New product is launch to expand scope of Mutual Fund, which will meet financial needs of corporate sector: Dr. Amjad Waheed

Mian Rashid Asghar.
FAISALABAD: Dr. Amjad Waheed, Chief Executive Officer of NBP Fund Management Limited, has said that a new product is being launched to expand the scope of Mutual Fund, which will meet the financial needs of the corporate sector. Here you will also get the best returns on your savings. He was talking to President Dr. Khurram Tariq during his visit to Faisalabad Chamber of Commerce and Industry today. Senior Finance Manager Sajjad Hussain, Zonal Head Syed M Abdullah, Asim Nisar Rana and Chamber of Commerce and Industry Deputy Secretary Finance Bilal Sharif were also present on this occasion. He said that despite the current economic conditions, Pakistan is one of the ten largest economies in the world in terms of the size of the economy, but serious efforts are needed to get it out of the current crises. He said that the total portfolio of NBP Fund is 240 billion rupees, of which 24 billion rupees belong to the corporate sector of Faisalabad. He said that there is a clear difference between a fund and a bank. We are giving our investors a return of up to 16% while the difference in Kibor is also transferred to the clients immediately. He said that the fund has only one branch in Faisalabad while the National Bank has forty branches. But the fund’s returns cannot be matched by any bank. He said that earlier we could not give quotations about the returns for a particular period, but now the fund has introduced a new product in which the returns can be determined in advance for 3.6 months and up to a year. He said that government institutions have purchased security bonds from various commercial banks with huge amount of money which can be invested in NBP fund. He said that he often meets important personalities of the local corporate sector. However, he would like to meet small investors as well and would need the help of the Chamber in this regard. Faisalabad Chamber of Commerce and Industry President Dr. Khurram Tariq welcomed Dr. Amjad Waheed and said that he would soon arrange a meeting with the small investors of his fund. He also identified some areas from which the fund could benefit. He specifically mentioned Faisalabad Chamber, FESCO and FIDMAC etc. in this regard and said that the fund has to give confidence to its clients so that they can benefit from this investment. Finally, Dr. Khurram Tariq also presented the commemorative shield of Faisalabad Chamber of Commerce and Industry to Dr. Amjad Waheed.