Descon Engineering wins best supplier award from Sabic – Kingdom of Saudi Arabia
Descon Engineering Limited (DEL) the leading enterprise in Pakistan’s large-scale engineering sector, has recently received an award for Best Supplier during the SABIC Annual Supplier Recognition Awards in Saudi Arabia. Descon is one of the few successful companies that have been recognized for their outstanding performance in 2020-21, against a competition of more than a hundred suppliers associated with SABIC from various sectors globally. Within the Engineering Category, DEL is one of the top 07 suppliers in the Engineering category of SABIC to have received this prestigious award.
During the annual ceremony, Descon was recognized for its outstanding performance and quality in Design Engineering Services. This is the 3rd year for Descon Engineering Ltd. of providing services to SABIC, one of the world’s largest producers of petro-chemicals, based in Saudi Arabia. The Honorable Leader of SABIC’s Department of Global Suppliers, Materials Management & Logistics Services, Abdul Rahman A. Al-Hussain, personally graced the occasion to present the awards.
Speaking on the occasion, Chief Executive Officer at Descon Engineering Ltd., Taimur Saeed stated, “Descon has always aimed to create excellence in its services, be it in engineering, construction, large infrastructure projects, industrial services or manufacturing. I would like to express my gratitude towards the honorable leadership at SABIC for this recognition for the hardworking team at DEL and look forward to continuing our relationship with SABIC in future.”
The Head of Design Engineering & Services Technology (DEST) at Descon, Kashif Malik commented, “It is a great honor for us to have worked with SABIC and receive recognition for our valuable services. Descon has extensive experience with multi-national projects and our entire team is strongly committed to go beyond our client’s expectations in quality and excellence. I would like to express my heartfelt gratitude to SABIC for their recognition, as it solidifies our commitment to continue delivering world-class engineering and design services. “
In line with SABIC’s strategy to engage and collaborate, it has honored its suppliers from different sectors for outstanding performance during 2020-2021, with special focus on the services delivered during the COVID-19 pandemic and their role in promoting local content in alignment with Saudi Vision 2030.
DEST is a multi-discipline business unit having core competencies in the design and engineering services stretching from Basic & Conceptual design, Front End Engineering Services (FEED) and Detailed Engineering. Since its inception, DEST has delivered complex projects in the sectors of Oil & Gas, Petrochemicals/Chemicals, Power & Energy and Industrial domains globally
Standard Chartered appoints Saadya Riaz as Head of Consumer Private, Business Banking
Standard Chartered Bank Pakistan Limited (SCBPL) announced the appointment of Saadya Riaz as Head of Consumer, Private and Business Banking (CPBB).
Saadya has been associated with Standard Chartered (SC) for 17 years. Prior to this appointment, she has held a number of key management positions with the Bank and for the past five years she has led Affluent Client Segments, at a global level based out of Singapore. Previously, she has worked in the Africa and Middle East Region (AME), as the Regional and Country Head of Segments, AME and UAE, and as Country Head Wealth Management, Priority, and International Banking for Pakistan. Saadya holds an MBA in Finance from the Institute of Business Administration, IBA-Karachi, and is also a Sustainability Champion’ at the Bank.
Rehan M. Shaikh, Chief Executive Officer, Standard Chartered Pakistan stated, “I am very pleased that Saadya is joining us to lead our next phase for CPBB business. Her deep insights of the market coupled with wealth of international experience will enable us meet evolving and fast-growing industry and client needs. Our focus on digitising our offerings and services continues and I am sure Saadya will accelerate and improve that further along with enriching value proposition for affluent segments.”
He further added, “She will closely work with key partners and stakeholders to strengthen our brand, grow key business units, and enhance our Bank’s contribution to key Government of Pakistan and State Bank of Pakistan agendas especially on Financial Inclusion front. We are really excited for this next phase of CPBB journey.”
Saadya’s appointment in the key leadership position within the Bank also reflects Bank’s commitment to advancing diversity within senior ranks to make the Bank a more innovative, productive and profitable entity.
Jazz and Infobip join forces
Jazz and Infobib have collaborated to introduce Pakistan’s foremost Communications Platform as a Service (CPaaS) in the local market, which will enable enterprises to interact with their customers across multiple digital channels. Jazz and Infobip are developing Pakistan’s largest localized cloud Omnichannel platform.
Economy will progress under new PM: Zahid Hussain
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance and Former Provincial Minister Mian Zahid Hussain on Friday said the historic decision of the Supreme Court has created a positive situation in the markets and a ray of hope for the common man.
The prospects of a new united opposition government led by Mian Shahbaz Sharif have raised strong hopes for an improvement in the economy and overall situation, he said.
Mian Zahid Hussain said that the stock market and the rupee have appreciated due to positive sentiments in the market.
Talking to the business community, the veteran business leader said that Imran Khan’s misguided economic policies and the political manoeuvres have plagued the economy and affected the GDP rapidly, which could fall far below four percent.
Important institutions should play their role in bringing down the political temperature to save the economy from further losses.
Mian Zahid Hussain further said that wrong economic policies, irresponsible spending, patronage of failed state institutions, rising industrial costs, inflation and the failure to introduce reforms in the tax system have accelerated the decline of the economy.
Pakistan has to repay $12 billion in loans this year but it lacks the resources to fulfill obligations.
According to official statistics, the growth rate was 5.6 percent last year. The recent 2.5 per cent hike in interest rates will further reduce GDP and exports.
The war between Russia and Ukraine is also playing a role in increasing inflation and the sharp rise in oil prices was increasing the oil import bill while the decline in crop production was creating a crisis that would cost billions of dollars.
The share of oil and gas in Pakistan’s import bill is 30% which is increasing the bill drastically. Inflation and the sharp rise in energy prices have led to the collapse of the purchasing power of the people, which has resulted in a steady decline in demand in the market and an impact on inflation.
Mian Zahid Hussain further said that if the IMF’s grievances were not addressed and the breach of promises was not eliminated and the loans were not restored by it, then the situation would be further aggravated as expensive loans would have to be taken from other sources.
The rupee continued to depreciate against the dollar. As the dollar becomes more expensive, so does the cost of production and exports. The cost of manufacturing goods is rising and the pre-existing inflation in the country is rising sharply.
Standard Chartered, Tpl Insurance offer customized, digital solutions
Standard Chartered Bank (Pakistan) Limited is a leading global bank which has partnered with TPL Insurance Limited (TPLI), the leading Insurtech in Pakistan. Using Standard Chartered Bank’s digitally integrated platform, the bank’s customers can now purchase TPLI’s tailored insurance solutions, including health and travel products, promising end-to-end convenience and transparency.
This resourceful alliance will create a one window solution catering to the customers’ evolving needs, including features like instant Policy issuance. This revolutionary solution promises to lodge instant claims through TPLI’s mobile app. It has disrupted the traditional concepts of insurance, to achieve growth, by digitally enabling TPLI’s business partners and customers.
The signing ceremony for this Memorandum of Understanding (MoU) was recently held at the Standard Chartered Head Office in Karachi. The event was chaired by the CEO of Standard Chartered Bank, Rehan Shaikh and the CEO of TPL insurance, Muhammad Aminuddin. Others representing the bank included Faheem Elahi, GM Affluent Segment, Kailash Kumar, Head of Wealth Management and Mohammad Ali, Head of Wealth Management Products. The guests representing TPL Insurance included Syed Ali Hassan Zaidi, Chief Strategy & Transformation Officer and Aurangzeb Javed Siddiqui, Head of Financial Institutions Group (FIG).
