ACKNOWLEDGEMENT

First of all we would like to thank Almighty Allah who enabled us potency and courage to successfully research and pen this project, to achieve our target and complete this report up to our ultimate level.

We would like to extend our special thanks to MS. AYESHA RASHEED LONE, who conducted our course and continuously guided and supported us during our project and enabled us the opportunity of practically performing all that we had studied during the semester.

We would also like to thank the endurance of our parents and family members for bearing up with us throughout this endeavor both time and money wise.

Dedication

We dedicate this report to MS. AYESHA RASHEED LONE. Without her guidance and support we could

have not completed this report.

FOREIGN BANKS IN PAKISTAN:

Foreign Banks work after the approval of Government of Pakistan and the province the same services,which commercial banks provide in the country.These banks play very vital role in maintaining foreign reserves and in the development of domestic trade.At present there are some foreign banks working in the country. Foreign banks are mainly concentrating in the field of foreign trade financing with emphasis on export financing. All the Euro dollar loan syndications for the Government of Pakistan have been managed by foreign banks. In the area of aircraft financing too, the foreign banks have played a leading role. In the area of leasing and hire-purchase, some of the foreign banks have volunteered to draw down on their institutional experts to provide the expertise to make leasing a reality. In the case of automation and electronic banking, the foreign banks moved at a faster pace than the local banks.

CRITERIA FOR OPENING FOREIGN BANKS BRANCHES IN PAKISTAN

A foreign bank desirous of undertaking banking business in Pakistan, is permitted to do so unless and until it has in its possession a written license issued by the State Bank in that behalf.

Under the existing legal provisions governing the grant of licenses to foreign banks for operating in Pakistan. State Bank is empowered to consider applications from only such countries where the government or law provides the same facilities to the banking companies incorporated in Pakistan as the Government or the law of Pakistan provides to companies incorporated outside Pakistan.

Further, the following criteria for granting permission to foreign banks to establish branches in Pakistan is in vogue:

1. The applicant bank should have been in active business for a minimum of 5 years.2. The minimum assigned capital to be maintained by the applicant bank in Pakistan should

not be less than Rs. 5 million or 7.5% of its demand and time liabilities in Pakistan whichever is more. (This requirement is subject to review from time to time).

3. It should have branches in at least two countries other than the country of its incorporation.

4. In the case of a country where more than one Pakistani bank is operating, the number of banks from that country should not exceed the number of Pakistani banks.

Following information/documents are also required for processing application of a foreign bank to open a branch in Pakistan:

1. Annual audited reports of the bank for the last 5 years.2. Bio-data of directors of the bank.

3. List of shareholders of the bank indicating their nationality.

4. Attested copy of Certificate of Incorporation.

5. Attested copy of Articles and Memorandum of Association.

6. List of branches operating inside and outside the country of origin.

7. Letter of Authority from Central Bank authorizing the bank to establish branches outside the country.

8. Rules regarding opening of foreign bankis branches in its country.

State Bank considers applications for grant of licenses to commence banking business in Pakistan by banks incorporated outside Pakistan which are duly submitted in the prescribed form.

HSBC:

HSBC is one of the largest banking and financial services organisations in the world. HSBC's international network comprises over 9,500 offices in 85 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa.

HSBC started its operations in Pakistan in 1982. Since then, it has expanded to all major cities of Pakistan and operates as a full service bank. It currently has 11 offices, 24/7 telephone call centre, and HSBC Premier. The bank also offers NRP (non-resident Pakistani) services. Out of its branches, four are located in Karachi, two each in Lahore and Islamabad, and one each in Rawalpindi,Faisalabad, and Sialkot. All the cities served also offer Premier Centres. HSBC's offices in Pakistan were operated by The Hongkong and Shanghai Banking Corporation. In

2008, The Hongkong and Shanghai Banking Corporation sold Pakistan banking business to HSBC Bank Middle East Limited.

Services are offered in following sectors by HSBC:

HSBC Premier

 HSBC Advance  

 Personal 

 Business and Commercial

  Global Banking and Markets

Awards

In 2010 Global Trade Review Awards:

Best Global Trade Finance Bank Best Trade Finance Bank in MENA Best Domestic Cash Manager Middle East

BARCLAYS:Barclays PLC  is a British multinational banking and financial services company headquartered in London, United Kingdom. As of 2010 it was the world's 10th-largest banking and financial services group and 21st-largest company according to a composite measure. It has operations in over 50 countries and territories across Africa, Asia, Europe, North America and South America and around 48 million customers.

The State Bank of Pakistan in December 2007 granted Barclays the licence to operate in the country.

Barclays commenced operations in Pakistan in July 2008. It serves its customers and clients across the country through a network of 30 ATMs and 15 branches, including five branches in Lahore, four in Karachi, one in Islamabad and two in Rawalpindi. The Barclays network has extended its presence to the rural centres of Mangla, Rawat and Akora Khattak with a branch in each of these locations.

