In finance , the strike price (or exercise price ) of an option is a fixed price at which the owner of the option can buy (in the case of a call ), or sell (in the case of a put ), the underlying security or commodity. The strike price may be set by reference to the spot price , which is the market price of the underlying security or commodity on the day an option is taken out. Alternatively, the strike price may be fixed at a discount or premium.
92-597: Habib Bank Limited ( Urdu : حبیب بینک ) commonly known as HBL , is a Pakistani commercial bank based at Habib Bank Plaza , Karachi , Pakistan. Established in 1941 by the Habib Family , HBL is Pakistan's oldest, largest and the first commercial bank. In 1951, it opened its first international branch in Colombo , Sri Lanka . In 1972, the bank moved its headquarters to the Habib Bank Plaza , which became
184-642: A dialect continuum ranging from Persianised to Sanskritised vocabulary, but now they are more and more different in words due to politics. Old Urdu dictionaries also contain most of the Sanskrit words now present in Hindi. Mutual intelligibility decreases in literary and specialised contexts that rely on academic or technical vocabulary. In a longer conversation, differences in formal vocabulary and pronunciation of some Urdu phonemes are noticeable, though many native Hindi speakers also pronounce these phonemes. At
276-406: A core vocabulary of native Sanskrit and Prakrit derived words and a significant number of Arabic and Persian loanwords, with a consensus of linguists considering them to be two standardised forms of the same language and consider the differences to be sociolinguistic ; a few classify them separately. The two languages are often considered to be a single language (Hindustani or Hindi-Urdu) on
368-546: A heavy influence on both as a co-official language. According to Bruce (2021), Urdu has adapted English words since the eighteenth century. A movement towards the hyper-Persianisation of an Urdu emerged in Pakistan since its independence in 1947 which is "as artificial as" the hyper-Sanskritised Hindi that has emerged in India; hyper-Persianisation of Urdu was prompted in part by the increasing Sanskritisation of Hindi. However,
460-518: A literary medium for Indian writers from the Bombay Presidency, Bengal, Orissa Province, and Tamil Nadu as well. As Urdu and Hindi became means of religious and social construction for Muslims and Hindus respectively, each register developed its own script. According to Islamic tradition, Arabic , the language of Muhammad and the Qur'an , holds spiritual significance and power. Because Urdu
552-595: A notable novel being Umrao Jaan Ada . According to the Navadirul Alfaz by Khan-i Arzu, the "Zaban-e Urdu-e Shahi" [language of the Imperial Camp] had attained special importance in the time of Alamgir ". By the end of the reign of Aurangzeb in the early 1700s, the common language around Delhi began to be referred to as Zaban-e-Urdu , a name derived from the Turkic word ordu (army) or orda and
644-702: A phonological level, speakers of both languages are frequently aware of the Perso-Arabic or Sanskrit origins of their word choice, which affects the pronunciation of those words. Urdu speakers will often insert vowels to break up consonant clusters found in words of Sanskritic origin, but will pronounce them correctly in Arabic and Persian loanwords. As a result of religious nationalism since the partition of British India and continued communal tensions, native speakers of both Hindi and Urdu frequently assert that they are distinct languages. The grammar of Hindi and Urdu
736-589: A policy continued by the Mughal Empire , which extended over most of northern South Asia from the 16th to 18th centuries and cemented Persian influence on Hindustani. Urdu was patronised by the Nawab of Awadh and in Lucknow , the language was refined, being not only spoken in the court, but by the common people in the city—both Hindus and Muslims; the city of Lucknow gave birth to Urdu prose literature, with
828-507: A sectarian divide of "Urdu" for Muslims and "Hindi" for Hindus, a divide that was formalised with the partition of colonial India into the Dominion of India and the Dominion of Pakistan after independence (though there are Hindu poets who continue to write in Urdu, including Gopi Chand Narang and Gulzar ). Urdu had been used as a literary medium for British colonial Indian writers from
920-481: A significant role in the development of the Urdu register. Hindi became the distinct register spoken by those who sought to construct a Hindu identity in the face of colonial rule. As Hindi separated from Hindustani to create a distinct spiritual identity, Urdu was employed to create a definitive Islamic identity for the Muslim population in India. Urdu's use was not confined only to northern India – it had been used as
1012-622: A subsidiary in Ürümqi , Xinjiang , becoming the first Pakistani bank to operate in China . It became the first Pakistani bank and one of three banks from South Asia & MENA Region to open branches in China, with permission to trade in local currency, the Renminbi Yuan (CNY). In February 2018, HBL appointed senior banker Muhammad Aurangzeb (formerly CEO of Global Corporate Bank – Asia Pacific at JP Morgan ) as its President & CEO following
