Introduction
Maiwand bank, in the light of the
above with strong capital base and
sound management, is aimed to focus
on the financial needs of private
and public sector in Afghanistan.
The bank is well aware of the urgent
need for banking services and strongly
believes that this sector is crucial
for supporting the reconstruction
and developmental efforts of the
Afghanistan?s economy as a whole.
Maiwand Bank, promoted by
Afghan Nationals with strong Capital
Base of $ 15 Millions, is aimed
to provide innovative products and
services for the Afghanistan general
public. The Bank will function as
an international commercial banking
institution in Afghanistan and act
as a strong catalyst for economic
growth and business prosperity in
the economic reconstruction process
of Islamic Republic of Afghanistan.
It will create a true partnership
with the private and public sectors
in establishing a modern international
commercial bank to meet Afghanistan?s
financial services needs. Maiwand
Bank, with professional promoters
in the back ground supported by
well qualified and experienced international
banking professionals in the management,
will be established as one of the
strongest commercial bank of Afghanistan.
Maiwand Bank is committed to expand
its coverage of its targeted market
segments and offer its diversified
products more effectively and efficiently.
An international corresponding banking
relationship with a reputable multinational
commercial banks have been established
in order to facilitate international
payments and financial services.
Maiwand Bank is being managed by
a dedicated team of qualified, experienced
international bankers, experienced
in operating under sub continental
economic and social conditions.
Afghan talents will be utilized
to the maximum extent possible and
training programs will be established
in order to bring local employment
into the bank as it?s operations
grow.
Maiwand Bank is the fastest
emerging strong Commercial Bank
in Afghanistan, established & commenced
Banking Business from 1st January,
2009, promoted by Afghan Nationals
and managed by International Banking
professionals. Within the short
span of 12 months, the Bank has
a Branch Net Work of 18 branches
with US $ 67 Million Business level.
Another 7 branches will be opened
with in next 15 days. Further licenses
for opening of 12 more branches
are under process. Thus targeted
Net Work of branches by end of First
year of operations is 37. Also,
the Da Afghanistan Bank (the Central
Bank) has issued No Objection Certificate
for opening of an Overseas Branch
in Tajikistan. We expect to have
this branch operational in the very
near future.
Vision Statement
To emerge as one of the strongest
international commercial banking
institutions in Afghanistan with
state of art technology and innovative
products & services to act as a
strong catalyst for economic growth
and business prosperity in the economic
reconstruction process of Islamic
Republic of Afghanistan. By leveraging
the technological innovations, Maiwand
Bank will certainly create a true
partnership with the private and
public sectors in establishing a
modern international commercial
bank to meet Afghanistan’s financial
services needs in strict compliance
of laws and regulations by international
banking standards and best practices.
Mission Statement
To become one of the strongest
player in the market with professional
promoters in the back ground supported
by well qualified & experienced
international banking professionals
in the management and to raise the
capacity and maintain a team of
committed and motivated national
talent with high work ethics for
providing excellent customer satisfaction
in order to make value addition
to all the stake holders viz Share
holders, customers, staff and ultimately
to the society at large
Promoters and share holding pattern
| Name of Subscriber
|
Address
|
Number
of Equity Shares Taken
|
| Dr Fraidoon Noorzad |
Macroryan, No. 4, Apt. 22,
Bldg. No. 8, Kabul, Afghanistan
|
50% |
| Haji Naseer |
Apartment No.31 3 rd floor,
Block-128 Macroryan No.3 Kabul,
Afghanistan |
20% |
| Haji Abdul Qayoom Pardis
|
House NO.56,Shas-Darak,
Kabul, Afghanistan |
10% |
| Eng. Allauddin |
Shop No.187 Sarai-Sazada
Market Kabul, Afghanistan
|
10% |
| Haji Abdul Samad |
Kalai Fatullah,Faisnoor
building Kabul, Afghanistan
|
10% |
| Total number
of equity shares taken
|
100%
|
Strong Capital base
Maiwand Bank, with the strong
capital base of USD 15 million (increased
from $ 11 Million to $ 15 Million
by injecting fresh capital of $
4 million), contributed purely by
Afghan promoters, as against the
minimum capital requirement of USD
10, millions (equaling to AFS 500
million) as per the licensing regulations
of DAB. The Authorized Capital of
Maiwand Bank is set to USD 30 Million
as a provision to increase the capital
for future expansion of the Bank.
In addition to the above, In order
to strengthen the financial capabilities
of the bank to meet the future branch
as well as business expansion plans,
it is the Endeavour of the bank
to pump additional capital from
time to time. Accordingly the authorized
capital of the bank had been increased
to USD 30 Million from USD 15 Million
to facilitate for increasing the
Capital over a period of 4 years.