Speaking on the occasion, Rehan M. Shaikh, CEO, Standard Chartered Bank Pakistan said: “This alliance is yet another great milestone on our journey towards digitization and unmatched customer care, offering a complete eco-system of products and solutions to our clients. We are inspired to enrich our offerings through strategic engagements and create synergies with leading progressive enterprises. Today, we feel honoured to partner with a premium insurance provider, TPL Insurance to continue this momentum.”Muhammad Aminuddin, CEO, TPL Insurance expressed his commitment to nurture this new relationship with Standard Chartered Bank to protect and empower the consumers. He stated, “At TPL Insurance, we are singularly focused on digitizing the process of buying and servicing of insurance. We have a vision to exceed the expectations of the customers of Standard Chartered and other prestigious banks, who can access our
services through multiple platforms. Hence, we have deployed cutting edge technologies to provide seamless services through our first ever Insurance Mobile Application in Pakistan, backed by a 24/7 call-centre.”
TPLI offers all lines of general insurance, including Health and Travel, while providing both Conventional and Takaful (Islamic insurance) solutions, to match the needs of every retail segment, along with creating awareness about the advantages of reliable insurance services for the socio-economic wellbeing of the masses.
EBM Signs deal with Habibmetro for easy home-financing solutions for its employees
Pakistan’s leading FMCG company, English Biscuit Manufacturers, has collaborated with HabibMetro to help its employees realize their dreams of owning a house through a relatively affordable and simple repayment plan.
A Memorandum of Understanding (MOU) signing ceremony was held at the EBM head office. Zahid Iqbal, Director Commercial & HR, EBM, Kashif Ijaz Sheikh GM Finance, IT and Legal Affairs, EBM, and Khurram Shahzad Khan, Group Executive – Corporate and Transaction Banking Habib Metropolitan Bank Limited (Subsidiary of Habib Bank AG Zurich), signed the MOU.
According to the agreement, the leading finance bank HabibMetro will fund low-cost housing for EBM’s employees under the ‘Mera Pakistan Mera Ghar’ scheme by the federal government and State Bank of Pakistan. Additionally, EBM family will also be able to access House Financing Mortgage Facility across Pakistan at discounted rates with preferential terms and conditions through HabibMetro.
EBM’s representative said, “This partnership is primarily for the benefit of the employees. Being an employee-centric organization, we believe this initiative will help our employees achieve that ever-elusive dream of owning a home.”
“EBM’s collaboration is a testimony of our growing corporate partnership with HMB to help our employees get funds for low-cost housing. One of our key well-being agenda is financial empowerment and we hope that this initiative will go a long way into achieving the objective.”
Mr. Khurram Shahzad Khan also congratulated the leadership of EBM for taking an initiative that will directly help its employees.
“This is an auspicious occasion for both organizations. Employees of EBM will now be able to purchase their own homes thanks to HabibMetro Bank’s mortgage financing services. Together, we will help the government meet its goal of providing affordable housing options for everyone.”
Shell Pakistan announces grand winners of two SUVs
Shell Pakistan announced the two grand winners of SUVs under its recent promotion for Shell Helix customers. The winners, Qurban Ali and Shafi ullah Sheikh were presented SUVs at a ceremony held at Shell House.
Customers who treat their cars with 3 and 4 liter packs of Shell Helix HX-6, HX-7 and Helix ‘Ultra’ variants, at high street and selected retail stations, were offered an opportunity to win 2 SUVs and multiple fabulous prizes such as Bluetooth speaker, alloy rims and others through the promotion.
Shell Lubricants brings world-class technological insights to its products, offering you the best formulations for your vehicle. Shell Helix Fully Synthetic Motor Oils are made from natural gas and designed for ultimate engine performance.
Qurban Ali from Peshawar expressed his delight at winning his aspired automobile saying: “At the moment, I am in disbelief and surprise at my big win. Shell Helix has always kept my car running like a new machine. I am extremely grateful to Shell for this overwhelming gesture.”
