Summit Bank Internship Report 38j4i

1. Introduction

Summit Bank Ltd is one of the fastest growing commercial banks of Pakistan, which, in a very short span of time, has expanded its network across the country and built an infrastructure based on state of the art “Risk Management Framework” as well as “IT platform.” Also targeting to be a universal bank in of providing products and services in all key segments of banking i.e. Corporate and Investment Banking, Trade Finance, Commercial Mid Market / SMEs, and Consumer Banking, it commenced its operations in August 2006.

The Pakistan operations of Rupali Bank Limited were acquired by Arif Habib Securities Limited under the Scheme of Amalgamation approved by the State Bank of Pakistan. The name of Rupali Bank Ltd was subsequently changed to Arif Habib Rupali Bank Ltd and then finally to Arif Habib Bank Ltd in October 2007. On 31st March 2010, Suroor Investments Ltd, a company incorporated in Mauritius, acquired 59.41% stake in Arif Habib Bank Ltd from Arif Habib Securities Ltd, and on 18th August 2010, Arif Habib Bank Ltd was rebranded as Summit Bank Ltd.

Suroor Investments Ltd, also entered into share purchase agreements (SPAs) with majority shareholders of MyBank Ltd and Atlas Bank Ltd, who after completion of the transactions have merged in Summit Bank Ltd expanding the Bank’s geographical outreach with a network of 187 Real – Time Online branches across the country. In line with the management’s vision of making this bank a front runner amongst its peer banks, this merger has brought synergies and access to a wider range of markets and customers.

By acquiring one of the best IT platforms of the world, offering web and SMS based banking to the customers besides providing superior MIS to the 1

Management; the Bank is committed to be recognized as a preferred supplier of financial services to the markets it serves. To achieve these goals, the Bank will strengthen itself in the financial service industry, leverage optimal mix of technology to attain operating cost efficiencies, achieve product and service differentiation, while at the same time growing its footprint through further expansion of its branch network across the country, because we are committed to you.

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1.1 Vision and Mission Our Vision To be the preferred provider of financial products & services to the markets.

Our Mission 

To be a financial institution based on Trust, Integrity, and Good Governance.

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To deliver financial solutions to our customers.

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To provide equal opportunities & professional working environment to our employees.

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To provide fair return to our shareholders on their investment.

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To serve the community at large.

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To discharge corporate social responsibility.

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1.2 Credit Rating Rating Type: JCR – VIS Rating Agency

Short Term

JCR-VIS

A-2

Subordinate Medium to d Debt Outlook Long Term Instrument AA- (SO) Stable

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1.3 Board of Directors Mr. Nasser Abdullah Hussain Lootah Chairman Mr. Husain Lawai President and CEO Mr. Nasim Beg Director Mr. Asadullah Khawaja Director Mr. Farid Uddin Director Mr. Shehryar Faruque Director Mr. Muhammad Zahir Esmail Director

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1.4 Management Committee Husain Lawai President and CEO Muhammad Zahir Esmail Chief Operating Officer Syed Mohammad Anwar Lutfullah Group Head IT & Operations, Consumer Banking, Home Remittance and Corporate Communication Ahsan Raza Durrani Group Head Corporate & Investment Banking and Capital Market Gulrays Khan Group Head Human Resource & istration and Compliance & Control Faisal Shaikha Head of Treasury & Financial Institution Division Imran Ahmed Group Head Enterprise Risk Management and Credit istration Aziz Morris Head of Internal Audit Muhammad Shakir Abbasi Head of Islamic Banking Muhammad Najeeb Khan Shariah Advisor – Islamic Banking Syed Imran Hashmi Acting Chief Financial Officer & Company Secretary Habib-ur-Rehman Group Head Special Asset Management & Fraud Management

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1.5 Generate & Validate IBAN International Bank Number (IBAN) is an international standard for identifying bank s. The main purpose of IBAN is to facilitate automatic processing of money transfers as well as improve the speed and accuracy of your payment transactions. The Central Bank regulation for transactional use of IBAN will be effective as of 1st July 2013. All banks in Pakistan are required to accept and process payment instructions with IBAN. The State Bank of Pakistan (SBP) has decided to introduce and implement IBAN – International Bank Number in Pakistan. IBAN is an international standard for structuring numbers. It is globally used in transaction processing, especially in cross border remittances. IBAN will be operationally used both for international and domestic financial transactions in Pakistan from the 1st of July 2013. In compliance with Central Bank Circular ‘PSD Cir Let No 2 of 2012 IBAN Implementation Guidelines’, Summit Bank has successfully applied the International Bank Number (IBAN) to all Summit Bank s.

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2. Islamic Banking Islamic banking (Arabic: ‫ )المصرفية اللسليمية‬is banking or banking activity that is consistent with the principles of sharia and its practical application through the development of Islamic economics. As such, a more correct term for ‘Islamic banking’ is ‘Sharia compliant finance’. Sharia prohibits the fixed or floating payment or acceptance of specific interest or fees (known as riba, or usury) for loans of money. Investing in businesses that provide goods or services considered contrary to Islamic principles is also haraam (“sinful and prohibited”). Although these principles have been applied in varying degrees by historical Islamic economies due to lack of Islamic practice, only in the late 20th century were a number of Islamic banks formed to apply these principles to private or semi-private commercial institutions within the Muslim community. 2.1 Islamic Banking Products 2.1.1 Business Businesses tend to enjoy flexibility while remaining cost effective. Business (BA) offers flexibility of a conventional current including unlimited transactions option and offers value added services in a Shariah complaint manner. Additionally customers are entitled to a share of distributable profit as per assigned weightages. Salient Features: Business (BA) will be opened in Pakistani Rupees. The can be opened with PKR 1,000/-. The profit payable will be calculated on daily average balance and payment of profit will be on monthly basis. The share of profit in this type will be minimal keeping in view that its main purpose is to provide low cost banking to the depositor under exemption allowed by SBP (IBD Circular No 3 of 2012). Zakat & other levies will be applicable as per governing laws BA holder will be eligible for 100% waiver of Schedule of Charges for the following services* No limit on number of Transactions Online Transaction Facility Visa Debit Card Issuance Cheque Book Issuance Issuance of Pay Order Cancellation of Pay Order SMS Alerts Duplicate Pay Order Issuance 8

Duplicate Statement Services listed above will be offered on the basis of maintaining a daily average balance of at least Rupees Twenty Five Thousand only (Rs 25,000/-). Number of free transactions allowed will be determined by the bank from time to time, and on case to case basis, and will be timely communicated to the holder. Contract & Mechanism: BA will be accepted on the basis of Mudarabah(Aform of partnership). The Bank will be the Mudarib and the Investment Holders (IAHs) / Depositors will provide funds for investment to earn Halal profit / benefit, identified as Rab-ul-Maal. The funds so deposited will be invested in an Investment Pool which will be managed by the Bank in capacity as Mudarib (Managing Partner). The IAH is eligible to share Profit from the respective investment pool according to his / her deposit in a predetermined ratio adjusted by weightages assigned to each category of remunerative deposits. This is calculated on calendar month basis. The Profit or Loss declared by the Bank, as stipulated herein, shall be considered as final and binding on all the holders. The Bank in this capacity as Mudarib will also be entitled to a share of the distributable profit. The Bank may also choose to invest its own Funds. In this case the Bank will share profit in addition to its share as Mudarib. Accordingly, in case of loss in the respective pool, it (Loss) will be shared between the IAHs and the Bank as per ratio of their investments in that pool. Who Can Participate? may be opened in the name of persons and bodies mentioned below upon being properly introduced in a manner approved by the Bank (provided that their source of income is not received from any prohibited source as per the Shariah principles): Individuals Sole Proprietorship concerns Partnership Firms Limited Companies (Private & Public) Trust Here is What You Receive For Free* Outward Clearing Charges for Cheques returned unpaid. Internet Banking Facility. E-Statement of s. Value Added Services. Special Value Added Services. 9

Loads of Other Services.

