The epochal idea of BankIslami was conceptualized by Jahangir Siddiqui & Company Limited and Randeree family in late 2003. Mr. Hasan A. Bilgrami was appointed as Adviser to the sponsors on March 16, 2004 to formalize the idea. He presented the concept paper of BankIslami to sponsors on March 24, 2004. A detailed business plan was then prepared and a formal application was submitted to the State Bank of Pakistan on May 26, 2004. On September 26, 2005, Dubai Bank joined the Sponsors and became one of the founding shareholders of BankIslami by investing 18.75% in the total Capital.
The State Bank of Pakistan issued a No Objection Certificate in no time on August 19, 2004 and BankIslami Pakistan Limited, the second full-fledge Islamic Commercial Bank in Pakistan, was incorporated on October 18, 2004 in Pakistan.
BankIslami Pakistan Limited was the first Bank to receive the Islamic Banking license under the Islamic Banking policy of 2003 on March 31, 2005. The Bank envisioned to focus primarily on Wealth Management as the core area of business in addition to Shariah compliant Retail Banking products, Proprietary and Third party products, and Integrated financial planning services.
BankIslami Pakistan Limited made a public offering of Rs. 400 Million, at par, from 6th to 8th March 2006. This was the first primary issue by a Bank in over a decade in Pakistan. The Initial public offering (IPO) of BankIslami received overwhelming response from the general public as the applications received were 9 times higher than offered, fetching nearly Rs. 3.5 Billion, against the demand of Rs. 400 Million.
The State Bank of Pakistan declared BankIslami Pakistan Limited as a Scheduled Bank with effect from March 17, 2006.
BankIslami started its Banking operations on 7th April 2006 with its first branch in SITE, Karachi.
By the end of 2006, the Bank had 10 branches, nine in Karachi and one in Quetta.
The Bank further concentrated in building a nationwide network and by the end of year 2007, its branch network grew to 36 branches in 23 cities.
In 2008, the Bank opened 66 new branches nationwide which expanded its network to 102 branches in 49 cites.
By the end of 2014, the Bank has achieved the target of 213 branches in 80 cities nationwide
This gave BankIslami the distinction of having the fastest expanding network in Pakistan as well as offering the widest network by any Islamic Bank.
On May 7. 2015 State Bank of Pakistan approved the amalgamation of KASB Bank with and into BankIslami. With this amalgamation all 104 branches of KASB Bank were merged into BankIslami making it the country's 11th largest banking network with 317 branches in 93 cities in a short span of 9 years.
Landmarks Passed over the years to reach new heights
Concept paper of Islamic Bank presented to Sponsors; JS Group and Randeree family
Application for the license of an Islamic Bank was submitted to SBP
BankIslami received the No Objection Certificate from SBP
BankIslami became a legal entity after SECP granted it an incorporation certificate
SBP Governor, Dr. Ishrat Hussain issued Islamic Banking license to BankIslami
Dubai Bank became founding shareholder of BankIslami by investing 18.75% in the total Capital
BankIslami share debuted on the Karachi Stock Exchange
BankIslami's three day Initial Public Offering (IPO) was initiated and got oversubscribed by 9 times
State Bank of Pakistan declared BankIslami Pakistan Limited as a Scheduled Bank
BankIslami started commercial operations from its 1st branch at SITE, Karachi
BankIslami became the First bank in Pakistan & Asia and the Second Bank in the World to install BIOMETRIC ATM
BankIslami became the First bank in Pakistan to launch Internet banking from start of operations
BankIslami's second and third branch opened simultaneously in Clifton and Korangi Industrial Area in Karachi
The Fourth branch of BankIslami located on 26th Street of Phase V, D.H.A opened its doors for customers
The official inauguration of BankIslami was conducted at the Governor House, Sindh
BankIslami's Shaheed -e- Millat branch located at Adam Arcade, BMCHS, Shaheed-e-Millat Road, Karachi starts operations
State Bank's Director of Islamic Banking, Mr. Pervez Said inaugurated the induction ceremony of the first Trainee Officers batch of BankIslami