In Pakistan, the Barclays services include: 

Retail banking: offers customers a range of personal accounts, investment options, consumer loans and Bancassurance

Premier banking: provides preferential banking services to eligible customers Corporate banking: offers business banking services tailored to meet the needs of

corporate clients, including cash management, loans, savings and risk management, supported by a dedicated Relationship Manager.

DEUTSCHE BANK:

Deutsche Bank first established in Pakistan on 22 July 1961, with the name Deutsch Asiatische Bank, which was later renamed as Deutsche Bank AG on 5 April 1988.

Deutsche Bank celebrates today its 50th anniversary in Pakistan, marking an important milestone of its presence in the market. Deutsche Bank first established in Pakistan on 22 July 1961, with the name Deutsch Asiatische Bank, which was later renamed as Deutsche Bank AG on 5 April 1988. Over the last five decades, the Bank has expanded its franchise with offices established in three major cities Karachi, Lahore and Islamabad.

Deutsche Bank offers a full suite of corporate and investment bank products to its clients. With strong on-the-ground presence, coupled with the Bank’s regional and global expertise,.

Over the years, Deutsche Bank has been a leader in helping Pakistan clients raise capital in offshore markets, playing a key role in international bond offerings for the Islamic Republic of Pakistan.Is providing services in following sectors:

Corporate & Investment Bank

Private Clients and Asset Management

Awards

Deutsche Bank AG in Pakistan was named Best Bank in The Asset’s Triple A Awards 2008.

Deutsche Bank led a consortium of banks to provide EUR 118 million in loans for 48 MW photovoltaic project in Italy

CITI BANK:

History:Citi has been operating in Pakistan since 1961 and has a highly respected franchise through our successful delivery of innovative, high-quality banking products and services to its clients. Citi has many 'firsts' to our credit including launching the first credit card in Pakistan, pioneering Consumer Asset financing and introducing the first 24 hour, 7 days a week call centre.

We have been at the forefront of the financial sector reform process and have been the lead bank in taking the Government to international capital markets, including issues of the first Foreign Currency Sukuk, the first 30 year US Dollar Sovereign Bond and the first equity offering in over a decade.

We are also the leading bank in Pakistan for delivering Export Agency and Multilateral financing and have been instrumental in the development of Pakistan's market for derivatives and other treasury products.

Businesses:With over 1000 employees in Pakistan, we operate through two major business lines; our Global Consumer Group and our Institutional Clients Group, providing a variety of services to more than 200,000 consumer and corporate clients respectively.

Citi Pakistan has a network of 26 branches across Karachi, Hyderabad, Islamabad, Rawalpindi, Lahore, Faisalabad, Multan, Sialkot, Gujranwala and Jhelum

Community:Citi's philanthropic arm- the Citi Foundation is committed to enhancing economic opportunities for underserved individuals and families in Pakistan. Since 2002, the Citi Foundation has given more than US$3.5 million in grants to projects focusing on Microfinance and Microentrepreneurship, Education, Financial Education and transfer of expertise. Citi Pakistan has received the prestigious CSR National Excellence award for outstanding Corporate Social Responsibility in 2007.

MISSION

‘Bringing the bank to your workplace.’

PERSONAL BANKING:

Phone Banking:

Our 24/7 CitiPhone Banking allows you to access our Customer Services staff around-the-clock, around the globe

Now access information, give instructions or register your complaints with the utmost security and convenience over the telephone,by simply dialing 111-222-222 or 111-333-333

International Callers may dial-in via the following numbers: +92-21-3259-0137

CUSTOMERS FORM CENTERS

Same Base Account Opening Request Form Account Statement / Bank Certificate Request Form Account Closure Request Form

INTERNET BANKING:

Key Benefits of Citibank Online

Quick and easy access to your bank accounts

Transfer money between your Citibank accounts

Use IBFT to transfer funds to accounts in other participating banks

Make your utility bill payments and credit card payments from the comfort of your home or office at any time

Order check books and account statements

Account Information View account details and activity

View balance summary

Download account activity

Transfers and Payments

Transfer funds between your accounts with Citibank Pakistan

Transfer funds to another Citibank Pakistan customer

Foreign Currency Transfer

Rate Information

Foreign currency exchange rate

Interest/profit rate

Demand Drafts and Manager Checks

Issuance of Demand Drafts

Issuance of Manager checks - Pak Rupee Only

Payments

Bill Payments to Service Providers in Pakistan

Pay your Citibank Credit Card Bill

Customer Services

Order account statement

Order for check book

Recommend a friend

Update your contact information

Payee List

Add a New Payee

See or Delete Payees

CITI DEBIT CARD:

Debit Card Enjoy convenience, security and exciting privileges with your Citibank ATM / Debit Card  

  Citibank ATM/Debit Card brings you banking convenience locally and globally. From cash withdrawals to your daily purchases and bill payments, all you need is your Citibank ATM/Debit Card. What's more, you will experience exclusive lifestyle privileges when you make purchases with your Card.  Benefits:

Instant access to cash at any of our Citibank ATMs and ATMs connected via MNET/ 1-Link

   With over 1.4 million Visa/Plus ATMs globally, you can withdraw cash when you are travelling.

