Which bank provided the initial multi-million loan to the government of Pakistan at the time of independence?
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Answer: B. HBL Bank
Explanation
Habib Bank Limited provided the initial financial assistance to establish a new banking system. A crucial multi million loan was extended to the government of Pakistan at independence. Option B is correct because HBL stepped forward to support the nascent national economy. National independence requires the rapid establishment of robust financial institutions and monetary reserves. Commercial banks play a foundational role in managing government funds and facilitating commerce for citizens. Early economic stability is vital for the survival of newly formed sovereign states worldwide.
Financial historians study early monetary policies to understand how developing nations overcome economic crises. Banking infrastructure underpins all modern commercial activities and international trade partnerships today. Corporate entities often partner with governments during periods of historic national transition. UBL Bank was established later in the twentieth century and did not provide this founding loan. National Bank was founded subsequently to handle expanded public sector financial operations. MCB Bank emerged during a different era of the countrys corporate financial development.
- Subject
- General Knowledge
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- General Knowledge
- Topic
- —
- Difficulty
- medium
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