Dawood Habib Group
Bank AL Habib Limited is a group company of Dawood Habib Group that has a long track record of banking. The group was amongst the sponsors and founder members of Habib Bank Limited, which was established in Bombay in 1941. Upon creation of Pakistan, the bank shifted its Head Office to Karachi and played a vital role in meeting the banking and financial needs of the country. Habib Bank was the leading private sector bank in Pakistan, with a large network of branches in the country as well as abroad, when it was nationalized by the Government of Pakistan along with all other private Pakistani banks on January 1, 1974.
In 1991, the Government of Pakistan decided to allow the private sector to establish commercial banks in the country. It was under this privatization policy that Dawood Habib Group was granted permission by the Government to set up a new commercial bank in Pakistan. Accordingly, Bank AL Habib Limited was incorporated in October 1991 and commenced operations in January 1992. Although Bank AL Habib started functioning in 1992, it embodies the same high standards of integrity, prudence, and trust which has been the hallmark of the Habib’s banking tradition for over 70 years.