The projected capital injection
plan is as under.
| Year |
Description
|
Amount
of Issued Capital Amount in
USD |
Total
Cumulative Capital Amount in
USD |
| 2008 |
Initial start up capital |
USD 11,000,000 |
USD 11,000,000 |
| 2009 |
Injection of Capital USD |
4,000,000
|
USD 15,000,000 |
|
2010 |
Proposed Injection |
USD 5,000,000 |
USD 20,000,000 |
| 2011 |
Proposed Injection |
USD 5,000,000 |
USD 25,000,000 |
| 2012 |
Proposed Injection |
USD 5,000,000
|
USD 30,000,000 |
Board of Supervisors / Directors
The Board of Supervisors is elected
by the Share holders of the bank as
per the corporate governance to conduct
the banking business in a more prudent
manner to protect the interest and enhance
the share holder's value with proper
planning and controlling of the affairs
of the bank. The Board of Supervisors
for Maiwand Bank is as under.
| Name of the Directors |
Position |
Brief
Profile |
Remarks |
| Dr. Fraidoon Noorzad |
Member of Board of Supervisors |
The founder promoter of
the bank with major share holding
(Share holder's Representative)
|
Duly approved by Da Afghanistan
Bank |
| Mr. Mohomed Ismail
|
Chairman and Managing Director,
Qualified and experienced Banker
(not from the share holders)
|
Duly approved by Da Afghanistan
Bank |
|
| Dr. Ferozuddin Feroz |
Director Member of the Board |
Reputed citizen of Afghanistan,
held various key positions like
Dy. Minister and CEO of an Afghanistan
NGO (not from the share holders)
|
Duly approved by Da Afghanistan
Bank |
| Eng Allauddin
|
Member (Share Holder’s Representation) |
Eng Allauddin
had been elected by the share
holders of the bank during AGM
of shareholders held on 14.05.2011
as a Share Holder’s representative
and inducted to the Board of
Supervisors to hold the above
position in the Board of Supervisors
for supervising the affairs
of the bank in strict compliance
of the Banking laws & regulations
of Da Afghanistan Bank. |
|
| Mr. Muslimul Haq
|
– Chairman & Managing Director |
Mr Muslimul Haq, is a qualified
and professional banker with more than 40 years
of international banking experience. Mr Muslimul
Haq held various key positions in his long banking
career as CEO for Habib Bank, Kabul from 2003
to 2005 and associated with First Micro Finance
Bank, Kabul as CEO from 2005 to 2009 and recently
retired on his superannuation from First Micro
Finance Bank. |
|
2.4 Management Team
The Management Team of Maiwand Bank
comprises of qualified and experienced
banking professionals from the neighboring
countries, with specific focus in the
relevant areas of banking, who will
take the responsibility of execution
and management of the banking activities
in strict compliance of the Banking
and other laws in providing the guidance
to the Board of Supervisors in the right
direction towards the Vision and Mission
of the Bank.
| Name of the Executive |
Position |
Brief
Profile |
Remarks |
| Mr. Alok Kumar Aggarwal |
President & CEO |
Mr. Alok Kumar Aggarwal
is a qualified and experienced
banker which rich International
Banking Experience. |
Duly approved by Da Afghanistan
Bank |
| Mr. Asadullahkhan Killedar |
Chief Credit Officer |
Qualified and experienced
Banker with over 32 years of
banking experience |
Duly approved by Da Afghanistan
Bank |
| Mr. Swaminathan Iyer |
Chief Operations Officer |
Qualified and experienced
Banker with over 33 years of
banking experience |
Duly approved by Da Afghanistan
Bank |
| Mr. Ashutosh Mishra |
Chief Risk Officer |
Qualified and experienced
Banker with over 25 years of
banking experience |
Duly approved by Da Afghanistan
Bank |
| Mrs.Shakiba Hafizi |
Dy CEO |
Experience in Banking Operations |
2.5 Audit Department of Bank
The bank had a full-fledged internal
AUDIT system to ensure the compliance
of the policies of the bank as well
as the Banking laws of Afghanistan with
international Audit standards.
| Name of the Executive |
Position |
Brief
Profile |
Remarks |
| Mr. Muhammad Abdul Basit
(ACA, CIA, CFC, APA) |
Chief Internal Auditor |
well qualified and experienced
in banking audits. He has more
than 7 years audit and assurance
experience in Pakistan |
Duly approved by Da Afghanistan
Bank |
| Mr Mohammad Azhand Naim
Kabeer B A |
AML-Compliance Officer |
Qualified Afghan National,
who had been trained |
Duly approved by Da Afghanistan
Bank |
External Auditors
M/S KPMB Afghanistan Ltd., an associate
unit under KPMG International, who as
an approved panel auditor by Da Afghanistan
Bank (Central Bank) is our External
Auditors. KPMG, with a team of qualified
and experienced auditors, is the official
external auditor to Da Afghanistan Bank
and majority of the Commercial Banks
in Afghanistan.