Phone Banking services were launched by BankIslami
Sixth branch of BankIslami opened on Rashid Minhas Road, Karachi
BankIslami's North Nazimabad branch started operations. It was the 7th branch opened by the Bank
BankIslami formally inaugurated its eighth branch located in Gulshan-e-Maymar
BankIslami went nationwide with the opening of its 9th branch on Jinnah Road, Quetta. This was BankIslami's first branch outside Karachi
BankIslami opened its 10th Branch in Baqai Medical University, Karachi
BankIslami signed ORIX network for its '1 Card'
BankIslami became the first Bank in Pakistan to sign contract with Haydrian for 'XM3", a state of the art Anti Money Laundering (AML) software
BankIslami launched home financing product "MUSKUN"
BankIslami's Islamabad branch opened in Blue Area, Islamabad
Wah Cantt Branch of BankIslami was opened
Karachi Stock Exchange Branch of BankIslami was opened
BankIslami signed agreement for a state of art Shariah compliant Banking system software "iMAL" with Path solutions
Mirpur (Azad Kashmir) Branch of BankIslami was opened
BankIslami deployed its Deposit ATM machine. Based on GBNA technology, the ATM is capable of accepting 100 notes at a time
BankIslami bought JS Finance Limited, a Modaraba management company and renamed it as BankIslami Modaraba Investments Limited
BankIslami opened its branch in Lahore. This was the 15th Branch of BankIslami and its first in Lahore
16th branch of BankIslami opened in Jodia Bazar, Karachi
BankIslami completed its First Investment Banking transaction by issuing privately placed SUKUK of Rs. 1.2 Billion for PEL
17th branch of BankIslami opened in Pishin
18th branch of BankIslami opened in Sukkur
19th branch of BankIslami opened in DHA, Lahore
21st branch of BankIslami opened in Hyderabad
20th branch of BankIslami opened in Chaman
BankIslami led managed a Consortium to successfully achieved the financial close of a landmark Investment Banking deal of SSGC Sukuk of Rs. 5 Billion
22nd branch of BankIslami opened in Muslim Bagh
23rd branch of BankIslami opened in Qila Saifullah
24th branch of BankIslami opened at Cloth Market, Karachi
25th branch of BankIslami opened in Multan
26th branch of BankIslami opened at Bank Square Road, Larkana
27th branch of BankIslami opened in Faisalabad
Nine branches of BankIslami opened in different cities of Pakistan. The branch network grew to 36 branches in 23 Cities of Pakistan
BankIslami's branch network expansion plan of opening 30 branches and 32 sub branches in 2008 approved by State Bank of Pakistan
BankIslami installed the first ever ATM in an Islamic School at Darul Uloom, Karachi
37th branch of BankIslami opened at DHA, Phase IV, Karachi
BankIslami's Response to Fatwa against Islamic Banking. (Download)
BankIslami posted an operating profit of Rs. 19.210mn in 2nd quarter of 2008
BankIslami announces right issue of 23.36% subject to SECP approval.
38th branch of BankIslami opens on UP More Road, Karachi
BankIslami opens branches at Kotli, Islamgarh and Sharea-e-Faisal Road, Karachi.
BankIslami opens its sub branch in Shadman Town No.1, North Nazimabad Karachi.
Sub Branch of BankIslami opens in Khyber Bazar, Peshawar
BankIslami opened its 50th Branch today. It has been the fastest growth by any Bank in Pakistan.
BankIslami opens seven new branches nationwide.
Bankislami crosses 50 branches mark by opening its branch at Nazimabad Block A Karachi.
BankIslami opens ten Online branches this month.
BankIslami signs strategic cooperation with Pak Qatar Takaful Company for Takaful cover to BankIslami Auto Ijarah customers.
BankIslami ceates history by becoming the first bank to open 100 plus branches in less than three years and with this complete its yearly expansion plan of reaching to 102 Online branches in 49 cities nationwide.
BankIslami crosses 100,000 customer base
BankIslami sign NDA with Citibank for Auto Financing Portfolio
PACRA upgrades entity rating of BankIslami Pakistan LImited.
BankIslami witnesses phenomenal increase of 32% in Deposits and 39% increase in Customer base over the same period last year.
Successful Deployment in all branches of iMal, World's #1 Islamic Banking software
BIPL reports profit of Rs. 46.55 mn for the year ending December 31, 2011.
