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| EconomyOfPakistan » Banking Sector in Pakistan » Nationalized Scheduled Banks |
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Nationalized Scheduled Banks |
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Pakistan is one of the emerging markets of South Asia. A rapidly developing nation, the country has slowly emerged out of its poverty stages after independence in 1947. Pakistan’s economic growth rate in the last few years has considerably fluctuated owing to imprudent policies and crucial challenges on the political and economic fronts. The introduction of expansive economic reforms in the recent years has however resulted in accelerated growth in several sectors, including the banking sector. While the highly regulated banking sector of Pakistan is presided over by the Central Bank of Pakistan, The State Bank of Pakistan (SBP), it also consists of several Commercial Banks and Specialized Banking Institutions. Nationalized Scheduled Banks of Pakistan form one such institution of the banking sector in Pakistan which significantly caters to the development of a stronger economic outlook of the country’s economy.
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The First Women Bank Limited (FWB) is amongst the major Nationalized Scheduled Banks in Pakistan. The headquarters are located in Karachi, the financial capital of Pakistan. The First Women Bank Limited was incorporated as a Scheduled Commercial Bank in the Public Sector. It then donned the position of a Public Company Ltd by shares under the Companies Ordinance 1984. It commenced its business with a paid up capital of Rs.100 million, while 90% of which was contributed by five leading public sector banks of the country and 10% from Federal Government. The First Women Bank Limited is presided over by Zarine Aziz, and was aimed primarily to be a financially sustainable bank, specially focusing on promoting economic prosperity and self-reliance in women of urban and rural areas. This Nationalized Scheduled Banks is has a vast network of branches located in all major cities of Pakistan.
Nationalized Scheduled Banks in Pakistan today deal primarily in industries of Banking and Capital Markets. They offer a host of unique policies, banking training, services and products, some which include Loans, Credit Cards, Savings, and Consumer Banking etc. These Nationalized Scheduled Banks follow a vision of being dynamic, adaptive and responsive to special economic needs as well as offer the best financial services along with the best banking practices.
For further information on other categories relating to Pakistan’s Economy keep browsing through the links at www.economyofpakistan.com
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