Bank AL Habib
Encyclopedia
For the original bank with a similar name, see: HBL Pakistan
The Bank AL Habib Limited, run by the Dawood Habib family group of companies, is one of the growing banks in Pakistan
. It was selected as one of the top 200 Best Under A Billion companies by Forbes Asia
in their annual review of 2005. The bank's head office is located in the city of Multan
in Punjab
, but its principal office is located in Karachi
. Presently, the bank has a network of 305 branches, 278 full branches and 25 sub branches in all the major cities of Pakistan. Habib Group were pioneers in introducing banking to Pakistan. Their involvement in banking services dates back to 1930s. They successfully launched HBL Pakistan, which was nationalized in 1971 and is still one of the largest banks in Pakistan; since 2002 it has been jointly owned by the government and with the Aga Khan Fund for Economic Development
. After the privatization scheme announced in 1991 by the Pakistani Government, Habib Group were the first to be granted permission to start a private bank, the Bank AL Habib Limited.
after the independence of Pakistan. Habib Bank Limited established itself in the Karachi in 1943 and became a symbol of pride and progress for the people of Pakistan. It was nationalized in 1974.
During October 1991, this company, Bank AL Habib was incorporated as a public limited company and began banking operations as a new private bank in 1992; it was granted membership to be part of the Clearing House. In 2005, Bank AL Habib began offering internet banking so accounts and records could be viewed online. In 2006, Bank AL Habib became partners with MasterCard
allowing them to issue credit cards for the first time.
VFGG
, USA; Banco Di Roma, Italy; Commerzbank
and Dresdner Bank
, Germany; The Royal Bank of Canada
, Canada; Hong Kong and Shanghai Banking Corporation Ltd.
, Hong Kong.
The bank follows the internet banking code NetBanking and security is entrusted by VeriSign
. This was launched with a contract made with TPS Pakistan
. The bank supports the MNET Switch as a result of MoU signed between MNET and 1-Link.
of any partner bank. Bank AL Habib is the third largest ATM service provider in Pakistan, having 188 ATMs while having the largest number of ATMs in the city Karachi
.
Bank AL Habib Limited in affiliation with the Arab Financial Services offers two types of Master Cards.
Ex-chairmen of the Bank AL Habib include:
The bank has a network of two hundred and sixty three branches.
The Bank AL Habib Limited, run by the Dawood Habib family group of companies, is one of the growing banks in Pakistan
Pakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...
. It was selected as one of the top 200 Best Under A Billion companies by Forbes Asia
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
in their annual review of 2005. The bank's head office is located in the city of Multan
Multan
Multan , is a city in the Punjab Province of Pakistan and capital of Multan District. It is located in the southern part of the province on the east bank of the Chenab River, more or less in the geographic centre of the country and about from Islamabad, from Lahore and from Karachi...
in Punjab
Punjab (Pakistan)
Punjab is the most populous province of Pakistan, with approximately 45% of the country's total population. Forming most of the Punjab region, the province is bordered by Kashmir to the north-east, the Indian states of Punjab and Rajasthan to the east, the Pakistani province of Sindh to the...
, but its principal office is located in Karachi
Karachi
Karachi is the largest city, main seaport and the main financial centre of Pakistan, as well as the capital of the province of Sindh. The city has an estimated population of 13 to 15 million, while the total metropolitan area has a population of over 18 million...
. Presently, the bank has a network of 305 branches, 278 full branches and 25 sub branches in all the major cities of Pakistan. Habib Group were pioneers in introducing banking to Pakistan. Their involvement in banking services dates back to 1930s. They successfully launched HBL Pakistan, which was nationalized in 1971 and is still one of the largest banks in Pakistan; since 2002 it has been jointly owned by the government and with the Aga Khan Fund for Economic Development
Aga Khan Fund for Economic Development
The Aga Khan Fund for Economic Development ' is the sole for-profit agency of the Aga Khan Development Network and works in partnership with international organizations and governments to stimulate the private sectors of developing economies, with the aim of generating capital for investment...
. After the privatization scheme announced in 1991 by the Pakistani Government, Habib Group were the first to be granted permission to start a private bank, the Bank AL Habib Limited.
History
The original Habib Bank began modestly in Bombay in 1941 when it commenced operations with a fixed capital of 25,000 rupees. Impressed by its initial performance, Qaid-e-Azam Mohammed Ali Jinnah asked the Habib Bank to move its operations to KarachiKarachi
Karachi is the largest city, main seaport and the main financial centre of Pakistan, as well as the capital of the province of Sindh. The city has an estimated population of 13 to 15 million, while the total metropolitan area has a population of over 18 million...
after the independence of Pakistan. Habib Bank Limited established itself in the Karachi in 1943 and became a symbol of pride and progress for the people of Pakistan. It was nationalized in 1974.
During October 1991, this company, Bank AL Habib was incorporated as a public limited company and began banking operations as a new private bank in 1992; it was granted membership to be part of the Clearing House. In 2005, Bank AL Habib began offering internet banking so accounts and records could be viewed online. In 2006, Bank AL Habib became partners with MasterCard
MasterCard
Mastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
allowing them to issue credit cards for the first time.
VFGG
International correspondence
Bank maintains correspondent relations with the following international banks: American Express BankAmerican Express
American Express Company or AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best...
, USA; Banco Di Roma, Italy; Commerzbank
Commerzbank
Commerzbank AG is the second-largest bank in Germany, after Deutsche Bank, headquartered in Frankfurt am Main.-Activities:Commerzbank is mainly active in commercial bank, retail banking and mortgaging. It suffered reversals in investment banking in early 2000s and scaled back its Securities unit...
and Dresdner Bank
Dresdner Bank
Dresdner Bank AG was one of Germany's largest banking corporations and was based in Frankfurt. It was acquired by competitor Commerzbank in December 2009.- 19th century :...