The overjoyed winner Shafi ullah Sheikh from Karachi expressed, “Shell Pakistan has made my dream come true. My family cannot wait to have my SUV home. I have been a regular customer of Shell Helix which has always added tremendous value and quality to my drive. I would recommend others to give it a try, after which I assure you there will be no switching back.”
Zubair Shaikh, General Manager Lubricants at Shell Pakistan stated, “At Shell, our customers are our priority. We are happy to go the extra mile to reward our customers and have been designing promotions so that they win big. It is overwhelming to see their excitement. My heartiest congratulations to winners on their brand-new SUVs.”
HBL Q1 2022 Profit rises to Rs. 14.6 billion driven by strong business volumes
HBL declared a consolidated profit before tax of Rs. 14.6 billion for the first quarter of 2022 and a profit after tax of Rs. 8.6 billion, both higher than in the same period last year. The Q1’22 results include a one-time severance charge of Rs. 2.6 billion. Excluding the impact of this one-time charge, the Bank’s profit before tax is 18% more than in Q1’21. Along with the results, the Bank declared a dividend of Rs. 2.25 per share (22.5%).
Following a breakthrough performance in 2021, the Bank continued to build on its growth story, with its fortress balance sheet increasing by another 5% over December 2021 to Rs. 4.5 trillion. Beating historical trends, HBL was able to grow current accounts beyond the previous year-end peak to nearly Rs. 1.2 trillion, 37.4% of the total deposit base of Rs. 3.2 trillion. Advances grew by 4% in one quarter alone, well ahead of the market, to nearly Rs. 1.6 trillion, with broad-based growth across all segments. The Bank’s flagship Consumer business continued to break records with loans crossing Rs. 110 billion; agriculture lending achieved a new high of Rs. 41 billion. HBL Microfinance Bank, the largest microfinance provider of housing loans, posted double-digit growth with deposits crossing Rs. 100 billion and a loan portfolio of Rs. 65 billion.
Net interest income of the Bank increased by Rs. 3.8 billion to Rs. 36.3 billion in the first three months of 2022, driven by an exceptional growth of over Rs. 450 billion in average volumes. Fee income continued to break barriers, rising 24% to Rs. 7.3 billion; the fee engine is firing on all cylinders, with an outstanding performance from the Cards business, and double-digit growth in all key businesses. A spectacular Treasury performance resulted in income rising by 42%. Total revenue of the Bank thus increased by Rs. 6 billion over Q1’21 to Rs. 46.6 billion.
Administrative expenses (excluding severance charge of Rs. 2.6 billion) increased to Rs. 27.8 billion on the back of rising inflationary pressures, higher sales-driven costs and a continued investment in people and technology. Total provisions reduced by 36% to Rs. 1.2 billion; the infection ratio remains well-controlled at 5.2% with total coverage at over 100%. Demonstrating its commitment to giving back to the community, the endowment fund of the HBL Foundation was doubled to Rs. 100 million, while the annual contribution was raised by 50%, to 1.5% of post-tax profits.
Commenting on the Bank’s Q1’22 performance, Muhammad Aurangzeb, President & CEO – HBL said, “The Bank’s business volumes have set new benchmarks on the back of a very strong performance across all client segments and activity drivers. We continue to work diligently on building technological innovation, working with the Government of Pakistan on public-private partnerships, and most importantly serving our clients with excellence. HBL’s digital channels, being our strategic priority, processed an unprecedented Rs. 2.8 trillion from 109 million transactions, representing a YoY growth of 64%.”
HBL solidified its dominant position in all aspects of its Consumer business. HBL Cards remained the first choice for clients, registering a 58% growth in Credit Card spend over same period last year. HBL’s Debit Card remains the market leader with 6.1 million cards and a 21% market share. Spend volumes increased by 53% over Q1’21, with e-commerce volumes growing by 56%.
