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Sultan Ali Allana

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Sultan Ali Allana
سلطان علی الانہ
Allana in 2020
Born1959 (age 64–65)
Karachi, Pakistan
EducationSt. Patrick's High School, Karachi, D. J. Sindh Government Science College, McGill University, University of Wisconsin (MS)
OccupationBanker
OrganizationHabib Bank Limited
Board member ofHabib Bank Limited, Aga Khan Fund for Economic Development
AwardsSitara-i-Imtiaz & Hilal-i-Imtiaz

Sultan Ali Allana (Urdu: سلطان علی الانہ) is a Pakistani banker who is chairman of Habib Bank Limited and a director of the Aga Khan Fund for Economic Development. He is a recipient of Hilal-i-Imtiaz in 2006 and Sitara-i-Imtiaz in 2022 for his services to Pakistan.

Early life and education

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Sultan Ali Allana was born in Karachi into a Sindhi family , in 1959. He attended St. Patrick's High School, DJ Science College and then moved to Canada where he obtained an undergraduate degree in Mechanical Engineering and a postgraduate diploma in Management from the McGill University. He then attended the University of Wisconsin, USA, where he obtained an MS in Management Technology.

Personal life

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Allana comes from a prominent Sindhi family which traces its origins from Jhirk, Sindh. His late uncle Ghulam Ali Allana[1] was a friend and biographer of Mohammad Ali Jinnah, the founder of Pakistan. He entered politics at an early age and played an active part in the Pakistan movement. G. Allana has written several books notably: Quaid-e-Azam; The Story of a Nation,[2] Our Freedom Fighters,[3] Pakistan Movement - Historic Documents,[4] A Rosary of Islamic Readings[5] & His Highness Aga Khan III.[6]

Career

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He started his banking career from Citibank in 1985, In 1994 he founded Global Securities, a joint venture partner of UBS AG. In 1999 he acquired a management stake in NDLC and was appointed as CEO of the company. NDLC later merged with IFIC Bank to form NIB Bank in October 2003.

As part of a structural reform[7] process, he worked with the Government of Pakistan in 2000 which allowed for the creation of Micro Finance Banks in Pakistan. As a result of the enabling framework, the First Microfinance Bank was established in 2002 and Allana was appointed its first chairman (2002-2006).

In 2003 he volunteered for the Aga Khan Fund for Economic Development (AKFED) to oversee the Fund’s investments in banking, insurance and aviation,[8][9] and later joined the organization.

In 2004 he was appointed as the Chairman[10] of Habib Bank Limited after its privatization.[11][12]

As chairman HBL Allana had an integral role to play in Pakistan's compliance with respect to the implementation[13] of the action plans required to exit the FATF Grey List.[14] In this regard he was lauded and commended for his efforts[15] by financial experts and serving ministers. In 2022 he wrote an article in Caught in the dept trap[16] where he urged for critical restructuring of Pakistan's economic affairs so as not to let the country fall into the ever-looming debt trap. He also wrote in detail in an article about the implications of devaluation of Pakistan currency.[17]

Allana has been on several government committees as a professional and expert in the field of finance and economics which have included: Special Cell/Think Tank on COVID-19,[18] CPEC Business Council,[19] Economic Advisory Council[20] & the Advisory Council for the Ministry of Maritime Affairs.

Shabbar Zaidi took to Twitter to congratulate Allana and wrote:[21] "I congratulate Mr Sultan Allana of HBL and his team for excellent and tireless work with respect to FATF. On national issues we are united.[14] Pakistan Zindabad."

“While many contributed brilliantly towards our success in FATF, I must specially acknowledge HBL chairman Sultan Ali Allana, who hired and paid millions of dollars to top international consultants required to guide our Pakistan team in helping us get through FATF. Well done HBL Pakistan," the minister said.[15]

Awards

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He was awarded the Sitara-i-Imtiaz in 2006 for his "valuable services to Pakistan[22]", in the economic and financial sector, specifically with reference to the creation of the framework Micro Finance institutions in the country and for the establishment of the First Micro Finance Bank.

In 2023, he was conferred the Hilal-i-Imtiaz by the President of Pakistan.[23]

References

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  1. ^ "Ghulam Ali Allana, Huzur Varas". www.ismaili.net. Retrieved 2023-08-12.
  2. ^ G.ALLANA (1996-01-01). QUAID-E-AZAM JINNAH THE STORY OF A NATION BY G.ALLANA / FEROZSONS (pvt.) LTD. FEROZSONS.
  3. ^ Allana, G. (1985). Our freedom fighters (1562-1947) (3rd ed.). Lahore: Ferozsons. OL 14372606M.{{cite book}}: CS1 maint: date and year (link)
  4. ^ "Pakistan movement; historic documents, by G. Allana - Catalogue | National Library of Australia". catalogue.nla.gov.au. Retrieved 2023-08-12.
  5. ^ Allana, G. (1973). A rosary of Islamic readings, 7th to 20th century. Karachi: National Pub. House. OL 5037216M.
  6. ^ Allana, G. (1973). His Highness Aga Khan III: a brief survey of his life and work. Karachi: Hamdard National Foundation. OL 4873560M.
  7. ^ "Financial inclusion holds the key – An interview with Sultan Ali Allana, Chairman, HBL – Business Recorder". Retrieved 2023-08-12.
  8. ^ "AKDN interview with Sultan Allana". Aga Khan Development Network.
  9. ^ "PM, Aga Khan Fund director discuss economic situation, development projects". 2022-09-14. Retrieved 2023-08-12.
  10. ^ "127 awards conferred on Pakistan Day". DAWN.COM. 2006-03-24. Retrieved 2023-08-12.
  11. ^ Tribune, Express (2015-04-14). "The Habib Bank privatisation". The Express Tribune. Retrieved 2023-08-12.
  12. ^ Tribune, Express (2015-04-12). "Privatisation proceeds: Final approval granted to $1b HBL stock offering". The Express Tribune. Retrieved 2023-08-12.
  13. ^ Profit, Pakistan Today (2020-07-16). "HBL receives 'Asia Best Bank Transformation 2020' award from Euromoney". Profit by Pakistan Today. Retrieved 2023-08-12.
  14. ^ a b "Shabbar Zaidi congratulates HBL chief Allana on FATF feat". www.geo.tv. Retrieved 2023-08-12.
  15. ^ a b "FATF approval: Ali Zaidi highlights HBL chairman's contribution". www.thenews.com.pk. Retrieved 2023-08-12.
  16. ^ Allana, Sultan Ali (2022-07-23). "Caught in the debt trap". DAWN.COM. Retrieved 2023-08-12.
  17. ^ "کرنسی کی قدر میں کمی کا معمہ". jang.com.pk. Retrieved 2023-08-12.
  18. ^ Govt of Pakistan, Finance Division (2020-04-14). "Special Think Tank for COVID-19 Pandemic" (PDF). Finance Division, Government of Pakistan.
  19. ^ "CPEC Business Council | Board Of Investment". invest.gov.pk. Retrieved 2023-08-12.
  20. ^ Magazine, Pro Pakistani (Apr 3, 2021). "PM Approves Reconstitution of Economic Advisory Council". Pro Pakistani.
  21. ^ "Shabbar Zaidi Tweets". Twitter. Retrieved 2023-08-12.
  22. ^ "127 awards conferred on Pakistan Day". DAWN.COM. 2006-03-24. Retrieved 2023-08-12.
  23. ^ "Ismailis receive awards on Pakistan Day". the.Ismaili. 2023-03-24. Retrieved 2023-08-12.
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