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November 30, 2017
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‘Banking in our family began from tradition of trust, integrity’

World

November 30, 2017

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DUBAI: Habib Bank AG Zurich celebrated its 50th anniversary just beneath world’s tallest building Burj Khalifa in Dubai.
The evening started with the national anthem of the United Arab Emirates. The multinational commercial bank commemorated its golden jubilee with full of colourful dances and entertainment evening where more than 1,000 guests of the bank were present.
In the opening speech, President of Habib Bank AG Zurich Muhammad H. Habib recalled the time of the bank’s foundation and the challenges faced by him and his family specially after the nationalisation process in Pakistan during the government of Zulfikar Ali Bhutto. "The origins of banking in our family began from a tradition of trust and integrity," he recalled the memories. "Our great grandfather, who was a metal trader in the 1920s in Mumbai, became a custodian of people's money because of his reputation of being honest and trustworthy. His sons, our grandfathers, formalised the banking business by forming Habib Bank Limited in 1941 in British India. After the partition in 1947, Habib Bank moved its head office to Karachi in Pakistan, where it played a pivotal role in supporting the new nation's people in all their financing and banking needs."
The story of Habib Bank AG Zurich started in Switzerland in 1967 while it began its operations in United Arab Emirates in 1974. While talking to The News, President of Habib Bank AG Zurich Muhammad H. Habib said that the completion of 50 years of the bank was definitely a proud moment for him, employees and clients of the bank.
The animated documentary with music and dance was also shown at the event. Speaking with The News, CEO and Country Head Jamaluddin Alvi said that the bank had got success and progressed with its loyal employees and confidant clients of the bank.
He revealed that the bank ranked as the '4th Most Sound Bank' in Switzerland and as the '204th Soundest Bank' in the world. He further added that it was the

clients’ confidence which brought success to the bank. At the end of the evening, the founding employees of Habib Bank AG Zurich were awarded and appreciated.

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