JS Bank AR 1 copy

232 Pages·2016·2.28 MB·English

Mr. Jahangir Siddiqui | Chairman Mr. Mazharul Haq Siddiqui | Director
Mr. Jahangir Siddiqui is one of Pakistan's leading Mr. Mazharul Haq Siddiqui is a Non- Executive Director and
entrepreneurs. He established JS Group in 1970 and grew it also a member of Human Resource & Remuneration
to be one of Pakistan's largest conglomerates. He retired as Committee. He retired from the Pakistan Civil Service after a
CEO of JS Group in 1999 and has since advised and chaired distinguished career as a civil servant and educationist. He
the boards of some key group companies. While he was has held many senior positions with the Government of
operationally leading JS Group, he was responsible for Pakistan and in the corporate sector, including Chairman of
establishing joint ventures with leading global firms Hum Network Limited and National Insurance Corporation
including in investment banking with Bear Stearns & Co. Inc. Limited.
and IFC, in asset management with Invesco plc and IFC, in
health insurance with Allianz AG and in Islamic banking Mr. Siddiqui joined the Income Tax Department in 1957
with Dubai Bank PJSC. through the Central Superior Services competitive
examination and served in various capacities including as
He has been appointed by the Government of Pakistan as a the Commissioner of Income Tax. He served the Provincial
member of the boards of a number of Government bodies Government of Sindh as Secretary Education, Finance and
including the Privatization Commission, Economic Advisory Services and General Administration Departments. He has
Board and the Exchange Reforms Committee. As a member served the Federal Government as Secretary Establishment,
of the Exchange Reforms Committee he was crucial in Education, Management Services, Economic Affairs &
developing the plan through which Pakistan’s capital Statistics and Youth Affairs Departments.
markets were opened up to foreign investors in the early
1990s. Mr. Siddiqui was Vice Chancellor of Sindh University for
three terms of four years each. In recognition of his services
Mr. Siddiqui served as President of the Karachi Stock to education, administration and management he was
Exchange for two terms. During his terms he was able to awarded ‘Sitara-i-Imtiaz’ by the President of Pakistan in 2005.
introduce key initiatives including the establishment of the
Central Depository Company of Pakistan to make securities He holds a Master’s Degree in Defense & Strategic Studies
settlements scrip-less and the modernization of the from Quaid-e-Azam University, Islamabad.
exchange’s trading systems.
Mr. Ashraf Nawabi | Director
He dedicates a significant amount of time to philanthropic
activities. In addition to his own substantial charitable grant
Mr. Ashraf Nawabi is an Independent Director and also the
making through his family foundations, he works with a
member of Risk Management Committee of the Bank.
number of other philanthropic organizations whose causes
he supports. As Chairman of the Board of Trustees of the
Mr. Ashraf Nawabi is a senior banker with over 40 years of
Endowment Fund Trust for Preservation of the Heritage of
experience. He was a founder of Prime Commercial Bank
Sindh, he is responsible for the preservation of heritage and
Limited and remained on its Board of Directors for three
culture in Sindh province.
years. Since 1990, he has been the Advisor to Emirates NBD
Bank PJSC which is the largest bank in the UAE. Since 1989,
He holds a Bachelor’s Degree in Commerce from the
he has also been one of the major shareholders and
University of Sindh.
Director of Alliance Insurance Co. PSC in the UAE. For five
years he was a Director of Union National Bank PJSC, the Mr. Adil Matcheswala | Director Mr. G.M. Sikander | Director Bank of Dubai PJSC. On his return to Pakistan in 1991, he
fourth largest bank in the UAE. Prior to joining Emirates was a member of the core team which established Prime
NBD Bank, he was the Chief Executive Officer of United Mr. Adil Matcheswala is a Non-Executive Director and also Mr. G.M Sikander is an Independent Director. He has been Commercial Bank Limited. He served Prime Bank in the
Bank Limited – Middle East for seven years. a member of the Audit and Risk Management a career civil servant having served the Government of capacity of Senior Executive Vice President and
Committees. He is the CEO and founding Director of Pakistan in various capacities for 39 years. He retired as continued with Prime Bank through its acquisition by and
Mr. Nawabi is also a Director and Chief Executive Officer Speed (Private) Limited, a company incorporated in Federal Secretary of the Housing and Works Division. merger into ABN Amro Bank in Pakistan and the
of First Jamia Services Limited in Lahore and L & N Pakistan that is a large retailer and distributor for a subsequent acquisition of ABN Amro Bank in Pakistan by
(Private) Limited in Karachi since 1991 and 2006 number of leading international brands such as Nike, Tag He has served as Assistant Commissioner and Deputy Royal Bank of Scotland. He joined JS Bank in 2012.
respectively. Both institutions provide education related Heuer and Timex. Commissioner in various districts of Punjab and
services. contributed significantly towards social sector He received his BBA (Hons) and MBA from Karachi
Mr. Matcheswala started his professional career in the development. While serving as Deputy Commissioner of University.
He graduated from the University of Karachi. financial services industry in 1992 and until 2002 was the Kasur he single handedly established a public school on
Head of the Equity Sales Division of Jahangir Siddiqui & self-help basis which has now become a Degree College
Co. Ltd. and Bear Stearns Jahangir Siddiqui Limited. with almost 5,000 students.
Mr. Shahab Anwar Khawaja | Director
He has previously served as the Chairman of the Board Mr. Sikander has previously served as Secretary to the
Mr. Shahab Anwar Khawaja is an Independent Director
and Chairman of the Audit Committee of JS Global Government of the Punjab and NWFP provinces and
and also the Chairman of the Audit Committee. Mr.
Capital Ltd. as well as a Director of the BSJS Balanced Fund headed the departments of Services, Establishment,
Khawaja was a senior civil servant and served the
Ltd. Information & Tourism, Housing & Physical Planning,
Government of Pakistan in various capacities for 36 years.
Baitul Maal, Social Security and Cooperatives. He also
He retired as Federal Secretary to Government of
He graduated from Brown University with an A.B. in served as Principal Secretary to five Chief Ministers in the
Pakistan.
Economics. Punjab for a record period of almost 10 years.
As Secretary Privatization, he supervised the Privatization
After retirement, he serves as a Director and Chairman of
Ministry and Commission. He also served as Secretary of Mr. Kalim-ur-Rahman | Director
the Audit Committee on the Board of Directors of
the Privatization Board and was responsible for
National Fertilizer Marketing Limited. He is also a Trustee
transacting the entire privatization program of public Mr. Kalim-ur-Rahman was formerly President & CEO of JS
of the Hamza Foundation in Lahore which is a foundation
sector enterprises in the country. Earlier he served as Bank Limited. He is a Non-Executive Director and also a
dedicated to supporting and educating deaf and mute
Secretary Ministry of Industries and Production for three member of the Board Risk Management Committee. He
students. He is also a Life Trustee of the Marafi Foundation
years. He has served as CEO of the Competitiveness holds the Director’s certification from the Pakistan
in Kuwait which is engaged in the development of public
Support Fund – a JV of Government of Pakistan & USAID. Institute of Corporate Governance as well as the Institute
health and education sectors in Gilgit Baltistan.
of Directors in London.
As CEO of Small and Medium Enterprises Development
Mr. Sikander received his M.A. in Political Science from
Authority (SMEDA), he managed all Federal Government Mr. Rahman is a seasoned banker with 50 years of
Punjab University and completed a Diploma in
support initiatives to this very large sector of the experience in both international and domestic banking.
Development Administration from the University of
economy. During these years a number of developments He has served in various leading international and
Birmingham. He has also done the advanced National
were achieved to help SME growth especially for higher domestic banks, including Grindlays Bank PLC in the UK
Management Course from the then PASC Lahore and a
value addition through the acquisition of improved and Pakistan, Middle East Bank Ltd. in the UAE and
special course in Development Administration from NIPA
technology. Pakistan as General Manager of South Asia, Emirates
Lahore for DMG officers.
Investment Bank in the UAE as General Manager and
Mr. Khawaja’s last engagement was in the private sector Askari Commercial Bank in Pakistan as President and CEO.
when he headed Fertilizer Manufactures of Pakistan Mr. Khalid Imran | President and CEO
Advisory Council as its Executive Director from June 2012 He did his Senior Cambridge from Burn Hall School and
to June 2015. B.Sc. (Hons) from Government College, Lahore. He had a Mr. Khalid Imran is the President and CEO of JS Bank
first class academic career throughout, and his name is Limited. He has over 40 years of diversified banking
He holds a Master of Science degree in Chemistry and inscribed on the College Roll of Honor. He is a Fellow of experience in Pakistani and foreign banks. He started his
holds Post Graduate Diploma in Development the Institute of Bankers in Pakistan as well as the Institute career with BCCI, where he worked for 16 years in
Administration from Birmingham University, UK. of Chartered Secretaries and Managers, Pakistan. different capacities. He was Joint General Manager of
BCCI Middle East Region. He then worked for Commercial
Mr. Jahangir Siddiqui | Chairman Mr. Mazharul Haq Siddiqui | Director
Mr. Jahangir Siddiqui is one of Pakistan's leading Mr. Mazharul Haq Siddiqui is a Non- Executive Director and
entrepreneurs. He established JS Group in 1970 and grew it also a member of Human Resource & Remuneration
to be one of Pakistan's largest conglomerates. He retired as Committee. He retired from the Pakistan Civil Service after a
CEO of JS Group in 1999 and has since advised and chaired distinguished career as a civil servant and educationist. He
the boards of some key group companies. While he was has held many senior positions with the Government of
operationally leading JS Group, he was responsible for Pakistan and in the corporate sector, including Chairman of
establishing joint ventures with leading global firms Hum Network Limited and National Insurance Corporation
including in investment banking with Bear Stearns & Co. Inc. Limited.
and IFC, in asset management with Invesco plc and IFC, in
health insurance with Allianz AG and in Islamic banking Mr. Siddiqui joined the Income Tax Department in 1957
with Dubai Bank PJSC. through the Central Superior Services competitive
examination and served in various capacities including as
He has been appointed by the Government of Pakistan as a the Commissioner of Income Tax. He served the Provincial
member of the boards of a number of Government bodies Government of Sindh as Secretary Education, Finance and
including the Privatization Commission, Economic Advisory Services and General Administration Departments. He has
Board and the Exchange Reforms Committee. As a member served the Federal Government as Secretary Establishment,
of the Exchange Reforms Committee he was crucial in Education, Management Services, Economic Affairs &
developing the plan through which Pakistan’s capital Statistics and Youth Affairs Departments.
markets were opened up to foreign investors in the early
1990s. Mr. Siddiqui was Vice Chancellor of Sindh University for
three terms of four years each. In recognition of his services
Mr. Siddiqui served as President of the Karachi Stock to education, administration and management he was
Exchange for two terms. During his terms he was able to awarded ‘Sitara-i-Imtiaz’ by the President of Pakistan in 2005.
introduce key initiatives including the establishment of the
Central Depository Company of Pakistan to make securities He holds a Master’s Degree in Defense & Strategic Studies
settlements scrip-less and the modernization of the from Quaid-e-Azam University, Islamabad.
exchange’s trading systems.
