iRepository (Institute of Business Administration)
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Revamp Maintenance of Tax Related Internal Records
No full textThis Experiential Learning Project (ELP) presents a response to a large issue in tax record management within Pakistan’s non-profit sector. This report uses the case of The Dawood Foundation’s internal processes to study this phenomenon. The complex tax compliance requirements of the Income Tax Ordinance, 2001 puts furth challenges for the companies in how to interpret and implement them, thus this project sets out to put together the best practices for a full revamp of tax related records. Through in-depth document analysis and expert consultations, it was found that the most urgent issue is the management of withholding tax records and Computerized Payment Receipts (CPRs). To tackle this problem, a very hands-on approach was implemented which included qualitative research, data collection, and organization. A system of record keeping was established through Microsoft Excel, whereby the data was classified using the relevant sections of the Ordinance. This process helped improve the accuracy, audit readiness, and the Ordinance compliance of the foundation’s tax information. Some opportunities for digital automation and better internal controls were discovered as well. This iterative method disclosed a better picture of the operational issues that non-profits face and brought forward the need for pro-active control measures to avoid taxing penalties due to non-compliance. The project served as a bridge between academic theory and real-world tax-related practices which in turn fostered critical thinking, adaptability, and problem solving. As a result of this project, a model was put out which is replicable, promotes transparency, increases donor confidence, and plays a role in the long-term sustainability of non-profit organizations who must sustain in a very complex regulatory environment. As a result, the financial accountability of The Dawood Foundation improved, and this project proved how strategic record structuring can reduce compliance risk. It was recommended to TDF that continuous staff training and policy standardization must be implemented to see a lasting impact which will allow the organization to flourish, operate more efficiently, and with greater fiscal discipline. Routine internal audits and clearly defined document protocol steps were recommended to resolve the few misalignments between operational flow and state tax requirements. By documenting each stage of the process and working with real time financial data, the team was able to get a detailed look at tax governance frameworks and internal audit prep. This learning journey was made more valuable because of the input received from the finance staff, the auditors and the legal consultants. They added practical relevance to the steps put forth as solutions. Consequently, this project not only gave out a technical product in the form of improved records but also made a large-scale strategic impact on The Dawood Foundation’s learning and capacity building efforts
Online Payment Gateway Optimization
No full textAbstract
This Experiential Learning Project (ELP) was conducted in collaboration with Swich, a fintech startup aiming to optimize its online payment gateway operations in Pakistan’s rapidly evolving digital payments landscape. The main objectives of the project were to redesign Swich’s commission structures, develop a merchant segmentation and retention strategy, benchmark its services against competitors, and explore new financial models and revenue opportunities to support long-term growth and profitability. The project followed a structured, data-driven approach. We began by acquiring and analyzing transaction-level data for January, including merchant-level activity, commission rates across payment channels, and corresponding costs. This facilitated a margin analysis that uncovered pricing inefficiencies—such as merchants being charged lower rates than Swich’s underlying costs—which were negatively impacting profitability. Using this data, merchants were segmented by transaction size and frequency to better understand behavioral patterns and profitability tiers. This segmentation informed the development of a tiered commission structure aimed at aligning merchant incentives with Swich’s financial goals. Our financial modeling through the use of charging commissions using the transaction amount slab to historical data revealed a six percent increase in revenue and a three percent improvement in gross margin. In addition to commission restructuring, we designed two further models to enhance revenue. The first was an instant settlement model offering faster fund transfers to merchants at a premium rate, inspired by global fintech practices. The second involved the development of a proprietary Swich wallet or app, where merchants could hold balances postcommission deduction. In this way interest income can be earned. These two models create a float that has the potential to boost monthly revenue by up to fourteen percent. Merchant churn was addressed through a proposed cashback mechanism integrated into the tiered pricing model, where merchants receive rebates when advancing to higher tiers. While deeper churn analysis was limited due to a lack of user journey data for the time being, this loyalty-based incentive was designed to promote retention. Furthermore, a competitive benchmarking study identified viable service enhancements, including the reintroduction of subscription billing and enabling holiday settlements—two strategies likely to improve merchant satisfaction. More capital-intensive options, such as buy-now-pay-later (BNPL) and obtaining a license to improve authorization rates, were evaluated but deprioritized based on Swich’s current capabilities and strategic direction. In conclusion, this ELP delivers a comprehensive financial strategy backed by robust modeling and market research. The recommendations—ranging from tiered pricing to possible partnerships—offer practical, scalable solutions that can significantly enhance Swich’s profitability and competitive positioning in the digital payments sector
Al-Hilal Islamic Fund Creation
No full textThis Experiential Learning Project (ELP), which was conducted in partnership with Al Hilal Securities Advisors, related to the form and feasibility of a Shariah-compliant SME lending fund within the regulatory framework of the Pakistan Non-Banking Finance Company (NBFC) framework. The basic aim was to design a financially viable, legally compliant, and operationally scalable fund structure that works within the concept of Islamic finance and fills the gap that exists in financing the small and medium size enterprises (SMEs) in Pakistan.