BankIslami signs deal for acquisition of CitiBank House Financing Portfolio
Visa Debit Cards launched
BankIslami launches BankTakaful product, a life Takaful product in collaboration with Pak Qatar Takaful Company Limited
BankIslami become the first Bank in Pakistan to launch Cardless ATM's. Cardless ATM's provides customers to use their thumb impression for accessing their accounts
BankIslami branch network is now 213 branches in 80 cites
BankIslami, in Stock Market, announced issuing of 432 million shares at par to raise its capital to Rs. 10 billion & meet Minimum Capital requirement (MCR).
State Bank of Pakistan approves the amalgamation of KASB Bank with and into BankIslami Pakistan Limited
BankIslami branch network increases to 317 branches in 93 cities making it the 11th Largest banking network in just 9 years.
Launched Print & Radio campaign of the amalgamation & smooth merger of KASB Bank with & into BankIslami.
Selected as the winner of the "Best Employer of the Year" Award in "Islamic Finance Awards 2015" organized by EmendGroup.
Religious scholar- Maulana Tariq Jameel visited BankIslami for Ramazan special Bayan.
BankIslami officially launched its presence on Social Media Platform (i.e. Facebook, LinkedIn, Twitter, Instagram, Dailymotion & YouTube) to disseminate BankIslami updates and ensure efficient and timely Customer Service through all means.
BankIslami entered into Strategic partnership with Bank of Azad & Jammu Kashmir (BAJK) for receiving Home Remittances through MoneyGram International.
BankIslami won 2nd prize in the "Best Stall" Competition of State Bank of Pakistan (SBP) Housing Finance awareness program held at Civic Centre, Hyderabad
Took active participation in the First International Conference- CEIF held at IMSciences, Peshawar & Signed MoU with IMSciences.
Awarded "Best Islamic Home Finance Award" at "Round Table Conference (RTC) - 3" held at Islamabad.
Signed an agreement with Al-Haj FAW Motors Pvt.
Signed an agreement with KFC Pakistan, to provide amazing Discount Deals to all BankIslami Visa Cardholders.
BankIslami and Bank of Azad Jammu Kashmir (BAJK) signed the Home Remittance Agreement for facilitating the transfer and disbursement of the remittances of Overseas Pakistanis in Azad Jammu Kashmir.
Signed an agreement with Subway and offered Discount Deals exclusively for BankIslami Visa Debit Card at Selected Outlets of Subway- Karachi.
Participated in Dream Home Expo 2016, organized by Jang Media Group in Islamabad from 2nd April to 4th April, 2016 at Pak China Expo Center- Islamabad.
BankIslami entered into a Strategic Alliance with Honda Pakistan & offered priority delivery & Free oil for first oil change for our Valued BankIslami customers.
BankIslami was awarded with Service Excellence Award by MoneyGram International.
BankIslami has signed a Memorandum of Understanding (MoU) with Premier Systems (Pvt) Ltd, Audi´s general importer in Pakistan (Audi Pakistan); Pakistan´s No. 1 luxury premium automobile brand.
BankIslami held "Strategic Business Development" Seminar at Karachi, Lahore, Islamabad, Multan & Quetta.
BankIslami received a Memento from 1Link for its contribution towards Pakistan's First Domestic Payment Scheme -PayPak.
Signed an agreement with Akhuwat Foundation, an Interest free Micro-finance NGO.
Launched First ever 360 degree Media Campaign on TV, Radio, Print, OOH & Digital Marketing during Ramazan.
Launched First ever TV Commercial across 17 Leading TV Channels during Ramazan.
Sept 2016- Launched its first ever mobile application named as "mBankIslami" providing an access to convenient,secure and personalized service at fingertips.Customers can avail this facility by downloading it from App store (if iPhone user) and Google play-store ( if android user).
BankIslami Pakistan Limited receives a Runner-Up Award for the "Transaction of the Year" at the 13th CFA Annual Excellence Award Ceremony held in Karachi.
The vision of bank islami is to be recognized as the leading Authentic Islamic Bank.
The Mission of BankIslami is to create value for our stakeholders by offering Authentic, Shariah Compliant and technologically advanced product and services. We differentiate ourselves through:
Understanding our client's needs
Commitment to excellence, and
Fast, efficient and seamless delivery of solution. As a growing institution, the foundation for our performance lies on our human capital and BankIslami remains committed to becoming an employer of choice, attracting, nurturing and developing talent in a transparent and performance driven culture.
Our Core Values
BankIslami is strongly committed towards its core values of:
Showing growth year after year...
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