House of Habib explained

House of Habib
Type:Private
Foundation:1841
Founder:Habib Esmail[1]
Location:Karachi, Pakistan
Num Employees:12,000 [2]
Revenue: [3]
Assets: [4]

The House of Habib is a Pakistani conglomerate company based in Karachi, Pakistan. The group was originally founded by Habib Esmail in Bombay (British India) in 1841.

It holds a significant position as a prominent Shia Muslim business family in Pakistan.[5] [6]

History

The roots of the company trace back to the 19th century when it commenced as Khoja Mithabhai Nathoo in 1841 in Bombay, operating as a family business. In 1891, a family member named Habib Esmail played a pivotal role in the company's expansion. Subsequently, the company evolved into a major trading firm. In 1921, his four sons joined the business, and Habib & Sons was established, which eventually transformed into today's HBL Pakistan or Habib Bank Limited.[7]

The House of Habib occupies a significant place in Pakistan's early history. Habib Bank was relocated to Pakistan at the personal request of its first Governor General Mohammad Ali Jinnah. Mohammad Ali Habib extended assistance to the fledgling state "even before the Government of Pakistan was ready to issue appropriate government paper". He provided a Rs. 80 million loan when the Reserve Bank of India failed to release Pakistan's share of Rs. 900 million. It's reported that Mohammad Ali Habib presented a blank cheque from Lloyds Bank to Governor General Jinnah, who then filled in Rs. 80 million.[8] [9]

As early as 1912, the Habib family established offices in Vienna and Geneva. In 1921, Habib and Sons was incorporated, specializing in brass, metal scraps, and gold, bearing the embossed Lion of Ali and Zulfiqar. This emblem remained the insignia of Habib Bank for a significant duration of its history.[10] The Rafiq Habib family oversees the House of Habib, distinct from the Dawood Habib family, which operates the Dawood Habib Group of Companies.

Sons of Habib Esmail

Sons of Mahomed Ali Habib

Companies

The conglomerate encompasses the following companies:

Listed

Unlisted

Educational institutes

See also

External links

Notes and References

  1. Web site: About us - House of Habib. www.hoh.net.
  2. Web site: Thal Limited - Overview. www.thallimited.com. 1 January 2018. https://web.archive.org/web/20171225144805/http://www.thallimited.com/about/overview.html. 25 December 2017. dead.
  3. Web site: House of Habib.
  4. Web site: House of Habib.
  5. https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=114388975 Company Overview of House of Habib (Private) Limited on Bloomberg.com website
  6. Economic Review, November 1984 (P 59) p 14
  7. http://www.pakistanbanks.org/members/listofmember.html Habib Bank Limited and Habib Metropolitan Bank Limited listed as members on Pakistan Banks' Association website
  8. https://epaper.dawn.com/print-textview.php?StoryImage=23_03_2018_715_001 A glance at the past (Habib Bank Limited history)
  9. https://epaper.dawn.com/DetailImage.php?StoryImage=23_03_2018_712_001 Habib Bank, Golden Jubilee Presentation on Dawn (newspaper)
  10. Web site: Business-Net (bnet) . AuVitronic Limited . 15 October 2010 . Economic review.
  11. Web site: History. 2021-01-22. House of Habib. en-US.
  12. Web site: 2020-05-03. Ali Suleman Habib – a man who knew when to step back, and step up. 2021-01-22. Profit by Pakistan Today. en-US.
  13. Web site: Auto Parts .
  14. Web site: Energy .