The eminent banker and philanthropist, Sultan Ali Allana, was honored by the prestigious Nishan-E-Khidmat, one of the highest civil prices in Pakistan, during a special inauguration ceremony held on Pakistan day.
The price was approved by President Asif Ali Zardari on August 14, 2024, during the celebrations of the 78th day of the country’s independence, recognizing the remarkable contributions of Allana in the field of public service.
Sultan Ali Allana was an engine of transformative initiatives in the financial and social sectors of Pakistan. Pioneer of the microfinance bank, he founded the first microfinance bank in 2002, laying the foundations for financial inclusion.
His 40 -year career testifies to innovation and progress, marked by his efforts in the repositioning of the financial system of Pakistan to comply with international standards, which played a central role in the elimination of the country’s list of Gray.
He also launched the first agricultural initiative in Pakistan under a commercial bank, supporting small farmers with sustainable executives who have strengthened rural savings.
In addition to his banking innovations, Allana has helped promote trade and trade in South Asia and the guarantee of international investments for Pakistan through commitments with global financial institutions, such as IMF, BII, IFC and Chinese financial entities.
Its philanthropic companies, including the creation of the HBL Foundation, have deepened access to education and health care for poorly served communities.
He joined the country’s banking sector in 1985 and his efforts focused on expanding and strengthening the overall development and well-being opportunities of the nation.
His recognition is a celebration of his visionary leadership and the lasting commitment to the prosperity of Pakistan.
“The most deserving”
Former Minister of Commerce, Humayun Akhtar, described Sultan Ali Alla Aliena the recipient of the “most deserving” of the Nishan-E-Khidmat, congratulating his central role in the transformation of the banking system of Pakistan, tourism and education.
Muneer Kamal, CEO of Pakistan Banks Association, underlined the main contributions of Allana, in particular his leadership during the privatization of HBL.
“At the time of privatization, he acted quickly. His efforts to bring back $ 400 million in Pakistan were a major achievement,” he added.
He said that Sultan Allana is an engineer and when he came to Pakistan after completing his studies in 1985, there was a lack of jobs in the country.
“He started working as a banker and never looked back,” added Kamal.
Dr. Waqar Masood, former finance secretary, recommended the role of Allana in the next generation of financial challenges at the national level, in particular the elimination of Pakistan from the list of Gray from the FATF.
Likewise, the former finance minister, Miftah Ismail, has also credited Allana for his efforts to guide Pakistan from FATF restrictions, recognizing his contributions to social projects.
The governor of Khyber Pakhtunkhwa, Faisal, Karim Kundi, congratulated Allana, declaring: “He has always been at the forefront whenever Pakistan faced with major challenges, whether natural disasters, economic crisis or sports sponsorship.”
The renowned economist, Dr. Ashfaq Hussain, described the price as a recognition of the important contributions of Allana to the bank, social development, education and health care.
The president of Pakistan Banking Association (PBA), Zafar Masud, said that the efforts of Sultan Ali Allana to attract international investments and modernize the banking system of Pakistan stabilized the country’s economy.
“His vision brought our financial system tied with global standards.”
The mayor of Karachi, Murtaza Wahab, said that he personally knew Sultan Ali Allana and considered him a great benefactor of this country and humanity.
Congratulations Alllana for having received the prestigious prize, the mayor praised the services of the famous banker.
Allana founded First Microfinance Bank in 2002 to increase financial inclusion and, according to her friends, the foresight of Allana and the ability to resolve economic challenges not only built systems but also shape the future.
While Pakistan pays tribute to its national heroes, the services of Sultan Ali Allana have become a symbol of progress and prosperity.
Its services in the financial and social sectors of Pakistan will benefit the generations to come.