Karachi, Pakistan- March 26, 2024, AL Habib Exchange Company (Private) Limited
officially commenced operations across ten branches in 4 cities of Pakistan
including Karachi, Lahore, Islamabad, and Peshawar.
Following Bank AL Habib’s announcement in September last year, the Board of
Directors unanimously approved the establishment of an Exchange Company as a
wholly-owned subsidiary, with an authorized capital of PKR 1 Billion.
With the issuance of licenses from the State Bank of Pakistan and the Certificate of
Incorporation from the Securities and Exchange Commission of Pakistan (SECP),
AL Habib Exchange received the green light to initiate its operations.
AL Habib Exchange is an initiative by Bank AL Habib in line with State Bank of
Pakistan’s structural reforms within the Exchange Companies sector and aims to
cater to the genuine foreign exchange needs of its customers.
The main branch of AL Habib Exchange was inaugurated by the Honorable
Governor State Bank of Pakistan Mr. Jameel Ahmed in the presence of Mr. Abbas
D Habib Founder Member and Chairman Bank AL Habib, Mr. Qumail R. Habib,
Executive Director, Bank AL Habib, Mr. Mansoor Ali Khan, Chief Executive, Bank
AL Habib, Syed Furqan Chief Executive Officer AL Habib Exchange and Senior
officials from SBP, Bank AL Habib and AL Habib Exchange.
This occasion marks the beginning of a new era in foreign exchange services, as AL
Habib Exchange endeavors to set new standards of excellence and reliability in
the industry.