   Worldwide recognition of the Visa logo allows you to shop globally at over 29 million merchants. Your purchases are paid directly from your bank account, which means you have no late fees or interests to worry about.

   Enjoy peace of mind with our safety features – Provides you with the highest level of security against any fraudulent activities on your card.

   With Citi Alerts, an SMS is all it takes to let you find out your account balance, latest bank

and card transactions and more   

You can withdraw up to Rs. 160,000 daily through your Citigold Debit Card  Investor Portfolio Securities Accounts(s)

Citibank customers can invest in Government securities by filling out the IPS Account Opening form. After ensuring the completeness and accuracy of the form and supporting documentation, Citibank opens an IPS account with the State Bank of Pakistan on customer’s behalf.

The main types of Government securities that customers can invest through this account are:

Treasury Bills (T-Bills)

Treasury bills are zero coupon instruments issued by the Government of Pakistan and sold through the State Bank of Pakistan via fortnightly auctions. T-Bills are issued with maturities of 3-months, 6-months and 1 Year and are priced at a discount. T-Bills are risk free,.

They are issued with a minimum denomination of Rs.100, 000.

Pakistan Investment Bonds (PIBS)

PIBs are long term bonds issued by the Government of Pakistan and sold through the State Bank of Pakistan via periodic auctions. PIBs are issued with tenors of 3, 5, 7, 10, 15, 20 and 30 Years. Being backed by the Government of Pakistan, they present a low risk long term investment option. The Pakistan Investment Bonds offer a fixed semiannual coupon and repayment of principal at maturity. They are highly liquid SLR eligible securities that are actively traded in the secondary market.

The minimum denomination of PIBs is Rs.100, 000.

Type of Transaction

   Form

Account Opening form for IPS IPS Account Form

Purchase of PIBs / T-Bills in competitive bid through auctions (primary market)

Deal Request Form - Auctions

Purchase of PIBs / T-Bills in non-competitive bid through auctions (primary market)

Deal Request Form - Auctions

Purchase of PIBs / T-Bills from Citibank inventory (secondary market)

Deal Request Form – Non Auctions

Selling of PIBs / T-Bills Deal Request Form – Non Auctions

Charges

   Item    Charges

IPS Account opening charges PKR 1000

Transaction charges PKR 200 / transaction

Safe Keeping Charges / Stamp Duty / Legal Fee PKR 1000 per annum

 

CITI INSURANCE:

Health Forever

Life is all about being prepared

Life is all about being prepared. That’s why it is important to plan ahead for emergency medical costs, so that you stay prepared for any eventuality. Health Forever assures you of the best medical treatment, without having to bother about the cost of the treatment or compromise on its quality.With Health Forever Citibank customers get protection against medical costs arising as a result of an accident or sickness and include life insurance as a built-in feature. Health Forever protects you against these costs for a small premium payment, so you can forget about what might happen tomorrow and start living today. 

1. In-Hospital Income Benefit

A lump sum benefit of PKR 1,500 will be paid for each day an insured customer is hospitalized due to accidents or sickness. This money is paid in addition to any other insurance a customer might have and can be used to replace lost income, to assist with family expenses or to help pay for best possible medical care. Coverage starts from 16th day of enrollment under the Plan and the benefit is payable for a maximum of 30 days per admission.

2. ICU Benefit

An additional lump sum benefit of PKR 1,500 will be paid for each day an insured customer is confined to intensive care unit (ICU) of a hospital due to accidents or sickness. Coverage starts from 16th day of enrollment under the Plan) and the benefit is payable for a maximum of 30 days per admission.

3. Dread Diseases Benefit

If an insured customer is diagnosed, for the first time in his/ her life, with any of the following 7 diseases after at least 60 days of enrollment under the Plan, a lump sum of PKR 50,000 will be paid to him/ her:

Malignant Cancer Stroke

Heart Attack

Coronary Artery Bypass Surgery

Kidney Failure

Major Organ Transplant

Multiple Sclerosis

The benefit mentioned above is payable on diagnosis of any of these illnesses and is subject to a surviving period of at least 28 days from the date of diagnosis.

4. Accidental Medical Reimbursement

Reimbursement of medical expenses incurred as a result of accidental bodily injury, within 30 days from the date of accident. The payment covered includes payment to physician, surgeon, nurse, hospital for medical, surgical, X-ray, hospital, nursing, or daycare treatment including the cost of medical supplies, subject to an annual limit of PKR 150,000 and per incidence deductible of PKR 500. This includes treatment of injuries, fractures and lacerated wounds.

5. Death Benefit

A lump sum benefit PKR 300,000 is paid to the designated beneficiary.

