- Karachi, Feb 22 2018
Banklslami extends Strategic Alliance with AL-HAJ FAW Motors
Karachi, Feb. 22, 2018: Banklslami Pakistan Limited and AL-HAJ FAW Motors Private Limited have extended their agreement for the year 2018. With the successful completion of Two years of Alliance, both Banklslami and Al-Haj FAW have re-affirmed to mutually serve the Automobile Industry of Pakistan.
The agreement was signed by Mr. Yasser Abbas, Head- Islami Auto Finance, Banklslami and Mr. Farhan Hafiz, Head of Marketing Division, AL-HAJ FAW Motors Private Limited.
Speaking on the occasion, Mr. Yasser Abbas said "Fulfilling customers' vehicle requirements by offering valuable FAW products coupled with Shariah compliant Auto financing solutions is the primary objective of this Alliance. Based on the success of our 2 years contract since Feb 2016, we feel that this extension is a milestone for both the organizations and for the customers."
Mr. Farhan Hafiz added: "This initiative has created an ideal scenario for both Banklslami and AL-HAJ FAW Motors Private Limited. Via this alliance, we aim to strengthen our customer relations by providing FAW vehicles at the best possible financial package offered by Banklslami's Islami Auto Finance".
Mr. Yasser Abbas, Head- Islami Auto Finance- Banklslami Pakistan Limited and Mr. Farhan Hafiz, Head of Marketing Division, AL-HAJ FAW Motors Private Limited on the occasion of Signing Ceremony.
- Lahore, 13 Feb 2018
BankIslami extends Strategic Alliance with Honda Atlas Cars (Pakistan) Limited in 2018
Lahore, Feb. 13, 2018: BankIslami Pakistan Limited and Honda Atlas Cars (Pakistan) Limited (HACPL) have extended their agreement for the year 2018. 2017 had been a positive year for both the organizations and with the successful completion of Two years of Alliance, both BankIslami and Honda Atlas Cars (Pakistan) Limited have re-affirmed to mutually serve the Automobile Industry of Pakistan.
Fulfilling customers' vehicle requirements by offering valuable Honda products coupled with Shariah compliant Auto financing solutions is the primary objective of this Alliance. The agreement was signed by Mr. Hironobu Yoshimura, President/ CEO- Honda Atlas Cars (Pakistan) Limited and Mr. Yasser Abbas, Head- Islami Auto Finance, BankIslami.
Mr. Hironobu Yoshimura added: "This initiative has created an ideal scenario for both BankIslami and Honda Atlas Cars (Pakistan) Limited. Via this alliance, we aim to strengthen our customer relations by providing best Honda vehicles at the best possible financial package offered by BankIslami's Islami Auto Finance".
Speaking on the occasion, Mr. Yasser Abbas said "Based on the success of our 2 years contract since April, 2016, we feel that this extension is a milestone for both the organizations and for the customers. With extension of this alliance, Driving the Dream Honda vehicle has been made Affordable via most Attractive Rates offered by BankIslami's Islami Auto Finance."
This partnership was agreed upon in a meeting held at Head Office, Honda- Lahore on Feb. 13th, 2018 and was also attended by Mr. Maqsood-ur-Rehman Rehmani, Vice President, HR & Admin - Honda Atlas Cars (Pakistan) Limited, Mr. Amir Nazir, GM-Sales & Marketing - Honda Atlas Cars (Pakistan) Limited, Syed Jibran Ali, Section Head- Islami Auto Finance, BankIslami and Syed Ali Naqi, Hub Sales Manager- Islami Auto Finance, BankIslami.
Mr. Amir Nazir, GM-Sales & Marketing - Honda Atlas Cars (Pakistan) Limited, Mr. Maqsood-ur-Rehman Rehmani, Vice President, HR & Admin- Honda Atlas Cars (Pakistan) Limited, Mr. Hironobu Yoshimura, President / CEO- Honda Atlas Cars (Pakistan) Limited, Mr. Yasser Abbas, Head- Islami Auto Finance, BankIslami Pakistan Limited and Mr. Syed Jibran Ali, Section Head- Islami Auto Finance, BankIslami Pakistan Limited on the occasion of Signing Ceremony (from Left to Right)
- Karachi, Oct 04 2017
BankIslami Pakistan Signs Agreement with Jubilee Family Takaful To Launch New Bancatakaful Products
Karachi - October 4, 2017 : BankIslami Pakistan signed an agreement with Jubilee Family Takaful to Launch Bancatakaful Products, Health Shield & Critical Illness plan. These products are one of it's kind to be launched in the Banking sector. BankIslami will fulfill customer's Health and Critical illnesses Takaful needs through its nationwide branch network of over 320 branches in 105 cities.
The agreement was signed by Mr. Hasan A. Bilgrami -CEO BankIslami Pakistan and Mr. Javed Ahmed - CEO Jubilee Life Insurance. Mr. Hasan A.Bilgrami speaking on the occasion said, "We are pleased to be the first Islamic Bank to launch Health cover(Natural & Accidental) in partnership with Jubilee Family Takaful. We will continue to introduce new products to enhance our Shariah compliant product suite ".
Mr. Javed Ahmed, CEO of Jubilee Life Insurance commented, “Jubilee Life Insurance welcomes BankIslami as our new BancaTakaful Partner and this partnership is surely going to further enhance Takaful awareness in the country”
- Karachi, 22 Aug 2017
BankIslami Pakistan Signs Agreement with 1LINK To Launch PayPak Debit Card
Karachi - Aug 22, 2017 : BankIslami Pakistan signed an agreement with 1LINK (Guarantee) Limited to issue PayPak Debit Cards(PayPak is Pakistan’s first domestic payment scheme) With the issuance of PayPak cards, BankIslami aims promote domestic payment scheme through its nationwide branch network of over 320 branches in 105 cities.
This agreement is a step forward in promoting financial digitalization in Pakistan in line with State Bank of Pakistan’s National Financial Inclusion Strategy 2020.
The agreement was signed by Mr. Hasan A. Bilgrami -CEO BankIslami Pakistan and Mr. Najeeb Agrawalla - CEO 1LINK. Mr. Hasan A.Bilgrami speaking on the occasion said, "Setting the tone for innovation in Pakistan's Banking industry becoming the first Bank to launch Biometric ATMs in 2006; we are pleased to be among the first batch of PayPak initiative of 1LINK in promoting domestic payment scheme. We are committed to further innovate new product offerings for our valued customers".
Mr. Najeeb Agrawalla, CEO of 1LINK commented, “1LINK welcomes BankIslami’s initiative of issuing PayPak Debit Cards and this partnership is surely going to enhance digital transactions in the country”.
1LINK (Guarantee) Limited, owned by a consortium of 11 banks, is the country’s 1st PSO/PSP and largest switch and payment system, providing a host of valuable online banking services like ATM switching, Bills Payment, Inter Bank Funds Transfer, Fraud Risk Management, Switch Dispute Resolution, Global Payment Schemes, PayPak - Domestic Payment Scheme, etc. 1LINK is continuously evolving and adding new products and services to benefit the financial industry.
BankIslami Pakistan Limited was the first Bank to receive the Islamic Banking license under the State Bank of Pakistan's Islamic Banking policy of 2003. 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 is currently operating with over 320 branches in 105 cities.
- Karachi, 25th May 2017
BankIslami extends Strategic Alliance with Premier Systems (Pvt) Ltd, Audi Pakistan.
Karachi ,May 25, 2017 : BankIslami Pakistan Limited has extended their agreement, for the year 2017, with Premier System (Pvt) Ltd. (Audi Pakistan); Pakistan's No. 1 luxury premium automobile brand. With the successful completion of One year of Alliance, both BankIslami and Audi Pakistan have re-pledged to mutually serve the Automobile Industry of Pakistan and provide tailor-made financing packages to Audi customers across the country through the flagship product of Islami Auto Finance. The agreement was signed by Mr.Yasser Abbas, Head-Islami Auto Finance, BankIslami and Mr. Muhammad Yasin Khan, Chief Financial Officer, Premier Systems (Pvt) Ltd. Speaking on the occasion, Mr. Yasser Abbas said “Based on the success of our initial agreement executed in May 2016, we feel that this extension is a milestone for both the organizations and for the customers, who will be able to Drive their Dream Car, the most Convenient way via BankIslami's Islami Auto Finance.” Mr. Muhammad Yasin Khan added: This initiative has created an ideal scenario for both BankIslami and Audi Pakistan. With extension of the alliance, we aim to strengthen our customer relations by providing the best Audi vehicles at the best possible financial package offered by BankIslami's Islami Auto Finance.
Picture Caption: Mr. Yasser Abbas, Head- Islami Auto Finance, BankIslami Pakistan Limited and Mr. Yasin Khan, Chief Financial Officer, Premier Systems (Pvt) Ltd. shaking hands on the occasion of Signing Ceremony.
- Lahore, 18th March 2017
BankIslami extends Strategic Alliance with Honda Atlas Cars (Pakistan) Limited
BankIslami Pakistan Limited and Honda Atlas Cars (Pakistan) Limited have extended their agreement for the year 2017. With the successful completion of One year of Alliance, both BankIslami and Honda Atlas Cars (Pakistan) Limited have re-pledged to mutually serve the Automobile Industry of Pakistan and fulfill customers vehicle requirements by offering valuable Honda products coupled with Shariah compliant Auto financing solutions. Moreover, this alliance will provide attractively priced Honda vehicles through Islami Auto Finance under market competitive terms and conditions.
The agreement was signed by Mr. Yasser Abbas, Head- Islami Auto Finance, BankIslami and Mr. Nadeem Azam, General Manager- Sales & Marketing, Honda Atlas Cars (Pakistan) Limited.
Speaking on the occasion, Mr. Yasser Abbas said "Based on the success of our initial agreement executed in April, 2016, we feel that this extension is a milestone for both the organizations and for the customers, who will be able to Drive their Dream Car, the most Convenient way via BankIslamis Islami Auto Finance."
Mr. Nadeem Azam added: "This initiative has created an ideal scenario for both BankIslami and Honda Atlas Cars (Pakistan) Limited. With extension of the alliance, we aim to strengthen our customer relations by providing best Honda vehicles at the best possible financial package offered by BankIslamis Islami Auto Finance"
Mr. Yasser Abbas, Head- Islami Auto Finance, BankIslami Pakistan Limited and Mr. Nadeem Azam, General Manager- Sales & Marketing, Honda Atlas Cars (Pakistan) Limited on the occasion of Signing Ceremony.
- Karachi, 15th February 2017
BankIslami extends Strategic Alliance with AL-HAJ FAW Motors
BankIslami Pakistan Limited & AL-HAJ FAW Motors Pvt. Limited has extended their agreement for the year 2017. As a result, both BankIslami & FAW motors agreed to mutually serve the Automobile Industry and fulfill customers' vehicle requirements. Moreover, this alliance will be providing attractively priced quality vehicles and their financing facility at competitive terms and conditions. This alliance will further increase the sales of FAW vehicles through interesting features of BankIslami's Islami Auto Finance facilities.
The agreement was signed between Mr. Farhan Hafiz, Head of Marketing Division, AL-HAJ FAW Motors Private Limited and Mr. Yasser Abbas, Head- Islami Auto Finance, in the presence of a number of BankIslami and FAW Motors officials. Speaking on the occasion, Mr. Farhan said: "We are delighted to extend our liaison with one of the leading Islamic Banks of Pakistan. With this alliance, we intend to serve the growing customer base of Auto Financing Industry of Pakistan with High Quality FAW vehicles."
Mr. Yasser Abbas, Head - Islami Auto Finance added: "Based on the success of our initial agreement executed in 2016, we feel that this extension is a milestone for both the organizations and for the customers, who will be able to Drive their Dream Car, the most Convenient way via BankIslami's Islami Auto Finance."