To do so, our group followed a phased research model of regulation, financial modeling, and client feedback loops. The project was initiated by comparing three possible structures of funds i.e. Modaraba, Private Equity Fund and Investment Finance Company (IFC). Modaraba and PE Funds were rejected as unsuitable after careful examination under legal and regulatory provisions, because of lending limitations imposed by SECP. The fund was finally reformed as a vehicle based in IFC, and it can provide Shariah-compliant SME financing in the form of contracts like Musharakah and Murabaha.
A financial model was developed to model 5-year forecasts (2026-2030) assuming the best structure, which indicated that net profitability would increase by PKR 31 million in the first year to more than PKR 105 million in the fifth year. The ROI to investors was consistently over 30 percent and the ratios of operational expenses decreased with scale. At the request of our CEO, we have added some worst- and best-case stress scenarios that show that the fund is viable under a variety of market conditions. This confirmed the flexibility in use and stress-tested durability of the model.
One more peculiarity of the project was the intended inclusion of blockchain-based tokenization, which would enable the digital issuance and subsequent trading of fund units on compliant secondary platforms after the launch.
Our key recommendation is that Al Hilal should continue the preparation of the licensing procedure following the IFC model and enter preliminary talks with investors, as well as consider the sandbox-based approval of blockchain tokenization. On the whole, this ELP shows the combination of regulatory knowledge, product development, and financial rigor can be brought to bear on producing a commercially viable Islamic financial product
SWICH Retail Strategic Exposure
No full textThis report presents the findings of an Experiential Learning Project (ELP) conducted in collaboration with SWICH; a Pakistan-based digital payments startup focused on revolutionizing the retail financial ecosystem of the country. SWICH offers services including cash-in, cash-out, airtime top-ups and utility bill payments through its retailer-focused app, with the aim of digitizing the country’s informal retail sector. The primary objective of the ELP was to evaluate the financial performance of SWICH’s core services and develop a data-driven framework to support future credit-based offerings. The project focused on three key areas: conducting a revenue and cost analysis to assess the margins at service level, exploring modifications to the existing commission structure, and developing a basic credit scoring model using retailer transaction data. These deliverables were developed through close collaboration with the SWICH team and supported by transaction-level data as well as behavioral patterns observed within the retailer\u27s data.
The financial analysis revealed that while services like IBFT and Bill Payments were driving the majority of revenue, some offerings operated on lower margins due to reasonable transaction volume and as a means to maintain brand presence in the market. These insights supported recommendations to streamline the service portfolio and reallocate focus toward more profitable and high-usage segments. Additionally, simulations of revised commission structures suggested that minor adjustments could improve retailer engagement as well as company growth. Additionally, a detailed credit profiling model was developed by clustering retailers based on transaction behavior such as frequency, volume, and consistency, allowing SWICH to segment its retailer base and identify reliable cohorts for potential lending products. Together, these insights offered a clear view of service-level profitability, highlighted opportunities to optimize incentive structures, and laid the foundation for responsible credit-based offerings.