There has been a considerable focus on formal finance to Small Enterprises under HBL POS finance and SBP’s SAAF scheme with disbursements of Rs. 1.4 billion under each program. HBL maintained its leadership position in Supply Chain Financing, registering a growth of 20% over Dec’21 to reach Rs. 7.4 billion. HBL’s total SME funded advances in Q1’22 stood at Rs. 73 billion.
During the quarter, HBL Nisa opened 37,000 new accounts with deposits of over Rs. 6 billion. HBL has remained amongst the highest contributors to the RDA initiative with 20% of all RDA accounts; during Q1’22, we channeled an additional USD 100 million into the country. HBL Prestige branches were inaugurated in Multan and Faisalabad, taking the total presence to 27 lounges in 12 cities.
HBL was also designated as the “Champion Bank for Balochistan” by SBP to lead the banking industry and enhance agricultural credit and financial inclusion in the province. The Bank has been focusing on broadening its agricultural outreach in the underserved regions of the country.
HBL maintained its pole position in cash management, with throughput rising by 49% to nearly Rs. 2.6 trillion in Q1’22. HBL has become the first bank in Pakistan to allow asset management companies to process real-time redemption payments by successfully integrating the HBL Pay Business Banking platform with CDC (Central Depository Company).
HBL Investment Banking maintained its dominant position and closed a number of offshore and onshore transactions across sectors, including a USD 35 million offshore leveraged buyout facility in the Telecom and Internet space. The Bank also arranged syndicate financing for an automobile manufacturer and provided a comprehensive advisory for a Public-Private-Partnership project in the mining space. HBL made major headway in its real estate initiatives, developer finance and low-cost housing.
HBL continues to be a thought leader in the Environmental Social Governance (ESG) space and is the first Bank to announce a “net-zero” emissions policy, which we are targeting to achieve by 2030. The Bank is piloting the adoption of the Taxonomy Common Ground (CGT), which is a tool to facilitate direct flows of capital to green projects. HBL supported the Ministry of Climate Change in its globally recognized “Ten Billion Tree Tsunami” initiative for ecosystem restoration and initiated the plantation of 20,000 trees across the country. During the quarter, HBL disbursed over Rs. 7 billion for sustainable financing projects. Our diversity ratio continues to increase with 20% of our employees being women; our goal is to reach 22% by the end of this year. Recently, we opened our first women-only branch in Hyderabad.
Digital transactions continued exponential growth with HBL’s Mobile Banking and Internet Banking registering a growth of 97% in transaction value, to Rs. 417 billion in Q1’22. HBL Mobile app users crossed 2.6 million with a 61% growth in transaction volume to 26 million in Q1’22.
The Konnect account portfolio witnessed a growth of 33% reaching a total of 7.4 million accounts at the end of Q1’22. Total throughput registered a growth of 103%, from Rs. 166 billion in Q1’21 to Rs. 337 billion in Q1’22. Total collections at Konnect channels crossed Rs. 25 billion during Q1’22. Konnect Debit Cards portfolio reached 1.2 million at the end of Q1 2022. The Bank also launched an Islamic Banking mobile app empowering Islamic banking clients to meet their digital banking needs via a dedicated solution.
The Bank processed e-commerce transactions worth Rs. 8 billion recording a 57% growth in volumes compared to the same period last year. In addition, 30% growth was recorded in the number of merchants. HBL also launched a state-of-the-art mPOS solution to accept e-commerce payments from clients at their doorstep.
HBL ended 2021 being recognized as Best Bank in Pakistan from Euromoney Awards, and Pakistan’s Best Bank 2021 from the Pakistan Banking Awards. Continuing its winning streak in Q1’22, HBL won awards for Best Green Bond and Best Structured Finance Deal 2021 from The Asset Triple A Sustainable Capital Markets Country & Regional Awards 2021. Furthermore, HBL won eight awards in the 2021 Global Diversity and Inclusion Benchmark (GDIB) awards in the categories of Best Practice in Pakistan and Most Progressive in Pakistan.
