of all functions outsourced by the bank. Please provide copies of SLAs along with the approvals
of the competent authority obtained in this respect.
Provide copy_of approval obtained from SBP relating to outsourcing of any of ac:tiicyLfi.mctifany.

Details of due diligence of outsourced services providing companies conducted by the bank
before outsourcing the functions.
Copy ofICAAP document submitted by the bank to SBP.
Page 3 of7

Appendix-I
67. List of Policies I Manual formulated by the bank on the following pattern:
Sr.
No.

Name of
policy/Manual

Formulated by

Approved by

Last Reviewed by

Authority I Date
~at-e
1
8
2
7
6
3
4
5
I
I
68. Detail of amendments m the policies/manuals approved during the inspection penod on the
following format:
Sr.
No.

Name of
policy/Manual

Person I Deptt.

I
I

Date

A
''
---

Approved by
Nature of amendment

Date
Authority I
1
5
2
3
4
I
69. Details of all policies which were presented to the board but were deferred. The detail should contain
the name of policy, date of presentation in Board and date of board meeting in which respective
policy was finally approved.
70. Detail of the mechanism to report exceptions/deviation in policies to board or any of its committee.
71. Details of all exceptions/ deviations from Board approved policies presented to Board on periodical
basis.

Details of all the 'exceptions/ deviations' from the approved policies obtained by different
departments/ groups of the bank during inspection period along with name of 'exceptions'
approving authority' for each case.
73. Details of exemption I relaxation obtained from SBP/SECP/KSE in any matter.
72.

74. Provide latest list of zero tolerance exceptions in policies, if defined by the bank.
75. Detail of mechanism to circulate SBP circulars/instructions within the bank.
(2) Related Party Transactions
1. Describe the process being followed by the bank to determine, identify and report the related party
transactions.
2. Please provide the detail of executives/employees responsible to ensure consolidation and reporting
of the related party transactions.
3. Please explain the pricing methods for the related party transactions along with the details of
approving authorities.
4. Does the BOD review all related party transactions on individual basis or only transactions on
consolidated basis are submitted by the management for board review? Please provide copies of all
the 'related party transaction' reports submitted to the Board during the inspection period. Also
provide copy of approval of all individual related party transactions
5. Copies of all Related party statements submitted to SBP as required under BSD circular No. 02 of
2012.
6. Agenda papers, memos, notes or any other working papers related to above transactions presented to
Board of Directors or its subcommittees.
7. Is any format being used by the bank to obtain details of the related parties?
8. Does the bank mark the related party transactions in core banking?
9. Details of all the leasing,. renting and sale I purchase of any kind with the directors and employees of
the Bank or their family members. Please also provide the details of any guarantees issued in favor
of them.
-----10. Details of all 'closed periods' announced by the bank during the inspection period along with
relevant dates, mode of circulation to executives and Board members and Board approvals.
11. Does the bank obtain CDC statements of directors and key executives periodically and examine--tt:nhS-e----------same?
Page 4 of7

Appendix-I
12. Does the bank maintain details of spouse/family members of directors and key executives and their
directorship/partnership in any company affiliated with the bank in any capacity?
13. Copies of notices published in newspapers for AGMs/ EOG Ms held during the inspection period.
14. How does the bank update and validate the directorship of any director or key executive in any listed
company? What is the frequenclli.J!Rdate_1he same?
15. Has the bank placed responsibility on the key executives and board members to disclose the change
in status of directorship in any company?
16. Please provide quarter wise outstanding position of all the related party transactions on assets an_~
liabilities side for the periodof1nspe-ction.
17. Transaction-wise details of all the related party transactions which were approved by the
BOD on post facto basis.
18. Transaction-wise details of all the related party transactions which were approved by the Board
of bank before execution of transaction during 2013 and 2014.
19. Classification, provisioning and impairment position of all the related party exposure (loans &
investments - strategic or otherwise).

20. Details of any consultancy services/ advisory/ any other allied work or services provided by
any of the directors of bank or any of its related party/ associated concern. Detail of any kind
of services provided by bank to its related parties or otherwise including usage of office space,
distribution of related party products, donations, any type of sale purchase and advisory services.
Please provide complete details including service level agreements, rent/ sale/ purchase agreements
and their approvals.
21. Detail of expenses incurred on sponsorship I advertisement I Marketing along with their approval.
22. Detail of bank's premises acquired on rent from 01-01-2013 to till date. The detail should contain
the name of owner of the premises, address of the premises, amount of monthly rent, purpose of
acquiring and date of acquiring.
(3)

FPT of Board Members and Key Management

I.

Detail of criteria approved by the board for appointment of board members, if any. In case of no such
criteria, please explain the process being followed by the bank for appointment of directors on the board.
Copies of bank's memorandum and articles of association along with details of any amendments made
during 2011 and 2012.
ls any policy/mechanism in place for self assessment of the performance of the board?
Detail of the directors whose FPT were declined /rejected by SBP during the period under review.
Detail of directors whose FPT clearance is pending or conditional.
Copy ofresignation submitted by any of the director during inspection period, if any.
Copy of documents being obtained from the directors at the time of their nomination at Bank's board.
Copy of mechanism in place to verify the documents submitted by the proposed directors before
submitting the same to SBP for approval?
ls any mechanism in place to verify the disclosures made/details given by the board members or key
executives in the annexure/questionnaire of fit and proper test criteria? Please mention the name of the
department and executive responsible to validate and update the same.
Copy of procedure/ mechanism in place to obtain background information about the experience,
reputation and track record of selected persons, if any.
ls any mechanism/policy in place to obtain eCIB of the directors and key executive on periodical basis
subsequent to their appointment? If yes, please provide the copies of eCIBs obtained during the
inspection period. Beside_s, provide the current eCIBs of all the directorsz.key.executives,
Detail of Key Executives of the bank as of 30-06-2014 including name, designation, qualification, date
of appointment, banking experience and overall experience.
Provide copy of the eligibility criteria as per approved policy for the appointment of key executives and
process of reeruitment being followed for their appointment.

2.
3.
4.
5.
6.
7.
8.
9.

Io.
11.

12.
13.

Page 5 of7

Appendix-~
14. Names

,/

.//
15.
16.

17.
18.

19.
20.

and particulars of candidates interviewed for any of the position of key executives
including Company Secretary. Please mention the name of interviewing authority, date of
interview and final decision.
Copy of clearance letters issued by SBP for appointment of directors on Board during the inspection
period along with complete set of documents forwarded to SBP for obtaining clearance letters.
Details of any orientation courses/ training programs arranged for Directors of Board during the
inspection period. Record of trainings/Orientation courses attended by the Board members in accordance
with the requirements of code of corporate governance.
Covertng tetrers and FPT documents sent to SBP for reporfiiig the appointments of key executives I
Shariah Advisor during inspection period along with dates of joining of these executives.
Details of any changes in particulars of persons subject to FPT during inspection period
including educational qualification, transfers, promotions etc. and date of reporting any such
changes to SBP.
File for review containing all kind of correspondence with SBP relating to FPT clearance of
directors and key executives.
Copy of mechanism in place for conducting exit interview from the executives resigning from
the bank's services? Please provide the copy of exit interview sheets of the executives who have
resigned during the inspection period.

'(4) Organizationalstructure
1.

Latest organizational chart on bank wide basis mentioning staff strength at each department level/line of
business/cluster/sub group/ Division etc. Provide approval of organogram.
2. Detail of all the new departments established during the inspection period along with approvals.
3. Details of departments/ units closed I merged during the inspection period along with approval of same
closure/ merger decision.
4. Detail of changes in the reporting lines or creation of new cadres in the management hierarchy along
with its reasons.
5. List of Centralized Operations along with the number of staff working in each department.
6. Copy of exercise conducted regarding 'workload assessment' (if any).
7. Recommendation made on the basis of work load assessment or any action taken on its basis.
8. Copy of customer satisfaction survey conducted during the period of inspection, if any.
9. List and details of any asset or liability scheme/product expected to be launched in future.
10. New products developed. I discontinued during the period under review.
11. Copy of annual HR manpower plan for the year 2013 and 2014 along with the gaps. How does the HR
Department determine the staff requirement in various departments and branches? Please explain the
process in detail.
12. Movement/ turnover of the emp oyees in th e followinz flormat:
Regular
Total
Contract
No. of employees as on 01-01-2013
xxx
Add: appointed during the inspection period.
xxx
Subtotal
xxx
Less: Employees left the bank during the inspection
(XXX)
(XXX)
{XXX)
period.
Number of employees as on 30-06-2014
xxx
xxx
xxx

xxx
xxx

Resigned
Suspended I Terminated
Contract cancelled

xxx
xxx
xxx

xxx
xxx
xxx

xxx
xxx
xxx

xxx

xxx
xxx
xxx

Page 6 of7

Appendix.;!
(5) Strategic Plan
I.

Copy of Bank's Strategic Plan along with its approval, achievements and gaps.
2. Explain the process for the development of strategic plan or amendments therein. Please mention the
names of the departments involved and process followed from start till approval by the board.
_
3. Detail of change in business - strategies during the - period under review along with its reasons,
assumptions, approvals and working papers for revision/changes in strategic plan.
4. Detail of changes made in the organizational structure and policies on the basis of changes_in_lhe____
strategic plan.

5.
6.
7.
8.
9.
10.
11.
12.

Describe the process in the bank to monitor the achievement against the strategic plan.
Copy of previous strategic plan along with the gaps.
Copies of Quarterly, half yearly & Annual Audited Financials pertaining to the inspection period 0101-2013 to 30-06-2014.
Copy of approved annual budget for the year 2013 and 2014 along with its approval.
Detail of variances in the budget with the actual performance on quarterly basis.
List of reports to different tiers of management and BOD showing actual results versus budget/strategic
plan.
Detail of any peer analysis conducted by the bank
,
Copy of Capital Injection Plan in line with the regulatory requirements and future business needs of the
bank.

Page 7 of7

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Humayun Shafiq
From:

Sent:
To:

Cc:
Subject:
Attachments:

Afzal Shamim
Tuesday, September 02, 2014 6:36 PM
Humayun Shafiq
Wajih-ur-Rehman; Saeed Habib; Syed Azhar Ali
Pre-Inspection Data (Appendix - I)
PID Appendix I OBG.xlsx

Dear Sir,
Refer to our letter# SBPIW/Waj/PID-14/658 dated 29.08.2014 regarding "SBP Inspection from 01-01-2013 to 30-062014, PRE- INSPECTION DATA (APPENDIX-I)" Please find enclosed points that extracted from our earlier submitted
Appendix-I that pertain from your Group I Division.
It is important to mention here, if you find any other point that concerned with your Group I Division from our submitted
appendix-I dated 29.08.2014, please share with us and do response on those also along with above requisite attached data
by 03.09.2014 for further submission to SBP accordingly.
Hope you understand the matter of urgency, if you need any further assistance please do contact us.
Regards,

Afzal Shamim
Liaison Officer
Compliance Group
NBP - Head Office

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Humayun Shafiq
From:

Sent:
To:
Cc:
Subject:
Attachments:

Afzal Shamim
Tuesday, September 02, 2014 6:36 PM
Humayun Shafiq
Wajih-ur-Rehman; Saeed Habib; Syed Azhar Ali
Pre-Inspection Data (Appendix - I)
PID Appendix I OBG.xlsx

Dear Sir,
Refer to our letter# SBPIW/Waj/PID-14/658 dated 29.08.2014 regarding "SBP Inspection from 01-01-2013
to 30-062014, PRE- INSPECTION DAT A (APPENDIX-I)" Please find enclosed points that extracted from our earlier submitted
Appendix-I that pertain from your Group I Division.
It is important to mention here, if you find any other point that concerned with your Group I Division from our submitted
appendix-I dated 29.08.2014, please share with us and do response on those also along with above requisite attached data
by 03.09.2014 for further submission to SBP accordingly.

