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Total Quality Management Essay

4104 words - 17 pages

Executive Summary
United Bank Limited (UBL) is one of the leading commercial bank in Pakistan which is currently having more than 1,000 branches nationally and 15 branches internationally. UBL has state of art online banking facility available for its customers and Deposits, Cheque Cash, Account Summary and Transfers can be easily done online.

They have following services:
• Commercial Banking
• Consumer Banking
• Corporate Banking
• Foreign Exchange
• Treasury
• Overseas Banking Division
Banking Industry
Banking in Pakistan falls within 10 segments, which are as follows:

Background of UBL:
UBL has been operating since more than 47 years in Pakistan ...view middle of the document...

2. The directors have confirmed that none of them is serving as a director in more than ten listed companies, including this Bank.
3. All the resident directors of the Bank are registered as taxpayers and none of them has
defaulted in payment of any loan to a banking company, a DFI or an NBFI or, being a member of a stock exchange, has been declared as a defaulter by that stock exchange.
4. During the year Mr. Javed Sadiq Malik stepped down as director and Dr. Ashfaque Hasan
Khan was nominated by the Government, other than that no casual vacancy occurred in the
Board during the year.
5. The Bank in year 2004 prepared “Statement of Ethics and Business Practices” for directors
and employees, it has been signed by the directors and employees. During the year the same
has been circulated as required by the code.
6. The Board has developed a vision / mission statement, overall corporate strategy and
significant policies of the Bank. A set of significant policies are maintained by the Bank.
7. All the powers of the Board have been duly exercised and decision on material transactions, including appointment and determination of remuneration and terms and conditions of employment of the Chief Executive Officer have been taken by the Board.
8. The meetings of the Board were presided over by the Chairman and, in his absence, by the
Deputy Chairman. The Board met at least once in every quarter. Written notices of the Board
meeting, along with agenda and working papers, were circulated at least seven days before the meetings. The minutes of the meeting were appropriately recorded and circulated. The
Company Secretary and Chief Financial Officer attend the meetings of the Board of Directors.
9. The appointment of Chief Financial Officer, Company Secretary and Head of Internal Audit including their remuneration and terms of employment have been approved by the Board.
10. The Board arranged orientation course for its director’s to appraise them of their duties and responsibilities.
11. The directors report for this year has been prepared in compliance with the requirements of the Code and fully describes the salient matters required to be disclosed.
12. The financial statements of the Bank were duly endorsed by the Chief Executive Officer and Chief Financial Officer before approval of the Board.
13. The directors, Chief Executive Officer and executives do not hold any interest in the shares of the Bank other than disclosed in pattern of shareholding.
14. The Bank has complied with all the corporate and financial reporting requirements.
15. The Board has formed an audit committee. It comprises of three members, all of whom are non-executive directors including the Chairman of the Committee.
16. The meetings of the audit committee are held at least once every quarter prior to approval of interim and final results of the Bank, as required by the Code. The terms of reference of the committee have been formulated and advised to the committee...

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