Mr. Yasser Abbas, Head- Islami Auto Finance- BankIslami Pakistan Limited and Mr. Farhan Hafiz, Head of Marketing Division, AL-HAJ FAW Motors Private Limited on the occasion of Signing Ceremony.
- Karachi, 7th February 2017
BankIslami Signs Strategic Alliance with CompareOn Pakistan
|BankIslami Pakistan Limited & CompareOn Pakistan, a fintech startup which offers comprehensive, free and neutral overviews of consumer banking facilities through their online platform www.KarloCompare.com.pk have signed a strategic alliance that will further enhance BankIslami's reach, improve its efficiency and support its regular sales operations. BankIslami is proud to be a pioneer of technological innovations in the Banking Industry of Pakistan, by entering into this strategic Alliance with CompareOn Pakistan; an online comparison platform Karlocompare.com.pk, which delivers product information at a few clicks and will enable customers to apply without the need of visiting or calling BankIslami branches. The agreement was signed by Mr. Sumair Farooqui, Founder & CEO- CompareOn Pakistan Private Limited and Mr. Yasser Abbas, Head- Islami Auto Finance, in the presence of a number of senior BankIslami and CompareOn Pakistan officials. Speaking on the occasion, Mr. Sumair Farooqui, said: "We are delighted to join hands with one of the leading Islamic Banks of Pakistan. With this alliance, we intend to serve the growing customer base of Auto Financing Industry of Pakistan, contribute to enhancing awareness around BankIslami's products and services and deliver convenience to our consumers. Mr. Yasser Abbas, Head - Islami Auto Finance added: "Being innovative is need of the hour and BankIslami is proud to be a part of this Digital channel, Karlocompare.com.pk, which will serve our new and existing customer base in a more efficient manner."|
Mr. Yasser Abbas, Head- Islami Auto Finance- BankIslami Pakistan Limited and Mr. Sumair Farooqui, Founder & CEO- CompareOn Pakistan Private Limited signing Agreement on the occasion of Signing Ceremony.
- Karachi, 25th January 2017
BankIslami Signs Strategic Alliance with Lootlo.pk
Mr. Muhammad Amjad Khan-Head ADC BankIslami and Mr Fahad-C.EO & Director Lootlo.pk, shaking hands on the occasion of Signing Ceremony.
- Karachi, 30th November 2016
BankIslami Signs Strategic Alliance with Mastercard
BankIslami Signs Strategic Alliance with Mastercard (Sitting From Left to Right): Mr.Aurangzaib Khan, Mr.Saad Khan & Mr.Khalid Elgibali from MasterCard, Mr.Hasan A. Bilgrami,Mr.Amjad Khan & Mr.Sohail Sikandar from BankIslami Pakistan.
- Karachi, 07th November 2016
BankIslami posts pre-tax profit of PKR 1,006 Million
BankIslami signs Strategic Alliance with Ria Money Transfer
- Karachi, 20th October 2016
BankIslami posts pre-tax profit of PKR 1,006 Million
- Karachi, 29th August 2016
BankIslami posts pre-tax profit of PKR 635.2 Million
BankIslami Pakistan Limited delivered strong results by posting profit before tax of Rs. 635.2 million for the Half year ended on June 30, 2016. The Bank recorded an increase of 5.15% in Deposits which crossed Rs. 148.6 billion. Asset base was noted at Rs. 185 billion denoting an increase of 4.55%. Second quarter marked completion of 10 years of commercial operations on April 7th, 2016. From being the smallest Bank in 2006, it has now become the 11th largest Bank with 317 branches in 93 Cities of Pakistan.
"The bottom line of the Bank has improved to Rs. 359 mn as compared to Rs. 63 mn same period. Going forward, we expect to improve upon our operating results by fully realizing the opportunities provided in all facets of the banking business. We are also optimistic about the future growth of the balance sheet of the Bank through newly opened branches", Mr. Hasan A.Bilgrami, CEO- BankIslami.
- Karachi, 31st May, 2016
BankIslami signs Strategic Alliance with Akhuwat
- Karachi, May 09, 2016
BankIslami Pakistan signs MoU with Audi Pakistan (Premier Systems)
|BankIslami Pakistan 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. Under the MoU, BankIslami will provide tailor-made financing packages to Audi customers across the country through its flagship product of Islami Auto Ijarah. This agreement will enable both Audi Pakistan and BankIslami Pakistan to leverage on the inherent strengths of each other's vast network. MoU was signed by Mr. Muhammad Yasin Khan, Chief Financial Officer, Premier Systems (Pvt) Ltd. and Mr. Yasser Abbas, Section Head Auto Ijarah, BankIslami. Speaking on the occasion, Mr. Muhammad Yasin Khan said: It is a moment of great pride for Audi Pakistan to be associated with a Bank of the stature & heritage. This MoU is part of a strategy Audi Pakistan is implementing to offer tailor-made financing solutions for its customers through BankIslami. Mr. Yasser Abbas of BankIslami, added: "This symbolic relationship will help to leverage BankIslami's and Audi Pakistan strengths, thus opening up new avenues".|
- Lahore, April 13, 2016
Strategic Alliance of BankIslami Pakistan Limited & Honda Pakistan
From the business point of view, it's a step towards strengthening our customer relations, and the consumer gets the best Honda products on the best possible financial package." Mr. Maqsood Rehmani Vice President, Mr. M. Afzal Senior Manager Sales & Marketing and Mr. Shahzad Wahla Deputy Manager Sales & Marketing from HACPL and Syed Jibran Ali Unit Head Auto Ijarah, Mr. Hafiz Shabir HSM Central Region and Mr. Rizwan Haider TL Retail Central from BankIslami were also present
- Karachi, April 08, 2016
BankIslami- Pioneer of Cardless Biometric ATM in Pakistan
- Karachi, February 15, 2016
Strategic Alliance of BankIslami Pakistan Limited & FAW Motors
BankIslami Pakistan Limited & FAW Motors inks strategic alliance. Seen in the picture is Mr. Yasser Abbas from BankIslami and Mr. Farhan Hafiz from FAW Motors.
