ACTIVITIES OF THE BANK

Its activities include act as a manager, on a trustee basis of a series of Modaraba investments funds and private portfolio investments accounts in accordance with Islamic laws and principles particularly with regard to the prohibition of receiving or paying interest.

SOUND MANAGEMENT
Its sources are largely due to the management style and polices of senior manager. It sees Modaraba syndications as a major growth area and there are possibilities that the bank will arrange such syndications for corporations and companies in these countries especially in the high growth economics of South East Asia in particular Malaysia and Indonesia. There have been suggestions that this type of specialist facility could be intended to other regions such as the Middle East, North Africa and the Muslims Central Asia Republics where commodity export and import finance is in big demand.

SYSTEMS DEVELOPMENT
Faysal bank ltd. (FBL) provides a unique mix of services to its customers. That is why off the shelf software packages and third party vendours are not successful in providing a complete range of software packages to fully meet the operational needs of its wholesale and retail banking operations, customers services support and sophisticated MIS. The Bank has succeeded in completing in house development of software for meeting all of its requirements. This results in interlining all the operational units of the Bank to allow fast exchanges of data and information.

PURPOSE OF OPERATIONS IN PAKISTAN

The following are the main objectives of the establishments of FBL in Pakistan. 1. 2. 3. To extend Islamic financial services to the people of Pakistan. To enhance trading relations between Islamic countries. To support market opening in Pakistan by diversion and mobilization of surplus funds available from within and from other Islamic nations.

SERVICES OFFERED
FBL offers a wide range of banking services to public and private sector corporations, partnerships, individuals, professional, and expatriate Pakistan working abroad . These services include:

Deposits
Current Accounts Profit and loss sharing deposit Saving account Call/notice/term deposit accounts

Foreign Currency
Current and saving accounts Call/notice/term deposit accounts.

Documentary Credits/Guarantees
Import letter of credit Negotiation and collection of export documents Issuance of letters of guarantee Performance bonds, etc.

Financing Short Term

Modarba (Financing resale of goods) Working capital

Short/medium term
Syndicated financing

Medium/long term Modaraba Moshakara Ijara

Other Services
Remittances Demand drafts, pay orders, telegraphic and mail transfers. Foreign exchange bearer certificate NIT units. Foreign exchange and travelers cheques.

SOURCES OF FUNDS

The banks main sources of funds are: a. b. Demand deposits (current accounts balances) Investment deposits (funds under management) Within theses two basic categories, the bank is able to offer differently structured accounts to modaraba etc. provide a range of deposit series such as current, saving, call term,

SHARIAS IMPLEMENTATION
Bank continues to meet the liquidity requirements by making investments in Shariaa compatible instruments. Steps have been taken to bring operations of the bank in greater conformity with Shariaa operations are under review to evaluate their compatibility with the shariaa and to refine them in consolation with Maulana Mohammad Taqi Usmani, Deputy Chairman, Islamic Fiqah Academy (OIC