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2.1.2 Daily Savings Daily Savings (DSA) is an investment-cum-transactional . The product is designed for those customers who have high day-end balances on a particular day while low on others and wish to get rewarded for their high days. The money can be deposited and withdrawn at will with or without notice viz a viz through Cheque / ATM/ Debit Card / Electronic means (Net Banking etc.) or through written instructions. Salient Features: Daily Savings (DSA) will be opened in Pakistani Rupees. The can be opened with PKR 1,000/-. Minimum Balance requirement is PKR 1,000/-. Profit will be calculated on day-end balances(Daily Product basis) and payment will be made on monthly basis. Zakat & other Levies will be applicable as per governing laws. Contract & Mechanism: DSA is an “Investment for profit” governed under the rules of Mudarabah (A form of Partnership) with a vision to provide a bouquet of valuable services along with return on the investment. Profit payout will be made monthly. DSA will be accepted on the basis of Mudarabah. The Bank will be the Mudarib and the Investment Holders (IAHs) / Depositors will provide funds for investment to earn Halal profit / benefit, identified as Rab-ul-Maal. The funds so deposited will be invested in an Investment Pool which will be managed by the Bank in capacity as Mudarib (Managing Partner). The IAH is eligible to share Profit from the respective investment pool according to his / her deposit in a predetermined ratio adjusted by weightages assigned to each category of remunerative deposits. This is calculated on calendar month basis.The Profit or Loss declared by the Bank, as stipulated herein, shall be considered as final and binding on all the holders.The Bank in this capacity as Mudarib will also be entitled to a share of the distributable profit. The Bank may also choose to invest its own Funds. In this case the Bank will share profit in addition to its share as Mudarib.Accordingly, in case of loss in the respective pool, it (Loss) will be shared between the IAHs and the Bank as per ratio of their investments in that pool. Who Can Participate? may be opened in the name of persons and bodies mentioned below upon being properly introduced in a manner prescribed by the Bank 11

(provided that their source of income is not received from any prohibited source as per the Shariah principles): Individuals Sole Proprietorship concerns Partnership Firms Limited Companies (Private & Public) Clubs, Societies and Association Foreign Missions / Diplomats Agents s Trust NGO / NPO’S / Charities Branch Office / Liaison Office of Foreign Companies Executors and s Government / Provincial / Local Government and Armed Forces (Including Allied s) Here is What You Further Receive for FREE* Fund Transfer within Summit Bank Ltd via ATM, Web & Branch Network. Issuance of Pay Order. Outward Clearing Charges for Cheques returned unpaid. Issuance of Islamic Visa Debit Card for 1st Year. Internet Banking Facility. E-Statement of s. Value Added Services. Special Value Added Services. Loads of Other Services. 2.1.3 Bachat Savings Bachat Savings (BSA) is an investment-cum-transactional . The money can be deposited and withdrawn at will with or without notice either by Cheque / ATM / Debit Card / Electronic means (Net Banking etc.) or through written instructions. Salient Features: Bachat Savings (BSA) will be opened in Pakistani Rupees. The can be opened with PKR 1,000/-. Minimum Balance requirement is PKR 1,000/-. Profit will be calculated on monthly average balance and payment will be Biannually. Zakat & other Levies will be applicable as per governing laws. 12

Contract & Mechanism: BSA is an “investment for profit” governed under the rules of Mudarabah (A form of Partnership) with a vision to provide a bouquet of valuable services along with return on the investment. Profit payout will be made Bi-annually. BSA will be accepted on the basis of Mudarabah. The Bank will be the Mudarib and the Investment Holders (IAHs) / Depositors will provide funds for investment to earn Halal profit / benefit, identified as Rab-ul-Maal. The funds so deposited will be invested in an Investment Pool which will be managed by the Bank in capacity as Mudarib (Managing Partner). The IAH is eligible to share Profit from the respective investment pool according to his / her deposit in a predetermined ratio adjusted by weightages assigned to each category of remunerative deposits. This is calculated on calendar month basis. The Profit or Loss declared by the Bank, as stipulated herein, shall be considered as final and binding on all the holders. The Bank in this capacity as Mudarib will also be entitled to a share of the distributable profit. The Bank may also choose to invest its own Funds. In this case the Bank will share profit in addition to its share as Mudarib. Accordingly, in case of loss in the respective pool, it (Loss) will be shared between the IAHs and the Bank as per ratio of their investments in that pool. Who Can Participate? may be opened in the name of persons and bodies mentioned below upon being properly introduced in a manner prescribed by the Bank (provided that their source of income is not received from any prohibited source as per the Shariah principles): Individuals Sole Proprietorship concerns Partnership Firms Limited Companies (Private & Public) Clubs, Societies and Association Foreign Missions / Diplomats Agents s Trust NGO / NPO’S / Charities Branch Office / Liaison Office of Foreign Companies Executors and s Government / Provincial / Local Government and Armed Forces (Including Allied s) Here is What You Further Receive for FREE* 13

Fund Transfer within Summit Bank Ltd via ATM, Web & Branch Network. Issuance of Pay Order Outward Clearing Charges for Cheques returned unpaid. Issuance of Islamic Visa Debit Card for 1st Year. Internet Banking Facility. E-Statement of s. Value Added Services. Special Value Added Services. Loads of Other Services. 2.1.4 Islamic Certificates Islamic Savings Certificate (ISC) is a range of “Investment for profit” Halal products with fixed maturities. Investments can be made with wide range options from 1 month to 5 years term with various profit payout frequencies. Profit payout may be made: At the time of maturity (Profit at Maturity), or Periodically i.e.Monthly, Quarterly, Biannually or Annually. Salient Features: Islamic Savings Certificate (ISC) will be opened in Pakistani Rupees. Investment can be made with wide range of options from 1 month to 5 years. Minimum Investment required for Maturity Option is PKR 10,000/- and for Periodic Profit Payment Option is PKR 25,000/-. Pre-mature encashment option is available Zakat and other Levies will be applicable as per governing Laws Contract & Mechanism: ISC will be accepted on the basis of Mudarabah. The Bank will be the Mudarib and the Investment Holders (IAHs) / Depositors will provide funds for investment to earn Halal profit / benefit, identified as Rab-ul-Maal. The funds so deposited will be invested in an Investment Pool which will be managed by the Bank in capacity as Mudarib (Managing Partner). The IAH is eligible to share Profit from the respective investment pool according to his / her deposit in a predetermined ratio adjusted by weightages assigned to each category of remunerative deposits. This is calculated on calendar month basis. The Profit or Loss declared by the Bank, as stipulated herein, shall be considered as final and binding on all the holders. The Bank in this capacity as Mudarib will also be entitled to a share of the distributable profit. The Bank may also choose to invest its own Funds. In this case the Bank will share profit in addition to its share as Mudarib. Accordingly, in case of loss in the respective pool, it (Loss) will be shared between the IAHs and the Bank as per ratio of their investments in that pool. 14

