Soneri Bank Limitted

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Soneri Bank Limitted
Contents About the bank

Bank mission statement OBJECTIVE OF THE BANK Shareholders information Board of directors Management WOT ANALYSIS
Products and services

Saving account Term deposit Current account Basic bank account Ikhtiar current account Online banking SMS alert S.M.E finance Consumer finance Electronic banking
Islamic banking
Soneri jari account Soneri bachat account Soneri munafa account Soneri meaadi account
conclusion
A BREIF HISTORY OF THE BANK:

Soneri Bank Limited was formally incorporated on September 28, 1991. The first Branch commenced operations in Lahore on April 16, 1992, followed by the launch of Karachi's first Branch on May 09, 1992. The bank currently operates 216 branches, spread all over Pakistan including the Northern Areas of the country. The banks expansion policy is based on the principle of maintaining a balance between the urban and rural areas.
We take great pride in offering services even in the remote areas of Pakistan. Our fully airconditioned and computerized branches provide a pleasant, convenient and hassle free banking experience every time.
The essence of our business philosophy is to cater to the banking requirements of small & medium sized entrepreneurs, effectively providing them qualitative & competitive services with emphasis on encouraging exports. Nearly forty percent of our credit portfolio is related to export financing and credit decisions are taken within 48 hours.
MISSION STATEMENT:
To develop Soneri Bank into an aggressive and dynamic financial institution having the capabilities to provide personalized service to customers with cutting edge technology and a wide range of products, and during the process ensure maximum return on assets with the ultimate goal of serving the economy and the society.
OBJECTIVES OF THE BANK:

The essence of business philosophy is to cater the banking requirements of small & medium sized entrepreneurs, providing them qualitative & competitive services with emphasis on encouraging exports.
SHARE HOLDER INFORMATION:

Associated companies:
Rupali Polyester Limited http://www.rupaligroup.com/ Rupafil Limited Spintex Limited Rupali Nylon (Pvt.) Limited
PATTREN OF SHARE HOLDING:

Pattern of Share Holding
Description
Shareholding
Percentage 1.3321
Directors, CEO and their spouse 12,027,971 and minor children Associated Companies, undertaking & related parties Trustees Alauddin Feerasta Trust 199,678,993 Trustees Feerasta Senior Trust 196,684,455 Trustees Alu Trust 98,387,756 Executives NIT and ICP Banks, DFI & NBFI Insurance Companies Madarabas & Mutual Funds Joint Stock Companies Foreign Companies General Public (Local) General Public (Foreign) Others Total 290,991 161,196,787 22,253,163 13,633,405 24,701,015 5,617,027 40,541,354 111,805,503 15,990,639 190,436 902,918,495
22.1148 21.7832 10.8966 0.0233 17.8529 2.4646 1.5099 2.7357 0.6221 4.4900 12.3827 1.7710 0.0211 100.00
Refer our Annual Accounts as of December 31, 2011
BOARD OF DIRECTORS:
Chairman President & C.E.O Directors Director (NIT Nominee)
Sub-Committees of the Board:

Audit committee of Board:
Chairman Three members Secratary
Credit committee of Board:

Chairman Three memebers Secretary
Risk Management Committee of Board:

Chairman Two members Secretary
Human Resource Committee of Board:

Chairman Three members Secretary
MANAGEMENT:
Management Team:
The president and cheif executive Head of establishment Head-international Divission Country treasurer Head credit Head complaince and controle group Cheif financial officer (Mr. Sheikh Muhammed Moeen) Head human resource Cheif information officer
Sub Management Committees:

Management committee Executive credit committee Assest and liablity committee Investment committee I.T Steering committee Credit risk management committee Market risk management committee The Company Secretary (Mr. Muhammad Altaf Butt)
S.W.O.T Analysis:
SWOT analysis gives a review of an organization, which is comprised of organizations strengths, weaknesses, opportunities and threats. On the basis of SWOT analysis, one can analyze the present status and performance of an organization and can make conclusions and recommendations.
Strengths of SBL:
Strengths are the internal plus points that make an organization strong. Soneri bank has got a very good image in the society. Soneri bank mainly focuses on its customers. Soneri bank has got a very friendly staff. Because of the policies of Soneri bank employees are very much motivated and devoted to their work. It has product innovation skills and resources. Its online banking facility to its customers has given Soneri bank a competitive edge over its competitors, ensuring fast and reliable banking transactions. Staff is young and rich in experience and working skills. It has got access to all parts of the world, thus also providing services to outside Pakistan The environment of all branches is friendly. Computerized and reliable service of inland remittances.
Weaknesses of SBL:
Weaknesses are the internal weak points, which every organization has. The lower level management lacks clear direction and is not having the managerial depth. Marketing skills of the bank are good but they have little presence at different media. Physical setup of the branch is not impressive. Customers having accounts with small amount are not given the same attention as compared to those with large amounts Most of the personnel are not qualified. .
Opportunities for SBL:

An external situation, which an organization can benefit from, is called opportunities for that organization. Soneri bank should take interest in the new market segments like IT business and software business.
Soneri bank should extend their branches network to other parts of Northern Areas. Increasing credit facilities to lower income groups, thus reducing the risk of loss improving the image of the bank. Increasing need and potential of leasing in Pakistan provides SBL an opportunity to utilize its skills and efficiencies in leasing business as well.
Threats for SBL:

An external situation posed to harm organizations interest is regarded as threat to that organization. Increasing number of private / foreign banks in the country. Global technology advancement. Political, economical situation of the country. Reducing the rates of savings in different segments of people. Deteriorating confidence of people in bank uncertainties of the investors.
PRODUCTS AND SRVICES:

Saving Accounts: PLS ( profit and loss saving) account PLS Savings Bank Account is a simple, straight forward Savings Bank Account with a great convenience for individuals (in single or joint names) minors (to be operated by the guardian) charitable institutions, provident fund and other funds of benevolent nature local bodies, autonomous corporations, limited companies, firms associations, educational institutions, etc Soneri saving account Soneri Savings Account is a flexible and fast growing cumulative profit account with a great convenience for individuals (in single or joint names), minors (to be operated by the guardian), charitable institutions, provident fund and other funds of benevolent nature local bodies, autonomous corporations, limited companies,

firms associations, educational institutions etc. The rate of Profit in this savings scheme increases as your balance increases without demanding and negotiating with us. The account may be opened with any amount
Term Deposits: Term deposit account Term deposit is offered by Soneri Bank to Individuals (in single or joint names), Minors (to be operated by the guardian), Charitable Institutions, Provident Fund and other funds of benevolent nature local bodies, Autonomous Corporations, Limited Companies, Firms, Associations, Educational Institutions etc who have the intention of retaining their savings for a fixed period thereby earning a higher rate of profit. The Term Deposit allows you to save a fixed amount in Pak Rupee for a set period ranging from 1 month to 60 months at a provisional and attractive profit rate. The depositor has the option to reinvest the deposit automatically with or without profit. Diamond deposit certificate Soneri Diamond Deposit Certificates provide investment opportunities to small and medium income group investors, Charitable / Benevolent Funds, Trusts, Societies, Associations and Clubs with an attractive return.
Features: Certificates are issued for fixed periods of 1, 2 and 3 years. Annualized Rates of expected Profit: from 10.50 % p.a. to 10.75 %p.a. Profit paid at monthly intervals calculated from date of deposit. Minimum Investment Rs. 25,000/ `Financing facility upto 90 % of Deposit available.
Current Account:
Current is a non profit account, flexible account with a great convenience for individuals (in single or joint names), minors (to be operated by the guardian), charitable institutions, autonomous corporations, limited companies, firms, associations, educational institutions,etc. Current account may be opened with any amount; however accounts with average monthly balance below Rs.10, 000- on any day shall be subject to Service Charges as per our Schedule of Charges in force
Basic Bank Account:

Soneri Bank Limited introduces Basic Banking Account Scheme with effect from July 01, 2006. Salient feature of the Scheme are:
Basic Banking Accounts may be opened in the Pak Rupees by individuals including minors under guardianship.
The accounts may be opened by initial deposit of any amount. No minimum balance requirement is applicable. Basic Banking Account is non-profit bearing account. 4 withdrawals from a Basic Banking Account through cheques in one calander month are free of service charges. Additional withdrawals through cheques in a calander of month shall be subject to service charge @ Rs. 25/- per additional cheque.
Soneri Banking Cards for the use of Bank's Electronic Banking Service are issued without charges for one time issuance of the cards.
unrestricted number of withdrawals from the account through ATMs are permissible subject to applicable per day withdrawal limit for amounts in force.
Cash withdrawals from Soneri Bank's ATMs are free of Service Charge. Use of another bank's ATMs shall be subject to Service Charges applicable.
Basic Banking Account holders may also use Soneri Bank's other Electronic Banking Services subject to completion of applicable formalities which shall be subject to applicable Service Charges.
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Ikhtiar Current Account:

Ikhtiar current is a non profit account, flexible account with a great convenience and Multiple FREE Services for individuals (in single or joint names), minors (to be operated by the guardian), charitable institutions, autonomous corporations, limited companies, firms, associations, educational institutions, etc. Ikhtiar current account may be opened with minimum amount of Rs. 50,000/-. To avail free facilities maintenance of balance on or above Rs. 50,000/- is mandatory.
Online Banking:
On-Line Banking Services are available for all chequing account holder of our Soneri all branches. Services: Cash Payments of cheques drawn on any of our all branches. Cash Deposits in to customers account maintained at any of our all branches. Governement taxes/duties: Cash Cheques or Cheques Applicable Government Taxes/duties Under Collection if payable recoverable as per rules to third parties Cash withdrawal: Per day Cash Withdrawals limit is restricted to Rs. 200,000. Cash Cheques tendered by other than the account holders in person are subject to levy of Govt. Taxes as per rules. Cash deposits: Deposits made by third parties into accounts of customers maintained at all branches are subject to recovery of applicable with-holding tax, as per rules from the depositors. Cheques under collection: Proceed of Cheques drawn on our all branches are immediately credited to depositors account subject to fulfillment of other conditions governing payment of cheques. Govt. Taxes as per rules are recoverable on outstation collection cheques.
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SMS Alerts:
Soneri Bank Limited now introduces to its ATM/ VISA Debit Card holders SMS Alert Service, the best feature for warning about fraudulent transactions conducted against Cards. Now you shall receive SMS Alerts on your mobile number registered with the bank of all purchase transactions immediately after it has been made. Remember, an early intimation can save you a lot of trouble later, and also protect your hard-earned money. It is very easy to sign up for our SMS Alert Service. Just fill the form available in Bank all Branches or call at the following numbers for your SMS Alert Activation: 111-SONERI (766-374) 0800-00500
S.M.E Finance:
Soneri Bank Limited, arguably at the forefront of commercial excellence, has strengthened its product profile by introducing the following cost effective innovative tailor made small and medium enterprises (SMEs) financing options on flexible terms to its most discerning customers need. The Market segment for this business is primarily SMEs and the bank stands committed to contribute in the process of national development with an explicit focus in providing quality finance solutions.

SONERI SARMAYA SCHEME SONERI AASAN SCHEME SONERI TEJARAT SCHEME
Offers:
Fund & Non Fund Based Facilities.

For fixed Asset Financing For Working Capital Financing For Trade Financing
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Who can avail:

Fund & Non Fund Based Facilities.

Individuals Proprietorship Partnerships Limited Companies
Why soneri bank:

Salient Features of SBLs SMEs Products.

