Meezan Bank provides First-of-its-kind Shariah-compliant solution to Inland Bill Discounting Facility for Huawei Technologies Pakistan (Pvt.) Limited

Karachi, March 24, 2022: Meezan Bank – Pakistan’s first and largest Islamic bank has successfully instituted an Islamic alternate to Inland Bill Discounting Facility for Huawei Technologies Pakistan (Pvt.) Limited – a first-of-its-kind transaction in Islamic banking industry, developed as a Shariah-compliant alternate to local bill discounting facility. The first drawdown under the facility was made against a deferred payment inland Letter of Credit (LC) opened by Pak Telecom Mobile Limited (Ufone) in favour of Huawei. The transaction has been developed by the Bank under the supervision and guidance of Dr. Muhammad Imran Ashraf Usmani – Vice Chairman Shariah Board, Meezan Bank, after a series of deliberations and persistent efforts.

On this occasion, Mr. Abdullah Ahmed – Group Head, Corporate & Institutional Banking, Meezan Bank stated, “Meezan Bank is pleased to offer yet another milestone solution for the Islamic banking industry i.e., a Shariah-compliant alternative to discounting of long tenor inland bills with provision of variable profit rates. We are hopeful that this solution will serve as a precedent for unique transactions pertaining to trade within telecom industry.”

Mr. Ahmed Ali Siddiqui – Group Head, Shariah Compliance, Meezan Bank, stated, “This endeavour of Meezan Bank displays its capability to develop out-of-the-box, innovative and Shariah-compliant solutions and reinforces its position as the leading Islamic bank of the country. We hope this solution will open a new chapter in facilitating trade among businesses and industries in a Shariah-compliant way and bring more businesses and trade into fold of Islamic banking.”

Huawei Technologies Pakistan recognizes outstanding digital skills – ‘Girls who Code’ – at PM Secretariat

Huawei Technologies Pakistan recently celebrated ‘Girls who Code‘ event held at the PM Secretariat, Islamabad. To mark the occasion Huawei Technologies donated 150 tablets to the girls program by way of Ministry of ITT. Huwaei’s continuous support of female empowerment is a driving force for the development of Pakistan. The organizations primary goals involves working with the people of Pakistan where by women and girls can become useful contributors’ to their families and thereby contribute to the national economy. Skills in the new digital age represent an enormous opportunity for the digitally adept youth of Pakistan and Huawei stands by its commitment and will continue to support the ministry of IT and women of Pakistan in this noble cause.

Present at the event was the honorable Prime Minister of Pakistan, Mr. Shahid Khaqan Abbasi, who eloquently pointed out: “Huawei and Microsoft have been kind enough to be a part of this program which is of great meaning to us. This program is mainly to bring digital knowledge to the girls of Pakistan so that they can gain employment opportunities and become a support for their families and mainly for themselves. Government of Pakistan and the IT ministry are committed to provide access to internet all over Pakistan, so that connectivity can become common and people can benefit from it. This program fits perfectly to our vision of providing employment for youth of Pakistan. This program aims at bridging gender divide as well as digital divide. More and more opportunities will be created for women of Pakistan. They hold the talent hence they should be appreciated to learn and excel in the field of coding. This program should serve as a model for other countries and should be a real source of inspiration for all. Successful implementation of this program is of great pride to all Pakistanis and especially to me.”

Anusha Rahman IT Minister stated that; “Huawei was kind enough to ask what they could do for us, we asked them to help the girls, equip them, give them tablets and they were generous enough to do so. These girls had not seen computers ever in their lives, this was made possible through efforts and support of USF, Microsoft and Huawei. These girls have been trained on computer skills and they have computer skills so that they can benefit for themselves and their families. They will be an earning hand for their families. It’s is our responsibility to provide these girls with education to take their passion of coding ahead. Through enabling themselves they have become teachers, entrepreneurs etc.”

Huawei believes that it is essential to engage the vast and competitive female segment, around the globe, to enable robust growth in every business and social sector. All the developed nations have been successful in capacity building, as they have fully developed the potential of their women. It is the need of the hour for Pakistan, to sharpen the skills and recognize the contributions of its digitally skilled female workforce, while celebrating the accomplishments of this neglected segment.

2018 GSMA Award Presented to Huawei for Outstanding Contribution to the Mobile Industry

The GSMA Award presented to Huawei Technologies with the 2018 Award for Outstanding Contribution to the Mobile Industry. The award was presented at a special ceremony held last evening, where Huawei was recognized for decades of advocating new technology standards, driving digital transformation, and building out the digital ecosystem.
At the ceremony, Ken Hu, Rotating and Acting CEO at Huawei accepted the award on behalf of the company. “Over the years, we have worked with many of you to advance 3G, 4G – and now 5G and other ICT technologies,” he said, “so that more people can get connected and enjoy better services. In this time, Huawei has connected over one-third of the world’s population. I’m proud of what we’ve achieved, but the mobile industry is evolving. It will soon become the cornerstone of a fully connected, intelligent world, and we still have a lot of work to do.”

Ken Hu, Rotating and Acting CEO of Huawei (left), accepting GSMA Award for Outstanding Contribution to the Mobile Industry from Sunil Bharti Mittal, Chairman of GSMA (right) in Barcelona

The GSMA Award for Outstanding Contribution to the Mobile Industry recognizes individuals, companies and organizations that made significant contributions to the development of the ICT industry and the advancement of mobile communications. In addition to its technological contributions, Huawei was recognized for its commitment to collaboration with the industry: it actively participates in over 360 standards bodies, industry organizations, and open source communities, where it has played an instrumental role in cultivating the broader digital ecosystem.

On behalf of the GSMA, I would like to congratulate Huawei on its commitment to pushing the industry forward,” said Sunil Bharti Mittal, Chairman, GSMA and Founder and Chairman, Bharti Enterprises. “In just 30 years, they have managed to become the largest supplier of mobile networking equipment in the world. Their contribution to global standards, approach to innovation, and commitment to helping customers and partners succeed will have a lasting impact on the future of our industry.

Since its founding in 1987, Huawei has expanded from a small reseller of telephone exchange equipment to a global market leader in telecom and enterprise network solutions and consumer devices.

Through its history the company has shown a strong focus on research and development. From 2007 to 2016, Huawei’s total R&D investment surpassed US$48 billion dollars, having invested $11 billion in 2016 alone. In recent years, Huawei has concentrated on building out the next generation of digital infrastructure by driving innovation in cloud, artificial intelligence, and 5G technologies. It continues to funnel 10%-15% of its annual revenue back into R&D each year.

For more information on the 2018 GLOMO Awards, visit: www.globalmobileawards.com/

MWC 2018 will be held from February 26 to March 1 in Barcelona, Spain. Huawei will showcase its products and solutions at booth 1J50 in Fira Gran Via Hall 1, booth 3I30 in Hall 3, and the Innovation City zone in Hall 4. For more information, please visit www.huawei.com/mwc2018/