SECTION 10
#17328025725681104-614: A symbol of their religious identity. Hindus in northwestern India, under the Arya Samaj agitated against the sole use of the Perso-Arabic script and argued that the language should be written in the native Devanagari script, which triggered a backlash against the use of Hindi written in Devanagari by the Anjuman-e-Islamia of Lahore. Hindi in the Devanagari script and Urdu written in the Perso-Arabic script established
1196-419: A uniting language. Urdu was chosen as a symbol of unity for the new Dominion of Pakistan in 1947, because it had already served as a lingua franca among Muslims in north and northwest of British Indian Empire . Urdu is also seen as a repertory for the cultural and social heritage of Pakistan. While Urdu and Islam together played important roles in developing the national identity of Pakistan, disputes in
1288-465: A vehicle of poetry, (especially under the Bahmanids ), and is known as Dakhini , which contains loanwords from Telugu and Marathi . From the 13th century until the end of the 18th century; the language now known as Urdu was called Hindi , Hindavi , Hindustani , Dehlavi , Dihlawi , Lahori , and Lashkari . The Delhi Sultanate established Persian as its official language in India,
1380-464: A very significant number among the nearly 800 districts of India, there is a small Urdu-speaking minority at least. In Araria district , Bihar, there is a plurality of Urdu speakers and near-plurality in Hyderabad district, Telangana (43.35% Telugu speakers and 43.24% Urdu speakers). Some Indian Muslim schools ( Madrasa ) teach Urdu as a first language and have their own syllabi and exams. In fact,
1472-548: Is a protected language in the constitution. It is also spoken as a minority language in Afghanistan and Bangladesh , with no official status. Urdu and Hindi share a common Sanskrit - and Prakrit -derived vocabulary base, phonology , syntax , and grammar, making them mutually intelligible during colloquial communication . While formal Urdu draws literary, political, and technical vocabulary from Persian , formal Hindi draws these aspects from Sanskrit; consequently,
1564-527: Is not officially recognised by the Government of Bangladesh . The Urdu spoken by Stranded Pakistanis in Bangladesh is different from this dialect. Many bilingual or multi-lingual Urdu speakers, being familiar with both Urdu and English, display code-switching (referred to as " Urdish ") in certain localities and between certain social groups. On 14 August 2015, the Government of Pakistan launched
1656-488: Is one variety, is spoken much more widely, forming the third most commonly spoken language in the world, after Mandarin and English . The syntax (grammar), morphology , and the core vocabulary of Urdu and Hindi are essentially identical – thus linguists usually count them as one single language, while some contend that they are considered as two different languages for socio-political reasons. Owing to interaction with other languages, Urdu has become localised wherever it
1748-593: Is read and written as in other parts of India. A number of daily newspapers and several monthly magazines in Urdu are published in these states. Dhakaiya Urdu is a dialect native to the city of Old Dhaka in Bangladesh , dating back to the Mughal era . However, its popularity, even among native speakers, has been gradually declining since the Bengali Language Movement in the 20th century. It
1840-552: Is said to have arisen as the "language of the camp", or " Zaban-i-Ordu " means " Language of High camps " or natively " Lashkari Zaban " means " Language of Army " even though term Urdu held different meanings at that time. It is recorded that Aurangzeb spoke in Hindvi, which was most likely Persianized, as there are substantial evidence that Hindvi was written in the Persian script in this period. During this time period Urdu
1932-484: Is shared, though formal Urdu makes more use of the Persian "-e-" izafat grammatical construct (as in Hammam-e-Qadimi , or Nishan-e-Haider ) than does Hindi. The following table shows the number of Urdu speakers in some countries. Strike price The strike price is a key variable in a derivatives contract between two parties. Where the contract requires delivery of the underlying instrument,
SECTION 20
#17328025725682024-729: Is spoken by large numbers of migrant South Asian workers in the major urban centres of the Persian Gulf countries. Urdu is also spoken by large numbers of immigrants and their children in the major urban centres of the United Kingdom , the United States, Canada, Germany, New Zealand, Norway, and Australia. Along with Arabic , Urdu is among the immigrant languages with the most speakers in Catalonia . Religious and social atmospheres in early nineteenth century India played
2116-492: Is spoken, including in Pakistan. Urdu in Pakistan has undergone changes and has incorporated and borrowed many words from regional languages, thus allowing speakers of the language in Pakistan to distinguish themselves more easily and giving the language a decidedly Pakistani flavor. Similarly, the Urdu spoken in India can also be distinguished into many dialects such as the Standard Urdu of Lucknow and Delhi , as well as