- Karachi, February 09, 2016
BankIslami Pakistan join hands with KFC Pakistan
Karachi Tuesday 9th February 2016: BankIslami join hands with KFC Pakistan. Seen in the picture is Mr. Hasan A. Bilgrami CEO BankIslami & Mr. Raza Pirbhai CEO KFC Pakistan on the occasion.
- February 01, 2016, BankIslami Pakistan Limited has been awarded "Best Islamic Home Finance Award" at "Round Table Conference (RTC) – 3" held in Islamabad, yesterday, Feb. 1, 2016. The event “Best Islamic Banking Awards & RTC-3” was organized by Pakistan Observer & was graced by Mr. Mamnoon Hussain, President of Pakistan.
BankIslami won 'Best Islamic Home Financing Award' in RTC-3
- Karachi, November 30,2015
BankIslami Clarification on Media Program
- Karachi, October 7,2015
Facts are different than What You are Told - Urdu
- Karachi, September 30,2015
Still Counting , Public Notice - Urdu
- Karachi, September 18,2015
Clarification on Television Program (Letter to Karachi Stock Exchange)
- Karachi, June 11,2015
BankIslami starts Islamic Banking Training program for Senior Ex- KASB Staff
Mr.Yavar Moni Director State Bank inaugurating Training Program for Senior Ex- KASB staff at BankIslami Head Office.
- Karachi, May 21,2015
BankIslami starts Internal Hiring Program for Former KASB Staff
BankIslami's Management during the launch of Internal Hiring Program for Ex-KASB Staff.
- Karachi, May 8,2015
BankIslami takes control of operations of formerly KASB Bank
|Karachi May8, 2015: BankIslami announced today that it has taken full operational control of former KASB Bank Limited which stands amalgamated with BankIslami Pakistan Limited. All 104 Branches of former KASB Bank opened today and transacted all types of normal business. All the cheques that were presented were cleared including same day clearing. The change of signage and branch branding was also completed in almost all the branches across the network The Bank further said that it has setup a dedicated call center to assist customers who may face any problems in operating their accounts; though not a single complaint was received.|
- Karachi, May 7,2015
BankIslami Pakistan Limited pledges full payment to the depositors of KASB Bank after taking it over
|Karachi May 7, 2015. : BankIslami is pleased to announce that KASB Bank Limited stands merged into it. As a result, all branches of formerly KASB Bank Limited will open as branches of BankIslami Pakistan Limited on Friday May 08 and all customers of formerly KASB Bank Limited shall be customers of BankIslami. They are free to operate their account without any restriction whatsoever. The business of formerly KASB Bank will be converted into Islamic modes of financing, under the guidance of the Sharia'h Board of BIPL, chaired by Mufti Irshad Ahmed Ijaz within an agreed time frame. Starting as the smallest Bank in 2006, BankIslami is now the 11th largest banking net work in the country with 317 branches in 93 cities nation wide. The Equity of the Bank as on April 30, 2015 was Rs. 9.95B, which is expected to increase to Rs. 11.40 billion following completion of the rights offering by mid May. The Capital Adequacy Ratio of the Bank was 23% as against prescribed 10% by State Bank of Pakistan. Currently, BankIslami is operating with 213 branches and sub branches in 80 cities. With the merger of KASB Bank, BankIslami's branch network will reach 317 branches in 93 cities nationwide. In terms of branch network, BankIslami has now become the 11th largest banking net work in the country with more than 600,000 customers. To facilitate the customers of formerly KASB Bank Limited, all branches of the Bank shall remain open till 7.00 p.m. on Friday May 08, 2015 and will follow regular business hours thereafter. BankIslam would like to assure all depositors that they can withdraw their money without any hassle and restriction whatsoever and look forward to their continued patronage.|
- Karachi, January 1,2015
BankIslami issuing 432 million shares to meet MCR
|Karachi January 1,2015: BankIslami Pakistan Limited, has announced in the stock market that it is issuing 432 million shares at par to raise its capital to Rs. 10 billion. With this offering, the Bank shall become second Islamic bank to meet the capital requirement of State Bank of Pakistan. As per financial results of the banking industry as at September 30, 2014, BankIslami commands the second largest market shares in terms of deposits, assets and branch network which consists of 213 branches in 80 cities nationwide. It is planning to add another 24 branches in 2015|
- Karachi, December 3,2014
BankIslami to increase its capitalization
|Karachi December 2, 2014: BankIslami Pakistan Limited has announced in the stock market that it will issue right shares, subject to permission from SECP, of Rs. 4.33 billion as per plan agreed with the State Bank of Pakistan to raise its capital to Rs. 10 billion. BankIslami has the second largest market share in the rapidly growing Islamic finance segment of the banking industry with 201 branches in 77 cities across Pakistan. It is planning to open 12 new branches before end of the year and another 24 next year|
- Karachi, March 4,2014
BankIslami launches Pakistan's First Cardless ATM Service
BankIslami Pakistan Limited launched Pakistan's first Cardless ATM service. Customers can use this facility with just a single thumb impression. This service is secure and is also convenient to use for customers in both urban & rural areas of Pakistan.
BankIslami launched first Biometric enabled ATM in 2006. Being the pioneer of Biometric enabled ATM network in Pakistan, BankIslami has made Cardless service available at selected ATMs in December 2012, The service has now been made available across its nationwide network of 201 branches in 77 cities.
- Karachi, March 4,2014
BankIslami launches Pakistan's First Cardless ATM Service
- Karachi, January 23, 2014
BankIslami launches Pakistan's First Energy Efficient ATM
BankIslami Pakistan Limited launched Pakistan's first energy efficient ATM. The ATM uses 100 Watts of electricity as against the conventional ATM that uses up to 200 Watts of running power. The move marks a completely un-orthodox approach to the energy problem faced by the banks in Pakistan. It comes on the heals of complete transformation of computing on Thin Clients in serverless branches, a feat most of the European and North American banks have not been able to achieve.
BankIslami is the second largest Islamic Bank in Pakistan with both in terms of size and network with 201 Branches and sub-branches in more than 75 cities.
