Which Bank has given First loan in Millions to Pakistan government at the time independence?

The correct answer is Habib Bank (HBL).
At the time of independence in 1947, Pakistan faced a severe financial crisis. The new country was struggling to manage its basic administrative expenses, and the promised share of assets from the central treasury had not yet been fully released. In this critical hour, Habib Bank provided a loan of 80 million rupees to the Government of Pakistan to bridge the gap.

A Historic Partnership:

The relationship between the Habib family and the founders of Pakistan was one of deep trust. Before independence, at the request of Quaid-e-Azam Muhammad Ali Jinnah, the Habib family moved the bank’s headquarters from Bombay (now Mumbai) to Karachi. This move ensured that the nascent state had a functioning financial institution ready to support its economy.

The "Blank Check" Legend:

There is a famous historical narrative that when the government was unable to pay the salaries of its employees, the Habib family presented a "blank check" or a significant financial contribution to Muhammad Ali Jinnah to stabilize the national exchequer. This act of patriotism cemented Habib Bank's role as the "National Bank" before the official National Bank of Pakistan (NBP) was even established in 1949.

Status of the Other Options:

• United Bank Limited (UBL): This bank was founded much later, in 1959, by Agha Hasan Abedi.


• MCB Bank (Muslim Commercial Bank): While founded in 1947 in Calcutta, it was not the primary lender for the initial government startup loan.


• National Bank of Pakistan (NBP): The NBP was created by a government ordinance in November 1949 specifically to handle the jute trade crisis; it did not exist in the first few months of 1947.