Unrest Reported at Faysal Bank
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Faysal Bank is reportedly under tough circumstances, that can potentially impact the future of employees, sources with-in bank and close to bank tell EconomyAge.
According to various employees, who talked with EconomyAge on condition of anonymity in fear of jeopardizing their relation with the employer, that Faysal Bank offered 2-5% increment to majority of employees especially to senior managers.
For those who are making Rs 100k to Rs 160k – the increment in absolute figure is mere 4 to 5 thousand.
Many employees in Karachi were asked to resign voluntarily but on refusal they are transferred to cities like Turbat, Quetta and in Azad Kashmir Region, making it virtually impossible for them to work, tell us sources who are directly impacted with the situation.
‘We cannot understand what has happened – since we met all our targets, in fact surpassed them and this is true for almost every department. I think they are out of their mind for treating us like that’, commented a employee who was asked to resign.
Another seasoned banker who worked for Faysal Bank and is currently working in another bank and who wish to stay anonymous for this article told us that his friends and sources confirmed him that many Area Managers are now given charge of Branches.
At the time of filing this article – EconomyAge received rumors that senior and key HR figure is about to leave Faysal Bank. This might be a surprise for industry since Faysal posted strong results and 80% growth last year.
This is not the first time this year that Faysal Bank is in news for any wrong reasons. Just recently, SECP slapped a prohibitory notice to Faysal Bank on manipulating shares in stock exchange. And at that time when they were in dire need of a spokesperson, they lost their head of marketing and corporate affairs Miss Marigam Agha.
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Yes, they have this habbit of hiring marketing sales people in place of operations i have been a witness of few instances in Peshawar ,…and yes unrest was evident.
oh! Allah protect them from crises.
Correct. And this is because of the mismanagement and ignorance of the banking code of governance
People in Faysal Bank can refer to Banking Companies ordinance articles 40-48 and can write to SBP in this regard.
Massraf Faysal Al Islami to Faysal Islamic Bank and from here it converted into Faysal Bank Limited. In 27th October 987 when bank was open its first branch it was presume that this bank shall be the mile stone towards Islamic Banking in Pakistan. That what President Zia-ul-Haq ask the Price Muhammad Al Faysal the Chairman of the DMI Group and late Mr. Muazzam Ali the Vice Chairman of DMI Group. It was the time when Massraf Faysal Al Islami was having a powerful group of Religious Supervisory Board that include the member who hold international reputation including Dr. Yousuf Al Qaradavi, Justice (r) Mufti Taq Usmani, Justice (Late) Peer Karam Shah and Mufti Abdul Rahman Al Mahmood. It was the big achievement of the team that bought the bank in Pakistan and it was the gesture of Bahrain Monotery Authority of allowing Bahrain funds invested in Pakistan. During the peroid 1997 to 1993 the bank have shown tremendus growth and decline started from 1994 when non Islamic thinkier enter into the organization and today the bank is totally base on Intrest that do not have any document that was prepared with great effort in cooperation with Late Mansoor Ali Khan Advocate who put all the efforts to get this bank as one of it kind and all the document were duly approved by High Ranking Religious Board. These documents are still been used on Non Islamic banking market. But Faysal Bank is no more an Islamic Bank. Today insiders says that this bank shall not have any set-back but that put it into liquidation, but the merger with the conventional bank is the last nail in the coffin that damage the entire vision of the bank and the Group the DMI. It shows how Pakisan take the will of Allah? This the long story that have many name who are the champions who are responsible of damaging the foundation. We blame General Zia-ul Haq or Z.A.Bhutto for all the events in Pakistan but we do not see ourself how we are damaging our own life by putting our own interest on the National priorities. You are right Mr. Ali I was the part of this Group from 1983 to 1994 and left when I saw my hard effort in establishing the Islamic banking institution in Pakistan going in the hand of those who do not know Islam and the banking.
some people are of low profile/standard…a new markt person from lums/lse can better change the environment and demotivated culture also
Mariam Agha was head of Marketing in RBS Pk entity. The news are very true… FBL management has been failed to restore the motivational level of their employess. God Bless FBL employees
News is v v true, I am with faysal bank for last 4 year and its been the worst scenario i have ever seen
i get the increment of just Rs. 250/- his time with out bonus although i was rated 3 out of 5 in the appraisal and its been the practice that 3 ratters get minimum 1 gross salary as bonus and 10 to 15 % increment recently but dont know wht happened with the management now
as per HR representative they says we are receiving 10 to 12 resignation daily from Pan Pakistan