Strong Capital base
Maiwand Bank, with the strong capital
base of USD 15 million (increased
from $ 11 Million to $ 15 Million by
injecting fresh capital of $ 4 million),
contributed purely by Afghan promoters,
as against the minimum capital requirement
of USD 10, millions (equaling to AFS
500 million) as per the licensing regulations
of DAB. The Authorized Capital of Maiwand
Bank is set to USD 30 Million as a provision
to increase the capital for future expansion
of the Bank.
Banking Industry scenario
Since the installation of Democratic
Government in 2001, the banking industry
has started growing day by day under
the controlling regulations of Da Afghanistan
Bank (central Bank) with the support
of various international monetary agencies
and expatriates. Currently, there are
about 2 State owned Banks, 7 Foreign
Bank Branches and 7 local new private
Banking institutions established in
Afghanistan.
Products
& Services
- Deposits
- Loans & Advances
- Trade Finance
- Remittances Foreign as well
as Inland
- Multi Currency Transactions
in Afghani, US $, Euro, GBP & PKR
- ATM, Debit Card & POS services
- Internet Banking
- SMS / Mobile Banking
- Islamic Banking on Profit Sharing
basis
Maiwand Bank,
fully equipped with the latest art
of technology in a secured environment,
will definitely differentiate itself,
as a newly emerging strong bank, from
the competitors by offering diversified
products lines, excellent customer service,
student loan programs, Sharia compliant
products, and other services with accessibility
to the rural population, through a transparent,
sound and quality management. Products
of the bank are widely divided basically
into three kinds, Asset products, Liability
products and service products.
Founding Principles
- Sharing social responsibility
in reconstruction of our Great Nation
which suffered a two decade long
internal conflict & external wars.
- To transform the belief and
remove ignorance about banking from
the Society.
- To encourage the habit of Savings.
- To help the needy with financial
support.
- To serve the customers with
sense of Service and Dedication.
- To spread the Banking & Financial
services across all the provinces
of Afghanistan.
- To focus on development of under
privileged segments of economy.
Our Business Principles and operational
ethics
- We invest in our clients and
with our clients.
- We treat our clients as our
business partners.
- We provide the best training
to our employees.
- Never speculate with client?s
money and trust
- Always fulfill our promises.
- We never promise what we can
not deliver.
- We respect money and money respects
in turn to those who respects money.
- We always remember our obligation
to shareholders and never forget
our moral responsibility to the
people who put trust on us.
- We always thrive to enhance
the value for all the stake holders.
- We never discriminate regardless
of skin color, language, religious
and gender.
- We are very scrupulous in selection
of our clients.
- We must know sources of their
income and be sure about legality
of their business.
- We are strict in following procedure
and compliance of the laws.
Special features-USP
- Strong Capital Base with dedicated
international management team.
- Any where any time banking facilities
through Centralized Banking Services.
- Fully techno savvy with the
latest software and secured environment.
- Innovative product line driven
with technological innovations.
- Successful product delivery
with latest delivery channels viz
ATM, Net Banking and mobile banking
etc.
- Strong commitment towards the
society to provide the support for
the Governmental activities of collection
of Taxes and other utility payments.
Business Highlights as at 31.12.2009
Within the short span of 12 months
in operation, Maiwand Bank was able
to set solid standards in the banking
industry with sustainable growth and
measurable parameters. Maiwand Bank
largely concentrating and targeting
on Business segment with an aim to capture
the current account clients by catering
to their special needs of settlement
of payment for their Export and Import
businesses.
- Total business of the bank stands
at USD 67.49 millions
- Deposits of the Bank stands
at USD 38.23 millions
- Advances of the Bank stands
at USD 29.29 millions
- No of customers around 33,000
- Current account deposits constitutes
74% of the total deposits
Techno savvy Bank
The Maiwand Bank offers Any Where
Banking through Core Banking Solutions.
The Bank also has Internet Banking and
also has plans to introduce SMS / Mobile
Banking services for Corporate as well
as individuals in the near future; hence,
providing 24 hour, 365 days banking
right from the PC / mobile of the user,
which will offer world class banking
services and account access anytime,
anywhere, complete details of transactions,
and statement of account, online information
of deposits, loans overdraft account
etc.