It is recommended that SWICH starts lending to the adequate retailers who currently don\u27t have the credit facility and revises its commission structure to increase the Fee on End User by 70-100% - and match the market – which will increase their revenue from IBFT transactions and also improve margins that can be used to revise merchant commissions, if needed. This will support long-term product innovation and sustainable retail growth
Revitalizing Olper’s 375ml Derh Pao Pack: A Strategic Response to Market Challenges
No full textThis Experiential Learning Project (ELP), conducted in partnership with FrieslandCampina Engro Pakistan Limited (FCEPL), focuses on the sharp decline in market performance of Olper’s 375ml “Derh Pao” pouch. This SKU was initially introduced as a value-for-money alternative for small households and individuals shifting from loose milk, launched at a price point of Rs. 50. Following the imposition of a 25% General Sales Tax (GST) in June 2024, this SKU experienced a drastic reduction in sales, sparking urgent concerns about product-market fit, consumer relevance, and retailer adoption. The primary objectives of this project were to identify key pain points hindering product uptake, analyze post-GST shifts in consumer and retailer behavior, and propose a practical revival strategy grounded in robust market insights.
A mixed-methods research approach was employed, including 105+ consumer surveys, five focus group discussions, 121 short in-person interviews, retail audits across 50+ stores, distributor and sales force interviews, a neuromarketing experiment, and sales data analysis. This comprehensive methodology enabled a multi-stakeholder understanding of challenges associated with awareness, pricing, packaging usability, and shelf visibility.
Key findings revealed alarmingly low consumer awareness of the 375ml SKU, with only 11.4% of surveyed consumers having ever purchased it. The product suffers from a confusing value proposition, poor resale, and unclear use-cases. Retailers echoed concerns, labeling it a “slow mover” plagued by high spoilage risks and low profitability. Sales data confirmed the commercial impact of the GST, showing a 70%+ drop in both primary and secondary volumes post-implementation. Meanwhile, neuromarketing analysis showed moderate ad likability but limited emotional resonance—especially among women, who are key household decision-makers.
The implications of these findings are far-reaching. Without a targeted repositioning effort, the Derh Pao SKU risks obsolescence. However, opportunities exist to revitalize it through improved resealable packaging, culturally resonant branding, tactical pricing (e.g., bringing price under Rs. 100), and more intuitive marketing highlighting relatable use-cases (e.g., one-person meals, travel, desserts). Retailer incentives, enhanced shelf placement, and digital-first influencer campaigns are also recommended to drive awareness and trial.
This project contributes to broader industry understanding by highlighting the intersection of regulatory policy, consumer psychology, and retail dynamics in the packaged milk segment. It also aligns with UN SDGs 3 and 12 by promoting safer milk consumption and responsible packaging innovation. Strategically, the study underscores the importance of emotional branding, product usability, and value communication in navigating tax shocks and market resistance—offering FrieslandCampina a grounded roadmap to reinvigorate the 375ml SKU in Pakistan’s dynamic dairy landscape
Leveraging Artificial Intelligence for Personalized Marketing in Islamic Banking
No full textThis report presents an experiential learning project conducted in collaboration with Meezan Bank, focusing on the integration of artificial intelligence (AI) into the bank’s marketing strategy. The objective was to identify Shariah-compliant AI solutions that enhance customer engagement, personalization, and operational efficiency without compromising ethical standards. The project involved extensive secondary research, a comprehensive midterm review of global AI use cases, and primary data collection through customer surveys and focus group discussions. Based on insights gathered, the team proposed a set of tailored AI-driven marketing applications aligned with Meezan Bank’s values and customer expectations. The report outlines key findings, proposed solutions, and a structured roadmap for implementation, positioning the bank to lead responsible innovation in Islamic finance
Strategic branch expansion: optimizing market penetration for Meezan Bank in Pakistan
No full textMeezan Bank is regarded as the largest Islamic bank in Pakistan and has positioned into a key player in the banking sector of Pakistan. The bank aims to increase the number of bank branches in underserved areas, namely rural and semi-urban tehsils, as it currently serves the majority of its customers in urban concentration areas. This project report goes into great length on a growth strategy that examines the tehsils in which Meezan Bank can expand, increase financial inclusion, and gain market share with deepening its market penetration.
