Company Description DAWOOD HABIB GROUP, which is the sponsor of Bank AL Habib Limited, have a very long track record of banking which dates back to 1920s. They were among the founder members of Habib Bank Limited which played a major role in meeting the financial and banking needs of Pakistan, and which was nationalized along with other Banks in Pakistan on December 31, 1973.
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 of Habib Group, was the Chairman of Bank AL Habib Limited. He was the Director in Habib Bank Limited form 1954 and it's Chairman from 1971 until nationalization. After the death of Mr. Hamid D. Habib in May 2000, Mr. Ali Raza D. Habib, who was Director on the Board, was appointed the Chairman of the Bank.
(Late) Rashid D. Habib, who was the Managing Director of Habib Bank Limited in 1953 till it's nationalization, was appointed as the Managing Director & Chief Executive of Bank AL Habib Limited which post he held till he expired in 1994. After his death, Mr. Abbas D. Habib who was the Joint Managing Director and closely associated with the bank since it's inception 1991 was appointed as the Managing Director & Chief Executive of the Bank.