Document #1222934
IRB – Immigration and Refugee Board of Canada (Author)
At the end of 1996 Pakistan had 43
commercial banks, of which 21 were Pakistani banks and 22 were
foreign (Treasury Management International 1997).
Seventeen of the 21 Pakistani banks were in the private sector and
four were in the public sector (ibid.). The Askari Commercial Bank
Limited (ACBL) is in the private sector (ibid.; Asia Pulse
1 Apr. 1998).
The Rawalpindi-based ACBL was incorporated
as a public limited company in October 1991, listed at the Karachi,
Lahore and Islamabad Stock Exchanges in 1992, and started operation
that year in April (Business Recorder 27 Sept. 1998;
Economic Review July 1997). The ACBL is a subsidiary of
the Army Welfare Trust (AsiaMoney Mar. 1996; Economic
Review July 1997). Shameem Ahmed is its president and chief
executive, and Lt. Gen. (R) Farrakh is its director (Business
Recorder 27 Sept. 1998; ibid. 2 Feb. 1999). Its chairman is
Lt. Gen. Zia-ud-Din (ibid.). The bank received numerous awards from
various international bodies for its outstanding performance in
1995, 1996 and 1997 (Business Recorder 27 Sept. 1998;
ibid. 2 Feb. 1999; Economic Review July 1997).
Business Recorder has described the ACBL as "having
established itself as a star performer among the new domestic
private commercial banks in the midst of crumbling, scandalised and
fossilised banking system" (27 Sept. 1998), and as "contin[uing] to
be a front runner among banks" (2 Feb. 1999).
In July 1997 the ACBL had 20 branches
throughout the country (Economic Review July 1997) and by
September 1998, it had 24 branches, with five branches in Lahore,
four in Karachi and two in Peshawar (Business Recorder 27
Sept. 1998).
Only three addresses for the ACBL branch
offices in Lahore could be found: (1) 7-A Shahrah-eAiwan-e-Tijarat
(Yellow Pages National Directory 1996-97 n.d., 90;
Jamal's Yellow Pages of Pakistan n.d.(a); ibid. n.d.(b);
Financial Institutions n.d.). Mr. Shaukat Ali is the branch vice
president and acting manager (ibid.); (2) 162 Tufail Road, Cantt.
(Yellow Pages National Directory 1996-97 n.d., 90); (3) 77
Circular Road (ibid.). Although Yellow Pages National Directory
1996-97 lists five entries for ACBL, three are located at the
same address (ibid.).
This Response was prepared after
researching publicly accessible information currently available to
the Research Directorate within time constraints. This Response is
not, and does not purport to be, conclusive as to the merit of any
particular claim to refugee status or asylum.
References
AsiaMoney [n.p.]. March 1996.
"Army Welfare Trust: Marching Ahead." (NEXIS)
Asia Pulse [n.p.]. 1 April
1998. "Pakistan's Askari Bank Profit Up by 30 PCT Over 1996." (AAP
NEWSFEED/NEXIS)
Business Recorder
[Karachi/Lahore]. 27 September 1998. "Askari Commercial Bank
Limited." http://www.businessrecorder.com
[Accessed 1 Sept. 1999]
Economic Review [n.p.]. July
1997. "Army Welfare Trust; Industrial Pakistan 1997: Industrial
Groups." (NEXIS)
Financial Institutions. n.d. Local
Banks. http://www.pvtc.com
[Accessed 1 Sept. 1999]
Jamal's Yellow Pages of
Pakistan. n.d.(a). "Askari Commercial Bank." http://www.jamal.com [Accessed 1 Sept.
1999]
_____. n.d.(b). "Askari commercial Bank
in Lahore." http://www.jamal.com
[Accessed 1 Sept. 1999]
Treasury Management
International. 1997. "Pakistan: The Banking System." http://www.treasury-management.com
[Accessed 1 Sept. 1999]
Yellow Pages National Directory
1996-97. N.d. PTRC Authorised. Islamabad: Transworld Publicity
Pakistan.