Brief History: Bank is a pipeline through which currency moves into and out of circulation.

Commercial Banks have constituted the most important part of the intuitional credit in the economy of Pakistan. Being the largest source of credits, Banking Industry is a pivot of the whole economic activities in Pakistan. Section 37(2A) of State Bank of Pakistan Act 1965 lays down that the Banks must have paid-up capital & reserve of not less than Rs/.5 Lac & fulfilling certain other requirements for declaring as Scheduled Bank. At the time of independence Bank services was badly affected. But with the passage of time these are improving. The government of Pakistan nationalized all Banks in early 1974. This act was done to minimize control of few hands over banking. But this step was proved a futile for the Banking in Pakistan. So the Govt. had to revise its decision in1990. Since then Banks were working well. Now slogan of the Banks is to serve their customers in the best possible manner.

Introduction of bank Alfalah: