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With the diversity of culture in Pakistan, local and foreign banks have relatively the same operating strategies. These strategies do change depending on the city or the cultural strength in that city but the strategies within the same city of almost every

bank is the same. The banks we have discussed in our findings and analysis are

situated in the major financial cities of Pakistan (Islamabad, Rawalpindi, and Lahore)

and the small strict Islamic law city of Quetta. Recruitment and selection mainly

takes place in head or regional offices in Pakistan. However because of the informal

recruitment and selection process in Pakistan, sometimes branch managers also

refer the appointment of a new employee with their own or with mutual consent of

the regional HR office.

In this research, questionnaire were send to the HR and Branch manager of the

selected banks in selected cities as discussed in methodology chapter. The analysis

and results will be presented in three major sections. They are

 Role of HR in banking sector of Pakistan

 Cultural influence on Pakistani business.

 Recruitment and selection difference among Pakistani and foreign banks.


We will start our analysis with the discussion on the role of HR in the banking sector

of Pakistan. As the banking sector is flourishing in Pakistan, we will see how local and

foreign banks' HR departments deal with the operating & cultural strategies in


Respondents from Pakistani banks agree that HR in Pakistan is fully operational.

While majority of foreign banks agree with Bhatnagar and Sharma 2005, Bird 2004

that HR in Pakistan is still in the introductory stage. Pakistani business environment

(Khilji 1996, Khan et al. 1996) and our limitations shows that we faced this problem

in accessing the HR departments of banks in Pakistan and after the privatization in

mid 90's and more foreign investments in Pakistan, the banking sector is growing

fast but not at the international standards. This proves that HR is still in its

introductory stage.

Further research shows that besides its work as separate department, HR in both

Pakistani and foreign banks is involved in a company's operating strategies. Although

foreign banks have set benchmarks and higher international standards than other

local banks to achieve and compete with, HR plays a vital role in the recruitment and

selection process of Pakistani banks and has effective training programmes for

employees in both local and foreign banks. Respondents in two Pakistani banks (ACB,

BAL) said they have low expectations from HR departments but are satisfied with

their contribution.

5.2.1 Differences within Standard Chartered Bank

A slight change has been noted within SCB's operating strategy in Pakistan. Its

Islamabad and Lahore branches' strategies differ with the SCB Quetta branch. The

main reason is that; Quetta is culturally different from Islamabad and Lahore. A strict

Islamic city with lower level of education, living standards and infrastructure makes it

different from other major financial cities. Another reason is at SCB's (Quetta),

recruitment and selection is done in their regional head office. The officers in SCB

(Quetta) deal mainly with consumer banking and are not fully operative in the

recruitment and selection process.

5.2.2 HR main focus in bank

In this statement, we'll analyse which area HR is mostly focusing on. The HR role is in

its introductory stage but putting its mark strongly in HR area. With the arrival and

strong competition from foreign banks and after privatisation specifically, local banks

are showing positive results especially in HR department which was a forgotten

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department a decade ago. Nearly all the four Pakistani and foreign banks strongly

agree on the role of the HR department's contribution in recruitment and selection,

employee development and training programmes. All four Pakistani and foreign

banks are highly satisfied with HR's contribution in each of the above areas. A slight

dissatisfaction has been noted in the promotion and bonuses area of both Pakistani

and foreign banks. Two Pakistani banks (UBL, HBL) are old banks with vast branch

networks and apparently they are not happy with the promotion and bonuses

structure, while the other two new and private banks are contributing more towards

promotions and bonuses. Similarly in foreign banks the low expectations in

promotion and bonuses is because of the limited foreign banks in the country. Very

few job placements are open for external jobseekers. This makes strong competition

within the banks for employees to retain themselves. High demand of foreign banks

among all sorts of Graduate students and experienced workers is affecting the

promotions and bonuses of employees. Foreign banks are creating "a take it or leave

it" situation in banking sector. Foreign banks are maintaining the banking standards

in recruitment and selection and employee's relationship. Competition among

employees and tough targets from bosses and managers are making it difficult for

employees to put their hands on bonuses, but foreign banks do take care of their

employees with quick promotions and higher salaries.


