Crashing Through Barriers: Economy, Taxation, PIA Crash & More Ft. Zafar Masud | 388 | TBT
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- Опубліковано 18 тра 2024
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Zafar Masud is the President & CEO of Bank of Punjab and Chairman of Oil & Gas Development Company Limited.
#thoughtbehindthings #muzamilhasan #banking #finance #taxation #economy #regulation
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00:00 Introduction
02:23 Early Life
03:00 Growing Up as an Actor's Son
04:23 Living in the Public Eye
08:31 From Artistic Roots to Banking
12:18 Family History
17:48 Socioeconomic Classes as Mindset
23:11 His Education
25:39 The Story of Getting into IBA
35:29 How it went?
38:00 Joining American Express
41:02 Why Chartered Accountancy?
44:01 Experience at American Express
45:15 Importance of Emotional Expression for Men
46:50 Father’s Health Scare & Moving to Lahore
48:07 Joining Citi Bank Pakistan
48:52 Career Progression
49:52 Working Non-Stop
53:00 Taking up a New Role in Barclays
54:29 Working with Different People
56:51 Pakistani Diaspora Abroad: A Soft Power?
1:01:47 Starting a New Venture
1:04:08 Becoming a Board Member at the State Bank of Pakistan
1:06:14 Switching to National Savings
1:07:26 Transitioning to Government Service
1:10:54 What happened next & getting into BOP
1:16:15 BOP's Changes Under Him
1:22:20 The Purpose of Public Sector Banks
1:27:43 Privatization of State-Owned Entities
1:31:13 Letting Go of Profitable Entities & Managing Revenue Guzzlers
1:36:13 Will the ‘Single Buyer Model’ change?
1:41:16 Surviving a Plane Crash
1:44:13 Survivors Guilt
1:46:38 Learnings from it
1:49:40 Life After the Crash: Shifts in Relationships?
1:54:03 Tax Collection, Money Printing & Fiscal Stability
2:02:58 The Flaws in the System
2:04:49 Solving the Pension Problem
2:11:01 ‘White’ Economy, GDP Projections & Data Insights
2:18:10 Analyzing Dollar Flows
2:21:00 Discussing Taxation in Detail
2:31:31 Wealth Tax
2:34:25 Inheritance Tax
2:35:19 Why is this important?
2:37:10 Are Banks Really Rentseekers?
2:42:43 Demonetization: Would it work in Pakistan?
2:47:02 His Perspective on the Future of Currency
2:59:15 Pakistan of 2050
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Totally agree with the pension point of view!
We are proud of Zafar who started with us at American Express Pakistan's as a Managment Trainee. Masha Allah he has done so well professionally, but still is a humble person.
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Imagine I listened all in bits obviously, but really enjoyed whole conversation...great
مزہ آیا
Great podcast and very interesting person
Have seen him in another podcast. Respect him! V well read person.
Only 46 minutes passed just like a few minutes what a powerful episode.
It seems to me that everyone who comes to this podcast just needs a mic to then can talk their heart out
*Best fact unveiled at **2:56:00**! About false and overrated neighbors*
My favorite Sir Muzammil & Madam Humna (Love From LHR) ( Proud of Pakistan ).
Muzammil bhai mey 10 ghantey ki podcast sunney k liyey bhi tayyar hu ap bs quality yhi rakho. Love u
Phenomenal conversation!!
2:54:03 Small correction: The number in everyone's bank account is not 100% backed up by cash. This is where the concept of fractional reserve banking comes into play. This why when everyone tries to withdraw from the bank at the same time, you get a bank run.
In addition: when a state bank/federal bank injects liquidity into the economy/bank/business, it is mostly numbers on the screen/in the books. Actual printing on paper isn't taking place. The printing slowly catches up if physical notes are required.
My sources? I have learned most of these things from the UA-cam channels "The Plain Bagel" and "Ben Felix" among others.
amazing personality
Zafar Masud is a phenomenal leader. Incredible depth, and humility. Thankful to such humans.
Amazing conversation
Thoroughly enjoyed the podcast discussion on economy. The insights provided by Zafar Masud were incredibly valuable. As always Muzammil you did a great job facilitating the conversation. Looking forward to more episodes that delve deep into crucial economic topics.
May his learnings inspire our souls . Must read book indeed. Please share book name upon release
great podcast
finally watched full episode. Wow thanks
the introduction has hooked me in! I am so excited Muzammil Bhai!
i didn't plan to watch anything but now i am gonna listen it to the end Inshllah 🥰🤗
How army allocation in budget can be curbed ? How budget allocation in proper field like scientific education , health sector can be increased?
Brilliant Podcast! Zafar Sir is a true gem and a great mind. His solutions to taxation, pension and how he addresed reforms to agri, retail and real estate sector are practical and implementable, which is something we cannot say for other guests that have been on TBT to date. The way Zafar sir painted a true picture of everything is truly commendable. This was truly an insightful episode Muzammil. Kudos to you and the whole TBT team for making this podcast with Zafar Sir happen. Keep growing wish you the best of luck for the future.
