Bank AL Habib Limited is the major sponsor of AHCML and holds two-thirds of its share capital. The remaining one-third is held by the family, friends and associates of Dawood Habib Group, a renowned group with a very long and well-known track record of banking. The Group was amongst the founder members of Habib Bank Limited (HBL) in 1941 in Bombay. HBL played a vital role in meeting the financial and banking needs of Pakistan and continued to record excellent growth and progress as the leading commercial bank in Pakistan when it was nationalized on December 31, 1973.
After nearly 18 years of nationalization, the Government of Pakistan decided, in 1991, to allow the private sector to establish commercial banks in the country. It was under this privatization policy that the Dawood Habib Group was the first to be granted permission by the Government of Pakistan to set up a commercial bank. It was in October 1991 that Bank AL Habib was incorporated and started full-fledged operations as a scheduled bank in January 1992. Currently, Bank AL Habib’s assets exceed Rs.279 billion, deposits exceed Rs.232 billion and branch network exceeds 300, including an wholesale branch in the Kingdom of Bahrain and a Representative Office in Dubai - and six Islamic Banking Branches.
In addition to Bank AL Habib, the Group also comprises other companies which include:
- Habib Insurance Limited
- Habib Sugar Mills Limited
- AL Habib Asset Management Limited