The State Bank of Pakistan has declared JS Bank as the number one Primary Dealer of Government Securities for the year 2010-2012

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Karachi: We are pleased to announce that JS Bank Limited (JS Bank) has signed a Sale and Purchase Agreement with HSBC Bank Middle East Limited (HMBE) for the acquisition of HSBC – Pakistan operations.

JS Bank is a majority owned subsidiary of Jahangir Siddiqui & Co. Ltd. and was formed after the merger and amalgamation of Jahangir Siddiqui Investment Bank Limited (formerly Citicorp Investment Bank Limited) and American Express Bank Limited – Pakistan operations. JS Bank commenced operations in Pakistan as a scheduled commercial bank on December 31, 2006 and currently operates 153 branches in 82 cities with a total asset base of PKR 64.53 billion as of 30 June 2012.

JS Bank is rated A+ (Single A Plus) by Pakistan Credit Rating Agency (PACRA) and is listed on the Karachi Stock Exchange.

In 2011 and 2012, JS Bank has been ranked as the No 1 Primary Dealer for Government Securities by the State Bank of Pakistan.

This acquisition will act as a catalyst in achieving JS Bank’s growth strategy to position the bank as one of the key players in the financial sector with the introduction of premium banking and credit cards suite.

As at 30 June 2012, HSBC’s Pakistan operations comprised a network of 10 branches and total asset base of PKR 59.07 billion.

The transaction is subject to the approval of State Bank of Pakistan and compliance with all other applicable laws, rules and regulations.

In regard to any related queries, please contact:

Mr. Imran Shaikh

Head of Marketing

JS Bank Limited

Cell: +92-301-8258876

Office: +92-21-35361717

Email: imran.shaikh@jsbl.com

The Mahvash and Jahangir Siddiqui Foundation representatives met with the students on their return from the NUS Summer Program on Economic and Enterprise Development. These eighteen students were selected after extensive interview sessions from 58 universities nationwide.

This was a two week summer program being held at the National University of Singapore (NUS) with the students from Pakistan being the 2nd largest group being represented. This year’s program hosted a large multicultural and diverse community of 65 undergraduate students from 13 countries, providing an excellent opportunity for participants to learn about Singapore: how the smallest nation in Southeast Asia has progressed into a modern city-state and has grown into a thriving centre of commerce and industry. These students also get an opportunity to learn about creative and innovative ideas to start their own business in future.

The students were also hosted by the High Commissioner of Pakistan in Singapore; Mr Syed Hasan Javed stated that Pakistan will be the “game changer success story” in the 21st Century. Pakistan is moving fast towards a knowledge economy. The event was attended by the leading Pakistani businessmen and Professionals resident in Singapore to support the initiative undertaken by Mahvash & Jahangir Siddiqui Foundation. The Pakistani students excelled in their work and were highly appreciated by National University of Singapore Faculty and other participants for their valuable participation to enhance the overall learning among all.

This is the 5th year Mahvash and Jahangir Siddiqui Foundation and Sajjad Foundation (Singapore) have been running the NUS Summer program on Economic and Enterprise Development as a continuous effort in making investments into various education initiatives in Pakistan. These Foundations annually sponsor the entire cost of the Pakistani students at this program as their endeavor to invest in education and to initiate and encourage entrepreneurship in the youth of today.

The Mahvash and Jahangir Siddiqui Foundation is a non-profit organization that has been working towards healthcare, education and social enterprise through sustainable development to underprivileged members of society with a special focus on women, minorities, children and disabled individuals. Foundation goal is to promote economic development and to enhance the dignity and quality of life of individuals, families and communities by eliminating barriers to opportunity and helping people in need reach their fullest potential. Mahvash and Jahangir Siddiqui Foundation also works nationally to provide immediate humanitarian relief during periods of crisis by delivering medical services, clean water, nutrition and housing to individuals displaced by natural calamities.

The Mahvash and Jahangir Siddiqui Foundation representatives met with the students prior to their departure for the Global and Public Heath medical program at Weill Cornell Medical College, Qatar. These students were selected after extensive interview sessions from universities nationwide.

This is a four weeks medical program being held at the Weill Cornell Medical College, Qatar. This program hosts undergraduate students from universities in various parts of the world and is an excellent opportunity for participants to learn about the latest research being undertaken in the field of improving Global and Public health, success of the Qatar health policies and how this nation in the Middle East transformed itself into a modern city-state with excellent health facilities to cater to the needs of its citizens.

These students will also get an opportunity to learn about the latest research efforts to integrate life style medicine with environmental, genetic and related factors to address the health care needs of various communities in the country and the region with a focus on a preventing the occurrence of commonly occurring diseases to improve the overall quality of life.

This is the first year of this program at Weill Cornell Medical College, Qatar and Mahvash and Jahangir Siddiqui Foundation is pleased to have formed this affiliation as a continuous effort in making investments into various education initiatives in Pakistan. The foundation annually sponsors such initiatives to support and improve the well being of the Pakistani citizens.