کمال انتخاب ، زبردست نشریات پروردگار استعدادکار میں مزید برکتیں عطاء فرمائے_آمین
صاحبان نشست اور موضوعات کی کاملیت پر کیا رائے دی جاسکتی ہے فقط حضرت علی (رض) کا یہ فرمان کہ: "تقوی سادھو پن نہیں بلکہ صلاحیتوں کو پروان چڑھانے کا نام ہے_"
2:56:00 پر ظفر صاحب نے جس پنجابی اکھانڑ(محاورہ) کے متعلق اشارہ دیا وہ یوں ہے کہ : "جنہاں دے گھر دانے ، اوہناں دے کملے وی سیانے" اور "آرکائیو" سے متعلق آپ کی بات بہت بہترین ہے اس ضمن میں ممکن ہو سکے تو منور سعید صاحب، ڈاکٹر شاہد مسعود، ڈاکٹر معید پیرزادہ اور عمر شاہد حامد ان حضرات کے ساتھ بھی ایسی ہی نشست ترتیب پائے تو خوب نشریات ہوں گی انشاءاللہ
Its harder to get wealth tax than income tax. Many countries have tried wealth tax in the west but raises very little.
Lovely conversation
Loved every bit of this podcast. Thankyou for this conversation.
00:02 Zafar Masood's remarkable journey and authentic personality.
02:24 Zafar Masud's early life and family background
07:46 Sarmaya Financial Platform offers training and data for trading
10:08 Zafar Masud shares his background and inspiration for his career in banking.
16:02 Priority of education in middle-class families
18:23 Mindset is crucial for thriving despite fluctuating resources
22:51 Zafar Masud's educational background
25:07 Zafar Masud's journey from graduating with honors to appearing for the IBA test.
30:19 Impact of PIA Crash on Zafar Masud's Career
32:06 Zafar Masud discusses changing interview locations and challenges faced while traveling.
35:37 Struggles and success during academic years
37:47 Zafar Masud talks about his career journey and job opportunities
41:42 Entrepreneurship requires independence and initiative.
44:00 Overcoming emotional barriers and societal expectations.
48:27 Zafar Masud's career journey from American Express to Citibank and setting up Dubai Islamic Bank in Pakistan.
50:44 Importance of love, marriage, and hard work
54:53 Building a strong support system is crucial in navigating challenges.
56:56 Seeking validation from close ones is more important than public recognition.
1:00:42 Overcoming challenges and finding success
1:02:35 Transition from success to personal growth
1:06:42 Discussion on challenges and dynamics of government and banking sector
1:08:47 Quality of talent and system inefficiency in government recruitment
1:12:45 Zafar Masud becoming interim CEO and setting up a company
1:14:47 Discussion on accepting a lower salary for independence in operating
1:18:45 Challenges in attracting talent in public sectors
1:21:04 Bank of Punjab achievements and role in the economy
1:25:46 Importance of developing specialized institutions beyond the private sector
1:28:00 Privatization of public sector entities
1:31:55 Privatization as a potential solution
1:33:52 Discussion on privatization and competition promoting
1:37:52 Discussion on the impact of regulation and rent seeking in the economy
1:39:43 Discussion on power distribution and privatization
1:44:00 Survivor guilt and its impact on the speaker's life
1:46:25 Reflecting on life, regrets, and readiness to go.
1:51:10 Importance of personal connections for success
1:53:24 Discussion on financial targets and tax collection in Pakistan
1:57:11 Taxation and economy impact
1:59:27 Currency in circulation decreased to 8.4 trillion due to fear-driven deposits.
2:03:22 Challenges in government recruitment and restructuring
2:05:01 Pension issue resolved through new hiring and compensation structure adjustments
2:08:51 Utilizing pension fund for real estate development
2:10:49 Efficient government function and pension benefits
2:15:03 Digitalization and data sharing for improved economy and tax collection.
2:17:03 The importance of GDP and informal economy in shaping the society.
2:21:06 Taxation impact on agriculture and real estate
2:23:06 Consider targeted cash subsidies instead of general subsidies
2:26:58 Advocating for tax imposition on various sectors for economic growth
2:29:08 Challenges with DC rate concept and property pricing mechanisms
2:33:07 Discussion on wealth tax and inheritance tax
2:35:11 Pakistan needs a paradigm shift in tax system
2:39:13 Banks face competitive environment and government funding requirements
2:41:29 Efforts to bring cash into the system and improve economy
2:45:26 Monetization impact on Indian economy and tax collection
2:47:30 Challenges and opportunities of digital currency
2:51:24 Digitizing cash and implementing strict policies for economic benefits.
2:53:38 Transition to digital rupee will be digital only
2:57:23 Implementing QR payment system with incentivization and taxation
2:59:15 Zafar Masud's perspective on the future of Pakistan
3:03:52 Pakistan facing economic challenges and seeking peace
3:06:16 Realization of collective inclusiveness and hope for a brighter future for Pakistan.
