Media Center

  • KARACHI, March 08, 2021

BankIslami Reports its Highest-Ever Profitability during 2020

BankIslami has reported its highest-ever profitability during financial year 2020. Profit after tax closed at Rs. 1.70 billion, up by 56% comparing with profitability of Rs. 1.09 billion during financial year 2019. Despite downward adjustment in policy rate, net spreads of the Bank increased by 16% on account of 21% growth in earning assets and improvement in CASA deposit mix to 64% from 60% in Dec’19. Total deposits and current account deposit of the Bank rose by 23% and 33% respectively despite all challenges due to spread of COVID-19 pandemic. To remain resilient against ensuing credit risk from economic slowdown and to counter potential delinquencies, the Bank also booked additional provisioning on prudent basis during the outgoing year. During the year 2020, the Bank was also successful in completing the IPO of Pakistan’s First Shariah Compliant and Listed Additional Tier-1 Sukuk, carrying the brand of ‘Ehad Sukuk’. Total size of the Ehad Sukuk is Rs. 2 billion. The issuance of this capital instrument has paved the way for BankIslami to enhance its financing portfolio and deposit base. Timely support measures taken by the Government of Pakistan (GoP) and State Bank of Pakistan (SBP) effectively addressed the pressures emanating from pandemic on various businesses and households. Considering gradual improvement in market appetite on the back of endeavors being made by Government and SBP to enhance private sector lending, the Bank is working on efficiently increasing its exposure towards rated Corporate clients, Government backed avenues, Auto Finance, Low Cost Housing Schemes, Agri Finance and FI placements. Furthermore, the Bank will continue with its current strategy to capture low cost CASA deposits which will in turn provide stable returns during the prevailing low benchmark rate regime.

  • Rawalpindi, 22nd February 2021

BankIslami x Bahria Town; making housing finance accessible.

– BankIslami, Pakistan leading Islamic Bank, has now introduced financing in Bahria Town starting with constructed, ready to live flats and houses. In the first phase, customers will be facilitated in availing the best residential options that they dream to call home in the city of Islamabad, Rawalpindi and Lahore. The newly introduced financing options are for customers who aspire to obtain Shariah compliant financing and can be availed by both residents and non-residents of Pakistan. Bahria Town offers the most progressive, versatile lifestyle options. Commenting on this occasion, Group Head Consumer Banking, BankIslami, Mr. Bilal Fiaz said “BankIslami is making sure that Shariah Compliant home financing is easily attainable to all our customers in a smoother and faster way. Our product offerings are extensive and through the newly introduced financing options in Bahria Town, we aim to provide the convenience, security and peace of mind that comes with the combined synergy of BankIslami and Bahria Town.” Also present at the occasion, Aamir Rasheed Awan, Director Finance, Syed Shabbar Hussain Shah, CFO & Company secretary Bahria Town (Pvt) Limited further added, “Bahria Town has provided housing and financing opportunities to new residents ever since its inception, and now through this agreement with BankIslami, the new financing options will make it easier than ever for hardworking individuals in Islamabad and Lahore to see their dreams come true in front of their eyes, as they explore the best life that Bahria Town has to offer. We are eager to serve the incoming residents with the safety, luxury, convenience, and beauty that Bahria town is famous for.” BankIslami is the country’s first scheduled Islamic Bank with more than 340 branches spread across the country in more than 123 cities. The Bank specializes in RIBA-free products and services which are delivered to customers in the most efficient and user- friendly manner.

