Chairman HBL Sultan Ali Allana becomes first Pakistani to win Nishan-e-Khidmat

March 24, 2025 (MLN): Sultan Ali Allana, a distinguished figure in Pakistan's banking sector, has made history as the first Pakistani to be awarded the prestigious Nishan-e-Khidmat.

President Asif Ali Zardari presented the award in recognition of Allana’s four decades of exceptional service to the nation.

The ceremony, held at the President House, highlighted Allana’s transformative contributions to Pakistan’s financial and social sectors.

A pioneer in microfinance banking, he founded the First Microfinance Bank in 2002, laying the foundation for financial inclusion across the country.

Former Governor of the State Bank of Pakistan, Salim Raza, praised Allana’s vision and dedication, as per the press release issued today.

“Sultan Ali Allana is one of those rare individuals whose priority is the welfare and growth of the national community. Profit, for him, is merely a means to further galvanize this objective,” Raza remarked.

Allana’s career began in 1985 when, as a young engineer returning to Pakistan, he joined Citi Bank amidst a challenging job market.

Over the years, he became a driving force behind transformative initiatives, including the introduction of the Microfinance Framework and the establishment of the First Microfinance Bank.

Munir Kamal, CEO of the Pakistan Bank Association and a close associate of Allana, reflected on his pivotal role during the privatization era.

“His swift actions brought $400 billion into Pakistan, a monumental achievement,” Kamal noted.

Former Commerce Minister Humayun Akhtar lauded Aallna as the “most deserving” recipient of the Nishan-e-Khidmat, emphasizing his contributions to banking, tourism, and education.

Akhtar added, “The Nishan-e-Khidmat is the highest honor, and Sultan Ali Allana’s achievements truly embody its significance.”

Renowned economist Dr. Ashfaq Hussain described the award as a testament to Aallna’s impact on banking, social development, education, and healthcare.

Former finance secretary Dr. Waqar Masood also commended Aallna’s role in addressing national-level financial challenges, particularly Pakistan’s removal from the FATF grey list.

Former Finance Minister Miftah Ismail echoed these sentiments, crediting Allana for his strategic understanding and dedication to social projects.

Khyber Pakhtunkhwa Governor Faisal Karim Kundi extended his congratulations, stating, “Sultan Ali Allana has always been at the forefront during Pakistan’s most challenging times, whether natural disasters, economic crises, or the sponsorship of sports.”

Alana’s legacy continues to inspire, with many in the banking industry affirming that his contributions have left an indelible mark on Pakistan’s progress.

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