1: Culture plays a main role in Recruitment & Selection process

As discussed earlier in our literature review an understanding of culture plays an

important role in any organisation's business when they go abroad. From the

responses to our questionnaires we have found that all four Pakistani banks agreed

with Hickson and Pugh (1995), Hofstede (1988- 94) and Paige (1999), that culture

plays an important role during the process of recruitment and selection. Large

network of branches in every part of Pakistan forces local banks to understand the

cultural requirement of that area. On the other hand SCB ISB & LHE (British Bank)

and CITIBANK (USA) disagree with the importance of national culture during

recruitment and selection. They agreed more with Khilji (1996), Jacob (2005),

Jackson (2004) and Plakhotnik and Rocco (2006), that it depends upon the area and

city of operation. Foreign banks' emphasis is more on multicultural operational

strategies. From the analysis, we can see that SCB, which is operating in Pakistan for

more than 150 years and has just acquired a local bank, has a mixed response. In the

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major cities of Lahore and Islamabad SCB are not as fully agreed as cities in Pakistan

are having a common urban culture. In SCB Quetta they do consider local culture

during recruitment and selection. Strong Islamic culture in Quetta is because of the

geographical location which is a is a city in the east of Pakistan close to Iran and

Afghanistan and has a strict Islamic environment.

2: Political involvement (personal recommendation)

As a part of culture, political involvement of country does affect the recruitment and

selection process and strategies of a company. Pakistani banks disagree with

Hofstede (1988); Tarique et al. (2006); Khilji (1996) and Yan 2003, that there is

political involvement in their operations and during the recruitment and selection

process (direct or personal recommendation). Being a local bank it is easy for them

to commence and operate their business with the help of GOP and SBP. On the other

hand foreign banks disagree but did not deny the political involvement or personal

recommendations depending on the area and city and agreed with Carroll et al.

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(1999) and Hurn (2006). On asking them, they mentioned that there is no

involvement from the government in the operation, but SCB-LHE and SCB-QTA

agreed that sometimes recruitment and selection does involve personal

recommendations from the top management internally.

3: Government and legality do affect business strategies (Pakistani Laws)

As part of culture, the national cultural laws and legalities do affect the operating

system of multinational companies. Pakistani banks disagree with Khilji (1996-2001),

Budhwar and Khatri (2001) and Hofstede (1988), that government legalities and

policies are affecting their operating and business strategies. Local banks, being part

of the country, are not so affected.

Contrary to local banks, Pakistani laws and legalities highly affect the business

operations and strategies of foreign banks. Foreign banks have to work, if not fully,

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but partially under the Pakistani government and banking rules as shown in the


5.3.1 Role of Islam in Recruitment & Selection

As we have discussed earlier in our literature (Khilji 1996-2001) Islam is a major

cultural trait for multinational organisations in Pakistan. More than 95% of the

population is Muslim in Pakistan. People try to live according to the Islamic faith and

laws told by Prophet Mohammad (PBUH) and in Quran. With the changing global

business scenario and fast and open media, Pakistan is also taking steps to move

with and closer to its western countries. In this section we will analyse the role of

Islam on Pakistani business culture and its affect on it. (Tayeb 1997 and Khilji 1996).

To start with the local banks, we have analysed that besides being an Islamic

country, Islam does not play a role in a company's operating strategies. All the four

banks have disagreed that Islam affects their company's business and operating

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strategies. In our literature review (Khilji 1996-2001 and Tayeb 1988-97) proved that

Islam does not play a role in a company's operating strategies. This also leads

towards recruitment and selection. All the four Pakistani banks disagreed that Islam

is involved in the recruitment and selection process which shows equal opportunity

procedures in Pakistan. These findings agree with Hofstede (1988) and Hampden

Turner & Trompenaars (1995- 97) research, who did not consider religion as part of

business culture. All the local Pakistani banks strongly disagreed that they give

priority or favour to candidates who have Islamic education from Islamic colleges or

universities. There is no favouritism on religious grounds which indicates that all the

recruitment and selection process in local banks of Pakistan is on a merit basis rather

than on religious or higher Islamic educational backgrounds from renowned


For most of the foreign banks and organisations, Pakistan is considered to be a strict

Muslim country. As a Muslim country with diverse culture and languages and a fast

growing economy, makes multinational organisation think of how to enter the

market and sustain rather than to earn profits. In fact most of the multinational

organisations are doing well because of their research on the culture of Pakistan.

Despite the strong Islamic environment, foreign banks disagree that Islam changes

companies operating strategies. If we analyse SCB in Pakistan, they disagree that

Islam changes their operating strategies in Pakistan but having been operating in

Pakistan for the last 150 years, they do understand the extent of Islam in Pakistan.

