FATF Impact: Gulf investors seek exit opportunity from Pakistan’s banking industry

[somebozo]

Gulf investors seek exit opportunity from Pakistan’s banking industry
By Monitoring Report -
April 16, 2018
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LAHORE: After holding their positions for decades, a number of Gulf investors are looking for a suitable exit opportunity from the Pakistani banking industry. The three banks, owned by Gulf investors, up for sale are Bank Alfalah (BAFL), Meezan Bank (MEBL), and Faysal Bank (FABL), revealed a story published in the Profit magazine.

Sheikh Nahyan bin Mubarak Al Nahyan, a member of the royal family of Abu Dhabi, is a majority shareholder in BAFL, with his investments in Pakistan housed under the Abu Dhabi Group. The group’s other investments in Pakistan include Wateen Telecom, an internet and communications infrastructure company, and Taavun, a real estate developer. In November 2015, the group sold its struggling mobile operator Warid to Jazz (then called Mobilink).Given the struggles of its telecom businesses, it is looking to close ship in Pakistan altogether and according to sources conversation about a sale of the Abu Dhabi Group’s shares in Bank Alfalah have begun.

Similarly, MEBL’s current shareholding is dominated by Noor Financial Investments Company, a publicly listed company in Kuwait that manages the wealth of several of that country’s richest families. Noor Financial owns 49 per cent of the bank and has publicly made it known that its shares are up for sale. Most notably, in 2013, they tried to sell the bank to Habibullah Khan, the Karachi-based billionaire who owns Mega Conglomerate, a shipping and logistics conglomerate that has since branched out into real estate development and other industries as well. That transaction, however, was blocked by the State Bank of Pakistan, in part because Habibullah Khan was using an offshore company to conduct the transaction.

FABL, on the other hand, started off its existence in Pakistan in 1987 as the tiny branch operations of Faysal Islamic Bank, a Bahraini bank owned by Prince Mohammad bin Faisal al Saud, the son of the late King Faisal of Saudi Arabia. The banks’ owner has now also expressed intent to sell it off, however, sources close to the matter claimed that sponsors of FABL, like those of Bank Alfalah, are asking for an exorbitant price, suggesting that they might not be as committed to the sale process.

 

[somebozo]

Mr muft ismael may be down playing FATF consequences but the reputation of Arab bankers and Pakistani market is already too fragile since 9/11 and no arab banker would want to see themselves associated with terrorism financing risk. The Pakistani establishment insistence to protect terrorist like Hafiz Saeed has earned it a place in FATF grey list which can spell doom for its banking and finance industry.

 

[Manidabest]

if you really want to understand their exist then you must see what is going on in their internal matters ....it has nuthing to do with fatf issues and in the case of abu dhabi u must see their policies towards Pakistan in general and their regional policies then u will find out what exactly is happening...

 

[Ajaxpaul]

Mr muft ismael may be down playing FATF consequences but the reputation of Arab bankers and Pakistani market is already too fragile since 9/11 and no arab banker would want to see themselves associated with terrorism financing risk. The Pakistani establishment insistence to protect terrorist like Hafiz Saeed has earned it a place in FATF grey list which can spell doom for its banking and finance industry.

Pakistan has a long a painful road ahead to disassociate themselves from the terrorism tag. Some actions are taken in the right direction it seems.

 

[somebozo]

Pakistan has a long a painful road ahead to disassociate themselves from the terrorism tag. Some actions are taken in the right direction it seems.

these tags are not due to ignorance or inablity but rather choice..after the FIF and JuD Fiasco, even the most hardcore deniers will come to an agreement that Pakistani army hands are tainted with blood of innocent killed by terrorism at the hands of proxies nurtured by none other than its own army!

 

[ni8mare]

Gulf investors seek exit opportunity from Pakistan’s banking industry
By Monitoring Report -
April 16, 2018
3
3890
Share on Facebook

Tweet on Twitter

LAHORE: After holding their positions for decades, a number of Gulf investors are looking for a suitable exit opportunity from the Pakistani banking industry. The three banks, owned by Gulf investors, up for sale are Bank Alfalah (BAFL), Meezan Bank (MEBL), and Faysal Bank (FABL), revealed a story published in the Profit magazine.

Sheikh Nahyan bin Mubarak Al Nahyan, a member of the royal family of Abu Dhabi, is a majority shareholder in BAFL, with his investments in Pakistan housed under the Abu Dhabi Group. The group’s other investments in Pakistan include Wateen Telecom, an internet and communications infrastructure company, and Taavun, a real estate developer. In November 2015, the group sold its struggling mobile operator Warid to Jazz (then called Mobilink).Given the struggles of its telecom businesses, it is looking to close ship in Pakistan altogether and according to sources conversation about a sale of the Abu Dhabi Group’s shares in Bank Alfalah have begun.