6. Accidental Death Benefit

Incase the insured customer expires as a result of accident, a monthly income of PKR 10,000 is paid to the designated beneficiary for a guaranteed period of 10 years – total payout PKR 1,200,000.

7. Premium

All the above benefits can be availed for an annual premium of PKR 3,000. Your coverage will be automatically renewed on yearly basis & shall be terminated at will or when you reach the age of 60.

Life Plus

May you always have it and never need it.  

Pre-approved life insurance worth Rs. 1,000,000 by American Life Insurance Company (Pakistan) Limited. Exclusively for Citibank Cardmembers. 

Everyone strives to provide the very best for their family and you are no different. Sometimes it is hard to deal with the growing needs of your loved ones, so take the right steps that would help them reap rich dividends even if you aren't there (in case of Death or Permanent Total Disability). Guarantee your loved ones a prosperous & trouble-free future by opting for a Life Plus Plan.

 What is a Life Plus Plan? 

Life Plus is a Comprehensive Life Protection Plan underwritten by ALICO (American Life Insurance Company (Pakistan) Limited). Life Plus Plan requires no medical check-up. It provides the family with "Rs. 1,000,000" in any event resulting in Loss of Life or Permanent Total Disability. It is affordable and is offered to Citibank Cardmembers at only Rs. 250/month for a Life cover and Rs.325/month for both Life and Permanent Total Disability cover.

Life Plus Plan Features 

Life Plus covers both accidental and nonaccidental risks to life and provides a 24-hour worldwide protection against the following:1.Death2. Permanent Total Disability

Death: 

If a Citibank Cardmember dies while insured under this plan, ALICO (American Life Insurance Company (Pakistan) Limited) will pay Rs. 1,000,000 to the beneficiary(ies).

Permanent Total Disability: 

If a Citibank Cardmember becomes Permanently Total Disabled while insured under this plan, ALICO (American Life Insurance Company (Pakistan) Limited) will pay Rs. 1,000,000 to the policy holder/beneficiary(ies) (Permanent Total Disability benefit is offered with the Death benefit).

Coverage Lump Sum Benefits Monthly Benefit Premium

Death Only Benefits Rs. 500,000 Rs. 20,000 for 25 months Rs. 250/month

Death & Permanent Total Disability Benefits Rs. 500,000 Rs. 20,000 for 25

months Rs. 325/month

Eligibility Citibank Cardmembers between the age of 18 and 60 are eligible for enrollment under Life Plus Plan (renewable up to 65th Birthday).

Citibank Credit Shield Plus

If the unexpected happens, you are covered.

Credit Shield Plus is now available with Double Indemnity which provides for an additional payment equal to the outstanding on Citibank Credit Card to the beneficiary nominated in case of accidental death. Citibank Credit Shield Plus gives you total peace of mind by insuring you against unforeseen emergencies concerning your health and life. Under this cover, if you are unable to pay the minimum amount because of temporary disability, the underwriter will pay on

your behalf. In the unfortunate event of prolonged critical illness, permanent disability or even death, the underwriter will pay the entire total balance on your Citibank Credit Card. In the event of an accidental death, the underwriter will pay the beneficiary ( appointed by the Card member ) an equal amount of the outstanding on Citibank Credit Card balance.

Credit Shield Plus offers you peace of mind by helping you pay your Citibank Card payments when you are not able to, so your loved ones will not be burdened with these payments.

Citibank Credit Shield Plus provides insurance coverage on occurrence of the following events:

Benefits

Temporary disability: In case of temporary disability under Credit Shield Plus minimum monthly payments for up to six months to Citibank on your behalf.

Permanent disability: In case of permanent disability under Credit Shield Plus full payment of the outstanding card balance to Citibank on your behalf.

Critical illness: Under Credit Shield Plus full payment of outstanding card balance, in case of any of the following critical illnesses, first occurring after the Commencement Date: Blindness, Malignant Cancer, Stroke, Heart Attack, Major Organ Transplant Surgery, Coronary Artery Bypass Surgery and Chronic Renal Failure. Please read the full Terms and Conditions for more detail.

Natural Death: In case of death under Credit Shield Plus full payment of the outstanding card balance on your behalf.

Accidental Death: In case of Accidental Death an additional amount equal to the outstanding on your credit card will be paid to the beneficiary nominated.

The insurance coverage under Credit Shield Plus is subject to the Credit Card & Insurance Terms & Conditions

Key Exclusions

Some of the key exclusions are :

Death by suicide Critical illness occurring within 90 days of the commencement of the policy

Any deliberate self-inflicted injury

Flying other than as a passenger

War, Riots, AIDS, HIV

Any Critical Illness which was diagnosed prior to the Commencement Date of the Coverage etc.

Eligibility

The eligible age for enrolment under Credit Shield Plus is 21 to 59 years. However, once enrolled on the program the coverage continues till age of 65 subject to premium payments. Coverage automatically terminates after the customer reaches 65 years of age.