  • 2nd March 2021

BankIslami Rises to the Skies with Pakistan International Airlines

BankIslami, Pakistan’s leading Islamic Bank, partnered with Pakistan International Airline (PIA) to co-brand their aircrafts, taking BankIslami’s visibility up a notch. The national carrier proudly features BankIslami headrests and pillow covers in all flights allowing customers to be acquainted with BankIslami. PIA serves 43 destinations operating 100 flights a day, making it the airline with the largest number of connections and the carrier of choice for people travelling to and from Pakistan.  BankIslami is taking this partnership opportunity to raise its brand image and recognition as one of the country’s premier finance institutes and this promising collaboration between two pioneers in their respective domains is guaranteed to be mutually beneficial.  Commenting on this development, BankIslami President and CEO, Syed Amir Ali stated; “At a time when providing simple mediums for financial inclusion to the masses has become imperative, BankIslami is making sure that this access is technologically-adept and Shariah-compliant. Our product offerings are substantial and through this association with PIA, we aim to grab the attention of travelers to explore the convenience, security and peace of mind that comes with what BankIslami, as an organization has to offer.” BankIslami is the country’s first scheduled Islamic Bank with more than 340 branches spread across the country in 123 cities. The Bank specializes in RIBA-free products and services which are delivered to customers in the most efficient and user-friendly manner.

  • Karachi, January 04, 2021

BankIslami enables its account holders on NIFT ePay

BankIslami enables its account holders on NIFT ePay

    BankIslami, in line with its vision to enable and promote cash-less and digital payments, becomes the first Islamic bank to go live with NIFT ePay. National Institutional Facilitation Technologies (NIFT), one of the largest payment processors in Pakistan launched its services for enabling digital commerce payments (Mobile / Electronic Commerce Payments) through NIFT’s DFS platform under the brand name “NIFT ePay” last year. The partnership would allow BankIslami’s accountholders, access to digital merchants available under NIFT’s ePay platform, as well as enable the merchants, businesses and institutions with BankIslami to collect digital/online payments from accountholders of other institutions. NIFT ePay provides an opportunity to BankIslami’s customers to conduct e-commerce transactions directly through their accounts. BankIslami and NIFT together will be creating various e-commerce activities using interoperable account based digital commerce being offered by NIFT ePayment Gateway. The agreement opens up new opportunities for both organizations to build new digital e-commerce activities. ‘BankIslami’ is a prominent Islamic bank in Pakistan with branch network of over 340+ branches operating in 114+cities nationwide, working in the Corporate, Retail and Consumer Banking segments. BankIslami is focused in providing digital channels to both its retail and business customers for making digital payments and has been taking lead in providing digital solutions to businesses. The agreement was signed by Mr. Haider Wahab, CEO – NIFT and Mr. Bilal Fiaz, Group Head – Consumer Banking, BankIslami. Mr. Haider Wahab, CEO – NIFT added, “We are pleased to sign up with BankIslami on NIFT ePay to provide innovative digital banking products to account holders and also help their business relationships in availing digital collection solutions. We are confident that the partnership between BankIslami and NIFT will create innovative digital e-commerce activities under Islamic Banking services.” Speaking on the occasion, Mr. Bilal Fiaz, Group Head – Consumer Banking, BankIslami welcomed the initiative by NIFT to promote e-commerce transactions. He further added “BankIslami is focused on providing innovative digital solutions for its customers by adding new technology platforms; this partnership with NIFT will provide secure digital payments to BankIslami Customers through their bank accounts on various e-Commerce websites in Pakistan.”      

  • karachi,

BankIslami Wins 10th CSR Award: Social Impact and Sustainability Initiatives

KARACHI: BankIslami, Pakistan’s leading Islamic Bank, earned the 10th International Corporate Social Responsibility Award in the categories of “Sustainability Initiatives” and “Social Impact” by fulfilling its vision of serving humanity the right way.      . The award is the first and only CSR Award initiative in Pakistan, registered with the IPO, Government of Pakistan, and was presented to BankIslami at a ceremony held recently in Karachi. In order to serve its extensive customer base in the country as best it can, BankIslami relies on perspectives, skills and valuable insights from every aspect of the societal wavelength. With this target in mind, BankIslami continues to organize CSR initiatives around the country, staying true to its core values. The prestigious awards were presented to BankIslami representatives Mr.Arif Mehtab, at the ceremony held in Karachi. The event was attended by prominent personalities belonging to the corporate sector, government organizations, NGOs, academia, and a number of media organizations were also present. BankIslami is the country’s first scheduled Islamic Bank with more than 340 branches spread across the country in 123 cities. The Bank specializes in RIBA-free products and services that are delivered to customers in the most efficient and user friendly manner.