---

Hope you understand the matter of urgency, if you need any further assistance please do contact us.
Regards,

Afzal Shamim
Liaison Officer
Compliance Group
NBP - Head Office

NATIONAL BANK OF PAKISTAN

OVERSEAS BANKING GROUP HEAD OFFICE
Sept: 01, 2014

No. OBG/ Admn/SBP-lnspection/SAA/

The Country Manager, Americas, Hong Kong, Japan, Bangladesh & Afghanistan.
The RCE, Central Asia Republic, Almaty.
The General Manger, Frankfurt, Paris, Bahrain, Riyadh, Seoul Branches
The Manager, NBP EPZ Branch, Karachi.
Dear Sir,
Pre-Inspection Data / Information on Corporate Governance
SBP INSPECTION FROM 01.01.2013 TO 30.06.2014.
The SBP Banking Inspection Department
the branches under your jurisdiction:-

(On-site}, asked to provide them the following information of

1.

Detail of key executive of the bank as of 30.06.2014 including name, designation,

2.

date of appointment, banking experience and overall experience. Including their CVs.
List and number of various management committees along with detail on the following format:-

S.NO

Name of
Committee

Constituted by
BoD/Management

Composition (Name, designation

& responsibilities)

"

1
Date of
formation

Financial Powers (If any)

Terms of

qualification

No of Items
committee met
during the inspection
period

ToRs Approved by

Date of Approval

Reference

10

34-

Approved Tors, agenda package and minutes of all the meetings of all the above committees
Detail (List} of statements generated regularly for higher management.

567-

Detail of set up of IT infrastructure.

List I Possibilities of reports generated under the MIS.
Detail of penalties levied by the local or any of the overseas regulator
subsidiary.

89-

Copy of latest Succession Plan of bank along with date of approval from Board.
Reports of grave I serious irregularities detected by the internal audit in various branches during

on bank or any of its

the period under review and submit to the concerned authority in Head office and action taken
there against.
10-

Loans and Advances to insiders other than staff loans given under the bank's policy as per
following format. {Insiders defined as directors, executive officer, employee and interest
thereof}

S.No

Name
of
Insider

Name of

Amount

facility

disbursed

Date of
disbursement

Amount O/S as
on 30.06.2014

Share in Total Insider

Loans(%)
.

Principle IM. up

11-

Management
31.12.2013.

letter and Internal Control Memo from the external auditors for the year ended

12-

Copies of self-assessment of internal control system of bank, if any.

13-

Detail of all functions outsourced by the bank. please provide copies of SLAs along with the
approvals of the competent authority obtained in this respect.

P: Yz

... -

._

P:2/2

14-

Provide copy of approval obtained from SBP relating outsourcing of any of activity/function, if
any.
Detail of Due diligence of outsourced services providing companies conducted by the bank
before outsourcing the functions.

15-

List of Policies I Manual formulated by the bank on the following pattern:

16S. No

Name of
policy/Manual

Formulated
by

Person/Deptt
3

17-

Approved
by

Date
4

Authority
5

Last Reviewed by

Date
6

Name of
Policy/Manual

Nature of
amendment

2021-

22-

Date
8

Approved by

Authority
1

19-

I
I

Detail of amendments in the policies/manual approved during the inspection period on the
following format:
S.No

18-

Authority
7

I Date
4

Detail of expenses incurred on sponsorship I advertisement I marketing along with their

approval.
Detail of bank's premises acquired on rent from 01.01.20123 till to date. The detail should
contain the name of owner of the premises, address of the premises, amount of monthly rent,
purpose of acquiring and date of acquiring.
Provide copy of eligibility criteria as per approved policy for the appointment of key executives
and process of recruitment being followed for their appointment.
Name and particulars of candidates interviewed for any of the position of key executives
including Company Secretary. Please mention the name of interviewing authoritv, date of
interview and final decision.
Copy of mechanism in place for conducting exit interview from the executives resigning from
the bank's services? Please provide the copy of exit interview sheet of the executives who have
resigned during the inspection period.

You are requested to kindly send us the requisite information which should reach Head Office by
s" September 2014, to meet the dead line of SBP Inspection Team.
Please note that the data is required in Soft Copy, except where correspondence file is required.

Yours sincerely,

SYED AZHAR ALI

SENIOR VICE PRESIDENT

FAX NO.

FROM :HBP OBLl KHI

:0092 21 32416566

04 Sep.

2014 01:56PM

P 1

611

Compliance Group

No. SBPIW/Waj/PID~l4/ <:c.,~~

Thursday, September 4, 2014.

All Group Chief {s) I Divisional Head (s),

National Bank of Pakistan,
Head Office,

Karachi.
Dear Sir (s),
SBPINSPECTION FRO!tf OJ .. OJ-2013 TO 30.06.2014
PRE-INSPECTION DATA (APPENDIX-!)
Refer our earlier letter dated 29.08.2014 regarding the captioned subject.
We are still awaiting response regarding Pre inspection Data (Appendix-I) for further
submission to SBP accordingly.
- We hope that' response of your Group I Division regarding the subject matter would be
submitted to us latest by Friday i.e. 05.09.2014before11.00A.M.
Regards,

Wajih Ur Rehman
Wing Head

Kausar qbal Malik

Group Chief

RECEIVED

Office of he Gro
DATE

S.No&f

Cfilef (OBG)

. I
TIMEci/:.c

INITIA

Head Office: I. I. ChL1ndrtg~r Road, KarachJ, Phone# 99220812 Fax# 9212230

PABX 11 9:212100-50 (~0 Lines) Ext: 2398 & 2333

lllie-iim
... il: we/[email protected]

WebaJtc; wj.nbp.cilom.pk
.
-------

NATIONAL BANK OF PAKISTAN

OVERSEAS BANKING GROUP
HEAD OFFICE - KARACHI

Sept: 03, 2014

Our Ref: OBG/SBP-INSPECTION-2013-14/

Mr. Wajih Ur Rehman,
Wing Head,
Compliance Group,
Head Office
Karachi
Dear Sir,
SBP INSPECTION FROM 01.01.2013 TO 30.06.2014
PRE-INSPECTION DATA (APPENDIX-I)

Please refer to your letter# SBPIW/Waj/PID-14/658

Sept: 02, 2014 on the above referred subject.

dated 29.08.2014 and email dated

. h h ereunder point wise repiv, pertain to our

n t h"ts connection, we f urrus
S.No
Queries
Board, Board Committees, Management Committees
1&12
and Policies:
NIL
- List of all reports submitted to BoD on regular
basis.

24

26

41

List and number of various committees at Overseas

branches

Detail of the mechanism to review the performance of

the overseas operations (if any).

Detail of penalties levied by the local or any of the

overseas regulator on bank or any of its subsidiary.

Copy of insider trading policy approved by the board

along with details of employees who have violated this
policy during the inspection period (if any).
/J
L-"
~
l._f~.
Responsibilities and functions of any special projects
Groups.

Response

Soft copies enclosed

Performance of Overseas
Branches is reviewed from the
following statements:
i)
Monthly Budget r.
Compliance Report.
ii)
F-47 & F-48. (~,
We have advised to Overseas
Branches to send the detail of
penalties (if any), which shall be
submitted on receipt shortly.

NIL

.r.

43

G roup:

n1<
~

NIL

Page: 1/2

Page: 2/2

48

Detailed copies of all the correspondence with SBP/

SECP/ KSE/ Share Registrar. Also provide the copy of
correspondence by the Head Office with the regulators
of host countries in case of having overseas
operations.

FPT of Board Members and Ke~ Management.

Is any policy I mechanism in place for self-assessment

/
Letters send to SBP and

Not pertain to us.

('

of the performance of the board?

Strategic Plan:
3) Detail of change in business strategic during
the period under review along with its reasons,
assumptions, approval and working papers for
revision/changes in strategic plan.
4) Detail of changes made in the organizational
structure and polices on the basis of changes
in the strategic plan.
5) Describe the process in the bank to monitor the
achievement against the strategic plan.

Banglade~.!~'.mk are enclose~

Strategic Plan is
enclosed.

OBG is under
restructuring stage and
preparation of Strategic
Plan of OBG is also
under process.
Strategic Plan is
monitored through
Budget Compliance
Report (MBCR),

Thanks & Regards.

Yours sincerely,

SYED AZHAR ALI

SENIOR VICE PRESIDENT

FvPjoft4

(.!-vP/o&;
1) l\
# A&IG/BAC SSW/166/04/2014/ \;\
22nd August 2014

i n f.\\j G 1t\~it

Mr. Masood Karim Shaikh

SEVP/Group Chief
Overseas Banking Group
National Bank of Pakistan
Head Office
Karachi

CONFIDENTIAL

Dear Sir,
166th (04/14) BOARD AUDIT COMMITTEE MEETING
We enclose the under noted decision (s) taken by the Board Audit Committee in its 166th
meeting held on 08th August, 2014:
Sr.
#
1

Item#
5(c,f)

Regarding

Review of SBP Inspection Report

Further to above you are requested to provide updated status wherever directed; through
compliance group for perusal of BAC for forthcoming meeting.

~gards,

BARBRUC ISHAQ
EVP/ HEA OF A&IG (A) &
SECRETARY BOARD AUDIT CQMMITIEE
Encl: (as above

RECEIVED
Office of the Group Chief (OBG)
DAred "~o& ~ cb? i lf
S.No: ?-f]3
INITIAL

National Bank of Pakistan

Head Office, I.I. Chundrigar Road.Karachi.Ph : 99220100 ( 50 lines )
Website: www.nbp.com.pk

TIME ~
.-

6 ! eeei

Vt

Minutes of 166th (04/14) Board Audit Committee Meeting held on 8th August, 2014

5. Review of SBP Inspection Report.

a. Mr. Muhammad Naeem, Member BAC proposed that Group-wise feedback on SBP
Inspection Report may be provided to the Committee. The Committee called upon
Head of HRM&AGto explain issues relating to his Group. Mr. Qamar Hussain, Head of
HRM&AG alongwith Mr. lmran Ghani, VP joined the meeting and responded to various
queries of the Committee with regard to the issues raised by the regulator in Report
pertainingto HRM&AG.Mr. Muneer Kamal, Member BAC recommended that instead
of providing feedbacks, the management should immediately prepare the
responses on major issues keeping in view the SBP recommendations and place
the compliance status before the Committee in the next meeting.
f.

The BAC directed each Group/Division to prepare a meaningful presentation and

present the same to SBP Team before start of the Inspection. The presentation
should at-least contain organogram, current compliance status on "SBP
Inspection Report - 2012" with time bound action plan, action taken to mitigate
the re eated instances/issues and short/Ion term strate ies for im
ement of
internal control and enhancement of profitability.
v.t.~ B,qC'
C?'.
oj\

~..

BAC Secretarial Support Wing, Audit & Inspection Group, NBP, HO, Karachi

~V,.ilj/

Page 1of1

OVERSEAS BANKING GROUP

TEL NO. 9212729 & 9212845. FAX NO. 9213170

No. OBG/ADMNSBP2014/) J p

2.- b

&

9212706.

August25,2014

Mr. Saeed Habib

SVP I Divisional Head
Compliance Group
National Bank of Pakistan
Head Office
KARACHI

Dear Sir,
SBP INSPECTION REPORT AS OF 31-12-2012COMPLIANCE STATUS OF ALL ISSUES/IRREGULARITIES

Kindly refer to your letter No. CC/Waj/All-lssues/2012/623 dated August 08, 2014 on the
above referred subject.

As desired, please find enclosed herewith OBG's response to SBP Inspection Report as
of 31-12-2012 covering all issues/ irregularities pertaining to OBG, for your further necessary
action.

Yours sincerely,

( SYEiHAR ALI )
SENIOR VICE PRESIDENT

li'NBP
~

National Bank of Pakistan

y{r ~~

\ ~mpliance Group

CG/Waj/All-Issues/2012/623
Friday, August 8, 2014

All Group Chiefts) I Divisional Head(s),

National Bank of Pakistan,
Head Office,
Karachi.