Risk Management
The bank implemented all the tools
for the risk management to mitigate
the operational risk, credit risk, market
risk and exchange risk. Bank had established
the Asset Liability Management Committee
to assess and measure the risk parameters
of the banking operations by proper
liquidity and fund management. The bank
had also established various other committees
viz Credit Committee, Audit Committee,
Budget Committee for proper monitoring
and controlling the various activities
of the bank in a more prudent manner.
| Name of the Executive |
Position |
Brief
Profile |
Remarks |
| Mr. Ashutosh Mishra |
Chief Risk Officer |
Qualified and experienced
senior BFSI professional |
Duly approved by Da Afghanistan
Bank |
Banking software (CBS)
The Maiwand Bank offers Any Where
Banking through Core Banking Solution.
The Bank also introduce the ATM /
POS, Internet Banking / SMS Banking
services / call center services
for Corporate clients as well as individuals
providing 24 hours, 365 days banking
right from the PC / mobile of the user,
which will offer world class banking
facilities like anytime, anywhere access
to account, complete details of transactions,
and statement of account, online information
of deposits, loans overdraft account
etc.
IT Department
Maiwand Bank established an independent
IT department to cater to all the IT
needs of the Bank viz networking and
connectivity with strong IT professionals.
The data of the bank is maintained at
a central location with the connectivity
to all the branches providing anywhere,
anytime banking facilities to the clients
in a more secured manner.
SWIFT Facility (MWBKAFKA)
Maiwand became the member of SWIFT
within a short span of a month from
the date of its operations. Maiwand
Bank, with the SWIFT facility, is able
to provide international remittance
facilities. Maiwand Bank has been able
to exchange the SWIFT exchange keys
with international banks for the purpose
of establishing Letters of Credit and
other related products. We have built
in AML compliance filtering software
installed in our SWIFT connectivity
to ensure the strict compliance of AML.
Independent Functional Departments
- Operations
- Credit
- Internal Audit
- Finance
- IT
- AML - KYC compliance
- HR
- Admin and Logistics
- SWIFT Remittances
- Marketing & Advertisement
- Islamic Banking
- Western Union
- ATM / POS
Western Union
Maiwand Bank became the member of
the Western Union agent community to
provide Western Union branded money
transfer services by fastest and safest
manner.
Maiwand Bank, with a clear
Vision and Mission to become one of
the strongest commercial bank, is planning
to expand it's wings by spreading the
network allover the Afghanistan in a
phased manner. It is also committed
to provide all the latest techno savvy
products by leveraging the latest technological
innovations to meet the present day
challenges.
Islamic Banking:
Maiwand bank is the first Afghan
Bank to have expressed interest in Islamic
Banking and had submitted its application
to the regulatory authorities for permission
to provide the Islamic financial services
and products under Shariah principles.
On obtaining the permission, the bank
will provide the Islamic financial products
through its branch net work.
Ladies Banking:
Maiwand Bank recognized the need
to provide special products and services
of banking to ladies community through
a special branch for ladies. Maiwand
bank is the first bank in the country
to introduce Ladies Banking a dedicated
banking branch only for ladies in Shar-e-Naw,
the commercial place of Kabul and the
most preferred and secured location
for shopping etc.
Maiwand Bank by opening special branch
for ladies, intend to set milestone
for the local banking industry. The
bank is looking enthusiastically to
provide banking services to the ladies
by professional and well trained female
banking staff at the Bank's Ladies Branch.
This ladies branch is fully equipped
to serve ladies and attend to their
banking needs quickly and efficiently
in complete privacy, confidentiality
and convenience that they really deserve.
This special branch provides an exclusive
banking to ladies by dedicated ladies
staff.
Superior Service:
Maiwand Bank will differentiate itself
from the competitors with the offering
of diversified products and qualitative
service to the general public of Afghanistan.
In addition, Maiwand Bank offers diverse
product lines, excellent customer service,
and accessibility to the women community
through special ladies branch.
Master Card :
Maiwand Bank obtained principle membership
from Master Card international. The
integration process with Master Card
is in it’s final stage for SIT and UAT,
and planning to launch Master Card Debit
cards shortly.
Location of Head Office
Maiwand bank headquarters is strategically
located at Turabaz khan Square, Share-e-naw,
Kabul, Afghanistan, the most commercial
part of Kabul, the capital city of Afghanistan,.
This provides a central location accessible
from different parts of Kabul. And as
per the Vision and Mission statement
of the Bank, it is planning to open
in most of the commercial areas of Kabul
along with in all provincial capitals
of the country to provide the banking
services across the country.