2208-527: Is the national language and lingua franca of Pakistan , where it is also an official language alongside English . In India , Urdu is an Eighth Schedule language , the status and cultural heritage of which are recognised by the Constitution of India ; and it also has an official status in several Indian states. In Nepal , Urdu is a registered regional dialect and in South Africa , it
2300-481: Is used in education , literature , office and court business, although in practice, English is used instead of Urdu in the higher echelons of government. Article 251(1) of the Pakistani Constitution mandates that Urdu be implemented as the sole language of government, though English continues to be the most widely used language at the higher echelons of Pakistani government. Urdu is also one of
2392-575: The Bombay , Bengal , Orissa , and Hyderabad State as well. Before independence, Muslim League leader Muhammad Ali Jinnah advocated the use of Urdu, which he used as a symbol of national cohesion in Pakistan. After the Bengali language movement and the separation of former East Pakistan , Urdu was recognised as the sole national language of Pakistan in 1973, although English and regional languages were also granted official recognition. Following
2484-671: The Central Hindi Directorate was established earlier in 1960, and the promotion of Hindi is better funded and more advanced, while the status of Urdu has been undermined by the promotion of Hindi. Private Indian organisations such as the Anjuman-e-Tariqqi Urdu, Deeni Talimi Council and Urdu Mushafiz Dasta promote the use and preservation of Urdu, with the Anjuman successfully launching a campaign that reintroduced Urdu as an official language of Bihar in
2576-687: The Dakhni ( Deccan ) of South India. Because of Urdu's similarity to Hindi , speakers of the two languages can easily understand one another if both sides refrain from using literary vocabulary. Although Urdu is widely spoken and understood throughout all of Pakistan, only 9% of Pakistan's population spoke Urdu according to the 2023 Pakistani census . Most of the nearly three million Afghan refugees of different ethnic origins (such as Pashtun , Tajik , Uzbek , Hazarvi , and Turkmen ) who stayed in Pakistan for over twenty-five years have also become fluent in Urdu. Muhajirs since 1947 have historically formed
2668-527: The Devanagari and Latin script ( Roman Urdu ) to allow its survival, or whether this will only hasten its demise and that the language can only be preserved if expressed in the Perso-Arabic script. For Pakistan, Willoughby & Aftab (2020) argued that Urdu originally had the image of a refined elite language of the Enlightenment, progress and emancipation, which contributed to the success of
2760-693: The Government of Pakistan and subsequently the bank was delisted from the Karachi Stock Exchange . On 13 June 2002, Pakistan's Privatisation Commission announced that the Government of Pakistan would grant the Aga Khan Fund for Economic Development (AKFED), a subsidiary of the Aga Khan Development Network , majority ownership of HBL against AKFED's investment in the bank. In 2002, HBL's UK operation came close to being shut down due to regulatory issues with
2852-527: The Ilm Pakistan movement, with a uniform curriculum in Urdish. Ahsan Iqbal , Federal Minister of Pakistan, said "Now the government is working on a new curriculum to provide a new medium to the students which will be the combination of both Urdu and English and will name it Urdish." Standard Urdu is often compared with Standard Hindi . Both Urdu and Hindi, which are considered standard registers of
Habib Bank Limited - Misplaced Pages Continue
2944-610: The Khariboli dialect of the Delhi region). Dakhni (also known as Dakani, Deccani, Desia, Mirgan) is spoken in Deccan region of southern India . It is distinct by its mixture of vocabulary from Marathi and Konkani , as well as some vocabulary from Arabic, Persian and Chagatai that are not found in the standard dialect of Urdu. Dakhini is widely spoken in all parts of Maharashtra , Telangana , Andhra Pradesh and Karnataka . Urdu
3036-482: The Punjabi elite of Pakistan, have adopted Urdu as a mother tongue and identify with both an Urdu speaker as well as Punjabi identity. Urdu was chosen as a symbol of unity for the new state of Pakistan in 1947, because it had already served as a lingua franca among Muslims in north and northwest British India . It is written, spoken and used in all provinces/territories of Pakistan , and together with English as
3128-399: The de jure legal status and de facto political status of Urdu, how much Urdu is used as language of instruction and chosen by students in higher education, and how the maintenance and development of Urdu is financially and institutionally supported by governments and NGOs. In India, although Urdu is not and never was used exclusively by Muslims (and Hindi never exclusively by Hindus),