Who Can Participate? ISCmay be opened in the name of persons and bodies mentioned below upon being properly introduced in a manner prescribed by the Bank (provided that their source of income is not received from any prohibited source as per the Shariah principles): Individuals Sole Proprietorship concerns Partnership Firms Limited Companies (Private & Public) Clubs, Societies and Association Foreign Missions / Diplomats Agents s Trust NGO / NPO’S / Charities Branch Office / Liaison Office of Foreign Companies Executors and s Government / Provincial / Local Government and Armed Forces (Including Allied s) Types of ISC: The following ISC types may be offered from time to time at the discretion of the bank: Profit Frequency Minimum (PKR)

Payment Investment

Monthly Quarterly

Half yearly

Annually Maturity

25,000 25,000

25,000

25,000

10,000

Tenors 1 month

√

2 months

√

3 months

√

6 months

√

1 year

√

√

√

√

3 years

√

√

√

√

√

5 years

√

√

√

√

√

Here is What You Further Receive for FREE* Fund Transfer within Summit Bank Ltd via ATM, Web & Branch Network. 15

Issuance of Pay Order. Outward Clearing Charges for Cheques returned unpaid. Issuance of Islamic Visa Debit Card for 1st Year. Internet Banking Facility. E-Statement of s. Loads of Other Services.

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3. Deposit Products

v 3.1 Summit Classic Current Reward yourself with enhanced privileges through Summit Classic Current . Exclusively designed to meet your diverse financial needs, this classic offers you benefits that are beyond your imagination. Bank …exceeding expectations Key Features: One with a bundle of product Minimum monthly average balance as low as Rs. 50,000/Up to 3 Visa Debit Cards free. Special Retirement Or Investment Insurance Plan at only Rs. 2000/month (bancassurance) Loan Facility (secured) with special rates Standard Features Collection Cheque (Local), Retained Mail, Stop Payment, Cheque book Issuance (25 leaves), Debit Card Issuance, Debit Card Annual Fee Waiver, Statement Issuance, Balance Certificate, Lockers (small – waiver of rent only), Standing Instruction Fee, Inward Remittances –Local & Foreign, Collection of Local & Foreign Currency Cheques, Statement of s, Returned Cheques, Online Statements, Online Banking, Mobile Banking, Personal /Accidental Insurance, Cash Withdrawal Insurance. *Minimum deposit required is Rs. 50,000/- & subject to Insurer’s & Conditions

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3.2 Current Summit Bank Current is a convenient and secure way of holding your money in local and foreign currencies. The key features of this are as follows: Non-interest bearing Starter cheque book issued when the is opened Unlimited free-of-cost transaction facility No deduction of Zakat Choice of periodic statements (monthly, quarterly, half-yearly and annual) by post Access to statement anytime through Internet Banking facility transaction information through SMS Free issuance of VISA debit card Cash withdrawal through large ATM network

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3.3 Saving

3.3.1 PLS Saving Summit Bank’s Savings is the most convenient way to manage your savings in local and foreign currencies. Our Savings has been designed to provide you with easy access to your money, as well as a higher rate of profit. Key features of these s are as follows: Starter cheque book is issued when the is opened No penalty on minimum balance not being maintained Choice of periodic statements (on monthly, quarterly, half-yearly and annual basis) by post. Access to your statement anytime through our Internet Banking and e-Statement facilities transaction information through SMS Free issuance of a VISA debit card Easy cash withdrawal through a vast network of ATMs

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3.3.2 Term Deposits Term Deposits are offered by Summit Bank to the following types of customers: Individuals (single or t) Minors (to be operated by the guardian) Charitable institutions Provident fund & other funds of benevolent nature Local bodies Autonomous corporations Limited companies Firms, associations, educational institutions, financial and other institutions who intend to retain their deposits for a fixed period in order to earn a higher rate of profit.

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3.3.3 Mahana Amdan Deposit Limits Rs. 50,000 up-to Rs.10 million Rate of Profit Expected Rate of Term Deposits Profit 3 Months 6.75% 6 Months 7.00% 1 Year 7.25% 2 Year 7.50% 3 Year 8.00% Notes: These are not rack rates. All & Conditions must be according to the scheme. These rates are not applicable for any amount which is less than Rs. 500,000. In case of any deposit of more than Rs. 5 million, the Treasury front office may be ed for improvement of rates. In case of premature encashment, the depositors will be paid at the rack rate of last completed tenor on the broken period. These rates cannot be offered to Financial Institutions, e.g. Banks, DFIs, Investment Banks, Leasing Companies and Mutual Funds. Eligibility: All individuals and institutions are eligible for this . Period of Deposit 6 months, 1 year, 2 years & 3 Years

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Special Benefits Free VISA debit card Monthly profit will be credited in the depositor’s and can be withdrawn through cheque or ATM, free of charge Deposit will be rolled over on maturity for the same period at the rates prevailing on the date of maturity, unless otherwise requested by the customer. Free Internet Banking Free issuance of pay orders and demand drafts Free SMS updates for the first three months (applicable from the date of opening) Conditions Profit is subject to Zakat, withholding tax and other taxes are imposed from time to time, unless exempted. Regular declared TDR profit rates [for the last completed period of deposit] will be paid on premature encashment.

3.3.4 Daily Product Take advantage of our Daily Product , which is a unique where your money begins earning interest as soon as you make a deposit. Interest is calculated on your daily closing balance and credited to your monthly, which means you make money from the day of initial deposit to the day that you withdraw your funds. It’s a simple way to start growing your savings right away. The minimum amount required to open this is Rs. 25,000. It is an that raises your own money(deposit) on daily basis.

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3.3.5 Hamara Summit Family Savings Fostering the bond that exists with its customers, and to better serve their financial needs, Summit Bank has come up with ‘Summit Family Savings ’ – a unique savings offering superior returns and a host of free services. As a trendsetter, Summit Bank brings a solution to assure parents of their commitment to their children. With more values, more expertise and more solutions, Summit Bank innovates a savings that serves the entire family. Get your entire family to bank with Summit Bank, and enjoy vast privileges and unique benefits that go hand in hand with Summit Innovations. Here’s how it Works Grouped s for the family Initial Investment Requirement-Rs.5,000/Minimum Balance Requirement-Rs.5,000/Attractive return of 6% Additional 2% as bonus feature* Up to Five free Visa debit cards Minors can make purchases and withdraw cash at ATMs via the Visa Debit Card Here’s what you get SMS alerts Mobile Balance Recharge Visa Debit Cards Internet Banking ATM Cash Withdrawal Insurance 23

Personal Accidental Insurance Utility Bill Payment through SMS/ATMs/Internet and/or Centre ATM Intra-Bank Fund Transfer Lockers Eligibility The customer ID of the primary holder will be the family ID. The Primary holder CANNOT be a minor. Minimum 2 and maximum 5 can be grouped under a single Family Savings

