Standard Charterd Bank

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Standard Charterd Bank

History

Standard Chartered was formed in 1969 through a merger of two banks: TheStandard Bank of British South Africa, founded in 1863, and the Chartered Bank of

India, Australia and China, founded in 1853.

Both companies were keen to capitalise on the huge expansion of trade and to earn

the handsome profits to be made from financing the movement of goods between

Europe, Asia and Africa.

IntroductionStandard Chartered is the largest and fastest growing International Bank in Pakistan.The Bank has been operating in Pakistan since 1863 when it first established itsoperations in Karachi.Standard Chartered now employees over 4,000 people and has a branch network of 162branches across 41 cities in the country. Standard Chartereds core businesses inPakistan are in Consumer Banking and Wholesale Banking.Standard Chartered Pakistan is the first international bank to get an Islamic Bankinglicense and to open the first Islamic Banking branch in Pakistan and has been givencredit ratings of AAA/ A1+, the highest long-term rating assigned by PACRA to any privatesector commercial bank.

The Banks efforts have been recognised by independent and credible authorities; wewon "Best Foreign Commercial Bank in Pakistan" award by FinanceAsia; "BestInternational Trade Bank in Pakistan 2009" by Trade Finance Magazine, a publication ofEuromoney; "Best Foreign Exchange Provider" Award from the Global FinanceMagazine for 2010; Triple A awards for the 'Best Debt House in Pakistan' award by TheAsset; "Pakistan Deal of the Year 2009" award by the Islamic Finance News; 'Awardsfor Excellence', London 2009, by the Global Custodian; Consumers Choice Award forbeing the "Best Credit Card Provider in Pakistan" by the Consumer Association ofPakistan.

Vision

To be the preferred provider of Islamic financial products in the market.


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Mission

To create exceptional value for our clients, investors and staff; through marketleadership in providing innovative Shariah compliant products and solutions, and byadopting and living our core values.

Core Values

Creative

Creativity belongs to those of us who are excited by challenges and engage them withfresh thinking and an open mind. Creative thinkers are not limited by convention butallow their minds to soar beyond predictable solutions.

Responsive

How we respond to our customers will influence their belief in our commitment to

them. A proactive response is often unexpected and more effective for that. It clearlydemonstrates our willingness to go beyond the expected.

InternationalAs a member of the global village we view the world from the widest perspective. Weare all global citizens and believe the world is full of new opportunities and excitingpossibilities. We also deliver world-class products and services.

CourageousBeing courageous is about confidently doing what's right. Often the task may seeminsurmountable but with courage and tenacity the odds can be overcome. A trulycourageous act both inspires and builds character.

Trustworthy

Trust is the foundation of every successful relationship. We trust, because we believe inthe sincerity of the promise. Building trust can take forever. Losing trust takes onlymoments

Codes Of ethics

The revised standard governing the ethical behaviour of all Chartered Accountants

APES 110 Code of Ethics for Professional Accountants - is set to be issued by theAccounting Professional & Ethical Standards Board

The revised standard incorporates the corresponding international standard whichwas revised in July 2009.The Accounting Professional & Ethical Standards Board (APESB) will shortly issue therevised


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APES 110 Code of Ethics for Professional Accountants. This is expected to be released in theweek commencing 13 December 2010.The Institute understands the revised code will be effective from 1 July 2011, althoughsome provisions are expected to have a later effective date of 1 January 2012 principally those concerned with public interest entities and key audit partners.

The revision of the Australian code is intended to incorporate therevised internationalstandardissued by the International Ethics Standards Board for Accountants (IESBA) inJuly 2009.All members are subject to APES 110 Code of Ethics for Professional Accountants and theseproposed revisions will potentially impact every member. However the bulk of thesubstantive changes expected in the standard will affect assurance practitioners. Someof the expected key changes are outlined below.Inadvertent violations and multiple threats

Australian specific independence requirements in relation to inadvertent violations andmultiple threats to independence to be included within the assurance independenceprovisions of the code.

Public interest entities

The code to introduce the IESBAs concept of public interest entities (PIEs), which aredefined to include listed entities. It was stated in the Exposure Draft APES 10 Code ofEthics for Professional Accountants(03/10), that more restrictive independencerequirements apply to PIEs than apply in the existing code to listed entities.Key audit partner

The code to contain the IESBAs new defined term key audit partner to whom, notablyin relation to the audit of PIEs, the more restrictive independence requirements areunderstood to apply.