Family Protection Plan

Express your love...Protect your family's future

Express love for your family by ensuring their lifetime happiness & security. Get a continued insurance cover for them with the Family Protection Plan by Chartis New Hampshire Insurance Company, Pakistan Branch. The Family Protection Plan is a personal accident insurance policy that provides coverage on a 24-hour worldwide basis against the following:

Accidental Death Permanent Total Disability

Accidental Medical Expenses

Premium will be charged on your credit card or debited from your bank account on easy monthly instalments. The sums insured and monthly premium amount payable on account of sums insured are stated below:

Benefit Coverage Premium

Accidental Death (AD) & Permanent Total Disability (PTD) Rs. 1,000,000 Rs. 165

Medical Reimbursement per month Rs. 25,000

Description of the Coverages 

1. Accidental Death If an accident covered in the policy results in death of the policy holder, then the insurance sum shall be paid to the beneficiary(ies).

2. Permanent Total Disability If an accident covered in the policy disables the policy holder, the insurance sum for permanent total disability shall be paid to the policy holder.

3. Accidental Medical Expenses The underwriters shall pay doctor's fees and expenses for medicine, radiograph, hospital and other treatment.

 Eligibility and Enrollment

Customers who are below 66 years of age (65 included, 66 not included) are eligible for enrolment under Family Protection Plan. 

Secure Wallet Plan

There is a better way to secure your wallet.

Insure your wallet against loss or theft!

Citibank Secure Wallet Plan is the ultimate protection for your wallet. This is the only insurance plan that covers you against all the following risks:

Loss or theft of your credit card(s) Loss or theft of your keys and identification papers

Death or disability (due to theft/robbery)

ATM Cash Withdrawal Cover (due to theft/robbery)

Enjoy complete peace of mind while you are shopping, at work or anywhere in the world, as Secure Wallet Plan provides your wallet with the protection it needs - securing your credit cards, be they of Citibank or any other bank, keys and identification papers.

Insurance coverage is available worldwide for 24 hours a day. All financial losses are underwritten by Chartis New Hampshire Insurance Company, Pakistan Branch - the leading insurance company in the world.

 

Credit Card Fraud

Secure yourself against fraudulent usage of your Citibank Credit Card or any other credit card you carry, due to loss, theft or robbery. The insurance plan covers financial loss incurred after loss of the Credit Card(s) and during 48 hours, starting from the time loss and/or theft of the Credit Card.

Secure Wallet Plan offers the following coverage against the loss or theft of credit card(s). 

Credit Card Fraud Up to Rs. 50,000 claim per month

All fraudulent transactions committed as a result of a loss or theft of a Credit Card are considered as one single loss.

 

Loss or Theft of Keys and Identification Papers

A wallet contains more than just credit cards, which is why Citibank Secure Wallet Plan covers you against the loss or theft of your keys and/or identification papers as well. 

In case of the loss or theft of keys and/or identification papers the plan refunds the expenses incurred on the replacement of the following:

Keys Up to Rs. 5,000 per claim per month

Identification Papers Up to Rs. 10,000 per claim and per month

 

Accidental Death & Disability in case of Robbery or Theft

During theft or robbery, your wallet is not the only valuable in danger. That is why Citibank Secure Wallet Plan also includes insurance coverage of Rs. 600,000 in case of loss of life or permanent disability.

Accidental DeathIf death of the policy holder is caused due to injuries inflicted on him/her during robbery/theft, whether immediately or within 180 days from the date of robbery, the insurance sum shall be paid to the beneficiary(ies).

Permanent DisabilityIf permanent disability is caused due to injuries during robbery/theft, whether immediately or within 180 days from the date of accident, the insurance sum shall be paid to the beneficiary(ies). The maximum amount payable under all options is Rs. 600,000/-

 ATM Cash Withdrawal Cover

Secure wallet provides you a heightened sense of security & peace of mind. The insurance plan covers financial losses, damages and claims arising due to theft, snatching and robbery of cash withdrawn from any ATM, within the vicinity of 200 square yards.

ATM Cash withdrawal cover Up to Rs. 20,000 claim per month

 

Benefits Coverage PremiumAccidental Death and Disability Due to theft or robbery Rs. 600,000

Rs. 199

Identification Paper Rs. 10,000Keys Rs. 5000

Insurance Cover against theft or robbery of the Cash Withdrwan from any ATM per occurance Rs. 20,000

Sum insured against fraudulent credit card transaction Rs. 50,000

Monthly premium amount will be charged on your Credit Card or debited from your bank account.

 

Eligibility

All Citibank customers between the ages of 18 and 65 years can enrol under this plan. The existing policy will stand terminated once the customer attains the age of 66 years.

 

 

SAVINGS PLAN POLICY:

Your Family’s Hopes Depend on you. Saving Plan ensures it doesn’t end with you!