Mr. Ashraf Nawabi | Director
He dedicates a significant amount of time to philanthropic
activities. In addition to his own substantial charitable grant
Mr. Ashraf Nawabi is an Independent Director and also the
making through his family foundations, he works with a
member of Risk Management Committee of the Bank.
number of other philanthropic organizations whose causes
he supports. As Chairman of the Board of Trustees of the
Mr. Ashraf Nawabi is a senior banker with over 40 years of
Endowment Fund Trust for Preservation of the Heritage of
experience. He was a founder of Prime Commercial Bank
Sindh, he is responsible for the preservation of heritage and
Limited and remained on its Board of Directors for three
culture in Sindh province.
years. Since 1990, he has been the Advisor to Emirates NBD
Bank PJSC which is the largest bank in the UAE. Since 1989,
He holds a Bachelor’s Degree in Commerce from the
he has also been one of the major shareholders and
University of Sindh.
Director of Alliance Insurance Co. PSC in the UAE. For five
years he was a Director of Union National Bank PJSC, the Mr. Adil Matcheswala | Director Mr. G.M. Sikander | Director Bank of Dubai PJSC. On his return to Pakistan in 1991, he
fourth largest bank in the UAE. Prior to joining Emirates was a member of the core team which established Prime
NBD Bank, he was the Chief Executive Officer of United Mr. Adil Matcheswala is a Non-Executive Director and also Mr. G.M Sikander is an Independent Director. He has been Commercial Bank Limited. He served Prime Bank in the
Bank Limited – Middle East for seven years. a member of the Audit and Risk Management a career civil servant having served the Government of capacity of Senior Executive Vice President and
Committees. He is the CEO and founding Director of Pakistan in various capacities for 39 years. He retired as continued with Prime Bank through its acquisition by and
Mr. Nawabi is also a Director and Chief Executive Officer Speed (Private) Limited, a company incorporated in Federal Secretary of the Housing and Works Division. merger into ABN Amro Bank in Pakistan and the
of First Jamia Services Limited in Lahore and L & N Pakistan that is a large retailer and distributor for a subsequent acquisition of ABN Amro Bank in Pakistan by
(Private) Limited in Karachi since 1991 and 2006 number of leading international brands such as Nike, Tag He has served as Assistant Commissioner and Deputy Royal Bank of Scotland. He joined JS Bank in 2012.
respectively. Both institutions provide education related Heuer and Timex. Commissioner in various districts of Punjab and
services. contributed significantly towards social sector He received his BBA (Hons) and MBA from Karachi
Mr. Matcheswala started his professional career in the development. While serving as Deputy Commissioner of University.
He graduated from the University of Karachi. financial services industry in 1992 and until 2002 was the Kasur he single handedly established a public school on
Head of the Equity Sales Division of Jahangir Siddiqui & self-help basis which has now become a Degree College
Co. Ltd. and Bear Stearns Jahangir Siddiqui Limited. with almost 5,000 students.
Mr. Shahab Anwar Khawaja | Director
He has previously served as the Chairman of the Board Mr. Sikander has previously served as Secretary to the
Mr. Shahab Anwar Khawaja is an Independent Director
and Chairman of the Audit Committee of JS Global Government of the Punjab and NWFP provinces and
and also the Chairman of the Audit Committee. Mr.
Capital Ltd. as well as a Director of the BSJS Balanced Fund headed the departments of Services, Establishment,
Khawaja was a senior civil servant and served the
Ltd. Information & Tourism, Housing & Physical Planning,
Government of Pakistan in various capacities for 36 years.
Baitul Maal, Social Security and Cooperatives. He also
He retired as Federal Secretary to Government of
He graduated from Brown University with an A.B. in served as Principal Secretary to five Chief Ministers in the
Pakistan.
Economics. Punjab for a record period of almost 10 years.
As Secretary Privatization, he supervised the Privatization
After retirement, he serves as a Director and Chairman of
Ministry and Commission. He also served as Secretary of Mr. Kalim-ur-Rahman | Director
the Audit Committee on the Board of Directors of
the Privatization Board and was responsible for
National Fertilizer Marketing Limited. He is also a Trustee
transacting the entire privatization program of public Mr. Kalim-ur-Rahman was formerly President & CEO of JS
of the Hamza Foundation in Lahore which is a foundation
sector enterprises in the country. Earlier he served as Bank Limited. He is a Non-Executive Director and also a
dedicated to supporting and educating deaf and mute
Secretary Ministry of Industries and Production for three member of the Board Risk Management Committee. He
students. He is also a Life Trustee of the Marafi Foundation
years. He has served as CEO of the Competitiveness holds the Director’s certification from the Pakistan
in Kuwait which is engaged in the development of public
Support Fund – a JV of Government of Pakistan & USAID. Institute of Corporate Governance as well as the Institute
health and education sectors in Gilgit Baltistan.
of Directors in London.
As CEO of Small and Medium Enterprises Development
Mr. Sikander received his M.A. in Political Science from
Authority (SMEDA), he managed all Federal Government Mr. Rahman is a seasoned banker with 50 years of
Punjab University and completed a Diploma in
support initiatives to this very large sector of the experience in both international and domestic banking.
Development Administration from the University of
economy. During these years a number of developments He has served in various leading international and
Birmingham. He has also done the advanced National
were achieved to help SME growth especially for higher domestic banks, including Grindlays Bank PLC in the UK
Management Course from the then PASC Lahore and a
value addition through the acquisition of improved and Pakistan, Middle East Bank Ltd. in the UAE and
special course in Development Administration from NIPA
technology. Pakistan as General Manager of South Asia, Emirates
Lahore for DMG officers.
Investment Bank in the UAE as General Manager and
Mr. Khawaja’s last engagement was in the private sector Askari Commercial Bank in Pakistan as President and CEO.
when he headed Fertilizer Manufactures of Pakistan Mr. Khalid Imran | President and CEO
Advisory Council as its Executive Director from June 2012 He did his Senior Cambridge from Burn Hall School and
to June 2015. B.Sc. (Hons) from Government College, Lahore. He had a Mr. Khalid Imran is the President and CEO of JS Bank
first class academic career throughout, and his name is Limited. He has over 40 years of diversified banking
He holds a Master of Science degree in Chemistry and inscribed on the College Roll of Honor. He is a Fellow of experience in Pakistani and foreign banks. He started his
holds Post Graduate Diploma in Development the Institute of Bankers in Pakistan as well as the Institute career with BCCI, where he worked for 16 years in
Administration from Birmingham University, UK. of Chartered Secretaries and Managers, Pakistan. different capacities. He was Joint General Manager of
BCCI Middle East Region. He then worked for Commercial
Table of Contents
Company Information 01
Directors’ Profile 02
Corporate Social Responsibility 05 Mr. Jahangir Siddiqui | Chairman Mr. Mazharul Haq Siddiqui | Director
Notice of Tenth Annual General Meeting 07
Mr. Jahangir Siddiqui is one of Pakistan's leading Mr. Mazharul Haq Siddiqui is a Non- Executive Director and
Client Testimonials 11 entrepreneurs. He established JS Group in 1970 and grew it also a member of Human Resource & Remuneration
to be one of Pakistan's largest conglomerates. He retired as Committee. He retired from the Pakistan Civil Service after a
Financial Highlights 13
CEO of JS Group in 1999 and has since advised and chaired distinguished career as a civil servant and educationist. He
Graphical Presentation of Financial Information 15 the boards of some key group companies. While he was has held many senior positions with the Government of
operationally leading JS Group, he was responsible for Pakistan and in the corporate sector, including Chairman of
Directors’ Report 19
establishing joint ventures with leading global firms Hum Network Limited and National Insurance Corporation
Statement of Compliance 30 including in investment banking with Bear Stearns & Co. Inc. Limited.
and IFC, in asset management with Invesco plc and IFC, in
Review Report to the Members on the Statement of Compliance 33
health insurance with Allianz AG and in Islamic banking Mr. Siddiqui joined the Income Tax Department in 1957
Unconsolidated Financial Statements 34 with Dubai Bank PJSC. through the Central Superior Services competitive
examination and served in various capacities including as
Auditors’ Report to the Members 35
He has been appointed by the Government of Pakistan as a the Commissioner of Income Tax. He served the Provincial
Unconsolidated Statement of Financial Position 37 member of the boards of a number of Government bodies Government of Sindh as Secretary Education, Finance and
including the Privatization Commission, Economic Advisory Services and General Administration Departments. He has
Unconsolidated Profit and Loss Account 38
Board and the Exchange Reforms Committee. As a member served the Federal Government as Secretary Establishment,
Unconsolidated Statement of Comprehensive Income 39 of the Exchange Reforms Committee he was crucial in Education, Management Services, Economic Affairs &
developing the plan through which Pakistan’s capital Statistics and Youth Affairs Departments.
Unconsolidated Statement of Changes in Equity 40
markets were opened up to foreign investors in the early
Unconsolidated Cash Flow Statement 41 1990s. Mr. Siddiqui was Vice Chancellor of Sindh University for
three terms of four years each. In recognition of his services
Notes to the Unconsolidated Financial Statements 42
Mr. Siddiqui served as President of the Karachi Stock to education, administration and management he was
Consolidated Financial Statements 119 Exchange for two terms. During his terms he was able to awarded ‘Sitara-i-Imtiaz’ by the President of Pakistan in 2005.
introduce key initiatives including the establishment of the
Directors’ Report on Consolidated Financial Statements 120
Central Depository Company of Pakistan to make securities He holds a Master’s Degree in Defense & Strategic Studies
settlements scrip-less and the modernization of the from Quaid-e-Azam University, Islamabad.
Auditors’ Report on the Consolidated Financial Statements 122
exchange’s trading systems.
Consolidated Statement of Financial Position 123
Mr. Ashraf Nawabi | Director
He dedicates a significant amount of time to philanthropic
Consolidated Profit and Loss Account 124
activities. In addition to his own substantial charitable grant
Mr. Ashraf Nawabi is an Independent Director and also the
Consolidated Statement of Comprehensive Income 125 making through his family foundations, he works with a
member of Risk Management Committee of the Bank.
number of other philanthropic organizations whose causes
Consolidated Statement of Changes in Equity 126
he supports. As Chairman of the Board of Trustees of the
Mr. Ashraf Nawabi is a senior banker with over 40 years of
Consolidated Cash Flow Statement 127 Endowment Fund Trust for Preservation of the Heritage of
experience. He was a founder of Prime Commercial Bank
Sindh, he is responsible for the preservation of heritage and
Notes to the Consolidated Financial Statements 128 Limited and remained on its Board of Directors for three
culture in Sindh province.
years. Since 1990, he has been the Advisor to Emirates NBD
Annexure I & II 212
Bank PJSC which is the largest bank in the UAE. Since 1989,
He holds a Bachelor’s Degree in Commerce from the
Branch Network 216 he has also been one of the major shareholders and
University of Sindh.
