Cannabaceae

Federal Bank for Cooperatives
Company typeCooperative Bank
IndustryBanking, Financial services
PredecessorPunjab Provincial Cooperative Bank Limited
Founded1976; 48 years ago (1976)
DefunctApril 2014 (2014-04)
FateDissolved
Area served
Pakistan
ProductsAgricultural loans, Housing loans
ServicesFinancial services for cooperatives

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.[1]

History

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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.[1][2][3]

Legislative changes

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In 2018, the legislative body of Pakistan approved two significant pieces of legislation: one that repealed the establishment and regulation of cooperative banking, and another that repealed the bill concerning the corporation responsible for financing house building.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.[4][5]

References

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One thought on “Cannabaceae

  1. Well, that’s interesting to know that Psilotum nudum are known as whisk ferns. Psilotum nudum is the commoner species of the two. While the P. flaccidum is a rare species and is found in the tropical islands. Both the species are usually epiphytic in habit and grow upon tree ferns. These species may also be terrestrial and grow in humus or in the crevices of the rocks.
    View the detailed Guide of Psilotum nudum: Detailed Study Of Psilotum Nudum (Whisk Fern), Classification, Anatomy, Reproduction

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