Meezan Bank has established itself as one of Pakistan\u27s top banks, but the absence of a systematic approach for choosing the best locations for new branches may hinder the bank\u27s expansion. Following are the key problems faced by Meezan Bank at present:
1. Lack of Data-Driven Strategy for branch expansion.
2. Intuitive decision making while selecting branch locations.
3. Extreme competitive landscape in banking industry of Pakistan.
4. Meezan Bank’s strong presence in large urban cities but limited presence in rural areas and small cities.
The objectives of the project are to perform an analysis of available data, based on which, identify branches where Meezan has no branches, or where the gap between Meezan’s branches and leading bank is very high. Perform a comprehensive analysis of market, demographic, and economic trends in different areas of Pakistan as identified through data analysis. Propose a systematic approach and site selection criteria to identify new branch locations having good business potential. Assess prospective sites for future Meezan Bank branches in different parts of Pakistan or in selected districts and cities, taking into account factors including infrastructure, competitive landscape, demography like income levels and population density. Make suggestions regarding the best location for new branch openings in order to increase market share and profitability.
The analytics performed on Project data is all integrated in Power BI for visual representation of the data for quick decision making. All the information together provided a clear picture of existing Meezan Bank branch network in comparison to competitors highlighting untapped markets and all other factors leading to the final data model and potential location identification.
The analytics is performed on overall Pakistan including the Provinces, Capital Territory, Azad Jammu Kashmir and Gilgit Baltistan Territories. The analytics is further drilled down till the Tehsil Level in the Provinces and Capital Territory data along with the data segmentation based on Urban and Rural Areas.
However, due to limitation of data availability of Azad Jammu Kashmir and Gilgit Baltistan, the data analytics is performed separately in these areas with drilling down till District Level and considering overall area inclusivity without data segmentation into rural and urban areas.
Several Tehsils across Pakistan appeared as ideal options for branching out into following this extensive analysis. These results prove that there are huge prospects for Meezan Bank in rural Tehsils and small urban areas, especially in all provinces of Pakistan including Azad Jammu & Kashmir and Gilgit-Baltistan. The Tehsils selected are ones where the growth in economy is outstripping that of banking sector penetration, hence potential locations for opening new branches by Meezan Bank. Out of 482 tehsils from all over Pakistan, we have identified and recommended 24 tehsils from Punjab province, 7 tehsils from Khyber Pakhtunkhwa province, 5 tehsils from Sindh, 2 tehsils from Baluchistan and 9 tehsils from Azad Jammu Kashmir and Gilgit Baltistan in the rural and urban regions combined.
As per the results obtained by analytics performed on this project, the proposed strategic recommendations for Meezan Bank from branch expansion are as follows.
1. Meezan Bank\u27s branch development must favor areas with low financial inclusion but high economic promise. Rural banking services, agribusiness and SME Financing services will allow the bank to tap into previously untapped markets.
2. In Tehsils where physical infrastructure might be lacking, the bank should prioritize digital banking provision, mobile banking services and ATM networks to increase access to financial services.
3. Meezan Bank could also tie its growth plans with government programs (e.g., \u27Ehsaas Program\u27, youth support, women empowerment and agriculture support programs) to increase brand awareness and acquire government-funded disbursements.
