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ABL Report

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Lareb Ali
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© © All Rights Reserved
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Business Ethics Report

ALLIED BANK LIMITED (ABL)

Group Members:
Muhammad Khizar 2211364
Syeda Fatima Zahra Naqvi 2218163
Lareb Hidayatullah 2211383
Lareb Ali 2311381
Aagya Khetpal 2218142
Acknowledgements

We are extremely thankful and indebted to ABL’s Branch manager,


Muhammad Saqlain, and the Operations Manager, Umm e
Habiba, for sparing more than 2 hours of their extremely valuable
time for our questions and for being so patient and thoughtful and
contributing so positively to our project.
Introduction

Allied Bank Limited (ABL), headquartered in Lahore, Punjab,


Pakistan, is a prominent commercial bank with a rich history and
extensive network throughout the nation.
Established in 1942 as Australasia Bank, the institution has undergone
significant transformations, evolving into one of Pakistan's leading
banks with an extensive range of financial products and services.
Services and Innovations

• Allied Bank’s Metaverse Branch: An innovative virtual branch


offering a unique digital banking experience .
• Allied Digital Lockers: Providing secure digital storage
solutions for important documents .
• Asaan Mobile Account (AMA): Simplifying the process of
opening and managing bank accounts through mobile phones .
• Open Banking Services: Facilitating seamless financial
transactions and integrations .
• Pay Anyone Feature: Enabling swift and convenient payments
directly from customer accounts .
Awards and Recognition

1.Global Diversity Equity


Allied Bank has been honored with Global Diversity Equity &
Inclusion Benchmarks (GDEIB) Best Practice Award in Job
Design, Classification, and Compensation by HR Metrics

2. Finance Asia Awards 2024


Allied Bank has swept the stage at Finance Asia 2024, securing
five prestigious awards, including the distinguished title of Best
Domestic Bank of Pakistan.

3. The Banker 2023


ABL’S unwavering commitment to delivering world-class,
digitally integrated solutions to customers, passion for
innovative thinking, mission to create sustainable value for all
stakeholders.

4. Momentum Awards – Issuing Bank – 2021

5. Best Bank for CSR 2021


Identifying ABL’s Ethical Issues

Here, we identify ethical issues related to Allied Bank Limited.


These issues range from fairness and honesty, privacy and data
protection, transparency and non-discrimination etc.
To identify their ethical issues and gain knowledge about any
such ethically challenging incident we visited Allied Bank and
communicated with their Branch Manager, Operations
Manager and other staff members.
Upon interviewing the staff we learned about certain ethically
challenging incidents as well as the solutions and they are listed
as follows :

How do you deal with difficult customers?

Scenario
The customer delivered the cheque to the counter teller, who
was not able to read the amount written on it.
The teller asked the customer to rewrite the cheque for clarity, to
which the customer became infuriated and angrily retorted, "If
you can do it better then you write it." Teller's fractured right
hand made it difficult for him to write clearly.
As a result, the situation became increasingly heated, the client
became angrier and louder, and the customer believed the teller
didn't know how to read or write.

Solution:
The Operations Manager intervened when things became
heated, telling the teller to stop disputing with the customer and
to take his word for it.
In an act of moral responsibility, she calmed the client down,
brought him to his office, and had a very humble conversation
with him.
In response, the client said he had nothing against her or her
bank, but that he would not put up with the teller's behaviour
and would take the matter to social media.
He did so as a result, and this situation grew and was brought to
the attention of headquarters. The branch's operation manager
was contacted by the headquarters team, who instructed her to
resolve the situation as it was highly embarrassing.
As a result, the manager of the operation called the client and
asked him to retract his complaint for the benefit of their
reputation. The customer eventually consented to do so after
exchanging respectful phone calls.

How do you ethically cater to the lower income and less


educated clients with no financial knowledge?

Scenario 1
A client from a very low-literate background once came to the
bank to pick up her husband's pension after he passed away.
The main issue was that she couldn't even speak Urdu; instead,
she was speaking in a native language that the bank's employees
couldn't understand.

Solution:
The Branch Manager provided the solution to this that she
showed the woman with a practical example, taking her through
every procedure herself and making her understand about the
system like you follow a doctor’s introduction and how it works
so that in the future she does not get confused about it.
Scenario 2
Once a man came to the bank to open his account as he received
a very big amount and he wanted to deposit that. The client was
a small business owner and he did not have a documented proof
of income which is required by every bank as per their policy.

Solution:
For such customers, an annexure is provided by the bank in
which the client is supposed to provide important information
like tax and property distribution.

How does Allied Bank ensure avoiding investments that


could have social and negative environmental consequences?

Scenario
There was this client who wanted a loan for some factory
equipment and Allied Bank have a strict policy that they don t
cater to any request to loan any equipment without
understanding its impact on the environment.

Solution:
So the Branch Manager went to the factory to acquire proof of
whether the machinery would be environmentally friendly. And
he took pictures as proof.
What measures are in place to prevent corruption and
bribery within the bank?

ABL’s preventive measures are as follows:

1. Implementation of Strong Internal Controls


ABL has established robust internal control mechanisms to
detect and prevent fraudulent activities.
• They have a whistleblowing policy in which any member
can report any unethical activity or financial misconduct
and the reporter will remain anonymous.

• ABL enforces a policy in which if the teller handed less


cash to the customer i.e. the amount does not match with
the one written on the cheque, the excess amount is
suppose to go to the sundry account. In this way the bank
prevents the cash from going in the teller’s pocket.

2. Third Party Provider Policy

ABL ensures alignment with the bank anti-corruption


following:

• Allied Bank have strict policies regarding the security of


client information which they are not supposed to share
with any of the third party providers they are engaging
with.

3. Employee Training and Awareness Programs

ABL holds mandatory education and training for every


member of the organization to recognize and combat
corruption and bribery.

• Annual mandatory training sessions on anti-corruption


policies.

• Workshops and seminars on ethical decision-making.

How does Allied Bank promote diversity and inclusion


in its workplace?

• Allied Bank has established comprehensive policies


aimed at promoting diversity, equity, and inclusion
across all levels of the organization.

• The bank implements fair and inclusive hiring practices


to ensure a diverse workforce. This includes targeted
recruitment strategies to attract candidates from various
backgrounds, including underrepresented groups.

• The bank supports various employee resource groups


that cater to different demographics, providing a
platform for employees to connect, share experiences,
and support each other.

What values or morals ABL believes are essential for


ethical banking?

• The staff should be very respectful and humble


towards their clients as well as their staff members

• The staff believes in addressing their clients with


their names to give them a sense of nobility.
• They believe in being in good listener

• They believe in dealing with every client from


different social groups with respect to their levels of
understanding.
Our suggestions

• Develop and regularly review a comprehensive conflict of


interest policy that.covers all potential scenarios.

• Incorporate ethical performance metrics into the


performance evaluation and compensation system for all
employees,.especially senior management.

• Develop a comprehensive corporate social responsibility


(CSR) strategy that aligns.with the ABL’s core values and
the needs of the local community

• Provide sales staff with training on ethical sales practices,


with a.focus on customer-centric approaches.

• Conduct regular audits.and penetration testing to identify


and address vulnerabilities in the information systems.
Annexure

Branch Manager of Allied Bank


Limited
Muhammad Saqlain
Cell
0332-2203128
Email
[email protected]
Operations Manager
Umm e Habiba
Branch Location
New Sabzi Mandi Branch (0009), Karachi.

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