BankIslami Launches “IBFT” Service for its Customers.

KARACHI, July 13, 2007. BankIslami Pakistan launches the IBFT service for all its customers on all its ATMs. BankIslami is the 1st Islamic Bank to offer this service to its customers.

IBFT or Inter Bank Fund Transfer facility enables BankIslami’s customer to send and receive funds on-line from and to any customer of 1Link IBFT participating member banks.

IBFT member banks include the following:

Allied Bank
Askari Commercial Bank
Bank Al-Habib
BankIslami Pakistan
Habib Bank
PICIC Commercial
Soneri Bank
United Bank
on Bank
Advantage of IBFT
Easy to use
Instant Transfer i.e. Online
7×24 Facility- Round the Clock
IBFT has revolutionaries funds transfers between two banks as it totally eliminates cheques and is processed on-line
Limits & Conditions
Funds transfer limit is upto Rs100,000 per day.
Funds transfer may only be in Pak Rupees
Funds transfer may only be in Pak Rupees

Per IBFT transaction Rs15 will be charged per transaction


Customer Inserts the Card
Authentication – using Biometric or PIN
Selects “Funds Transfer” from Main Menu
Select “IBFT” from Funds Transfer Menu
Select the From Account from which Funds will be transferred.
Select Bank where Funds are to be transferred
Input the Beneficiary Account Number
Input the Amount to be transfer
Verify the Beneficiary Name retrieved on-line from the Beneficiary bank
Confirm the Transaction