- Karachi, January 23, 2014
BankIslami launches Pakistan's First Energy Efficient ATM
|BankIslami Pakistan Limited launched Pakistan's first energy efficient ATM. The ATM uses 100 Watts of electricity as against the conventional ATM that uses up to 200 Watts of running power. The move marks a completely un-orthodox approach to the energy problem faced by the banks in Pakistan. It comes on the heals of complete transformation of computing on Thin Clients in serverless branches, a feat most of the European and North American banks have not been able to achieve. BankIslami is the second largest Islamic Bank in Pakistan with both in terms of size and network with 201 Branches and sub-branches in more than 75 cities.|
- Karachi, September 03, 2012
BankIslami wipes off all its accumulated losses
|Karachi, September 03, 2012: BankIslami Pakistan Limited announced its half yearly results today by reporting a profit after tax of Rs. 229 million. The Bank continued its upward trajectory by registering a growth of 22.6% in deposits, 21.6% in assets and 80.1% increase in earning per share. The Bank also commenced its network expansion after 3 years of consolidation with a target to take the network to 200 by end of 2013. The significant feature of this impressive financial performance is BankIslami becoming the first start-up Bank to clear all its accumulated losses. When in beginning 2003, State Bank started issuing new commercial banking licenses and allowing conversion of foreign banking operations into local Banks atleast 10 new Banks came to the market with four on the Islamic side. What is impressive about BankIslami's performance is that it has not only become the first start-up to clear all its accumulated losses but also went on to build one of the largest networks among these start-ups comprising of more than 110 branches covering 54 cities in Pakistan. Commenting on the results, the CEO of BankIslami, Mr. Hasan A Bilgrami said: We are obviously pleased with our performance and look to the future with greater optimism. Specifically, we would like to be one of the top ten Banking networks in the next few years significantly increasing our market share in the Islamic Banking segment and Banking industry on the whole.|
- 9th March 2012
BankIslami earns profit of PKR 608.5 Million
|BankIslami Pakistan Limited delivered strong results by posting profit before tax of Rs 608.5 million for the year 2011 as against Rs.44.50 million in 2010. The Bank also recorded an increase of 32.4% in Deposits which crossed Rs. 50 billion. Asset base was noted at Rs. 58.8 billion denoting an increase of 30.6%. In the last three years the Bank has grown by more than 300% making it one of the fastest growing banks in Pakistan. BankIslami is the second largest Islamic Bank in the country with 102 branches in 49 cities which is the 16th largest network in the country. These impressive results were reported without any network expansion. Speaking on the occasion the CEO of the Bank, Mr. Hasan A Bilgrami noted that the Bank is all set to commence the second wave of network expansion with a target to cross 200 branch mark in next three years. BankIslami is eying to increase its market share in the rapidly growing Islamic banking market with a target to cross Rs. 100 billion in next two years.|
- 27 December 2010
BankIslami signs deal for acquisition of CitiBank House Financing Portfolio
- 12 October 2010
BankIslami acquires Citibank House Financing portfolio
- 27th August 2010
MJSF Foundation (Mahvash and Jahangir Siddiqui Foundation) set up mobile health services for flood victims in Qmbar, Ratodero and Naudero Sindh
- 19th August 2010
MJSF Foundation (Mahvash and Jahangir Siddiqui Foundation) distributes food and essential items to flood victims in Kundian, Kohistan
- 18th January 2010
BankIslami signs MOU with Emirates Global Islamic Bank for Due diligence
- 4th Nov 2009
BankIslami crosses 100,000 customer base
- Sep 2009
BankIslami looking to acquire another bank
- 5th August 2009
Report of BankIslami acquisition of Citibank Mortgage Portfolio
- 31st July 2009
BankIslami sign NDA with Citibank for Auto Financing Portfolio
- 31st December 2008
BankIslami Creates History by setting up 102 Branches in just over two years
- 18 October 2008
Sub Branch of BankIslami opens in Khyber Bazar, Peshawar.
- 17 October 2008
BankIslami opens its sub branch in Shadman Town No.1, North Nazimabad Karachi.
- 26 September 2008
BankIslami opens branches at Kotli, Islamgarh and Sharea-e-Faisal Road, Karachi.
- 12 September 2008
38th branch of BankIslami opens on UP More Road, Karachi.
- 29 August 2008
BankIslami's Response to Fatwa against Islamic Banking. (Download)
- 27 August 2008
BankIslami posted an operating profit of Rs. 19.210mn in 2nd quarter of 2008.
The 6-months results of 2008 posted by BankIslami showed a deposit growth of 171% to Rs.11.35 Billion, Financing growth of 146% to Rs. 5.39 Billion and Assets growth of 112% to Rs. 16.58 Billion by June 2008 as compared to June 2007. The paid up capital of the Bank would be raised to Rs. 5.28 Billion as the Bank announced a rights issue of 23.26% or Rs.1 Billion. The Bank reported a loss of Rs. 9.92 Million for the six months however for the quarter the Bank posted its first operating profit of Rs. 19.21 Million. The Bank aims to reach 20 more cities through its network of 66 more branches by December 2008.
- 27 August 2008
BankIslami announces right issue of 23.36% subject to SECP approval.
