Sultan Ali Allana

Sultan Ali Allana was born in Karachi, in 1959. He attended St. Patrick's High School, DJ Science College and then moved to Canada where he obtained an undergraduate degree in Mechanical Engineering and a postgraduate diploma in Management from the McGill University. He then attended the University of Wisconsin, USA, where he obtained an MS in Management Technology.

Sultan Ali Allana comes from a prominent family of Sindh which traces its origins from Jhirk, Sindh. His late uncle Ghulam Ali Allana[1] was a friend and biographer of Mohammad Ali Jinnah, Founder of Pakistan. He entered politics at an early age and played an active part in the Pakistan movement. G. Allana has written several books notably: Quaid-e-Azam; The Story of a Nation,[2] Our Freedom Fighters,[3] Pakistan Movement - Historic Documents,[4] A Rosary of Islamic Readings[5] & His Highness Aga Khan III.[6]

He started his banking career from Citibank in 1985, In 1994 he founded Global Securities, a joint venture partner of UBS AG. In 1999 he acquired a management stake in NDLC and was appointed as CEO of the company. NDLC later merged with IFIC Bank to form NIB Bank in October 2003.

As part of a structural reform[7] process, he worked with the Government of Pakistan in 2000 which allowed for the creation of Micro Finance Banks in Pakistan. As a result of the enabling framework, the First Microfinance Bank was established in 2002 and Sultan Ali Allana was appointed its first chairman (2002-2006)

In 2003 he volunteered for the Aga Khan Fund for Economic Development (AKFED) to oversee the Fund’s investments in banking, insurance and aviation,[8][9] and later joined the organization.

In 2004 he was appointed as the Chairman[10] of Habib Bank Limited after its privatization.[11][12]

As chairman HBL Mr Allana had an integral role to play in Pakistan's compliance with respect to the implementation[13] of the action plans required to exit the FATF Grey List.[14] In this regard he was lauded and commended for his efforts[15] by financial experts and serving ministers. In 2022 he wrote an article in Caught in the dept trap[16] where he urged for critical restructuring of Pakistan's economic affairs so as not to let the country fall into the ever-looming debt trap. He also wrote in detail in an article about the implications of devaluation of Pakistan currency[17]

Sultan Allana has served on several government committees as a professional and expert in the field of finance and economics which have included: Special Cell/Think Tank on COVID-19,[18] CPEC Business Council,[19] Economic Advisory Council[20] & the Advisory Council for the Ministry of Maritime Affairs

Shabbar Zaidi took to Twitter to congratulate Allana and wrote:[21] "I congratulate Mr Sultan Allana of HBL and his team for excellent and tireless work with respect to FATF. On national issues we are united.[14] Pakistan Zindabad."

“While many contributed brilliantly towards our success in FATF, I must specially acknowledge HBL chairman Sultan Ali Allana, who hired and paid millions of dollars to top international consultants required to guide our Pakistan team in helping us get through FATF. Well done HBL Pakistan," the minister said.[15]

He was awarded the Sitara-i-Imtiaz in 2006 for his "valuable services to Pakistan[22]", in the economic and financial sector, specifically with reference to the creation of the framework Micro Finance institutions in the country and for the establishment of the First Micro Finance Bank.

In 2023, he was conferred the Hilal-i-Imtiaz by the President of Pakistan.[23]