DARING DACOITY IN FEDERAL –B – AREA, SUB BRANCH KARACHI

ICP/II/13/2011 July 29, 2011

To

The Company Secretary

Askari Bank Limited

1^st Floor, AWT Plaza

The Mall

Rawalpindi.

Subject: DARING DACOITY IN FEDERAL –B – AREA,

SUB BRANCH KARACHI

On 29^th July 2011, at about 10.28 hours a daring dacoity was conducted in Askari Bank Federal –B, area sub branch Karachi in which cash of about 3.2 million was taken away by the Gun totting bandits making a mockery of the Askari Guards and the Phoenix Security Company, whose rapid response force as usual came ceremoniously late.

Please refer to my comments recorded in the minutes of the last meeting of 2010, and again emphasized by me in my communications that the security of the bank branches are highly vulnerable especially of the south region. My repeated and constant reminders in this regards its seems has fallen on deaf ears as if the Askari Bank is managed by mavericks and school going children.

1. AGL guards at Karachi are highly incompetent, untrained unskilled demoralized and lack professional training as majority of them do not come from forces background.
2. The AGL charges AKBL about Rs. 13000 per each guard but pays them only Rs. 7500 – 8000/- which is in fact is skimming the company at the expense of competence and efficiency by deploying such nincompoop guards.
3. Why vantages points were not set up and manned as laid down in the S.O.P?
4. Why were the Security guards not deployed in the tandem position, one outside / one inside? (One outside to check / one inside to remain alert with the Gun).

Why did the Rapid response force of Phoenix Security Guard did not respond to the panic button being pressed but shirked from derelictions to their duty by putting the response on the local police as this was their jurisdiction.

Why so much money is being paid to Phoenix Security Guard, when they can not respond to threat within reaction time.

Why no regional security officer has been appointed to look after the affairs of the south region.

What is the head of establishment doing about the abysmal and dwindling security affairs of the company?

Why is the shareholder money being wasted on the pays and perks of the directors and executives of the company when their synergy and value addition to the company is below par?

Dr. Babur Zahiruddin

Share holder

ASkari Bank

Folio No. 03459-582