For other banks with similar names, see Habib Bank (disambiguation).
Bank Al Habib Limited ( is a Pakistani commercial bank owned by the Dawood Habib family and is based in Karachi, Pakistan. It is the sixth-largest bank in Pakistan.Bank Al Habib has a branch network of more than 953 plus branches.
Bank Al Habib has wholesale branches in Bahrain, Seychelles and Malaysia and offices in UAE, Istanbul, Beijing, and Kenya. As of August 2020, the assets of the bank grew up to Rs. 1.36 Trillion.
Bank Al Habib has decided to purchase from TPL Properties, Centrepoint, a high-rise building in Karachi.
History
Habib Group's involvement in banking services dates back to 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 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.
In 2002, HBL has been jointly owned by the government and the Aga Khan Fund for Economic Development. It was nationalized in 1974.
Under the privatization policy of 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. He was a Director in Habib Bank Limited from 1954 and its Chairman from 1971 until nationalization. After the death of Hamid D. Habib in May 2000, Ali Raza D. Habib, who was Director on the Board, was appointed the Chairman of the Bank.
Rashid D. Habib, who was the Managing Director of Habib Bank Limited from 1953 till its nationalization, was appointed as the Managing Director & Chief Executive of Bank AL Habib Limited until he died in 1994. After his death, Abbas D. Habib who was the Joint Managing Director and closely associated with the bank since its inception 1991, was appointed as the Managing Director and Chief Executive of the Bank. In 2016, he was appointed as Chairman.[citation needed]
In 2005, Bank AL Habib began offering internet banking, with accounts and records visible online. In 2006, Bank AL Habib became partners with MasterCard, allowing them to issue credit cards for the first time.
Services
The bank maintains correspondent relations with American Express Bank, USA; Banco di Roma, Italy; Commerzbank and Dresdner Bank, Germany; The Royal Bank of Canada, Canada; and The Hongkong and Shanghai Banking Corporation, 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.
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 ATM of any partner bank. Bank AL Habib is the third largest ATM service provider in Pakistan,[citation needed] having 196 ATMs while having the largest number of ATMs in the city of Karachi.
In affiliation with the Arab Financial Services, the bank offers two types of MasterCard.
The bank has a major ownership stake in AL Habib Capital Markets (Pvt) Ltd, a brokerage house working under the logo of Bank AL Habib.
Executive leadership
Abbas D. Habib, Chairman
- Mansoor Ali Khan, CEO
- Qumail R. Habib, Executive Director 2018
Former Chairmen and Chief Executives of Bank AL Habib Limited include: Hamid D. Habib, Chairman (till 2000), Rashid D. Habib, CEO & Managing Director (till 1994) and Ali Reza D. Habib, Chairman (till 2016). Bilawal Bukhari King
Branches
The bank has a network of 820 branches (inclusive of Islamic, Conventional & Sub-branches) and three offshore banking units in Bahrain, Turkey and EPZ.