They were the first foreign bank to start Islamic banking and Islamic products

according to Sharia law. In our analysis, we see that foreign banks also strongly

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disagree with the involvement of Islam during the recruitment and selection process

and that there is no favouritism or priority to the applicants who have Islamic

educational backgrounds or who are graduates of Islamic colleges and universities.

All the recruitment and selection is based on equal opportunity and merit according

to the job requirement which they agreed with it.

In response to the Islamic involvement, SCB did change their business strategies than

their standard operating strategies in case of SCB Quetta. Here they disagree with

Khilji (1996- 99) and Tayeb (1997) about religious importance in the recruitment and

selection and business strategies. Rather they agreed with McSweeney (2002).

Quetta, as we had discussed earlier, is a strict Islamic city with strict Islamic rules for

business, religious concern and low education, all under the Islamic influence. On

asking from branch manager that why Quetta have been high and agreed with

Islamic business strategies and priority to Islamic knowledge and degree holder

candidates in the recruitment and selection. The manager of that branch responded

that the people of Quetta city are not highly educated but are highly influenced by

Islamic laws and Sharia and do business under strict Islamic laws where there is no

interest. SCB recruit and select candidates who also have an extra knowledge of

Islamic background to deal with such customers. SCB have introduced interest free

banking under Sharia law with interest free loans and financing.

While ABN AMRO bank signed a strategic alliance with one of the biggest Pakistani

Islamic bank (Al-Meezan investment bank) and issued Riba free investment

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certificates. Contrary to SCB, Citibank and ABN AMRO are still in negotiation with SBP

over issuance of licence on Islamic banking.

4: Bureaucratic business environment

Bureaucratic environment in the organisation tells us about the power distance in

the company. This bureaucratic environment can affect the two way communication

and employee's performance and promotion.

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In response to the bureaucratic atmosphere in the company, surprisingly Pakistani

banks disagreed with Khilji (1996) and Ratnam (1998) and denied having a

bureaucratic or bossy atmosphere or attitude towards employees in the company.

On the other hand, we have seen rather different situation. The majority of the

foreign banks do admit to having a bureaucratic atmosphere and bossy attitude

towards employees. The reason behind this is that foreign banks are few in number

with an extra burden on employees. To maintain the level of standard in the

branches, bosses have to be strict towards their targets and tasks which sometimes

create a bossy atmosphere and affect employee's performance. While working for a

multinational organisation in Pakistan, it does create a bureaucratic atmosphere. All

the top management of foreign banks are foreign qualified with vast experience and

with strong family backgrounds which does create a gap between top and lower


5: Hierarchy and Communication with higher management

Pakistan is among those countries where the level of hierarchy is high. Pakistani

banks and foreign banks agreed with Hempden turner & Trompenaars (1995-98) and

Khilji (1997) about having a high hierarchy in their organisation. All Pakistani and

foreign banks agreed that communication with the top management is easy. This

high hierarchy in Pakistani banks is not creating bureaucracy or a culture of the

individual, as we have analysed earlier. Research also shows that there is mixed

culture in most of Pakistani and foreign banks.

On the other hand, Citibank disagree that they have high hierarchy in their

organisation. Citibank have low hierarchy level because of the few branches and a

HQ in Karachi. All the employees are answerable to a department manager who is

answerable to a branch manager which shows an American business culture in their


Citibank have a different scenario. Even though the hierarchy in Citibank is not high

in Pakistan, according to American cultural hierarchy, the communication level is

quite low. Citibank agrees with Bonaccorsi di Patti and Hardy (2005), Khilji (2002),

and Bird et al. (2004), that there is lack of communication with higher management.

This also shows the power distance (Hofstede 1988) in the bank's culture. Citibank as

an American bank with an aggressive approach and few branches in Pakistan which

makes the business environment more competitive for employees with targets

assigned to them by their bosses. Citibank in Pakistan always try to hire the best

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graduates and experienced employees and expect a result from them lower down

the level of communication.

6: Collectivist or individualistic

Nearly all the Pakistani and foreign banks have disagreed that they prefer individual

task completion than team working and agreed with Hofstede (1988), Hofstede &

Peterson (2000), Hampden Turner and Trompenaars (1995-2002) and Khilji (1996).