Director of Alliance Insurance Co. PSC in the UAE. For five
Pattern of Shareholding 221
Form of Proxy 223
years he was a Director of Union National Bank PJSC, the Mr. Adil Matcheswala | Director Mr. G.M. Sikander | Director Bank of Dubai PJSC. On his return to Pakistan in 1991, he
fourth largest bank in the UAE. Prior to joining Emirates was a member of the core team which established Prime
NBD Bank, he was the Chief Executive Officer of United Mr. Adil Matcheswala is a Non-Executive Director and also Mr. G.M Sikander is an Independent Director. He has been Commercial Bank Limited. He served Prime Bank in the
Bank Limited – Middle East for seven years. a member of the Audit and Risk Management a career civil servant having served the Government of capacity of Senior Executive Vice President and
Committees. He is the CEO and founding Director of Pakistan in various capacities for 39 years. He retired as continued with Prime Bank through its acquisition by and
Mr. Nawabi is also a Director and Chief Executive Officer Speed (Private) Limited, a company incorporated in Federal Secretary of the Housing and Works Division. merger into ABN Amro Bank in Pakistan and the
of First Jamia Services Limited in Lahore and L & N Pakistan that is a large retailer and distributor for a subsequent acquisition of ABN Amro Bank in Pakistan by
(Private) Limited in Karachi since 1991 and 2006 number of leading international brands such as Nike, Tag He has served as Assistant Commissioner and Deputy Royal Bank of Scotland. He joined JS Bank in 2012.
respectively. Both institutions provide education related Heuer and Timex. Commissioner in various districts of Punjab and
services. contributed significantly towards social sector He received his BBA (Hons) and MBA from Karachi
Mr. Matcheswala started his professional career in the development. While serving as Deputy Commissioner of University.
He graduated from the University of Karachi. financial services industry in 1992 and until 2002 was the Kasur he single handedly established a public school on
Head of the Equity Sales Division of Jahangir Siddiqui & self-help basis which has now become a Degree College
Co. Ltd. and Bear Stearns Jahangir Siddiqui Limited. with almost 5,000 students.
Mr. Shahab Anwar Khawaja | Director
He has previously served as the Chairman of the Board Mr. Sikander has previously served as Secretary to the
Mr. Shahab Anwar Khawaja is an Independent Director
and Chairman of the Audit Committee of JS Global Government of the Punjab and NWFP provinces and
and also the Chairman of the Audit Committee. Mr.
Capital Ltd. as well as a Director of the BSJS Balanced Fund headed the departments of Services, Establishment,
Khawaja was a senior civil servant and served the
Ltd. Information & Tourism, Housing & Physical Planning,
Government of Pakistan in various capacities for 36 years.
Baitul Maal, Social Security and Cooperatives. He also
He retired as Federal Secretary to Government of
He graduated from Brown University with an A.B. in served as Principal Secretary to five Chief Ministers in the
Pakistan.
Economics. Punjab for a record period of almost 10 years.
As Secretary Privatization, he supervised the Privatization
After retirement, he serves as a Director and Chairman of
Ministry and Commission. He also served as Secretary of Mr. Kalim-ur-Rahman | Director
the Audit Committee on the Board of Directors of
the Privatization Board and was responsible for
National Fertilizer Marketing Limited. He is also a Trustee
transacting the entire privatization program of public Mr. Kalim-ur-Rahman was formerly President & CEO of JS
of the Hamza Foundation in Lahore which is a foundation
sector enterprises in the country. Earlier he served as Bank Limited. He is a Non-Executive Director and also a
dedicated to supporting and educating deaf and mute
Secretary Ministry of Industries and Production for three member of the Board Risk Management Committee. He
students. He is also a Life Trustee of the Marafi Foundation
years. He has served as CEO of the Competitiveness holds the Director’s certification from the Pakistan
in Kuwait which is engaged in the development of public
Support Fund – a JV of Government of Pakistan & USAID. Institute of Corporate Governance as well as the Institute
health and education sectors in Gilgit Baltistan.
of Directors in London.
As CEO of Small and Medium Enterprises Development
Mr. Sikander received his M.A. in Political Science from
Authority (SMEDA), he managed all Federal Government Mr. Rahman is a seasoned banker with 50 years of
Punjab University and completed a Diploma in
support initiatives to this very large sector of the experience in both international and domestic banking.
Development Administration from the University of
economy. During these years a number of developments He has served in various leading international and
Birmingham. He has also done the advanced National
were achieved to help SME growth especially for higher domestic banks, including Grindlays Bank PLC in the UK
Management Course from the then PASC Lahore and a
value addition through the acquisition of improved and Pakistan, Middle East Bank Ltd. in the UAE and
special course in Development Administration from NIPA
technology. Pakistan as General Manager of South Asia, Emirates
Lahore for DMG officers.
Investment Bank in the UAE as General Manager and
Mr. Khawaja’s last engagement was in the private sector Askari Commercial Bank in Pakistan as President and CEO.
when he headed Fertilizer Manufactures of Pakistan Mr. Khalid Imran | President and CEO
Advisory Council as its Executive Director from June 2012 He did his Senior Cambridge from Burn Hall School and
to June 2015. B.Sc. (Hons) from Government College, Lahore. He had a Mr. Khalid Imran is the President and CEO of JS Bank
first class academic career throughout, and his name is Limited. He has over 40 years of diversified banking
He holds a Master of Science degree in Chemistry and inscribed on the College Roll of Honor. He is a Fellow of experience in Pakistani and foreign banks. He started his
holds Post Graduate Diploma in Development the Institute of Bankers in Pakistan as well as the Institute career with BCCI, where he worked for 16 years in
Administration from Birmingham University, UK. of Chartered Secretaries and Managers, Pakistan. different capacities. He was Joint General Manager of
BCCI Middle East Region. He then worked for Commercial
Company Information
Board of Directors Chairman Mr. Jahangir Siddiqui
Independent Director Mr. Ashraf Nawabi
Independent Director Mr. Shahab Anwar Khawaja
Independent Director Mr. G.M. Sikander
Non-Executive Director Mr. Mazharul Haq Siddiqui
Non-Executive Director Mr. Adil Matcheswala Mr. Jahangir Siddiqui | Chairman Mr. Mazharul Haq Siddiqui | Director
Non-Executive Director Mr. Kalim-ur-Rahman
President & CEO Mr. Khalid Imran
Mr. Jahangir Siddiqui is one of Pakistan's leading Mr. Mazharul Haq Siddiqui is a Non- Executive Director and

entrepreneurs. He established JS Group in 1970 and grew it also a member of Human Resource & Remuneration
Audit Committee Chairman Mr. Shahab Anwar Khawaja
to be one of Pakistan's largest conglomerates. He retired as Committee. He retired from the Pakistan Civil Service after a
Member Mr. Adil Matcheswala
CEO of JS Group in 1999 and has since advised and chaired distinguished career as a civil servant and educationist. He
Member Mr. G.M. Sikander
the boards of some key group companies. While he was has held many senior positions with the Government of
operationally leading JS Group, he was responsible for Pakistan and in the corporate sector, including Chairman of
Human Resource &
establishing joint ventures with leading global firms Hum Network Limited and National Insurance Corporation
Remunerations Committee Chairman Mr. G.M. Sikander
including in investment banking with Bear Stearns & Co. Inc. Limited.
Member Mr. Mazharul Haq Siddiqui
and IFC, in asset management with Invesco plc and IFC, in
Member Mr. Khalid Imran
health insurance with Allianz AG and in Islamic banking Mr. Siddiqui joined the Income Tax Department in 1957
Risk Management Committee Chairman Mr. Ashraf Nawabi with Dubai Bank PJSC. through the Central Superior Services competitive
Member Mr. Adil Matcheswala examination and served in various capacities including as
Member Mr. Kalim-ur-Rahman He has been appointed by the Government of Pakistan as a the Commissioner of Income Tax. He served the Provincial
Member Mr. Khalid Imran member of the boards of a number of Government bodies Government of Sindh as Secretary Education, Finance and
including the Privatization Commission, Economic Advisory Services and General Administration Departments. He has
Nomination Committee Chairman Mr. Ashraf Nawabi Board and the Exchange Reforms Committee. As a member served the Federal Government as Secretary Establishment,
Member Mr. Shahab Anwar Khawaja of the Exchange Reforms Committee he was crucial in Education, Management Services, Economic Affairs &
Member Mr. G.M. Sikander developing the plan through which Pakistan’s capital Statistics and Youth Affairs Departments.
markets were opened up to foreign investors in the early
Chief Financial Officer Mr. Muhammad Yousuf Amanullah 1990s. Mr. Siddiqui was Vice Chancellor of Sindh University for
three terms of four years each. In recognition of his services
Company Secretary Mr. Ashraf Shahzad Mr. Siddiqui served as President of the Karachi Stock to education, administration and management he was
Exchange for two terms. During his terms he was able to awarded ‘Sitara-i-Imtiaz’ by the President of Pakistan in 2005.
Auditors Deloitte Yousuf Adil
introduce key initiatives including the establishment of the
Chartered Accountants
Central Depository Company of Pakistan to make securities He holds a Master’s Degree in Defense & Strategic Studies
(Member firm of Deloitte
settlements scrip-less and the modernization of the from Quaid-e-Azam University, Islamabad.
Touche Tohmatsu)
exchange’s trading systems.
Legal Advisors Haidermota BNR Mr. Ashraf Nawabi | Director
He dedicates a significant amount of time to philanthropic
Bawaney & Partners
activities. In addition to his own substantial charitable grant
Liaquat Merchant Associates Mr. Ashraf Nawabi is an Independent Director and also the
making through his family foundations, he works with a
member of Risk Management Committee of the Bank.
number of other philanthropic organizations whose causes
Share Registrar Technology Trade (Pvt.) Limited
he supports. As Chairman of the Board of Trustees of the
241-C, Block – 2, P.E.C.H.S, Karachi Mr. Ashraf Nawabi is a senior banker with over 40 years of
Endowment Fund Trust for Preservation of the Heritage of
experience. He was a founder of Prime Commercial Bank
Sindh, he is responsible for the preservation of heritage and
Registered Office JS Bank Limited
Limited and remained on its Board of Directors for three
culture in Sindh province.
Shaheen Commercial Complex
years. Since 1990, he has been the Advisor to Emirates NBD
Dr. Ziauddin Ahmed Road
Bank PJSC which is the largest bank in the UAE. Since 1989,
P.O. Box 4847 Karachi-74200, Pakistan He holds a Bachelor’s Degree in Commerce from the
he has also been one of the major shareholders and
UAN: +92 21 111 JS Bank (572-265) University of Sindh.
Director of Alliance Insurance Co. PSC in the UAE. For five
0800-011-22 | www.jsbl.com
01 JS Bank / 2015 Annual Report
years he was a Director of Union National Bank PJSC, the Mr. Adil Matcheswala | Director Mr. G.M. Sikander | Director Bank of Dubai PJSC. On his return to Pakistan in 1991, he
fourth largest bank in the UAE. Prior to joining Emirates was a member of the core team which established Prime
NBD Bank, he was the Chief Executive Officer of United Mr. Adil Matcheswala is a Non-Executive Director and also Mr. G.M Sikander is an Independent Director. He has been Commercial Bank Limited. He served Prime Bank in the
Bank Limited – Middle East for seven years. a member of the Audit and Risk Management a career civil servant having served the Government of capacity of Senior Executive Vice President and
Committees. He is the CEO and founding Director of Pakistan in various capacities for 39 years. He retired as continued with Prime Bank through its acquisition by and
Mr. Nawabi is also a Director and Chief Executive Officer Speed (Private) Limited, a company incorporated in Federal Secretary of the Housing and Works Division. merger into ABN Amro Bank in Pakistan and the
of First Jamia Services Limited in Lahore and L & N Pakistan that is a large retailer and distributor for a subsequent acquisition of ABN Amro Bank in Pakistan by
(Private) Limited in Karachi since 1991 and 2006 number of leading international brands such as Nike, Tag He has served as Assistant Commissioner and Deputy Royal Bank of Scotland. He joined JS Bank in 2012.
respectively. Both institutions provide education related Heuer and Timex. Commissioner in various districts of Punjab and
services. contributed significantly towards social sector He received his BBA (Hons) and MBA from Karachi
Mr. Matcheswala started his professional career in the development. While serving as Deputy Commissioner of University.
