Arif Habib

What Arif Habib does

Arif Habib Limited (AHL) is Pakistan's largest securities brokerage, investment banking, and research firm, listed on the Pakistan Stock Exchange under ticker AHL with 63.01% ownership held by holding company Arif Habib Corporation Limited. AHL was established in 2004 by separating the brokerage business from Arif Habib Securities Limited (founded 1994), and operates four core divisions: Brokerage, Investment Banking, Research, and Money Markets & Forex. The firm serves institutional investors (Asset Management Companies, Banks, Insurance Companies, DFIs, Public sector Pension Funds, HNIs), corporate issuers seeking capital raising or M&A advisory, retail investors, interbank counterparties (for money market and forex brokerage), and overseas Pakistanis via the State Bank's Roshan Digital Account initiative. Its client roster includes landmark transactions such as the HBL secondary offering (PKR 107 billion), UBL secondary offering (PKR 38 billion), and over PKR 350 billion in cumulative capital raising led by CEO Shahid Ali Habib.

AHL's product surface is anchored by proprietary digital trading infrastructure — AHL eTrade (web-based platform), Trade Cast (desktop terminal), and AHL Tick NXG (iOS/Android mobile application) — alongside Bloomberg-served research covering over 50 companies across 11 sectors representing over 70% of KSE-100 Index free-float market cap. Investment banking services span IPOs, secondary public offerings, rights issues, convertible issues, private placements, debt capital market products (TFCs, Sukuks, Commercial Papers, MTNs), project financing, and M&A advisory. The Bond Automated Trading System (BATS) supports outright transactions in Bonds, T-Bills, Sukuk and TFC for institutional clients. The firm maintains nine physical offices across Pakistan (Karachi HQ plus Lahore, Islamabad, Peshawar, Faisalabad, Multan, and three Karachi sub-branches) and an international equity sales desk serving global asset managers, hedge funds, banks, pensions, endowments, corporations and governments.

AHL generates revenue through three primary streams: (1) equity brokerage and trading commissions on the Pakistan Stock Exchange from institutional, retail, and international clients; (2) investment banking fees from capital raising and M&A advisory mandates (Lead Manager / Book Runner / Joint Book Runner roles on landmark Pakistani IPOs and secondary offerings); and (3) interbank money market and forex brokerage income from repo, reverse repo, call/clean transactions, and spot/forward/swap FX dealing. Retail clients subscribe to tiered Classic and Premium accounts with bundled research, mobile/desktop/web access, and (in Premium) dedicated trader assistance. The firm holds AA-/A-1 credit rating from JCR-VIS and BMR1 from PACRA, and was the only non-banking financial institution in PSX's Top 25 Companies of Pakistan across multiple years (2007–2019).

Name

Arif Habib

Legal name

Arif Habib Limited

Website

https://arifhabibltd.com

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

101–250 employees

Short description

Arif Habib Limited is Pakistan's largest listed securities brokerage, investment banking, and research firm, serving institutional, retail, corporate, interbank, and overseas-Pakistani clients on the Pakistan Stock Exchange through proprietary trading platforms and a full-service capital markets franchise.

Ownership category

akta.pro rank

Product category

Securities Brokerage and Investment Banking

NAICS

Investment Banking and Securities Intermediation (52315), Securities and Commodity Contracts Intermediation and Brokerage (5231), Portfolio Management and Investment Advice (523940)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

akta.pro secondary industry

Interdealer Bond Broker (IDB) Platforms (FSAFACAF)

Keywords

• Securities brokerage services
• Investment banking advisory
• Equity capital markets
• Interbank money market
• Forex brokerage services

Headquarters

HQ city

Karachi

HQ country

Pakistan

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Equity Brokerage and Trading Commissions: Commission income from executing equity trades for institutional and retail clients on the Pakistan Stock Exchange. AHL serves Foreigners, High Net Worth Individuals, Banks, Mutual Funds, Government Pension Funds, Insurance Companies and Retail Investors through dedicated trading desks.
2. Investment Banking Fees: Fees from capital raising activities including IPOs, Secondary Public Offerings, Rights Shares, Convertible Issues, Private Placements, Debt Capital Market products (Term Finance Certificates, Sukuks, Commercial Papers, Medium Term Notes), Project Financing, and M&A advisory.
3. Money Market and Forex Brokerage: Interbank brokerage income from Money Market Desk (Repo, Reverse repo, Call and Clean transactions) and Foreign Exchange Desk (buying/selling dollars in spot, forward and swaps). Fixed Income desk manages outright transactions of Bonds, T-Bills, Sukuk and TFC.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels10 records

Core offering

Arif Habib Limited provides equity brokerage and trading services on the Pakistan Stock Exchange, full investment banking services including IPOs, secondary public offerings, rights issues, debt capital market instruments (TFCs, Sukuks, commercial papers) and M&A advisory, institutional-grade equity research covering over 50 companies across 11 sectors, and interbank money market and forex brokerage. Services are delivered through proprietary digital trading platforms (AHL eTrade web, Trade Cast desktop, AHL Tick NXG mobile) and dedicated institutional, retail and interbank sales desks across Pakistan.

Product overview

Arif Habib Limited (AHL) operates as a full-service securities brokerage and investment banking firm with four core divisions: Brokerage, Investment Banking, Research, and Money Markets & Forex. The firm complements its core services with proprietary digital trading platforms including AHL eTrade (web-based), AHL Tick NXG App (mobile), and Trade Cast (desktop terminal). Services are delivered to diverse client segments including institutional investors, corporations, high net worth individuals, and retail clients, with specialized offerings for overseas Pakistanis through Roshan Equity Investment accounts integrated with Pakistan's capital market infrastructure.

Differentiator

Problem solved

Functional benefit

Products and services

• AHL eTrade Online trading platform enabling clients to execute trades on the Pakistan Stock Exchange, monitor real-time quotes, and access account balance and portfolio holdings via a web interface. Targeted at retail investors and self-directed clients in Pakistan.
• AHL Tick App (NXG) Mobile application providing live KSE stock prices and full investment functions including buy/sell of shares and cash withdrawal for retail traders on the go. Available on iOS and Android.
• Trade Cast Desktop trading terminal providing comprehensive trading functionality for Windows PC and MacBooks with optimized performance on low-bandwidth connections. Targeted at active retail traders.
• Brokerage Services Equity brokerage and trading services catering to foreign investors, high net worth individuals, banks, mutual funds, government pension funds, insurance companies and retail investors through dedicated institutional and retail trading desks on the Pakistan Stock Exchange.
• Investment Banking Services Comprehensive financial advisory, capital raising and risk management services including M&A advisory, equity capital markets (IPOs, SPOs, rights shares, convertibles, private placements) and debt capital markets (Term Finance Certificates, Sukuks, Commercial Papers, Medium Term Notes), Project Financing and corporate restructuring for corporate and sovereign clients.
• Research Services Equity research covering over 50 companies across 11 major sectors (more than 70% of KSE-100 Index free-float market cap), delivering in-depth reports, daily market call notes, sector coverage, company coverage and budget reports to support institutional and corporate investment decisions.
• Money Markets & Forex Brokerage Interbank brokerage services covering money market desk (Repo, Reverse Repo, Call and Clean transactions), fixed income desk (outright transactions of Bonds, T-Bills, Sukuk and TFC via BATS) and foreign exchange desk (buying and selling dollars in spot, forward and swaps). Served by a 15-professional team with average experience exceeding 10 years.
• Roshan Equity Investment Investment account product allowing Non-Resident Pakistani individuals and POC Card holders to invest in the Pakistan Stock Exchange through the State Bank of Pakistan's Roshan Digital Account initiative, with trading in shares and settlement via CDC.

Quantifiable outcome

• Over PKR 350 billion raised across equity, structured equity and bonds for corporate and sovereign clients
• +4 more outcomes

Named customers18 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• HisensecoreStrategic or Co-development PartnerSelect Technologies Limited (a subsidiary of Air Link Communication, for whom AHL is IPO consultant) announced a strategic partnership with Hisense to locally manufacture and distribute home appliances in Pakistan, expanding into air-conditioner assembly, smartphone plant upgrades, and TV assembly.
• State Bank of Pakistan / Roshan Digital Account EcosystemcoreStrategic or Co-development PartnerAHL participates as a brokerage partner in the Roshan Digital Account initiative by the State Bank of Pakistan, enabling non-resident Pakistanis to open trading accounts and invest in PSX through AHL's platform, with account opening processed within 24 working hours.

Scale indicators10 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• BMA Capital Management: Pakistani brokerage and investment banking firm offering equity sales, research, and corporate finance services. Competes with AHL on trading execution, IPO mandates, and institutional coverage.
• Foundation Securities: Full-service Pakistani brokerage providing equity brokerage, research, and investment banking services. A peer competitor to AHL across retail, institutional, and capital markets advisory.
• JS Global Capital: One of the largest brokerage and investment banking firms in Pakistan, offering equity brokerage, research, and investment banking services. Direct competitor to AHL for IPO mandates, trading volumes on PSX, and institutional client relationships.
• Elixir Securities Pakistan: Karachi-based securities brokerage providing institutional and retail equity trading with research coverage. Directly comparable to AHL on brokerage execution and research distribution.
• Topline Securities: Pakistan-based brokerage and investment banking firm providing equity trading, corporate finance, and research. Competes head-to-head with AHL for institutional brokerage mandates and capital markets advisory work.
• Taurus Securities: Pakistan-based brokerage and investment bank offering online trading, equity research, and corporate finance. Competes with AHL in retail brokerage and IPO mandates.
• IGI Securities (IGI Finex): Pakistan-focused brokerage and investment banking firm providing equity trading, fixed income, and corporate advisory. Direct peer to AHL in interbank money market and forex brokerage.
• AKD Securities (AKD Trade): Pakistan-focused securities broker and investment bank offering online trading, equity research, and corporate finance. Directly comparable to AHL across retail brokerage, research, and investment banking.
• Next Capital: Pakistani brokerage and corporate finance firm offering equity trading, investment advisory, and IPO advisory. Comparable to AHL in capital markets advisory and equity brokerage.

Broad incumbents

• EFG Hermes: Leading Middle East and frontier markets investment bank with brokerage, investment banking, and asset management. Comparable to AHL as a regional franchise for capital markets advisory in frontier/emerging markets like Pakistan.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/arifhabibltd
• Facebookfacebook.com/arifhabibltd
• LinkedInlinkedin.com/company/arif-habib-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles23 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Arif Habib