Under Pakistani cultural influence, organisations do inherit the cultural spirit of

working together. Research also shows that the culture in all the local banks is more

collectivist. The foreign banks in general do have a collectivist culture, but Citibank

(USA) disagrees that they have a collectivist culture. The working culture in Citibank

is mixed. It is more or less functioning in teams but the overall competitive and

target oriented culture makes employees focus individually on their task completion.

This culture is more likely to be influenced by both American and Pakistani culture.

7: Bank's culture Influences from American/British organisation culture.

Two Pakistani banks (ACB, BAL) strongly disagreed with Khilji (1996-99) and Tarique

et al. (2002) that they are influenced by American or British organisational culture.

But the other two banks (UBL, HBL) which are old and have worked during the British

time in subcontinent, do have British influences on them. ACB is influenced under

the army of Pakistan as it was first opened with funds from the Pakistan army. Half

of the board are still army personnel but this is gradually changing. Citibank has its

own culture influenced by American and Pakistani culture.

8: Masculinity or femininity

In our literature review, we mentioned that Pakistan is half way in masculinity and

femininity in Hofstede research of culture (Hofstede 1988, 1994 and 1998b). With

the change of time and the growing economy of Pakistan influenced by British and

Americanisation, Pakistan is moving towards femininity. Research shows that

growing media and foreign influence have changed the culture and helping to bring

women into the working sector. More and more women are playing a part in the

local and foreign business organisations of Pakistan. Two out of four Pakistani (ACB

BAL) banks disagree that they have a masculine oriented culture and agreed with

Hofstede (1988) and Khilji (1996). The other two banks (UBL & HBL) are the old

national banks with Pakistani cultural traditions and British influence. This is

changing a lot, but being a large organisation, they still possess a masculine culture.

On the other hand, foreign banks also have a culture moving towards femininity.

However in case of SCB Quetta, who disagree with both Khilji (1996) and Hofstede

(1988, 1998b), where female employees are playing vital role now, still possesses

and are dominated by a masculine approach because of its Islamic laws and

conservative attitude towards women working.

Pakistan was on halfway between masculine and feminine, this research indicates

that Pakistani culture is changing and moving more towards a feminine culture.

9: Local/foreign banks are competitors

In response to this, Pakistani banks consider their local and foreign rivals as big

competitors and agreed with Bird et al. (2004) and Cooke (2003). On the other side,

foreign banks have different response. Foreign banks do consider their local and

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other foreign banks as their rivals, but every foreign bank has different operating

strategies in Pakistan. SCB have their change strategies according to the area, as in

case of SCB Quetta. Citibank have different operating strategies from any other bank.

Their aggressive operating strategies make them less competitive to other banks but

more monopolistic. As the only American bank with few branches, Pakistan's

industrial sector's import and export mainly depends on Citibank especially in deals

with America. Citibank is generating profits and have captured market regardless of

their fewer branches.

10: Job satisfaction & security

In nearly all the local banks, respondents have shown their satisfaction with the

company and job security in long term. The boom in the banking sector has brought

huge changes in the cultural setup, operating strategies and employees

relationships. On the other hand, foreign banks have mixed responses on this. Job

satisfaction and security in the long term depends on the overall performance of the

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employees. Foreign banks are providing the best organisational structure and

environment with employee satisfaction. But they do demand results in return which

sometimes makes it difficult for employees to fulfil and puts their job in danger.


Fig: 4.1 "Company does have proper R&S policy for Workers"



Most of the foreign and Pakistani banks work under the banking ordinance and the

laws of the state bank of Pakistan. The majority of the banks have to fulfil a certain

level of banking requirements according to the Pakistani banking laws. Foreign banks

had played a big benchmark role in bringing the banking industry to new horizons in

Pakistan. Today, with growing economy and tough competition in south Asia

particularly in Pakistan, local banks are trying to achieve the same level as foreign

banks. The major development has been achieved in the HR department of Pakistan.

This HR development brings better employee relations in the banking industry. This

is mainly achieved by proper recruitment and selection of employees. In this section

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of our analysis, we find out the differences among the recruitment and selection

process of local and foreign banks in Pakistan.

In our literature review, we have discussed informal and formal recruitment and

selection process. In this analysis we will find out about how the local and foreign

banks adjust their recruitment and selection process with the local cultural traits and

the level of their emphasis on each step. As discussed earlier, majority of the local

and foreign banks disagree with the informal recruitment and selection process.