3.3.6 Summit Advantage Offering beyond expectations, Summit Advantage meets all your requirements of satisfactory banking, convenient financing needs and more. Summit Advantage is a unique combination of exceptional returns on your investment coupled with a facility to avail up to 70% financing; and that’s not all, it comes with an added advantage of no additional mark up! This unique offer is for those who want to conserve their savings but still want to avail a convenient financing facility to manage periodic cash flow needs. Offering superior returns on your valuable savings and charging no extra mark up on your loan financing –with Summit Advantage, you cannot aspire for more. Select Summit Advantage to experience an ultimate in banking innovation. Key Features: Maximum Loan up to 70% of the deposit with no additional markup (8.50% p.a.) Exceptional returns up to 8.5% p.a. Monthly profit payout Term: 1 year

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Minimum investment of Rs 100,000/- with a maximum limit of up to Rs 50,000,000 Access to a range of value added facilities Free Facilities: Visa Debit Card Internet Banking

3.3.7 Young Bee The young bee is a magical world of saving with many adventures waiting for you! We are here to make your life adventurous and fun! Now you can save money to dine and shop with your friends by using your Young Bee Debit Card. Enter The Hive It is simple to become a part of our hive. Visit any branch of Summit Bank and ask the Bank Officer to give you a Young Bee opening form. Fill out the form completely and hand it over to the Bank Officer. You are now ready to enter the magical world! Adventures of Young Bee Welcome Gift When you open your Young Bee , you will be presented with a Welcome Pack. The Welcome Pack comes with your Young Bee Debit Card, Young Bee Guide and a Stationary Pouch. Saving is Exciting Saving is fun and it makes us responsible. Saving money not only teaches us how to spend wisely but it also has its adventures. Saving money allows us to buy bigger things we normally can’t afford to buy, like a video game, a bicycle or even dining at McDonalds. 25

Young Bee Debit Card The Young Bee Debit Card is just like cash but much more convenient. It is quick, safe and works everywhere. You can charge your Card anywhere you wish. Shop with your Debit Card instead of Cash, feel safe and enjoy Young Bee adventures.

Fun at McDonalds Now there will be more fun at McDonalds with your Young Bee Debit Card. Shop with your card and earn McDonalds Meal Points. Use your points at McDonalds and enjoy amazing deals. Apart from Meal Points, you will have special DEALS at McDonalds for Young Bee Debit Card Holders.

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4. Call Deposit Receipt Call Deposit Receipt is a form of non-profitable guarantee certificate issued to Government & Semi-Government Institutions, Corporations and SemiAutonomous Bodies as a security deposit in favor of any tender. The beneficiary can at any time deposit the CDR in their . Summit Bank facilitates all customers to avail this service without having an with the bank.*

5. Rupee Traveller Cheques Summit Bank’s Rupee Traveller Cheques enable you to travel with complete peace of mind! Summit Bank’s Rupee Traveller Cheques provide a safe and secure solution that acts as an alternative to the carrying of cash for travel and everyday use. These Cheques are currently available in the Rs. 10,000 denomination 27

and can be issued to individual PKR holders of Summit Bank. You can encash your Traveller Cheques through any Summit Bank branch across Pakistan.

6. Corporate and Investment Banking Our mission is to serve all corporate requirements and ensure full satisfaction through product innovation, personalized banking, and top notch service. Our Corporate & Investment Banking Group focuses on attracting and serving Blue Chip Customers. Our forte is providing exemplary customer service using the “Single Window” concept and “Product Superiority”. Our Corporate Banking Group comprises a seasoned team of Relationship Managers (RMs) to meet the demanding service standards of Corporatations & Businesses enabling us to provide timely and effective financial solutions for our customers to meet the growing challenges of a global economy. Our RMs have the expertise you need to create tailored financial solutions catering to the specific requirements of your business. Whether its establishing a new venture or expanding an existing business, our team understands the banking needs of businesses, and works closely with them to help them realize their goals. Some of our Specialist areas in Corporate Banking include: 

Running Finance, Short Term & Long Term Finance, Financing against Imported Merchandise (FIM), Cash finance and Export Re-finance.



Pre and Post Shipment Export Financing (PKR and USD based)



Import Financing (PKR and USD Based).

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Trade Services including Letter of Credit (Sight & usance), Letter of Guarantee and Standby Letter of Credit, etc.

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

All other services with respect to the requirement of business of borrower are provided here.

Our specialist area in Investment Banking include: 

Project & Structured Finance



Syndications & Debt Capital Market



Equity & Advisory



Bonds o Structured Finance o Leveraged Buyouts o Privatization o Equity Underwriting & Placement o Mergers o Corporate Restructuring o Syndicated Loans o Project Finance o Private Equity o Equity De-Listing o Acquisitions

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6.1 FI and Cash Management Financial Institutions Services FI & Cash Management is the function of Corporate / Investment Banking & Treasury. In FI, we maintain relationships with all Financial Institutions around the globe. Our main functions are: 

Treasury Lines initiation



Nostro / Vostro s relationships



Trade in routing L/Cs



Country / Bank Lines initiation and management



Inland Banking Arrangements

Cash Management Services In recent years, Cash Management has gained importance to become a focal point of attention for Corporate. The ongoing economic instability in Pakistan has also heightened the need for greater risk management and controls. Summit Bank Ltd. (SMBL) has accepted the challenge to provide its customers with Cash Management solution which allows them to better predict and manage their cash flows, thereby also allowing them to focus on their core business. SMBL is endeavouring to bring new and improved products to its customers that provide them with optimal solutions in the most effective and efficient manner.SMBL’s focus is to serve its corporate clients by pursuing efficiency with growth and profitability. Out primary focus is on efficient management of customers’cash flows along with the financial products designed to fit every client’s specific needs.

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Cash Management Cash management is the Department where we not only provide the total reconciliation of the customer’s transaction but also provide the in any level required to maintain or increase the liquidity in our Bank. Cash management is the process of Pay–In and Pay–Out from the .

6.2 Commercial and SME Banking Our Commercial & SME Division targets Medium Sized Companies with a turnover of at least PKR 25 – 50 million. We have a centralized set up and have the ability and the resources to meet the needs of your business with our pro-active, responsive and experienced Relationship Managers who are committed to understanding your business. If you have a small or mediumsized business, SMBL can assist you with the right mix of banking services that will help you manage and grow your business. Our experts will facilitate you in the varied financial situations that you come across. We offer financing for the following: 

Working Capital Financing



Procurement of Inventory



Receivables financing



Procurement of Machinery



Expansion of production facilities



BMR



Import / Exports

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

Guarantees

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6.3 Trade Finance Trade Finance being the prime focus of our Management, we offer wide variety of Funded and Non-Funded Trade related facilities such as: 1- Imports: Letter of Credits, Documentary Collection, Registration of Import Contracts, Advance Payments, Finance against Imported Materials, Finance against Trust Receipt, Finance against FE-25. 2- Exports: Negotiation, Discounting, Documentary Collection, Finance against Foreign Bills, Finance against FE-25, Export Refinance Facilities through State Bank of Pakistan etc. 3-Bank Guarantees: All kinds of Local as well as Foreign Guarantees. 4- Local Trade: Inland Letter of Credits, Back to Back Letter of Credits, Local Bill Discounting etc. We enjoy strong banking relationships with major local and international banks and as a result, our customer base vis-a-vis Trade Finance is growing by the day. Summit Bank has a strategic presence in virtually all major cities of Pakistan, for instance, Karachi, Lahore, Faisalabad, Sialkot, Islamabad, Rawalpindi, Peshawar, Hyderabad. The blend of Summit Bank’s specially designed Trade products with a team of trade staff having ample experience & expertise in their specialized areas of trade finance, add great value to the customers’ interest in of improved trade cycles, enhanced management of cash flow and greater flexibility.

