The outstanding banker and philanthropist Sultan Ali Ali was honored with the prestigious Nishan-E-Khidmat, one of Pakistan’s highest civil awards, in a special investiture ceremony held on Pakistan’s day (today).
The prize was approved by President Asif Ali Zardari on August 14, 2024, during the 78 celebrations of the country’s independence day, recognizing the notable contributions of Allana in the public service field.
Sultan Ali Allana has been a driving force behind the transformative initiatives in the financial and social sectors of Pakistan. Pioneer in Micro-Banca, founded the first microfinance bank in 2002, feeling the foundations for financial inclusion.
His 40 -year -old career is a testimony of innovation and progress, marked by his efforts to reposition Pakistan’s financial system to meet international standards, which played a fundamental role in the elimination of the country from the Fatf Gray list.
Among its many achievements, Allana headed the creation of Roshan’s digital accounts in September 2020. By February 2025, the initiative had opened 797,350 accounts and generated deposits exceeding $ 9,768 billion, offering foreigners a channel without problems for remission and investment.
He also launched the first agricultural initiative of Pakistan under a commercial bank, supporting small farmers with sustainable frames that strengthened rural economies.
In addition to its banking innovations, Allana has been fundamental to foster commerce and commerce in southern Asia and ensure international investments for Pakistan through commitments with global financial institutions, such as FMI, BII, BII, IFC and Chinese financial institutions.
Its philanthropic companies, including the establishment of the HBL Foundation, have promoted access to education and medical care for unattended communities.
When commenting on his remarkable service, President Asif Ali Zardari commented: “The dedication of Sultan Ali Ali Ali to the public service exemplifies the ideals of this award. His contributions have left an indelible brand about the progress and development of Pakistan.”
The recognition of Sultan Ali Ali is a celebration of his visionary leadership and his lasting commitment to Pakistan’s prosperity.
‘More deserving’
Former Commerce Minister Humayun Akhtar called Sultan Ali Ali, the “most deserving” receiver of Nishan-E-Khidmat, praising his fundamental role in the transformation of the banking system, tourism and education of Pakistan.
Muneer Kamal, CEO of the Pakistan Banks Association, highlighted the key contributions of Allana, particularly her leadership during HBL privatization.
“At the time of privatization, he acted quickly. His efforts to bring $ 400 billion to Pakistan were an important achievement,” he added.
Dr. Waqar Masarod, former secretary of Finance, praised the role of Allana by addressing financial challenges nationwide, particularly the elimination of Pakistan from the Fatf Gray list.
Meanwhile, the former finance minister, Miftah Ismail, also accredited Allana for his efforts to guide Pakistan of Fatf restrictions, recognizing his contributions to social projects.
Khyber Pakhtunkhwa’s governor, Faisal Karim Kundi, congratulated Allana, stating: “He has always been at the forefront every time Pakistan faced great challenges, whether natural disasters, economic crises or sports sponsorship.”
The renowned economist Dr. Ashfaq Hussain described the prize as a recognition of the important contributions of Allana to banking, social development, education and medical care.