Higher competition and more skilled people make it clear and straightforward for

banks to hire the best in job market. In our findings, we will analyse how local and

foreign banks work during each step of recruitment and selection.

1: Proper R&S process of worker and managers.

Research shows that all Pakistani and foreign banks strongly agree with Edwards and

Rees (2006) and Aycan (2005) that they have a proper recruitment and selection

procedure for workers and managers in their organisation (aside from the

recruitment and selection for workers done in the regional or main HQ).

2: Special quota system for rural candidates.

The majority of the Pakistani banks agreed with Payne (1995); Carroll et al. (1999)

and Hurn (2006) on having special quota or seats for rural candidates. With their vast

branch network in most cities and towns of Pakistan, local banks hire mostly from

those rural area with special seats for disabled people.

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On the other hand, foreign banks especially ABN AMRO & Citibank, not having

extensive coverage of branches in Pakistan, mostly disagree or are not sure about

the special seats for disabled and rural applicants. The majority of foreign banks have

their branches in the major financial cities of Pakistan. Citibank have only 6 branches

in Pakistan. This makes foreign branches hire internally or from the best from the

banking market.

3: The Recruitment and Selection process is highly organised in local and/or MNC


Nearly all the Pakistani banks agree that they have a more highly organised

recruitment and selection process than their local and foreign rivals. On the other

hand, out of the three foreign banks, two (SCB and ABN AMRO), agree they have a

highly organised recruitment and selection system. While Citibank does not consider

their process as highly organised as other rival banks and disagrees with Gamble

(2000) and Dowling et al. (1993). The main reason is that they have very few

branches with a low hierarchy and more internal hiring.

4: Special Recruitment and Selection rules rather than standard operating rules in


With wide network branches, Pakistani banks agree with the special R&S rules made

for the Pakistani market. Growing Islamic banking is one of the major areas where

local banks are putting their efforts. Most of the foreign banks work with their

standard banking rules used worldwide, but also change their rules depending upon

the area (Hofstede 1988-97 and Khilji 1996). This is the case with SCB-QTA, in a strict

Islamic small city.

The introduction of Islamic banking by SCB in Pakistan makes them the first foreign

bank to introduce Islamic banking. The strong growth in Islamic banking is pushing

foreign banks to introduce or alliance with Islamic banks.

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5: Discrimination laws and acts (gender, disable, and race) is fair-play in your


With the flourishing banking industry and strong benchmark from foreign banks,

Pakistani banks are also taking strong role in eliminating discrimination from the

industry. Most of the Pakistani and foreign banks agree that all discrimination acts

are fair-play in their organisation. A decade ago with less participation from women

in jobs, discrimination on rural and urban bases with high bureaucratic and

favouritism in business organisation made local companies hard to work.

6: Online application and Walk in resume

The results and chart shows that all Pakistani and foreign banks are using online

applications as part of their recruitment and selection. Similar responses were given

with regard to the statement relating to the walk in resume. The majority of

Pakistani banks agreed with it, while the majority of foreign banks did not consider

walk in resumes in their recruitment and selection process. They want every

application to be mailed, posted to their HR department, HQ or regional HQ for jobs

(except for internships). The online application process is widely used in western

countries to save time and expenses.

7: Dept tells HR for their required person and job advertisement.

In the majority of local and foreign banks, departments tell the HR department of the

persons required for their departments. After job analysis, the HR department

advertise jobs in the media. The majority of local banks strongly agree that they

advertise their jobs in media externally for hiring more than internal advertisements,

depending upon the job requirement. On the other hand, foreign banks also

advertise jobs in media but they put more emphasis on internally hiring.

8: Institute of Bankers used for bulk hiring

There is a huge difference among local and foreign banks in their part in the Institute

of Banker for bulk hiring. Local banks having larger number of branches in the

country and with huge number of applicants have to use the Institute of Bankers as a

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third party recruiter to choose suitable employees, depending upon the seats


Foreign banks disagree with the use of the Institute of Bankers, mainly for two

reasons. One is that the Institute of Bankers works mainly for local banks under

Pakistani banking ordinances and the second reason is that foreign banks do not

have enough job spaces open to engage the Institute of Bankers for hiring. Most of

the time foreign banks use internal hiring or advertising.

9: One to one or group interviews and assessment centres.