He graduated from the University of Karachi. financial services industry in 1992 and until 2002 was the Kasur he single handedly established a public school on
Head of the Equity Sales Division of Jahangir Siddiqui & self-help basis which has now become a Degree College
Co. Ltd. and Bear Stearns Jahangir Siddiqui Limited. with almost 5,000 students.
Mr. Shahab Anwar Khawaja | Director
He has previously served as the Chairman of the Board Mr. Sikander has previously served as Secretary to the
Mr. Shahab Anwar Khawaja is an Independent Director
and Chairman of the Audit Committee of JS Global Government of the Punjab and NWFP provinces and
and also the Chairman of the Audit Committee. Mr.
Capital Ltd. as well as a Director of the BSJS Balanced Fund headed the departments of Services, Establishment,
Khawaja was a senior civil servant and served the
Ltd. Information & Tourism, Housing & Physical Planning,
Government of Pakistan in various capacities for 36 years.
Baitul Maal, Social Security and Cooperatives. He also
He retired as Federal Secretary to Government of
He graduated from Brown University with an A.B. in served as Principal Secretary to five Chief Ministers in the
Pakistan.
Economics. Punjab for a record period of almost 10 years.
As Secretary Privatization, he supervised the Privatization
After retirement, he serves as a Director and Chairman of
Ministry and Commission. He also served as Secretary of Mr. Kalim-ur-Rahman | Director
the Audit Committee on the Board of Directors of
the Privatization Board and was responsible for
National Fertilizer Marketing Limited. He is also a Trustee
transacting the entire privatization program of public Mr. Kalim-ur-Rahman was formerly President & CEO of JS
of the Hamza Foundation in Lahore which is a foundation
sector enterprises in the country. Earlier he served as Bank Limited. He is a Non-Executive Director and also a
dedicated to supporting and educating deaf and mute
Secretary Ministry of Industries and Production for three member of the Board Risk Management Committee. He
students. He is also a Life Trustee of the Marafi Foundation
years. He has served as CEO of the Competitiveness holds the Director’s certification from the Pakistan
in Kuwait which is engaged in the development of public
Support Fund – a JV of Government of Pakistan & USAID. Institute of Corporate Governance as well as the Institute
health and education sectors in Gilgit Baltistan.
of Directors in London.
As CEO of Small and Medium Enterprises Development
Mr. Sikander received his M.A. in Political Science from
Authority (SMEDA), he managed all Federal Government Mr. Rahman is a seasoned banker with 50 years of
Punjab University and completed a Diploma in
support initiatives to this very large sector of the experience in both international and domestic banking.
Development Administration from the University of
economy. During these years a number of developments He has served in various leading international and
Birmingham. He has also done the advanced National
were achieved to help SME growth especially for higher domestic banks, including Grindlays Bank PLC in the UK
Management Course from the then PASC Lahore and a
value addition through the acquisition of improved and Pakistan, Middle East Bank Ltd. in the UAE and
special course in Development Administration from NIPA
technology. Pakistan as General Manager of South Asia, Emirates
Lahore for DMG officers.
Investment Bank in the UAE as General Manager and
Mr. Khawaja’s last engagement was in the private sector Askari Commercial Bank in Pakistan as President and CEO.
when he headed Fertilizer Manufactures of Pakistan Mr. Khalid Imran | President and CEO
Advisory Council as its Executive Director from June 2012 He did his Senior Cambridge from Burn Hall School and
to June 2015. B.Sc. (Hons) from Government College, Lahore. He had a Mr. Khalid Imran is the President and CEO of JS Bank
first class academic career throughout, and his name is Limited. He has over 40 years of diversified banking
He holds a Master of Science degree in Chemistry and inscribed on the College Roll of Honor. He is a Fellow of experience in Pakistani and foreign banks. He started his
holds Post Graduate Diploma in Development the Institute of Bankers in Pakistan as well as the Institute career with BCCI, where he worked for 16 years in
Administration from Birmingham University, UK. of Chartered Secretaries and Managers, Pakistan. different capacities. He was Joint General Manager of
BCCI Middle East Region. He then worked for Commercial
Prof ile of Board of Directors
Mr. Jahangir Siddiqui | Chairman Mr. Mazharul Haq Siddiqui | Director
Mr. Jahangir Siddiqui is one of Pakistan's leading Mr. Mazharul Haq Siddiqui is a Non- Executive Director and
entrepreneurs. He established JS Group in 1970 and grew it also a member of Human Resource & Remuneration
to be one of Pakistan's largest conglomerates. He retired as Committee. He retired from the Pakistan Civil Service after a
CEO of JS Group in 1999 and has since advised and chaired distinguished career as a civil servant and educationist. He
the boards of some key group companies. While he was has held many senior positions with the Government of
operationally leading JS Group, he was responsible for Pakistan and in the corporate sector, including Chairman of
establishing joint ventures with leading global firms Hum Network Limited and National Insurance Corporation
including in investment banking with Bear Stearns & Co. Inc. Limited.
and IFC, in asset management with Invesco plc and IFC, in
health insurance with Allianz AG and in Islamic banking Mr. Siddiqui joined the Income Tax Department in 1957
with Dubai Bank PJSC. through the Central Superior Services competitive
examination and served in various capacities including as
He has been appointed by the Government of Pakistan as a the Commissioner of Income Tax. He served the Provincial
member of the boards of a number of Government bodies Government of Sindh as Secretary Education, Finance and
including the Privatization Commission, Economic Advisory Services and General Administration Departments. He has
Board and the Exchange Reforms Committee. As a member served the Federal Government as Secretary Establishment,
of the Exchange Reforms Committee he was crucial in Education, Management Services, Economic Affairs &
developing the plan through which Pakistan’s capital Statistics and Youth Affairs Departments.
markets were opened up to foreign investors in the early
1990s. Mr. Siddiqui was Vice Chancellor of Sindh University for
three terms of four years each. In recognition of his services
Mr. Siddiqui served as President of the Karachi Stock to education, administration and management he was
Exchange for two terms. During his terms he was able to awarded ‘Sitara-i-Imtiaz’ by the President of Pakistan in 2005.
introduce key initiatives including the establishment of the
Central Depository Company of Pakistan to make securities He holds a Master’s Degree in Defense & Strategic Studies
settlements scrip-less and the modernization of the from Quaid-e-Azam University, Islamabad.
exchange’s trading systems.
Mr. Ashraf Nawabi | Director
He dedicates a significant amount of time to philanthropic
activities. In addition to his own substantial charitable grant
Mr. Ashraf Nawabi is an Independent Director and also the
making through his family foundations, he works with a
member of Risk Management Committee of the Bank.
number of other philanthropic organizations whose causes
he supports. As Chairman of the Board of Trustees of the
Mr. Ashraf Nawabi is a senior banker with over 40 years of
Endowment Fund Trust for Preservation of the Heritage of
experience. He was a founder of Prime Commercial Bank
Sindh, he is responsible for the preservation of heritage and
Limited and remained on its Board of Directors for three
culture in Sindh province.
years. Since 1990, he has been the Advisor to Emirates NBD
Bank PJSC which is the largest bank in the UAE. Since 1989,
He holds a Bachelor’s Degree in Commerce from the
he has also been one of the major shareholders and
University of Sindh.
Director of Alliance Insurance Co. PSC in the UAE. For five
JS Bank / 2015 Annual Report 02
years he was a Director of Union National Bank PJSC, the Mr. Adil Matcheswala | Director Mr. G.M. Sikander | Director Bank of Dubai PJSC. On his return to Pakistan in 1991, he
fourth largest bank in the UAE. Prior to joining Emirates was a member of the core team which established Prime
NBD Bank, he was the Chief Executive Officer of United Mr. Adil Matcheswala is a Non-Executive Director and also Mr. G.M Sikander is an Independent Director. He has been Commercial Bank Limited. He served Prime Bank in the
Bank Limited – Middle East for seven years. a member of the Audit and Risk Management a career civil servant having served the Government of capacity of Senior Executive Vice President and
Committees. He is the CEO and founding Director of Pakistan in various capacities for 39 years. He retired as continued with Prime Bank through its acquisition by and
Mr. Nawabi is also a Director and Chief Executive Officer Speed (Private) Limited, a company incorporated in Federal Secretary of the Housing and Works Division. merger into ABN Amro Bank in Pakistan and the
of First Jamia Services Limited in Lahore and L & N Pakistan that is a large retailer and distributor for a subsequent acquisition of ABN Amro Bank in Pakistan by
(Private) Limited in Karachi since 1991 and 2006 number of leading international brands such as Nike, Tag He has served as Assistant Commissioner and Deputy Royal Bank of Scotland. He joined JS Bank in 2012.
respectively. Both institutions provide education related Heuer and Timex. Commissioner in various districts of Punjab and
services. contributed significantly towards social sector He received his BBA (Hons) and MBA from Karachi
Mr. Matcheswala started his professional career in the development. While serving as Deputy Commissioner of University.
He graduated from the University of Karachi. financial services industry in 1992 and until 2002 was the Kasur he single handedly established a public school on
Head of the Equity Sales Division of Jahangir Siddiqui & self-help basis which has now become a Degree College
Co. Ltd. and Bear Stearns Jahangir Siddiqui Limited. with almost 5,000 students.
Mr. Shahab Anwar Khawaja | Director
He has previously served as the Chairman of the Board Mr. Sikander has previously served as Secretary to the
Mr. Shahab Anwar Khawaja is an Independent Director
and Chairman of the Audit Committee of JS Global Government of the Punjab and NWFP provinces and
and also the Chairman of the Audit Committee. Mr.
Capital Ltd. as well as a Director of the BSJS Balanced Fund headed the departments of Services, Establishment,
Khawaja was a senior civil servant and served the
Ltd. Information & Tourism, Housing & Physical Planning,
Government of Pakistan in various capacities for 36 years.
Baitul Maal, Social Security and Cooperatives. He also
He retired as Federal Secretary to Government of
He graduated from Brown University with an A.B. in served as Principal Secretary to five Chief Ministers in the
Pakistan.
Economics. Punjab for a record period of almost 10 years.
As Secretary Privatization, he supervised the Privatization
After retirement, he serves as a Director and Chairman of
Ministry and Commission. He also served as Secretary of Mr. Kalim-ur-Rahman | Director
the Audit Committee on the Board of Directors of
the Privatization Board and was responsible for
National Fertilizer Marketing Limited. He is also a Trustee
transacting the entire privatization program of public Mr. Kalim-ur-Rahman was formerly President & CEO of JS
of the Hamza Foundation in Lahore which is a foundation
sector enterprises in the country. Earlier he served as Bank Limited. He is a Non-Executive Director and also a
dedicated to supporting and educating deaf and mute
Secretary Ministry of Industries and Production for three member of the Board Risk Management Committee. He
students. He is also a Life Trustee of the Marafi Foundation
years. He has served as CEO of the Competitiveness holds the Director’s certification from the Pakistan
in Kuwait which is engaged in the development of public
Support Fund – a JV of Government of Pakistan & USAID. Institute of Corporate Governance as well as the Institute
health and education sectors in Gilgit Baltistan.
of Directors in London.
As CEO of Small and Medium Enterprises Development
Mr. Sikander received his M.A. in Political Science from
Authority (SMEDA), he managed all Federal Government Mr. Rahman is a seasoned banker with 50 years of
Punjab University and completed a Diploma in
support initiatives to this very large sector of the experience in both international and domestic banking.