- 22 August 2008
37th branch of BankIslami opens in D.H.A. Phase IV Branch, Karachi
- 17 July 2008
PACRA reaffirms rating of BankIslami
- 23 April 2008
BankIslami lead manages privately placed PEL sukuk of Rs. 1.1.Billion
- 18 April 2008
BankIslami's Shariah Board Chairman Mufti Muhammad Taqi Usmani approves the Shariah compliance review of the Bank
- 12 April 2008
BankIslami now launches MUSKUN Home Financing and Islami Auto Ijarah in Lahore,Rawalpindi and Islamabad
|KSaturday 12th April 2007: In line with its commitment to offer Islamic Banking products & services to its consumers, BankIslami has launched MUSKUN Home Financing and Islami Auto Ijarah in Lahore, Rawalpindi and Islamabad. This was announced here on Saturday. With MUSKUN Home Financing customers can choose from the product line such as Build, Buy, Renovate and Balance Transfer Facility (BTF from interest based bank). Islami Auto Ijarah caters to the market segment vying for products like new, used and imported cars in Sharia'h compliant way. BankIslami is represented by renowned Shariah Board headed by Mufti Muhammad Taqi Usmani. BankIslami is pursuing its aggressive growth strategy which includes penetration in the rural and urban areas and committed to introducing value added innovative products for both corporate and consumer banking sector. Currently, BankIslami is operating with 36 Online branches in 23 cities nationwide and has a plan to reach 100 branches milestone by December 2008.|
- 29 March 2008
BankIslami to become a 100 Online Branch Network Bank by December 2008
- 10 December 2007
BankIslami led Consortium successfully achieved the financial close Rs. 5 Billion Sukuk for SSGC
|Karachi (Dec 10, 2007) BankIslami led consortium successfully achieved the financial close of Rs. 5 Billion Sukuk for Sui Southern Gas Company Limtied based on diminishing musharakah.The financial close will provide a strong impetus to the rapidly developing Sukuk market in Pakistan. With an instrument rating of "AA" assigned by PACRA Credit Rating Agency, the issue has been well received in the market and has been over subscribed. With this transaction BankIslami has lead managed Sukuk transactions worth more than Rs. 10 billion in the last quarter of 2007.|
- 26 November 2007
BankIslami issues Rs. 750 million SUKUK for New Allied Electronics Limited.
- 10 October 2007
BankIslami issues Rs. 650 million SUKUK for Amtex Limited
|Karachi (Nov 26, 2007) BankIslami today successfully completed private placement of SUKUK worth Rs. 750 million for New Allied Electronics Pvt. Ltd. It is the largest producer of television sets in Pakistan and is the sole distributor of LG products in Pakistan. It has been structured under the Diminishing Musharakah mode. BankIslami and PakBrunei are the lead advisors and lead arrangers to the issue. With an instrument rating “A” assigned by JCR -VIS Credit Rating Agency, the issue has been well received in the market and has been over subscribed. With this transaction BankIslami has lead managed SUKUK transactions worth Rs. 5 billion in the last quarter of 2007. The Bank has emerged as a leading player in Islamic Banking industry of Pakistan with 36 online branches spread all over the country by December 2007. BankIslami provides a full range of Shariah compliant products and services catering to all the market segments. The Shariah Board of the Bank is headed by Justice (R) Taqi Usmani and consists of Dr. Fazal-ur-Rehman and Mufti Irshad Ahmed Aijaz.|
- 26 September 2007
BankIslami in a seminar organized by ICAP on Islamic Sukuk
|Karachi (Sept 26, 2007) BankIslami in a seminar organized by the Institute to Chartered Accountants of Pakistan on Islamic Sukuk covered the concepts and application of Islamic Sukuk in the globalized world. It pointed out the global popularity of Islamic Sukuk especially in the Middle East and the fast growing economies of Asia. Speaking on the occasion Mr. Faisal Shaikh-Head Corporate Banking BankIslami said that “Today, the global Sukuk market, denominated in international currencies, is estimated to be $18 billion. If domestic sukuk are included, it has now exceeded to $50 billion”. He further added that “High levels of surplus savings and reserves in Asia and Gulf region has further boosted demand for Sukuks which is expected to remain between 30 and 40 per cent of GDP for many years to come. In Pakistan Sukuks worth atleast Rs. 30 billion are either issued or in process of issuance” He further explained different structure of Sukuks and their application. Session chairman, Mr. Hasan Bilgrami-CEO BankIslami said that “BankIslami is playing a vital role in domestic Sukuk market and has already issued Sukuk worth Rs. 3 Billion and further Rs. 5 Billion are in the pipeline”. The seminar was widely attended by the Chartered Accountants, Cost & Management Accountants and the people from the financial community. by the Chartered Accountants, Cost & Management Accountants and the people from the financial community.|
- 25 September 2007
BankIslami issues privately placed Sukuk of Rs.. 1.2 Billion for PEL
- 1 September 2007
Novell showcases BankIslami's sucessful Linux Implementation
|SUCCESS STORY A new entrant in the Pakistani banking scene, BankIslami Pakistan needed a high performance infrastructure to build a global operation. To achieve rock-solid stability and efficient desktop management for dispersed workstations while keeping costs low, the bank chose SUSE® Linux Enterprise Server and SUSE Linux Enterprise Desktop. Overview Founded in April 7, 2006, BankIslami Pakistan Limited is a dedicated Islamic commercial bank offering a full range of commercial banking products and services compliant with Shariah Islamic law. The bank has fourteen branches in Karachi, Islamabad, Wah Cantt, Mirpur Azad Kashmir and Quetta, and plans to open 22 others in various parts of Pakistan. Challenge An upcoming financial institution in its first phase of growth, BankIslami wanted to develop a robust IT framework capable of supporting a dynamic business with evolving commercial strategies. The bank was scouting for a partner to help build its IT infrastructure from the ground up. The solution needed to be secure, scalable, reliable and easy to use in order to manage employees spread over multiple branches across the country. The company wanted to minimise the number of IT personnel required at each branch, without requiring central staff to visit individual locations to provide technical support – so the ability to deploy software and manage machines remotely was a major factor in BankIslami's choice of solution. The initial task was to roll out a solution for around 100 users at the bank's fourteen existing branches, and create a flexible, scalable infrastructure