  • Karachi ,

BankIslami extends Strategic Alliance with Premier Systems (Pvt) Ltd (Audi in Pakistan)

KARACHI: BankIslami Pakistan Limited, one of the leading Islamic banks of Pakistan with a network of 330 branches in 114 cities, has extended its agreement for the year 2020, with Premier Systems (Pvt) Ltd. (Audi in Pakistan), Pakistan's No. 1 luxury premium automobile brand. With the successful completion of three years of Alliance, both BankIslami and Audi in Pakistan have reaffirmed their continued commitment to mutually serve the Automobile Industry of Pakistan and offer customized financing packages to Audi customers across the country through their featured product of Auto Finance. Mr. Bilal Fiaz – Head of Consumer Banking, BankIslami and Mr. Muhammad Yasin Khan – Chief Financial Officer (CFO) - Premier Systems (Pvt.) Ltd. (Audi in Pakistan), further fortified this successful partnership by signing the agreement in a meeting held in Karachi. Speaking on the occasion, Mr. Bilal Fiaz, remarked “With the growing prosperity of our venture, this signing is another milestone for the organizations as well as the customers who will profit from our unique auto financing solutions. Speaking at the occasion Mr. Muhammad Yasin Khan, Chief Financial Officer of Premier Systems (Pvt) Ltd, said “Driving away in an Audi has never been more easier. This Strategic Alliance between Bank Islami and Audi in Pakistan will enable us to offer unmatched offers to our valued customers, who can now avail exceptional deals in terms of competitive pricing, fast track processing, waivers in processing charges, priority vehicle delivery and exclusive coverage provided by renowned Takaful companies at competitive premium rates.

  • Karachi ,

PACRA Maintains A+ Entity Ratings of BankIslami Pakistan Limited

KARACHI: The Pakistan Credit Rating Agency Limited (PACRA) has maintained BankIslami’s long-term entity rating at A+ (short term rating at A1) with a Stable Outlook. The ratings reflect BankIslami's sustained risk profile. The Bank’s profitability enhanced owing to asset yield driven by peaked policy rates and volumetric increase in financing and instruments. Higher increase in asset yield than cost of funds - resulting in increase in spreads. The Bank was able to achieve good operating profits; trend should continue. The management is emphatically pursuing for recovery of NPLs, leading to improvement in impairment ratio.   Covid-19 has posed challenges to all segments of the economy, worldwide and domestically, most sectors are getting negatively impacted. The ramifications would continue to unfold, warranting vigilance and timely actions where needed. The Central Bank has taken well-tailored and comprehensive actions including reduction in key policy rates (625bps down since Jan-20) and deferment of repayment obligations. While reduction in policy rates would determine the Bank’s profitability, these measures have cushioned the allied risks surrounding the credit exposures.   The Bank’s deposit base recorded significant addition tilted towards term deposits leading to decline in CASA (end-Dec19: 58.5%, end-Dec18: 68.8%) with focus to increase stability and liquidity. Increased term deposits may effect cost of funds in CY20. Key positions are headed by experienced individuals. The Bank’s management is positive about performance and achieving cost efficiency, pursuing the new business plan under leadership of the CEO. The focus is on risk management, IT infrastructure, workforce strengthening and customer facilitation which will help bank to achieve operational efficiency.   The Bank has taken steps to strengthen its fortress against cyber risks; provision needed was created in CY19. Going forward, primary focus is to consolidate CAR as the relaxations given by Central Bank will be withdrawn in CY21. The management is current on the planned steps to enhance capital of the Bank which will assist in inching up CAR. The Bank's ability to raise its capital base in order to pursue its growth plan is important. In this regard, BIPL made a right issue of Rs. 1 billion along with the issuance of ADT-1 Sukuk of Rs. 2 billion.

