10-18-2004, 05:27 AM
Dear friends
Now a days in pakistan privitization commission (PC) is working fast during the stay of army govt.......I want to clear a picture of privitization of banks.......
As per the prudential regulations
The banks / DFIs will provide information about the appointment of
proposed President / Chief Executive and Director on the Board on proforma(Annexure VI-A) for obtaining necessary clearance. Besides, the candidates for the post of President / Chief Executive and directors of Board will be required to meet the Fit and Proper Test (FPT) laid down in Annexure VII-A."
Further code of corporate added..
only more than 50% or 75% will be non-executive directors.......
now Bolan banks has purchased by GUl ahmed group....
MCB byt Mansha....gp......
ABL by Ibrahim gp........
These all the shedule & leading pakistani banks that have been acquired by thses gps........it is amzing to note that thier main & core busniess was cloth / textiles..........how did the PC fit them as a director or president.ok if they hired any other person to act as a president then tell me.....what ab non-excutive directos the same condition of prudential apply to them .......& in the BOD of these banks mostly person are their relatives........or wife......etc......
DO u all agree they can rum a bank more better......with integrity.....
wat mansha did initially after paying the payment to PC Rs 22 bln Approx.....they made advances to diff parties .....after completin of documentation & recovered their payment wat ever they invested.......
it is not only conflict of interest.......but also a a transaction pf substance over form......
The same thing is done by ABL gp Ibrahim gp of companies .they has injected approx 8 bln equity & now a days they r fincniang to related parties approx 8 bln.......y.? how..? where the governacne has gone...where is SECP.........?
Do u think ibrahim leasing company..gp,..is dooing busniess of leasing only how did they acquire the bank when they dont have any experience of banking companies sa defined in banking companies ordinance.................
Regards
Kh. Ehrar Hasan
APA,ACMA,CIA,M.A(Eco),
CIMA(Inter)-IBP,Stage-I
Now a days in pakistan privitization commission (PC) is working fast during the stay of army govt.......I want to clear a picture of privitization of banks.......
As per the prudential regulations
The banks / DFIs will provide information about the appointment of
proposed President / Chief Executive and Director on the Board on proforma(Annexure VI-A) for obtaining necessary clearance. Besides, the candidates for the post of President / Chief Executive and directors of Board will be required to meet the Fit and Proper Test (FPT) laid down in Annexure VII-A."
Further code of corporate added..
only more than 50% or 75% will be non-executive directors.......
now Bolan banks has purchased by GUl ahmed group....
MCB byt Mansha....gp......
ABL by Ibrahim gp........
These all the shedule & leading pakistani banks that have been acquired by thses gps........it is amzing to note that thier main & core busniess was cloth / textiles..........how did the PC fit them as a director or president.ok if they hired any other person to act as a president then tell me.....what ab non-excutive directos the same condition of prudential apply to them .......& in the BOD of these banks mostly person are their relatives........or wife......etc......
DO u all agree they can rum a bank more better......with integrity.....
wat mansha did initially after paying the payment to PC Rs 22 bln Approx.....they made advances to diff parties .....after completin of documentation & recovered their payment wat ever they invested.......
it is not only conflict of interest.......but also a a transaction pf substance over form......
The same thing is done by ABL gp Ibrahim gp of companies .they has injected approx 8 bln equity & now a days they r fincniang to related parties approx 8 bln.......y.? how..? where the governacne has gone...where is SECP.........?
Do u think ibrahim leasing company..gp,..is dooing busniess of leasing only how did they acquire the bank when they dont have any experience of banking companies sa defined in banking companies ordinance.................
Regards
Kh. Ehrar Hasan
APA,ACMA,CIA,M.A(Eco),
CIMA(Inter)-IBP,Stage-I