Competitive Rates Tailor made need based Products Quick Processing Time Cash Flow Based Lending Flexible Repayment Period
Where we can Apply:

Its easy to begin a relationship with SONEI BANK. Simply contact one of our Soneri Bank Ltd Branch located in easy to reach places and ask the Manager/Relationship Staff for details on how to apply for innovative Soneri SME Specific Finance.
Consumer Fianace:
Soneri Car Finance:
Purpose of Finance
Purchase of brand new:

Un-registered cars for private use. Un-registered light commercial vehicles for private use. Eligibale person:*
Salaried Persons Self Employed Professionals Business Persons Financing Amount
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Financing amount:
Upto Rs.1.5 MillionD
Down payment:own Payment
Minimum 20% of the vehicle price.
Tenure:Tenure
Maximum repayment period is 5 years.
Make-up Rate:Mark-up Rate **
1 year KIBOR + 4.5% p.a., to be revised on each anniversary of finance.
Processing fee:rocessingFee
Rs. 3000/- per approved application.
Service lenght:Service Length
Minimum 2 years of confirmed service with present employer in case of Salaried. Person At the time of Application for finance, applicants age must not be more than; 55 years in case of Salaried Person. 60 years in case of Self Employed / Business Person.
Age:

Debt burden:Debt Burden
Total monthly repayment installments not to exceed 40% of the net income (taking into account other financing facilities availed from other Banks/DFIs)
Prepayment penalty:Pre-PaPenalty
2% pre-payment penalty on outstanding principal amount of finance being pre paid.
Late payment charges:Late Payment Charges
Rs. 500/- per installment per month.
Insurance of Car/ Motor Vehicles:esnsurance of Cars / Motor Vehicles
Cars / Motor Vehicles financed are to be comprehensively insured with any of the Insurance Companies listed on the approved panel of Soneri Bank.
Insurance Premium is payable up-front for each year during the life of the loan.
Charges:Charges

Documentation Charges (at actual). Income Estimation Charges (if applicable).
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Soneri gahr Finance:

Purpose:

Purchase / Construction of Property for self-occupancy. Extension / Renovation on self occupied residential Property.
Product category:Product Categories

Purchase of pre-constructed Residential Property. Construction of residential property on self owned plot of land. Extension / Renovation on self owned & occupied property. Balance Transfer Facility (BTF) for any of the above finance
Eligibale Brrower:Eligible Borrowers*

Salaried Persons Self Employed Professionals Business Persons
Financing amount:ancing Amount

Purchase: Upto Rs. 10 Million Construction: Upto Rs. 10 Million Extension / Renovation: Upto Rs. 03 Million Balance Transfer Facility: Upto Rs. 10 Million
Tenure:

Purchase: Upto 20 Years Construction: Upto 20 Years Extension / Renovation: Upto 07 Years Balance Transfer Facility: Upto 20 Years (Calculated from the date of original finance).
Marke-up rate:Mark-up Rates**
1 Year KIBOR + 4% p.a., to be revised on each anniversary of finance.
Preosessing fee:rocessing Fee
0.5% of Finance Amount, Min. Rs. of 2,500/=
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Service leght:Service Length
Minimum 5 years of confirmed service with present employer in case of salaried person.
Age: At the time of maturity of the Finance, applicant's age must not be more than;

60 years in case of Salaried person. 65 years in case of self Employed / Business person.
Debt burden:Debt Burden
Total monthly repayment installments not to exceed 40% of the net income (taking into account other financing facilities availed from other banks/DFIs).
Moratorium:Moratorium
A moratorium of 12 months is allowed in case of finance for Construction.
Pre-payment charges:Pre-Payment Charges
2% of the outstanding amount being prepaid.
Late payment charges:e Payment Charges
Rs. 500/- per Installment per month. Mortgage Protection Insurance cover through Banks designated Insurance Company.
Insurance:
Insurance premium on the insurance cover payable upfront each year.
Charges:Charges

Documentation Charges (at actual). Valuation Charges (at actual) Legal Opinion Charges (at actual) Income Estimation Charges (if applicable)
Soneri Personal Finance:

Purpose:inance

To meet medical expenses for self or dependants of applicants. To meet educational expenses of applicants children. To meet travel expenses for self and family members.
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To meet renovation expenses of self owned residential property. To meet advance rent payment for rented residential property occupied by the applicants.
To meet domestic needs.
Financing Amount:ancing Amount***
Upto Rs.0.5 Million
Eligible Borrowers:wers*

Salaried Persons Maximum repayment period of 5 yearsup Rate** 1 Year KIBOR + 8% p.a., to be revised on each anniversary of finance.
Processing fee: Fee
Rs. 2,500/=
Service lenght:
Minimum 2 years of confirmed service with present employer. At the time of maturity of the finance, applicants age must not be more than 60years.
Age:
Debt Burden: Burden
Total monthly repayment installments not to exceed 40% of the net take home salary (taking into account other financing facilities availed from other Banks/DFIs).
Pre-payment charges:Payment Charges
5% of the outstanding amount being prepaid
Late payment charges:Payment Charges
Rs. 500/- per installment per month.
Personal loan insurance:rance
Amount of Finance insured against life of borrowers, free of cost.
Charges:
Documentation Charges (at actual).
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Electronic Banking:
Soneri mobile Banking: Now you can have instant access to your account via your mobile at any time of day or night, that too without an internet connection! Whats more, you can register at no cost and also enjoy a host of FREE* banking facilities. Priciing option: You can choose from the following payment options:

An annual package/bundle Pay as you go pay as and when you make transactions
Features: You can enjoy the following FREE* services with Soneri Mobile Banking:

Balance inquiries Mini-statements Intra-bank & Inter-bank Funds Transfer Prepaid mobile phone top-ups or paying post paid bills Utility Bill Payments So no matter what the time or place, if your mobile is open, so are we!
ATM / Visa Debit Card: SONERI Debit Card brings to you the ultimate facility of spending and GOLD Card. With the Buy Now
making payments. You are privileged to avail the unmatched opportunities and benefits of the CLASSIC Card and Pay Now facility, you pay directly from your bank account. Use your SONERI

Debit Card wherever you are and whenever you want.
Safer than Carrying Cash Pay dining, shopping, traveling, hotel and other bills at over 24 million outlets displaying sign locally and internationally
Worldwide cash withdrawal facility at over 1 million ATMs displaying the sign Ease of Cash withdrawal on 1 LINK and ATM networks across Pakistan Credit facility available for GOLD Card Holders Accessibility of multiple accounts from a single card
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Makes money management easier 24/7 Automated Telephone Banking 24/7 Call Centre facility Cheque-free banking Funds Transfer facility between participating 1LINK member banks Attractive rewards on spending
Internet Banking:
You can Pay Utility Bills, Transfer Funds, and access your Account information Anywhere Round-the-clock through SoneriDirect Internet Banking. Features:

View your balance of account, latest transactions using Todays Transaction menu View your Statement of Account. You can view them online, download them in printable format
You can pay the utility Bills for you and your dear ones Transfer Funds 24/7 from SoneriDirect Receive SMS ALERT on your Financial Transactions done from SoneriDirect. (For SMS ALERT Registration, Please call at 0800-00500 / 111-SONERI (766374) or contact your Bank Branch)
Fund transfer:ransfer :

Transfer funds to any Soneri bank account Transfer funds to any 1-LINK participating member banks account.
Bill payment:ayment :

Telecom/Mobile : Ufone, Warid, Telenor (Post Paid, prepaid) Electricity : KESC, LESCO, GEPCO, HESCO. GAS : SSGC,SNGPL.
History:ory : View history of your Soneri Internet Banking activities using History Menu (for the requests sent using Internet Banking Only) It includes:

Funds Transfer History Bill Payment History Login Historypcoming Attractions :
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Cheque Free Banking:

No Cheque book 300,000/ Per day Time Saving No Signature required No charges Can be used at POS Terminal deployed branches
At present, our cardholders (ATM/Debit Cards and Soneri Banking Cards) may withdraw cash through use of their cards at ATM of 1-Link Switch and M.Net Switch member banks. However due to constraints on Cash Dispensing capacity of ATMs, Soneri Banking Card holders may draw only up to Rs. 25000/- per day from ATMs. Recognizing the fact that our customers do not always carry with them the cheque books issued to them for operation on their account and that they may need to withdraw cash in excess of the per day withdrawal limit for ATMs, Soneri Bank has introduced CHEQUE FREE BANKING whereby our cards holders may withdraw cash up to a maximum of Rs.300, 000/- per day through use of their cards at Point of Sale Terminals installed at our designated branches. Eligibility: Eligibility: If you are having Soneri Banking Card, if you are maintaining a Soneri Bank PKR Current or Savings account Single or Joint account with either signatory authorized to operate the account, a further supplementary card can also be issued to the second account holder. All Soneri Banking Card holders use debit card facility. Service availability:ability: CHEQUE FREE BANKING is available at branches equipped with point of sale (POS) Terminals offering the following services during the counter hours on real time basis:Balance enquiry: The POS Terminal may also be used for Balance Enquiry of accounts linked to the card. Cash withdrawal:Cash Withdrawals: CHEQUE FREE BANKING shall be made available through POS Terminal installed at dedicated cash counters at branches manned by a cashier.
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Telephone Banking:
You can conduct your banking from any where and at anytime you want. Dial 111 SONERI (111-766374) to reach our Customer Services Call Center. With Telephone Banking, You can access all the information you need without making a trip to the branch. This means no Parking to find, no traffic to flight and no standing in line. At home, at work or on the go, all you need is a touch-tone telephone, your card number and the T-PIN to access your bank account, 24 hours a day, 7 days a week. Eligiblity:ELIGBILITY: If you are having Soneri Banking Card, if you are maintaining a Soneri Bank PKR Current or Savings account Single or Joint account with either signatory authorized to operate the account, a further supplementary card can also be issued to the second account holder. All Soneri Banking Card holders use debit card facility. Available services:AVAILABLE SERVICES:

Balance Enquiry Today's Transaction by Voice Instant statement of Account through Fax Request for Computer Generated Statement of Account Request for cheque book Stop mark of lost Soneri Banking Card Change your T-PIN Latest Forex Rates Product Information
Interactive voice prompt in English or Urdu language will guide you through the process. Soneri Banking Card holders will have access to Telephone Banking basic facilities at no additional cost. Service provided:Provided

Request of checkbook Lost Card Report Balance Inquiry Request of detailed statement By Fax T-Pin Change Request of detailed Statement
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Utility Bills Payments:

Soneri Bank VISA Debit Card holders can pay their bills using Soneri Bank Internet Banking, Call Centre and ATM Services.

No need to stand in a bank queue. No need to carry cash. Easy way of paying bills for you and your dear ones. Bills once paid are automatically registered in our system. 24 hours a day, 7 days a week service from any where across Pakistan or worldwide.
Available Services : Service is currently available for payment of:

KESC, LESCO, GEPCO, HESCO. SNGPL, SSGC. Warid, Ufone, Telenor (Prepaid and Postpaid).
Soneri Islamic Banking:

Soneri Jari Account (Current Account):
Soneri Jari Account, on the basis of Qardh may be opened by individuals, partnerships, Joint Account holders, Companies, Corporate, Trusts e.t.c, with following unique Facilities:

No limit for minimum or maximum balance. No limit for minimum or maximum withdrawal amount within the available balance.
Country wide cash deposit / withdrawal facility. Personalized Cheque book facility with no restriction on number of transaction. Fund utilized by the bank in accordance with Shariah Principles under the supervision of proficient Shariah Advisor.
Pay orders and demand drafts payable country wide. Telephone banking, *E-Banking, *GSM Banking, *Web Banking, On-line Banking, ATM Card / Debit Card and Utility Bills Payment.
Hold Mail Instructions.
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Personal Financial Consultancy Services for Islamic Banking Products.
Important Note: Extra Premium on actual profit will be given on special deposits. IB SCHEDULE OF CHARGES

Hold Mail Instructions. Personal Financial Consultancy Services for Islamic Banking Products. IB Schedule of Charges
Soneri Bachat Account:

Profit & Loss Sharing Soneri BACHAT Account may be opened by individuals, partnerships,Joint Account holders, Companies, Corporate, Trusts e.t.c, on the basis of Shariah Principles of Musharaka with the following unique facilities.