Life is full of uncertain events &commitments that require planning with precision. As a responsible individual, you need to ensure that your child's future is secured and savings are preserved against the rising cost of financial obligations. For this you need a plan that offers you both, savings and protection.

Why Savings Plan?

This plan offers you a Financial Solution enabling you to spread the financial outlay of regular premium payments over the term of the policy. It’s a flexible policy that combines Savings with Life Cover. 

Key Benefits of Savings Plan Policy

Lump sum payment of Rs. 200,000 without any extra charge in the event of Death of the parent (life assured) due to Sickness or Accident.

Additional lump sum payment of Rs.1,000,000 without any extra charge in the event of Accidental Death of the parent (life assured).

Guaranteed minimum Annual Yield of 4% on accumulated cash value.

No Medical Checkups required.

Partial Withdrawal & Loan Facility available for key milestones in your child’s life.

Hedging option available to protect accumulated cash value against inflation.

Eligibility

Citibank customers holding a Citibank Credit Card and/or a Branch Banking Account between the age of 18 & 75 years are eligible to enroll into the Savings Plan. The maximum age of entry under the Savings

Plan is 75, provided no supplementary contracts i.e. Rider (Insurance) is availed. However, the built-in Life Insurance and Additional Accidental Death Benefits are available till customer age 65 and 75 years respectively.

Auto for CAW Customers

A Comprehensive Solution

Auto comprehensive coverage, including Theft, Snatching, Accidental Damage, Damage due to Natural Calamities, Terrorism and Third Party Liability underwritten by Chartis New Hampshire Insurance Company.

Additional Features

No tracker requirement on any vehicle

Free Personal accident policy of PKR 100,000

Free Home Insurance coverage of PKR 100,000

Preferential corporate rates

Travel for CAW Customers

Travel Protection Solution

Before you book your tickets or make your plans, ask yourself this vital question: “Am I covered for any eventuality?” Accidents, God forbid, can happen anytime. Medical emergency, lost baggage, lost passport, flight delay etc. You can’t stop the unexpected from happening, but you can stay protected at all times.

Chartis provides you a convenient, affordable and Schengen approved travel insurance plan. Whether you are traveling on leisure or a business trip, Chartis provides you medical, personal accident and a host of other benefits which protect you on your journey anywhere in the world.

CORPORATE BANKING:Citibank Worldwide Securities Services (WWSS) 

Citibank Worldwide Securities Services (WWSS) is a unit of Citigroup's of Global Corporate and Investment Bank. WWSS serves global issuers, investors and intermediaries through the industry's largest proprietary network, spanning 51countries. It currently provides securities services to more than 2,500 customers worldwide and has $4 trillion in assets under custody. WWSS is the industry's premier custodian of cross-border assets, top ranked global clearer and recognized leader in depositary receipt services, and agency and trust services. The local presence of WWSS, supported globally by Regional Service Centers, ensures clients of consistent transaction processing worldwide, proprietary control of clearing cycles and reduced risk in all cross-border securities transactions.

With a global leadership position in virtually every market served, Worldwide Securities Services offers corporate and institutional clients the full spectrum of custody, trust and safekeeping services. Citibank is capable of handling end-to-end transactions on a global scale that few financial institutions can match. We have been consistently recognized for our excellent execution, global consistency and local market expertise. Citibank is rated Most Acclaimed Network by the Global Custodian magazine (Industry Benchmark) - with 38 countries Top rated

Citibank's core custody product offers a range of services which include safekeeping, settlement, cash processing, income collection and corporate actions, proxy voting services and market information. 

Securities Services in Pakistan

Citibank was the first foreign bank to offer custody services in Pakistan. We offer a full range of services under our core custody product with the capability of offering value-added services such as Escrow and Depository Services. Citibank's execution capabilities cover a broad range of financial instruments, which includes equities, corporate, and government bonds and money market instruments. We have experience of operating in both the physical and scripless environment and have consistently demonstrated our ability to service the client's needs by maintaining high service standards.

We have a highly experienced team of professionals with strong local market expertise and skills who have extensive experience in dealing with local market participants such as brokers, companies, and regulatory bodies such as the stock exchange and the central depository.

Citibank has played a major role towards the development of a condusive framework to facilitate foreign portfolio investment through its close interaction with different regulatory bodies.

The bank was rated as 'Commended' with the highest scores in the Global Custodian Survey (Industry Benchmark) for 1999 for its service excellence.

Agency & Trust Services

Citibank Agency and Trust provides Trustee- and Agency-related appointments for various debt products including commercial paper, medium term notes, bonds, asset- backed securities, and mortgage- backed securities. In addition, escrow, project finance, tenders/exchanges warrant agent and other specialized agency services are also available. CATS provides a full range of support across multiple currencies, regionally and globally for issuers looking to raise short, medium and long term debt in all major markets. Citibank is known for innovative structures that are cost-efficient, replicable, and maximize speed of payment for corporations, sovereigns, and financial institutions in both developed and emerging markets.