with the highest possible degree of security while keeping costs low. Novell Solution BankIslami initially considered Microsoft* Windows*, but felt constrained by the potential lock-in to a single vendor. Linux* scored over Microsoft in aspects such as functionality, frequency of releases and ease of deployment. The security of Linux and the opportunity to reduce costs were also positive factors. After homing in on Linux, the bank chose SUSE Linux Enterprise Server and SUSE Linux Enterprise Desktop to support its business-critical systems. "We felt that SUSE Linux Enterprise would be a more stable solution than a proprietary operating system, because the risk of virus infections and malicious attacks is considerably reduced," said Asad Alim, Head of Information Systems at BankIslami Pakistan. "Moreover, as a financial institution, we need enterprise-class support – something that few Linux vendors other than Novell can provide." BankIslami selected SUSE Linux Enterprise Server as the perfect solution for the bank’s mission-critical application environment, as it addresses the bank’s need for uninterrupted operation. The bank rolled out SUSE Linux Enterprise Server over a period of two months. For its desktop estate, BankIslami chose SUSE Linux Enterprise Desktop, deploying it on Sun Ray* stateless thin-client terminals from Sun Microsystems*. The bank has migrated most of its teller applications to the thin-client environment, which uses smartcard technology to enable users to log in securely from any terminal. Another advantage of the thin-client approach is that all data is stored and backed up centrally – helping to reduce risk for BankIslami. “With SUSE Linux Enterprise Desktop on Sun Ray clients, we have significantly improved the availability, reliability and performance of our teller applications, while reducing the management costs significantly,” said Alim. “Our partner, Emergen Technologies, provided valuable input for this part of the solution, and also helped us to design and deploy the entire SUSE Linux Enterprise environment.” With tools that accelerate deployment, centralise management and simplify maintenance, the choice of SUSE Linux Enterprise helps keep the bank’s systems running at their prime. "SUSE Linux Enterprise Desktop is a mature and fully-featured desktop environment, offering all the functionality we need to run our branches effectively," said Alim. “BankIslami is fully compliant with Islamic banking protocols, and SUSE Linux Enterprise gives us a secure and flexible platform for developing new services.” Result Using the advanced administration tools built into SUSE Linux Enterprise, BankIslami’s IT staff are able to easily install, deploy, configure and update servers and desktops securely, anywhere on the network. The solution allows the staff to configure any aspect of the Linux environment, significantly reducing the time and costs involved in administration and maintenance. “The Novell® implementation has given BankIslami confidence that data transmission can operate flawlessly round the clock,” said Alim. “The scalability and stability of SUSE Linux Enterprise Server makes it easy for our staff to support and integrate an increasing number of applications.” Strengthening the relationship further, the bank is looking at partnering with Novell for more products in the near future, such as Novell GroupWise and a Novell identity and access management solution. “Once you’ve designed the strategy, Novell products are very easy to deploy,” said Alim. “The bank has seen significant savings in terms of administrative resources. Ultimately, the real benefits are for our customers, who benefit from facilities such as Internet banking and biometric-enabled ATM and debit card support – facilities unheard of in Pakistan before.” View it at Novell website: http://www.novell.com/success/bankIslami_pakistan.html|
- 1 September 2007
BankIslami switches to Sun MicroSystems
|Pakistani bank switches to Sun by Michele Howe on Thursday, 13 September 2007 Server manufacturer Sun Microsystems has clinched a deal in the financial services vertical with BankIslami in Pakistan. Following a proof-of-concept, the bank replaced one hundred of its HP thin clients at its headquarters in Karachi with Sun Microsystems's Sun Ray ultra thin clients, the US company announced this week. Terms of the deal were not disclosed. According to Sun, its solution offered the Pakistan Islamic bank with a system that reduced hardware and maintenance cost and improved security and scalability. "We were impressed with the superiority of Sun Ray thin clients and decided that it was best suited for our organisation," Asad Alim, CIO of BankIslami commented. "It is vital in our industry to have a secure solution to protect corporate data and intellectual property. Sun's proven track record in the financial services industry and market leading solutions met our business requirements for a secure and scalable desktop solution." He added that the bank planned to extend its Sun Ray deployment as it expanded its operations. "In an industry where one could potentially have thousands of networked desktops, which regularly need updating with the latest applications, the savings in terms of time and cost is significant," Sun Microsystems MENA Chris Cornelius stated. "Sun Ray offers real benefits in terms of efficiency, speed of response, ease of maintenance and cost. The software will co-exist with the bank's backend infrastructure and offer multi-platform OS support," he added. Other deals Sun has won in the Middle East financial services sector include the Central Bank of Egypt, which last year contracted Sun to provide servers, data processing systems and specialised services as part of a US$2.85million overhaul of its IT infrastructure.|
- 18 August 2007
BankIslami buys JS Finance Limited
- 27 July 2007
BankIslami Launches "eStatement" Service for its Customer
KARACHI, July 27, 2007. BankIslami launches another very useful facility for its customers. Now all the account holders can request and receive Electronic Statement through Email, free of cost.
- Call 111 ISLAMI (111-475-264)
- Speak to a Phone Banking Officer
- Request for eStatement Activation
- Specify the Account
- Specify the Statement Frequency
Available Statement Frequencies
- Semi Annually
- 18 July 2007
AJK President lauds BankIslami, visits branch in Mirpur
- 13 July 2007
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:|
- 11 July 2007
PACRA assigns A- (Long Term) and A2 (Short Term) credit rating to BankIslami.
- 6 July 2007
BIPL becomes the First Bank to introduce new GBNA based Biometric Deposit ATM in Pakistan.
- 21 June 2007
Path Solutions secures a colossal deal with BankIslami Pakistan Limited.