Development Administration from the University of
economy. During these years a number of developments He has served in various leading international and
Birmingham. He has also done the advanced National
were achieved to help SME growth especially for higher domestic banks, including Grindlays Bank PLC in the UK
Management Course from the then PASC Lahore and a
value addition through the acquisition of improved and Pakistan, Middle East Bank Ltd. in the UAE and
special course in Development Administration from NIPA
technology. Pakistan as General Manager of South Asia, Emirates
Lahore for DMG officers.
Investment Bank in the UAE as General Manager and
Mr. Khawaja’s last engagement was in the private sector Askari Commercial Bank in Pakistan as President and CEO.
when he headed Fertilizer Manufactures of Pakistan Mr. Khalid Imran | President and CEO
Advisory Council as its Executive Director from June 2012 He did his Senior Cambridge from Burn Hall School and
to June 2015. B.Sc. (Hons) from Government College, Lahore. He had a Mr. Khalid Imran is the President and CEO of JS Bank
first class academic career throughout, and his name is Limited. He has over 40 years of diversified banking
He holds a Master of Science degree in Chemistry and inscribed on the College Roll of Honor. He is a Fellow of experience in Pakistani and foreign banks. He started his
holds Post Graduate Diploma in Development the Institute of Bankers in Pakistan as well as the Institute career with BCCI, where he worked for 16 years in
Administration from Birmingham University, UK. of Chartered Secretaries and Managers, Pakistan. different capacities. He was Joint General Manager of
BCCI Middle East Region. He then worked for Commercial
Mr. Jahangir Siddiqui | Chairman Mr. Mazharul Haq Siddiqui | Director
Mr. Jahangir Siddiqui is one of Pakistan's leading Mr. Mazharul Haq Siddiqui is a Non- Executive Director and
entrepreneurs. He established JS Group in 1970 and grew it also a member of Human Resource & Remuneration
to be one of Pakistan's largest conglomerates. He retired as Committee. He retired from the Pakistan Civil Service after a
CEO of JS Group in 1999 and has since advised and chaired distinguished career as a civil servant and educationist. He
the boards of some key group companies. While he was has held many senior positions with the Government of
operationally leading JS Group, he was responsible for Pakistan and in the corporate sector, including Chairman of
establishing joint ventures with leading global firms Hum Network Limited and National Insurance Corporation
including in investment banking with Bear Stearns & Co. Inc. Limited.
and IFC, in asset management with Invesco plc and IFC, in
health insurance with Allianz AG and in Islamic banking Mr. Siddiqui joined the Income Tax Department in 1957
with Dubai Bank PJSC. through the Central Superior Services competitive
examination and served in various capacities including as
He has been appointed by the Government of Pakistan as a the Commissioner of Income Tax. He served the Provincial
member of the boards of a number of Government bodies Government of Sindh as Secretary Education, Finance and
including the Privatization Commission, Economic Advisory Services and General Administration Departments. He has
Board and the Exchange Reforms Committee. As a member served the Federal Government as Secretary Establishment,
of the Exchange Reforms Committee he was crucial in Education, Management Services, Economic Affairs &
developing the plan through which Pakistan’s capital Statistics and Youth Affairs Departments.
markets were opened up to foreign investors in the early
1990s. Mr. Siddiqui was Vice Chancellor of Sindh University for
three terms of four years each. In recognition of his services
Mr. Siddiqui served as President of the Karachi Stock to education, administration and management he was
Exchange for two terms. During his terms he was able to awarded ‘Sitara-i-Imtiaz’ by the President of Pakistan in 2005.
introduce key initiatives including the establishment of the
Central Depository Company of Pakistan to make securities He holds a Master’s Degree in Defense & Strategic Studies
settlements scrip-less and the modernization of the from Quaid-e-Azam University, Islamabad.
exchange’s trading systems.
Mr. Ashraf Nawabi | Director
He dedicates a significant amount of time to philanthropic
activities. In addition to his own substantial charitable grant
Mr. Ashraf Nawabi is an Independent Director and also the
making through his family foundations, he works with a
member of Risk Management Committee of the Bank.
number of other philanthropic organizations whose causes
he supports. As Chairman of the Board of Trustees of the
Mr. Ashraf Nawabi is a senior banker with over 40 years of
Endowment Fund Trust for Preservation of the Heritage of
experience. He was a founder of Prime Commercial Bank
Sindh, he is responsible for the preservation of heritage and
Limited and remained on its Board of Directors for three
culture in Sindh province.
years. Since 1990, he has been the Advisor to Emirates NBD
Bank PJSC which is the largest bank in the UAE. Since 1989,
He holds a Bachelor’s Degree in Commerce from the
he has also been one of the major shareholders and
University of Sindh.
Director of Alliance Insurance Co. PSC in the UAE. For five
years he was a Director of Union National Bank PJSC, the Mr. Adil Matcheswala | Director Mr. G.M. Sikander | Director Bank of Dubai PJSC. On his return to Pakistan in 1991, he
fourth largest bank in the UAE. Prior to joining Emirates was a member of the core team which established Prime
NBD Bank, he was the Chief Executive Officer of United Mr. Adil Matcheswala is a Non-Executive Director and also Mr. G.M Sikander is an Independent Director. He has been Commercial Bank Limited. He served Prime Bank in the
Bank Limited – Middle East for seven years. a member of the Audit and Risk Management a career civil servant having served the Government of capacity of Senior Executive Vice President and
Committees. He is the CEO and founding Director of Pakistan in various capacities for 39 years. He retired as continued with Prime Bank through its acquisition by and
Mr. Nawabi is also a Director and Chief Executive Officer Speed (Private) Limited, a company incorporated in Federal Secretary of the Housing and Works Division. merger into ABN Amro Bank in Pakistan and the
of First Jamia Services Limited in Lahore and L & N Pakistan that is a large retailer and distributor for a subsequent acquisition of ABN Amro Bank in Pakistan by
(Private) Limited in Karachi since 1991 and 2006 number of leading international brands such as Nike, Tag He has served as Assistant Commissioner and Deputy Royal Bank of Scotland. He joined JS Bank in 2012.
respectively. Both institutions provide education related Heuer and Timex. Commissioner in various districts of Punjab and
services. contributed significantly towards social sector He received his BBA (Hons) and MBA from Karachi
Mr. Matcheswala started his professional career in the development. While serving as Deputy Commissioner of University.
He graduated from the University of Karachi. financial services industry in 1992 and until 2002 was the Kasur he single handedly established a public school on
Head of the Equity Sales Division of Jahangir Siddiqui & self-help basis which has now become a Degree College
Co. Ltd. and Bear Stearns Jahangir Siddiqui Limited. with almost 5,000 students.
Mr. Shahab Anwar Khawaja | Director
He has previously served as the Chairman of the Board Mr. Sikander has previously served as Secretary to the
Mr. Shahab Anwar Khawaja is an Independent Director
and Chairman of the Audit Committee of JS Global Government of the Punjab and NWFP provinces and
and also the Chairman of the Audit Committee. Mr.
Capital Ltd. as well as a Director of the BSJS Balanced Fund headed the departments of Services, Establishment,
Khawaja was a senior civil servant and served the
Ltd. Information & Tourism, Housing & Physical Planning,
Government of Pakistan in various capacities for 36 years.
Baitul Maal, Social Security and Cooperatives. He also
He retired as Federal Secretary to Government of
He graduated from Brown University with an A.B. in served as Principal Secretary to five Chief Ministers in the
Pakistan.
Economics. Punjab for a record period of almost 10 years.
As Secretary Privatization, he supervised the Privatization
After retirement, he serves as a Director and Chairman of
Ministry and Commission. He also served as Secretary of Mr. Kalim-ur-Rahman | Director
the Audit Committee on the Board of Directors of
the Privatization Board and was responsible for
National Fertilizer Marketing Limited. He is also a Trustee
transacting the entire privatization program of public Mr. Kalim-ur-Rahman was formerly President & CEO of JS
of the Hamza Foundation in Lahore which is a foundation
sector enterprises in the country. Earlier he served as Bank Limited. He is a Non-Executive Director and also a
dedicated to supporting and educating deaf and mute
Secretary Ministry of Industries and Production for three member of the Board Risk Management Committee. He
students. He is also a Life Trustee of the Marafi Foundation
years. He has served as CEO of the Competitiveness holds the Director’s certification from the Pakistan
in Kuwait which is engaged in the development of public
Support Fund – a JV of Government of Pakistan & USAID. Institute of Corporate Governance as well as the Institute
health and education sectors in Gilgit Baltistan.
of Directors in London.
As CEO of Small and Medium Enterprises Development
Mr. Sikander received his M.A. in Political Science from
Authority (SMEDA), he managed all Federal Government Mr. Rahman is a seasoned banker with 50 years of
Punjab University and completed a Diploma in
support initiatives to this very large sector of the experience in both international and domestic banking.
Development Administration from the University of
economy. During these years a number of developments He has served in various leading international and
Birmingham. He has also done the advanced National
were achieved to help SME growth especially for higher domestic banks, including Grindlays Bank PLC in the UK
Management Course from the then PASC Lahore and a
value addition through the acquisition of improved and Pakistan, Middle East Bank Ltd. in the UAE and
special course in Development Administration from NIPA
technology. Pakistan as General Manager of South Asia, Emirates
Lahore for DMG officers.
Investment Bank in the UAE as General Manager and
Mr. Khawaja’s last engagement was in the private sector Askari Commercial Bank in Pakistan as President and CEO.
when he headed Fertilizer Manufactures of Pakistan Mr. Khalid Imran | President and CEO
Advisory Council as its Executive Director from June 2012 He did his Senior Cambridge from Burn Hall School and
to June 2015. B.Sc. (Hons) from Government College, Lahore. He had a Mr. Khalid Imran is the President and CEO of JS Bank
first class academic career throughout, and his name is Limited. He has over 40 years of diversified banking
He holds a Master of Science degree in Chemistry and inscribed on the College Roll of Honor. He is a Fellow of experience in Pakistani and foreign banks. He started his
holds Post Graduate Diploma in Development the Institute of Bankers in Pakistan as well as the Institute career with BCCI, where he worked for 16 years in
Administration from Birmingham University, UK. of Chartered Secretaries and Managers, Pakistan. different capacities. He was Joint General Manager of
BCCI Middle East Region. He then worked for Commercial
03 JS Bank / 2015 Annual Report
Mr. Jahangir Siddiqui | Chairman Mr. Mazharul Haq Siddiqui | Director
Mr. Jahangir Siddiqui is one of Pakistan's leading Mr. Mazharul Haq Siddiqui is a Non- Executive Director and
entrepreneurs. He established JS Group in 1970 and grew it also a member of Human Resource & Remuneration
to be one of Pakistan's largest conglomerates. He retired as Committee. He retired from the Pakistan Civil Service after a
CEO of JS Group in 1999 and has since advised and chaired distinguished career as a civil servant and educationist. He
the boards of some key group companies. While he was has held many senior positions with the Government of
operationally leading JS Group, he was responsible for Pakistan and in the corporate sector, including Chairman of
establishing joint ventures with leading global firms Hum Network Limited and National Insurance Corporation
including in investment banking with Bear Stearns & Co. Inc. Limited.
and IFC, in asset management with Invesco plc and IFC, in
health insurance with Allianz AG and in Islamic banking Mr. Siddiqui joined the Income Tax Department in 1957
with Dubai Bank PJSC. through the Central Superior Services competitive
examination and served in various capacities including as
He has been appointed by the Government of Pakistan as a the Commissioner of Income Tax. He served the Provincial
member of the boards of a number of Government bodies Government of Sindh as Secretary Education, Finance and
including the Privatization Commission, Economic Advisory Services and General Administration Departments. He has
Board and the Exchange Reforms Committee. As a member served the Federal Government as Secretary Establishment,
of the Exchange Reforms Committee he was crucial in Education, Management Services, Economic Affairs &
developing the plan through which Pakistan’s capital Statistics and Youth Affairs Departments.
markets were opened up to foreign investors in the early
1990s. Mr. Siddiqui was Vice Chancellor of Sindh University for
three terms of four years each. In recognition of his services
Mr. Siddiqui served as President of the Karachi Stock to education, administration and management he was
Exchange for two terms. During his terms he was able to awarded ‘Sitara-i-Imtiaz’ by the President of Pakistan in 2005.
introduce key initiatives including the establishment of the
Central Depository Company of Pakistan to make securities He holds a Master’s Degree in Defense & Strategic Studies
settlements scrip-less and the modernization of the from Quaid-e-Azam University, Islamabad.
exchange’s trading systems.
