UBL was set up in 1959 and is today one of Pakistan's major banks in terms of deposits and advances with a huge domestic and international network. Its salient features are:
UBL is a Banking Company, which is engaged in Commercial & Retail Banking and related services domestically and overseas.
History of the Company:
UBL was established in 1959 and is one of the major commercial banks of Pakistan. The Bank is making every effort to meet the up-coming challenges through strategic planning and making the best use of the resources at its command. A professional team was appointed in mid 1997 to restructure the bank and to commence rightsizing. The management is also in the process of rationalizing the branch network and identifying and recovering its doubtful and classified portfolio. It has planned to institute major improvements in customer services and internal systems to improve efficiency. It also intends to launch innovative products. The bank is increasing resource mobilization through regular deposit campaigns and accelerating the process of recovery of outstanding advances and non-performing assets.
UBL operates 1375 domestic and a subsidiary viz. United Executors and Trustees Company Ltd. as on 30.06.2000. It has 20 overseas branches situated in the UK, USA, UAE, Yemen, Bahrain and Qatar. It also operates one offshore branch in the Export Processing Zone, Karachi and it has representative offices in Cairo-Egypt and Tehran-Iran. It also has a joint venture – Oman United Exchange Co., Oman Muscat and a subsidiary – United Bank A.G. Zurich, Switzerland set up in 1968. It has 21 ATMs with 8 in the UAE, 3 in Bahrain, 1 in Doha, 7 in Islamabad and 2 in Karachi
In 2001, within OASIS, Jon Bosak, one of the inventors of XML markup language proposed the creation of a technical committee with the objective of creating a first set of business documents based on the CCTS (ISO 15000 part 5) to facilitate electronic business adoption tasks by companies and public administrations. This technical committee was called Universal Business Language.
The major advantages of this new approach to the world of electronic data interchange compared to existing models so far are that for the first time defines electronic documents according to the CCTS and secondly the TC will to produce an open standard, royalty-free and free of use. Those are the same conditions that led the Web to the success of adoption and the emergence of multiple uses and applications like browsers, publishers, booksellers, and so on.
After a 3-year effort the first version of UBL was released . This first version 1.0 of UBL was based on the preliminary work carried out by xCBL and leveraged the knowledge of UN / EDIFACT solving a basic eprocurement business process, defining the order , logistical documents and invoice.
This first version was used to develop many elements that have been crucial in the development of version 2.0. For example
The naming and design rules ( NDR), which give names to define the components , The mechanisms and devices that facilitate the transformation of XML documents into HTML or PDF readable by individuals, A dictionary of terms that allows international preservation the unique semantic components in different languages (Spanish, Chinese, Japanese, Korean and Danish)
In addition to the development of these elements were also detected some technical problems or difficulties. Challenges that have not had a technical solution and who have faced and resolved in the second version of the standard. Basically: Treatment of code lists, its definition and validation, as well as mechanisms to its restriction based on specific business requirements, and Mechanisms for customization of the schemes in accordance with regulatory requirements sectoral and / or national, specifically, the rules of restriction and extension of the schemes.
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