First Dawood Investment Bank Limited
UAN: 111-DAWOOD
First Dawood Investment Bank Limited
About First Dawood Investment Bank Ltd.

First Dawood Investment Bank Limited (FDIB) was incorporated on June 22, 1994 as Dawood Leasing Company Limited, with a paid up capital of Rs. 250 million. It is listed on the Karachi Stock Exchange in Pakistan. Against the public offering of Rs. 95 million, the company received a subscription of over Rs. 140 million despite bearish market conditions at the time of floatation. After thirteen years of business operations, a balance sheet size of over Rs. 12.22 billion was achieved. Not only that FDIB made consistent profits over these 13 years and paid handsome returns to investors and shareholders.

The liquidity crunch in the financial sector during last quarter of 2008, resulted into abrupt withdrawal of money market lines from commercial banks and DFI’s due to which FDIB was subjected to an uncalled for run by the creditors. FDIB attended the creditors concerns and within a span of one year settled more than 92% of its liabilities.

The balance sheet size has come down to Rs 3.0 billion and equity turned negative due to provision and losses sustained during the run on situation. However, due to support & co-operation of major lenders, the equity has recently entered the positive zone.

The Bank is now on the path of regaining its lost position. Various efforts to comply with equity requirement are underway. As of 31.03.2010, the equity has turned positive upto the tune of Rs.202 million.
 
Mr. Rafique Dawood - Chairman
Mr. Rafique Dawood is the Chairman of Board of First Dawood Investment Bank Limited. He is an MBA from Harvard Business School and has an extensive exposure to business having held senior management positions with various family concerns both in Pakistan and abroad.
Mr. Rafique Dawood (Chairman FDG)
Mr. Muhammad Rizwan-ul-Haque - SEVP Merchant Banking
Mr. Muhammad Rizwan-ul Haque is an MBA from ‘Punjab University, Lahore’ with a major in finance. He has got 20-years of Investment, Corporate & Commercial Banking experience. Mr. Haque’s area of interest & expertise is; Corporate Finance & Restructuring, Corporate Management, Dispute Resolution and Islamic Finance. Mr. Haque is working for about eight years as ‘SEVP’ and as senior-most person in ‘FDIB’. He is responsible for presenting the novel idea to settle outstanding liabilities of ‘FDIB’ against its assets, in view of severe cash crunch situation, since 2008. The implementation of the idea assisted ‘FDIB’ to settle with over 50-institutions for amounts valuing Rs.7.5bn (i.e. over 80% of total loans) in three and half years and ‘FDIB’ has successfully come out of the debt trap without any external financial assistance. This is an unmatched feat in global corporate world. Earlier, Mr. Haque was actively involved in establishment of new entities including; ‘Dawood Islamic Bank Ltd.’ and Dawood Family Takaful Ltd.’ (DFTL). Prior to ‘FDIB’, Mr. Haque has worked with foreign banks and also with a renowned brokerage house. He has personal interest in ‘Islamic Finance’ and has done some independent work on it. Mr. Haque is also a director and elected Chairman of ‘DFTL’ (an Islamic Life Insurance Company), which is making steady progress.
 
Vision Statement

To become the leading progressive and profitable investment bank through innovative, proactive and responsible management that provides the highest level of quality service to clientele. The strengths will be introducing new profitable products and services. 
 
Mission Statement

  • To offer value in terms of dividend yield and capital gains to shareholders.
  • To meet the growing comfort lend & satisfaction of our customers.
  • To endeavor to achieve a lasting relationship with clients and associates on the principles of mutual beneficiated business relationship.
  • To fulfill maximum possible social responsibilities and remain a good corporate citizen.
  • To add value to the Industrial development of the country.
  • To ensure continuous Human Resource development at all level of employee at the company.
  • To maintain a suitable reward policy for high achiever employees.
 
Corporate Strategy

  • Ensuring shareholders' security and a high rate of return on investments.
  • Striking the right balance between risks and rewards.
  • Offering the optimal mix of products and services to customers.
  • Maintaning highest standards of integrity, honesty and ethics.
  • Building a long lasting relationship with customers.
  • Providing level playing field, growth & development opportunities to the management and staff of the company.
 
Strength

We are strengthening and reinitiating our efforts to restart our without compromising on quality. Our credit rating will improve as the bank starts functioning once again with same zeal and spirit. Our current strength is our new stake holders (Covetable preferred share holders) NBP, ABL, Askari bank, BOK and others. Moreover with downsizing the balance sheet footings, from Rs. 12 billion to Rs. 3 billion, a niche has been created to accommodation business opportunities remain aggressively..
 
 
 
 
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