 Securities Lending

Securities lending involves facilitating the loan of securities from lenders to fulfill the borrowing requirements of selected brokers, banks, broker/dealers, and other financial institutions and investment firms worldwide to support trading strategies and/ or settlement obligations. The depth and breadth of Citibank’s global presence differentiates our capabilities and provides direct benefits in servicing your international and domestic portfolios. We currently lend securities in over 25 countries through our global trading centers in North America, Europe and Asia providing 24-hour coverage to meet the demands of borrowers worldwide. By utilizing local market expertise through Citibank's local presence, we are able to track market movements and trading strategies. 

Depository ReceiptsDepository Receipts enable non-U.S. companies to broaden their U.S. shareholder base or raise capital through registered public offerings or private placements. Created in 1927, American Depository Receipts (ADRs) are U.S. securities that represent shares of a non-U.S. company and trade in the U.S. financial markets in U.S. dollars, similar to those of ordinary shares of U.S. companies.

Citibank provides a full range of Depository Receipt services, including liaison with the issuer, investment bank, issuer’s legal representative and regulatory agencies during the development of the program. Following the program launch, Citibank issues DRs against deposit of underlying

shares; provides transfer and registration services, account management, corporate action services. The bank also supports information needs and sets up custodian arrangements for holding shares in the issuers’ home market.

Major program types include unlisted ADRs that trade over-the-counter; listed ADRs that trade on the NYSE, Nasdaq or Amex. Citibank specializes in ground- breaking Depository Receipt offerings, creating the first:

Global Depository Receipts (GDRs) - simultaneous offerings in multiple markets; Rule 144A American Depository Receipts - sold to qualified institutional buyers only;

Singapore Depository Receipts;

American Depository Debentures - convertible debt in Depository form. 

Local Settlement Services

Citibank will handle all activities related to trade processing which include matching of trade instructions, accepting / delivering shares from brokers / counterparties, payment transfers, and monitoring of pending trades with regular status reporting on all trade settlements and pending trades.

Citibank will handle all cash processing associated with your securities portfolio in terms of payments/receipts on account of trade settlements, collection of dividends, interest payments and related expenses.

 Local Safekeeping Services

Citibank can hold shares in both physical and scripless form on your behalf. We have a vault dedicated to custody services for holding physical shares and also maintain an account with the Central Depository Company (CDC) for safekeeping and transactingscripless shares. Citibank offers registration services for physical shares which includes registration processing, monitoring, outstanding stock and timely collection of shares and transfer deeds from registrars. Citibank will provide regular reporting at each stage of the registration cycle to give an updated portfolio status.

Citibank monitors all income and corporate action events relating to its client's portfolio by providing timely information on announcements, accrued entitlements and receipt of these entitlements on issuuance date. Citibank will collect all dividend and interest income or shares from companies on maturity or issuance date. Citibank will monitor all due dates and conduct follow up on all pending items.

Citibank assists clients in corporate governance through our proxy-voting services. We provide comprehensive reporting on all events relating to AGM or EGM announcements and make representation on your behalf at meeting to execute voting instructions.

 

Other Local Services

Market Information

We keep our customers abreast of all market developments in the form of changes in market regulations, procedures, infrastructural changes and any other event which can materially impact their investments.

Reporting

Citibank will provide securities portfolio valuation, transaction activity and cash statements on a monthly basis. Additionally, we are willing to provide any special reporting which you require concering your portfolio in the desired format.

Systems Overview

Citibank's back end securities processing system (SESAM) captures all activities relating to our securities processing facilitating efficient reporting and ready access to information relating to the client's portfolio.

Trade

Trade & Finance Services is an integral part of Citibank's product offering. In addition to a variety of plain vanilla trade products we offer innovative and efficient solutions structured to meet customer needs.

Customers: Citibank has a very wide customer base. Our clients range from large multinationals to small local companies, from public sector names to financial institutions. Also we are always looking to expand our trade product customer base. Citibank has a separate trade product unit and dedicated operations, all aimed at meeting customer needs and providing the best financial service possible.

E-Commerce: At Citibank we take pride in being technology leaders. World over our focus is on E-Commerce and electronic banking. In Pakistan we are also investing heavily towards this end.

International Trade: Citibank's single biggest strength is its global connectivity and access. This advantage helps us in providing better service and faster turnaround to our customers involved in international trade.

Domestic trade: Realizing the importance of domestic trade and its requirements, Citibank has structured innovative products to fulfil customer needs involved in local buy & sell activities.

Following is a brief description of some of the generic trade products that we offer:

Exports

Different trade products offered for exporters are: Bill Negotiation: Bill / document negotiation is for export letters of credit and / or firm

contracts. Negotiation means to give value to the beneficiary for drafts (drawn at sight) and / or documents, as distinct from merely examining & forwarding them to the issuing bank.

A bank, which has not confirmed the credit, negotiates with recourse to the beneficiary in the event of non-acceptance / payment by the issuing bank, a confirming bank negotiates without such recourse.