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7 Consumer Banking Understanding trends in consumer product markets, and the financial needs of consumers, SMBL is now deg Consumer Banking services through a dedicated division. SMBL aims to aggressively grow its existing product portfolio by introducing products in phases. We provide services for deposits, consumer loans, credit cards, insurance and asset management through a customer-focused and competitive approach while closely following technological developments.With a clearly defined market segment and a solid strategic intent ed by a modern and reliable infrastructure, Summit Bank is ready to reach new heights in Consumer Banking services.

7.1 Home Finance Buying your first home is a major milestone in your life and one of the biggest financial decisions you will ever make. Helpful information combined with the right advice can make a world of difference and assist you in making the ultimate decision. Get your own shelter and deal comfortable with your house hold chores. Summit Bank has a comprehensive range of home loans schemes with solutions for everyone. The value and flexibility that Summit Bank Home Finance offers, complemented by exceptionally personalized service, is what

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makes it the right choice for you. At Summit Bank, we believe in simplicity & convenience. Summit Bank Home Finance can be sought to fulfill any of the following needs: 

Buy-a-Home & Build-a-Home



Home Renovation



Purchase of Land & Construction



Home Debt Consolidation (BTF)

The salient features of this plan are appended here-under: Minimum: Rs.300,000/Loan Amount Minimum Value

Maximum: Rs.50,000,000/Collateral

Rs.1,000,000/Minimum: 03 years Maximum: 20 years

Loan Tenor

*Proposed financing period of loan must mature 5 years prior to the expiry of lease Salaried – (K+4)

Mark-up Rate*

Type of Mortgage

Self Employed (K+4.5)

Professional

–

Self Employed (K+5)

Businessman

–

Equitable or ed Mortgage

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(as per lawyer’s advise) Bank should have a first charge on the mortgaged Equitable

property

through

Mortgage Charge Plus Token Mortgage

/

100%

ed

(as per lawyer’s advise). Property & Life Insurance will be mandatory Property Insurance

&

Life from Bank’s authorized insurance company

*K=06 Months Average KIBOR

7.2 Personal Finance Worried about how to meet all the expenses coming up at once? If you’re short of funds for your daughter’s wedding, a major surgical operation, outstanding credit card payments, house refurnishing, a new laptop, children’s education abroad or anything else, you can now breathe a sigh of relief. Personal Finance is the right solution to bring all your needs and luxuries within reach. Summit Bank takes pride in announcing the launch of another unique and valuable addition to the privileges and benefits it offers – an innovative,

36

convenient and secure way to meet your personal and family financial needs through Personal Finance. The salient features of this plan are appended here-under:

Type of Loan

Minimum: Rs.25,000/-Maximum: Rs.1,000,000/Minimum: 1 yearMaximum: 5 years Term Loan

Type of Facility

Un-Secured

Type of Markup Premature Payment Facility Loan Enhancement Facility Loan Top-up Facility

Fixed During Loan Term

Loan Amount Loan Tenor

Available Available (History Based) Available

/

Income

7.3 Bancassurance “Bancassurance” is the distribution of insurance products by banks, through their own distribution channels. We are proud to offer Bancassurance products to our valued clients through affiliations with leading Insurance companies. The unique products are designed to address a variety of our customer’s needs. Our clients can choose from the following products, which the insurance companies are offering:

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7.3.1 MetLife Alico o The Graduate Plan o The Wedding Planner o Golden Age Plan o Goals The following Optional Rider(s) can be attached with these products to enhance the coverage level on payment of additional *: Accident Care Benefit (ACB): It would provide an additional lump sum in case of death or disability due to accident. This rider would also provide cover in case of dismemberment due to accident. Income Benefit Rider (IBR): It would pay a monthly income benefit in the event of permanent & total disability of the insured. Family Protection Rider (FPR): It would pay all due basic s, from the date of permanent and total disability of the insured to the end of the FPR term. Level Term Insurance Rider: It would pay an additional lump sum in case of death of the insured due to accident or sickness. *The riders may terminate before policy maturity date depending upon the term available 7.3.2 Jubilee Life Ltd. o Suhana Kal o Sunehra Aghaz The following Optional Rider(s) can be attached with these products to enhance the coverage level on payment of additional *: Accidental Death Benefit : To provide extra protection against accidental death, an additional amount will be paid under this benefit if death occurs due to an accident.

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Waiver of : If the Life Insured suffers an illness or disability and is not able to follow his/her own occupation or any other occupation suited by knowledge, training or education for at least six months ,then the from the next due date will be paid until recovery. Critical Illness: Advances the benefit payable on death in case the insured is diagnosed as having one of the specified critical illnesses. Hospitalization Cash Rider: A daily benefit is paid if the insured is confined to a hospital. The benefit is doubled in case of hospitalization due to any of the specified critical illnesses. In case of confinement to ICU, additional 50% benefit will be payable. Spouse and children can also be covered under this benefit. *The riders may terminate before policy maturity date depending upon the term available

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8. Electronic Banking Summit Bank is one of the leading banks in Pakistan in of electronic banking. We offer our customers a diverse range of electronic services and convenient banking options through various channels, such as ATMs, mobile phones and Internet. Our Mobile Banking allows customers to avail a variety of banking services of pure SMS-based technology, including mobile balance recharge and utility bill payments, as well as information. Internet Banking is another channel on which we offer extensive banking services. Customers can view information, pay bills, transfer funds, and conduct many other transactions through their (s). Hence providing a fast, secure and convenient way to banking. Summit Bank is a member of 1LINK Guarantee Limited.