  • Lahore,

BankIslami’s Branch Managers certified by LUMS on Islamic Finance

KARACHI: BankIslami Pakistan Limited, in collaboration with the Centre for Islamic Finance of Lahore University of Management Science (LUMS) successfully conducted a certified program on Islamic Finance for its branch managers in Lahore. This capacity building initiative was aimed at equipping branch managers of BankIslami with essential Islamic Banking knowledge providing them the ability to serve the customers better through more personalized and robust services. Dr. Saad Azmat, (Associate Professor of Finance, Director Office of Research, Chair of Centre for Islamic Finance, at Lahore University of Management Sciences (LUMS)) conducted these trainings. Expressing his views on the occasion he remarked that “This partnership between Centre for Islamic Finance at LUMS and BankIslami would be instrumental in promoting Islamic Finance in Pakistan.” Mr. Rizwan Ata, Country Head Distribution of BankIslami Pakistan spoke at the inaugural session. He emphasized that as branch managers of one of the leading Islamic Bank of Pakistan, the team members have a responsibility to spread awareness about Sharia-compliant banking among consumers and other stakeholders. Therefore, it is essential for them to develop deeper understanding on prohibition of riba and strive to build conviction towards the frameworks that serve as foundation for Islamic Finance. This learning initiative was planned for branch managers as part of Bank’s continuous development and capacity building initiative. The certificate distribution ceremony was presided by Mr. Aasim Salim, General Manager, Central region and also attended by Ms. Ayesha Ashraf Jangda, Section Head, Training & Organizational Development. The Centre of Islamic Finance at LUMS, was established to meet the growing human resource and knowledge requirements of the Islamic finance industry.

  • Karachi ,

BankIslami bags three accolades at the 9th CSR Summit and Awards 2020

KARACHI: BankIslami, one of the chief technologically advanced banks of Pakistan with more than 330 branches in over 114 cities, won three prestigious awards at the 9th CSR Summit & Award 2020 ceremony held recently. The three categories included Green/Environmental Stewardship, Sustainability Initiative and Social Impact.   BankIslami is a strong advocate of eco-friendly living and is always at the forefront when it comes to giving back to the society and contributing to a sustainable future. Adhering to their core belief, the team at BankIslami took initiatives including the introduction of biometric, card-less technology; "One Touch Banking" that allows free, cheque-less (paperless) transactions to customers; "Share to Care" where they spent a day at Edhi Homes with children; providing international scholarships to students for Singapore and last but not the least they solar powered more than fifty percent of their branches.   These continuous efforts have allowed the institution to be recognized and rewarded at an esteemed platform like the 9th CSR Summit & Award 2020.   The dynamic team of BankIslami zealously strives to utilize more opportunities to fulfill its corporate social responsibility for the years to come.

  • Karachi ,

Commander Southern Command Lt. Gen Muhammad Waseem Ashraf Inaugurated BankIslami branch in Quetta

KARACHI: BankIslami has inaugurated a new branch in Quetta Cantt. Lt. Gen Muhammad Waseem Ashraf, HI(M) Commander Southern Command grace the ceremony with his valuable presence. He was accompanied by President & CEO BankIslami, Syed Amir Ali and General Manager South West Burhan Hafeez Khan along with other representatives from Bank Islami. The new location is another addition to a network of 330+ branches that the financial institution operates throughout the country. BankIslami is the country’s first scheduled Islamic Bank which offers a diverse range of solutions for deposit and credit related to the needs of customers. The opening of a new branch in Quetta Cantt makes Islamic financial services more accessible and convenient to residents of the city. BankIslami is working towards the goal of creating a robust banking network which can aid in improving the financial inclusion ratios across Pakistan. Speaking at the occasion, President & CEO BankIslami, Syed Amir Ali emphasized; “Quetta is the provincial capital of Balochistan, a province which is rapidly gaining importance as an integral part in handling a bulk of investment that Pakistan is receiving from external as well as internal investors. BankIslami’s presence in the city is in line with our objective to bring modernized and technologically advanced Islamic banking closer to customers as well as a host of other stakeholders who are driving the country’s economy forward.” The new branch in Quetta Cantt is a value-added venture to the existing branches in the city. BankIslami also has opened a new branch in Sanjavi this year which caters to another area of Balochistan. Alongside the newly inaugurated one, these branches will enable greater flexibility to the customers when it comes to financial transactions as well as availing a variety of other services with the Bank.

