Bank Al Habib Limited is a Pakistani commercial bank based in Karachi. It is one of the largest banks in Pakistan with branches across the country.[2] It also operates wholesale branches in Bahrain and Malaysia and offices in UAE, Turkey (Istanbul), China (Beijing), and Kenya.
History
Habib Group's involvement in banking services dates back to the 1930s. 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, Muhammad Ali Jinnah asked the Habib Bank to move its operations to Karachi after the independence of Pakistan.
After the privatisation scheme was announced in 1991 by the Pakistani Government, Habib Group was the first to be granted permission to start a private bank, the Bank AL Habib Limited.
Under the privatisation policy of the Government of Pakistan, the Dawood Habib Group was granted permission to set up a commercial bank. Bank AL Habib was incorporated as a Public Limited Company in October 1991 and started banking operations in 1992. (Late) Hamid D. Habib, grandson of the founder a Habib Group, was the first Chairman of Bank AL Habib Limited.