Members are encouraged to contact the Professional Standards Team on (02) 9290 5627oremailfor further explanation of the proposed standard.Further information on the new code will be provided to members in early 2011.
http://web.ifac.org/publications/international-ethics-standards-board-for-accountants/code-of-ethicshttp://web.ifac.org/publications/international-ethics-standards-board-for-accountants/code-of-ethicshttp://web.ifac.org/publications/international-ethics-standards-board-for-accountants/code-of-ethicshttp://web.ifac.org/publications/international-ethics-standards-board-for-accountants/code-of-ethicsmailto:[email protected]:[email protected]:[email protected]:[email protected]://web.ifac.org/publications/international-ethics-standards-board-for-accountants/code-of-ethicshttp://web.ifac.org/publications/international-ethics-standards-board-for-accountants/code-of-ethics


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Habib bank Limited

Company Introduction

Company Description:HBL is a Banking Company, which is engaged in Commercial &

Retail Banking and related services domestically and overseas.

History of the Company:HBL established operations in Pakistan in 1947 and moved its

head office to Karachi. Ourfirst international branch was established in Colombo, Sri

Lanka in 1951 and Habib Bank

Plaza was built in 1972 to commemorate the banks 25th Anniversary.HBL was the first commercial bank to be established in Pakistan in 1947. Over theyears, HBLhas grown its branch network and became the largest private sector bankwith over 1,400branches across the country and a customer base exceeding five million

relationships.With a presence in 25 countries, subsidiaries in Hong Kong and UK,affiliates in Nepal,Nigeria, Kenya and Kyrgyzstan and representative offices in Iran andChina, HBL is also thelargest domestic multinational.The Bank is expanding itspresence in principal international markets including UK, UAE,South and Central Asia,Africa and the Far East. Key areas of operations encompass productofferings andservices in Retail Banking. HBL has the largest Corporate Banking portfolio inPakistanwith an active Investment Banking arm. SME and Agriculture lending programsandbanking services are offered in urban and rural centers. In UK and GCC, HBLfocuses on tradefinance and remittances for South Asian Diaspora in addition to basicbanking facilities.With a domestic market share of over 40%, HBL was nationalized in1974 and it continued todominate the commercial banking sector with a major marketshare in inward foreignremittances (55%) and loans to small industries, traders andfarmers. Internationaloperations were expanded to include the USA, Singapore, Oman,Belgium, Seychelles andMaldives and the Netherlands.On December 29, 2003 Pakistan'sPrivatization Commission announced that theGovernment of Pakistan had formallygranted the Aga Khan Fund for EconomicDevelopment (AKFED) rights to 51% of theshareholding in HBL, against an investment of PKR 22.409 billion (USD 389 million). OnFebruary 26, 2004, management control washanded over to AKFED. The Board ofDirectors was reconstituted to have four AKFEDnominees, including the Chairman andthe President/CEO and three Government of Pakistan nominees.

Operational Structure:HBL is one of the largest commercial bank of Pakistan. Itaccounts for a substantial share (20%) of the total commercial banking market inPakistan with a network of 1,705 domestic branches; 55 overseas branches in 26countries spread over Europe, the Middle East, Far East, Asia, Africa and the UnitedStates; 3 HBL wholly owned Subsidiaries namely Habib Bank Financial Services (PVT)


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LTD. Karachi, Habib Finance International LTD (Hong Kong) and Habib FinanceAustralia Ltd. Sydney; 2 Joint Ventures namely Habib Nigeria Bank Ltd. (40%) andHimalayan Bank Ltd. (20%) and 2 representative offices in Iran and Egypt.

Vision

To be a quality financial service provider maintaining thehighest standards in banking practices.

Mission

To be a strong and stable financial institution offeringinnovative products and services while contributing towardsthe National economic and social development.

CODES of Ethics

It is the policy of Habib bank limited to conduct the business of the

bank in full compliance with the laws, rules and regulations of the

community in which it operates and to adhere to the highest ethical

standards. To these ends employees are expected and directed to

manage the business of the bank with:The highest ethical standards of integrity and candor inconformity with the code of ethics & business conduct.

Due diligence and proficiency in all business activities.Compliance of all legal and regulatory requirements.A manner that no disfavor will reflect on the bank, both on andoff the job.OBJECTIVES

Code of ethics and business conduct intends to deter wrongdoing and

act as a ready reference to all the employees in maintaining

compliance with the rules and regulations laid down by Habib bank

limited and would be a guide in directing the groups management to

ensure the observance by employees according to the stipulated

policies of Habib bank and promote the following objectives:


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Honest and ethical conduct, including ethical handling of actual

or apparent conflicts of interest between personal and

professional relationship.

