Services marketing- Albaraka bank pakistan

INTRODUCTION TO ALBARAKA BANKING GROUP
• Albaraka Bank Pakistan Limited (ABPL) is a subsidiary of Al
Baraka Banking Group (ABG), a Bahrain Joint Stock Company,
listed on Bahrain and NASDAQ Dubai stock exchanges. It is a
leading International Islamic bank with authorized capital of
ABG is US$ 1.5 billion; asset base of US$ 18.4 billion and total
equity of US$ 1.9 billion. The group has Banking units and
representative offices in 15 countries spanning from Europe to
MENA and Asia, with a network exceeding 450 Branches.

• With assets in excess of Rs. 70 billion; a workforce of 1400
professionals and a network of more than 99 branches in 42
cities and towns across Pakistan, Al Baraka Bank (Pakistan)
Limited is devoted in providing customers with a range of
Shariah compliant products to suit their banking needs.

1

• Al Baraka Bank (Pakistan) Limited (ABPL) is the result of a merger between
Al Baraka Islamic Bank Pakistan (AIBP), the branch operations of Al Baraka
Islamic Bank (AIB) Bahrain, operative in Pakistan in 1989 and, Emirates
Global Islamic Bank (Pakistan). The merged entity commenced operations
on November 1st 2010. The merger, a first in the Islamic Banking sector in
Pakistan, positions ABPL to play an important role in further growing an
industry which has witnessed tremendous growth over the last 5 years.

• Moreover, various Shariah compliant deposit schemes are also available
for customers to invest their funds in, along with a variety of other ancillary
services such as online branch banking, ATM/debit card, SMS banking,
electronic statement of accounts, safe deposit lockers and utility bill
payments.

• The Pakistan Credit Rating Agency (PACRA) has assigned long-term and
short-term rating entity A, and A1 respectively. These ratings denote a lower
expectation of credit risk emanating from a strong capacity for timely
payments of financial commitments. It is part of ABPL’s commitment, to put
the customer’s values foremost, hence providing them with a banking
solution that is in line with their beliefs.
2

AL- BARAKA BANKING GROUP
(GLOBAL NETWORK)
 Bahrain
• Pakistan
• Jordan
• Turkey
• South Africa
• Egypt
• Lebanon
• Syria
• Algeria
• Tunisia
• Sudan
• Indonesia
• Libya 3

VISION & MISSION

VISION:
We believe that society needs a fair and equitable
financial system which rewards effort and contributes
to the development of the community.

MISSION:
To meet the financial needs of communities across
the world by conducting business ethically in
accordance with the Sharia, practicing the highest
professional standards and sharing the mutual
benefits with the customers, staff and shareholders
who participate in our business success.

4

CORE VALUES
• Partnership:
Our shared beliefs create strong bonds that form the basis of
long term relationships with customers and staff.

• Driven:
We have the energy and perservance it will take to make an
impact in our customer’s lives and for the greater good of the
society.

• Neighborly:
We value and respect the communities we serve. Our doors are
always open; our customers always experience a warm-hearted,
hospitable welcome and accommodating service.

• Peace of Mind:
Our customers are rest assured that their financial interests are
being managed by us to the highest ethical standards.
5

PRODUCT RANGE
AL BARAKA’S RANGE OF SERVICES BEING OFFERD

 INDIVIDUALS

 RETAIL

 CORPORATE ENTITIES

 SMALL MEDIUM ENTERPRISES

 CONSUMER CATEGORIES

7

PRODUCT RANGE
• Al Baraka Islamic Bank provides finance to meet all the needs of its business
customers for various financing facilities, including the following:

• Working Capital Finance: This includes financing the import of goods or
the purchase of such goods from the local market as well as other short-term
financial services.

• Financing of Contracts for Contractors: These facilities are designed
for contractors who carry out projects for the government or quasi-
governmental bodies.

• Project finance: Al Baraka Islamic Bank offers long-term financing for new
projects as well as for expanding existing projects in different sectors of the local
market.

• Trade Finance: These facilities include different modes of finance,
documentary letters of credit, letters of guarantee to exporters and importers.