|KARACHI, June 21, 2007. Kuwait-based banking software solutions provider Path Solutions announced that it has signed a contract with BankIslami, a newly established full-fledged Islamic bank in Pakistan, for the implementation of a complete core banking system in its entire upcoming 100+ branch network. 'It is a great leap forward for both of us', said Path Solutions' President, Naji Moukadam. 'Financial institutions are increasingly facing the challenge of meeting rapidly changing market requirements, and the need to replace their systems with a next-generation solution that provides business agility. iMAL can support large numbers of users with true non-stop resilience. It provides the answer to this pressing need', he affirmed. Path Solutions will deploy iMAL impressive suite of software applications which includes Islamic Financing and Investment operations, Islamic Treasury and powerful ALM monitoring across BankIslami's entire network. This deployment is a key milestone for both the participants of this project. 'Our major concern was to upgrade the existing system and boost the efficiency of our bank', explained Hasan A. Bilgrami, President and CEO, BankIslami. 'We are increasing our competence to have our Islamic banking products restructured for future growth and in pursuing this objective we sought a partner that has a successful track record in providing and implementing Shariah based banking software which will integrate with no trouble with our existing system. Partnership with Path Solutions provides us benefits that would help us achieve our goals of growth and profitability', Mr. Bilgrami added. Path Solutions' iMAL technology is kindling keen interest among the region's most prominent banks and financial institutions. iMAL is a high-performance, high-speed, high-bandwidth, point-to-point solution. It provides a flexible, scalable modular architecture for all applications. 'We are eagerly awaiting the implementation of iMAL as an overhaul system, since it will help us extend our operational effectiveness', said Asad Alim, Head of Information System at BankIslami. As reported by Rosie Kmeid, Path Solutions' Head of Corporate Communications & Marketing, this partnership supports one of the most important transformational IT projects for BankIslami. It also represents one of the largest core banking transformation engagements for Path Solutions in the region. http://www.ameinfo.com/125783.html|
- 11 May 2007
BankIslami now in Islamabad
|Islamabad 11th May 2007: BankIslami Pakistan Limited today opened its branch at Blue Area Islamabad. This is the 11th branch in the network of the Bank which will expand to 28 by the end of the year. BankIslami is the leading authentic Islamic bank providing Shariah compliant product menu with personalized customer services. It aspires to become the technologically driven Islamic bank providing services like Biometric ATM's, Electronic news board on branches, Internet banking and Phone banking. Shariah Supervisory Board of BankIslami comprises of Justice (R ) Mohammad Taqi Usmani (Chairman), Prof. Dr. Fazlur Rehman (Member) and Mufti Irshad Ahmed Aijaz( Member and Shariah Adviser).|
- 3 May 2007
BankIslami Launches Home financing product "MUSKUN"
- 3 May 2007
Bloomberg News covers BankIslami with its news story: BankIslami considers expansion.
|KARACHI: BankIslami Pakistan, the country's first Islamic bank with a focus on wealth management, is in talks with potential partners to fund a 10-fold expansion of its local branch network and tap markets overseas. "We need an alliance that can give us capital and access to global markets and we're in discussion with several groups," Hasan Aziz Bilgrami, chief executive officer, said in an interview at his Karachi head office on May 2. "This won't be a takeover but an equity injection at a premium by a financial institution in the Middle East, the U.S. or Europe." BankIslami joins companies like ABN AMRO Holding, Citigroup and Standard Chartered with its plan to expand Islamic banking to meet demand in the world's second-most populous Muslim nation. Pakistan's Islamic finance industry may grow fivefold in the next five years to 15 percent of banking assets, the central bank governor, Shamshad Akhtar, said in January. The bank will double its capital to 6 billion rupees, or $99 million, by the third quarter this year to finance as many as 100 new branches in 50 cities within the next three years, said Bilgrami. It plans to spend 4 billion rupees on branch expansion in the next two years, he said.BankIslami, Pakistan's fourth-biggest Islamic bank by assets, raised 400 million rupees in an initial share sale in March; demand for the shares was valued at 3.5 billion rupees. "Demand for Islamic products in Pakistan will grow because the interest is there and now the branches are there," said Habib-ur-Rahman, chief executive of Karachi-based Atlas Asset Management. "Islamic banks will have to compete hard on services and product range and they'll need to market more aggressively." BankIslami plans to open 18 new branches in five Pakistani cities this year, expanding from its current 10 branches, nine in Karachi and one in the western city of Quetta. Wealth management, which will be introduced in early 2008, will accountfor half of the bank's loans in three years, Bilgrami said. One-fourth will be corporate loans and a quarter will be lending to small and medium enterprises."No one has focused on Islamic wealth management as the core of their business," he said. "That's the gap we're going to fill." The bank plans to open its first overseas branch in Afghanistan in the next three years, because it is a "local and logical choice," Bilgrami said. It will open at least two more within five years, possibly including an outlet in Sri Lanka An alliance with an overseas partner will allow BankIslami to access customers in Saudi Arabia, United Arab Emirates, Qatar and Kuwait in the Middle East, Bilgrami said. He also plans to sell Shariah-compliant products in South Africa, Kenya, Zaire, Tanzania, Uganda and Botswana, in addition to Canada. Pakistan's Islamic banking industry expanded its assets by 42 percent in the six months that ended March 31, to 134.6 billion rupees, according to central bank data. SOURCE:http://www.iht.com/articles/2007/05/03/business/sxpakbank.php|
- 30 April 2007
BankIslami becomes first Pakistani bank to use Haydrian's XM3 AML solution, which helps banks detect, monitor and fight money laundering and other financial crimes.
|KARACHI, April 30, 2007. BELLEVUE, Wash./June 26, 2007 --- BankIslami Pakistan Limited, a leading Islamic bank in Pakistan has decided to implement Haydrian's XM3(R) Anti-Money Laundering (AML) solution. BankIslami's executives are confident that XM3 will allow their bank to manage risk more effectively as they continue to grow and expand their operations throughout Pakistan and the Middle East. Technology has been an important component of BankIslami's success, and XM3's cutting edge risk management capabilities will allow BankIslami to better fight financial crime and build a stronger compliance program as their business continues to progress and flourish. Haydrian's XM3 is a state-of-the-art detection, prevention and risk management platform, which safeguards financial institutions of all types and sizes, from drug trafficking, arms transactions, terrorist transactions and other forms of money laundering and the associated reputation damage. "XM3's seamless technology and Haydrian's first-rate team here in Karachi made selecting an AML solution easy. With our rapidly growing number of branches and customers, XM3 is the perfect fit to assist our compliance staff with the painstaking job of detecting and monitoring transaction and customer data. I am pleased to be raising the AML standard for Pakistan with XM3. I cannot stress enough how vital an AML solution is to the success of any bank today," said Mr. Asad Alim, Head of Information Systems at BankIslami. Haydrian's XM3 AML s|