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The Federal Bank for Cooperatives (FBC) was a specialized financial institution in Pakistan that catered to the needs of housing and agricultural cooperatives. Established in 1976, it was one of the oldest banks in the country and played an important role in providing agricultural credit during the early decades after partition. It went defunct in April 2014.

History

The concept of cooperative banks was introduced during the British rule, and Punjab Provincial Cooperative Bank Limited (PPCBL), later called FBC, was established under this concept. The bank has faced several challenges over the years, including bureaucratic tangles and restrictions on doing business.

Legislative changes

In 2018, the legislative body of Pakistan approved two significant pieces of legislation: one that repealed the establishment and regulation of cooperative banking, and another that repealed the bill concerning the corporation responsible for financing house building. The cooperative banking entity, initiated in 2002 following the advice of Pakistan's central banking authority, ceased operations officially in April 2014.

References

1. ^ Farooq, Mariam Umar (September 3, 2023). "How one of Pakistan's oldest banks cleaned up its act". Profit by Pakistan Today.
2. ^ "Reports seeking to repeal Federal Bank & HBFC Acts presented in NA". Brecorder. February 16, 2018.
3. "Establishment of the Federal Bank for Cooperatives and Regulation of cooperative Banking Act, 1977(Repeal by Act XXVi of 2018 s.2)". pakistancode.gov.pk.
4. https://senate.gov.pk/uploads/documents/1660556572_288.pdf
5. "NA passes bills to repeal FBC, HBFC". www.thenews.com.pk.

v t e Banking in Pakistan
Central bank	State Bank of Pakistan
Big Four	Habib Bank MCB Bank National Bank United Bank
Commercial banking	Public sector Bank of AJK Bank of Khyber Bank of Punjab First Women Bank Industrial Development Bank Karakoram Cooperative Bank Punjab Provincial Cooperative Bank Limited Sindh Bank Zarai Taraqiati Bank Limited Private sector Allied Bank Askari Bank Bank AL Habib Bank Alfalah HabibMetro JS Bank Soneri Bank Standard Chartered Pakistan
Microfinance	Advans Pakistan Finca Pakistan HBL Microfinance Bank Khushhali Bank NRSP Microfinance Bank Telenor Microfinance Bank
Islamic banking	BankIslami Bank Makramah Al Baraka Bank Pakistan Dubai Islamic Bank Pakistan Faysal Bank MCB Islamic Bank Meezan Bank Samba Bank
House building	House Building Finance Company
Savings Bank	National Savings Organization
Foreign banks	Citibank Pakistan Deutsche Bank Pakistan ICBC Pakistan BOC Pakistan Bank of Tokyo Mitsubishi Pakistan
Defunct banks	BCCI Bank of Bahawalpur Burj Bank Federal Bank for Cooperatives KASB Bank NIB Bank PICIC Commercial Bank RBS Pakistan Silkbank Union Bank
See also	List of banks in Pakistan Pakistani bankers Institute of Bankers Pakistan KIBOR National Institute of Banking and Finance
Category

• Banks of Pakistan
• Companies established in 1976
• Companies disestablished in 2014
• Defunct banks of Pakistan
• Agricultural finance