Message from the CEO CEO’s Message 1 st Anniversary Overview Vision, Mission and Core Values Editor’s Note Operations Department Branchless Banking : An Overview Risk Management Workplace Mannerism Medal of Honor 2012 Interview with the CEO IT Success Story Waseela Branch Network Expansion 2013 Best Sellers Childhood Memoirs Picture Gallery In this Issue. . . 1 st Anniversary Overview 13 Branches, 6 Service Centers Total Receivables Rs. 52 Million Total Deposit Rs. 178 Million 1460 Active Clients 36,656 M-Wallets Number of Utility Bills Payments 2,431,378 Number of P-2-P Fund Transfers 213,281 July, 2013 Volume 1 Issue 1 Dear Colleagues, It’s a great pleasure and privilege to see the development of Waseela Bank at such a rapid pace and with such high standards of quality. As you all know State Bank of Pakistan gave us permis- sion in April to start operations and we did so by opening Islamabad Branch on May, 2nd 2012. The hard work and dedication of everyone enabled us to set out on this journey with Mobilink whose leadership position in the market helped give a distinct positioning. Let me take this opportunity to remind you of the pillars that uphold the structure of the banking business. All bankers, micro or macro, are custodians of public money and must have a strong sense of responsibility in the money entrusted to them by the general public and shareholders. Never forget that trust and integrity are of the utmost importance in this business. Always keep in mind customer focus and build upon customer service as they are central to our business. After just more than a year we have processed, cross checked and opened approx. 23,000 agent accounts which is a big achievement. We are fully committed to providing the best possible regu- latory and operational support to our sister concern Mobilink Financial Services for making Branchless Banking business such a huge success. Several of our services are coming along quite well and many others are in the pipeline. All of our departments put in considerable amount of effort in making the vision of Waseela Bank a success. We look forward to a bright and prosperous future where we will try to establish ourselves as a leading microfinance institute with the highest standards of excellence and healthy returns on equity. Our Vision ‘To become a market leader in branchless banking, mobile banking and micro financial services; offering simple, innovative and value added products and services to the general public.’ Our Mission ‘To help in improving access to finance, provide exceptional value to our clients and expand economic opportunities for peo- ple of Pakistan. We will also provide exciting and challenging career opportunities to our employees and create and enhance value for our shareholders.’ Core Values Innovation Equal Opportunity Equitable Growth Integrity Ethics Editor’s Note Dear Colleagues, Finally, summarized display of Waseela’s performance, its ideology & its teamwork; is in front of you. It indeed reminds me of the day when Waseela was inaugurated. We were very excited & aspiring to be a potent Microfinance entity in the country contrib- uting meaningfully in the lives of our customers. This has been possible only by the vision and guidelines from Waseela leader- ship, sheer hard work & commitment of the professional teams and trust of our customers. I am thankful to all departments who despite extremely committed schedules at their end, found time to share their business analysis & reports with us. I hope you find this newsletter interesting & informative to read. Samiha Ali Zahid Editor W ASEELA Insight
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Message from the CEO CEO’s Message
1st Anniversary Overview
Vision, Mission and Core Values
Editor’s Note
Operations Department
Branchless Banking : An Overview
Risk Management
Workplace Mannerism
Medal of Honor 2012
Interview with the CEO
IT Success Story
Waseela Branch Network Expansion 2013
Best Sellers
Childhood Memoirs
Picture Gallery
In this Issue. . .
1st
Anniversary Overview
13 Branches, 6 Service Centers
Total Receivables Rs. 52 Million
Total Deposit Rs. 178 Million
1460 Active Clients
36,656 M-Wallets
Number of Utility Bills Payments
2,431,378
Number of P-2-P Fund Transfers
213,281
July, 2013
Volume 1 Issue 1
Dear Colleagues,
It’s a great pleasure and privilege to see the development of Waseela Bank at such a rapid pace
and with such high standards of quality. As you all know State Bank of Pakistan gave us permis-
sion in April to start operations and we did so by opening Islamabad Branch on May, 2nd 2012.
The hard work and dedication of everyone enabled us to set out on this journey with Mobilink
whose leadership position in the market helped give a distinct positioning.
Let me take this opportunity to remind you of the pillars that uphold the structure of the banking
business. All bankers, micro or macro, are custodians of public money and must have a strong
sense of responsibility in the money entrusted to them by the general public and shareholders.
Never forget that trust and integrity are of the utmost importance in this business. Always keep in
mind customer focus and build upon customer service as they are central to our business.
After just more than a year we have processed, cross checked and opened approx. 23,000 agent
accounts which is a big achievement. We are fully committed to providing the best possible regu-
latory and operational support to our sister concern Mobilink Financial Services for making
Branchless Banking business such a huge success. Several of our services are coming along
quite well and many others are in the pipeline. All of our departments put in considerable amount
of effort in making the vision of Waseela Bank a success.
We look forward to a bright and prosperous future where we will try to establish ourselves as a
leading microfinance institute with the highest standards of excellence and healthy returns on
equity.
Our Vision
‘To become a market leader in branchless banking, mobile
banking and micro financial services; offering simple, innovative
and value added products and services to the general public.’
Our Mission
‘To help in improving access to finance, provide exceptional
value to our clients and expand economic opportunities for peo-
ple of Pakistan. We will also provide exciting and challenging
career opportunities to our employees and create and enhance
value for our shareholders.’
Core Values
Innovation
Equal Opportunity
Equitable Growth
Integrity
Ethics
Editor’s Note
Dear Colleagues,
Finally, summarized display of Waseela’s performance, its ideology & its teamwork; is in front of you. It indeed reminds me of the
day when Waseela was inaugurated. We were very excited & aspiring to be a potent Microfinance entity in the country contrib-
uting meaningfully in the lives of our customers. This has been possible only by the vision and guidelines from Waseela leader-
ship, sheer hard work & commitment of the professional teams and trust of our customers. I am thankful to all departments who
despite extremely committed schedules at their end, found time to share their business analysis & reports with us. I hope you find
this newsletter interesting & informative to read.
Samiha Ali Zahid Editor
WASEELA
Insight
Branchless Banking: An Overview By Syed Hassan Ali
The history of branchless banking is no more than four-five
years old in Pakistan. The way this financial innovation has
been winning the hearts and minds of banking service providers
and consumers, the market has witnessed a new wave of com-
petition and in the year 2012 Pakistan saw tremendous growth
in branchless banking sector. Two telecom operators, Mobilink
partnered with Waseela Microfinance Bank launched Mobicash
whereas Zong and Askari Bank joined hands and launched
Timepay. HBL launched HBL Express in 2nd Quarter of 2013.
A number of other telecom operators and banks are in the pro-
cess of launching their branchless banking services in 2013.
In a country where only 12% of the population has access to
formal financial services, the domestic market has become high-
ly aware of branchless banking products being offered since the
launch of Easypaisa in 2009. Over 120 million transactions
were conducted with a total value of over Rs. 492 billion from
January to December 2012. In absolute terms, the value of
transactions and the number of transactions have been growing
and this growth trend will continue in 2013. The average number
of transactions conducted in the Q3 of 2012 was a little under
400,000 transactions per day according to the data provided by
the State Bank of Pakistan.
Page 2 Waseela Ins ight
Operations Department By Syed Shahab Hussain
Operations Department provides support through robust
development of policies, quality assurance, delivering