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.
Currently, the Bank has 330 branches in 114 Cities of Pakistan.