Similarly, MEBL’s current shareholding is dominated by Noor Financial Investments Company, a publicly listed company in Kuwait that manages the wealth of several of that country’s richest families. Noor Financial owns 49 per cent of the bank and has publicly made it known that its shares are up for sale. Most notably, in 2013, they tried to sell the bank to Habibullah Khan, the Karachi-based billionaire who owns Mega Conglomerate, a shipping and logistics conglomerate that has since branched out into real estate development and other industries as well. That transaction, however, was blocked by the State Bank of Pakistan, in part because Habibullah Khan was using an offshore company to conduct the transaction.

FABL, on the other hand, started off its existence in Pakistan in 1987 as the tiny branch operations of Faysal Islamic Bank, a Bahraini bank owned by Prince Mohammad bin Faisal al Saud, the son of the late King Faisal of Saudi Arabia. The banks’ owner has now also expressed intent to sell it off, however, sources close to the matter claimed that sponsors of FABL, like those of Bank Alfalah, are asking for an exorbitant price, suggesting that they might not be as committed to the sale process.

Very Good.......progressively intensity of economic war should be increased

 

[Ryuzaki]

After FATF black list in about 1.5 months,it will be difficult for IMF/World Bank to give loan to Pakistan.Or the conditions proposed would not be palatable.

 

[The Accountant]

Guys you are reading too much into the news, these are investment groups not bankers, investing in these banks and exiting after making a profit is normal for them ...

Banks are making huge profits specially Meezan bank ...

Faysal bank needs to be merged with some big bank as its size is small and not suitable to operate in country size of Pakistan whereas Al-Falah has some reported ethical issues from top management which resulted in recent dismissal of the top management ...

Article is explaining the intent (profit making) in the end by writing that sponsors are asking for exorbiant prices ...

 

[sparten]

The OP is clueless if s/he links this with FATF impact. (The Indians having shattering orgasms are to be expected).

Alfalah group has been struggling for years, with Warid, Wateen etc doing very poorly. Alfalah is also having issues. None of that is related to FATF.
Meezan is a small, Islamic bank, and which is probably too big (600 branches) for what is a niche service and Faysal Bank is the remains of RBS, which you might remember was fucked in its arse during the financial crises.

 

[volatile]

It has nothing to do with FATF ,The banking industry in Pakistan is shrinking ,there is no mentioning of FATF in the article and if some one thinks like this he is fooling around
https://www.dawn.com/news/1356431
Banks’ profitability falls, asset base expands: SBP

UAE owns major Banks shares in Pakistan and those banks were given free license in Musharaf era to operate ,The Arabs made there profits and now leaving for newer destinations, Where is FATF in this whole

After FATF black list in about 1.5 months,it will be difficult for IMF/World Bank to give loan to Pakistan.Or the conditions proposed would not be palatable.

Dont worry we will manage our stuff ,stop promoting propaganda ,by the way Indian history of working with UN banned countries and group so there were no issues for them .

https://www.aljazeera.com/indepth/f...-north-korean-connection-160620195559208.html

http://www.thecitizen.in/index.php/...companies-named-in-islamic-state-supply-chain
Seven Indian Companies Named In Islamic State Supply Chain

 

[Max]

Mr muft ismael may be down playing FATF consequences but the reputation of Arab bankers and Pakistani market is already too fragile since 9/11 and no arab banker would want to see themselves associated with terrorism financing risk. The Pakistani establishment insistence to protect terrorist like Hafiz Saeed has earned it a place in FATF grey list which can spell doom for its banking and finance industry.

BS, don't tell us such jokes. Arab donkey leaders especailly GCC pigs are associated with terrorism as much as Hinduism with idols..

Pakistan was not the one where wahhabi salafi fitnah Was originated it was the beloved country where you live. Also everyone know who fund terrorists and extremist madrasa around the world. Its no brainer for sane people..

The topic have nothing to do with FATF, your own article says that they are withdrawing from 2013..

 

[Spy Master]

Lol....Its absolutely fun to watch wet dreams and pain of poor Indians in this thread

 

[The Accountant]

It has nothing to do with FATF ,The banking industry in Pakistan is shrinking ,there is no mentioning of FATF in the article and if some one thinks like this he is fooling around
https://www.dawn.com/news/1356431
Banks’ profitability falls, asset base expands: SBP

View attachment 467453

UAE owns major Banks shares in Pakistan and those banks were given free license in Musharaf era to operate ,The Arabs made there profits and now leaving for newer destinations, Where is FATF in this whole


Dont worry we will manage our stuff ,stop promoting propaganda ,by the way Indian history of working with UN banned countries and group so there were no issues for them .

https://www.aljazeera.com/indepth/f...-north-korean-connection-160620195559208.html

http://www.thecitizen.in/index.php/...companies-named-in-islamic-state-supply-chain
Seven Indian Companies Named In Islamic State Supply Chain

Pakistan banking industry is not shrinking but consolidating ...

 

[Thanatos]

Lol look at the Indian members jumping in Joy without evening knowing the background.

I think in order to gave themselves a break from rape news , they come here and curse Pakistan. Just to take load off their hearts. The digital india is sinking in polluted Ganga .

 

[volatile]

Pakistan banking industry is not shrinking but consolidating ...

Sir the banks profits are shrinking which is good for economy ,how ever FATF has nothing to do