3220-640: The title sponsor of the Pakistan Super League (PSL) since the league's first edition in 2016. In November 2021, the sponsorship deal was renewed for another four-year cycle until 2025. Urdu language Urdu ( / ˈ ʊər d uː / ; اُردُو , pronounced [ʊɾduː] , ALA-LC : Urdū ) is a Persianised register of the Hindustani language , an Indo-Aryan language spoken chiefly in South Asia . It
3312-547: The 18th century and two similar standard forms came into existence in Delhi and Lucknow . Since the partition of India in 1947, a third standard has arisen in the Pakistani city of Karachi . Deccani , an older form used in southern India , became a court language of the Deccan sultanates by the 16th century. Urdu has a few recognised dialects, including Dakhni , Dhakaiya , Rekhta , and Modern Vernacular Urdu (based on
3404-483: The 1950s (particularly those in East Pakistan , where Bengali was the dominant language), challenged the idea of Urdu as a national symbol and its practicality as the lingua franca . The significance of Urdu as a national symbol was downplayed by these disputes when English and Bengali were also accepted as official languages in the former East Pakistan (now Bangladesh ). Urdu is the sole national, and one of
3496-479: The 1960s, the Urdu lobby and eventually the Urdu language in Pakistan has been associated with religious Islamism and political national conservatism (and eventually the lower and lower-middle classes, alongside regional languages such as Punjabi, Sindhi, and Balochi), while English has been associated with the internationally oriented secular and progressive left (and eventually the upper and upper-middle classes). Despite governmental attempts at Urduisation of Pakistan,
3588-718: The 1970s. In the former Jammu and Kashmir state , section 145 of the Kashmir Constitution stated: "The official language of the State shall be Urdu but the English language shall unless the Legislature by law otherwise provides, continue to be used for all the official purposes of the State for which it was being used immediately before the commencement of the Constitution." Urdu became a literary language in
3680-690: The 1979 Soviet Invasion of Afghanistan and subsequent arrival of millions of Afghan refugees who have lived in Pakistan for many decades, many Afghans, including those who moved back to Afghanistan, have also become fluent in Hindi-Urdu, an occurrence aided by exposure to the Indian media, chiefly Hindi-Urdu Bollywood films and songs. There have been attempts to purge Urdu of native Prakrit and Sanskrit words, and Hindi of Persian loanwords – new vocabulary draws primarily from Persian and Arabic for Urdu and from Sanskrit for Hindi. English has exerted
3772-550: The Aga Khan Fund for Economic Development (51%), and the remaining 49% of shares are in free float. CDC Group holds 4.99%, and the International Finance Corporation holds 0.87%, while individuals, institutions, and funds hold the rest of the shares. In June 2015, the bank acquired Barclays 's Pakistan operations and absorbed the staff. On 18 April 2016, HBL received a licence to operate
Habib Bank Limited - Misplaced Pages Continue
3864-594: The Capital was relocated to Delhi and named Shahjahanabad and the Bazar of the town was named Urdu e Muallah. In the Akbar era the word Rekhta was used to describe Urdu for the first time. It was originally a Persian word that meant "to create a mixture". Amir Khusrau was the first person to use the same word for Poetry. Before the standardisation of Urdu into colonial administration, British officers often referred to
3956-521: The DFS told Karachi-listed Habib Bank (HBL) to institute a series of reforms about the bank's policies for preventing illicit money transfers. In a December 2015 statement, the DFS identified issues in the bank's anti-money laundering compliance. Habib also allegedly cleared transactions to a cybercriminal wanted by the US Federal Bureau of Investigation and a Chinese weapons manufacturer that
4048-596: The Delhi region of India the native language was Khariboli , whose earliest form is known as Old Hindi (or Hindavi). It belongs to the Western Hindi group of the Central Indo-Aryan languages. The contact of Hindu and Muslim cultures during the period of Islamic conquests in the Indian subcontinent (12th to 16th centuries) led to the development of Hindustani as a product of a composite Ganga-Jamuni tehzeeb . In cities such as Delhi,
4140-426: The English liked to use the name "Moors" for Urdu: I have a deep knowledge [ je possède à fond ] of the common tongue of India, called Moors by the English, and Ourdouzebain by the natives of the land. Several works of Sufi writers like Ashraf Jahangir Semnani used similar names for the Urdu language. Shah Abdul Qadir Raipuri was the first person who translated The Quran into Urdu. During Shahjahan's time,
4232-482: The Financial Services Authority. The problem was resolved by converting the operations to a subsidiary. Then Habib Bank Limited and Allied Bank of Pakistan merged their operations (Habib contributed its six branches and Allied its four branches) into a new bank, called Habib-Allied International Bank, in which Habib Bank has a 90.5% shareholding, while Allied Bank has 9.5%. In December 2003,
