Briefs

IBA launches book

By our correspondent

KARACHI: IBA Centre for Excellence in Islamic Finance (CEIF) in collaboration with Pak-Qatar Family Takaful Limited has recently launched a text book titled “Understanding Takaful: Theory and Practise”, a statement said on Thursday.

The book provides a comprehensive account of Takaful theory and practice, where the concepts are explained with real life examples and exhibits from Pak Qatar to aid in reader learning and reflection. 

The book will prove to be a useful resource for students and entry level employees in Takaful industries, operating nationally and internationally. The three centres are playing an important role in the development of Islamic finance education, research, and best industry practices.

Bank Alfalah, MasterCard sign deal

By our correspondent

KARACHI: Bank Alfalah has signed a strategic deal with MasterCard to capitalise on its rewards system in order to develop a first-of-its-kind enterprise-level loyalty and rewards program in Pakistan, a statement said on Thursday.

MasterCard’s reward system provides a cutting edge experience through a robust, secure and flexible rewards processing platform, it added. Atif Bajwa, president of Bank Alfalah, and Khalid Elgibali, division president, Middle East and North Africa, at MasterCard, signed the deal.

The mutual agreement brings in MasterCard’s global expertise in the rewards space and Bank Alfalah’s exclusive market position as an innovative provider of customer-centric solutions, and aims at help engage customers in exciting ways in the enterprise loyalty program. 

‘No efforts to resolve traders’ issues’

By our correspondent

LAHORE: No efforts were being made at the federation level for the last two years to resolve the issues of business community at any fora. This was stated by Mian Anjum Nisar, senior vice presidential candidate from the Pakistan Business Group and Businessmen Panel (Alliance).

He was addressing a large gathering of Punjab-based Executive Committee and general body members of the FPCCI, at a reception meeting held last week. Reduction in tax rates is a longstanding demand of the business community, but no serious efforts were made at the federation level.

“We believe that the expansion in tax base would not be possible without removal of lengthy and cumbersome procedures that too with the consultation of the trading community, he added.

The platform of FPCCI is the best forum to tackle and get resolved the issues of the business community, but the current leaders and office-bearers of the FPCCI are busy on the policy of "Yes sir”.

Presidential candidate of alliance Abdur Raheem Jano said the business community faced a number of problems during the last two years, but rather resolving the issues, the business community was divided by the so-called leaders of trade and industry. “We enjoy full faith and trust of the business community since decades, which will play a decisive role in the upcoming elections,” Jano added.

‘Govt focusing on halal food exports’

By our correspondent

LAHORE: Federal Secretary for the Ministry of National Food Security and Research Muhammad Abid Javed has said that special attention is being given to the halal food sector that can give a quantum jump to exports.

Speaking at the Lahore Chamber of Commerce and Industry (LCCI) on Thursday, he said Rice Research Institute is continuously working in to introduce new varieties and recently two new varieties have been introduced that would help enhance rice exports.

The import of tomatoes from India has been stopped, as the country has enough production to meet the domestic demand, he added. LCCI President Abdul Basit said that Pakistan is an agrarian economy, but has not been able to draw the potential benefits of this sector.