Mr. Ashraf Nawabi | Director
He dedicates a significant amount of time to philanthropic
activities. In addition to his own substantial charitable grant
Mr. Ashraf Nawabi is an Independent Director and also the
making through his family foundations, he works with a
member of Risk Management Committee of the Bank.
number of other philanthropic organizations whose causes
he supports. As Chairman of the Board of Trustees of the
Mr. Ashraf Nawabi is a senior banker with over 40 years of
Endowment Fund Trust for Preservation of the Heritage of
experience. He was a founder of Prime Commercial Bank
Sindh, he is responsible for the preservation of heritage and
Limited and remained on its Board of Directors for three
culture in Sindh province.
years. Since 1990, he has been the Advisor to Emirates NBD
Bank PJSC which is the largest bank in the UAE. Since 1989,
He holds a Bachelor’s Degree in Commerce from the
he has also been one of the major shareholders and
University of Sindh.
Director of Alliance Insurance Co. PSC in the UAE. For five
years he was a Director of Union National Bank PJSC, the Mr. Adil Matcheswala | Director Mr. G.M. Sikander | Director Bank of Dubai PJSC. On his return to Pakistan in 1991, he
fourth largest bank in the UAE. Prior to joining Emirates was a member of the core team which established Prime
NBD Bank, he was the Chief Executive Officer of United Mr. Adil Matcheswala is a Non-Executive Director and also Mr. G.M Sikander is an Independent Director. He has been Commercial Bank Limited. He served Prime Bank in the
Bank Limited – Middle East for seven years. a member of the Audit and Risk Management a career civil servant having served the Government of capacity of Senior Executive Vice President and
Committees. He is the CEO and founding Director of Pakistan in various capacities for 39 years. He retired as continued with Prime Bank through its acquisition by and
Mr. Nawabi is also a Director and Chief Executive Officer Speed (Private) Limited, a company incorporated in Federal Secretary of the Housing and Works Division. merger into ABN Amro Bank in Pakistan and the
of First Jamia Services Limited in Lahore and L & N Pakistan that is a large retailer and distributor for a subsequent acquisition of ABN Amro Bank in Pakistan by
(Private) Limited in Karachi since 1991 and 2006 number of leading international brands such as Nike, Tag He has served as Assistant Commissioner and Deputy Royal Bank of Scotland. He joined JS Bank in 2012.
respectively. Both institutions provide education related Heuer and Timex. Commissioner in various districts of Punjab and
services. contributed significantly towards social sector He received his BBA (Hons) and MBA from Karachi
Mr. Matcheswala started his professional career in the development. While serving as Deputy Commissioner of University.
He graduated from the University of Karachi. financial services industry in 1992 and until 2002 was the Kasur he single handedly established a public school on
Head of the Equity Sales Division of Jahangir Siddiqui & self-help basis which has now become a Degree College
Co. Ltd. and Bear Stearns Jahangir Siddiqui Limited. with almost 5,000 students.
Mr. Shahab Anwar Khawaja | Director
He has previously served as the Chairman of the Board Mr. Sikander has previously served as Secretary to the
Mr. Shahab Anwar Khawaja is an Independent Director
and Chairman of the Audit Committee of JS Global Government of the Punjab and NWFP provinces and
and also the Chairman of the Audit Committee. Mr.
Capital Ltd. as well as a Director of the BSJS Balanced Fund headed the departments of Services, Establishment,
Khawaja was a senior civil servant and served the
Ltd. Information & Tourism, Housing & Physical Planning,
Government of Pakistan in various capacities for 36 years.
Baitul Maal, Social Security and Cooperatives. He also
He retired as Federal Secretary to Government of
He graduated from Brown University with an A.B. in served as Principal Secretary to five Chief Ministers in the
Pakistan.
Economics. Punjab for a record period of almost 10 years.
As Secretary Privatization, he supervised the Privatization
After retirement, he serves as a Director and Chairman of
Ministry and Commission. He also served as Secretary of Mr. Kalim-ur-Rahman | Director
the Audit Committee on the Board of Directors of
the Privatization Board and was responsible for
National Fertilizer Marketing Limited. He is also a Trustee
transacting the entire privatization program of public Mr. Kalim-ur-Rahman was formerly President & CEO of JS
of the Hamza Foundation in Lahore which is a foundation
sector enterprises in the country. Earlier he served as Bank Limited. He is a Non-Executive Director and also a
dedicated to supporting and educating deaf and mute
Secretary Ministry of Industries and Production for three member of the Board Risk Management Committee. He
students. He is also a Life Trustee of the Marafi Foundation
years. He has served as CEO of the Competitiveness holds the Director’s certification from the Pakistan
in Kuwait which is engaged in the development of public
Support Fund – a JV of Government of Pakistan & USAID. Institute of Corporate Governance as well as the Institute
health and education sectors in Gilgit Baltistan.
of Directors in London.
As CEO of Small and Medium Enterprises Development
Mr. Sikander received his M.A. in Political Science from
Authority (SMEDA), he managed all Federal Government Mr. Rahman is a seasoned banker with 50 years of
Punjab University and completed a Diploma in
support initiatives to this very large sector of the experience in both international and domestic banking.
Development Administration from the University of
economy. During these years a number of developments He has served in various leading international and
Birmingham. He has also done the advanced National
were achieved to help SME growth especially for higher domestic banks, including Grindlays Bank PLC in the UK
Management Course from the then PASC Lahore and a
value addition through the acquisition of improved and Pakistan, Middle East Bank Ltd. in the UAE and
special course in Development Administration from NIPA
technology. Pakistan as General Manager of South Asia, Emirates
Lahore for DMG officers.
Investment Bank in the UAE as General Manager and
Mr. Khawaja’s last engagement was in the private sector Askari Commercial Bank in Pakistan as President and CEO.
when he headed Fertilizer Manufactures of Pakistan Mr. Khalid Imran | President and CEO
Advisory Council as its Executive Director from June 2012 He did his Senior Cambridge from Burn Hall School and
to June 2015. B.Sc. (Hons) from Government College, Lahore. He had a Mr. Khalid Imran is the President and CEO of JS Bank
first class academic career throughout, and his name is Limited. He has over 40 years of diversified banking
He holds a Master of Science degree in Chemistry and inscribed on the College Roll of Honor. He is a Fellow of experience in Pakistani and foreign banks. He started his
holds Post Graduate Diploma in Development the Institute of Bankers in Pakistan as well as the Institute career with BCCI, where he worked for 16 years in
Administration from Birmingham University, UK. of Chartered Secretaries and Managers, Pakistan. different capacities. He was Joint General Manager of
BCCI Middle East Region. He then worked for Commercial
JS Bank / 2015 Annual Report 04
Mr. Jahangir Siddiqui | Chairman Mr. Mazharul Haq Siddiqui | Director
Mr. Jahangir Siddiqui is one of Pakistan's leading Mr. Mazharul Haq Siddiqui is a Non- Executive Director and
entrepreneurs. He established JS Group in 1970 and grew it also a member of Human Resource & Remuneration
to be one of Pakistan's largest conglomerates. He retired as Committee. He retired from the Pakistan Civil Service after a
CEO of JS Group in 1999 and has since advised and chaired distinguished career as a civil servant and educationist. He
the boards of some key group companies. While he was has held many senior positions with the Government of
operationally leading JS Group, he was responsible for Pakistan and in the corporate sector, including Chairman of
establishing joint ventures with leading global firms Hum Network Limited and National Insurance Corporation
including in investment banking with Bear Stearns & Co. Inc. Limited.
and IFC, in asset management with Invesco plc and IFC, in
health insurance with Allianz AG and in Islamic banking Mr. Siddiqui joined the Income Tax Department in 1957
with Dubai Bank PJSC. through the Central Superior Services competitive
examination and served in various capacities including as
He has been appointed by the Government of Pakistan as a the Commissioner of Income Tax. He served the Provincial
member of the boards of a number of Government bodies Government of Sindh as Secretary Education, Finance and
including the Privatization Commission, Economic Advisory Services and General Administration Departments. He has
Board and the Exchange Reforms Committee. As a member served the Federal Government as Secretary Establishment,
of the Exchange Reforms Committee he was crucial in Education, Management Services, Economic Affairs &
developing the plan through which Pakistan’s capital Statistics and Youth Affairs Departments.
markets were opened up to foreign investors in the early
1990s. Mr. Siddiqui was Vice Chancellor of Sindh University for
three terms of four years each. In recognition of his services
Mr. Siddiqui served as President of the Karachi Stock to education, administration and management he was
Exchange for two terms. During his terms he was able to awarded ‘Sitara-i-Imtiaz’ by the President of Pakistan in 2005.
introduce key initiatives including the establishment of the
Central Depository Company of Pakistan to make securities He holds a Master’s Degree in Defense & Strategic Studies
settlements scrip-less and the modernization of the from Quaid-e-Azam University, Islamabad.
exchange’s trading systems.
Mr. Ashraf Nawabi | Director
He dedicates a significant amount of time to philanthropic
activities. In addition to his own substantial charitable grant
Mr. Ashraf Nawabi is an Independent Director and also the
making through his family foundations, he works with a
member of Risk Management Committee of the Bank.
number of other philanthropic organizations whose causes
he supports. As Chairman of the Board of Trustees of the
Mr. Ashraf Nawabi is a senior banker with over 40 years of
Endowment Fund Trust for Preservation of the Heritage of
experience. He was a founder of Prime Commercial Bank
Sindh, he is responsible for the preservation of heritage and
Limited and remained on its Board of Directors for three
culture in Sindh province.
years. Since 1990, he has been the Advisor to Emirates NBD
Bank PJSC which is the largest bank in the UAE. Since 1989,
He holds a Bachelor’s Degree in Commerce from the
he has also been one of the major shareholders and
University of Sindh.
