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HBZ to expand banking services in UAE
BY INAYAT-UR-RAHMAN February 05, 2013
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DUBAI: Habib Bank AG Zurich (HBZ), one of the leading international banks operating in the UAE, is planning to expand banking services for its customers across the Emirates.

This was revealed by Rafiq M. Habib, Chairman, Habib Group, during an exclusive interview with The Gulf Today recently.

He said that “the UAE is a strong market for our group and we are willing to spread our banking wings across the country, but are restricted to keep 8 branches to ensure the licensing rules.

“Being a global banking firm, our services are not only limited to the Pakistani community, but we are also providing our state-of-the-art solutions and facilities to all the expatriates living in the UAE and abroad, including locals,” Rafiq added.

He said that the Habib group had pumped billions of dollars into the UAE banking sector.

Dubai economy

Answering a question about Dubai’s economic growth, Rafiq expressed his confidence and optimism, adding that “Dubai is a business hub and its economy is picking up despite the global financial crisis.

“The UAE is becoming a prudent investment choice for  foreigners mainly because the worst is finally over and the country is on the road to recovery,” Rafiq concluded.   

Meanwhile, Habib University Foundation is establishing Habib University, a distinctive liberal arts and sciences university that will provide a well-rounded education to outstanding students from Pakistan and the region.

The ambitious project will be completed at a total cost of $60 million.

The university will be formally beginning operations in fall 2014 from a state-of-the-art 7-acre campus in Karachi.

Rafiq M. Habib, who is also the Chairman of the Board and Chancellor of Habib University, thanked the board for committing their time and expertise to the University. He said: “It is a great privilege to have such distinguished leadership represented here today and is indicative of Habib University’s vision of being a global institution.

“We are well on our way to achieving our goal of building a world-class university that will educate promising students irrespective of their background. We hope that in time Habib University will be the institution of choice in Pakistan.”

Habib University has hired faculty from the top international academic institutions such as Harvard, Columbia, Cornell and UPENN. Habib University also plans to offer more disciplines in future and build a residential campus as well, aspiring to attract a large number of stdents from the region.

The university’s location in a megapolitan city of Karachi is a unique opportunity for global academia to engage in research in one of the most complex, diverse, and geopolitically significant nations of the world.

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