, Germany; The Royal Bank of Canada
Royal Bank of Canada
The Royal Bank of Canada or RBC Financial Group is the largest financial institution in Canada, as measured by deposits, revenues, and market capitalization. The bank serves seventeen million clients and has 80,100 employees worldwide. The company corporate headquarters are located in Toronto,...
, Canada; Hong Kong and Shanghai Banking Corporation Ltd.
Hongkong and Shanghai Banking Corporation
The Hongkong and Shanghai Banking Corporation Limited is a prominent bank established and based in Hong Kong since 1865 when Hong Kong was a colony of the British Empire. It is the founding member of the HSBC Group and since 1990 is now a wholly owned subsidiary of HSBC Holdings plc...
, Hong Kong.
The bank follows the internet banking code NetBanking and security is entrusted by VeriSign
VeriSign
Verisign, Inc. is an American company based in Dulles, Virginia that operates a diverse array of network infrastructure, including two of the Internet's thirteen root nameservers, the authoritative registry for the .com, .net, and .name generic top-level domains and the .cc and .tv country-code...
. This was launched with a contract made with TPS Pakistan
TPS Pakistan
TPS Pakistan is a Pakistan based technology firm established in 1996 by two entrepreneurs Mohammed Sohail and Mobushir Rahim. TPS is credited with the establishment of the ebanking infrastructure in Pakistan and is powering 80% of the banks in Pakistan and the largest inter bank shared switch -...
. The bank supports the MNET Switch as a result of MoU signed between MNET and 1-Link.
Services
Bank AL Habib is one of the eleven partners of 1-Link system, an inter-bank ATM sharing system which allows customers to transact on ATMAutomated teller machine
An automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...
of any partner bank. Bank AL Habib is the third largest ATM service provider in Pakistan, having 188 ATMs while having the largest number of ATMs in the city Karachi
Karachi
Karachi is the largest city, main seaport and the main financial centre of Pakistan, as well as the capital of the province of Sindh. The city has an estimated population of 13 to 15 million, while the total metropolitan area has a population of over 18 million...
.
Bank AL Habib Limited in affiliation with the Arab Financial Services offers two types of Master Cards.
AL Habib Capital Markets
Bank AL Habib has also established a name in the financial stock industry. AL Habib Capital Markets; one of the leading brokerage houses working under the logo of Bank AL Habib. BAHL holds a major stake in the AL Habib Capital Markets (Pvt) Ltd, rest by friends and family members.Executive leadership
- Ali Raza D. Habib, Chairman
- Abbas D. Habib, CEO & Managing Director
- Qumail R. Habib, Executive Director
Ex-chairmen of the Bank AL Habib include:
- Hamid D. Habib, Chairman (Till 2000)
- Rashid D. Habib, CEO & Managing Director (until 1994)
Branches
Pakistan
- KarachiKarachiKarachi is the largest city, main seaport and the main financial centre of Pakistan, as well as the capital of the province of Sindh. The city has an estimated population of 13 to 15 million, while the total metropolitan area has a population of over 18 million...
, has around 92 branches in all major/suburbs parts. This include one international branch at Export Processing Zone and one Islamic bankingIslamic bankingIslamic banking is banking or banking activity that is consistent with the principles of Islamic law and its practical application through the development of Islamic economics. Sharia prohibits the fixed or floating payment or acceptance of specific interest or fees for loans of money...
branch at Sharah-e-Faisal. - LahoreLahoreLahore is the capital of the Pakistani province of Punjab and the second largest city in the country. With a rich and fabulous history dating back to over a thousand years ago, Lahore is no doubt Pakistan's cultural capital. One of the most densely populated cities in the world, Lahore remains a...
, has around 31 branches in all major/suburbs parts including an Islamic Banking Branch. - MultanMultanMultan , is a city in the Punjab Province of Pakistan and capital of Multan District. It is located in the southern part of the province on the east bank of the Chenab River, more or less in the geographic centre of the country and about from Islamabad, from Lahore and from Karachi...
, has around 10 branches including an Islamic Banking Branch. - FaisalabadFaisalabadFaisalabad , formerly known as Lyallpur, is the third largest metropolis in Pakistan, the second largest in the province of Punjab after Lahore, and a major industrial center in the heart of Pakistan. Before the foundation of the city in 1880, the area was very thinly populated. The population has...
. has around 4 branches including an Islamic Banking Branch. - IslamabadIslamabadIslamabad is the capital of Pakistan and the tenth largest city in the country. Located within the Islamabad Capital Territory , the population of the city has grown from 100,000 in 1951 to 1.7 million in 2011...
, has around 4 branches. - Hyderabad, has around 4 branches.
- and 30 other cities of Pakistan
Advertising and sponsorship
Bank AL Habib has sponsored a number of important events.- "Role of Women in Nation Building" seminar held on 10–12 November 2005 at Bahauddin Zakriya University, MultanMultanMultan , is a city in the Punjab Province of Pakistan and capital of Multan District. It is located in the southern part of the province on the east bank of the Chenab River, more or less in the geographic centre of the country and about from Islamabad, from Lahore and from Karachi...
. - "Hamid D. Habib and Rashid D. Habib Memorial Golf Tournament" held annually at KarachiKarachiKarachi is the largest city, main seaport and the main financial centre of Pakistan, as well as the capital of the province of Sindh. The city has an estimated population of 13 to 15 million, while the total metropolitan area has a population of over 18 million...
Golf Club. - "International Central Bankers Training" event for banking personnel from various Asian, Arab and African countries.
- "Bank Al Habib Prize" for high marks in the Institute of Bankers Pakistan examinations.