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8.1 Mobile Banking In keeping up with rapidly changing technology, Summit Bank offers you banking through your mobile. You can easily keep track of all your transactions through your mobile phone, and retrieve information whenever you want, just by typing and sending a simple SMS. Transaction Alerts Now wherever you go, your bank goes with you. Summit Bank gives you the following transaction alerts on your mobile: 

Day End Balance



All Transactions (Debit & Credit)

You can also check your transactions and balance. Customers who are already subscribed for SMS alerts are automatically eligible for this service. Just go to your write message option and type: BI for Balance Inquiry MS for Mini Statement LTC for Last Three Credit transactions LTD for Last Three Debit transactions And send SMS to 24365

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8.2 Internet Banking Summit Bank offers a secure, fast and convenient Internet Banking channel with a range of services. It will change the way you bank today. Internet Banking ensures that you have convenient access to your and banking services, no matter where you are. Services offered through Internet Banking: 

Bill Payments



Credit Card Bill Payments



Mobile Balance Recharge Facility



Funds Transfer within Summit Bank



Inter Bank Fund Transfer



View and Statement



View ATM/VISA Debit Card Transaction Details



Activate/Deactivate ATM/VISA Debit Cards



Change ATM/VISA Debit Card PIN



Manage Spend/Withdrawal Limits for VISA Debit Cards



View Status & Stop Payment of Cheques



View Consumer Loan Details 42



and Track Complaints



View Internet Transaction Activity Log

How to 

Dial 0800-24365 or



Visit your nearest Summit Bank branch

8.3 Center Summit Bank’s 24/7 Center is a state-of-the-art telephone information hub, based on cutting edge communications technology. For any queries, concerns or complaints, you can call our Center toll free, at 0800-24365 – 24 hours a day, 365 days a year. An interactive voice response (IVR) system allows you to bank directly and independently, without the need of speaking to our Phone Banking Officers. You can avail the following services through the Center: 

Balance Inquiry



VISA Debit Card Activation



VISA Debit Card Blocking & PIN Change



Utility Bill Payments



Cheque Book & Pay Order Requests



Complaint Registration 43



Statement Requests



Mobile Balance Recharge



Product & Service Information

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8.4 UPayments With the Ufone connection and Summit Bank , you can avail convenience like no other Summit Bank & Ufone brings you the convenience of banking now on your mobile phone. Activate Upayments on your mobile phone and access your Summit’s bank anytime you want. To use Upayments, all you need to have: 1. A Ufone GSM subscribed connection 2. A bank in Summit Bank Upayments gives your mobile phone power to do: 

Balance Enquiry



View Mini Statement



Transfer money



Pay Utility Bills



Load Prepaid Balance



Pay Postpaid bills

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8.5 Mobile Balance Recharge Anywhere, anytime, every network! Summit Bank’s Mobile Balance Recharge service, the first of its kind, is the easiest and quickest way of recharging your own and your friends’ and family’s mobile airtime. How to Use For your own airtime: Go to your write message option and type: <mr> space <short code of the mobile network> space And send SMS to 24365 For example, if you are a Mobilink subscriber, to re-charge an amount of Rs. 100, type: mr mk 100 And send SMS to 24365 Ufone & Warid Customers, click here to view the SMS Guide Customers who are already subscribed for SMS alerts are automatically eligible for this service. Mobile Company*

Short Code

Available Denominations

Mobilink

mk

100, 300, 600, 1000

Ufone

ue

100, 250, 500, 1000

Warid

wd

100, 250, 500, 1000

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Zong

zg

100, 300, 500, 1000

Telenor

tr

100, 250, 500, 1000

Vfone

ve

100, 300, 1000

PTCL

pl

100, 250, 500, 1000

Wateen

wn

50, 100, 250, 500, 1000, 1500, 2000

*All company names mentioned are the copyright/trademark of the respective company

8.6 Bill Payments Save your time by availing Summit Bank’s Utility Bill Payments service. You can now pay your bills through Internet Banking or sending an SMS to 24365. Open an in Summit Bank now to get this unique and efficient Bill Payment service. For further information and guidance, please call us now at 0800-24365. To pay a bill through Internet Banking, go to www.summitbank.com.pk and to Internet Banking (Individual Customer). To pay a bill through SMS follow the simple steps given below: Summit Bank Bill Payments is an electronic bill payment service for your convenience. So you can pay your utility bills in a smart and hassle-free

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manner! You can pay your bills over SMS, Internet Banking, at any Summit Bank ATM, or by calling our Center at 0800-24365. SMS For Utility Bill Inquiry: here to view the SMS Guide

Ufone & Warid Customers, click

Go to your write message option and type: space space And send SMS to 24365 e.g. For SSGC bill inquiry ubi ssgc 123456789012 And send SMS to 24365 For Utility Bill Payment: Go to your write message option and type: space space space And send SMS to 24365 e.g. For KESC bill payment of Rs. 1200 ubp kesc 123456789012 1200 And send SMS to 24365 * To pay KESC bills, write the number instead of the consumer number The following companies**, listed with their short codes, are available for Bill Payments: 48

S.NO

Merchant Name

Category

1

Balochistan Water and Sanitation Authority

BWASA

2

Faisalabad Electric Supply Company

FESCO

3

Gujranwala Electric Power Company

GEPCO

4

Hyderabad Electric Supply Company

HESCO

5

Islamabad Electric Supply Company

IESCO

6

Karachi Electric Supply Company

KESC

7

Karachi Water and Sewerage Board

KWSB

8

Lahore Electric Supply Company

LESCO

9

Lahore Water and Sewerage Authority

LWASA

10

Multan Electric Supply Company

MEPCO

11

Multan Water and Sanitation Agency

MWASA

12

Pakistan Telecommunications

PTCL

13

Peshawar Electric Supply Company

PES

14

Quetta Electric Supply Company

QESCO

15

Rawalpindi Water and Sewerage Authority

RWASA

16

Sui Northern Gas Pipelines

SNGPL

17

Sui Southern Gas Company

SSGC

18

Tribal Area Electric Supply Company

TESCO

**All company names mentioned are the copyright/trademark of the respective companies 49

Internet Banking You can pay your bills anytime by logging in to Internet Banking at www.summitbank.com.pk ATM Pay utility bills with your ATM/VISA Debit Card at any Summit Bank ATM. 24 hours a day, 7 days a week, year round. Call 0800-24365 to pay your bills round the clock.

Center

*All company names mentioned are the copyright/trademark of the respective companies

8.7 Inter Bank Funds Transfer With our IBFT facility, you can easily transfer funds to s in other banks using our ATM or Internet Banking. Summit Bank IBFT enables you to send and receive funds on a real-time basis to and from any holder of 1-Link IBFT participating member banks. Key Benefits 

Convenience



Instant transfer



Round the clock facility 50



Eliminates use of cash & cheques

You can transfer funds immediately to any of the following banks*: 

Allied Bank Limited



Askari Bank Limited



Bank Al-Habib Limited



Bank AlFalah Limited



Bank of Punjab



BankIslami Pakistan Limited



Burj Bank



Dubai Islamic Bank



Faysal Bank Limited



Habib Bank Limited



JS Bank



KASB Bank Limited



NIB Bank Limited



Silk Bank



Sind Bank



Soneri Bank Limited



Standard Chartered Bank



Tameer Micro Finance Bank



United Bank Limited

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You can transfer funds instantly from your nearest branch, ATM or through Internet Banking Transfer Funds Through ATM 

Insert your ATM/VISA Debit Card



Enter your PIN



Select “Funds Transfer” from the Main Menu



Select “1-Link member bank” from the Funds Transfer Menu



In the “From ” option, select your type for transfer of funds



Select bank to which funds will be transferred



Enter the Beneficiary Number



Enter the amount to be transferred



the Beneficiary Name, Bank and Branch



Confirm

the

transaction

Transfer Funds Through Internet Banking 

at www.summitbank.com.pk



Click “Funds Transfer”



Click “Other Bank (s)”



Select the you want to transfer funds from, and enter the amount



Select the bank you want to transfer to



Choose your transfer option (Beneficiary List or Other )

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

For Other , enter the Number and click Fetch Title. details and click Submit to complete transfer



For Beneficiary List , select a beneficiary from the list and click Submit to complete transfer

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8.8 eStatement e-Statement is a convenient facility, through which you can choose to receive your statements over email, so you can access your statement whenever you choose, wherever you go. The paperless service allows you to save records without any paperwork. You can choose from a list of customized statement periods. Statement Periods: 

Daily



Weekly



Fortnightly



Monthly



Quarterly



Half-yearly*



Yearly*

*Default periods

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8.9 Visa Debit Card Summit Visa Debit Card welcomes you to a world of privilege and pleasure. Be it shopping, dining or travelling, Summit Visa Debit Card lets you do it all, with ease and panache. With the accessibility one aspires for and the convenience one desires, Summit Visa Debit Card redefines purchasing pleasure.