SBP INSPECTION REPORT S OF 31.12.2012

COMPLIANCE STATUS OF ALL ISSUES I IRREGULARITIES

Please refer our earlier letter# HO: CG/WAJAll-Issues-12/617 dated 24.07.2014

regarding the captioned subject.
In this connection, please that BAC members instructed in 166th (04/14) BAC
meeting dated 08.08.2014 that all issues would be reviewed in Board prior to
submission to SBP by the concerned Group.
Therefore, we hope that response of your Group regarding the subject matter
would be submitted to us latest by 15.08.2014as we have already requested via
our above said letter and further please ensure your presence in the upcoming
said Board meeting in order to explain submissions of your Group prior to
submit the same to SBP accordingly.

Regards,

Kausar Iqbal Malik

SEVP I Group Chief

C.C: PSO to President.

Head Office: I. I. ChundrigarRoad, Karachi. Phone# 99212812- Fax# 99212243

PABX # 9212100-50(50 Lines) Ext: 2333 -2450 & 2398
~------------

REC Ea~"'
Office of the Group Ctiief (OBG)
DATE. - H_ =o'il.'

\4

S.No:-?:-~

lb', ~o

INITIAL

TIME

111

e-mail: [email protected]. Webstte: www.n.bp.com.pk-----

ssues Let.....,...,-

NB-~ p---

National ~ank of Pakistan

Group

CG/WajAll-[ssues/2012/
Thursday, July 24, 2014

b / 1-

All Group Chiefts) I Divisional Head(s),

National Bank of Pakistan,
Head Office,
Karac(~f.:.

Dear Sir (s),

SBP INSPECTION REPORT AS OF 31.12.2012

COMPLIANCE STATUS OF ALL ISSUES I IRREGULARITIES
The State Bank of Pakistan vide their letter # BID(Insp)/012968/54-2812014
dated 17-07-2014 has submitted the Final Inspection Report on NBP as of
31.12.2012, after making amendments in the light of our points of contest and
discussion held with SBP officials on draft inspection report.
The Banking Inspection (on site) Department of SBP has advised to resolve all
the issues I irregularities etc. pointed-out in the report and submit a paragraphwise compliance report to them (along-with hard & soft copy) on the enclosed
forma 0 days i.e. 17.08.2014.
Therefore, kindl provide your worthy response to us on enclosed format by
11.08.2014 for rther submission to SBP accordingly.
-~~~note
that your group/division is already well versed with these
ervisory concerns as they have already been intimated during the inspection
period and were also communicated in the draft inspection report.

