Banking in Pakistan first formally started in Pakistan during the period of British

colonialisation in the South Asia. After independence from British Raj in 1947, and the
emergence of Pakistan as a country in the globe, the scope of banking in Pakistan has
been increasing and expanding continuously. Pakistan’s oldest bank is the State Bank of
Pakistan, which is also the central bank of the nation. Before independence on August
14, 1947, the Reserve Bank of India was the central bank of what is now Pakistan.
After independence, Muhammad Ali Jinnah took actions to establish a central bank in
Pakistan which resulted in the new founding of the State bank of Pakistan, with its
headquarters to be based in Karachi.
The following is the list of banks in Pakistan.
• Central bank
a) State Bank of Pakistan

• Nationalized scheduled banks

a) First Women Bank Limited
b) National Bank of Pakistan
c) The Bank of Punjab
d) The Bank Of Khyber

• Specialized bank
a) Industrial Development Bank
b) Zarai Taraqiati Bank Limited
c) Punjab Provincial Cooperative Bank
d) SME Bank

• Development financial institute

a) Pak China Investment Company Limited, Islamabad
b) Pak Kuwait Investment Company Limited, Karachi
c) Pak Libya Holding Company Limited, Karachi
d) Pak Iran Joint Investment Company Limited, Karachi
e) Pak-Oman Investment Company Limited, Karachi
f) Saudi Pak Industrial and Agricultural Investment Company Limited,
Islamabad
g) House Building Finance Corporation, Karachi
h) Investment Corporation of Pakistan, Karachi
 i) Pak Brunei Investment Company Limited, Karach

• Investment bank
a) AKD Securities Limited
b) Invest Capital Investment Bank Limited
c) IGI Investment Bank Limited
d) AMZ Securities
e) Orix Leasing (Pakistan) Limited
f) Trust Investment Bank Limited
g) Arif Habib Investment and Mutual Funds Co.

• Discounting and guarantee houses

a) First Credit & Discount Corp Limited
b) National Discounting Services Limited
c) Speedway Fordmetall (Pakistan) Limited

• Housing finance company

a) Asian Housing Finance Limited
b) Citibank Housing Finance Company Limited
c) House Building Finance Corporation
d) International Housing Finance Limited

• Micro finance bank

a) NRSP Micro Finance Bank Limited
b) The First Micro Finance Bank Limited
c) Khushali Bank Limited
d) Karakuram Bank
e) Network Micro Finance Bank
f) Pak Oman Micro Finance Bank
g) Rozgar Micro Finance Bank, Karachi
h) Tameer Microfinance Bank Limited
i) Kashf Microfinance Bank Limited

• Islamic bank
a) AlBaraka Islamic Bank
b) BankIslami Pakistan Limited
c) Dubai Islamic Bank Pakistan limited
d) Dawood Islamic Bank Limited
e) Emirates Global Islamic Bank Limited
f) Meezan Bank Limited-Premier Islamic Bank In Pakistan
g) Jamil islami bank

• upcoming or transaction in process

 a) Al Baraka Islamic Bank, Dubai will acquire Emirates Global Islamic
Bank, Pakistan
b) Qatar Islamic Bank is looking to expand its operation in Pakistan in the
cities of Karachi, Lahore and Islamabad.
c) Faysal Bank has signed sale agreement with The Royal Bank of Scotland -
Pakistan.The Royal Bank of Scotland - Pakis

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The State Bank of Pakistan inherited the supervisory and financial policy powers of the State
Bank of India. In the period of 60s to 70s the emergence of a number of specialized
development finance institutions such as Industrial Development Bank of Pakistan (IDBP)
and the Agricultural Development Bank (ADB). In 1974 all banks were nationalized by the
Government. The Pakistan Banking Council was established assuming the role of a banking
holding company which was dissolved in 1997, leaving the SBP as the singular regulatory
authority for banks and financial institutions in Pakistan. Pakistan’s financial sector contain
Scheduled Commercial Banks which include nationalized, foreign, and private banks; and
Non-banking Financial Institutions which include Development Finance Institutions
(DFIs), Investment Banks, leasing companies, modarabas, and housing finance companies.
Commercial banks operating in Pakistan can be divided into four categories: 1) Nationalized
Commercial Banks, 2) Privatized Banks, 3) Private Banks and 4) Foreign Banks.

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