4324-592: The Government of Pakistan granted AKFED rights to 51% of the shareholding in the bank against an investment of PKR 22.409 billion (US$ 389 million). In February 2004, Government of Pakistan handed over management control of Habib Bank to AKFED. The Board of Directors was reconstituted to have four AKFED nominees, including the Chairman and the President/CEO, and three Government of Pakistan nominees. In 2013,
4416-636: The Heathens, or from the Persians, or other Nations. In 1715, a complete literary Diwan in Rekhta was written by Nawab Sadruddin Khan . An Urdu-Persian dictionary was written by Khan-i Arzu in 1751 in the reign of Ahmad Shah Bahadur . The name Urdu was first introduced by the poet Ghulam Hamadani Mushafi around 1780. As a literary language, Urdu took shape in courtly, elite settings. While Urdu retained
4508-405: The Indian government do not actively support the preservation of Urdu in professional and official spaces. Because the Pakistani government proclaimed Urdu the national language at Partition, the Indian state and some religious nationalists began in part to regard Urdu as a 'foreign' language, to be viewed with suspicion. Urdu advocates in India disagree whether it should be allowed to write Urdu in
4600-771: The Muslim League, subsequently serving as the appointed banker for the Muslim League Fund, the Pakistan Fund, and the Quaid-e-Azam Bihar Relief Fund. Relations between Jinnah and Mahomedali Habib, a key figure in the bank, were notably close. In 1937, under Mahomedali's influence, the Habib family converted from Isma'ilism to Isnasheri Shia Islam , aligning religiously more closely with Jinnah. In early 1947, at Jinnah's request,
4692-445: The absorption of vocabulary from various regional Pakistani languages, while some Urdu vocabularies has also been assimilated by Pakistan's regional languages. Some who are from a non-Urdu background now can read and write only Urdu. With such a large number of people(s) speaking Urdu, the language has acquired a peculiar Pakistani flavor further distinguishing it from the Urdu spoken by native speakers, resulting in more diversity within
SECTION 50
#17328025725684784-407: The ancient language Old Hindi began to acquire many Persian loanwords and continued to be called "Hindi" and later, also "Hindustani". An early literary tradition of Hindavi was founded by Amir Khusrau in the late 13th century. After the conquest of the Deccan , and a subsequent immigration of noble Muslim families into the south, a form of the language flourished in medieval India as
4876-494: The bank acquired Citibank Pakistan consumer business for Rs. 2 billion . In April 2015, the Government of Pakistan sold its 41.5% stake or 609 million shares in the bank for $ 1.02 billion. According to the finance ministry, the strike price of Rs. 168 per share (compared to the floor price of Rs. 166 per share) was recommended by the Privatisation Commission Board. The bank's owners now comprise
4968-556: The bank's headquarters were relocated to Karachi on August 7, 1947, just before the Partition of India . It was done to facilitate the transfer of Muslim assets to Pakistan, aiding both individual depositors and larger accounts. The bank played a crucial role in the economic framework of newly independent Pakistan. The Habib family owned and managed the bank until the Pakistan government nationalised it on 1 January 1974. The Habib family received compensation of PKR 36.31 per share from
5060-599: The court language of various Indo-Islamic empires . Religious, social, and political factors arose during the European colonial period that advocated a distinction between Urdu and Hindi, leading to the Hindi–Urdu controversy . According to 2022 estimates by Ethnologue and The World Factbook , produced by the Central Intelligence Agency (CIA), Urdu is the 10th-most widely spoken language in
5152-415: The early 21st century an increasing percentage of Indian Muslims began switching to Hindi due to socio-economic factors, such as Urdu being abandoned as the language of instruction in much of India, and having limited employment opportunities compared to Hindi, English and regional languages. The number of Urdu speakers in India fell 1.5% between 2001 and 2011 (then 5.08 million Urdu speakers), especially in
5244-406: The early retirement of Nauman K. Dar on 31 December 2017, after the bank was marred by a penalty of $ 225 Million (USD) for its non-compliance with risk management and anti-money laundering rules. In 2020, HBL was designated one of the domestic systemically important banks (D-SIB) of the year by the State Bank of Pakistan . In the 1950s, HBL started its international expansion. In 1951, it opened
5336-414: The exalted camp . Earlier it was known as Hindvi, Hindi and Hindustani . Urdu, like Hindi , is a form of Hindustani language . Some linguists have suggested that the earliest forms of Urdu evolved from the medieval (6th to 13th century) Apabhraṃśa register of the preceding Shauraseni language , a Middle Indo-Aryan language that is also the ancestor of other modern Indo-Aryan languages. In