Director of Alliance Insurance Co. PSC in the UAE. For five
MJSF’s mobile healthcare and surgical services programs in • 2010 - Super Floods
years he was a Director of Union National Bank PJSC, the Mr. Adil Matcheswala | Director Mr. G.M. Sikander | Director Bank of Dubai PJSC. On his return to Pakistan in 1991, he 2015 treated 9,519 patients with regard to various matters,
• 2014 - Thar Drought crisis
fourth largest bank in the UAE. Prior to joining Emirates was a member of the core team which established Prime
eye care specialist’s performed 2,761 cataract surgeries,
NBD Bank, he was the Chief Executive Officer of United Mr. Adil Matcheswala is a Non-Executive Director and also Mr. G.M Sikander is an Independent Director. He has been Commercial Bank Limited. He served Prime Bank in the • 2015 - Earthquake in Khyber Pakhtunkhwa and
and 3,307 gastro treatments, 1,158 gynecology treatments
Bank Limited – Middle East for seven years. a member of the Audit and Risk Management a career civil servant having served the Government of capacity of Senior Executive Vice President and Corporate Social Responsibility Gilgit-Baltistan provinces
and 1,418 skin treatments were conducted.
Committees. He is the CEO and founding Director of Pakistan in various capacities for 39 years. He retired as continued with Prime Bank through its acquisition by and
Mr. Nawabi is also a Director and Chief Executive Officer Speed (Private) Limited, a company incorporated in Federal Secretary of the Housing and Works Division. merger into ABN Amro Bank in Pakistan and the MJSF is committed to providing a rapid response to natural
MJSF also collaborated with Adaptive Eyewear to provide
of First Jamia Services Limited in Lahore and L & N Pakistan that is a large retailer and distributor for a subsequent acquisition of ABN Amro Bank in Pakistan by As a responsible corporate citizen strive to support CSR disaster and emergencies by mobilizing its financial
(Private) Limited in Karachi since 1991 and 2006 number of leading international brands such as Nike, Tag He has served as Assistant Commissioner and Deputy Royal Bank of Scotland. He joined JS Bank in 2012. adjustable eyeglasses to various eye care charities and
initiatives that support economic growth, social progress • Higher education resources in coordination with the human resources of JS
respectively. Both institutions provide education related Heuer and Timex. Commissioner in various districts of Punjab and organization’s in Pakistan. To ensure access and
and environmental protection. • Mainstream education including schools for Bank and related companies to provide immediate food
services. contributed significantly towards social sector He received his BBA (Hons) and MBA from Karachi distribution, free camps were set up nationwide and
children with special needs aid, shelter and healthcare services.
Mr. Matcheswala started his professional career in the development. While serving as Deputy Commissioner of University. adjustable eyeglasses were distributed as a field trial for this
JS Bank Activities
He graduated from the University of Karachi. financial services industry in 1992 and until 2002 was the Kasur he single handedly established a public school on • Vocational training promising technology.
During 2015, MJSF contributed hundreds of family size
Head of the Equity Sales Division of Jahangir Siddiqui & self-help basis which has now become a Degree College
• Specialized programs
Co. Ltd. and Bear Stearns Jahangir Siddiqui Limited. with almost 5,000 students. As part of its Green Energy Program, JS Bank has tents and 1,000 winterized blankets to the Pakistan Air
Mr. Shahab Anwar Khawaja | Director Social Enterprise & Sustainable Development
successfully converted 100 branches to use solar energy. Force which were airlifted to the earthquake affected areas.
MJSF has provided grants to leading educational (SESD)
He has previously served as the Chairman of the Board Mr. Sikander has previously served as Secretary to the
Mr. Shahab Anwar Khawaja is an Independent Director
institutions of Pakistan including Lahore University of
and Chairman of the Audit Committee of JS Global Government of the Punjab and NWFP provinces and The Bank was honoured to have arranged the JS Bank MJSF also provided relief goods for hundreds of
and also the Chairman of the Audit Committee. Mr.
Management Sciences, Karachi School for Business and The SESD program funds projects that are economically
Capital Ltd. as well as a Director of the BSJS Balanced Fund headed the departments of Services, Establishment,
Khawaja was a senior civil servant and served the Quaid-e-Azam Trophy 2015 Wheelchair Cricket earthquake-affected families through the Pakistan Army.
Ltd. Information & Tourism, Housing & Physical Planning, Leadership and the Institute of Business Administration. productive and sustainable which remove or reduce the
Government of Pakistan in various capacities for 36 years. Tournament.
Baitul Maal, Social Security and Cooperatives. He also MJSF also offers interest-free education loans to students. need for ongoing grants.
He retired as Federal Secretary to Government of
He graduated from Brown University with an A.B. in served as Principal Secretary to five Chief Ministers in the
Pakistan.
Our annual national Ramadan meal campaign was also
Economics. Punjab for a record period of almost 10 years. During 2015, the first batch of Bachelors of Arts students MJSF has a long established partnership with Acumen
held and organized through JS Bank branches to facilitate
As Secretary Privatization, he supervised the Privatization graduated from the JS Academy for the Deaf and the first (formerly known as Acumen Fund). Through this
After retirement, he serves as a Director and Chairman of the underprivileged with Iftar meals. During 2015, 89,800
Ministry and Commission. He also served as Secretary of Mr. Kalim-ur-Rahman | Director class graduated from a new program for young partnership, the foundation, to date, has contributed the
the Audit Committee on the Board of Directors of iftar meals were served. This initiative acts as a catalyst for
the Privatization Board and was responsible for professionals who are selected from across the country to equivalent of US$2,000,000 to Acumen. Since 2001,
National Fertilizer Marketing Limited. He is also a Trustee JS Bank staff to interact with underprivileged communities.
transacting the entire privatization program of public Mr. Kalim-ur-Rahman was formerly President & CEO of JS attend the European Academy of Diplomacy’s Summer Acumen has actively invested in Pakistan in building social
of the Hamza Foundation in Lahore which is a foundation We are grateful to the many JS Bank staff members and our
sector enterprises in the country. Earlier he served as Bank Limited. He is a Non-Executive Director and also a Programs held in Poland. enterprises. MJSF is also a sponsor of the Acumen Pakistan
dedicated to supporting and educating deaf and mute
Secretary Ministry of Industries and Production for three member of the Board Risk Management Committee. He generous clients who co-fund this campaign. Fellows Program, a one-year program designed to train
students. He is also a Life Trustee of the Marafi Foundation
years. He has served as CEO of the Competitiveness holds the Director’s certification from the Pakistan
in Kuwait which is engaged in the development of public Healthcare individuals leading social change initiatives dedicated to
Support Fund – a JV of Government of Pakistan & USAID. Institute of Corporate Governance as well as the Institute In recognition of JS Bank’s extensive philanthropic
health and education sectors in Gilgit Baltistan. addressing Pakistan's most critical poverty problems.
of Directors in London. initiatives, it was awarded the prestigious Social Impact
MJSF has a deep commitment to public health and
As CEO of Small and Medium Enterprises Development
Award at the 4th International Summit on Corporate Social
Authority (SMEDA), he managed all Federal Government Mr. Rahman is a seasoned banker with 50 years of Mr. Sikander received his M.A. in Political Science from supports the existing hospitals and medical facilities by: MJSF's interest-free micro-finance program in Chitral in
Punjab University and completed a Diploma in Responsibility 2015.
support initiatives to this very large sector of the experience in both international and domestic banking. Northern Pakistan for farmers that produce high quality
Development Administration from the University of
economy. During these years a number of developments He has served in various leading international and • Upgrading and adding specialist wards at existing onion seeds entered its second successful year.
Birmingham. He has also done the advanced National Partner Activities
were achieved to help SME growth especially for higher domestic banks, including Grindlays Bank PLC in the UK hospitals
Management Course from the then PASC Lahore and a
value addition through the acquisition of improved and Pakistan, Middle East Bank Ltd. in the UAE and Humanitarian Relief
• Developing healthcare facilities in rural areas
special course in Development Administration from NIPA
technology. Pakistan as General Manager of South Asia, Emirates JS Bank carries out major philanthropic activities in
Lahore for DMG officers. partnership with the Mahvash & Jahangir Siddiqui • Providing mobile health care and surgical services
Investment Bank in the UAE as General Manager and
MJSF has a strong focus on humanitarian relief. Its activities
in difficult-to-access areas
Mr. Khawaja’s last engagement was in the private sector Askari Commercial Bank in Pakistan as President and CEO. Foundation (MJSF). We support MJSF with both financial
focus on immediate relief in disasters as well as long-term
when he headed Fertilizer Manufactures of Pakistan Mr. Khalid Imran | President and CEO and human resources. • Running medical camps in rural areas
rehabilitation. The Foundation has contributed with a
Advisory Council as its Executive Director from June 2012 He did his Senior Cambridge from Burn Hall School and
significant humanitarian response in the following crises:
to June 2015. B.Sc. (Hons) from Government College, Lahore. He had a Mr. Khalid Imran is the President and CEO of JS Bank The following is an overview of MJSF’s activities: MJSF is linked with numerous projects and organizations in
first class academic career throughout, and his name is Limited. He has over 40 years of diversified banking
the healthcare sector including Sindh Institute of Urology
He holds a Master of Science degree in Chemistry and inscribed on the College Roll of Honor. He is a Fellow of experience in Pakistani and foreign banks. He started his • 2005 - Earthquake in Azad Jammu & Kashmir (AJK)
Education and Transplantation, Karachi National Hospital, National
holds Post Graduate Diploma in Development the Institute of Bankers in Pakistan as well as the Institute career with BCCI, where he worked for 16 years in and Khyber Pakhtunkhwa Province
Institute of Cardiovascular Diseases and National Institute
Administration from Birmingham University, UK. of Chartered Secretaries and Managers, Pakistan. different capacities. He was Joint General Manager of • 2008 - Swat Conflict and related Internally
MJSF’s educational programs focus on grant making to: of Child Health.
BCCI Middle East Region. He then worked for Commercial Displaced Persons crisis
05 JS Bank / 2015 Annual Report
Mr. Jahangir Siddiqui | Chairman Mr. Mazharul Haq Siddiqui | Director
Mr. Jahangir Siddiqui is one of Pakistan's leading Mr. Mazharul Haq Siddiqui is a Non- Executive Director and
entrepreneurs. He established JS Group in 1970 and grew it also a member of Human Resource & Remuneration
to be one of Pakistan's largest conglomerates. He retired as Committee. He retired from the Pakistan Civil Service after a
CEO of JS Group in 1999 and has since advised and chaired distinguished career as a civil servant and educationist. He
the boards of some key group companies. While he was has held many senior positions with the Government of
operationally leading JS Group, he was responsible for Pakistan and in the corporate sector, including Chairman of
establishing joint ventures with leading global firms Hum Network Limited and National Insurance Corporation
including in investment banking with Bear Stearns & Co. Inc. Limited.
and IFC, in asset management with Invesco plc and IFC, in
health insurance with Allianz AG and in Islamic banking Mr. Siddiqui joined the Income Tax Department in 1957
with Dubai Bank PJSC. through the Central Superior Services competitive
examination and served in various capacities including as
He has been appointed by the Government of Pakistan as a the Commissioner of Income Tax. He served the Provincial
member of the boards of a number of Government bodies Government of Sindh as Secretary Education, Finance and
including the Privatization Commission, Economic Advisory Services and General Administration Departments. He has
Board and the Exchange Reforms Committee. As a member served the Federal Government as Secretary Establishment,
of the Exchange Reforms Committee he was crucial in Education, Management Services, Economic Affairs &
developing the plan through which Pakistan’s capital Statistics and Youth Affairs Departments.
markets were opened up to foreign investors in the early
1990s. Mr. Siddiqui was Vice Chancellor of Sindh University for
three terms of four years each. In recognition of his services
Mr. Siddiqui served as President of the Karachi Stock to education, administration and management he was
Exchange for two terms. During his terms he was able to awarded ‘Sitara-i-Imtiaz’ by the President of Pakistan in 2005.
introduce key initiatives including the establishment of the
Central Depository Company of Pakistan to make securities He holds a Master’s Degree in Defense & Strategic Studies
settlements scrip-less and the modernization of the from Quaid-e-Azam University, Islamabad.
exchange’s trading systems.