  • Karachi ,

BankIslami Wins Four Categories at NFEH Awards

KARACHI: BankIslami, one of the leading technologically advanced bank of Pakistan with 330 branches in 114 cities, won four prestigious awards at the National Forum for Environment & Health in an award ceremony held recently. The four categories included Biodiversity, Employee Engagement and Volunteering, Education and Scholarship and Green Energy. The Bank is a strong advocate of eco-friendly living and is always at the forefront when it comes to giving back to the society and contributing in its sustainable future. Adhering to their core belief, the team at BankIslami took initiatives including introducing a biometric, cardless technology "One Touch Banking" that allows free, chequeless (paperless) transactions to customers; "Share to Care" where they spent a day at Edhi Homes with children; provided international scholarships to students for Singapore and last but not the least they solar powered more than fifty percent of their branches. These continuous efforts have rewarded them with the honorable recognition at the prestigious NFEH’s awards. The dynamic team of BankIslami zealously strives to utilize more opportunities to fulfill its corporate social responsibility for the coming year.

  • Karachi ,

BankIslami Ehad Sukuk

KARACHI: BankIslami Pakistan Limited, while fulfilling its vision of providing innovative Shariah complaint products and services to the customers, proudly announces Pakistan’s ‘First’ Initial Public Offering (IPO) of Additional Tier 1 Modarba Sukuk under the brand name of “BankIslami Ehad Sukuk”, which will be listed and traded on Pakistan Stock Exchange (PSX). The word “Ehad” means an era of new vision, new leadership and also means a ‘Promise” to reaffirm the fact that BankIslami is committed to offer authentic Islamic Banking products and provide Halal returns to the Sukuk investors.   BankIslami Ehad Sukuk offers monthly profit payment at an attractive expected profit rate of 2.75% over 3 Months KIBOR. The rating of Sukuk is ‘A-’ assigned by PACRA, while long term and short term rating of the Bank is ‘A+’ and ‘A1’. Total size of Sukuk Issue is PKR 2 billion out of which PKR 1.7 billion has already been subscribed by Pre-IPO Investors including 27 prestigious institutions of the country and 45 high net worth individuals.   Public subscription dates for PKR 300 Million IPO are Monday, April 20th and Tuesday April 21st 2020. Minimum investment amount is Rs.5, 000/-. Next Capital Limited, acting as Consultant to the Issue whereas JS Global Capital Limited is the Joint Advisor & Arranger and designated Market Maker. The IPO is fully underwritten by Next Capital Limited and Arif Habib Limited. In addition to BankIslami, 10 more banks have been appointed as Bankers to the Issue to receive the Sukuk subscription. Further, to facilitate and promote online subscription, the eIPO services of CDC and UBL have been obtained. Ehad Sukuk Prospectus and Subscription Form can be easily accessed and downloaded from BankIslami website as well as the websites of PSX, CDC, Next Capital and JS Global.  