American Express collaborates with i2c Inc to launch cards on the Amex network
i2c is a global provider of highly configurable payment and banking solutions, headquartered in Silicon Valley, with support offices & data centers in Pakistan
American Express and i2c Inc, a provider of digital payment and banking technology, today announced an expanded global, multi-product agreement that will enable fintechs and financial institutions around the world to develop and scale innovative payments solutions for consumers and businesses on the American Express global payments network. The agreement signals that the American Express network is ‘open for business’ with fintechs by creating a plug-and-play onboarding platform to bring innovative products to market at speed.
The Amex/i2c platform also gives fintechs access to American Express’ unique benefits including Amex Offers, the Resy dining program, and exclusive access to ticket pre-sales, as well as leading protections and fraud mitigation capabilities. With i2c and American Express, fintechs will get access to pre-certified partners, including bank issuing BIN sponsors, making it faster and simpler to bring their payment innovations to market.
“Our collaboration with i2c enables fintechs to tap into the American Express brand, global network, and industry-leading capabilities to offer their customers payments products that are backed by the strength of our global network,” said Mohammed Badi, President, Global Network Services at American Express. “This platform expands our reach to new customers and partners, makes our network even more vibrant, and will allow us to break into new and emerging areas.”
“The appeal of the American Express brand and benefits, paired with i2c’s plug-and-play platform, makes this program a perfect fit for visionary fintechs and financial institutions,” said Amir Wain, CEO of i2c Inc. “Together, we look forward to offering a unique global solution coupled with value-added payment features for end-users, matching the spirit and demand of financial innovators across the globe.”
American Express and i2c’s relationship first started in Latin America and the Caribbean and will now expand into North America and other countries over time. Among the recent fintech collaborations with American Express enabled by i2c are the Keo American Express Card (Mexico) and the Bancrédito Black American Express Card® (Puerto Rico). The Covalto American Express® Credit Card from Credijusto (Mexico) is coming soon.
MMBL partners with BaKhabar Kissan to foster a smart digital ecosystem for its growing Agri-customers across Pakistan
Pakistan’s largest digital bank, Mobilink Microfinance Bank Ltd (MMBL) has partnered with BaKhabar Kissan (BKK), a leading agri-tech enterprise that provides advisory services to small and medium farmers across the country.
Through this strategic alliance, smart digital financial and agri-tech solutions will be offered to MMBL’s growing base of agri-customers to help farmers identify, assess and monitor crop type, weather and land conditions, livestock, and other key agriculture and environment-related indicators to boost income and agricultural produce.
President & CEO MMBL, Ghazanfar Azzam, and CEO BKK, Khizer Alam Khan signed the agreement in Islamabad, with senior officials from both organizations in presence.
Under this partnership, MMBL will empower its Agri-borrowers using smart digital financial solutions to boost their agricultural output. This alliance will not only improve digital financial literacy rates among farmers but also, provide them access to round-the-clock advisory from Agri-experts on crop management with a focus on increasing yield and income.
Speaking about the partnership, Chief Finance & Digital Officer MMBL, Sardar Mohammad Abubakr said: “The use of optimized digital financial services in the agricultural sector of Pakistan is the need of the hour that has the potential of providing farmers with better access to agri-commerce, crop & livestock advisory, weather conditions, and disaster management. Through this partnership, MMBL is dedicated to strengthening the agri-tech landscape in Pakistan by digitally enabling our increasing agricultural farmers, comprising 63% of MMBL’s total customer base.”
Also speaking at the occasion, Fuad Imran Khan, Chief Strategy Officer BKK said: “BaKhabar Kissan is delighted to sign this agreement with MMBL. Farmers are at the front and center in all that we do at BaKhabar Kissan. This agreement will go a long way towards promoting financial inclusion in agriculture which in many ways is the most important, yet one of the most neglected sectors of our economy. Timely provision of credit to farmers, particularly smallholder farmers is an important ingredient in ensuring good farm productivity and quality. With MMBL, we will move the needle in agriculture productivity and contribute towards a more prosperous Pakistan.”