Yours faithfully,

{\
~~~

Saeed Habib
S.V.P/Divisional

Head

R ece1ve-.
.

~RECEIVED
Office of the Group Chief (OBG)

EVP I Group Chief (A) Secretariat

Encl: As above

OBG NBP, Head Office Karachi.

Date

2J-: 'J. I I/

Time~

'1-S:

DATE
S.No: )

9 '-J

llJITI

S.Nt.
Head Office: LL Chundrigar Road, Karachi, Phone# 99212812- Fax# 9921,2243
PABX # 9212100-50 (50 Lines) Ext: 2333 -2450 & 2398

afz~~
i: sha~imtnatj~al~ar:k.c1~1Tl-.f~-';';~b~it:; www.nbp.com.pk
-----e-.m.ai
#im.,..~~ . ~J,,.,~~.~l\\fo.~,"''.li.:!i!i~U
------1

M11y-011orours All limic~ Letter {2l p)

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OVERSEAS BANKING GROUP

NBP: HO:KARACHI
BRIEF HISTORY

In order to revamping overseas operations the Overseas Banking Group was recreated vide
President Office Circular No.21 /2008 dated December 29, 2008 and Mr. Shahid Anwar Khan,
SEVP was appointed as Group Chief of OBG. Mr. M. Rafiq Bengali, Senior Executive Vice
President is now heading OBG as Group Chief w.e.f 16.12.2011, as President appointed him
Group Chief vide President Office Circular No. 17/2011 dated. December 12,2011.

The Group main organs consists of the following Division/Wings:-

1.

Financial institutions & Cash Management Division.

2.

Development, Administration & Logistics and Barter, Government Protocol &

Assignment Wing.

3.

Funds Management I Reconciliation and Credit Processing Wing.

~Financial Institution and Cash Management Division

The Financial Institution & Cash management Division is headed by Mr. Tariq Abdullah, Vice
President with direct reporting line to SEVP/Group Chief. The Fl&CMD was set up under
President Office Circular No. 09/2005 dated July 11, 2005. The objective of this re-structuring
was to enhance NBP's market share of Fl & Cash Management Business, provide superior
customer service to our Trade Finance as well as Correspondent Banking customers and
leverage our International network of branches, subsidiaries and representative offices.

The Fl&CM Division was brought under the Operations Group in order to ensure greater
synergy in Financial Institution & Cash Management business in terms of President Office
Circular No. 15/2006 dated July 18, 2006. However, as per President Office Circular # 15/2009
dated 16.7.2009,
Fl&CMD was placed under Group Chief OBG with the following broad
functions:
1.

Establishing correspondent Banking relationships.

2.

Processing of exposure limits for the correspondent banks.

3.

Processing of proposals received from correspondent banks for issuance of guarantees

by our domestic branches against counter guarantees of correspondent bank.

9.

Chinese interest free loans I grant under Government protocol.

10. Loans extended by French Republic under various Pak-French financial protocols for
financing of different projects in Pakistan.
11. Japanese grant for financing of different development projects in Pakistan.

12. Trade assistance of Islamic Development Bank for import of Palm Oil, Urea, and
Petroleum Fertilizer etc.
13. Assignment /Revolving Fund Accounts under old/ New procedure laid down by Ministry
of Finance, Government of Pakistan, Islamabad and State Bank of Pakistan.

Funds7Man-agement/Reconcilfation1.reditM?rocessing wing:
The main function of the Wing includes:
14. Management and maintenance of Head Office funds kept at overseas branches.

15. Maintenance and remittance of capital to overseas branches after approval from the
bank's Board of Directors and State Bank of Pakistan.
16. Processing of Credit Proposals received from different Branches.
17. Monitoring of Placement/Investment Positions of the Overseas branches in inter-branch
and inter-bank markets.
18. Monitoring and follow up of outstanding entries in Nostro Accounts reconciliation of
overseas branches.

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ANBP
\'r::P

National Bank of Pakistan

Compliance Group

CG/Waj/All-Issues/2012/623
Friday, August 8, 2014

PRIORITY
All Group Chief(s) I Divisional Head(s),
National Bank of Pakistan,
Head Office,
[forachi.

SBP INSPECTION REPORT AS OF 31.12.2012

COMPLIANCE STATUS OF ALL ISSUES I IRREGULARITIES

Please refer our earlier letter# HO: CG/WAJAll-Issues-12/617 dated 24.07.2014

regarding the captioned subject.
In this connection, please that BAC members .instructed in 166th (04/14) BAC
meeting dated 08.08.2014 that all issues would be reviewed in Board prior to
submission to SBP by the concerned Group.
Therefore, we hope that response of your Group regarding the subject matter
would besubmitted to us latest by 15.08.2014 as we have already requested via
our above said letter and further' please ensure your presence in the upcoming
said Board meeting in order to explain submissions of your Group prior to
submit the same to SBP accordingly.

Regards,

Kausar Iqbal Malik

SEVP I Group Chief

C.C: PSO to President.

Head Office: I. I. Chundrigar Road, Karachi. Phone# 99212812- Fax# 99212243

PABX # 9212100-50(50 Lines) Ext: 2333 -2450 & 2398

---

RE

.......~~~!l!!!!!!llllll!lllll!llle-l!lma
il: [email protected]. Websitea.njbpii.coiiiiimi.piik-----

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11

U.UC.

Office of the Group Ctiief (OBG)

DATE.-

H'

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S.No: _,?;-~TIME

INITIAL

\4
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Lettommnda

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Compliance Grn11p
HO:CG/SBl'l\V!l)l{AFT/2012/
December
16, 2013

S-/ '";

SECRET

{\~

The Group Chief (A),

Overseas Banking Group,
National Bank c,/ Pakistan,
Head Office,
Karachi.
Dear Sir,

SBP DRAFT INSPECTION REPORT A~_OF 31.l2.2U12

The SBP Inspection Team conducting inspection of our bank as of 31.12.2012

has since concluded their inspection and submitted Draft Inspection Report vide
their letter No BID (Insp)/18463/45/26-2013
dated l 0.12.2013.
The Inspection Team has advised us to submit
them along with a soft copy duly substantiated
the following format.

Sr.No.

Ref. No.
(2

our points of contest, if any, to

with documentary evidences on

SBP Observation

Bank's Comments

(3

(4

We shall appreciate if you please submit your Points of Contest, if any, latest by
20.12.2013
for onward submission to State Bank of Pakistan. Relevant portions
of the report containing SffP observations.
wholly or partially, pertaining to your .
Group are enclosed for your kind oerusal and necessary ation.

In case no points of contest are received with in the stipulated time, it will be
presumed that your Group has accepted the SBP observations as contained in the
Draft Inspection Report.
At the end, we reproduce hereunder the note of secrecy as mentioned
captioned report for strict compliance at your end.

m the

Quote
The inspection report is the property of the State Bank of Pakistan for use in its
supervisory responsibilities This report is furnished to the inspected bank for its
confidential use. This report is strictly confidential, and State Bank of Pakistan
Head Office:\.
e-mail

May0711)ruft

"

Rcpor letter -2012 Akmul s.iJ14

I Chundrigar Road, Karachi. Phone# 99212812- Fax# 99212243

PABX ti 9212100-50
(50 Lines) Ext: 2333 -2450 & 2398

afzafc_s~amiT@n. atior;_albank.c(Jm.p~

w_eb.~ite w_.ww.n,!;.com.pk

li\"~,-~:fil'll'ii~~\'.mU~W~~

-lmIJ

MJllUllWmEil'.lllilil

Compli a nce Croup

[orbids its disclosure in ony 111,11111,1 1111/1,i111

circumstances should be the hank 01 "111 11/ 11.1
or staff disclose or make public in 11111 111111111('1

11.1

[nior permission. Under 110

member, directors, officers,
report or any portion thereof

/10<1ul
1/11.1

Unquote

fully,

Shali:
Group

~Jtami

(J'V

Enclos res:
l. Relevant Portions of the report on Format X
2. Relevant Portions of Appendices on Format Y

Head Office: I. I. Chundrigar Road, Karachi. Phone# 99212812Fax 1199212243

PABX # 9212100-50 (SO Lines) Ext: 2333 -2450 & 2398
e-mail: afza.l.shamim(Qlnationalban~ COrn8k Website www.nbp.com.pk

Ellllll
Moy-07/l.)r:.1fl

Reper letter 2011 /l.\."mu!

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20,724.520

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16,375.4

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166. 764

2,431468
6,124.106

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667 136

73, 126.0jO

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41 .226

4,206414

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25.128

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4,357.858

48.450

Profits (Pre-Tax)

1,727.409

19.205

546.625

5.627

Profits (After-Tax)

1,457.748

16.207

134639

ROA (Pre-Tax)
ROA (After-Tax)
ROE (Pre-Tax)
ROE (Af\er-Tax)

0.98%

0.28%

0.83%

0.07%

9.78%

2.50%

8.25%

0.62%

~Assels
' Tot.al Equity

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125.123

14.60

6.285

48.435

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HO:CG/W AJ/Maj-Issues-12/ (d6
Thursday, July 24, 2014

All Group Chief(s) I Divisional Head(s),

National Bank of Pakistan,
Head Office,
Karachi.

~V~Group
/ . n~ ~

1v

\~~~~I

Confidential & Zost UrgeV

Dear Sir(s),

V'

<}\

~ SBP Inspection Report As of 31.12.2012

~1 ~
V)
SUPERVISORY LEVEL ISSUES REOUIRING IMMEDIATE ATTENTI~\0 \
The State Bank of Pakistan vide their letter# BID(Insp)/012968/54-28/2014 dated
17-07-2014
has submitted the Final Inspection Report on NBP as of 31.12.2012,
after making amendments in the light of our points of contest and discussion held
with SBP officials on draft inspection report.
The Banking Inspection (on site) Department of SBP has advised to resolve all
supervisory concerns and most important issues requiring immediate attention of the
Management and Board within 15 days of receipt of this letter that is 2"d August
2014.
Accordingly on the instructions of BOD, Board Audit committee is being held
on 5th August 2014 to discuss the supervisory concerns and most important
issues requiring immediate attention.
An attached sheet mentions the issues related to your group and accordingly your
replies in the relevant columns are required prior to the BAC meeting i.e.
05.08.2014.

~--------Please note that your group/division is already well versed with these supervisory
concerns as they have already been intimated during the inspection period and were
also communicated in the draft inspection report.
Please make sure your presence in the said meeting for explaining your submissions.
At the end, we reproduce hereunder the note of secrecy as mentioned in the captioned report
for strict compliance at your end.
Quote

"The inspection report is the property of the State Bank of Pakistan for use in its supervisory
responsibilities. This report is furnished to the inspected bank for its confidential use. This report is
strictly confidential, and State Bank of Pakistan forbids its disclosure in any manner without its prior
permission. Under no circumstances should be the bank or any of its board member, directors,
officers, or staff disclose or make public in any manner this report or any portion thereof"
Unquote

RECEIVED
Office of the Grou Ctiief OSG)
DATE
O ' I
Encl: As above

S.No: \
INITIAL

89

TIME

d 'Sr
/

SBP Directives I Corrective Actions

Regarding

Major Issues As of 31.12.2012

OBG
I

S#

Reference
Page# Para#

14
3.3

Timeline for
Compliance (
if Issue not
yet complied)

Almost all policies/procedures for overseas branches were not

yet approved by the BoD on the premise that their host
regulators did not require such approval, despite clear
regulatory instructions.

i5"k.(_

(j

--J~

~J

~<

The bank should diversify its income avenues to

support earnings and capital.
The BoD should review ToRs of management
committees and delegations made to President.

30

66
85

Bank's Compliance
(Issue complied
/action plan)

3
All provisions of the Banking Companies Ordinance,
the Banks Nationalization Act, NBP BY- Laws, Staff
Service Rules, Code of Corporate Governance and
regulartory instructions,
specifically exceptions
pointed out in the report, should be complied in
letterr and spirit.

8(i)

Issues in Brief

9(ii)

l3ank was paying benefits to overseas employees without'

lastl,
approval
of the board.
However, benefits
were
approved bv the operations committee in 2007. frhe bank
~ontinued to pay excess salary to Pakistan based employees
posted overseas at a conversion rate of 1 US$=Rs.50 which
was fixed Ill 1999, despite this issue being repeatedly
highlighted
SBP insnection renorts and
111
previous
significant devaluation of PKRJ It was observed that several
employees who have completed their tenor of posting at
overseas were not repatriated by the bank in violation of its
overseas posting policy.

1--

~
t1'Y1 ;f?A-~

Management should inculcate risk perspectives into

business decision making.

118

The bank did not give reason or provide

a business
plan to SBP for those foreign operations which had ROE
of less than 15~iolation
of BPRD Circular No.5 of
2009. In future, the bank plans to open branches in Dubai,
COiombo, India and a subsidiary
in Russia. SBP has also
given "in principle
approval"
for opening of branch 111 ~
Colombo.

25

.,,....--

101

9(v)

e--

~~

~rt

SBP Directives I Corrective Actions Regarding Major Issues As of 31.12.2012

OBG

S#

Reference
Page# Para#

33
6(ii)

37

Issues in Brief

Bank's Compliance
(Issue complied
/action plan)

Timeline for
Compliance (
if Issue not
yet complied)

During 2012, profit from overseas operation decreased from

Rs.1,457,748
million last year to Rs.134.639 million sharp
decline in profit was due to heavy losses contributed by Dhaka
branch.

20

The bank
earned
USO 1.596
million
(Rs.134.639
million)
through
overseas
operations
during 2012
compared to USD16.206
million (Rs.1,457.748
million)
last year. This sharp decline
in profit was due to
heavy losses suffered
by some of overseas
operations.
7 branches and I subsidiary reported losses for 2012 as
compared to 5 branches in 2011.
Total loss of overseas
branches amounted
to USO 19.019
million,
out of