Mr. Ashraf Nawabi | Director
He dedicates a significant amount of time to philanthropic
activities. In addition to his own substantial charitable grant
Mr. Ashraf Nawabi is an Independent Director and also the
making through his family foundations, he works with a
member of Risk Management Committee of the Bank.
number of other philanthropic organizations whose causes
he supports. As Chairman of the Board of Trustees of the
Mr. Ashraf Nawabi is a senior banker with over 40 years of
Endowment Fund Trust for Preservation of the Heritage of
experience. He was a founder of Prime Commercial Bank
Sindh, he is responsible for the preservation of heritage and
Limited and remained on its Board of Directors for three
culture in Sindh province.
years. Since 1990, he has been the Advisor to Emirates NBD
Bank PJSC which is the largest bank in the UAE. Since 1989,
He holds a Bachelor’s Degree in Commerce from the
he has also been one of the major shareholders and
University of Sindh.
Director of Alliance Insurance Co. PSC in the UAE. For five
MJSF’s mobile healthcare and surgical services programs in • 2010 - Super Floods
years he was a Director of Union National Bank PJSC, the Mr. Adil Matcheswala | Director Mr. G.M. Sikander | Director Bank of Dubai PJSC. On his return to Pakistan in 1991, he 2015 treated 9,519 patients with regard to various matters,
• 2014 - Thar Drought crisis
fourth largest bank in the UAE. Prior to joining Emirates was a member of the core team which established Prime
eye care specialist’s performed 2,761 cataract surgeries,
NBD Bank, he was the Chief Executive Officer of United Mr. Adil Matcheswala is a Non-Executive Director and also Mr. G.M Sikander is an Independent Director. He has been Commercial Bank Limited. He served Prime Bank in the • 2015 - Earthquake in Khyber Pakhtunkhwa and
and 3,307 gastro treatments, 1,158 gynecology treatments
Bank Limited – Middle East for seven years. a member of the Audit and Risk Management a career civil servant having served the Government of capacity of Senior Executive Vice President and Gilgit-Baltistan provinces
and 1,418 skin treatments were conducted.
Committees. He is the CEO and founding Director of Pakistan in various capacities for 39 years. He retired as continued with Prime Bank through its acquisition by and
Mr. Nawabi is also a Director and Chief Executive Officer Speed (Private) Limited, a company incorporated in Federal Secretary of the Housing and Works Division. merger into ABN Amro Bank in Pakistan and the MJSF is committed to providing a rapid response to natural
MJSF also collaborated with Adaptive Eyewear to provide
of First Jamia Services Limited in Lahore and L & N Pakistan that is a large retailer and distributor for a subsequent acquisition of ABN Amro Bank in Pakistan by As a responsible corporate citizen strive to support CSR disaster and emergencies by mobilizing its financial
(Private) Limited in Karachi since 1991 and 2006 number of leading international brands such as Nike, Tag He has served as Assistant Commissioner and Deputy Royal Bank of Scotland. He joined JS Bank in 2012. adjustable eyeglasses to various eye care charities and
initiatives that support economic growth, social progress • Higher education resources in coordination with the human resources of JS
respectively. Both institutions provide education related Heuer and Timex. Commissioner in various districts of Punjab and organization’s in Pakistan. To ensure access and
and environmental protection. • Mainstream education including schools for Bank and related companies to provide immediate food
services. contributed significantly towards social sector He received his BBA (Hons) and MBA from Karachi distribution, free camps were set up nationwide and
children with special needs aid, shelter and healthcare services.
Mr. Matcheswala started his professional career in the development. While serving as Deputy Commissioner of University. adjustable eyeglasses were distributed as a field trial for this
JS Bank Activities
He graduated from the University of Karachi. financial services industry in 1992 and until 2002 was the Kasur he single handedly established a public school on • Vocational training promising technology.
During 2015, MJSF contributed hundreds of family size
Head of the Equity Sales Division of Jahangir Siddiqui & self-help basis which has now become a Degree College
• Specialized programs
Co. Ltd. and Bear Stearns Jahangir Siddiqui Limited. with almost 5,000 students. As part of its Green Energy Program, JS Bank has tents and 1,000 winterized blankets to the Pakistan Air
Mr. Shahab Anwar Khawaja | Director Social Enterprise & Sustainable Development
successfully converted 100 branches to use solar energy. Force which were airlifted to the earthquake affected areas.
MJSF has provided grants to leading educational (SESD)
He has previously served as the Chairman of the Board Mr. Sikander has previously served as Secretary to the
Mr. Shahab Anwar Khawaja is an Independent Director
institutions of Pakistan including Lahore University of
and Chairman of the Audit Committee of JS Global Government of the Punjab and NWFP provinces and The Bank was honoured to have arranged the JS Bank MJSF also provided relief goods for hundreds of
and also the Chairman of the Audit Committee. Mr.
Management Sciences, Karachi School for Business and The SESD program funds projects that are economically
Capital Ltd. as well as a Director of the BSJS Balanced Fund headed the departments of Services, Establishment,
Khawaja was a senior civil servant and served the Quaid-e-Azam Trophy 2015 Wheelchair Cricket earthquake-affected families through the Pakistan Army.
Ltd. Information & Tourism, Housing & Physical Planning, Leadership and the Institute of Business Administration. productive and sustainable which remove or reduce the
Government of Pakistan in various capacities for 36 years. Tournament.
Baitul Maal, Social Security and Cooperatives. He also MJSF also offers interest-free education loans to students. need for ongoing grants.
He retired as Federal Secretary to Government of
He graduated from Brown University with an A.B. in served as Principal Secretary to five Chief Ministers in the
Pakistan.
Our annual national Ramadan meal campaign was also
Economics. Punjab for a record period of almost 10 years. During 2015, the first batch of Bachelors of Arts students MJSF has a long established partnership with Acumen
held and organized through JS Bank branches to facilitate
As Secretary Privatization, he supervised the Privatization graduated from the JS Academy for the Deaf and the first (formerly known as Acumen Fund). Through this
After retirement, he serves as a Director and Chairman of the underprivileged with Iftar meals. During 2015, 89,800
Ministry and Commission. He also served as Secretary of Mr. Kalim-ur-Rahman | Director class graduated from a new program for young partnership, the foundation, to date, has contributed the
the Audit Committee on the Board of Directors of iftar meals were served. This initiative acts as a catalyst for
the Privatization Board and was responsible for professionals who are selected from across the country to equivalent of US$2,000,000 to Acumen. Since 2001,
National Fertilizer Marketing Limited. He is also a Trustee JS Bank staff to interact with underprivileged communities.
transacting the entire privatization program of public Mr. Kalim-ur-Rahman was formerly President & CEO of JS attend the European Academy of Diplomacy’s Summer Acumen has actively invested in Pakistan in building social
of the Hamza Foundation in Lahore which is a foundation We are grateful to the many JS Bank staff members and our
sector enterprises in the country. Earlier he served as Bank Limited. He is a Non-Executive Director and also a Programs held in Poland. enterprises. MJSF is also a sponsor of the Acumen Pakistan
dedicated to supporting and educating deaf and mute
Secretary Ministry of Industries and Production for three member of the Board Risk Management Committee. He generous clients who co-fund this campaign. Fellows Program, a one-year program designed to train
students. He is also a Life Trustee of the Marafi Foundation
years. He has served as CEO of the Competitiveness holds the Director’s certification from the Pakistan
in Kuwait which is engaged in the development of public Healthcare individuals leading social change initiatives dedicated to
Support Fund – a JV of Government of Pakistan & USAID. Institute of Corporate Governance as well as the Institute In recognition of JS Bank’s extensive philanthropic
health and education sectors in Gilgit Baltistan. addressing Pakistan's most critical poverty problems.
of Directors in London. initiatives, it was awarded the prestigious Social Impact
MJSF has a deep commitment to public health and
As CEO of Small and Medium Enterprises Development
Award at the 4th International Summit on Corporate Social
Authority (SMEDA), he managed all Federal Government Mr. Rahman is a seasoned banker with 50 years of Mr. Sikander received his M.A. in Political Science from supports the existing hospitals and medical facilities by: MJSF's interest-free micro-finance program in Chitral in
Punjab University and completed a Diploma in Responsibility 2015.
support initiatives to this very large sector of the experience in both international and domestic banking. Northern Pakistan for farmers that produce high quality
Development Administration from the University of
economy. During these years a number of developments He has served in various leading international and • Upgrading and adding specialist wards at existing onion seeds entered its second successful year.
Birmingham. He has also done the advanced National Partner Activities
were achieved to help SME growth especially for higher domestic banks, including Grindlays Bank PLC in the UK hospitals
Management Course from the then PASC Lahore and a
value addition through the acquisition of improved and Pakistan, Middle East Bank Ltd. in the UAE and Humanitarian Relief
• Developing healthcare facilities in rural areas
special course in Development Administration from NIPA
technology. Pakistan as General Manager of South Asia, Emirates JS Bank carries out major philanthropic activities in
Lahore for DMG officers. partnership with the Mahvash & Jahangir Siddiqui • Providing mobile health care and surgical services
Investment Bank in the UAE as General Manager and
MJSF has a strong focus on humanitarian relief. Its activities
in difficult-to-access areas
Mr. Khawaja’s last engagement was in the private sector Askari Commercial Bank in Pakistan as President and CEO. Foundation (MJSF). We support MJSF with both financial
focus on immediate relief in disasters as well as long-term
when he headed Fertilizer Manufactures of Pakistan Mr. Khalid Imran | President and CEO and human resources. • Running medical camps in rural areas
rehabilitation. The Foundation has contributed with a
Advisory Council as its Executive Director from June 2012 He did his Senior Cambridge from Burn Hall School and
significant humanitarian response in the following crises:
to June 2015. B.Sc. (Hons) from Government College, Lahore. He had a Mr. Khalid Imran is the President and CEO of JS Bank The following is an overview of MJSF’s activities: MJSF is linked with numerous projects and organizations in
first class academic career throughout, and his name is Limited. He has over 40 years of diversified banking
the healthcare sector including Sindh Institute of Urology
He holds a Master of Science degree in Chemistry and inscribed on the College Roll of Honor. He is a Fellow of experience in Pakistani and foreign banks. He started his • 2005 - Earthquake in Azad Jammu & Kashmir (AJK)
Education and Transplantation, Karachi National Hospital, National
holds Post Graduate Diploma in Development the Institute of Bankers in Pakistan as well as the Institute career with BCCI, where he worked for 16 years in and Khyber Pakhtunkhwa Province
Institute of Cardiovascular Diseases and National Institute
Administration from Birmingham University, UK. of Chartered Secretaries and Managers, Pakistan. different capacities. He was Joint General Manager of • 2008 - Swat Conflict and related Internally
MJSF’s educational programs focus on grant making to: of Child Health.
BCCI Middle East Region. He then worked for Commercial Displaced Persons crisis
JS Bank / 2015 Annual Report 06