Pakistani banks are in high agreement with Ludlow (1991) and Millmore (2003) on

one to one interviews in the recruitment and selection process. They place more

emphasis on one to one interviews than group interviews. Pakistani banks also

agreed with Maitland (1997) and Edenborough (2005) about using assessment

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centres for aptitude and written tests. The last decade had brought lots of changes in

the banking sector because of economic development.

On the other hand, foreign banks use assessment centres for recruitment and

selection to select the best applicant after different written and group tests. This use

of assessment centres also put emphasis on the group interviews as part of their

aptitude test than one to one interviews. Group interviews identify the ability to

work with other team members.

10: Contractual or Permanent Hiring

Results and the chart shows that all the local banks are highly agreed with the

permanent hiring. Contrary to permanent hiring, Two (HBL, UBL) out of four local

banks disagree about the contractual hiring in recruitment and selection. These two

banks (HBL, UBL) were old national banks under the government and turned into

private banks during mid 1990s. The other two banks (ACB, BAL) are new private

banks and considered best among the new local banks. Banks use contractual hiring

to save training and other expenses.

Contractual hiring in Pakistan is a six month probation period after that it can be

turned into permanent contract depending on the performance. Contrary to local

banks, foreign banks are in favour of contractual hiring. Foreign banks are seemed to

be the pioneers of innovation in recruitment and selection process in Pakistan.

Contractual hiring is started by foreign banks depending totally on employee's

performance and past experience.

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11: Higher education matters

Three out of four banks agreed that higher education matters in recruitment and

selection. On the other hand foreign banks also agreed with the requirement of

higher education.

12: Past/Related work experience matters.

Two (ACB, BAL) out of four local banks disagree that past work experience matters

during recruitment and selection process. One interesting thing is that these two

banks are new private banks. This shows that these banks welcome fresh graduates

and applicants in their organisations. While one bank disagreed that they require

work related experience in their recruitment and selection process (Edward and Rees

2006). On the other hand majority of foreign banks strongly agreed that the past

work experience and work related experience does matter during recruitment and


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13: English language/Special skills matters

In a country where patriotism and Islamization is at an extreme level, both local and

foreign banks highly agreed on knowledge of English language in recruitment and

selection process. Foreign banks highly agreed on the knowledge of English language

to compete with local and other foreign banks and higher standards.

Same results in the area of special skills for both local and foreign banks. Today in a

high-tech age, special skills in applicants put him or her in front of everybody else

(Budhwar et al 2006).

14: Past work references matters

Majority of all local and foreign banks agreed on the requirement of past work

reference in the process of recruitment and selection (Aycan 2005 and Wright et al.


15: Family background and Medical clearance matters

Only one bank out of four local banks agreed that family back ground matters during

the process of recruitment and selection. While on the other hand, only one

respondent agreed on the requirement of family back ground. The majority of the

difference among foreign banks is because of the different places with different subculture.

The majority of Pakistani and foreign banks disagree with family background

and medical clearance in recruitment and section process (Hall 1997).

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The above mentioned are some of the differences among national and foreign bank's

recruitment and selection processes.

5.5 Challenges faced by Pakistani & Foreign Banks 'Banker's Point of View'

The major challenges faced by the Banking Industry of Pakistan are:

 Shortfall of highly skilled professionals.

 Central Bank regulations.

 Streamlining hierarchies.

 Employee motivation

 Hiring the right talent

 Making people analyze their needs and demands.

 Making people get aware of the Consumer Financial solutions.

 Competitor's strategies towards hiring.

 Quality Assurance.

 One window operations.

 Employees need more incentives and perks, so in order to reduce turnover

the ratio of incentive should be raised otherwise the budget and time

constraint will keep affecting the industry.

 Attrition in company's trained HR due to enormous growth in local banking


 Availability of trained resources in the market.

 Newly emerging and fast growing banks having set objective in mind of

improving company's overall strategies and policies which provide better

recruitment and selection strategies.

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 Political instability and law and order situation in Pakistan.

 Requisite knowledge not imported to students in their higher education.

These challenges faced by foreign and local banks can be overcome if Pakistani

educational, Islamization, bureaucracy, business culture and government all sit

together to approve set objectives. These objectives will not only going to help

multinational companies but also local companies in order to be successful and

create bright future for Pakistani nationals and Pakistan itself to emerge as a

successful nation on the map of the world.