Iffat Nigar
Karachi,SD
Summary
Experienced Islamic Banking professional with 15 years of corporate finance exposure with a diversified client base. Recognized as Islamic finance expert at industry level – Have being ranked amongst top 100 Islamic-finance women-professionals globally during the last four (04) consecutive years (ref ‘Womani’ reports 2018 - 2021 by Cambirdge IFA UK). Senior and leading roles in career add to the credentials. Strong and long-standing industry contacts, built via business dealings with diversified client base. Thorough product knowledge, with 360 degree approach on business-matters from legal and regulatory perspectives. Senior Associate membership with CIIF (Chartered Institute of Islamic Finance Professionals), Malaysia. Awarded CEO Excellence Awards 2017 under ‘Excelling Controls’ category. Part of various cohorts driven by top management around Change Management and Diversity. Top talent recognition.
Overview
19
19
years of professional experience
Work History
Executive Director - CCIB Saadiq
STANDARD CHARTERED BANK PAKISTAN LTD (SCBPL)
01.2023
- Currently working as Team Lead for Islamic Corporate Banking and Commercial Banking Business, reporting into Head of Islamic Banking SCB Pakistan
- Core responsibilities include: Development and execution of business plan for Saadiq Pakistan’s Corporate & Commercial Banking business (Pan Pakistan basis) while achieving growth targets in terms of revenue / return on assets and equity
- Implementing cross-sell culture for Islamic business leading to diversified revenue base in terms of revenue from funded and non-funded / short-term and long-term / regular and structured facilities, as well as Liability business
- Successful implementation of Islamic business plan in portfolio relationships in leveraged business model
- Identification of opportunities and work closely with Islamic Product Team to develop customer focused Islamic products and structures
- Liaise with Shariah on thematic level matters for improving Shariah and regulatory compliance
- Manage Internal and External reviews for the business including SBP inspection, Internal Audit, External Shariah Audit, Shariah review, Peer review etc
- Major achievements include: Achieving revenue figure beyond budgeted numbers last year i.e
- FY18
- Improved penetration of Islamic business in commercial banking & corporate banking portfolios
- Closed onshore and offshore transactions with various clients including one of the largest utility provider for its working-capital, a middle market client for their facility expansion, a public sector entity in Oil&Gas sector, an MNC for redesigning its business model etc
- Improved governance status of the business leading to satisfactory ratings in internal & external reviews & audits
- Contributed significantly towards more than 37% growth in Islamic Assets over last 3 -4 years Assisted Head of Islamic Banking in implementation of Shariah Governance Framework (SGF) with correspondence / coordination / discussions with SBP & SCB Group Shariah / Product Team.
Director -CCIB Saadiq
STANDARD CHARTERED BANK PAKISTAN LTD (SCBPL)
10.2017 - 03.2023
- Currently working as Team Lead for Islamic Corporate Banking and Commercial Banking Business, reporting into Head of Islamic Banking SCB Pakistan
- Core responsibilities include: Development and execution of business plan for Saadiq Pakistan’s Corporate & Commercial Banking business (Pan Pakistan basis) while achieving growth targets in terms of revenue / return on assets and equity
- Implementing cross-sell culture for Islamic business leading to diversified revenue base in terms of revenue from funded and non-funded / short-term and long-term / regular and structured facilities, as well as Liability business
- Successful implementation of Islamic business plan in portfolio relationships in leveraged business model
- Identification of opportunities and work closely with Islamic Product Team to develop customer focused Islamic products and structures
- Liaise with Shariah on thematic level matters for improving Shariah and regulatory compliance
- Manage Internal and External reviews for the business including SBP inspection, Internal Audit, External Shariah Audit, Shariah review, Peer review etc
- Major achievements include: Achieving revenue figure beyond budgeted numbers last year i.e
- FY18
- Improved penetration of Islamic business in commercial banking & corporate banking portfolios
- Closed onshore and offshore transactions with various clients including one of the largest utility provider for its working-capital, a middle market client for their facility expansion, a public sector entity in Oil&Gas sector, an MNC for redesigning its business model etc
- Improved governance status of the business leading to satisfactory ratings in internal & external reviews & audits
- Contributed significantly towards more than 37% growth in Islamic Assets over last 3 -4 years Assisted Head of Islamic Banking in implementation of Shariah Governance Framework (SGF) with correspondence / coordination / discussions with SBP & SCB Group Shariah / Product Team.
Associate Director – Client Coverage
STANDARD CHARTERED BANK PAKISTAN LTD (SCBPL)
06.2013 - 10.2017
- A subset of responsibilities mentioned above, for all South region CCIB Islamic clients.
Client Relationships –Relationship Manager / Assistant Relationship Manager
STANDARD CHARTERED MODARABA (SCM)
08.2004 - 06.2013
- Core responsibilities and achievements: Establishment, development, and maintenance of a diverse portfolio of various corporate (comprising of multinationals, local corporates, & some middle-market names) who require routine, as well as structured financing, and other related services
- Coordination of various tasks with different in-house functions (i.e
- Risk / operations) on behalf of customers based on their requirements / needs
- Enhancing overall customer risk adjusted profitability and also SCM’s wallet-share for each name
- Revenue-generation for the Modaraba while meeting assigned sales targets
- Achieved substantial sales business volumes during various financial periods, while even exceeding the assigned sales targets during a few, leading to enhanced portfolio profitability
- Business development through marketing Islamic financial products, which include Leasing (Ijarah), Term Finance and Equity Financing (Musharika)
- Added various new names to the existing portfolio
- Risk Management: Preparation of Credit Applications (covering financial analysis, risk analysis, industry analysis, financial spreads on Moody’s Financial Analyst and projections to arrive at credit risk grades)
- Credit Monitoring and Housekeeping: Monitor and manage risk on an ongoing and proactive basis, through the monitoring of risk triggers, covenants / approvals conditions and report any breaches
- Worked collaboratively with team to prepare for portfolio review / audit by group auditors
- Development of Underwriting Standards for the business on annual basis
- Developed / Prepared New Product Programmes for the business (Diminishing Musharakah / Islamic term finance & House Finance DM), as a separate strategic initiative.
Education
Masters in Business Administration (M.B.A) - undefined
Bachelors in Business Administration (B.B.A) - undefined
Skills
Islamic-finance product and structuring expertise
Professionalcourses
- Various online & classroom courses organized by Standard Chartered Bank
- Saadiq Future Leaders Program, FY22
- Women for Board Program (by The HR Metrics), Aug-2019
- 3-day course at LUMS for Managers of Islamic Financial Institutions
- Course on Islamic Banking from CIE.
Languages
Arabic
Elementary (A2)
English
Bilingual or Proficient (C2)
Urdu
Bilingual or Proficient (C2)
Timeline
Executive Director - CCIB Saadiq - STANDARD CHARTERED BANK PAKISTAN LTD (SCBPL)
01.2023
Director -CCIB Saadiq - STANDARD CHARTERED BANK PAKISTAN LTD (SCBPL)
10.2017 - 03.2023
Associate Director – Client Coverage - STANDARD CHARTERED BANK PAKISTAN LTD (SCBPL)
06.2013 - 10.2017
Client Relationships –Relationship Manager / Assistant Relationship Manager - STANDARD CHARTERED MODARABA (SCM)
08.2004 - 06.2013
Institute of Business Administration (IBA), Karachi - Masters in Business Administration (M.B.A),
Commecs Institute of Business Education (affiliated with IBA, Karachi) - Bachelors in Business Administration (B.B.A),
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