President Asif Ali Zardari has conferred Nishan-e-Khidmat to Mr. Sultan Ali Allana, Chairman HBL in recognition of his outstanding public service at a prestigious awards ceremony held at Aiwan-e-Saddar on Pakistan Day, 23rd March 2025. The Nishan-e-Khidmat is one of the highest civilian awards and honors and Sultan Ali Allana is the first Pakistani national to be conferred this award.
TRANSFORMATIVE LEADER:
Sultan Ali Allana, a transformative leader in Pakistan’s financial sector and the Chairman of the Board of Directors of Habib Bank Limited (HBL), has dedicated decades to driving economic development and advancing public service. His influential roles in major financial institutions and active involvement in key government initiatives have significantly shaped Pakistan’s economic landscape and promoted financial inclusion.
RICH LEGACY OF PUBLIC SERVICE:
Born in Karachi in 1959 to a distinguished Sindhi family, Allana carries a rich legacy of public service. His late uncle, Ghulam Ali Allana, was a close associate and biographer of Quaid-e-Azam Mohammad Ali Jinnah and played a pivotal role in the Pakistan Movement. This heritage, combined with Allana’s professional achievements, underscores his exceptional contributions to both business and public service.
FOUNDER OF MICRO FINANCE BANKING IN PAKISTAN:
Allana began his banking career in 1985 with Citibank, gaining expertise in financial services and international banking. In 1994, he co-founded Global Securities with UBS AG, advancing Pakistan’s capital markets. In 1999, he became CEO of National Development Leasing Corporation (NDLC), driving its expansion. His commitment to financial inclusivity was evident in 2000 when he helped establish Micro Finance Banks, providing crucial financial services to underserved communities and promoting poverty alleviation.
From 2002 to 2006, Allana served as the inaugural chairman of the First Microfinance Bank (FMFB), where he was instrumental in offering vital financial solutions to low-income communities and small businesses. His role in the 2003 merger of NDLC with IFIC Bank (IFIC), forming NIB Bank (NIB), further enhanced banking services across Pakistan, marking a significant milestone in his commitment to economic progress.
ADVCAETE OF SUSTAINABLE DEVELOPMENT:
In 2004, Allana took on the role of Chairman of Habib Bank Limited (HBL) following its privatization. He has spearheaded the bank’s digital evolution and the launch of HBL Konnect, enhancing financial inclusion for millions. His leadership in AKFED has driven significant economic growth and community development, impacting various regions including Pakistan. By focusing on sustainable development Allana has supported initiatives that enhance education, healthcare, and livelihoods, contributing to broader economic progress and improved quality of life.
PLAYED KEY ROLE IN REMOVAL FROM FATF GREY LIST:
Allana has been instrumental in addressing the FATF Grey List challenge through his comprehensive strategies for Pakistan’s financial sector. His strategic leadership aligned the country’s financial system with global standards, strengthening the financial regulatory framework. This crucial guidance significantly improved Pakistan’s international financial standing and fostered broader economic stability.
THOUGHT LEADER:
Allana’s influence extends beyond financial institutions. In 2022, he authored impactful articles on economic restructuring and currency devaluation, offering strategies to address Pakistan’s debt crisis. His insights have been sought by the government in various high-level committees, including the CPEC Business Council (CPEC-BC), the Economic Advisory Council (EAC), and advisory groups during the COVID-19 pandemic.
KEY ROLE IN ROSHAN DIGITAL ACCOUNT:
Sultan Ali Allana paved new ways to promote international investment in Pakistan. Under the Economic Advisory Council, he played a central role in the creation of the Roshan Digital Account. In addition, he established Pakistani banking in China, and in 2018, HBL Pakistan obtained the status of a member bank in the SCO-Interbank Association.
PROMOTING AGRICULTURE AND SOCIAL WORK
He is committed to the protection of natural resources and the environment for the people of Pakistan and future generations. Under this commitment, he has taken effective steps for the development of the agricultural sector. HBL has established a special arm, HBL Zarai Services, to provide financial and advisory services to farmers. His deep concern about climate change was evident in the relief efforts by his subordinate institutions after the devastating floods of 2022.Â
Previously honored with the Sitara-i-Imtiaz in 2006 and the Hilal-i-Imtiaz in 2023, Allana’s pioneering work in microfinance has uplifted countless families from poverty.
The Nishan-e-Khidmat recognizes his unwavering commitment to public service and economic development, highlighting his lasting impact on Pakistan’s progress and his role in shaping a more inclusive and resilient financial future for the nation.
