Muhammad Arif Habib ( ; b. 1953) is a Pakistani

stock trader A stock trader or equity trader or share trader, also called a stock investor, is a person or company involved in trading equity securities and attempting to profit from the purchase and sale of those securities. Stock traders may be an inve ...

who founded the Arif Habib Group. He also serves as member of Boards of Governors of Karachi School of Business and Leadership (KSBL).

Early life

Habib was born to a

Memon Memon may refer to: Ethnic group and language * Memon people, Sunni Muslim community in Gujarat, India and Sindh, Pakistan ** Memons (Kathiawar) ** Kutchi Memon, from Kutch, Gujarat *** Kutchi Memons in Bombay ** Bantva Memons, from Bantva, Gujara ...

family in Karachi as the youngest of nine siblings. His family were from Bantva,

Gujarat Gujarat () is a States of India, state along the Western India, western coast of India. Its coastline of about is the longest in the country, most of which lies on the Kathiawar peninsula. Gujarat is the List of states and union territories ...

, where they owned a

tea Tea is an aromatic beverage prepared by pouring hot or boiling water over cured or fresh leaves of '' Camellia sinensis'', an evergreen shrub native to East Asia which probably originated in the borderlands of south-western China and nor ...

venture and several properties. Following the independence of Pakistan in 1947, they left behind their businesses and migrated to

Pakistan Pakistan, officially the Islamic Republic of Pakistan, is a country in South Asia. It is the List of countries and dependencies by population, fifth-most populous country, with a population of over 241.5 million, having the Islam by country# ...

. His formal education ended after completing 10th grade and never attended university. In 1970, he began his career in the brokerage industry at the

Karachi Stock Exchange The Pakistan Stock Exchange (PSX), founded as Karachi Stock Exchange (KSE), is a stock exchange based in Karachi, Pakistan. PSX was classified by MSCI as a Frontier markets, frontier market on 8 September 2021. Pakistan Stock Exchange was fou ...

, which his brother had purchased.

Career

In 1970, at the young age of 17, Habib began his career as a

stockbroker A stockbroker is an individual or company that buys and sells stocks and other investments for a financial market participant in return for a commission, markup, or fee. In most countries they are regulated as a broker or broker-dealer and ...

at the

(KSE), hired by his elder brother who bought a trading license. His monthly salary was 60 rupees. He spent his days in the trading hall analysing shares and statements for investors, which he credits as having contributed to his knowledge of stocks. In 1992, Habib was voted president of the KSE and he computerised the stock trading system. He was elected president of the KSE five more times. In 1998, Habib acquired stocks following market crash after nuclear tests by India and Pakistan. Anticipating a market recovery, Habib made substantial investments during this period, which proved profitable as the market saw a significant rebound in the following years. In 2000, he founded Pakistan's second

asset management Asset management is a systematic approach to the governance and realization of all value for which a group or entity is responsible. It may apply both to tangible assets (physical objects such as complex process or manufacturing plants, infrastr ...

company which currently manages over $430 million (Rs. 49 billion). With Pakistan's state-owned companies undergoing a process of

privatisation Privatization (rendered privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation w ...

at that time, Habib bought stakes in fertiliser, cement and steel production, as well as banking. In 2008, regulatory curbs on stock trading due to the

2008 financial crisis The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...

resulted in Habib's stock clients defaulting, as the

KSE 100 Index The KSE-100 Index is a total return stock index acting as a benchmark to compare prices on the Pakistan Stock Exchange (PSX) over a period. In determining representative companies to compute the index on, companies with the highest market ca ...

fell by 48% within two months. However, his business recovered following a rise in corporate earnings. In addition to his role at KSE, Habib was a founding member of the Central Depository Company. He has also served as a member of the Privatisation Commission, Board of Investment, and the Securities and Exchange Ordinance Review Committee. The

government of Pakistan The Government of Pakistan () (abbreviated as GoP), constitutionally known as the Federal Government, commonly known as the Centre, is the national authority of the Islamic Republic of Pakistan, a federal republic located in South Asia, con ...

has appointed him into the

board of governors A board of directors is a governing body that supervises the activities of a business, a nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulations ...

for several companies.

Air Karachi

Air Karachi is a new Pakistani airline seeking a Regular Public Transport (RPT) license from the Civil Aviation Authority (CAA) to begin domestic and international flights. The airline is backed by local investors and registered with the Securities and Exchange Commission of Pakistan (SECP). They plan to offer both passenger and cargo services, with initial plans to operate with three leased aircraft. Air Karachi is a new venture in Pakistan's aviation sector, with investors announcing an initial seed funding of PKR 5 billion. The airline has applied for an RPT license from the CAA, which is necessary to operate commercial flights. Air Karachi intends to start with domestic flights and expand to international routes in the future. The airline plans to begin operations with a fleet of three leased aircraft. Former Southern Commander (retd) Air Vice Marshal Imran has been appointed as the CEO of Air Karachi. Key shareholders include Aqeel Karim Dhedhi, Arif Habib, SM Tanveer, and others.

References

{{DEFAULTSORT:Habib, Arif Muhammad 1953 births Businesspeople from Karachi Living people Memon people Pakistani chief executives Pakistani investors Pakistani people of Gujarati descent Pakistani philanthropists Pakistani stock traders