NOVEMBER 2001
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NOVEMBER 2001 Contents

Women's Issues

Muslim Women challenge
Islamic Fundamentalism

- Dr. Sima Samar

- Asma Jahangir & Hina Jilani

- Sultana Kamal


Omar Abdullah


Overlooked & Ignored
- Kashmiri Hindus


Pakistan Squash - The Khan Supremacy

- The Hashim Saga

-Azam, Roshan, Mohibullah

-Lahore 1960 - 80

-Gogi Alauddin

-Qamar Zaman & Hiddy Jahan

-Jahangir Khan

-Jansher Khan


Security & Trust in Internet Banking

-South Asian E-Banking

-Telecoms & Banking

-Security Issues in Banking

-PKI - Digital Credentials

-Internet Banking & E-Govt in south Asia


Perceptions of a  Lahorite

Editor's Note



the craft shop

the print gallery


Silk Road on Wheels

The Road to Freedom

Enduring Spirit

Parsis-Zoroastrians of

The Moonlight Garden

Contemporary Art in Bangladesh



Page  2  of  6


Security and Trust in Internet Banking



Salman Saeed


The South Asian Banking scene

Only 2 Highly Automated Banks

Very few Banks in South Asia have state-of-the-art automation. Some cite trade unions in India as a barrier, some blame the poor quality of the paper currency notes for ATM’s. There are a few exceptions.

-- HDFC Bank under A. Puri – ex- Citibanker [ see Jan 2000 ] spent about a billion rupees on Information Technology to place HDFC at the forefront of Technology based banking in India. HDFC has 1 million customers served by 350 ATMs. Profits soared Rs 1.2 billion from Rs 200 million in 1996. HDFC expanded aggressively to 123 Branches in 43 cities / towns . Each Branch has between 4-8 staff supported by networked computers and ATMs.

-- ICICI Bank [ K.V. Kamath is ex-ADB and director & CEO of its parent ], Profits increased Rs. 1.07 billion from Rs. 170 million in 1996. It has 86 Branches in 50 cities / towns.

South Asian Banks - Bad Loans & Lack of Automation .

---The 27 Indian State owned Banks have about 15 % to 50 % bad loans . The Pakistan State owned banks are in a similar shape , and it has taken the efforts of ex-Citibankers such as Shaukat Tarin to clean up the bad loans of United Bank [ UBL], and Union bank .

-- In talking to a major Chartered Accounting firm in Delhi , it appears that because Accounts Reconciliation is manual in most Indian State banks , the banks’ Assets & Liabilities are completed skewed and out of date .

-- The Bombay Broker Harshad Mehta, took advantage of this time lag of settlement in a manual banking system to effectively play the Bombay Stock Market using Bonds as capital to do highly leveraged trading.

A fossilised bureaucracy in the Government sectors [ with few exceptions ] meanwhile drags its feet over these new technologies .





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