The initiative will be offered to MMBL’s agricultural borrowers through its expansive network across Pakistan to adopt better and improved agriculture methods and solutions to boost productivity and efficiency. MMBL through, Khushhal Kissaan Loan, Passbook Loan, Tractor Loan, Khushhal Kissaan Value Chain, and Livestock Loan is actively working towards improving farmers’ access to finance. With its partnership with BKK, the Bank is committed to bringing its borrowers agri-tech advisory services that will ensure improved profitability by decreasing both yield loss and input cost.
AACSB’s ‘Innovations That Inspire’ initiative recognises Suleman Dawood School of Business at LUMS
The Association to Advance Collegiate Schools of Business (AACSB), the world’s largest business education alliance, has featured the Suleman Dawood School of Business (SDSB) in its Innovations That Inspire member spotlight programme. SDSB is one of 24 business schools worldwide to receive this honourable recognition this year for its Women’s Scholarship Initiative.
The SDSB Women’s Scholarship is the first in the world to extend a 50-percent tuition waiver to any woman accepted to its graduate programs, advancing women’s access to higher education and creating transformative social impact.
Innovations That Inspire recognizes several AACSB member schools each year that are drivers of change demonstrating innovative ways to address challenges and opportunities that have a positive societal impact. This year, schools were featured based on their innovative approaches to enhancing diversity, equity, inclusion and belonging (DEIB), a key focus of the AACSB’s accreditation standards. The innovations ranged from education programs, research, community engagement or outreach, entrepreneurship, and leadership initiatives.
Dr. Arshad Ahmad, Vice-Chancellor of LUMS commented, “This recognition by AACSB is an honour and it reflects our institutional commitment to building a diverse and inclusive community at LUMS by actively developing strong women leaders. The SDSB scholarship empowers more women to gain access to quality education and make a critical difference in our society through their leadership. My sincere hope is that this paves the way for others to do the same in Pakistan”
The Women’s Scholarship is unique because it reflects an ethos that fostering women’s leadership through world-class business education is essential to Pakistan’s growth.
Dr. Alnoor Bhimani, Honorary Dean, SDSB, said, “Women are a force for innovation, growth, and positive social change. Their engagement in business at the highest level is essential. The 50% women’s scholarship at SDSB recognises that real success for an enterprise exists only when women have the possibility to lead.”
Increasingly, the Scholarship is making an impact at LUMS and beyond. More women are studying at SDSB in generalist MBA programmes, and specialist full-time and weekend master’s degrees in Accounting and Analytics, Finance, Healthcare Management and Innovation, Supply Chain and Retail Management, Public Policy, and Technology Management and Entrepreneurship. SDSB’s graduate programmes currently comprise between 20 and 75 percent women. This is a true testament to the impact that the School is having on closing the prevalent gender gap that exists in all sectors and is a major challenge across Pakistan.
Dr. Syed Kumail Abbas Rizvi, Associate Professor, SDSB and Director, Accreditation and Quality Enhancement at LUMS added, “SDSB’s women scholarship is a powerful and far-reaching gesture by the School’s and LUMS’ leadership to acknowledge the significant role the women of our country have been playing in advancing and improving the business sector and society, by and large.”
The SDSB joins a community of over 200 business schools that have been honoured through the Innovations That Inspire initiative over the last 7 years for their work on transforming business education and creating social impact. AACSB President and CEO Caryn Beck-Dudley praised the SDSB saying, “Progress toward more welcoming, inclusive spaces requires action, and Suleman Dawood School of Business demonstrates leadership in this important effort. Through collaborations—among business schools, businesses, and communities—we will create a strong global society and equip leaders for positive impact.”
A full overview of all 24 innovative initiatives from across the world can be found on AACSB’s website.