The Mahvash and Jahangir Siddiqui Foundation is a non-profit organization that has been working towards healthcare, education and social enterprise through sustainable development to underprivileged members of society with a special focus on women, minorities, children and disabled individuals. Foundation goal is to promote economic development and to enhance the dignity and quality of life of individuals, families and communities by eliminating barriers to opportunity and helping people in need reach their fullest potential. Mahvash and Jahangir Siddiqui Foundation also works nationally to provide immediate humanitarian relief during periods of crisis by delivering medical services, clean water, nutrition and housing to individuals displaced by natural calamities.

The State Bank of Pakistan recently, 2nd year in a row has declared JS Bank as the Number 1 Primary Dealer of Government Securities for the year 2011-12. JS Bank was also the Number 1 Primary Dealer of Government Securities for the year 2010-2011. JS Bank is one of only 11 State Bank of Pakistan appointed Primary Dealers authorized to participate in the auctions of Government of Pakistan securities comprising of Treasury Bills (T-Bills) and Pakistan Investment Bonds (PIBs).

JS Bank has outperformed all other Primary Dealers during what has been an extremely challenging year for Pakistani banking is testament to the strategic vision of the management as well as the hard work of the Fixed Income Team in Treasury. The listing displays the growing confidence that customers have in the bank’s ability to better handle their fixed income transactions and sends a clear signal to the market that JS Bank has emerged as a key player with an agenda of performance driven growth and service excellence in Pakistani banking.

JS Bank is counted amongst the most performance driven banks on Pakistan’s banking landscape. The Bank now has an online network of 150 branches in 80 cities across Pakistan. In its unrelenting effort to provide high quality products and services, JS Bank continues to pursue the path of innovation and excellence.

The Mahvash and Jahangir Siddiqui Foundation representatives met with the students prior to their NUS Summer Program on Economic and Enterprise Development. These eighteen students were selected after extensive interview sessions from 58 universities nationwide.

This is a two weeks summer program being held at the National University of Singapore (NUS).This program hosts undergraduate students from universities in various parts of the world and is an excellent opportunity for participants to learn about Singapore: how the smallest nation in Southeast Asia has progressed into a modern city-state and has grown into a thriving centre of commerce and industry. These students will also get an opportunity to learn about creative and innovative ideas to start their own business in future.

This is the 5th year Mahvash and Jahangir Siddiqui Foundation and Sajjad Foundation (Singapore) have been running the NUS Summer program on Economic and Enterprise Development as a continuous effort in making investments into various education initiatives in Pakistan. These Foundations annually sponsor the entire cost of the Pakistani students at this program as their endeavor to invest in education and to initiate and encourage entrepreneurship in the youth of today.

The Mahvash and Jahangir Siddiqui Foundation is a non-profit organization that has been working towards healthcare, education and social enterprise through sustainable development to underprivileged members of society with a special focus on women, minorities, children and disabled individuals. Foundation goal is to promote economic development and to enhance the dignity and quality of life of individuals, families and communities by eliminating barriers to opportunity and helping people in need reach their fullest potential. Mahvash and Jahangir Siddiqui Foundation also works nationally to provide immediate humanitarian relief during periods of crisis by delivering medical services, clean water, nutrition and housing to individuals displaced by natural calamities.

The selected participants are from Institute of Business Administration Karachi (IBA), Lahore University of Management Sciences (LUMS), Institute of Business Management Karachi (IoBM), Shaheed Zulfiqar Ali Bhutto Institute of Science and Technology Karachi (SZABIST), Karachi University (KU), National University of Science and Technology- School of Electrical Engineering and Computer Science Islamabad (NUST-SEECS), National University of Sciences and Technology Business School Islamabad (NUST-BS), National University of Computer and Emerging Sciences (NUCES/FAST-Lahore), Muhammad Ali Jinnah University Islamabad (MAJU), Institute of Management Sciences Peshawar (IMS), Ghulam Ishaq Khan Institute of Engineering Sciences and Technology Topi (GIKI), Pakistan Air Force- Karachi Institute of Economics and Technology Karachi (PAK-KIET), and National College of Arts Lahore (NCA).

The Pakistan Credit Rating Agency (PACRA) has upgraded the long-term entity rating of JS Bank Limited (JSBL) to ‘A+’ (Single A Plus). These ratings denote a low expectation of credit risk, while the capacity for timely payment of financial commitments is considered strong. It also reflects the bank’s sound financial profile emanating from improving profitability, strong liquidity and supporting capital adequacy. The bank’s strengthening franchise owing to its aggressively increasing branch network, supported by a sound technological platform was also among some of the key considerations along with its expanding asset base, which is currently being managed comfortably. With the transfer of relatively established asset management and brokerage businesses to JS bank – as subsidiaries – It now possesses significant potential to synergize and capitalize on in these domains. The ratings draw comfort from its close association with the ever strengthening JS Group.

