CHAPTER # 01
The National Bank of Pakistan is a Commercial Bank and transacts all types of Banking Business. The National Bank of Pakistan was established on November 29, 1949 as a semi public commercial bank.
The Bank has the distinction of acting agent of the State Bank of Pakistan and operates treasuries where the State Bank of Pakistan does not have any office.
The Head Office of the Bank is at Karachi. Ever since its establishment in 1949 it has been leading Commercial Bank of the nation, sole agent of the Government of Pakistan’s batter trade with countries and of State Bank of Pakistan for the Government Treasury.
It has offices at all the major financial centers of the including at pride places likes 100 wall streets, New York and United nations Plaza. Its International net-work includes Branches at Bahrain, Cairo, Paris, Frankfurt, Hong Kong, London, Washington D. C of shore banking unit at export processing zone. Karachi and representative offices functioning at Beijing and Seoul.
In Pakistan, the bank provides complete bank facilities to the people at over 1436 Branches operating even at the far lug Northern Areas. National Bank of Pakistan is the first bank in the country to introduce and implement supervised Ruler Credit Programmed help small farmer to obtain loans at his doorsteps on easy terms and conditions. It has also played a pioneering role in introduction of profit and loss sharing System (PLS) as a major towards Islamization of economy.
In addition to the normal business operations the bank provides special loan facilities for higher education for studies abroad and Qarz-e-Hasna to deserving poor students of Medical and Engineering Colleges in Pakistan. The well equipped research department to work on the cdeveloping tredns of finance and banking, besides a very well managed library at the Head Office.
The banks carry on its business through a wide network of branches locally and internationally. These branches execute their function under the supervision of local Regional Offices and regional offices are supervised by the Head Office located a magnificent building in the heart of Karachi’s center.
In the forty five years that have followed the bank has made remarkable progress testifying to several things.
It is now extending the operations of the Bank to all branches to Banking, to commerce, to industry to trustee services as well as to agriculture and to the need of the small or big businessman.
It has rapidly advanced from an institution with restricted power to the biggest commercial banks in the country it also shows it soundness of the policies that the bank has pursued in the execution its tasks.
The National Bank has lead the trial in this respect, other banks have followed it. The National Bank has great contribution towards building wide Banking structure in Pakistan and serving all aspects of the National life and all classes of society. Source: http://www.nbp.com.pak
HISTORY AND MANAGEMENT OF N.B.P
The story of National Bank of Pakistan is part of Pakistan’s struggle for economic independence.
When, National Bank of Pakistan came into existence in November 1949, the country was facing a severe economic crisis originally, the intention was to set up this Bank some time in early 1950, but the critical situation that developed in the jute trade as a result of India’s refusal to accept the exchange rate of the Pakistan Rupee, following the devaluation of its own and the sterling functioning Dacca and opend its offices at five important jute centers namely Narayanganj, Chandpur, Rangpur and Khulna, in the East Pakistan.
The Bank advamced large sums of money to the agents of the newly established Jute Board and gave much needed help to the market. The crisis was averted, the jute growers received a fair price for the produce and the country earned the foreign exchange it would have otherwise lost.
Again, in 1950 following...
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