5428-457: The fine was not larger than $ 225 million. The penalty, however, is the largest ever imposed upon a Pakistani financial institution. HBL had already agreed to surrender its licence to operate a branch in New York that had been operational since 1978. The DFS had earlier sought up to $ 630m in penalties from HBL for failing to comply with state and federal laws at its only U.S. branch. According to The Nation , compliance issues dated back to 2015 when
5520-491: The first three branches in Sri Lanka . The following year, HBL established Habib Bank (Overseas). Then, in 1956, HBL opened the first of five branches in Kenya . In September 2017, HBL agreed to pay a fine of $ 225 million in an out-of-court settlement with the New York State Department of Financial Services (DFS) against 53 separate violations allegedly committed between 2007 and 2017. Following this, HBL shares surged 5 percent, to ₨.160.58 per share, amid investor relief that
5612-412: The grammar and core Indo-Aryan vocabulary of the local Indian dialect Khariboli, it adopted the Nastaleeq writing system – which was developed as a style of Persian calligraphy. Throughout the history of the language, Urdu has been referred to by several other names: Hindi, Hindavi, Rekhta, Urdu-e-Muallah, Dakhini , Moors and Dehlavi . In 1773, the Swiss French soldier Antoine Polier notes that
SECTION 60
#17328025725685704-417: The independence movement. But after the 1947 Partition , when it was chosen as the national language of Pakistan to unite all inhabitants with one linguistic identity, it faced serious competition primarily from Bengali (spoken by 56% of the total population, mostly in East Pakistan until that attained independence in 1971 as Bangladesh ), and after 1971 from English. Both pro-independence elites that formed
5796-430: The language as " Moors " or "Moorish jargon". John Gilchrist was the first in British India to begin a systematic study on Urdu and began to use the term "Hindustani" what the majority of Europeans called "Moors", authoring the book The Strangers's East Indian Guide to the Hindoostanee or Grand Popular Language of India (improperly Called Moors) . Urdu was then promoted in colonial India by British policies to counter
5888-458: The language in the Perso-Arabic script in courts and government offices, though Hindus continued to employ the Devanagari script in certain literary and religious contexts. Through the late 19th century, people did not view Urdu and Hindi as being two distinct languages, though in urban areas, the standardised Hindustani language was increasingly being referred to as Urdu and written in the Perso-Arabic script. Urdu and English replaced Persian as
5980-518: The language of Bollywood films tend to contain a large number of Persian and Arabic words and thus considered to be "Urdu" in a sense, especially in songs. India has more than 3,000 Urdu publications, including 405 daily Urdu newspapers. Newspapers such as Neshat News Urdu , Sahara Urdu , Daily Salar , Hindustan Express , Daily Pasban , Siasat Daily , The Munsif Daily and Inqilab are published and distributed in Bangalore, Malegaon, Mysore, Hyderabad, and Mumbai . Outside South Asia, it
6072-883: The language. In India, Urdu is spoken in places where there are large Muslim minorities or cities that were bases for Muslim empires in the past. These include parts of Uttar Pradesh , Madhya Pradesh , Bihar , Telangana , Andhra Pradesh , Maharashtra ( Marathwada and Konkanis), Karnataka and cities such as Hyderabad , Lucknow , Delhi , Malerkotla , Bareilly , Meerut , Saharanpur , Muzaffarnagar , Roorkee , Deoband , Moradabad , Azamgarh , Bijnor , Najibabad , Rampur , Aligarh , Allahabad , Gorakhpur , Agra , Firozabad , Kanpur , Badaun , Bhopal , Hyderabad , Aurangabad , Bangalore , Kolkata , Mysore , Patna , Darbhanga , Gaya , Madhubani , Samastipur , Siwan , Saharsa , Supaul , Muzaffarpur , Nalanda , Munger , Bhagalpur , Araria , Gulbarga , Parbhani , Nanded , Malegaon , Bidar , Ajmer , and Ahmedabad . In
6164-497: The leadership of the Muslim League in Pakistan and the Hindu-dominated Congress Party in India had been educated in English during the British colonial period, and continued to operate in English and send their children to English-medium schools as they continued dominate both countries' post-Partition politics. Although the Anglicized elite in Pakistan has made attempts at Urduisation of education with varying degrees of success, no successful attempts were ever made to Urduise politics,
6256-466: The legal system, the army, or the economy, all of which remained solidly Anglophone. Even the regime of general Zia-ul-Haq (1977–1988), who came from a middle-class Punjabi family and initially fervently supported a rapid and complete Urduisation of Pakistani society (earning him the honorary title of the 'Patron of Urdu' in 1981), failed to make significant achievements, and by 1987 had abandoned most of his efforts in favour of pro-English policies. Since
6348-404: The main languages of instruction, although the people from differing provinces may have different native languages. Urdu is taught as a compulsory subject up to higher secondary school in both English and Urdu medium school systems, which has produced millions of second-language Urdu speakers among people whose native language is one of the other languages of Pakistan – which in turn has led to