Minimum amount for account opening Rs. 100/=. Profit calculated on monthly average and distributed on quarterly basis. Profit calculated on the basis of weightages for different tiers to benefit higher balance with higher return.-Extra premium on deposits of Rs. 10 Million and over.
Weightages declared at periodically intervals to be announced on the web-site, and will be displayed on notice board.
Soneri Bachat account with special operational facilities of Current Account. No limit for minimum or maximum withdrawal amount within the available balance. Country wide cash deposit / withdrawal facility. Personalized Cheque book facility with no restriction on number of transaction. Fund utilized by the bank in accordance with Shariah Principles under the supervision of proficient Shariah Advisor
Hold Mail Instructions. Free Statements of Account after every six months. Personal Financial Consultancy Services for Islamic Banking Products. Important Note: Extra Premium on actual profit will be given on special deposits.
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Soneri Munafa Account ( saving Account):

Profit & Loss Sharing Soneri BACHAT Account may be opened by individuals, partnerships, Joint Account holders, Companies, Corporate, Trusts e.t.c, on the basis of Shariah Principles of Musharaka with the following unique facilities.

No Minimum amount for account opening. Profit will be calculated on daily products. Profit calculated on the basis of weightages for different tiers to benefit higher balance with higher return.
Extra premium on deposits of Rs. 10 Million and over. Weightages declared at periodically intervals to be announced on the web-site, and will be displayed on notice board
Soneri Munafa account with special operational facilities of Current Account. No limit for minimum or maximum withdrawal amount within the available balance. Country wide cash deposit / withdrawal facility. Personalized Cheque book facility with no restriction on number of transaction. Fund utilized by the bank in accordance with Shariah Principles under the supervision of proficient Shariah Advisor
Hold Mail Instructions. Free Statements of Account after every six months. Personal Financial Consultancy Services for Islamic Banking Products.
Soneri Meaadi Account:

Profit & Loss Sharing Soneri BACHAT Account may be opened by individuals, partnerships, Joint Account holders, Companies, Corporate, Trusts e.t.c, on the basis of Shariah Principles of Musharaka with the following unique facilities.
Minimum deposit Rs.10,000/= for a fixed period of 1 month, 3 months, 6 months, 1 year, 2 years, 3 years and 5 years.
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Profit payment at the option of client i.e., monthly, quarterly, half yearly, yearly or on maturity.

Profit declared quarterly. Net profit (after deduction of expenses & management fee) to be shared on the basis of weightages.
Weightages on the basis of tenor and option of profit payment will be announced quarterly.
Fund utilized by the bank in accordance with Shariah Principles under the supervision of proficient Shariah Advisor Some of the facilities for Jari account are also applicable here.
Conclusion:
Soneri bank limited is a well reputed bank in Pakistan. The bank is making profitable business through out the country and is well ahead in providing the banking facilities. Keeping in view the expansion of commercial areas, the bank have to plan for expanding its activities through out Northern Areas and should open branches in Gahkuch, Yaseen, Gojal, Astore, Khaplu and Chilas . The bank should focus on the development of human resources, as human resources are the asset of any organization; they need to be properly trained. They should be kept properly informed and updated about the recent changes that are taking place in the financial sector through proper training. Recruitment policy of the bank is not clear. The bank never advertised for recruitment of new personnel, all the process is carried out internally and the bank management normally employs candidates who are not fit for the required job. It is suggested that the bank should have clear cut policy for recruitment.

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