8.9.1 Visa Debit Card – Classic Combining domestic convenience with international luxury, Summit Visa Debit Card is a perfect alternative to cash. As the most versatile payment tool in the market, it incorporates the benefits of flexibility, security and incomparable convenience, and is your gateway to unparalleled rewards. Summit Visa Debit Card also opens up avenues to a world of Electronic Banking services. Now you can pay your bills, transfer funds, monitor your , purchase prepaid airtime and do a lot more, all with your Summit

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Visa Debit Card. Offering you the highest value for the lowest prices, this Card empowers you with world class purchasing convenience. It is as simple as Shop Swipe Sign Benefits 

Worldwide acceptability



Flexibility of usage



Complete personal financial management



Security, Reliability, Convenience



Insurance



Vast privileges /unique benefits



Zero loss liability



Flexible daily spend limits



24 Hr emergency helpline



Competitive rates



Annual Fee Waiver for the first year



Countless deals / discounts/ packages both locally and internationally



Access to electronic banking services



E –Alerts



Funds Transfer Via ATM



Mobile recharge Via ATM



Utility Bill Payment via ATM

For details, visit your nearest Summit bank branch, and feel the spending power in your hands. 56

8.9.2 Visa Debit Card – Gold The luxury you deserve Summit Visa Debit Gold Card grants you access to a vast bundle of Gold privileges and benefits. As our preferred customer, you get a superior level of service along with an ease to purchase all that you like, effortlessly and conveniently. Exciting domestic deals and enticing international packages guarantee you the highest level of purchasing pleasure. Summit Bank now introduces the Cash Back Card! With SMBL Visa Debit Gold Card, you are rewarded every time you shop. When you make a purchase, you get a 5 % cash back* if your shopping ranges between Rs.3,000 to Rs.10,000 every month. This Card not only offers you ultimate in purchasing convenience but also rewards you for it. No matter what you buy and with no inhibiting & conditions, SMBL Visa Debit Card is not just an ordinary payment tool but a truly rewarding experience. To avail your share of this experience, please dial 0800-24365 or visit Summit Bank Branch closest to you. Cash Back Features 

5% CASH BACK* applicable wherever you shop (Only valid for Current Holders)



Applicable on spend amount as low as Rs.3,000/-



Maximum spend limit Rs.10,000/-



The cash back amount will be credited to your at the start of the following month (if criteria met)



Applicable only on Gold Card Holders maintaining minimum average balance of Rs.300,000 57

Cash Back Benefits 

No astronomical spend criteria



No hidden conditions



Flat 5% cash back* across any and all retail outlets



No barriers to minimum or maximum transaction counts



Applicable on spend limits as low as Rs.3,000



Get Rs.500 on spending Rs.10,000 anywhere in a whole month



Such a Deal has never been offered previously on Debit Cards

Added Benefits 

Great local & international Privileges



Visa Global Customer Assistance Services (GCAS)



Lost/Stolen Card Reporting



Cardholder Inquiry Service



More discounts and deals to choose from



Lowest charges than currently being offered elsewhere



Access to a host of electronic banking services



Annual Fee waiver for the first year



Funds Transfer Via ATM



Mobile recharge Via ATM



Utility Bill Payment via ATM

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8.9.3 Merchant Discounts Now dine at your favorite restaurants and shops at the most happening places with amazing discounts “The more you spend, the more you save”. You can avail these discounts in six major cities of Pakistan in the following categories: • • • •

Restaurants & Cafe’s Clothing & Shoes Electronic & Gift Items Jeweller

& Conditions 

Please inform the merchant before buying or placing an order where payment needs to be made via Summit Visa Debit Cards.



These offers are only available with Summit Bank Visa Debit Card.



Offers cannot be used in conjunction with any other promotional program offered by merchants.



Summit Bank is neither responsible nor guarantees the quality of goods or services provided by merchants.



Summit Bank reserves the right to change the and Conditions at any time without asg any reason thereof.

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8.9.4 Free CIP Lounge Access Summit Bank’s VISA Gold Card customers now enjoy privileged access to the CIP Lounge when they travel abroad. Enjoy FREE access to the CIP Lounge Facility for yourself and one guest at the Karachi, Lahore & Islamabad airports during your international trips with: 

A comfortable sitting area to relax in



Complimentary access to CIP Lounge for Summit Bank customers as well as one guest.



Access to leading TV Channels



Access to newspapers and magazines



Internet, fax and telephone facilities



A wide range of snacks and beverages



Information desk



Mobile charging facility

Just show your Summit Bank Debit Card and enjoy these wide array of services.

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8.10 Dolmen Loyalty Debit Card Summit Bank proudly announces the launch of its new product in Karachi City! Pakistan’s very first unique co-branded debit card; “Dolmen Loyalty Debit Card” Summit Bank & Dolmen Group together brings you a World Class Shopping experience.This card welcomes you at Dolmen Mall with fascinating discounts while you shop at your favorite outlet of apparel, footwear, fragrances, home accessories or dine-in at your choice of restaurant or at food court. Benefits Envisage 

Discount: You can enjoy lucrative discount offered by selected merchants located at Dolmen Mall.



Reward Points: For every Rs. 50 you spend, you can earn one (1) reward point which is redeemable at all selected merchants.

To Get your Card: 

Visit Summit Bank’s Sales & Service Center at Dolmen Mall Clifton, Hyderi & Tariq road



Visit any Summit Bank’s branch in Karachi



Fill up & submit the opening form at any of our branch.



Call our Call Center anytime at 0800-24365 and get all the details.

Using the Dolmen Loyalty Debit Card 61



Make purchase from selected merchants and present your card to the cashier at the check-out counter.



Cashier will swipe your card on the POS terminal and enter the payable amount after discount.



Cashier will ask you to enter your PIN code.



After successful authorization, your will be subsequently debited for the transaction amount.



Three Sales receipts will be generated (Merchant, Bank and Customer copy).



Carefully check the amount on receipts before g the receipt and return it to the cashier.



Please ensure that you take your card and receipts before leave the counter.



Please note this card cannot be used on any ATM machine or any other place(s) except at authorized merchants of Dolmen Mall Karachi.

Points Redemption 

You can redeem your points at any selected merchant.



The merchant will swipe your card and enter the point redemption amount in the POS Machine.



System will check the availability of points.



If the sufficient points are available then system will automatically calculate the equivalent reward points and authorize the transaction.



Three receipts of transaction will be printed (i.e Merchant, Bank and Customer copy).