6440-400: The majority population in the city of Karachi , however. Many newspapers are published in Urdu in Pakistan, including the Daily Jang , Nawa-i-Waqt , and Millat . No region in Pakistan uses Urdu as its mother tongue, though it is spoken as the first language of Muslim migrants (known as Muhajirs ) in Pakistan who left India after independence in 1947. Other communities, most notably
6532-409: The moneyness of options. A call option has positive monetary value at expiration when the underlying has a spot price ( S ) above the strike price ( K ). Since the option will not be exercised unless it is in-the-money, the payoff for a call option is also written as where A put option has positive monetary value at expiration when the underlying has a spot price below the strike price; it
6624-403: The most Urdu-speaking states of Uttar Pradesh (c. 8% to 5%) and Bihar (c. 11.5% to 8.5%), even though the number of Muslims in these two states grew in the same period. Although Urdu is still very prominent in early 21st-century Indian pop culture, ranging from Bollywood to social media, knowledge of the Urdu script and the publication of books in Urdu have steadily declined, while policies of
6716-564: The most alive language and moving ahead with times" in India. This phenomenon pertains to the decrease in relative and absolute numbers of native Urdu speakers as opposed to speakers of other languages; declining (advanced) knowledge of Urdu's Perso-Arabic script, Urdu vocabulary and grammar; the role of translation and transliteration of literature from and into Urdu; the shifting cultural image of Urdu and socio-economic status associated with Urdu speakers (which negatively impacts especially their employment opportunities in both countries),
6808-516: The official languages in northern parts of India in 1837. In colonial Indian Islamic schools, Muslims were taught Persian and Arabic as the languages of Indo-Islamic civilisation ; the British, in order to promote literacy among Indian Muslims and attract them to attend government schools, started to teach Urdu written in the Perso-Arabic script in these governmental educational institutions and after this time, Urdu began to be seen by Indian Muslims as
6900-578: The officially recognised languages in India and also has the status of "additional official language" in the Indian states of Andhra Pradesh , Uttar Pradesh , Bihar , Jharkhand , West Bengal , Telangana and the national capital territory Delhi . Also as one of the five official languages of Jammu and Kashmir . India established the governmental Bureau for the Promotion of Urdu in 1969, although
6992-438: The ongoing Hindi–Urdu controversy and modern cultural association of each language with the two religions has led to fewer Hindus using Urdu. In the 20th century, Indian Muslims gradually began to collectively embrace Urdu (for example, 'post-independence Muslim politics of Bihar saw a mobilisation around the Urdu language as tool of empowerment for minorities especially coming from weaker socio-economic backgrounds' ), but in
7084-428: The person who committed such an act of international terrorism". The plaintiff claimed that between 2010 and 2019, the bank had aided and abetted Al-Qaeda terrorism and had participated in a conspiracy to launch attacks in Afghanistan that killed or injured 370 people. In response, HBL released a statement claiming the accusations were "meritless" and that the bank was fiercely and thoroughly contesting them. HBL
7176-518: The position and prestige of English only grew stronger in the meantime. There are over 100 million native speakers of Urdu in India and Pakistan together: there were 50.8 million Urdu speakers in India (4.34% of the total population) as per the 2011 census; and approximately 16 million in Pakistan in 2006. There are several hundred thousand in the United Kingdom, Saudi Arabia, United States, and Bangladesh . However, Hindustani, of which Urdu
7268-484: The previous emphasis on Persian. In colonial India, "ordinary Muslims and Hindus alike spoke the same language in the United Provinces in the nineteenth century, namely Hindustani, whether called by that name or whether called Hindi, Urdu, or one of the regional dialects such as Braj or Awadhi ." Elites from Muslim communities, as well as a minority of Hindu elites, such as Munshis of Hindu origin, wrote
7360-646: The same language, Hindustani (or Hindi-Urdu), share a core vocabulary and grammar . Apart from religious associations, the differences are largely restricted to the standard forms : Standard Urdu is conventionally written in the Nastaliq style of the Persian alphabet and relies heavily on Persian and Arabic as a source for technical and literary vocabulary, whereas Standard Hindi is conventionally written in Devanāgarī and draws on Sanskrit . However, both share
7452-583: The style of Urdu spoken on a day-to-day basis in Pakistan is akin to neutral Hindustani that serves as the lingua franca of the northern Indian subcontinent. Since at least 1977, some commentators such as journalist Khushwant Singh have characterised Urdu as a "dying language", though others, such as Indian poet and writer Gulzar (who is popular in both countries and both language communities, but writes only in Urdu (script) and has difficulties reading Devanagari, so he lets others 'transcribe' his work) have disagreed with this assessment and state that Urdu "is