which, USO 16. 789
million
was contributed
by Dhaka
branch, this constituted
88.28 % of overseas
branches
total loss. The Paris branch had been in loss for the last 5
years while branches in Seoul, Chittagong and Sylhet had
been in loss for the last two years.
Total
assets
of
'"Overseas
operauu11s . i11u easeo
to
USD.2, 177 .161
million (Rs.21
1,510.565
million)
as
of 31-12-12
compared
to USD.2,052..:.038
million
(Rs.184,572.000
millitions
for which local staff could be hired nor were
any ceiling
I floor of salaries/perks
of such staff
defined.lion
(Rs.16,375.418
million)
compared
to
USD.155
.026 million (Rs.13,943.951
million)
last year
mainly due injection of capital for opening of Subsidiary
m Dushanbe.
Overall financial highlights
of overseas
operations .

9(iv)

.~

39

9(vi)

40

32

The bank misreported

111 the
Shariah Advisor report
high I ighted in the annual audited accounts as of 3 1-12-12
by narrating that the net financing and investments have
increased
to Rs.3,297.000
million
from Rs.3, 119.000
million during the last year However, in actual there was
a decrease
in financing and investments
as highlighted
above.
The
management
should
ensure
transparent
practices in all areas of HRM and enforce proper
accountability mechanism in the bank.

lo

SBP Directives I Corrective

Actions Regarding Major Issues As of 31.12.2012

OBG

S#

Reference
Page# Para#

65

2
9(iv)

/}

19

Issues in Brief

3
Policies
of Tokyo,
Osaka,
Seoul, Ashgabat,
Baku,
Frankfurt and Paris
branches
were available only 111
local languages
and had not been approved
by HO.
Further,
no documents
validating proficiency
111 local
language
of Pakistani staff posted there were available.
One policy of Hong Kong and Kowloon was approved by
the BOO in 2010 while policies
in the areas of compliance,
credit,
liquidity
management
and investments
were
approved by management
committees in 2010 and 2007
instead
of BOD
and commercial
credit reference
agency policy and code of conduct were approved
by
the overseas
local
management.
All these
policies,
including
a policy for Bangladesh
operations approved
in 2008, had not been reviewed
after their formulation.
Regional Chief Executives were given authority
by the
board to hire local staff; however, no parameters were set
to define positions
for which local staff could be hired
nor were any ceiling I floor of salaries/perks
of such staff
defined.

--

Bank's Compliance
(Issue complied
/action plan)
4

//.

I ')_

Timeline for
Compliance (
if Issue not
yet complied)
5

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~- Rizwan Ullah
[email protected]
Wednesday, August 20, 2014 2:47 PM
Rizwan Ullah
Syed Azhar Ali; Nasir Husain; Shahid Nasim ([email protected])
Fwd: COMPLIANCEREPORT FOR SBP INSPECTIONREPORT 31-12-2012
SBP Inspection Report- NBP Hong Kong response.xlsx

From:

Sent:
To:
Cc:
Subject:
Attachments:

Dear Syed Azhar Ali

Pls find attached our response on compliance report for SBP inspection report 2012.

Best Regards
Mumtaz Rafi
SVP, Country Manager
& Chief Executive
National Bank of Pakistan
Hong Kong
Ph:
{00 852) 2850 7723
Cell: 00 852 ) 9634 1755
Fax: {00 852) 2845 1703
Email : [email protected]

From: "Rizwan Ullah" <[email protected]>

To: [email protected], [email protected], [email protected], "shoaib nbp"

<[email protected]>, [email protected], [email protected]

Cc: "Syed Azhar Ali" <[email protected]>
Sent: Tuesday, August 19, 2014 8:29:27 PM
Subject: COMPLIANCE REPORT FOR SBP INSPECTION REPORT 31-12-2012

Mr. Mehmood Kibriya, SVP/lnternal Control, NBP USA.

Mr. Mumtaz Rafi, SVP/Country Manager, NBP Main Branch, Hong Kong.
Mr. Muhammed Shoaib, VP/Country Manager, NBP Bahrain.
Dear (s).

"MOST UREGENT"

We have to advise that SBP has recently submitted their Final Report for
Their Inspection conducted for the period ending 31-12-2012 and desired the Compliance

mong other points, as per Annexure No: I (copy enclosed) they have reported observations
srtaln to Regulator's Reports of your countries. (only annexure No: I).
\is preparing the response/Compliance Report for above referred
tion Report. We need the rectification status of the observations
1

Rep&ted on in annexure No: I pertaining to your branch which will

Be incorporated

in OBG's Compliance Report.

You are therefore requested to send the rectification status as

Desired by SBP. Please you must send the above referred status till 20-08-2014.
Note: OBG has been shifted to FTC Building. NBP e-mail is currently
not working there. You are therefore requested to send the
response on e-mail of Mr. Rizwanullah, PS to Group Chief, OBG
currently

I am using.

Regards,
Syed Azhar Ali
Senior Vice President
OBG NBP Head Office
Karachi.

"This message contains confidential and I or privileged material intended solely for the addressee(s)
and any file(s) transmitted with it (attached &/or inserted within the main-body) are intended solely for
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If you are not the intended recipient of this email then please delete it without copying, distributing or
disseminating the contents of the same. If you are not an addressee, please inform the sender
immediately and destroy this e-mail. Do not copy, use or disclose this e-mail or any information
contained herein.
National Bank of Pakistan , takes reasonable precautions to ensure viruses or other computer
threats are not present in this message, however, National Bank of Pakistan , accepts no liability for
any damage caused by any virus transmitted by this email or other computer threats and it is the sole
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SBP In.~ H!Ction

OBG

Reeort /. . of'1.t.1., "'0'"'

Format ~ Y

Reference
S#

Page# Para#

I
I

SBP Obsenations

Bank's Conies! (if Any)

of statutory

We submit that previous on site examination of NBP Hong Kong

was conducted by local regulator HKMA in year 2008. Current local
management has taken appropriate steps in strengthening
systems & controls and enhacing profeshional expertise and
awareness of regulatory requirements of the senior staff trough
training and seminars. There is no contraviction of Banking
Ordinance during the last 5 years. Reporting to regulator is error
free. Further, external auditor's reports 63(3) & 63(3A) under
Banking Ordinance show that all banking returns are correctly
compiled. HKMA also shown their satisfication on NBP HK
operations in triparty meeting held on June 17, 2013.

D Hona Kona Branch

D- 1

Inadequate awareness

D - 2

D-3

High Concentration risk of holding

instrument in the asset portfolio.

requirements.

one single debt

NBP Hong Kong has enhanced & stregnthened AML systems &
controls and transaction monitoring process.The following steps
have been taken/implemented:
1. Remittance application form has been revised incorporating all
KYC requirements.
2. Account Opening Form (AOF) has been revised with KYC
requirements and updated terms & conditions as per local laws.
3. Names and entities are checked with negative list.
4. World compliance licence has been obtained for checking the
names /entities across political, financial,criminal
etc. risks
associated with the transactions.
5. OFAC / SFC list is regularly updated in data base.

Weak AML controls.

D-4

NBP Hong Kong has defiend the criteria for risk rating of
customers which is a conintue monitoring process. For all accouts,
risk ratina is assloned as Low Medium or Hioh.
D-5
Remittance form is completely revised with all details of remitter &
Details of remitters were either not mentioned or
beneficiary. All transactions of remittance are monitored specially
discrepant in remittance transactions.
Remittance
for walk in customers. For remittances over or equivalent
transactions by non account holders were not monitored. HK$8000, evidence for source of funds is also obtained as per
reoulatorv renuirement.
D-6 No record was maintained for non disclosed STR's.
Prooer svstem for reoortino of STR is in olace,
D-1
Negative List and Sanctions list issued and provided by OFAC, UN,
Terrorist list was not complete. While customer names
SFC and Local regulators are regularly updated in data base link
were manually cross matched with names in list.
with core bankinn svstern
D-8
A process is already in place and implemented at NBP Hong Kong
The branch did not have a database of names of
for updating the negative list data base. Sanctions list issued and
companies known to be involved in boiler room frauds as published by SFC is being regularly updated in data base which is
contained in the Alert list published by the Securities and linked with core banking system.
Future Commission of Hong Kong (SFC).
Risk rating of customers

I
I

One single debt instrument (GOP bonds) for US$17 million stands
matured in Feb. 2009. NBP Hong Kong has diversified its assets
nortfolio.

not defined.

o )
F(v)

2.63

63

A111i Money Laundering

F(v)

2.64

64.

NBP Hong Kong . Approval Of The Compliance Manual

F(v)

2.65

65.

lrucrnal Control

(AML) Policies NBP USA Operations

And Compliance Manual

NBP Bangladesh

Operations

F(v)

2.66
F(V)
2.67
Appendix I
I

A
A- I

TI1e bank did not have a sufficient policy framework which could cover investments, trade
finance business

and funds transfers.

A-2

Loans were disbursed without

ro er due dili zence.

A-3

The rnanagerncnt had disbursed

Joans prior to applying for approval of sanction from the head

office.
A ~4

A ~5
AAAAA-1
A- II

A-12

8-1
8-2
8-3
8-4

The bank has not been able to settle the outstanding balance of a loan against available deposit of
that borrower, until the borrower resolves his dispute with SBP for the deposit of amount USO

149.000 million included in the foreign currency reserves.

Portfolio diversification was required to reduce concentration risk because 63% ofNBP Bahrain
OBU's ex sure lay in the Oil, Gas and Petroleum Refining sector.
The OBU needed to diversify its deposit base to reduce liquidity risk. The bank of China
maintained a deposit with the OBU which constituted 42.95% of the total de sit.
Loans were misclassified.
The OBU did not prepare security valuation reports and no evaluation had been conducted
for the securities provided b Mr. Abdullah Saleh Al Rajhi.
The OBU needed to develo a com rchensivc BCP I DR Ian.
The OBU had weak internal controls and needed to automate recesses.
Deal slips were not time stamped and back office did not assess price rcasonability of deals. OBU
relied on price determined by dealer. Limit exception reports were not generated to monitor limit
breaches
The branch did not have a remuneration policy and discontinued paying bonuses to local staff
while it paid bonuses to Pakistan based staff.
Baku Branch
Regulatory report was translated by the branch into English. However it was still hard to
understand.
Polic ' framework of the branch was ve weak.
The branch did not maintain minimum r uired ca ital.
Capital requirement would be 50 million mantas from 01~01~14 while currently it is 10 million
mantas.

8-5
8-6
8-7
8 -8

C~ l

C-2

Internal audit docs 1101 review the work papers of outsourced internal auditors that were hired.
Head office oversight of outsourced service providers needs to be enhanced.
The Head Office Internal Audit Group received work papers alongwith final report

date re uired in Branch abandoned

ro ertv

from outsourced internal audit firm Mcgladrcydirectly . Jfthcr are any observation
they w:ill address their observation with internal audit finn MeGladrcy. In addition
NBP New York Internal Audit Coordinator also reviews work papers prior to
finalization of the report .Further more the Head Office Internal Audit through
Board Audit Ccmnuuce had reviewed and approved the extension of engagement
of the outsourced Internal Audit firm McGladrey for another two years.
During the course of the examination Accounting/Account Administration and
Compliance Manuals were amended to incorporate changcszupdntcs to the New York
Staie Abandoned Property Law. Completed on May 9.2012

clicv and roccdurc.

D
D-1
D-2

rtfolio.

D-3
D-4
D-5
D-6
D-7
D-8

etails of remitters were either not mentioned or discrepant in remittance transactions.

emittance transactions by non account holders were not monitored.
o record was maintained for non disclosed STR's.
crrorist list was not complete. While customer names were manually cross matched with names in
e branch did not have a database of names of companies known to be involved in boiler room
rauds as contained in the Alert list published by the Securities and Future Commission of Hong
on

SFC).

Appendix L

67

68

licies & procedures for a number of overseas branches and operations were not yet
, proved by the BoD on the premise that their host regulators did not require approval from the
BoD.
Oversight function of Overseas Banking Group (OBG) was weak. Group did not monitor
advances of overseas branches and had no comprehensive MIS available to monitor NP Ls and
revision re uired.
Com liance setu did not exist for overseas o orations.

--

00

-.!:! -< -<

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lnsncctlon Re )()rf As nrJJ.12.2012

Format Y

SBP

I
Reference
S#

OBG

,.
SBP Ob.11cn1ttlons

P11igc# Para#

I
I

"'

'"''
~

ii!

BMk's Contcsl (If Any)

D-.:

D-3

awareness of statutory requirements.

High Concentration risk of holding one single debt

instrument in the asset portfolio.

One single debt instrument (GOP bonds) for US$17 million stands
matured in Feb. 2009. NBP Hong Kong has diversified its assets
I portfolio.
NBP Hong Kong has enhanced & stregnthened AML systems &
controls and transaction monitoring process.The following steps
have been taken/implemented:
1. Remittance application form has been revised incorporating all
KYC requirements.
2. Account Opening Form (AOF) has been revised with KYC
requirements and updated terms & conditions as per local laws.
3. Names and entities are checked with negative list.
4. World compliance licence has been obtained for checking the