3:10:24 Discussion on the economy, taxation, PIA crash, and more
You Can't Judge A Video By Its Cover. you can by its first few chapters and certainly by its last.
Finally...you TOOK YOUR TIME with your INTRO...you didn't rush through like you were running to catch a train.
What a great podcast. Always found Zafar Sb to be the most humble and honest person. Kudos🎉
Well said self accountability is really important, hum sab se ziyada apne aap ko accountable ker sakte hein
Amazing insightful discussion.
Great podcast but only one suggestion for the host, kindly let your guests speak more !
Great 👍 n phenomenal profile. However, can we know about the other survivor
amaze
Very nice interview... all memories. Remembered day by day OR month by month and so on stilllllll... great🌹🌹
kamal❤
I am regular listener of Muzzamal podcast, omm but i left after 20 min. Lolz
Yes. In American Express...
❤
In kay ghar kay nimbo bauhut khae 😂. His first cousin (chacha daughter) was with me at lums and we lived in the same hostel because she was from Karachi. One time she bought a giant basket full of fresh nimbo. We put it in everything including maggi noodles 😂😂😂
trend line mian kehtay hain candle cut nahi honi chahiay, second, trend line kahan say start karni hoti hy? please resolve this ambiguity, aor ye channel hr time frame main chaltay hain, ye best TF konsa hy intraday and swing as well sclap kayliay
+++ structure kaisay identify kartay hain price action main - internal and external
It is great to hear but one thing I want to mention a quite annoying thing the noise between talk and no noise when anyone not speaking it can be between words it feels annoying
May most of the listeners had faced this
?
The word TAX have been used a million times in this episode. I think the idea of imposing additional tax at this time is absurd. It will only lead to squandering of funds by the beaurucrats (much vaunted CSS), politicians and military in the form of security details, armoured card fleets, foreign trips and many other things which I think would need another podcast to explain.
What an incredible episode.
Longest episode bump
jb kisi level pe range shoro ho jaay tu kaisa nikaltay hain ke ye support bana rahee hy ya resistance pe ruki hy?
trend line mian kehtay hain candle cut nahi honi chahiay, second, trend line kahan say start karni hoti hy? please resolve this ambiguity
Table Tennis...1986 to 1988
👏🏼👏🏼👏🏼
ohh bhai yeah rightly or wongly kya cheez hoti hai?!!!!
Muzammil please sound me koi issue h jb koi pause aata h to bar bar ek vauge ka sound kabi aarha h kabi jaa rha h lagta h video stuck o gai h but real me wo pause le rhy hoty
shah gjinhan de ghr dane unhan de kamle v sianne
❤❤
If you have a Prado and sending your sister to study in US, makes you upper middle class.
Yes, exactly. Having a Prado….
Jay day kaar Daany (wheat )'
oo dy kamlay v siaanay :D
Why not Fundamentals like Education and Health Sector?
Can't we estimate the black GDP by calculating each industry and sector's white GDP and the through that estimation we can extrapolate the results through the percentage of how much of GDP is not regulated.
How'd you find the ratio of black to white
Pakistan m 5000 ka ek note h😮....
Or Fsc 1986 to 1988
at first u know that the transaction of upi . in term.. u dont know data dont talk about that.
GST is 18% not 17%.
have not talked about govt expenditures on lavish life of bureaucrats, technocrats, politicians and army burdened on common peoples lives. Huge loan bad debts because of political background business, though he has expertise but he was biased at least he should fearless after this death experience and already have achieved/earned everything in his life.
Qadri sab . Apka kuch ni ho skta
😅😅😅😅😅
get married dont delay if you love someone
14:20 big mistake by his family by moving to pakistan lol..
اگر اپنے پروگرام کو مقبول بنانا ھے تو اپنی انگریزی دانی کی قابلیت کو اس پروگرام سے ھٹ کر کہیں اور ظاھر کرکے سامنے والوں کو متاثر کرلیا کریں۔
خود تو انگلش پول پول کر نظریں کو بور کر رھے ھو اپنے پروگرام میں بلائے گئے مہمان کو بھی انگریزی بولنے
پر مجبور کر رھا ھو۔ اس سے بہتر تو یہ تھا کہ کسی انگریزی ٹی وی چینل پر اپنے پروگرام کو آن ایئر کر دیتے۔
LOl this guy must be related to Pak army or PMLN so that makes him a patwari and corrupt
total bullshit...makes no sense
I am from india i live in second tier city and you can buy 85% of things without cash
trend line mian kehtay hain candle cut nahi honi chahiay, second, trend line kahan say start karni hoti hy? please resolve this ambiguity, aor ye channel hr time frame main chaltay hain, ye best TF konsa hy intraday and swing as well sclap kayliay
trend line mian kehtay hain candle cut nahi honi chahiay, second, trend line kahan say start karni hoti hy? please resolve this ambiguity
😅😅😅😅😅