7544-592: The tallest building in South Asia at the time. The Government nationalised the bank in 1974 and privatised it in 2004; at that time, the Aga Khan Fund for Economic Development acquired a controlling share and management control. HBL significant shareholding lies with the Aga Khan Fund for Economic Development (AKFED) which is based in Geneva , Switzerland. HBL is the largest domestic multinational company in Pakistan in terms of assets , and has repeatedly ranked as
7636-622: The top Pakistani company in the Forbes Global 2000 . It is also Pakistan's largest private sector bank, with over 1,700 branches and more than 2,000 ATMs. All HBL ATMs are linked to Visa and Mastercard , China UnionPay , and to the domestic 1LINK , MNET , and PayPak switches. IBFT (Interbank Funds Transfer) facility and utility bill payment capability are also provided at HBL ATMs. HBL branches also exchange foreign currency, initiate SWIFT and FEDWIRE transfers, and facilitate RAAST real-time money transfer transactions. Habib Bank Limited
7728-440: The trade will be at the strike price, regardless of the market price of the underlying instrument at that time. Moneyness is the value of a financial contract if the contract settlement is financial. More specifically, it is the difference between the strike price of the option and the current trading price of its underlying security. In options trading, terms such as in-the-money , at-the-money and out-of-the-money describe
7820-618: The two languages' mutual intelligibility effectively decreases as the factor of formality increases. Urdu originated in the area of the Ganges-Yamuna Doab , though significant development occurred in the Deccan Plateau . In 1837, Urdu became an official language of the British East India Company , replacing Persian across northern India during Company rule ; Persian had until this point served as
7912-425: The two official languages of Pakistan (along with English). It is spoken and understood throughout the country, whereas the state-by-state languages (languages spoken throughout various regions) are the provincial languages , although only 7.57% of Pakistanis speak Urdu as their first language. Its official status has meant that Urdu is understood and spoken widely throughout Pakistan as a second or third language. It
8004-455: The world , with 230 million total speakers, including those who speak it as a second language . The name Urdu was first used by the poet Ghulam Hamadani Mushafi around 1780 for Hindustani language even though he himself also used Hindavi term in his poetry to define the language. Ordu means army in the Turkic languages . In late 18th century, it was known as Zaban-e-Urdu-e-Mualla زبانِ اُرْدُوئے مُعَلّٰی means language of
8096-607: Was established as a public limited company in Bombay in 1941 by the Habib family , previously engaged in internal trade and private banking . The bank's founding was influenced by the revitalization of Muslim politics by Muhammad Ali Jinnah in 1936, prompting the Habibs to challenge the existing Hindu-British dominance in the banking industry . Supported by Jinnah and the All India Muslim League , Habib Bank aided
8188-611: Was intentioned as means of unification for Muslims in Northern India and later Pakistan, it adopted a modified Perso-Arabic script. Urdu continued its role in developing a Pakistani identity as the Islamic Republic of Pakistan was established with the intent to construct a homeland for the Muslims of Colonial India. Several languages and dialects spoken throughout the regions of Pakistan produced an imminent need for
8280-574: Was named in FinCEN leak, published by Buzzfeed News and the International Consortium of Investigative Journalists (ICIJ). It had one suspicious transaction flagged. HBL got State Bank of Pakistan approval to inject Rs500mn in its wholly owned subsidiary namely HBL Asset Management Limited. In 2024, HBL announced an equity investment of 6 billion Pakistani rupees in its subsidiary HBL Microfinance Bank . HBL has also served as
8372-555: Was referred to as "Moors", which simply meant Muslim, by European writers. John Ovington wrote in 1689: The language of the Moors is different from that of the ancient original inhabitants of India but is obliged to these Gentiles for its characters. For though the Moors dialect is peculiar to themselves, yet it is destitute of Letters to express it; and therefore, in all their Writings in their Mother Tongue, they borrow their letters from
8464-544: Was subject to US sanctions. Since Habib's New York operations were used to clear dollar-denominated transactions, the bank is required to follow US "know your customer" rules and sanctions law. On 28 September 2022, a New York district court passed an order under the Justice Against Sponsors of Terrorism Act placing secondary liability on Habib Bank Limited as a party that "aids and abets, by knowingly providing substantial assistance, or who conspires with
#567432