Established in March 2009, Ghazanfar Bank is a profitbased financial institution, grants loans and advances, accepts deposits and offers other financial services, such as Remittances / electronic funds transfer, western Union, to name just a few. Ghazanfar Bank also offers various banking products and financial services through its branch network operating in key locations. Going into further detail about the firm, Mr. Ray provides us with an overview of the services that Ghazanfar Bank offers to clients.
“Ghazanfar Bank offers conventional as well as Islamic banking product and services to meet the financial needs of community. Ghazanfar Bank, via its conventional and Islamic Banking, offers vast number of deposit and credit products.
“The funds of the Bank, like any commercial Bank, belong to the general public and are withdrawn at any time according to the nature of account, being demand deposit, saving deposit or term deposit.
“The Management Team of the Bank are comprised of highly experienced and qualified Bankers, Financial Experts, Accountants and Risk Managers with considerable expertise in all aspects of Banking. With the help of such a dynamic team the Bank is in a position to offer specialised skills in a traditional way in all related spheres such as counselling and advising on any financial matter, handling of foreign exchange transactions, handling of investments in a Depository Account, Islamic Banking transactions, Lending/ Corporate Banking transactions, SME Lending transactions, Micro financing, Money Transfer transactions, Retail Banking transactions and International Trade related transactions.”
As for the clients that the firm serves, Mr. Ray explains to us how the team approach a new client and ensure that they receive a positive experience with the firm.
“Ghazanfar Bank, through its various products and services, entertains various customer segments such as individuals, corporate, NGOs, Retail, Government entities etc. The identification of client is performed as per the need of the client through segmentation and different products of the Banks are offered in pursuance of determination of their need. The Bank offers its services (deposit or credit) to customers and segments eligible for the products in consonance with Central Bank’s laws and regulations.”
Helping the firm to deliver their award-winning services, is the dedicated team which forms the backbone of Ghazanfar Bank. When discussing the internal culture, Mr. Ray is keen to highlight the role staff play in the success of the firm.
“The staff/workforce is considered to be as blood of any organisation without which vital activities, directly attached to its existence, are performed such as creating, communicating and delivering of value. Ghazanfar Bank deems the staff to be an integral part of customer value proposition and it is not possible to deliver value, either quantitative or qualitative, to the customer without motivate, committed, determined and skilled employees team.
“Therefore, Ghazanfar Bank deems employees a valuable asset to its viability and a key stakeholder of the Bank. Since the Bank is service provider, therefore; customer satisfaction is pivotal which is only possible through the skilled staff. Ghazanfar Bank deems the role of staff has been inevitable in achieving milestones in the past and would be inevitable in exploring and achieving future prospects as well. Ghazanfar Bank, in pursuance of competing the market, believes in engaging the minds of every employee by delivering quality and healthy organisational environment and put utmost endeavours to initiate further improvements thereto.”
Speaking of success, Mr. Ray touches on the qualities the firm possesses which he believes are a key factor in the remarkable accomplishments Ghazanfar Bank have achieved since their inception. “Success of any organisation lies in satisfaction of its stakeholders to the extent possible, which is deemed as key performance indicator of determining and measuring quantum of ultimate success of the Bank. The phrase ‘stakeholders of the Bank’ denotes customers, regulators (Central Bank of Afghanistan), shareholders and employees of the Bank. Hence why, the audited annual income statements for the year 2016 and 2017 reflect double digit Return on Equity (ROE) to meet the expectations of shareholders.
“The consistent positive growth in balance sheet size in terms of total business, indicates the trust of the customers resulting in continuous increasing trend, ensuring customer satisfaction. Finally, the above discussed achievements, relating to three stakeholders, commensurate and ensures that the Bank has functioning with determined, dedicated, committed and motivated workforce.”
Looking ahead to what the future holds, Mr. Ray signs off by revealing the exciting plans which lie in the pipeline for the team at Ghazanfar Bank, especially following their recent success in Acquisition Intl.’s 2018 Global Excellence Awards, where they were awarded the accolade Most Outstanding Sharia-Compliant Commercial Bank 2018 – Afghanistan.
“Ghazanfar Bank has drafted a Vision 2020 approach which defines the roadmap of the Bank till the year, 2020. The Vision 2020 approach inculcates its strategies to ensue expansion of total business of Ghazanfar Bank and a comprehensive strategic approach has been envisaged.
“The Bank understands that Banking is centralised in Afghanistan, therefore; top 20% population is in Kabul doing 80% financial transactions. Therefore, the Bank needs to have both Short term and long term strategic approach in mind. Hereby, short term approach will refer to execution of measures to attract for Large Scale Clients to get quick businesses, so that the Bank can go for Long Term Goal of enhancing Ghazanfar Bank as a brand name along with brand identity. However, both approaches and connected activities will work simultaneously by eventually complementing each other.”
Company: Ghazanfar Bank