Carefully check the amount on receipts before g the receipt and return it to the cashier.



On this transaction, no reward points will be provided.

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8.11 NIT Co-Branded ATM Card How to get ATM Co-Branded Card 1. NIT Unit Holder may visit NIT office to sign ATM request form. 2. After internal approval and documentation, NIT will forward the request to the Summit Bank team for ATM card personalization and subsequent dispatch to the customer. 3. After receiving the ATM card, the customer will call Summit Bank’s Center at 0800- 24365 using the customer’s ed number, provided at the time of card request. 4. The Center agent will guide the customer regarding PIN generation after customer verification has been performed. 5. After successful ATM PIN generation, the ATM card will be activated. 6. Activation of the card signifies the acceptance of and conditions mentioned in the application form. ATM Redemption/Cash Withdrawal 1. The limit of daily cash withdrawal through ATM Card is Rs. 25,000/- per day or 50% of the value of its electronic holding, whichever is less. 2. The ATM based transactions will follow the same rules as paper-based redemption for applicability of repurchase price, cutoff timing*, deductions, etc. 3. Units for transactions executed before cutoff time will be calculated using the forward day repurchase price. 4. Transactions executed after cutoff time will be calculated using the following day repurchase price. (Monday to Friday – 1530 hours)* 5. CGT, Zakat, FED and WHT, if applicable, will be deducted on redemption of units as per the prevailing rates.

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Transaction Fee for Cash Withdrawal 1. Summit Bank ATM Network: Rs.5/-. 2. 1 Link ATM Network: Rs.20/-. 3. Transaction fee has been waived off for the first 6 months. However after that it will be deducted from the Unit Holder’s by redemption of the equivalent value of units. Balance Enquiry 1. The unit holder will have the facility of checking the value of his/her unit balance using Summit Bank ATMs. 2. The balance amount shown will be based on the last available repurchase price of the units, and will be updated after the end of each business day processing. 3. Impact of any deduction (Zakat, CGT, etc., if applicable) as a result of ATM redemption transaction will be shown on balance inquiry after day end. ATM Services The customer can also perform following transactions on Summit Bank ATM network: 

View Mini Statement



Change ATM PIN

Transaction Alerts SMS alerts will be sent for every transaction to the customer’s ed mobile number The facility of redemption of units using the co-branded card is applicable to NIT electronic units of the individual unit holders only.

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8.12 NAFA Co-branded ATM Card Summit Bank has ed hands with yet another renowned funds management company of Pakistan – NAFA. With this arrangement, NAFA customers will be facilitated with an exclusive co-branded ATM card, specifically designed to cater to the needs of NAFA unit holders. This unique card allows NAFA customers to instantly redeem their units in the form of cash round the clock through Summit Bank’s wide spread ATM network as well as via any 1-Link ATM anywhere in Pakistan. NAFA customers can enjoy: • Cash Withdrawal facility (Daily cash withdrawal limit: Rs. 25,000/- or 50% of the value of NAFA units, whichever is less); • Balance Inquiry; • Mini Statement; This facility is only available for the unit holders of NAFA.

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8.13 G2P Projects Poverty is one of the biggest challenges face by our country as 60% of the total population living below the poverty line (World Bank, 2002). In an effort to accelerate the poverty reduction, the Government of Pakistan launched the Benazir Income Program (BISP) with the of World Bank and other donors as a flagship government safety net initiative in 2008 across Pakistan. The program aimed at covering 3.5 million families in all provinces of Pakistan. Government of Pakistan allocated Rs.70 billion in last fiscal year-FY13 to provide the cash assistance to the poor families. The enrolled families are paid cash assistance of Rs 1200 per month (www.BISP.gov.pk) Being a socially responsible corporate organization, Summit Bank has ed hands with Government of Pakistan for their G2P initiative to provide financial assistance to poor families through Benazir Income Program. We are participating in three G2P programs of BISP in eight (8) districts consist of thirty one (31) tehsils : 

BISP-Mobile Payment Project



BISP-Benazir Debit Card Project



BISP-Waseela-e- Rozgar Project

To find more details about Benazir Income Program and to search for beneficiary details. kindly visit www.BISP.gov.pk

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9. Remittance Summit Bank has designed and developed its own electronic interface by the name of ‘Amanat Cash’ to facilitate various exchange companies and banks to send home remittance to Pakistan on real time basis. This has made possible, for all Pakistanis, to receive remittances by their loved ones for FREE, in a fast and fully secured manner. The service we offer is readily available to every one regardless of having in Summit Bank. Salient Features Of Summit Bank Home Remittance includes: 

Fastest Credit



Free



Quick Processing



Real Time



, exclusively dedicated friendly Customer Service for Home Remittance Customers.



24/7 Customer through Center.

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8.1 Our Alliances To facilitate expatriates, Summit Bank has created alliances with the finest exchange companies in Dubai, Middle East, UK and USA making it convenient to send money to your loved ones in Pakistan.

9.2 Western Union We offer quick and convenient delivery of cash over the Counter services in association with Western Union. No matter where you are around the globe, if there is Western Union around, you can transfer funds to your loved ones, in no time. This payment can easily be picked up in a matter of moments at dedicated Western Union counters in our branches. No at Summit Bank is required for this service.

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8.3 Amanat Cash Summit Bank is pleased to introduce Amanat Remittance services, namely AMANAT CASH www.amanatcash.com Summit Bank is d with PRI (Pakistan Remittance Initiative) which is a t venture of ministry of finance and State Bank of Pakistan. It has affiliation in all 165 branches and over 850 partner payout locations nationwide. All the branches are online. Summit Bank Ltd has the ability to transfer funds into beneficiary’s instantly through IBFT and RTGS enabled Banks (which covers over 90% of holders in Pakistan). Funds will be directly credited to beneficiary s in Fast, Free & Secure manner. Amanat Cash Services include the following: 1. Cash to (Instant Bank Transfer) 2. Cash-to-Cash Money Transfer (Instant Cash over Counter) 3. 9 am to 8 pm remittances disbursement services at selected branches in all major cities to facilitate the beneficiary to collect the payments over the counter, which no other bank offers. 4. Cash-to- AMANAT Card* (Remittance Card Service for the Beneficiary) 5. Cash-to-Cash Home-delivery Service**. *To Start Shortly. **The system also generates SMS to the Beneficiary intimating him/her about the incoming remittance. Another SMS is sent to the remitter as soon as the payout to the beneficiary is successfully done. A dedicated call center is available for customer and International Remittance Partner . The service is offered free to the customers availing pay-in and payout services.

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8.4 Xpress Money Xpress Money is simply the fastest way you can receive money from anywhere. We take pride in ensuring that it reaches the beneficiary safely and in a matter of minutes.

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10. Saturday Banking Branches Summit Bank Limited also offer the services to our customer on the Saturday 24/7 BANKING BRANCHES 10:00AM TO 11:00PM BRANCHES 10:00AM TO 3:00PM BRANCHES Selected Branches are open on Saturday according to above mention timing.

11. Evening Banking Branches 24/7 BANKING BRANCHES EVENING BANKING TILL 11:00PM BRANCHES EVENING BANKING TILL 8:00PM BRANCHES Selected branches offering the 24 hours, 14 hours and 11 hours services to our customer

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