names /entities across political, financial,criminal etc. risks
associated with the transactions.
5. OFAC / SFC list is regularly updated in data base .

o~r::1,v,s,,o

v
c-:

D-~

D-5

I
I

D-6
D-7

D-8

./

._.;

,,

We s~bffiit tt'<at/revious on site examination of NBP Hong Kong

was conducted by local regulator HKMA in year 2008. Current local
management has taken appropriate steps in strengthening
systems & controls and enhacing profeshional expertise and
awareness of regulatory requirements of the senior staff lfrOuQiil
training and seminars. There is no contraviction of Banking
Ordinance during the last 5 years. Reporting to regulator is error
free. Further, external auditor's reports 63(3) & 63(3A) under
Banking Ordinance show that all banking returns are correctly
compiled. HKMA also shown their satisfication on NBP HK
operations in triparty meeting held on June 17, 2013.

Weak AML controls.

'

./

<'

D Hona Kona Branch

D-1

Inadequate

~-

'">

../~IV-rt

/VOttJ

NBP Hong Kong has defi~nl:!1~

for risk rating of
Risk rating of customers not defined.
customers which is a col}iOtU
onitoring process. For all accouts,
risk ratinq is essloned as Low Medium or High.
Remittanceform is completely revised with all details of remitter &
beneficiary. All transactions of remittance are monitored specially
Details of remitters were either not mentioned or
for walk in customers. For remittances over or equivalent
discrepant in remittance transactions. Remittance
transactions by non account holders were not monitored. HK$8000, evidence for source of funds is also obtained as per
regulatory requirement.
Prooer svstem for reoortino of STR is in otace.
No record was maintained for non disclosed STR's.
Negative List and Sanctions list issued and provided by OFAC, UN,
Terrorist list was not complete. While customer names
SFC and Local regulators are regularly updated in data base link
were manually cross matched with names in list.
with core banking system
A process is already in place and implemented at NBP Hong Kong
for updating the negative list data base. Sanctions list issued and
The branch did not have a database of names of
companies known to be involved in boiler room frauds as published by SFC is being regularly updated in data base which is
contained in the Alert list published by the Securities and linked with core banking system.
Future Commission of Hong Kong (SFC).

Asad Ali Shah

From:
Sent:

To:

Cc:
Subject:
Attachments:

[email protected]
Wednesday, August 20, 2014 3:11 AM
Rizwan Ullah
[email protected]
RE: COMPLIANCEREPORT FOR SBP INSPECTIONREPORT 31-12-2012
Copy of OBG SBP tracking report.xlsx

Dear Sir
We are attaching the tracking report after incorporating our comments.
Regards

Mahmood Kibriya

SVP Internal Control & Audit Coordinator

National Bank of Pakistan
100 Wall St. 21st Fl
New York, NY 10005
Direct Tel 212.710.3535
Tel: 212.344.8822 ext 3535
Fax: 212.809.4720
----------From: Rizwan Ullah [mailto:[email protected]]
Sent: Tuesday, August 19, 2014 8:29 AM
To: Kibriya, Mahmood; Regional Office; [email protected]; [email protected]; [email protected];
[email protected]
Cc: Syed Azhar Ali
Subject: COMPLIANCEREPORTFOR SBP INSPECITONREPORT 31-12-2012

Mr. Mehmood Kibriya, SVP/lnternal Control, NBP USA.

Mr. Mumtaz Rafi, SVP/Country Manager, NBP Main Branch, Hong Kong.
Mr. Muhammed Shoaib, VP/Country Manager, NBP Bahrain.
Dear (s),

"MOST UREGENT"

We have to advise that SBP has recently submitted their Final Report for
Their Inspection conducted for the period ending 31-12-2012 and desired the Compliance
Report.
Among other points, as per Annexure No: I (copy enclosed) they have reported observations
pertain to Regulator's Reports of your countries. (only annexure No: I).
OBG is preparing the response/Compliance Report for above referred
Inspection Report. We need the rectification status of the observations
Reported on in annexure No: I pertaining to your branch which will
Be incorporated in OBG's Compliance Report.
You are therefore requested to send the rectification status as
Desired by SBP. Pleaseyou must send the above referred status till 20-08-2014.
1

Asad Ali Shah

From:

Sent:
To:

Cc:
Subject:
Attachments:

Asim Nazir <[email protected]>

Wednesday, August 20, 2014 12:05 PM
Rizwan Ullah
Syed Azhar Ali
Re: COMPLIANCEREPORT FOR SBP INSPECTIONREPORT 31-12-2012
Compliance Regulators Report.docx; compliance.pdf

Syed Azhar Ali

Senior Vice President
OBG NBP Head Office
Karachi.
Dear Sir,
Kindly refer to your e-mail dated 19/08/2014 on the subject above and find attached the required information in respect of
our branch on the prescribed format as advised by your good self. Both signed/scanned version and Word/soft version are
attached here with for your necessary action please.
Thanking you,
Yours faithfully,
Asim Nazir
General Manager
NBP Baku Branch
Azerbaijan
Ph: +994-12-4643052
Cell: +994-12-505205444
----- Original Message ----- ----~-. . ---~--.,.,. . . ----,,z;pFr,,9m: Rizwan Ullah
To: [email protected]
Cc: Syed Azhar Ali
Sent: Tuesday, August 19, 2014 6:26 PM
Subject: FW: COMPLIANCE REPORT FOR SBP INSPECTION REPORT 31-12-2012

From: Rizwan Ullah

Sent: Tuesday, August 19, 2014 5:31 PM
To: '[email protected]'; '[email protected]'; '[email protected]'; shoaib [email protected];
'[email protected]'; '[email protected]'
Cc: Syed Azhar Ali
Subject: COMPLIANCEREPORTFOR SBP INSPECTIONREPORT 31-12-2012

Mr. Mehmood Kibriya, SVP/lnternal Control, NBP USA.

Mr. Mumtaz Rafi, SVP/Country Manager, NBP Main Branch, Hong Kong.
Mr. Muhammed Shoaib, VP/Country Manager, NBP Bahrain.
Dear (s),

"MOST UREGENT"
1

We have to advise that SBP has recently submitted their Final Report for
Their Inspection conducted for the period ending 31-12-2012 and desired the Compliance
Report.
Among other points, as per Annexure No: I (copy enclosed) they have reported observations
pertain to Regulator's
Reports of your countries. (only annexure No: I).
OBG is preparing
Inspection

the response/Compliance

Report. We need the rectification

Report for above referred

status of the observations

Reported on in annexure No: I pertaining to your branch which will

Be incorporated in OBG's Compliance Report.
You are therefore requested to send the rectification status as
Desired by SBP. Please you must send the above referred status till 20-08-2014.
Note: OBG has been shifted to FTC Building. NBP e-mail is currently
not working there. You are therefore requested to send the
response on e-mail of Mr. Rizwanullah, PS to Group Chief, OBG
currently I am using.
Regards,
Syed Azhar Ali
Senior Vice President
OBG NBP Head Office
Karachi.

"This message contains confidential and I or privileged material intended solely for the addressee(s) and any
file(s) transmitted with it (attached &/or inserted within the main-body) are intended solely for the use of the
individual(s) or entity to which they are addressed.
If you are not the intended recipient of this email then please delete it without copying, distributing or
disseminating the contents of the same. If you are not an addressee, please inform the sender immediately and
destroy this e-mail. Do not copy, use or disclose this e-mail or any information contained herein.
National Bank of Pakistan , takes reasonable precautions to ensure viruses or other computer threats are not
present in this message, however, National Bank of Pakistan , accepts no liability for any damage caused by

any virus transmitted by this email or other computer threats and it is the sole responsibility of the recipient to
ensure that the message or attachment(s) are free of the same."

Note: OBG has been shifted to FTC Building. NBP e-mail is currently
not working there. You are therefore requested to send the
response on e-mail of Mr. Rizwanullah, PS to Group Chief, OBG
currently I am using.
Regards,
Syed Azhar Ali
Senior Vice President
OBG NBP Head Office
Karachi.

"This message contains confidential and I or privileged material intended solely for the addressee(s) and any
file(s) transmitted with it (attached &/or inserted within the main-body) are intended solely for the use of the
individual(s) or entity to which they are addressed.
If you are not the intended recipient of this email then please delete it without copying, distributing or
disseminating the contents of the same. If you are not an addressee, please inform the sender immediately and
destroy this e-mail. Do not copy, use or disclose this e-mail or any information contained herein.
National Bank of Pakistan , takes reasonable precautions to ensure viruses or other computer threats are not
present in this message, however, National Bank of Pakistan , accepts no liability for any damage caused by

any virus transmitted by this email or other computer threats and it is the sole responsibility of the recipient to
ensure that the message or attachment( s) are free of the same."
Tlib m.::~::><ll:.~ is (:onfid,~rn ial and inL:'ndc-d .::xdu~i\:dv r~".lr {it:.:; !1!\(' orthe !ndi~,i~-Iu.r:i.1 1JI' cruiiv In \\hnm ii i::; rhkln.'~<.:;.';-1. This commumc.tt i1~n ma-- (":f;11!;dn1n1~,,-,nalir!:'; 1h.u :,:,, ri lljYi(.'\(ll')'' <;;ul~~..:;C! l~\
prnfossit;na1 pri\'.i.kJ,,_:.e or othcrw.se le~?,ali.y exempt fr~)m disclosure. lf you 2!\~not the nan~~~d :-1.ddr~!:)~;<:~\ Yon ~H~: not
to read, pc'nt.'r~;tarn, reproduce. copv
<fr:serumtk i'Jrn,
mcs:o>i.tJ;~ or any part of it without [he sendervs prior permission Any review. reliance cir distributicn by others or f~)[\.\'ttrdin- without express peruussiou b strictlv prchibned If you have
received lh::- tni>.~-ii.[~{.' in error. ph.:a"<<..: nutif'y th\.: ~{,.T1l'.l..T i~<;:ri.~dltl!:..'!i) l1y \:-nwi! il!Jd di;kk uJ] enpii;':' ofthe Hl\.''''::::-;g;,.:. Nn!hmg \.\)nl:nni:i..i thi'~ {..'~HH!j :'>hdl l.h.'. t:rnl\~tk-r;,;J:~ ';.;ga!h: !>mjm~

o~rcc'''""', amcn.lmcotor modification,,(any <i;roemcmwith Natinnal Bank er Pakistan or any of 'ts affil;ates eacn of wrucn requires a fully executed agreer-centto be received
by NatioPal Banko Pakstan or 'ts affrrotes

SBP Inspection

Reeort As ofJl.12.2012

Format - Y
S#

't."\

_,; _; Rcrercnce
Paec #

Para#

A1111cmlix

B (\-1)

B(v-1)

B(v-1)

C - ii

B(v-1)

Observations
A.

Bank's Contest (if An)')

SBP Observations

related to Board and Management

BOD Subcommittees

ii. Decisions

of BoD's

Involvement

in Day to Day Activities

Sub-committees:

C - ii (b) No briefing was given by all group chiefs about their strategics
the bank as directed by the BAC.

Appendix-D

(xiv) Observation

D (xiv)

D (xiv)

ii -

D (xiv)

ii - ! 3

Appendix-Fri)
F(i)

Anucndix-Ffiii)
F(iii)
I

Related

for improving the

performance or

to Asset Quality

ii. Loan Disbursement I Monitorine.

HO did not generate MIS for monitoring

of credit ceiling, exposure of overseas branches,

monitoring
of commodity
operations,
cases
sanctioned
beyond
discretionary
powers,
monitoring
of government guaranteed loans, region wise portfolio concentration and cases ol
excess over limit allowed bv rcaions.
Monitoring of overseas
portfolio remained weak despite increase
in overseas
infected
portfolio.Specific provision against some overseas borrowers was also held; however, same were
not included in the statement of classified assets (SCA).
Observations

on Control

Environment

Overseas banking group did not have consolidated policy or manual. Policies of branches in
Tokyo, Osaka, Seoul, Ashgabat, Baku, Frankfurt and Paris were available only in their local
languages. All these policies had not been approved at any level. One policy of Hong Kong
and Kowloon and one for Bangladesh were approved by the BOD in 20 JO and 2008
respectively;
however, same were not subsequently reviewed. Some policies for foreign
branches were approved by management committees in 2007 and 20 I 0 instead of the board of
directors: further, these policies were not reviewed afterwards.

Observations
I. E-Remittance

Related to Information
Svstem

and Communication

F(iii)

I I

Bank was offering three products for remitting money to Pakistan from abroad viz. Pak
Remit, Force Cash and Foree Transfer.
Global Horne Remittances
Management
Group
(GHRMG) manages Force Cash and Force Transfer whereas Pak Remit which is a webbased application hosted in US is being managed by Overseas Banking Group (OBG).
Customers having account in US could electronically
instruct their bank to remit money to
Pakistan through NBP-NY. OBG role in managing this product was to the extent of
collection of funds in NBP-NY
from where onwards the payment is made through cRemittance System being managed by GHRMG. The other two products Force Cash and
Foree Transfer products are also managed by GHRMG therefore natural affiliation of
Pak Remit too lies with GHRMG, which was specifically
fanned by the bank for Home
Remittances.

F(iii)

1- 2

The money through Pak Remit is first collected at NBP-NY branch in T+2 days and
thereafter remitted to beneficiary's
account at any NBP branch in Pakistan. Due to minimum
delay of3 days involved in clearing and settlement at US, the turnover through this product
was not encouraging as only 17,667 remittances amounting to US$ I0.824 million were
recorded in 2012 as compared to Foree Cash and Force Transfer whereby 1,155,741
home
remittances worth Rs. 47.328 billion were paid over the counter and 521,332
home
remittances amounting to Rs.38.317
billion were credited lo NBP and other bank's customer
accounts respectively
during the year 2012.

F(iii)

I-3

Bank daily receives Force Transfer & Force Cash data from its 26 tie ups abroad and Pak
Remit data from NBP-NY branch and then upload the same into e-Remittnnce system. It was
noted that the received confidential data including secret code of home remittances
was
still viewable to several insiders as also pointed out in the last IS Inspection Report.

F(iii)

I-4

All tie ups were maintaining Non-Resident

Rupee (NRR) accounts with NBP under the
provisions of PR! Scheme except National Exchange Co. (NEC) of UAE, for which GL