Compliance with applicable governmental laws, rules andregulations.Promote internal reporting to designated persons of violations ofthe code.1

Accountability for non-adherence of the code.All employees are to conduct themselves in accordance with

highest standard of personal and professional integrity.2

OBSERVANCE OF RULES

Habib bank expects its employees to have integrity, honesty and thehighest moral

principles. The bank does not intend to attempt anycontrol over the private lives of its

people or to say how these lives areto be lived. The bank does not tolerate any conduct,

which might beconsidered as detrimental to the reputation of the bank. Everyemployee

is to abide by the rules and regulations of the bank andshould strictly observe, complywith and obey all the orders.APPLICATION OF CODE

The code applies to all staff members of habib bank limited in theirdecisions and

activities within the scope of employment, or whenrepresenting the bank in any

capacity. A copy of code of conduct isgiven to every employee for review. Each one of

them is required tosign a written confirmation that they have reviewed, understood

andagreed to adhere to the code.

MAINTAINING OFFICE DECORUMAll the employees are obligated to comply with the office worktimings and ensure that work commitments are not disrupted.


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Employees are required to maintain proper dress code (officeattire) and appear well

groomed & presentable all the time.Livery staff should be in their proper uniforms

during officehours.

Employees are to observe high standards of behavior/ attitudethat include positive

attitude/ body language, politeness &optimistic approach. Clumsy/ abnormal

behavior/ short-temperament should be avoided at all times.Employees are responsible for ensuring their own work area.

GIFTS AND INDUCEMENTS

Employees are not permitted to accept gifts, entertainment, or other

favors from existing or prospective customers of the bankOUTSIDE PRESSURE

Employee must refrain from bringing in outside pressure or influence toattain personal

gains within the organization; any such attempt will besubject to disciplinary action/

corrective guidance.

INSIDER TRADING

Employees are advised never to engage in insider trading in securities.It means that

employees are not to make deal, advice or arrange foranyone else to deal, in any

shares or other securities listed or trade ona recognized stock exchange. Employees

must also observe theinternal rules on personal trading in securities which the bank

puts inplace and which apply to all employees.

Money laundering:

The bank fully supports the international drive against serious crimeand is committed

to assisting the authorities to identify moneylaundering transactions and, where

appropriate to confiscate theproceeds of crime. The bank has issued guidelines to all

business unitsto enable them to follow the anti- money laundering policy.

ZERO TOLERANCE TO WORK PLACE VIOLENCE


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The bank is committed to creating and maintaining a working, learningand customer

care environment, which is free from violence. Mutualunderstanding and respect toward

all employees is an essentialelement for excellence in professionalism, existence of

safe andhealthy workplace, and maintenance of a corporate culture, whichserves the

needs of the community. The bank prohibits violence acts othreats of violence. Any

employee, who commits or threatens tocommit a violent act, is subject to disciplinary

action.The bank haszero tolerance for violence against any member of the workforce or

itsproperty.

DRUG- FREE WORK PLACE

Habib bank limited is committed to providing a safe work environmentand fostering the

well being and health of its employees. Thiscommitment is jeopardized when an

employee illegally uses drugs oralcohol on the job, come to work with these substances

present in hisbody, or possess, distribute, or sell drugs in the workplace.

EQUAL EMPLOYMENT OPPORTUNITY10

Habib bank limited is an equal opportunity employer in hiring andpromotion practices,

benefits and wages. The bank will not toleratediscrimination against any person on the

basis of race, religion, color,gender, age, citizenship, disability or any other basis

prohibited by lawin recruiting, hiring, placement, promotion, or any other condition

ofemployment.

NEPOTISMWhile there is no prohibition against the employment of close relatives,the integrity of the personnel process must be maintained.

Therefore, no one shall serve on a committee; make personalrecommendations or

decisions, influence any person making decisionssuch as appointment, retention,

transfer, advancement or promotionaffecting a close relative.

ACTS OF MISCONDUCTTheft, fraud, dishonesty with business or property of the bank orany other organization.Falsification of employment documents/ data to obtainemployment.


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Tampering the office records.Negligence or improper conduct leading to damage of bank-owned property or damage to the reputation ofthe bank.

Conviction of a criminal offence within or outside the office.Violation of safety or health rules.Smoking in prohibited areas.Spitting within banks premises.11

Unauthorized absence from duty.

Illegal strike or go slow tactics.Misuse of official stamps/ letterheads/ telephones/ computers &other items.The bank, at its sole discretion, shall determine what act or omissionconstitutes misconduct, breach of trust or negligence of duty.

RESPONSIBILITIES AFTER LEAVING THE BANK

Employee must not use their position to advance their prospects forfuture employment,

or allow their work to be influenced by plans for oroffers of, external employment which

would conflict or compromise inany way the best interests of the bank which would

conflict orcompromise in any way the best interests of the bank.

Employees professional duty while being employed by the bank is tomaintain

confidentiality; therefore, an employee must maintain thesame professionalism and

secrecy after leaving the employment of thebank and not disclose any official

information.

Documents

Standard Charterd Bank