JS Bank is considered amongst the fastest growing banks within the Pakistan’s banking landscape with the support of its vast experienced management. The Bank now has an online network of 148 branches and expanding in 80 cities across Pakistan and it has three main business units; Retail and Consumer banking, Corporate and Commercial banking and Treasury and Investment banking. In its unrelenting effort to provide high quality products and services, JS Bank continues to pursue the path of innovation and excellence.

Mr & Mrs Jahangir Siddiqui unveiled the plaque for the new Jahangir Siddiqui Auditorium to be constructed at IBA Karachi Campus. The ceremony took place at IBA city campus and to mark this auspicious occasion, Mr and Mrs Jahangir Siddiqui (Chairman JS Bank), Dr. Ishrat Hussain (Dean IBA and former Governor of State Bank of Pakistan), Mr Ali J Siddiqui (CEO, Mahvash & Jahangir Siddiqui Foundation), Mr Ali Raza Siddiqui (Director, Bank Islami Pakistan) along with their spouses, senior representatives of the Mahvash & Jahangir Siddiqui Foundation and IBA were also present and commented regarding the initiative.

IBA is the oldest business school outside North America and continues to consistently provide high quality education to students from Pakistan and abroad. As part of supporting this initiative, Mahvash and Jahangir Siddiqui Foundation has granted Rs 140 million to construct a state of the art auditorium complex at IBA city campus to further facilitate the learning experience of the future role models and the best available talent being taught at this prestigious organization.

Mrs Mahvash Siddiqui stated “It is an absolute pleasure to be here and help support the great initiatives of IBA, keeping in view the excellent role they are playing in building the future decision makers and leaders of this country. She further added that, the Mahvash and Jahangir Siddiqui Foundation has always been at the forefront to support such noble causes especially in the education sector”.

Mr Jahangir Siddiqui commented that “IBA is going from strength to strength with the initiatives taken under the leadership of Dr. Ishrat whom I respect immensely. His leadership gives us the drive and encouragement to further expand our support for such initiatives. He also emphasized that Mahvash & Jahangir Siddiqui Foundation looks forward to continue promoting such endeavors to help foster and build the social fabric of the Pakistani society as a whole.”

Mr Ali J Siddiqui expressed his interest to continue supporting such initiatives and stressed the need for the private sector to contribute towards the betterment of the country through philanthropy.

Dr. Ishrat Hussain took this opportunity to thank the Mahvash & Jahangir Siddiqui Foundation for this generous grant and their continuous support to various philanthropic activities across the country to help support academic and educational endeavors.

The Mahvash and Jahangir Siddiqui Foundation is a not-for-profit organization that provides grants to healthcare, education and social enterprises with a special focus on women, children and disabled individuals. The Mahvash and Jahangir Siddiqui Foundation and JS Bank have been strong advocates of various philanthropic activities in the past as well, including extensive relief efforts in the 2005 earthquake, 2008 IDP crisis and the 2010 and 2011 floods.

JS Academy for the Deaf is a project of Mahvash & Jahangir Siddiqui Foundation and Noor-E-Ali Trust. It is one of the best charity institutions imparting education to Deaf children in the country with a unique concept of having an open door policy, allowing all the deaf children to avail higher education without any age restrictions.

It is the only school in Pakistan where 9 Deaf Teachers have been employed and have received on job training to conduct research in this field. In addition it has an art gallery where deaf people can come, exhibit and showcase their art work allowing them to sell the paintings to earn a decent livelihood.

To celebrate the excellent academic results of the students, an award ceremony was held and the inauguration of a Gymnasium conducted. The students continue to excel in their academic studies with straight A’s being achieved throughout in Matric and Higher Secondary level as been over the last 7 years.  To mark this auspicious occasion, Mr and Mrs Jahangir Siddiqui, Mr Ali J Siddiqui, Mr Ali Raza Siddiqui along with their spouses, senior representatives of the Mahvash & Jahangir Siddiqui Foundation and many other notable guests were also present and spoke regarding the initiative.

Mr & Mrs Jahangir Siddiqui inaugurated a Gymnasium at the JS Academy for the Deaf and participated in the Awards Distribution ceremony to honor the high achievers within the student body and staff members. Mr Jahangir Siddiqui commented that the “JS Academy is going from strength to strength and this gives us the drive and encouragement to further expand our support for such causes. He also emphasized that they look forward to continue promoting such initiatives for the social development of the Pakistani society as a whole”.
Mrs Jahangir Siddiqui noted “Such efforts are the building stone of a prosperous society based on moral equality and quality living for people from all walks of life. She further added that, the Mahvash and Jahangir Siddiqui Foundation has always been in the forefront to support and initiate such endeavors”.
The Mahvash and Jahangir Siddiqui Foundation is a not-for-profit organization that aims to provide healthcare, education and social enterprise through sustainable development to underprivileged members of society with a special focus on women, minorities, children and disabled individuals. The Mahvash and Jahangir Siddiqui Foundation and JS Bank have been a strong advocate of various philanthropic activities in the past as well, including extensive relief efforts in the 2005 earthquake, 2008 IDP crisis and the 2010-11 floods.