4. In Tehsils where there is a large presence of Pakistanis abroad, for instance in Gujranwala, Kharian, Dina, Mirpur Azad Kashmir, Poonch and in Swabi etc., the bank should focus on remittance services, both in the form of branches and digital platforms. The branch expansion plan of Meezan Bank is based on identifying high-growth-potential Tehsils in Pakistan where there is a strong demand for banking facilities. Meezan Bank can reach out to more customers, boost financial inclusion and reinforce its leadership in Islamic finance in Pakistan by targeting rural and semi-urban areas with low banking penetration but high economic activity. This comprehensive strategy means that the bank keeps developing sustainably, and at the same time keeps supporting the economic development of the country\u27s marginalized areas
Religious discrimination and social support: a study of the Christian community in Karachi
No full textReligious minorities face extremism, exclusion, discrimination, and violence in their daily lives, leading to their exclusion from both social and political spheres. A similar situation exists for Christian minorities, who have been experiencing the impacts of religious intolerance, placing them in a vulnerable position. The focus of the study is on Christian minority communities residing in Karachi, to understand their experiences of discrimination and to explore how the church provides support to its community. Participants were selected through snowball sampling and online interviews, with an age group of 20–30 years, who had at least completed higher education. Further, the research was guided by Cohen & Wills (1985) theory of Social Support and results showed that Christian minorities face various forms of discrimination in the education sector, job sector, and in their daily lives. However, the role of the church here acted as a protective factor and provided support in the form of emotional support, informational support, and instrumental support. This helped participants to cope with the negative impacts of discrimination and feel a sense of belonging and unity within the community and build resilience against distress. The findings of the study showed that participants lived experiences were largely homogeneous and aligned with existing literature. However, church-based support offered new insights into the types of support available to Christian minorities, which helped them cope with their circumstances. The study is limited to a single locality, which may affect the generalizability of the results. Future research could be conducted on a larger scale and should consider the geographical context, as it may yield different outcomes
Exploring the Effect of Emotional Brand Attachment on Brand Credibility, Consumer Satisfaction, and the Mediation Effect of Brand Credibility and Consumer Satisfaction on Consumer-Based Brand Equity
No full textThe continuous increase in the number of social media user provide evidence that user have emotion-based attachment (EBA) with apparel brands on social media. We want to examine how EBA on social media creates CBBE. The purpose of this paper is to develop an understanding of social media platform based on apparel brands.
This paper wants to explore how emotional brand attachment on social media platforms creates CBBE through consumer satisfaction and brand credibility. The data is collected from 300 social media users through an online questionnaire for empirical testing
From Banking to Bytes: Investigating the relationship between Gen Z’s digital financial literacy and adoption of digital wallets in Pakistan
No full textFrom a cash-based economy to a cashless society, recent advancements in financial technology (Fintech) are increasingly changing the way individuals access and use financial services. With the advent of digital financial services such as digital wallets or E wallets, individuals no longer need to carry cash to make transactions; instead, they can carry out an array of financial services, from a single app in their smartphone. Given the ease and convenience that digital wallets extend, it comes as no surprise that this is one of the most famous digital financial services, globally and locally. In Pakistan, digital financial services, particularly digital wallets have witnessed an upward surge in the last 7 years. Given this unprecedented popularity of digital wallets amongst young users it is important for us to understand Gen Z’s level of digital financial literacy and its relationship with adoption and usage of digital wallets. It is in light of this, that the present research is situated. To explore the relationship between Gen Z’s digital financial literacy and adoption of digital wallets, this study employs an exploratory correlational mixed methods approach. The current study is undertaken in two phases. In the first phase, the dominant methodology is a quantitative survey which are filled by Gen Z individuals living in Pakistan. This is complemented by a less dominant qualitative method, which include semi-structured interviews with Gen Z participants; this represents the second phase of the study. Based on 135 survey responses and 8 semi-structured interviews, it was revealed that there exists a moderate positive relationship between digital financial literacy and adoption of digital wallets. The results also highlighted that factors such an individual’s education and income play a mediating role between the two variables. These findings not only add to a nascent area of research but also carry important implications for policy makers, Governments, educators, and business owners, alike