Company: First Women Bank Limited, Karachi, Pakistan
Company Description: Ms. Zarine Aziz, President First Women Bank Ltd. and Fellow Member of the Institute of Bankers Pakistan (IBP) is a banker par excellence and a leader such as Pakistani can be proud of. Self made, her innovative spirit and result orientation has given her recognition, both in terms of public office and awards. Ms. Aziz is a strong believer in women liberation and economic empowerment of women.
Nomination Category: Individual Awards Categories
Nomination Sub Category: Best Turnaround Executive

Nomination Title: Ms. Zarine Aziz, President, First Women Bank Ltd.

1. Tell the story about what this nominee achieved in the past year (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:

Ms. Zarine Aziz, took over as President First women Bank Limited (FWBL) in May 2001, when the Bank was at the verge of collapse.

Ms. Aziz, CFO and Audit Chief, formulated the Business Plan that evolved around
the Bank’s unique Charter and the three-pronged strategy directed towards
‘strengthening operations’, ‘improved management’ and ‘focus on women
development’. The projections of the Business Plan were achieved, as targeted.
Ms. Aziz restructured the Bank with a collective shared vision that brought
about a “Financial Turnaround of FWBL”.

The Bank accomplished highest ever results in 2003, in all key financial indicators:
Highest pre-tax-profit PKR_270_million.
In 11 years (1989-2000) pre-tax-profits earned were PKR_291_million, with loss
of PKR_271_million, the net-profit was PKR_20_million.
Accumulated losses of PKR_138_million were fully wiped out, besides absorbing
additional provisions of PKR_108_million, relating to prior years.
Highest Balance Sheet size PKR_9.7_billion.
Five consumer credit products developed and launched.
Highest Advances position PKR_1.3_billion.
Highest Deposits level PKR_8.1_billion.
Highest Net Assets value of PKR 31.46 per share.
For the first time, the Bank issued 20% Bonus Shares, raising its paid-up
Capital from PKR_200_million to PKR_240_million and further to PKR_283_million,
in 2004.
7% negative Capital Adequacy Ratio improved to 24% positive.
Relocated its Head Office to rebuild its corporate image.
From non-existent IT system, to fully automated network of 38 branches, March 2004.
Long-term “BB” ‘Speculative grade’ Credit Rating upgraded to “AA” ‘Very high
credit quality grade’.

Ms. Aziz, realising the importance of support services, launched the ambitious
product ‘Financial Service Desk’ to truly support and empower businesswomen with five important components - Trade Services, Credit Management, Legal
Counselling, Tax Consultancy and Marketing.

Ms. Aziz tapped foreign & local collaborations to support FWBL’s activities for
skill development, capacity-building, women’s access to micro-credit and
socio-economic development of women.

In collaboration with ILO, Combating Child Labour in Carpet Weaving Industry,
for the first time, the Bank directly financed women micro-borrowers in rural
area. The project identified 42 micro-businesses, provided skill-training to 375
rural women. Disbursed micro-credit to 972 women living below poverty line in 64
villages, with 100% recovery rate.

Collaboration with CIDA for support of the three Financial Services Desks and
training of 200 female bankers. 44 women have completed six-weeks advanced
training through the Institute of Bankers Pakistan.

Depilex–Smile Again, the Bank financed the project and first 10 burnt women
victims, belonging to lower income strata, were successfully operated by Italian
surgeons.

Zarine Aziz’s outstanding performance and FWBL’s Turnaround 2003 has been
acknowledged by the Government and the corporate world: the Government promoted Ms. Aziz to the highest cadre of “Senior Executive Vice President” (March 03, 2004), Letter of commendation from Mr. Shaukat Aziz, Prime Minister Pakistan (then Finance Minister) (May 04, 2004); The Institute of Bankers Pakistan invited Ms. Aziz as key-note speaker on the “Will-power for a Turnaround” (April, 2004); Reappointed as the President of FWBL (June 10, 2004); Conferred with “Women of the Year Award” (October 08, 2004).

2. List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:

Supporting materials for this nomination were submitted offline.

Commendations from
World-renowned personalities for
Ms. Zarine Aziz

Mr. Shaukat Aziz, Prime Minister Pakistan (then Finance Minister Pakistan)
commendations to Ms. Zarine Aziz, on Bank’s outstanding performance and
achieving the highest ever results in all key indicators during the period 2001
– 2003.

“I wish to congratulate you and your team in the First Women Bank Limited for an
outstanding performance and achieving highest ever results in all key indicators
during the period 2001-2003. I trust that the performance will be maintained
rather accelerated for making the First Women Bank Limited a leading financial
institution.”

Dr. Attiya Inayatullah, Member Executive Board UNESCO & Former Federal Minister Pakistan message to Ms. Zarine Aziz on 14th Anniversary of the Bank: Quote “Can it be true that First Women Bank Ltd. has survived what can almost be called a calculated demise by its detractors? Yes, -it is true that that First Women Bank Ltd. has not only survived as a commercial bank and development financial
institution, the only one of its kind in the world, but is today a proven
banking institution in Pakistan.

"In this survival whilst the vision of Shaukat Aziz, Minister for Finance &
Economic Affairs and Dr Ishrat Hussain Governor State Bank of Pakistan, is
recognised, the credit must go to the FWBL team led by its President Zarine
Aziz.This indomitable woman has proven her leadership qualities, but above all
it was her commitment to accept assignment as a challenge that has brought about
what is no less than a miracle.
   "On the 14th Anniversary of FWBL, I dedicate this tribute to the many women who have benefited and there are still in millions waiting out there to be served by
the Bank. We all know, and know it too well, that poverty has a female face. 
Pakistani women have proven that given the opportunity they have the talent in
all categories of business ranging from micro to small and medium size.
   "I am grateful that when I was able to influence matters, I had faith in the
turnaround of the Bank and conviction that Pakistan must not let this unique and
specialised financial institution languish. I wish FWBL’s management all success
in its endeavours.”

3. Provide a brief (up to 100 words) biography about this nominee:

Ms. Zarine Aziz, President First Women Bank Ltd. and Fellow Member of the
Institute of Bankers Pakistan (IBP) is a banker par excellence and a leader such
as Pakistani can be proud of. Self made, her innovative spirit and result
orientation has given her recognition, both in terms of public office and
awards. Ms. Aziz is a strong believer in women liberation and economic
empowerment of women.

Ms. Aziz started her career as officer in United Bank Limited where she got a
distinction of being the “First Lady Manager” elevated to manage a General
Banking Branch. United Bank Ltd. recommended her for recruitment in the United
Nations Secretariat, New York, USA.

She joined First Women Bank Limited (on deputation) in 1989. She dedicatedly
worked towards achieving distinctions and received the best sector executive
award for three consecutive years.

She gave a new vision to the Bank, “To be the lead bank for women: Dynamic,
adaptive and responsive to their special economic needs, offering the best
financial services and the best banking practices.”

She is the recipient of several awards, given to women in acknowledgement for
their public services.