Bank AL Habib Asset Management is the financial arm of Bank AL Habib Limited, an AA+ rated bank, and is a member of the Dawood-Habib Group. It was established in 2005 and is licensed by the SECP to offer investment and asset management services. It has a PACRA rating of AM3+. Here are some of the products and services that AL Habib offers. These are: ATMs, Mutual funds, and Financial products.
Financial products
Bank AL Habib Limited is a banking institution in Pakistan. Its banking products are tailored to the needs of individuals and businesses, including savings accounts, current accounts, and credit cards. Its commercial banking division offers services ranging from wealth management and investment banking to corporate financial advisory and international trade related activities. Besides offering traditional banking services, Bank AL Habib offers retail brokerage activities. Its retail brokerage products include equity brokerage and foreign exchange trading, asset allocation and cash management, and corporate finance.
AL Habib provides two kinds of pension funds. AL Habib Pension Fund is an open-ended pension fund scheme that invests in long-term bonds, money market funds, and other liquid investments. It has a high level of liquidity, while its low risk profile makes it an excellent choice for post-retirement investment. It has a proven track record of producing superior returns. A large portion of the bank’s employees are involved in the asset management business, including its online banking and mobile app.
Investment solutions
Bank AL Habib Asset Management Limited is a financial firm based in Karachi, Pakistan. It has more than 500 branches and an overall assets value of $6 billion. Its overseas operations include operations in Malaysia, Hong Kong, and Seychelles. Bank AL Habib wanted to implement a comprehensive risk management solution and decided to work with Techlogix. The implementation included both Operational Risk and Market Risk modules. The second phase covered Asset and Liability Management and Liquidity Risk Management.
The bank provides retail banking, credit cards, and savings accounts. Its corporate banking division offers investment and wealth management services for both individuals and small businesses. The bank has a vast network of branches and three offshore banking units, including one in Turkey. In addition to this, it offers treasury and corporate financial advisory services. For more information about Bank AL Habib, please visit their website:
Mutual funds
If you’re looking for a safe place to put your money, the Bank Al Habib Asset Management offers several mutual funds. AL Habib Money Market Fund focuses on short-term, highly liquid investments with very little risk. AL Habib Pension Fund, on the other hand, is an open-ended pension fund scheme with potential to deliver superior returns. These mutual funds are available to individuals or institutions and have minimal minimums.
The bank has over 500 branches throughout Pakistan and over $6 billion in assets. In addition, the bank has overseas operations in Hong Kong, Malaysia, and Seychelles. Bank AL Habib Asset Management wanted to implement a comprehensive risk management solution, so they acquired Oracle Enterprise Risk Management and engaged Techlogix. The first phase of the project covered the Basel III requirements. It included market risk, operational risk, and liquidity risk.
ATMs
The ATMs at Bank AL Habib Asset Management are state-of-the-art. They are high-tech, have the lowest downtime, and ensure that customers can withdraw money 24 hours a day. The bank generates 5% of the profits of the entire banking industry in Pakistan and has one of the highest C.A ratios of 20 percent of deposits. Its services include internet banking, mobile banking, and bill payment.
The ATMs at Bank AL Habib are located across the country and are a convenient option for account holders to withdraw their funds. Customers can use the ATMs at Bank AL Habib for telebanking services and electronic funds transfers. The bank’s ATM network has over 1000 branches and three offshore banking units in Bahrain, Turkey, and the United Arab Emirates. ATMs are open seven days a week, and are located in almost every city in the country.
Company history
Bank AL Habib Asset Management is the financial arm of the AA+-rated Bank AL Habib Limited, a Dawood-Habib Group Company. Founded in 2005, the bank is licensed to provide asset management and investment advisory services. Its license has been granted by the Securities and Exchange Commission of Pakistan (SECP). The bank is rated AM3+ by PACRA, and is based in Karachi, Pakistan.
Bank AL Habib has a long history in the banking industry, dating back to the 1920s. The Bank AL Habib Group was founded by the Dawood Habib family, which played an important role in meeting the financial needs of Pakistan. In fact, it was one of the founding members of Habib Bank Limited, and its founder was Hamid D. Habib, who served as the bank’s chairman and director until the bank was nationalized on January 1, 1974.
Plans to acquire 100 percent stake in company
According to reports, Bank Al Habib has been granted permission to acquire a 70 percent stake in its subsidiary Habib Asset Management Limited in a deal worth Rs. 152 million. This acquisition will give the bank a majority stake in the company. The transaction has been approved by the State Bank of Pakistan and the Securities and Exchange Commission of Pakistan. Bank Al Habib has already acquired 30 percent of Habib Asset Management Limited. This deal is expected to create a new shareholder group in the company. The move will also inject additional equity up to Rs. 450 million into the company.
The proposed deal has been hailed by investors in the UAE’s financial services sector. While the potential acquirers may violate rules on market share, their efforts could prove beneficial for both the bank and the public. The proposed deal could also lead to a breach in competition rules imposed by the central bank. Moreover, the acquisition could violate rules regarding market share by local financial institutions.