• Real Estate Finance: through this product, Al Baraka Islamic Bank grants
the necessary funding for the purchase of property, which provides customers
with good investment opportunities.
8

FREE SERVICES
 CHEQUE BOOKS
 ATM CARDS
 PAY ORDERS
 DUPLICATE BANK ACCOUNT STATEMENTS
 HOLD MAIL FACILITY
 ONLINE BANKING TRANSACTIONS
 INTERCITY CLEARING
 SMS BANKING

9

DEPOSIT SCHEMES
• AL BARAKA MAHANA AMADANI-TERM DEPOSIT
• AL BARAKA KHAZANA ACCOUNT
• AL BARAKA PLS SAVING ACCOUNT
• AL BARAKA CURRENT ACCOUNT
• AL BARAKA BASIC BANKING ACCOUNT
• AL BARAKA BUISNESS PLUS
• AL BARAKA SAFE DEPOSIT LOCKERS
• AL BARAKA SARPARAST-FAMILY TAKAFUL PLAN
• AL BARAKA RAHNUMA TRAVEL SERVICES

10

RECOMMENDATION FOR PRODUCT

 ABPL SHOULD INTRODUCE SENIOR CITIZEN’S ACCOUNT
WITH BETTER ATTRACTIVE PROFIT RATES.
 PROIRITY BANKING FACILITY FOR SENIOR CITIZEN AND
SPECIALLY FOR HOUSE HOLD WOMEN.
 MOBILE BANKING FACILITIES FOR ALL CUSTOMER BASE.
 YOUNG SAVER ACCOUNT FOR CHILDREN UNDER AGE
OF 18, WITH THE SPONSORSHIP OF THEIR GUARDIAN.
 SPECIALLY DESIGNED ACCOUNT OPENNING FOR
DESERVING STUDENTS.

11

PRICE

 ABPL offered different Price strategy governed under
various Product segmentation.

 For every Service offered in the Bank, there are
designated Price mechanism under the Bank’s Schedule
of Charges.
 These are placed in front of Bank all Counters and are
also available with the Customer Services Department.

12

RECOMMENDATIONS FOR PRICE

 Bank’s schedule of charges may be tailored accordingly
with the current Economic Scenario and Customer’s
purchasing power considering the present level of
Inflation in the country.
 Secondly, most importantly these Schedule of Charges
must be inline with other Bank’s offering.
 More Competitive pricing strategies must be offered to
valued business entities and individual customers.

13

PLACE
 BRANCH BANKING NETWORK
ABPL offered its Banking Services in 98 branches fully
operational to cater all categories of customers in 40
cities of Pakistan.

 ATM NETWORK
These Cash machines are installed in the premier
branches of all the urban cities of Pakistan to cater walk
in customer round the clock through out the year.

 INTERNET BANKING
This service offered to all the Corporate Customers for
their daily business needs.
14

RECOMMENDATIONS FOR PLACE

 At present, ABPL branch network is being expanded in
the major cites of Pakistan which comprises of 40 cities
with 99 branches, which must be further penetrated
into other populated cities.

 ATM network which is presently run in the premier
branches of the Bank, must not only be installed in all
remaining branches of the Bank, rather must be
operational in the Malls and Hyper Malls in the urban
areas.

15

PROMOTION
ATL
TV
RADIO
PRINT MEDIA
INTERNET
BILLBOARDS & STREAMERS

BTL
EVENTS
FLYERS/LEAFLETS
POSTERS
PROMOTIONAL ITEMS
FREE GIFTS
DIRECT MAILING

16

RECOMMENDATIONS FOR PROMOTION

 ABPL , presently more focusing on to the BTL activities
for the promotional campaign and overall improving
the bank’s imagine for the customers and prospects.

 The Bank must laid down its revised ATL advertising
campaign strategy to boost up the Corporate image of
the Bank in the business community.

