RDA - Govt upright initiative indeed.

Byline: KHALIL AHMED

Interview with Mr Hamad Rasool Bhullar - an analyst

PAGE: Tell me something about yourself, please:

Hamad Rasool Bhullar: I am currently working with a large public sector organization. With respect to my work with the financial sector, I have been involved in research and training for over 28 years and so far, and conducted over 300 trainings on different aspects of Finance, Business Ethics, Audit and Corporate Governance from basic concepts to professional applications in Projects Finance, Shariah Compliant risk management, investment management and Corporate Governance etc. in addition to the freelance consultancy and Financial Advisory in these fields I have also remained a non-executive member on the Board of an Investment Bank.

My qualifications and experience over the last 32 years, have mainly been a mix of Accountancy, Corporate Law, IT, Economics, Corporate Finance, Islamic Finance and Takaful, Business Turnaround, Projects Finance, Audit and Ethics with trainings and business advisory in these areas of corporate sector as well as public sector within and outside Pakistan.

PAGE: How would you comment on Roshan Digital Accounts?

Hamad Rasool Bhullar: A good initiative indeed by the Government of Pakistan and State Bank of Pakistan being a great step towards financial growth. I had said in a previous discussion that Pakistani banks have to explore this opportunity for the development of Pakistan by approaching the non-resident Pakistanis who have great funds with them to attract these funds by offering and approaching the people. Benefits of any 'investment structure' flow to the stakeholders if the plan gets success, which depends on the point where all the stakeholders agree and work on common agenda. Instead of spending more on advertisement in local media, they must produce certain case points in videos and share them with the possible depositors. However, the current scenario calls for a revised structuring of this plan as the interest rate in Pakistan have hugely gone up with a major political shift.

PAGE: What is your perspective about the remittances sent by the Pakistani diaspora residing in Gulf countries?

Hamad Rasool Bhullar: As it an established fact that a major chunk of our remittances come from the Gulf region. By a careful estimate in Jan 2022, a total of $32 billion in remittance inflows was expected for the current fiscal year 2021-22 from over nine million overseas Pakistanis all over the...