Financial Services

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To encourage the creation of strong and efficient capital markets, AKFED provides an institutional umbrella for banks, insurance groups, and property owning and management companies in eastern Africa, Central Asia and South Asia.

AKFED’s investments include a controlling interest in Habib Bank Limited (HBL), Pakistan’s largest private bank (acquired through a government privatisation programme in 2004) and the Development Credit Bank Limited (DCB) in India. AKFED is also the founder and lead shareholder in the Kyrgyz Investment and Credit Bank (KICB), which focuses on the corporate sector and on medium and long-term finance that will contribute to the growth of the banking industry and stimulate entrepreneurial activity. In Bangladesh, AKFED is the majority owner of a leading provider of corporate finance and lending services to major businesses and projects.

Its holdings in East Africa include the Diamond Trust Bank, which was founded in the 1930s in Kenya to help recycle local savings into loans for home building and small businesses. It now offers a range of retail banking products. The Jubilee Insurance Group provides insurance across the region. In Pakistan, New Jubilee Insurance and New Jubilee Life offer a range of products.

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