EFU General Insurance has been adjudged as the Best Insurance Company in Pakistan, winning several other awards for outstanding services in pricing, claims resolution and product range, according to a Global Insurance Survey.

The survey results were published in April 2009 issue of Euromoney, a leading monthly magazine that provides detailed global coverage of the insurance industry. Euromoney publishes ranking and league tablets of insurers and brokers as well as detailed analysis of top companies.

Euromoney carries out an Annual Insurance Poll, surveying large corporate users of insurance across the globe from international to regional institutions.

The EFU General Insurance, the parent company of EFU Life Insurance and Allianz EFU Health Insurance, represents the EFU Group, the largest insurer offering life and non-life products in Pakistan. In 2008 total premium of the group was Rs.17.8 billion.

Credit Chex Bureau User Group which happened in Dubai on 13 – 14th May 2009 was hosted by Credit-Chex and Experian and addressed to Executives from major financial and banking institutions in Pakistan and Gulf area. The participants had the opportunity to share and discuss around credit risk management, fraud prevention and how the credit reference agency affects market economies.

Credit Chex, and Experian®, the global information services company, offer the most sophisticated data sharing system in the Pakistani financial sector through their Credit Bureau and Customer Management Solutions which enables better risk management to support the Pakistani consumer economy.

Shiraz Ahmed, CEO of Credit Chex, described the event as a breakthrough channel for Pakistani lenders to seek global expertise to overcome existing challenges of New Consumer Lending, Managing Existing Portfolio specially Collections and issues related to Fraud by using Credit Chex Bureau, Score and Portfolio Management solutions. Credit Chex services compliment’s the existing Bureau’s in the country and benefits the Consumer Business through sophisticated technology provided by our global partner Experian.

Nabil Mowais, Director of Credit Chex, said: “Access to the Credit Chex Credit Bureau enables Pakistani lenders to make the right acquisition decisions to grow their business but at the same time, control bad debt, business risk and exposure. Credit Chex Bureau enables Pakistani banks, finance houses, credit card issuers and telecom organisations to make faster, better and more consistent credit decisions for new and existing customers.”

Gian Paolo Pavani, EMEA Director for Credit Bureau Expansion Experian, said: “We are proud of our long-term relationship with Credit Chex, this event shows the great commitment of Experian in Pakistan and its consumer economy, which can benefit from a world-class credit risk management system.”

Cenker Ozhelvaci, Country Manager for Turkey and Middle East Experian’s Decision Analytics division, commented: “The Credit Bureau brings important advantages to credit institutions as it can be used effectively in different areas such as account acquisition or customer management by providing an accurate snapshot of the credit worthiness of an individual; in marketing by providing a thorough performance picture for ‘inactive’; accounts; and collections by showing how the customer is behaving with other creditors.”

JS Global Capital has been adjudged the winner of the 26th Corporate Excellence Award in the Investment & Securities Sector, by the Management Association of Pakistan (MAP).

The Award was presented to the CEO of JS Global Capital, Mr G.M. Malkani at a ceremony held today, with Mr. Salim Raza – Governor, State Bank of Pakistan as the Chief Guest.

Mr. G.M. Malkani, CEO – JS Global Capital, outlined, “We are very pleased to receive this Corporate Excellence Award by the Management Association of Pakistan. We have always played an important role in leading development within the corporate sector, and this award is a testimony to that”.

JS Global Capital also plans to launch the next generation of online trading system in Pakistan very shortly, in partnership with Mubasher, Dubai. Last year, Asiamoney declared JS Global Capital as the Best Local Brokerage House in Pakistan as part of their Brokers Poll for 2008.

The Royal Bank of Scotland Limited(RBS), has launched a summer promotion on its credit cards. The promotional campaign, which will run for a month starting May 1, is developed in conjunction with Pakistan’s leading carrier, Airblue, one of the bank’s co-brand card partners.

All RBS credit card holders will have a chance to win two return tickets to the UAE on Airblue through a daily lucky draw. The promotion is also open to new customers who successfully apply for an RBS credit card during the campaign period.

Head of retail banking RBS Pakistan Salman Sarwar Butt said, “This unique promotion further demonstrates our commitment to our customers and rewards for them banking with RBS.”

The board of directors of JS Investments Limited (JSIL), the management company of JS Income Fund (JS IF) and JS Aggressive Income Fund (JS AIF) approved interim dividends for JS IF and JS AIF for the third quarter of FY09, ended march 31, 2009.

A payout of Rs 4.50 per unit of par value of Rs.100 (4.5%) was approved for JS IF while interim payout of Rs 1.50 per unit of par value Rs.100 (1.5%) was approved for unit holders of JS AIF.

This brings the total payout for the year to Rs 7.55 per unit of par value of Rs.100 and Rs 4.25 per unit of par value of Rs.100 for JS IF and JS AIF respectively.

Unit holders who have opted for cash payout will receive cash payment while unit holders who have opted for bonus units will be allocated units at the net asset value at the close of business on March 31, 2009.

The above entitlement will be paid to the unit holders, whose names appear in the register of unit holders at the close of business on April 16, 2009.

‘We are proud of the fact that income funds being managed by JSIL are amongst the best performing income funds of the industry with JS Income Fund at the top of the league table’, said Najam Ali, CEO of JSIL.

JS IF is one of the oldest Income Funds in Pakistan.

Dadex Eternit Limited has signed an MoU with Engro Polymer and Chemicals Limited to work together towards a range of mutually agreed collaborative efforts for promotion of High Efficiency Irrigation Systems in Pakistan.

Through this cooperation, Engro Polymer will provide Dadex Eternit with access to EPCL’s training facilities and databases at various locations in Pakistan, while Dadex Eternit will provide High Efficiency Irrigation Systems and promote use of quality UPVC pipes locally manufactured for HEIS. It will also promote PVC-Geomembrane lining for reservoirs and water courses.

J.S. Academy for the Deaf, a project of the “Noor-e-Ali Trust” celebrated its 5 year’s achievements with a spring festival and acknowledged its students and teachers who have achieved academic excellence over these years.

The Academy is unique in nature as it has an open-door policy to accept deaf children who have either been deprived of schooling or have been rejected by other schools due to age criteria. For the past 5 years, J.S. Academy has achieved excellent results in the Matric and Inter-board examinations and has been acknowledged as an outstanding Special Education institution in the country.

During the official ceremony, the J.S. Academy awarded its outstanding students and teachers for achieving excellence in academics. The awards were given by the guests of honor Mr. Jahangir Siddiqui and Mr. Munawar Alam Siddiqui – Chairman, M&JS Foundation.

The focus at the J.S. Academy has always been to impart quality education to deaf children, as well as ensuring total development and grooming of its students by a highly-qualified team of teachers who impart education via Sign language.

J.S. Academy for the Deaf is a project of the Noor-e-Ali Trust, and its aim is to teach the deaf and hearing impaired children to read, write & communicate in their own language which is the Sign Language. The school has been operational since 2004 and has achieved a very high ranking in providing Quality Education to both deaf boys and girls.

The J.S. Academy for the Deaf is supported by the Mahvash & Jahangir Siddiqui Foundation through annual donations. M&JS Foundation is the charitable wing of the JS Group, and the foundation supports many organizations and initiatives. The primary focus areas of the foundation are healthcare, education and sustainable development through social enterprises.

EFU Life Insurance Ltd. and United Bank Ltd. (UBL) have launched a range of insurance products under the brand name UBL BetterLife.

These co-branded insurance products, the result of a strategic alliance between UBL and EFU Life, shall be available to customers from selected branches of UBL. The products will meet an emerging need for financial security as well as the desire for a better future for the familites of the insured.

The four product variants being offered under the BetterLife brand carry the sub-title of Education Plan, Marriage Plan, Savings Plan and Retirement Plan.

These are designed to support families by contributing to the cost of children’s education, marriage of children who come of age, supplementing the income of working people and helping them improve their quality of life, as well as providing the much needed financial security to people after retirement.

Selling insurance products through banking channels is a recognized international practice now. UBL & EFU Life ‘bancassurance’ products will be offered in a phased manner through the UBL branch network across Pakistan.