MR. ZAFAR M. SHAIKH
PRESIDENT AND CHIEF EXECUTIVE OFFICER
He is a renowned professional having a successful career spanning over three decades of international and domestic banking experience with primary emphasis on treasury and fund management covering both conventional and Islamic banking. Throughout his career, he has served for almost 6 years as Director General Central Directorate of National Savings with additional charge of DG Debt in Ministry of Finance and successfully managed and enhanced cost effective total portfolio from PKR 1030 billion to over PKR 2500 billion (equivalent USD 24 billion) in 5 years. He has also been Additional Director General, Debt Management, Ministry of Finance, for two years during which he effectively managed Domestic/External Debt and played a pivotal role in issuance of Sukuk and Commercial Bonds in International Markets. Developed domestic and international investor base for selling short and long dated government securities. He also introduced, for the first time in Pakistan, 30-year government bond. Presented a comprehensive strategy for prudent hedging on exchange as well as interest rates on substantial external non-USD loan portfolio of G.O.P. totaling approximately USD 38 billion. He also served as Advisor on Forex and Debt Management / Head of Treasury to the Governor State Bank of Pakistan for Four Years. During the assignment with the State Bank of Pakistan, managed to almost achieve the ideal trinity of low interest rates, stable exchange rates and comfortable foreign exchange reserves. Achieved milestone in historic build up of Foreign Exchange Reserves / stability in Exchange Rate. Played a key role in the establishment of Reserve management and Risk management departments at the central bank. Introduced and developed KIBOR as prudent benchmark in the banking history of Pakistan.
Before joining Government of Pakistan, Mr. Zafar has also served various financial institutions in Dubai, London and New York for almost 18 years in senior capacities/treasurer of banks.
MR. SHAKEEL AHMED
Chief Financial Officer
Shakeel Ahmed is currently working as Chief Financial Officer of Security Investment Bank. He has rich experience of more than 8 years in financial sector. He started his career in the organization as Manager Finance and MIS for 8 years, Before joining Security Investment Bank Limited he worked as Manager Finance in Habib Knit Fabrics (Pvt) Ltd. (Habib Group) for 9 years (Year 1999 to Year 2008). He has completed audit trainee under the bye laws of Institute of Chartered Accountants of Pakistan, Karachi (March-1992 to March-1996). He is MBA-Finance from HEC recognize university.
Corporate Advisory Services
Certificate of Deposits
CERTIFICATE OF Deposits (For Individuals Only)
- 1 Month
- 3 Months
- 6 Months
- 1 Year
- Expected Rate
There is no limit as to the maximum amount of investment. The minimum amount and maturity period to issue COI is Rs. 50,000/- and one month respectively.
Delivery of Certificates
The COI will be issued only after receipt of funds in case of cash payment and in the case of cheque, pay order or demand draft, after realization of proceeds.
Zakat Deductible at Source
Zakat will be deducted as per Zakat and Ushr Ordinance, 1980.
Tax shall be deducted at source from payment of profits as required by the Income Tax Ordinance, 2001. At present tax is chargeable at the rate of ten percent (10%) of the amount of profit being paid.
" The Certificate of Deposits of "Non-Banking Finance Companies are subject to various risks including credit risk and liquidity risk. The prospective customers are advised to conduct their own due diligence prior to investing in Certificate of Deposits of a Non-Banking Finance Company."