The group started with a cloth trading business in the industrial city of Faisalabad. Late Haji Sheikh Mohammad Ibrahim, founder of the Ibrahim Group, settled in Faisalabad after partition of India in 1947 and re-established his ancestral business of cloth trading by the name of “Ibrahim Agencies”. What is known in business today as Ibrahim Group with diversified business interests from Spinning to PSF, Financial Institutions to Banking and Energy, started off as a mere cloth trading agency just half a century ago.
It was the middle of the fifties, when Sheikh Mukhtar Ahmed, present Chairman of the group, joined in this family business. It was then, that he took initiative to integrate the business vertically upwards adding up yarn trading as an additional line of business. Turning out to be a milestone in the future progress, it did not take long before the group was widely reputed and respected in marketing of cotton and blended yarns.
Backed by this goodwill and experience in marketing, in 1980, manufacturing of own blended yarn was initiated by establishment of Ibrahim Textile Mills Limited. With long term considerations and a simple principle of “no compromise on quality”two more textile spinning companies; A.A. Textiles Limited in 1982 and Zainab Textile Mills Limited in 1987 were established. Polyester Plant 1 commissioned in 1996 having an annual production capacity of 70,000 tons per annum and Polyester Plant 2 started in 2002 thus increasing the PSF production capacity to 208,600 tons per annum. A power generation Company Ibrahim Energy Limited was incorporated in 1991 to improve the efficiency of the existing manufacturing companies. All these manufacturing companies have now been merged into Ibrahim Fibres Limited.
The Group diversified into the financial services by floating First Ibrahim Modaraba and also established a leasing company; Ibrahim Leasing Limited. Subsequently First Ibrahim Modaraba was merged into Ibrahim Leasing Limited. Upon declaration of the privatization policy by Government of Pakistan, Ibrahim Group together with other leading groups participated in the bidding to acquire controlling shares of Muslim Commercial Bank Limited.
Under the scheme of reconstruction proposed by State Bank of Pakistan, Consortium of Ibrahim Leasing Limited, Ibrahim Group and its sponsors acquired more than 75% of the shareholding of Allied Bank of Pakistan Limited. Management and control of the Bank was handed over to Ibrahim Group on August 19, 2004.
The strength of the group today stands manifold with entrepreneurial skills and visionary leadership of Sheikh Mukhtar Ahmed added with fresh concepts and professional skills of Muhammad Naeem Mukhtar (CEO) who has done his MBA from the University of Wales, Cardiff, UK. and Muhammad Waseem Mukhtar (Director) who has done his Bachelor in Computer Science and Masters in Total Quality Management (TQM) from the University of Glamorgan, Wales, UK.