Esmail Ali who was from Gujarat in Western India began the Khoja Mithabhai Nathoo Trading Company in 1841. Joining the firm in 1891, his son Esmail Habib established Habib and Sons in 1922, with the famous Habib family logo, the Lion of Ali and the sword of Ali, Zulfiqar, above it. When Seth Ismail Habib…
A Pakistani economist, international development theorist, and politician Dr Mahbub ul Haq (February 1934 – 16 July 1998) served as the Federal Minister of Finance of Pakistan from 10 April 1985 to 28 January 1986, and again from June to December 1988 in the Caretaker Cabinet. To quote the New York Times, “An early proponent…
The dominance of family firms across the world is now well established: Among the largest publicly traded companies, family firms account for 44% of large firms in Western Europe, over 66% in East Asia, with their dominance in around the world being stronger in countries with relatively weaker capital markets and institutions. Family firms’ dominate…
Difficulties are present for all family businesses regardless if they are run by first, second or third generation. Once established the difficulties will get easier for family business in later generations. What really leads to the failures of family business in the second or third generation is the difficulty in succession planning and handing over…
As in most other countries, family business plays an important role in the national economy of Pakistan. About 80% of our economy are created by family business. But family business seems to be in a kind of crisis today. A huge chunk of Pakistan’s 22 richest family-owned businesses, tracing back to the 1960s and 70s…
Two thirds of Pakistan’s population live in rural areas, rural poverty is a major destabilizing factor. Authoritative studies have documented rising poverty levels with a decreased capacity of acquire and hold land which is the main source of subsistence in the agricultural areas. Pakistan’s economy has also been growing slowly over the past two decades. The annual…
Family firms are the most typical business organizational form, in most Asian countries (excluding modern China) they are often the oldest as well. Representing more than 80% of all (private and public) corporations across a vast swath of industries they are a third of the value of listed firms. Private ownership in China has only…
According to CGAP, it is estimated that around 1.2 billion adults worldwide were able to gain access to formal financial accounts for the first time between 2011 and 2017, which represents a 35% growth over a six-year period. This tremendous feat was achieved due to the efforts of players other than banks such as mobile…
Introduction Without addressing “financial inclusion” on a war footing it will be impossible to close the gap between the haves and have-nots with respect to benefitting from the banking system. Their lives must be brought into the financial comfort zone by access to services, products and commodities presently available only to limited number of citizens…
Despite entering the era of digital age the approach of our government institutions, with control of our resources in the hands of the few, is to act in accordance with their normal modus operandi and delay the process. This is done to the detriment of the masses and is a true reflection of the colonial era…