code (296) was dedicated at Main branch, Karachi. This GL code was not in use of any
other branch though transaction in this GL code was unrestricted
in EBS at all branches.
Tims, it could be used for routing fraudulent
transactions.
NEC was also issuing drafts in
PKR from its 5 subsidiaries
viz. NEC Abudhabi,
NEC Dubai, NEC, Sharjah, NEC Subway
and NEC Al-Ain, which were payable at any domestic branch ofNBP.
It was noted that
13,415 remittances were credited to respective customer's
accounts with a delay of 3 days or
more in Violation of PSD Circular
2 of 20 IO. On the other hand, 42,869 split remittances
were credited to beneficiaries'
accounts to claim IT charges of SAR 25 per US$ 100 or above
as permissible under PRI scheme.

F(iii)

F(iii)

M- I

M. Compliance of IS Inspection
Compliance

bank

10

1 ! 2012
F(iii)

M-2iii

Appendix-F (v)
F(v)
2
F(v)

F(v)

FM

letter

No.

following observations

in the light of action

ITD/CIO/SBP

IS

plan submitted

Insp-11/2012/302

dated

by the

29-

were noted:

3.
In order 10 reduce turnover of rejected home remittance transactions
and form an
auditablc trail, exchange of electronic transactions
between bank and its tie ups abroad on
standardized data structures was recommended
but no development was seen in this regard.
Observations
Related to Compliance
Following oolicics have not been reviewed by Compliance:Sr.#
Name of Policy I Manual

2.44
2.45

43.
44
45.

Approval OfNBP Americas Region Wisc Transfers (Payments & Receipts) Policy
Approval Oftntcruauonal
Banking Facility (!BF) orNBP Americas Region
Approval OfNBP Americas Region Archives And Records Retention Policy

2.46
2.49

46.
.i9.

Approval OINBP Americas Region Security Policy & Procedures

Guidance On Prevention Of Money Laundering Adopted ByNBP Bangladesh Operations

2.40

F(v)

FM

and

vide

Criteria For Determining Country Risk Exposure Limits For NBP Overseas Branches
Credit And Trade Finance Manual For NBP Hong_Kong_Opcrations.
Anti Money Laundering Policy OINBP Hong Kong Operations
Approval Or Vcndcr Management Policy OfNBP Americas Region

F(V)

F(v)

OSED

Report as of 30-6-2011
report was checked

2.
8.
40.
42.

F(V)

F(v)
F(v)

of IS Inspection

Asad Ali Shah

From:

nbpbn < [email protected] >

Wednesday, August 20, 2014 1:46 PM
Rizwan Ullah
Syed Azhar Ali
Re: COMPLIANCE REPORT FOR SBP INSPECTION REPORT 31-12-2012
SBP OBG REPORT.xlsx

Sent:
To:

Cc:
Subject:
Attachments:

Dear Sir,
Please find attached herewith

compliane report for your kind information and for onward submission

to SBP.

Best Regards
Muhammad Shoaib
General Manager
----- Original Message ----From: Rizwan Ullah
To: [email protected] ; [email protected] ; [email protected]
[email protected] ; [email protected]
Cc: Syed Azhar Ali
Sent: Tuesday, August 19, 2014 3:29 PM
Subject: COMPLIANCE REPORT FOR SBP INSPECTION REPORT 31-12-2012

; shoaib

Mr. Mehmood Kibriya, SVP/lnternal Control, NBP USA.

Mr. Mumtaz Rafi, SVP/Country Manager, NBP Main Branch, Hong Kong.
Mr. Muhammed Shoaib, VP/Country Manager, NBP Bahrain.
Dear (s),

"MOST UREGENT"

We have to advise that SBP has recently submitted their Final Report for
Their Inspection conducted for the period ending 31-12-2012 and desired the Compliance
Report.
Among other points, as per Annexure No: I (copy enclosed) they have reported observations
pertain to Regulator's Reports of your countries. (only annexure No: I).
OBG is preparing the response/Compliance
Report for above referred
Inspection Report. We need the rectification status of the observations
Reported on in annexure No: I pertaining to your branch which will
Be incorporated

in OBG's Compliance Report.

You are therefore requested to send the rectification status as

Desired by SBP. Please you must send the above referred status till 20-08-2014.
Note: OBG has been shifted to FTC Building. NBP e-mail is currently
not working there. You are therefore requested to send the
response on e-mail of Mr. Rizwanullah, PS to Group Chief, OBG
currently I am using.
1

[email protected];

Regards,
Syed Azhar Ali
Senior Vice President
OBG NBP Head Office
Karachi.

"This message contains confidential and I or privileged material intended solely for the addressee(s) and any
file(s) transmitted with it (attached &/or inserted within the main-body) are intended solely for the use of the
individual(s) or entity to which they are addressed.
If you are not the intended recipient of this email then please delete it without copying, distributing or
disseminating the contents of the same. If you are not an addressee, please inform the sender immediately and
destroy this e-mail. Do not copy, use or disclose this e-mail or any information contained herein.
National Bank of Pakistan , takes reasonable precautions to ensure viruses or other computer threats are not
present in this message, however, National Bank of Pakistan , accepts no liability for any damage caused by
any virus transmitted by this email or other computer threats and it is the sole responsibility of the recipient to
ensure that the message or attachment(s) are free of the same."

Asad Ali Shah

From:

[email protected]
Wednesday, August 20, 2014 2:47 PM
Rizwan Ullah
Syed Azhar Ali; Nasir Husain; Shahid Nasim ([email protected])
Fwd: COMPLIANCEREPORT FOR SBP INSPECTIONREPORT 31-12-2012
SBP Inspection Report- NBP Hong Kong response.xlsx

Sent:
To:

Cc:
Subject:
Attachments:

Dear Syed Azhar Ali

Pls find attached our response on compliance report for SBP inspection report 2012.

Best Regards
Mumtaz Rafi
SVP, Country Manager
& Chief Executive
National Bank of Pakistan
Hong Kong
Ph:
(00 852) 2850 7723
Cell: 00 852) 9634 1755
Fax: (00 852) 2845 1703
Email : [email protected]

From: "Rizwan Ullah" <[email protected]>

To: [email protected], [email protected], [email protected], "shoaib nbp"

<[email protected]>, [email protected], [email protected]

Cc: "Syed Azhar Ali" <[email protected]>
Sent: Tuesday, August 19, 2014 8:29:27 PM
Subject: COMPLIANCE REPORT FOR SBP INSPECTION REPORT 31-12-2012

Mr. Mehmood Kibriya, SVP/lnternal Control, NBP USA.

Mr. Mumtaz Rafi, SVP/Country Manager, NBP Main Branch, Hong Kong.
Mr. Muhammed Shoaib, VP/Country Manager, NBP Bahrain.
Dear (s),

"MOST UREGENT"

We have to advise that SBP has recently submitted their Final Report for
Their Inspection conducted for the period ending 31-12-2012 and desired the Compliance
Report.
Among other points, as per Annexure No: I (copy enclosed) they have reported observations
pertain to Regulator's Reports of your countries. (only annexure No: I).
OBG is preparing the response/Compliance Report for above referred
Inspection Report. We need the rectification status of the observations
1

Reported on in annexure No: I pertaining to your branch which will

Be incorporated in OBG's Compliance Report.
You are therefore requested to send the rectification status as
Desired by SBP. Please you must send the above referred status till 20-08-2014.
Note: OBG has been shifted to FTC Building. NBP e-mail is currently
not working there. You are therefore requested to send the
response on e-mail of Mr. Rizwanullah, PS to Group Chief, OBG
currently I am using.
Regards,
Syed Azhar Ali
Senior Vice President
OBG NBP Head Office
Karachi.

"This message contains confidential and I or privileged material intended solely for the addressee(s)
and any file(s) transmitted with it (attached &/or inserted within the main-body) are intended solely for
the use of the individual(s) or entity to which they are addressed.
If you are not the intended recipient of this email then please delete it without copying, distributing or
disseminating the contents of the same. If you are not an addressee, please inform the sender
immediately and destroy this e-mail. Do not copy, use or disclose this e-mail or any information
contained herein.
National Bank of Pakistan , takes reasonable precautions to ensure viruses or other computer
threats are not present in this message, however, National Bank of Pakistan , accepts no liability for
any damage caused by any virus transmitted by this email or other computer threats and it is the sole
responsibility of the recipient to ensure that the message or attachment(s) are free of the same."

Secretary's
Group
Ph. 9212224 Fax. 9212239
HO:SBoD:OPS

J / CJ;y'

October 03, 2007

CONFIDEN,fl'IAL
Mr. Tahir Yaqoob,
EVP/Group Chief,
Overseas Co-ord,
& Management Group,
National Bank of Pakistan,
Head Office,

KarEchi.

Dear Sir,
EXTRACT (S) FROM THE MINUTES OF 108rn (A) EMERGENT OPERATIONS
COM:rillTTEE MEETING HELD ON SEPTEMBER 20, 2007.
I/

We enclose, for your necessary action extracts from the above minutes, in respect of the
under noted items>

ITEM NO.

MEMO NO.

2.1 &2.2

General

Yours

Dilcferely~

lf\/ /)

( Ekhlaq Ahmed )
EVP/ Secretary

Encl:

(a.a)

_
Office of the Secretary Board of Directors
2nd Floor, Head Office, I.I. Chundrigar Road, Karachi. Ph: 9212153 Fax: 9212269
website: www.nbp.com.pk

2.

General:

2.1

Com ensation Packa

The Group Chief, OC&MG explained that the Compensation Package of

Overseas employees was last revised in the year 2000 and in view of the
increased cost of living, it now needed to be revised. He proposed the following
improvements:
a) 25% increase in the existing Overseas Allowance for the respective
Overseas stations.
b) The current rent ceiling entitlement of Executives/Officers as per their /
grades at various locations may be allowed to be converted in House Rent
Allowance to be directly paid to the employee as allowed domestically.
c)

Currently different practice is allowed at different stations with regard to

Medical Facility. At some places medical ceiling is allowed while at others
Medical Insurance is provided. The Overseas employees have complained
that due to change in Parity rate of US Dollars, their entitlement has
reduced. He proposed for introduction of Group Medical Insurance Scheme
at all places.

Some members observed that the ma

being HR related, it should contain
!JfOmme_g ations of HR Gro.!!P, to which Committee agree . owever, after
detailed discussion and considering that no increase was allowed for the past
seven years whereas cost of living Overseas had gone very high, the Committee
approved an increase of 20% in the Overseas Allowance at all Overseas Stations
on Adhoc basis w.e.f~ October 01, 2007 which shall be subject to adjustment
against final increase if any allowed, which shall be determined on receipt of a
final proposal/recommendations from HRM&AG for revision of the Overseas
Compensation Package after conducting a study of practices at eer ou
ba s. he orma proposa after the study to e submitted b RM&AG within
a month time for omm1ttee s consideration/recommendation to the Board for
approval.
The proposal for conversion of House Rent Ceiling into House Rent Allowance
was discussed in detail and in view of the members' observation that it may
compromise the quality of living standard, it was decided to continue with the
existing policy of Rent Ceiling. The Committee, however, allowed exception
only for Mr. Asif Hassan, RCE Far East Region as already approved by the
President during his recent visit of Hong Kong.
The Committee decided that the proposal for Group Medical Insurance shall be
covered in the comprehensive Overseas Compensation Package for which
HR.1\1&AG shall submit the formal proposal after study at peer group banks.

~oeraficns Committee Meetin~

2 0 SEP 2007

)_.

2.2

Held OG

Performanc
e of Overseas franchise
The President said that he was concerned that apart from Bangladesh &
Afghanistan the overseas franchise was not performing up to its potential. He
said that the BoD, SBP, shareholders and media were all critical of our overseas
performance. Despite repeated commitments, the Overseas Regions/branches
had failed to improve their Trade Finance business. The amount of Capital
invested into Overseas franchise, if invested into other business could fetch
much more revenue than generated by the Overseas Offices.
The quality of HR posted abroad and matter of overstay of employees than the
period prescribed in Banks' own policy were also discussed.
The President suggested various options including restructuring of the function
as an International/FI Group, restructuring of Middle East Region, sponsoring
of Overseas Regions by different Group Chiefs, etc and asked the members to
come up with a viable solution for improving the Overseas performance which
shall soon be discussed by the Committee.

OVERSEAS COORDINATION & MANAGEMENT GROUP

NBP, HEAD OFFICE, KARACHI

September 19, 2007

MEMO TO THE OPERATIONS COMMITTEE
OVERSEAS STAFF- REVISION OF BENEFITS

The Board of Directors in its meeting held on 141h July, 2000 had approved revision in
the p'ay ipaokage for the staff posted in the bank's overseas offices :__:. mostly due to
revision of the basic pay in the bank's domestic staff. It is worth mentionmg that the high
cost of living abroad is compensated to the overseas staff through an allowance called the
"overseas allowance", which forms major part of the take home salary.

Unlike the domestic staff in whose case the rent, medical and utilities allowances which
are expressed as a percentage of the basic pay and hence they increase with the annual
increase in the basic pay, all such allowances in case of the overseas staff are fixed.
Except for the annual increase in the basic pay in line with the domestic staff, which in
terms of US Dollar translates into a meager figure, there has been no revision in the
salary and allowances of the overseas staff since the year 2000, i.e. seven years. Thus in
order to cover the inflation, there is a need to revise the entire pay package of the
overseas staff, which is a time consuming exercise.
However, in order to provide an immediate and just relief to the overseas staff, the
Operations Committee is requested to consider and approve revision of the following
allowances allowance w.e.f. l " September, 2007:
1. Overseas Allowance:

