update and improve this article making sure its up-to-date: The Aga Khan Development Network (AKDN) is a global network of institutions that aims to improve the quality of life for individuals and communities in some of the world's poorest and most marginalized areas. Through its various initiatives and institutions, AKDN is working to create sustainable economic development, improve healthcare and education, and promote cultural pluralism and environmental sustainability.
In 2002, the Government of Pakistan was looking at privatizing the banking sector, His Highness, Shah Karim al-Husayni, Aga Khan IV, was interested in acquiring HBL. AKFED won the bid for HBL in December 2003 and in February 2004, management control was transferred to AKFED and it has been the majority shareholder of HBL ever since. As an international bank, HBL has been working in partnership with AKDN to support its development goals committed to providing essential financial services to communities across the globe, and its partnership with AKDN is helping to drive positive change in some of the most challenging environments.
AKDN's development philosophy is centered on creating sustainable economic development, healthcare, education, and cultural pluralism in the communities it serves. This means not only addressing immediate needs but also focusing on long-term solutions that enable communities to sustain their development over time.
To achieve these goals, AKDN's approach emphasizes the importance of community participation and empowerment. It works with local stakeholders to create programs and solutions that are tailored to the specific needs of each community. By prioritizing community involvement, AKDN ensures that its initiatives are aligned with the needs and values of the communities it serves, making them more effective and sustainable over the long term.
In addition to its focus on sustainable economic development, healthcare, education, and cultural pluralism, AKDN also recognizes the importance of partnerships with the private sector to drive development. By partnering with private sector organizations, AKDN is able to leverage their expertise, resources, and networks to create innovative solutions that can have a greater impact on the communities they serve. These partnerships also enable AKDN to create sustainable business models that can generate revenue and create jobs, contributing to the economic growth of the regions in which they operate. HBL is one of AKDN's key partners in this regard, providing critical support to AKDN's development initiatives.
Habib Bank Limited (HBL), an international bank, is committed to sustainable banking practices, driven by the recognition that financial institutions play a vital role in achieving sustainable development goals. The bank’s commitment to sustainability is reflected in its focus on environmental responsibility, financial inclusion, and investment in technology infrastructure.
HBL has adopted policies and practices to promote environmental sustainability, including reducing the bank’s carbon footprint, managing waste responsibly, and supporting renewable energy initiatives. By investing in technology infrastructure, HBL has also improved access to financial services, making it easier for individuals and businesses in underserved communities to access essential financial tools and resources.
HBL's partnership with AKDN is a natural extension of the bank's commitment to sustainable banking practices. Through its partnership with AKDN, HBL is able to support sustainable economic development and promote financial inclusion in some of the world's most challenging environments. Together, AKDN and HBL are working to drive positive change and create a better future for communities around the world.
HBL's commitment to financial inclusion is aligned with AKDN's focus on creating sustainable economic development, healthcare, education, and cultural pluralism. By providing access to banking services, HBL is helping to facilitate financial inclusion for underprivileged communities. Through its mobile banking and branchless banking initiatives, HBL has been able to extend its reach to underserved communities, providing them with the necessary financial services to help them thrive.
Moreover, HBL's dedication to small and medium-sized enterprises (SMEs) is crucial to the economic growth of many countries. The bank has developed products and services that cater to the unique needs of SMEs, including specialized financing options. By supporting the growth of SMEs, HBL is driving job creation and contributing to the economic development of the regions in which it operates.
HBL's investment in technology infrastructure has also helped to improve the delivery of banking services and enhance the customer experience. The bank has made significant investments in technology, enabling it to offer alternative delivery channels such as mobile banking, online banking, and ATMs. By leveraging technology, HBL has been able to extend its reach to underserved communities and provide them with access to banking services. The bank is committed to remaining at the forefront of technological innovation in the financial services industry to meet the evolving needs of its customers.
AKDN and HBL have formed a strategic partnership based on a shared commitment to sustainable development, financial inclusion, and social responsibility. HBL's role in supporting AKDN's development initiatives is critical to achieving their shared goals of improving the quality of life for underserved communities in developing countries. As a key player in the banking sector, HBL's network and experience are essential in mobilizing resources and establishing partnerships with other private sector entities to create innovative solutions that have a significant impact on the communities they serve.
The partnership between AKDN and HBL has yielded significant benefits for communities in need around the world. The collaboration has led to improved access to healthcare, education, and financial services, which has transformed the lives of many people. For example, the partnership has helped establish a network of schools in rural areas, providing quality education to thousands of children who previously had limited access to educational opportunities.
The partnership between AKDN and HBL has been instrumental in driving sustainable development in many parts of the world. The collaboration between the two organizations has enabled them to leverage their respective strengths and expertise to achieve their shared goal of improving the lives of people in underserved communities. 
Additionally, the partnership between the Aga Khan Development Network and HBL has yielded significant benefits for communities in need, such as improved access to healthcare, education, and financial services. This partnership has been successful in driving sustainable development in many parts of the world. Moreover, HBL is committed to sustainable development and promoting high levels of Environmental, Social, and Governance practices in the banking industry. Its impactful practices are embedded in its DNA and drive its business through robust governance systems and risk management protocols, enabling it to structure and implement sustainable solutions across all areas of operations.
Furthermore, HBL provides easy access to financial services for those who previously lacked access to banking, such as residents in remote areas or those with little financial education. Globally, its digital tools, such as HBL Konnect, serve millions of customers across the country. HBL also designs programs and services to meet women's financial needs. During the COVID-19 pandemic, HBL's digital systems enabled the delivery of the Ehsaas Emergency Cash program, the largest social safety net initiative in Pakistan's history.
In addition, HBL Microfinance Bank Limited offers a range of products, serving over 1.8 million customers. Its development finance initiative uses a "Farm-to-Fork" ecosystem for farmers, and it has implemented the National Financial Literacy Programme. Moreover, HBL Foundation, the non-profit arm of HBL, conducts most of the Bank's corporate social responsibility (CSR) work, directly impacting around 9.5 million lives. HBL's philanthropic funding to the Foundation is increasing to 1.5 percent of its profits after tax from 2023.
To meet its goals, HBL emphasizes development finance to uplift the entire agriculture-based economy across Pakistan, improving the lives of small farmers. It also promotes sustainable use of resources to reduce its environmental impact, financial inclusion through technology-based solutions, a CSR strategy that contributes to health, education, community development, art, culture, and public engagement, inclusive gender equity and diversity training and learning programs for its employees, and strategically targeted investments in businesses that contribute to social development objectives. Finally, it has a code of ethics that sets the tone for proper conduct and ethical behavior in conducting business and personal interactions.
In conclusion, the Aga Khan Development Network (AKDN) and Habib Bank Limited (HBL) are dedicated to promoting sustainable development, social and environmental responsibility, and financial inclusion. Through innovative initiatives such as microfinance, digital banking, and development finance, HBL has been able to provide essential financial services to individuals and communities who have been previously excluded from the formal banking sector. AKDN's holistic approach to development, which encompasses education, healthcare, culture, and social welfare, is complemented by HBL's commitment to sustainable and inclusive banking practices. Together, these organizations are working to build a brighter future for individuals and communities across the world.