Bill Discounting: Discounting is for usance bills called under LC's. It must contain a Bill of Exchange (Demand for payment, amount must be same as the commercial invoice amount) and the bill must be accepted by the drawee i.e. the issuing bank. The bill is normally re-discountable locally to a discount house or another bank.

Post Shipment Finance: Post shipment finance is a variation of a demand loan with a loan repayment linked to the maturity of the bills drawn against LC' or contract. Post shipment finance is offered against sight as well as usance bills.

Export Refinance: Export Refinance is a scheme under State Bank of Pakistan (SBP) to promote Pakistani Exports. Under this scheme, an exporter may avail finance from any scheduled bank at a concessional rate.

Imports Issuance of import LC's: It is a firm undertaking issued by Citibank on behalf of its

customer / importer in favor of the exporter / seller outside the country. The issuing bank is responsible for the payments to the buyer, provided the terms of the LC's are fulfilled. (LC's in Pakistan are subject to UCP 500)

Inward Collection: It is an option using which a Citibank Pakistan customer / importer can import without opening a letter of credit. There are two types of collections

D / A: Documents against acceptance 

D / P: Documents against payment It is a less costly and more efficient method of importing goods than through opening a LC.

FX Forward cover for imports / repat loans: It is a tool which importers use to hedge against FX rate risk. They book at today's foreign exchange rate for an import deal happening at a future time period. (3 months / 6 months etc)

Guarantees

A guarantee is issued by Citibank Pakistan (Guarantor) on behalf and on request of customer (applicant) in favor of a third party (beneficiary), for the fulfillment of certain defined obligations by the applicant.

Usually Citibank issues the following types of guarantees:

Tender Guarantees (Bid bonds): Some tenders require the bidders (Citibank customers) to furnish bank guarantees to prevent the bidder from withdrawal from the bid / contract if successful in the tender.

Performance Guarantees: A performance guarantee, by Citibank on behalf of its customers, assures the beneficiary of delivery of goods and services in accordance with the terms and conditions of the contract.

Advance Payment Guarantees: Citibank will guarantee that the advance payment by the beneficiary to Citibank's customers will be utilized for performance of the contract for which the cash was advanced.

Financial Guarantees: Any guarantee provided by Citibank on behalf of the customer for any financial requirements or deals can be broadly classified as financial guarantee.

Open ended Guarantees: These guarantees do not have an expiry date and a standard liability clause and return clause (SLC&RC).

Back-to-Back Guarantees: A guarantee issued by Citibank Pakistan in favor of a beneficiary based on a primary guarantee (counter guarantee) issued in favor of Citibank by an overseas

Industry First

The team has continuously been recognized as being one of the best in the market and was awarded the prestigious #1 Euromoney FX Bank in Pakistan for 2010.

We are committed to delivering the best possible products and services and our success is continually acknowledged through recognition such as Euroweek magazine’s award for best

bookrunner of Asian currency bonds and Finance Asia magazine’s award for Best Cash Management Bank

Corporate Derivatives Poll - 2009

#1 Cross-Currency Swaps

#1 Currency Options

#1 Currency Forwards

#1 Currency Derivatives (G7 ex.Yen)

Islamic Product House of the Year

Risk Poll - 2008

Energy Risk Manager of the Year

       Awards – 2010

Best in Corporate Liability Management

Awards – 2008

Best in Derivatives

Awards – 2007

Best Provider of Derivative Solutions

       Best Banks Awards – 2009

Best Bank for Spot FX

Best Bank for Dollar/Yen

Best Bank for Credit-Linked Swaps

Best Banks Awards – 2008

Best Bank for Spot FX

Best Bank for Currency Options

Best Bank LATAM Currencies

Best Bank Overall for FX

Best Bank for FX Structured Products

Best Bank for Dollar/Yen

       FX Poll All Products – 2010

#1 Corporate Market Share

#1 in CEEMEA

#1 FX e-Platform Western Europe and Africa

Awards for Excellence - 2008 

Best at Risk Management 

       Digital FX Awards – 2010

Editor’s Choice Award

Best FX Prime Brokerage

Digital Markets Awards – 2010

Best Trading and Matching Platforms

Best Market Data Service

       Awards – 2010

Best Bank for Risk Management

#1 in Middle East and Africa

Awards – 2009

#1 Foreign Bank in EMEA

#1 Structured Finance House of the Year

       Poll of the Polls – 2004-2009

#1 Currency – Local Currency Products

#1 Currency – G3

Corporate Survey – 2009

#1 Structure Hedging in G7 Ex.Yen

#1 Yield Enhancement in Asia ex-Japan

Currency Products

#1 Structured Commodity Products

#1 Structured Credit Products

Investment Awards – 2009

Best Commodity Derivatives House

 

REFERENCES:http://www.citi.com/pakistan/consumer/customerserv/index.htm