17

PEOPLE
EMPLOYEES
The Bank employees are fully conversant with the Islamic
Banking products and services to cater the customer
needs at the fullest.
MANAGEMENT
The ABPL management is dedicated to inculcate and
promote the best banking practice and professionalism
amongst its employees and the customers.
CULTURE
Well educated, discipline, responsible and committed to
deliver employees.
CUSTOMER SERVICE
Friendly and courteous services with professionalism is
prevailed in the Bank. 18

RECOMMENDATIONS FOR PEOPLE
 The Management must be well equipped with latest
update with respect to customer needs, which must be
translated into the effective and efficient training of its
staff, resultant in the improved and mature feedback to
their customers.

 Improved image of the Islamic Bankers must portrayed
amongst the staff members

19

PROCESS

 account opening procedure for customers deposit
base with sharia’s complaint profit bearing schemes.

 To cater financial needs for the corporate business
entities and individuals customers.

 All utility bill payments from Bank’s counters.
 Impex business requirements and its complete
solutions.

20

RECOMMENDATIONS FOR PROCESS
• Refers to systems used to assist the organization in
delivering the service.
• Aids to the promotion of the customer satisfaction it
involves;
1) speeding delivery of service
2) Reducing the paper work
3) Procedure standardization
4) Customization or simplicity

21

PHYSICAL ENVIRONMENT

• INCLUDES SIGNAGE, REPORTS, PUNCH LINES,
EMPLOYEES DRESS CODE AND OTHERS TANGIBLES.

• COMPANY REPORTS TO THE CUSTOMERS,
CORPORATE IMAGE, LOGOS, BANK NAME BRANDED
WRITING PADS, PENS, COLANDERS

22

RECOMMENDATIONS FOR PHYSICAL ENVIRNOMENT

 More tangible clues in shape of Bank’s location & size
along with building space for adequate customers
movement for speedy service delivery and customers
convenience.

 Uniformity in Bank’s Color and exterior façade for all
the bank branch network, presenting a complete
corporate package in terms of CI.

23

AL BARAKA PAKISTAN’s POSITIONING
 Al Baraka Bank (Pakistan) Limited and Al Baraka
Banking Group are fully committed to develop and
promote an integrated Islamic Financial System.
Compliance with the rules and principles of Islamic
Shariah is the core of the banking and financial
activities and its philosophy.

 All its banking activities are very closely regulated
by a Board of Shariah Advisors based at the Head
Office in Bahrain and a Shariah Advisor based in
Pakistan, to ensure strict compliance with the
highest standards of Islamic Banking principles.
24

SEGMENTATION
 Al Baraka Bank Pakistan deals with
 Individuals,
 Firms and
 Corporate business entities

 Main focus area of penetration are in these sectors;
 Industrial sector
 Services sector
 Household / consumers sector
 Real estate business.

25

CONCLUSION
 Political situation
 Economic situation
 Introduce new products
 Positive product prices
 Improve market instruments
 Fastest banking
 Employee satisfaction

26

FINAL RECOMENDATION
 In order to boost up the banking services and image of Islamic Banking in the
masses at large, ABPL must develop more integrated , simplified and well
define solution services to its existing customer portfolio and prospects.

 Agriculture financing to be improved

 These Islamic banking services may be improved by imparting Sharia’h
knowledge into its employees firstly through Bank’s appointed Sharia’h
Advisors, who are the initiators from the Bank counters. Secondly, arranging
more in-house workshops and training to their Bank’s employees, enabling
them to Share and learn more Islamic way of transactions for execution and
thereafter, to be shared with the customers.

 Presentations and for customer’s awareness, more Q&A session in the
Branches, along with the FAQs are to be practice more frequently in order to
give first hand knowledge to customer’s queries and misconceptions which are
being aired in our society and public at large, to simplify & clear the ambiguity
about the modus operandi for Islamic Banking mode of banking.

27

FINAL RECOMENDATION
 Last but not the least, More aggressive and continuous
advertising thru BTL & ATL business strategies to further
uplift the brand image of ABPL across Pan Pakistan in line
with the Sharia’h Principles and also restoring the
customer’s business interest at all times.

28

Services marketing- Albaraka bank pakistan

More Related Content

What's hot (20)

Similar to Services marketing- Albaraka bank pakistan (20)

Services marketing- Albaraka bank pakistan