Dawood Bank Limited - DBL commenced operations in March 2004 after the Dawood Group entered into a joint venture agreement with the Bank of Ceylon (BOC) Pakistan operations to amalgamate the business of BOC into a banking company. The Dawood Group holds controlling stake in the bank. The Group represents one of the oldest and well-established business groups in the country, with interests spanning the financial, chemical, oil and gas, and textile sectors. The support derived from association with the Dawood Group is critical to the future prospects of the bank. While the bank is currently actively involved in money market operations, its main activities are expected to be consumer and trade related finance. The bank's CEO, with over three decades of banking experience, is building up a team of professionals to assist him in managing the operations of the bank.