Habib Bank Limited: Difference between revisions
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== Mission == |
== Mission == |
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To be recognized as the leading financial institution of Pakistan and a dynamic international bank in the emerging markets, providing our customers with a premium set of innovative products and services, and granting superior value to our stakeholders – shareholders, customers and employees. |
To be recognized as the leading financial institution of Pakistan and a dynamic international bank in the emerging markets, providing our customers with a premium set of innovative products and services, and granting superior value to our stakeholders – shareholders, customers and employees.HBL ipo was a successful by privatization commission its trading will start from 24 sep2007 |
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== Functions == |
== Functions == |
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Revision as of 16:00, 23 September 2007
| File:Habib bank logo.JPG | |
| Company type | Public |
|---|---|
| Industry | Banking Capital Markets Global Markets |
| Founded | Bombay (now Mumbai (1941) |
| Headquarters | Habib Bank Plaza Karachi, Pakistan  |
| Products | Loans, Credit Cards, Savings, Consumer Banking etc. |
| Revenue |  PKR |
| Website | www.habibbankltd.com |
Habib Bank Limited (commonly referred to as "HBL") (Template:Lang-ar) is the largest bank in Pakistan and a thoroughly established banking chain throughout the world. An extensive network of 1425 branches in Pakistan and 55 international branches makes it one of the largest banks in Pakistan today. Habib Bank Plaza located in Karachi, Sindh is the formal headquarters of the bank. The bank has a network outside Pakistan including USA, UK, Middle East, Asia Pacific and Africa.
History
It has come a long way from its modest beginnings in Mumbai (Bombay) during 1941 when it commenced operations with a fixed capital of 25,000 rupees. Impressed by its initial performance, Mohammed Ali Jinnah (the founder of Pakistan) asked the Habib Bank to move its operations to Karachi 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.
In 2006, Habib Bank sold the operations that it had established in Fiji in 1991 to Bank of South Pacific.
Mission
To be recognized as the leading financial institution of Pakistan and a dynamic international bank in the emerging markets, providing our customers with a premium set of innovative products and services, and granting superior value to our stakeholders – shareholders, customers and employees.HBL ipo was a successful by privatization commission its trading will start from 24 sep2007
Functions
Services
Habib Bank offers the following services to its customers;
- Commercial Banking
- Corporate Banking
- Investment Banking
- International Group Banking
- Retail Banking
- Treasury
- Islamic Banking (referred to Modaraba)
Internet Banking
Habib Bank refers to its Internet banking to "hblEbank". The service was first set up as the internet was becoming a very popular place to check bank accounts and do payments and transfers. hblEbank offer the following services;
- Statement of Account(s)
- Single Account Balances
- Group Accounts Balances
- Account to Account Transfers
- Payment to Third Party by requesting the following:
Branches
Pakistan
With the largest number of branches in Pakistan, the main branches are mostly located in the largest commercial cities of Pakistan including; Karachi, Hyderabad, Lahore, Islamabad, Faisalabad,Mirpur Khas, Multan, Rawalpindi, Quetta, Sialkot, Peshawar, Kharian,Jhang,Mirpur Mathelo,Chishtian, and many others.
Overseas
- USA - New York
- UK - London, Manchester, Birmingham, Glasgow, UK
- Canada - Toronto
- Belgium - Brussels
- France - Paris
- Lebanon - Beirut
- Netherlands - Rotterdam
- Turkey - Istanbul
- Africa - Kenya, Mauritius, Seychelles, Nigeria.
- Middle East - Afganistan, Bahrain, Oman, UAE, Iran
- Asia Pacific - Australia, Bangladesh, Sri Lanka, Singapore, Hong Kong, Maldives, China, Nepal.
Ownership
Habib Bank Ltd operated under state ownership between 1974-2004. After privatization in 2004, 51 percent of the Bank’s shares were purchased by the Aga Khan Fund for Economic Development, an agency of the Aga Khan Development Network. The Government of Pakistan is expected to gradually divest its remaining shares in the Bank.[1]
Board of Directors
| Name | Position | Department |
|---|---|---|
| R. Zakir Mahmood | President & Chief Executive officer | |
| Abid Sattar | SEVP & Group Executive | Retail & Consumer Banking |
| Hasan Raza | SEVP & Group Executive | Financial Control & Corporate Planning |
| Jamil A Khan | SEVP & Group Executive | Global Operations |
| Jamil Iqbal | SEVP & Group Executive | Misys & BPR |
| Kashif Shah | EVP & Group Executive | Investment Banking |
| M Aslam Gadit | EVP & Group Executive (Oftg) | Asset Remedial Management |
| Mirza Saleem Baig | EVP & Head | Commercial Banking |
| Mudassir H Khan | SEVP & Group Executive | Global Compliance |
| Nauman K Dar | EVP & Group Executive | International Banking |
| Salim Amlani | SEVP & Group Executive | Audit, BRR & Investigation |
| Shahid M Loan | SEVP & Group Executive | Global Treasury |
| Sima Kamil | SEVP & Group Executive | Corporate Banking |
| Sohail Malik | SEVP & Group Executive | Credit Policy |
| Yousuf Nasir | EVP & Group Executive | Information Technology |
| Zafar Aziz Osmani | SEVP & Group Executive | HR & Organization Development |
Controversy
 | This section needs additional citations for verification. (July 2007) |
On July 18, 2007, Mariane Pearl, the widow of Wall Street Journal reporter Daniel Pearl, filed a lawsuit against Habib Bank Ltd over the 2002 abduction, torture and murder of her husband. The pending lawsuit alleges the bank and its subsidiaries knowingly conducted financial transactions and provided account services on behalf of Al Akhtar Trust, a Pakistani based charity trust. Al Akhtar Trust’s accounts have been used to provide financial support to terrorists.[2] However, HBL claims to have froze Al Akhtar Trust’s accounts several years before Daniel Pearl’s abduction.[3]
Habib Bank Limited was also challenged by the U.S. Federal Reserve Board and the New York State Banking Department for failing to address deficiencies in its compliance with U.S. anti-money laundering laws. After the U.S. Federal Reserve Board threatened formal charges against HBL, though none were filed, Habib Bank Limited agreed to strengthen the banks compliance to the laws.[4] More specifically, HBL was ordered to strengthen its transaction monitoring systems and the filing of "suspicious activity reports" on transactions that do not fit the routine business patterns of the bank's customer base.
It was also denied entry into the Indian market for fears that it might allow militants easier access to jihadi funds from Pakistan.[citation needed]
See also
External links
References
- ^ "Summary of Project Information, Habib Bank Ltd - International Finance Corporation". Retrieved 2006-12-01.
- ^ "U.S. Designates Al Akhtar Trust". Retrieved 2007-07-22.
- ^ ""HBL froze banned charities' accounts before Daniel Pearl's abduction"". Retrieved 2007-07-22.
- ^ ""Pakistani bank agrees to U.S. money-launder order"". Retrieved 2007-07-22.