Question 1

What is Allied Bank?

Accepted Answer

Allied Bank is a Pakistani commercial bank operating a representative office in the United Arab Emirates. Headquartered in Lahore, Pakistan, Allied Bank Limited is the 7th largest bank in Pakistan by market capitalization and serves approximately 7% of all Pakistani bank deposits. The UAE representative office facilitates banking relationships, remittance partnerships, and correspondent banking services for customers and businesses with financial connections between Pakistan and the UAE.

As part of its international expansion strategy, Allied Bank established its representative office in Dubai to serve the significant Pakistani expatriate community in the UAE and to facilitate cross-border banking and remittance services.

Question 2

When was Allied Bank founded?

Accepted Answer

Allied Bank was established on December 3, 1942, as Australasia Bank in Lahore with an initial capital of PKR 120,000 by Khawaja Bashir Bux, the son of a silk trader. The founder's father, originally from Kashmir, had settled in Lahore after being orphaned at a young age.

In 1974, during Pakistan's nationalization era under Prime Minister Zulfikar Ali Bhutto, Australasia Bank was renamed Allied Bank of Pakistan. During this nationalization, Sarhad Bank, Lahore Commercial Bank, and Pak Bank were merged into Allied Bank, transforming it into one of Pakistan's five nationalized commercial banks. The bank was subsequently privatized in phases, with the Ibrahim Group acquiring Allied Bank in the early 2000s, and the Government of Pakistan selling its remaining 11.5% stake in December 2014.

Question 3

Where is Allied Bank headquartered?

Accepted Answer

Allied Bank's global headquarters is located on Main Boulevard, New Garden Town, Lahore, Pakistan. The UAE representative office is situated at The Business Center, 406 - Khalid Bin Waleed Road, P.O. Box 124147, Dubai, United Arab Emirates.

Beyond its Pakistan headquarters and UAE representative office, Allied Bank maintains international operations in Bahrain (its first international branch opened in 2011) and a representative office in Beijing, China.

Question 4

Where does Allied Bank operate?

Accepted Answer

Within the United Arab Emirates, Allied Bank operates through its representative office in Dubai. The representative office is strategically located in Bur Dubai on Khalid Bin Al Waleed Road, serving as a liaison point for banking services, remittance partnerships, and correspondent banking relationships between the UAE and Pakistan.

The representative office operates Sunday through Thursday from 9:00 AM to 5:30 PM, providing support for remittance flows, trade finance facilitation, and banking partnerships with UAE-based businesses and financial institutions.

Question 5

What services does Allied Bank offer?

Accepted Answer

Allied Bank's UAE representative office provides specialized banking support services rather than full retail banking operations. The primary services include:

Remittance Facilitation: The representative office facilitates inward remittance flows to Pakistan, working with money transfer organizations and exchange houses to enable efficient cross-border money transfers for the Pakistani expatriate community in the UAE.

Correspondent Banking: Supporting banking relationships between UAE institutions and Allied Bank's operations in Pakistan, including trade finance support, letters of credit, and international banking services.

Partnership Development: Building strategic partnerships with UAE-based financial institutions, money transfer operators, and businesses to enhance remittance channels and banking services between the two countries.

The representative office does not accept deposits or provide direct retail banking services to individual customers in the UAE, as it operates under a representative office license rather than a full banking license.

Question 6

What makes Allied Bank unique?

Accepted Answer

Allied Bank's presence in the UAE is distinctive as a representative office specifically focused on facilitating financial flows between Pakistan and the UAE. With over 8 decades of banking history since 1942, Allied Bank brings extensive experience serving Pakistani customers and businesses.

The bank has received international recognition, being named "Pakistan's Best Digital Bank" by Euromoney and "Best Domestic Bank of Pakistan" by FinanceAsia in 2024. In Pakistan, the bank operates over 1,482 branches and 1,500 ATMs, along with its digital banking platform myABL, which serves millions of customers.

Allied Bank's focus on remittance corridors makes it particularly relevant for the large Pakistani diaspora in the UAE, who regularly send funds home. The representative office serves as a bridge connecting UAE-based senders with Pakistan-based recipients through Allied Bank's extensive domestic network.

Question 7

What type of financial institution is Allied Bank?

Accepted Answer

Allied Bank operates as a representative office in the United Arab Emirates. A representative office is a type of foreign bank presence that is licensed by the Central Bank of the UAE but does not have authorization to conduct full banking operations such as accepting deposits or making loans directly to customers.

Representative offices serve primarily as liaison offices that facilitate banking relationships, provide market intelligence, develop business partnerships, and support correspondent banking activities between their home country operations and the host country. This structure allows international banks to maintain a presence in the UAE market and serve cross-border banking needs without establishing a full branch operation.

In Pakistan, Allied Bank Limited operates as a full-service commercial bank, but in the UAE context, it functions specifically under the representative office regulatory framework.

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About Allied Bank in the United Arab Emirates