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that is essential to the achievement of business goals and the safety of the organization. (Jonathan Davies, Mike Finlay, Tara McLenaghen & Duncan Wilson, 2006)

ChAPTER # 03: Industry Overview

3.1) Historical Background

i.b) Specialized Banks

Specialized banks are Foreign Exchange Banks, Industrial Banks, Development Banks, Export-Import banks catering to specific needs of these unique activities. These banks provide financial aid to industries, heavy turn-key projects and foreign trade.

In the era of 1960s and 1970s the specialized banks were established, like IDBP and ADBP, they were either controlled by state bank of Pakistan or by Government. Cooperative banks were also included in it although they were operating before partition and after Division of subcontinent they were allowed to execute their operations. Other specialized bank is SME Bank, introduced to support the small scale industries.

i.b. 1) Specialized Banks in Agriculture Sector

In agricultural sector we have two financial institutions which assist and help agricultural sector in Agricultural Credit.

A) Zarai Taraqiati Bank Limited

Zarai Taraqiati bank formerly known as Agricultural Development bank was inaugurated in 1957. It came into existence when agricultural finance corporation and agricultural bank of Pakistan were merged together. Then in 2002 it was declared as public limited company.

The objectives of the ZTBL are to,

Assist rural community, particularly the small farmers, in raising their productivity and income levels through timely delivery of credit, advisory and ancillary services.

Build ZTBL's image as a proactive, client friendly, financially & operationally sustainable with indigenous product deployment.

Establish and provide backward and forward linkages to strengthen agriculture, value added commodity chains.

Engage in public - private and wholesale - retail partnership to deepen outreach and reduce operating cost.

Function as a rural commercial bank to mobilize rural capital formation and to commercialize the agricultural sector by delivering the true value of credit to the client.

Provide a wide range of risk Insurance products to its clients.

Open up its venues of operation to Domestic & International Banking Industry to avail comparative advantages.

B) Cooperative Banks

The second and the oldest are cooperative banks. The main objective of Cooperative Movement, which started in close of 19th Century, was to provide credit to the farmers who were heavily indebted to money lenders (Banya). The Movement was organized in most part of subcontinents on a three tier system

Primary Societies at the base

Cooperative Banks and Banking Union in the middle, and

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