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The Privatization Of HBL

Decent Essays

This symbol of HBL contains Bismillahat top,
Swordunder Bismillah
And then lion under sword
.This symbol depicts:
Bismillah …….. Islamic values and culture Sword……power Lion…….. Strength HBL ……..brand name
THE POWER TO LEAD …….logo

Privatization of HBL

On December 29, 2003 Pakistan's Privatization Commission announced that the Government of Pakistan had formally granted the Aga Khan Fund for Economic Development (AKFED) rights to 51% of shareholding in HBL, against an investment of PKR 22.409 billion (USD 389 million). On February 26, 2004, management control was handed over to AKFED. The Board of Directors was reconstituted to have four AKFED nominees, including the Chairman and President/CEO and three Government of Pakistan nominees. …show more content…

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