The MCB Bank President, Atif Aslam Bajwa, has said, "Despite present economic crisis and rising trade deficit, purchase of 20 percent share by Maybank has brought $ 900 million in the country and Maybank and other banking experts will also help MCB in improving banking practices and product lines including e-banking.
Addressing the executive committee of Multan Chamber of Commerce and Industry (MCCI) chaired by its president Asrar Ahmed Awan. About high mark-up on credit cards and recovery of loans, he said that the bank is looking into the matter. Recovery of loans is the responsibility of the bank, he added. He said that the bank is making efforts to provide quality services to its customers in this hour of crisis. Bajwa said that the bank would soon launch some new products. He said that Islamic banking was first initiated by MCB Bank in Pakistan later some new banks also started Islamic banking in the country.
He said, in last two years, Islamic baking has grown at fast pace as compared to conventional banking in the country. About financing the SME sector, he said, that the banking sector needs to do more to cater to the needs of SME financing.
About export refinance scheme, he said that the bank has to follow the State Bank directives in this regard. Welcoming the guests Bajwa said that MCB Bank is making a lot of investment in improving its services and technologies.
Referring to ATMs, he said that number of ATM is still small. It will be 10 times more in next few years, he added. Replying to a question about poor services of ATM, he said that frequent breakdown of power and telephones lines are the main cause of poor service. He said that MCB enjoys eight percent market share in Pakistan. The bank has planned to open 30 new branches in the country during current fiscal year and introducing modern banking in Pakistan. He said that MCB Bank had launched its mobile banking service "MCB Mobile" for its customers; the first of its kind for Pakistan. Atif Bajwa said that "MCB Mobile" is conceived and developed to offer customers unparalleled convenience and control over their funds by giving them 24 hours a day and 7 days a week access to their bank accounts using their mobile phones.
He further said that MCB Mobile is just a first step by the bank in ensuring the cost-effective delivery of financial services outside the banks traditional branch network. With the advent of the State Bank of Pakistan's Branchless Banking Guidelines, development of a number of new financial products and services is already underway at MCB.
These products will be designed not only increase MCB's potential customer reach, but will also serve to broaden access to financial services by reaching out to the under-banked in Pakistan. He said that, though MCB Mobile customers will not only be able to view their account balances and request mini-statements using mobile phones, but also to make host of payments in a quick, easy and secure way.
The payments menu currently offers payments of utility bills, top ups for all pre paid mobile connections, payment of post paid mobile bills, transfer of funds from their MCB Bank accounts to other MCB accounts. President of MCCI Asrar Ahmed Awan said that all the major banks concentrate their attention and investment on Corporate clients and they neglect/ignore the Small & Medium Enterprises, cottage industry, women entrepreneurs and new entrants in the business.
He said that it is a fact that no state can develop itself economically unless it would not develop its cottage as well as small industries. He said that procedure and documentation for new entrants in business and smaller enterprises must be made easy and special package must be introduced for the women entrepreneurs. He further said that Pakistan is an agricultural country but agro-based industry was being neglected by the banking sector. Only state owned banks were financing in agro-based industry but attitude and behaviour of the staff was bureaucratic. Now we are reading in newspapers that commercial banks were also financing in agriculture as per instructions of the government. It is a good news for the farmers.
Throwing light on the problems faced by the exporters, Asrar Ahmed Awan said banks were not co-operating with the exporters in recovery of amount from the importer, completion of documents and LCs requirements. Banks should stand with the exporters for the recovery of amount against the LCs. He also suggested that On-line banking, Demand draft, Telephonic Transfer charges must be reduced considerably. He said that the MCB ATMs need to carefully managed and extended to every bank through specified links as it has been observed that either the network remains closed or the machines are short of cash.
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