Taking into consideration an average inflation of 4% for the last seven years, i.e.
total increase of 28%, it is recommended to increase the overseas allowance of the
staff by 25%.
2.

House Rent Ceiling/Allowance:

In terms of Head Office Instruction Circular No. 106/2003 dated 6th December,
2003, the Bank approved cessation of the "House Rent Ceiling" towards "House
Rent Allowance" and thus payment of the house rent allowance to the staff of the
Bank instead of the landlord, the President approved payment of the House Rent
Allowance to the RCE Far East instead of the House Rent Ceiling per the RO
Hong Kong Office Note dated io" September, 2007 (copy enclosed).
Accordingly, the rent ceiling presently being paid to the landlords of the overseas
staff is recommended to be paid to the Pak based staff posted abroad with the
amount of this facility remaining unchanged. The incidence of tax and all other
related charges presently being paid by the Bank on such rent ceiling will
continue as such.
Cont'd.P/2 ..

-2 -

3. Education Allowance:
Presently, the bank is paying 50% of the tuition fee upto three school going
children of the overseas staff. We understand that the staff of Pakistan Embassies
are provided this facility upto 80%. Hence, it is recommended to increase the
Tuition Fee from 50% to 70% upto three school going children on reimbursement
basis.
4.

Medical Facility:
Presently, the medical facility is being paid either in the
insurance and social security at some of the stations, while at
staff is being reimbursed upto two basic salaries to cover the
and consultation/laboratory tests etc. In order to streamline
proposed as under:
a)

b)

form of medical
other the overseas
cost of medicines
this facility, it is

At all stations, where the scheme of medical insurance is available, all

the Pak-based as well as the local staff be insured under a Group
Medical Insurance Scheme at the Bank's cost.
At other stations, the Pak-based staff be reimbursed upto THREE basic
salaries to cover the cost of medicines and consultation/laboratory tests
etc. IN case of the local staff at these stations, the existing facility will
continue as per local laws.

(S. M.
lf ukhari)
10r Vice President

Group Chief (HRM&AG)

,
The Secretary,
Operations Committee

IV/~

,M.v.'-/-; w.-J

""""tJ(,v ~~
~IJ:.

t-rc/r.)k...,

t:

OVERSEAS BANKING GROUP

TE.LNO. 9212729 & 9212845. FAX NO. 9213170 & 9212706.

No. OBG/ADMN/SBP INSPECTION/2014/'."\

August 06, 2014

The SVP/Divisional Head

Compliance Group
National Bank of Pakistan
Head Office
KARACHI

Dear Sir,
SBP INSPECTION REPORT AS OF 31.12.2012SUPERVISORY LEVEL ISSUES REQUIRING IMMEDIATE ATTENTION

Please refer to your letter No. HO:CG/WAJ/Maj-lssues-12/616 dated July 24, 2014 on
the above referred subject.
In this connection, please find enclosed herewith OBG's response on SBP identified
issues sent with your above referred letter, for your further necessary action.

Yours sincerely,

(!

'

( SYED ~HAR ALI )

SENIOR VICE PRESIDENT

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Compliance Group

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CG/Waj/Pres~Req/ ~
Monday, August 11, 2014

All Group Chief(s) I Divisional Head(s),

National Bank of Pakistan,
Head Office,
Karachi.
PRIORITY

PRESENTATION REQUIRED FOR UPCOMING SBP INSPECTION

The 166th (04/ 14) Board Audit Committee (BAC) dated 08.08.2014 has directed to each
Group I Division Head to develop a formal Presentation for upcoming SBP Inspection
that covering at least following areas.
~
~

Organogram.
Latest Compliance

~
~

action plan.
Action taken to mitigate the repeated instances I issues.
Short Term I Long Term strategies for improvement of internal control and
enhancement of Profitability.

~\

Status on "SBP Inspection

Report -2012" with time bond

\,w

.'at the above said presentation must be

The Board Audit Committee also emphasizi
made prior to start the upcoming inspectiori'' set the tune and invite the focus of the
Inspection Team.
Therefore, each Group I Division is required to finalize a Presentation on above
identified areas. Please feel free to include any other information that you deem fit and
appropriate. Presentation will be organized by the concerned Group I Divisional Head
himself (in coordination/ consultation with Compliance Group) prior to upcoming SBP
Inspection team that would be expected within a week time.

Regards,

Kausar Iqbal Malik

SEVP I Group Chief

C.C: PSO to President.

Head Office: I. I. Chundrigar Road, Karachi. Phone# 99212812- Fax# 99212243

PABX # 9212100-50 (50 Lines) Ext: 2333 -2450 & 2398
.............
May-07/Presc:ntalion

e-.mail:
Required

[email protected]===Website: www.nbpii.ciiiomlii.ipkiilll

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# A&IGIBAC SSW/C0/166104120141
22nd July 2014
National Bank of Pakistan

CONFIDENTIAL

Mr. Farrakh Qayyum

Chairman Board Audit Committee

Mr. Muneer Kamal

Member Board Audit Committee

Mr. Tariq Kirmani

Member Board Audit Committee

Mr. Rana Assad Amin

Member Board Audit Committee

Mr. Muhammad Naeem

Member Board Audit Committee
Dear Sir (s)

We are d" cted to advise that the 1661h (04/14) Meeti g of

held o Tuesday , Augus_t 5th, 2014 at 10.00 a.m. in the
Build" g, I .I. Chundrigar Road, Karachi.
A

nda of the meetin

Review of the SBP Inspection Report.

Review of the IRAF R\port.
You are

quested to kindly

~garcls,

ake it co

aIf ct

f2!l11-

Yours sincerely,

BARBR CE ISHAQ
EVP/Head of A&IG (A)
Secretary, Board Audit Committee
C.C. to:

---crfle President,
2.
3.

4.

5.
6.

National Bank of Pakistan, Head Office; Karachi tcirTnformaiion.

The SVP/PSO to the President, President Secretariat, NBP I Head Office, Karachi for information.
The EVP/Secretary BoD, NBP, HO, Karachi for information.

The EVP/Group Chief (Acting), Compliance Group, NBP, Head Office, Karachi. You are requested to
furnish the above Agenda items In hard (10 sets) and soft form well in advance of the meeting date to
enable us to review, compile and organize the agenda for submission to the Committee timely.
All Group Chiefs/Divisional Heads/Wings Heads of A&IG, NBP, HO, Karachi with the request to
please remain available in their chambers to attend the queries of Board Audit Committee.
The SVP, Logistic Support, Security & Engineering Group, NBP. HO. Karachi with the request to please make
necessary arrangements for participants of above meeting, including refreshmenV lunch and protocol to the
directors. Also please make arrangements of a car for Mr. Tariq Kirmani, Director NBP & Member Board Audit
Committee and Mr. Mun~er Kamal, Director NBP & Member Board Audit Committee residence Q~_b9ur before
the Board's Audit Committee meeting, as desired by them.

National Bank of Pakistan

RECEIVED
Office of the Gro
2--'2-- ~~

Cfiief (OBG)
r-:

-~"-

Head Office, I.I. Chundrigar Road,Karachi.Ph : 99220100 ( 50 lines )

Website: www.nbp.com.pk

3.S-2-

@ NBP

National Bank of Pakistan

,/

HO:CG/W AJ/Maj-Issues-12/
Wednesday, August 6, 2014.

"'-~

All Group Chief(s) I Divisional Head(s),

National Bank of Pakistan,
Head Office,
Karachi.
Confidential & Most Urgent

SBP Inspection Report As of 31.12.2012

SUPERVISORY LEVEL ISSUES REQUIRING IMMEDIATE ATTENTION
Refer our earlier letter # HO: CG/WAJ/Maj-Issues-12/616 dated 24.07.2014
regarding the captioned subject.
We are still awaiting response regarding SBP identified issues for further
submission to SBP accordingly.
It is important to mention here that your Group's issues will be discussed in
upcoming 166th (04/14) BAC meeting scheduled on 08-08-2014 at 10.00 a.m.
Therefore, please ensure your presence iii the said meeting in order to explain
submissions of your Group.

We hope that response of your Group regarding the subject matter would be
submitted to us latest by 07.08.2014.

Regards,

Received

EVP I Group Chief (A) Secretriat

OBG. NBP, Head Office Kmchi.
Date

b. l/. I 9

S.No.

RE

c Ee v

ED

Office of the Grou_p ChiW~

DATE .Ob o~. I~
S.No: L.'2-0

INITIAL

TIME

Head Office: I. I. Chundrigar Road, Karachi. Phone# 99212812 Fax# 99212243

PABX # 9212100-50 (50 Lines) Ext: 2333 -2450 & 239B
e-mail: [email protected].
Website: www.nbp.com.pk
or Issues

3 : 4f OIYJ

L""' Remind"

............ 111111........

Time

4, 2 ?11-1

OVERSEAS BANKING GROUP

Te!ogram SUMMIT' Tel No. 9212729

N~01;~~~~;~~~~~ATE OF CONVERSION/SMBBI

The
The
The
The

9212845

Fax No. 9210170 & 9212706

8 2--(

June 24., 2013

Country Manager, America, Hong Kong, Japan and Bangladesh

Executive In-charge, Controlling Offices, Central Asian Republics & Afghanistan
General Manager, Frankfurt, Paris, Bahrain, Riyadh and Seoul Branches
Manager, NBP: EPZ Branch, Karachi

Dear Sir,
RATE OF CONVERSION OF PAK RUPEES INTO US DOLLAR
FOR THE PURPOSE OF BASIC PAY OF PAK BASED STAFF
POSTED ABROAD
Kindly find enclosed Personnel Administration Wing, HR Management & Administration
Group, Head Office letter No. HRM&AG/P&IRD/.PAW/OHRS/2013/8039 dated June 04, 2013
conveying decision of the Bank's Board of Directors which has taken in its meeting held on May
03, 2013 on the above referred subject.
In view of above referred decision of Board of Directors, we are taking up the matter
regarding fixation of basic pay of Pak based staff posted abroad with HR Management &
Administration Group, Head Office which will be advised accordingly.
This is for your information please.

lJ
ENCLS: (A/A)

( SYED
HR AU)
SENIOR, CE PRESIDENT

National Bank of Pakistan

Head Office. l.l. Chundrigar Roao.Karacht.Ph : 99220100 ( 50 lines )
Website:

NnUono!

.lfonk of PokHt(J11

P & f R Division.
Ref: HRM & AG/P&LRD/PA\V/

OHRS/2013/

.-Vu

Personnel Administration Wing,

H R M & Administration Group.

J'/

June

'y, 20l3

Mr. S. lVL Haqir Bukhar-i,

Vice President,

Senior

Overseas B:mkrng

Jroup

National Bank of Pakistan,

llcad Office,

Karachi.
Dear Sir,
RATE OF CON'VERSION

OF PAK RUPEES lNTO lJS DOLLAR

FOH THE PURPOSE OF BASJC PAY OF PAK BASED STA FF POSTED ABROAD

We have

10 advise

taken the decision

d1a1

in respect

basic pay of Pak-based

information

the Banks

Board of Directors

of rate of conversion

NBP employees

in its meeting held on May J. 2013, has

into US dollar for the purpose

posted abroad, copy or which

of fixation

of

is enclosed for your

and onward communication Lo all concerned.

Regards,

Sincerely yours,

{/,.,11-~~
(i\lUIIMvIMAD AFS},R)
SVP/Wing Head (PAW)

Encl: As above
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A&-rtbttat'Cantc-o"f'P-al(iStatr
Head Otfice: ll. Cbundriqar Road. K8rachi. Ph: 9212100 (50 lines)
wet};Re; www.nbp.corn.pk

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I l<.'>l(J'.
01< l'AJ\. J<ll'Ll:.'> J,'\'l l) CS S FOR THE
\_.'d~.--1_'.~J.~!::Y Al~J_l.c2.01'.1.J .') L\FF POSTED ABHO:\D

lh: l~u;mi considered .[-f1<1\'1 & Admirustruuon Group's Agenda Paper Nu. 1)7/iJ elate l
03-05-~0i 3 n~garc!ing rate o Icouvcrxiou of Pak Rupees into US$ for the purpose of basic

.1.1

pay of l'ak based Staff posted abroad.

7.2

The EVP I Coordinator - HRM&AG informed that the Board in its 215th meeting held on
27-07-2012 directed HRM&AG to prepare a comparison taking into consideration the
practice being followed in peer group Banks (HBL, MCB-; and UBL) alongwith rationale
for recommendations. In view thereof, the proposal was deferred for resubmission by the
HRM&AG in a subsequent meeting through Board HR Committee.

7.3

The EVP I Coordinator - HRM&AG informed the Board that as per directive of the
Board, a study was conducted and the practices of peer group banks were assessed. He
proposed that instead fixing the rate of Pak Rupees with US$ for an extended period of
time (as is done presently in NBP), the rate of conversion of rupees into US$ for the
purpose of fixation of basic salary should be determined every year in January on the
basis { f average of month end rates during preceding year (12 months - end closing
rates/12) rounded down to the tenth place. The SBP mark to market revaluation exchange
rates for authorized dealers to be used for the same. However, the amount of basic pay of
Pak based employees posted abroad so reduced after revision of conversion rate w.e.f
01-01-2013, shall be compensated by way of commensurate increase in their respective
Overseas Allowances. In this way, the escalation in currencies will be mitigated and the
relevant observation of SBP appearing in its report as of 31-12-2011, will also be
rectified,

7.4

The EVP I Coordinator - HRM&AG apprised the Board that the proposal was placed
before the Board HIZ Committee in its 108111 meeting held on April 30, 2013, whichduly
cleared the same for placement before the Board of Directors with the condition that
proposed arrangement shall only be applicable to the currently serving Pak based
employees posted abroad and shall not apply to the officials posted abroad subsequently.

7 "

After deliberation, the Board approved the proposal, by passing the following resolutions:

I.

"RESOLVED THAT the proposal as contained in Agenda Paper No.

97/13 dated 03-05-2013 of FIRM & Administration Group, seeking
approval for fixing the rate of conversion of rupees into US$ for the
purpose of fixation of basic salary, be determined every year in January on
the basis of average of month end rates during preceding year (12 months
- end closing rates/I 2) rounded down to the tenth place by using SBP
mark to market revaluation exchange rates for authorized dealers, as
recommended by Board HR Committee, be and is here approved."
"FUI~THER RESOLVED THAT the amount of basic pay of Pak based
ernplo ees posted abroad. so reduced after revision of conversion rate
w.e.f
Ol-01-2013,
shall be compensated by way of commensurate
increase in their respective Overseas Allowances, subject to condition that
this arrangement shall only be applicable to the currently serving Pak
based employees posted abroad and shall not apply to the officials posted
ah road subseuucntlv."

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