Mian Shahid elected Chairman Pakistan’s Apna Microfinance Bank
Reposes full confidence in Pakistan’s economy, policies UIG will continue to play role in national development
Vows to attract foreign investment, boost employment.
The Board of Directors (BoD) of Apna Micro Finance Bank has elected Mian M. A. Shahid as Chairman of the bank.
Mian M. A. Shahid is a noted investor who is already serving as Chairman of the United International Group (UIG) that include Saudi Pak Insurance Company, United Insurance Company, Tawasal Insurance Services, Abu Dhabi, UIG Global, UK, and United Track Systems etc.
The board of directors appreciated his services and skills as he swung to profit Saudi Pak Insurance Company which was in loss at the time of acquisition and transformed United Insurance Company in one the of the reputed organisations in country’s insurance sector.
The BoD hoped that the new chairman will work hard for making organisations profitable while stressing corporate social responsibility, loans for homeless and supporting the cottage industry.
Speaking at the occasion, Mian Shahid expressed full confidence in the economy which he said is doing well despite hurdles.
He lauded the policies of the government terming them highly enabling and supportive for investors. “I will try best to attract foreign investment in Pakistan to boost economy and reduce unemployment,” he said.
Shahid said that 56 per cent of the adult population has no access to formal financial services while only 10 per cent of SMEs are served by banks resulting in socio-economic disparities.
Low-income groups remain deprived of proper financial services which is impeding their development, he said
Stressing the importance of ethics, he said that insurance is a good social welfare tool that can have a positive impact on businesses and lives of millions in which principles should not be compromised under any circumstances.
Effective cooperation among team members is essential to the success of any business while lack of cooperative environment is fatal for organisations, he said.
To a question, he said that farmers deserve right production decisions to reduce risks associated with their occupation. To me business should be humane to serve the humanity, he said.
Chairman’s New Year Message
The year 2012 has flown but marked stars on UIG history. The year 2012 was full of various challenges, strong competition and burdened global economy markets. UIG Companies faced these challenges with passion and hard work out.
The mother Company of UIG the United Insurance Company of Pakistan Limited stepped ahead and its overall financial performance further improved by the Grace of Almighty Allah.
United Track System is well known in the Pakistan’s Tracking market. UTS enhanced its image and trust through its quality products and services.