The choice of banks throughout Pakistan is quite varied, with branches of many of the international banks available throughout the country of Pakistan as well as domestic banks providing business for the citizens of Pakistan. The Habib Bank Limited, for instance, is represented in more than 26 countries throughout all five continents whilst its presence in Pakistan consists of 1,425 branches spread through the whole of Pakistan. Meanwhile, the ABN AMRO Bank was granted a license, back in 1948, established as the first foreign bank in Pakistan where it now has branches in Karachi, Lahore, Islamabad, Rawalpindi, Multan and Faisalabad.
Meanwhile, the Soneri Bank Ltd was incorporated in 1991, with its first branch opening in Lahore, followed by the Karachi branch that opened the following year. The first bank in Pakistan to offer the benefits of e-banking is the Bank of Khyber, officially inaugurated according to the Act of NWFP assembly in 1991. The first commercial bank that operates in strict accordance to the principles of Islamic Shariah is the Meezan Bank which now has the largest network of branches spread throughout the whole country, originally starting life as an investment bank in 1997.
The Citibank in Pakistan, however, is considered to be one of the most respected banks throughout Pakistan, offering a wide range of financial products. Customer Services at Citibank offers excellent facilities, being available 24 hours a day, throughout each and every day of the year. Citibank, as a market leader, has become widely involved in various social initiatives that have been helping to develop the communities that it serves, such as providing education programs that benefit children from early childhood through each stage of the child’s development and on to higher level studies.
The Alfalah Bank, meanwhile, bases its philosophies on honesty and transparency, with the pursuit of excellence remaining a priority. Top of this bank’s list of priorities, however, is customer satisfaction and providing a quality service to its customers. Bank Alfalah Islamic Banking Division, part of the Abu Dhabi Group, now has 195 branches operating throughout 74 cities, with its registered office based in the city of Karachi. This bank, launched in 1997, is able to provide a wide range of products and services, with innovation and new technology at the forefront of its operations.
One of these is their Alfalah Musharak Homes product that is available for you to buy a house that has already been constructed; alternatively you can purchase a plot of land to construct your property – any of which is repayable up to 20 years. If you choose the home-improvement options you have up to seven years to repay the loan. Deposit accounts form some of the Alfalah Bank’s range of basic services, although their full range of services is quite diverse. Included in their basic services is the Alfalah current account, and various kinds of savings accounts such as the PLS Savings Account; the Royal Profit which requires a deposit of Rs. 0,000; and the Alfalah Kifayat which is a savings account for individuals only. The Alfalah Mahana Amdan is also a term deposit available to private individuals. It pays out on maturity which is three years, at an expected profit rate of 10% pa.
Another product, the Alfalah Education, provides a term deposit account with the option of a no-additional cost education insurance cover that covers the breadwinner in the event of death or injury that may prevent the breadwinner from working. Then there is the Alfalah Kamyab Karobar which offers a current account with three tiers of banking: silver, gold and platinum and a variety of associated free services associated with this account. These are just some of the many products available for customers who bank with the Alfalah Bank in Pakistan.