  • Karachi ,

BankIslami Wins Brand of the Year Award 2019 for Islamic Banking

KARACHI: BankIslami, the country’s leading Islamic bank, has bagged one of the most prestigious national accolades this year by becoming the Brand of the Year 2019. The bank won in the Islamic Banking category in acknowledgment of its achievements in highlighting brand excellence as well as noteworthy performance across the industry. The Brand of the Year Awards which is an annual event celebrating outstanding services and innovative products by organizations across a diverse range of sectors was attended this year by notable dignitaries and ministers. The jury this year recognized the marketing as well as strategic efforts implemented by BankIslami to promote the image of a technologically advanced, modern Islamic Bank. The brand  reputation along with trust ratios for BankIslami has risen among and beyond its target audience leading to award one of the most renowned marketing accolades in Pakistan. Speaking at the occasion, President & CEO, BankIslami Syed Amir Ali, stated; “At BankIslami, we believe in enabling our customers as well as all other stakeholders in having access to the most convenient Shariah-compliant financial services in the market. We continue to expand financial inclusion across the country by building credibility as well as an image of an institution that simplifies banking for its customers. Being recognized by a platform like Brand of the Year is certainly a feather in our cap and we hope to keep our momentum going in the times to come.” BankIslami took numerous steps which included formulation of effective strategies to rebrand a refreshed image of the organization among both existing and potential target markets. The Bank aspires to accelerate towards the right direction to accomplish further accolades like these while delivering quality to its customers.

  • Karachi ,

BankIslami Opens New Branch in Balochistan

KARACHI: BankIslami announced the opening of its new branch in Sanjavi Balochistan. To commemorate the new location, higher officials from Balochistan and Burhan Hafeez, General Manager – South, BankIslami joined, at the grand opening celebration and ribbon-cutting ceremony to officially open the branch. "We're excited to expand our presence in Balochistan and open our branch in Sanjavi where we can help local residents and business owners with their banking needs," said Burhan Hafeez. He further added, "BankIslami is investing in its branch network, and this location features our new modern design that encourages engaging, consultative customer interactions in a comfortable setting." The new branch offers a welcoming environment with innovative features designed to improve the customer experience. There are several meeting spaces for customers to interact with the branch officials, including a meeting room where they can meet with bankers to discuss their financial needs. The 24-hour ATM and One Touch Banking services are available to customers.

  • Karachi ,

BankIslami Launched Tree Plantation Drive ‘Plantation for Nation’ to Promote Prime Minister’s Green Pakistan Vision

KARACHI: Being a part of Federal Government efforts to offset the impacts of climate change by rehabilitating forests, conserving soil, and improving water management, BankIslami observed Plantation Drive under the campaign “Plantation for the Nation”. BankIslami exhibited their love and solidarity for Pakistan through various activities and celebrations on 73rd Independence Day of country, and tree plantation is one of them. President & CEO BankIslami, Syed Amir Ali, along with Bank’s staff, planted trees at a branch as a significant move to respond to the growing environmental challenges and improve ecological standards in Pakistan. BankIslami, being a socially responsible corporate organization, follows the footstep of Government under Country’s Largest Tree Plantation Campaign by planting as many trees as possible. BankIslami has already carried out similar drives to make Pakistan green in the past. This time, it has come up with a revamped plantation campaign to continue its efforts towards improving environmental health in the upcoming seasons. “Pakistan ranks 7th amongst the top ten countries affected by climate change, where citizens can help by planting one tree at a time. Through ‘Plantation for the Nation campaign’, BankIslami aims to contribute to the Bonn Challenge, a global effort to address the serious issue of deforestation. “, said Syed Amir Ali, President & CEO BankIslami. He further added, “There is an urgent need to take collective action to ensure a better Pakistan for our children. We have taken the step, setting an example for our customers while bringing happiness in their lives with cleaner and greener Pakistan. Trees play a vital role in our lives, and we all need to work together to plant more trees across our city and country, as this is a critical need of the hour.” BankIslami is confident that this initial step will grow into larger actions to help the nation’s environmental issues. Other employees of the bank also participated in this drive by planting trees at their respective Area and City Branches.

  • Karachi ,

BankIslami’s Profit After Tax grew by 4.1 times to Rs. 1.1 Billion for 2019

KARACHI: The Board of Directors of BankIslami Pakistan Limited (‘The Bank’ or ‘BankIslami’) in their meeting held on February 27, 2020 in Karachi approved the Bank’s audited financial results for the year ended December 31, 2019. The year 2019 proved to be a remarkable year for BankIslami, where the Bank posted impressive financial results. On the back of an effective business strategy and widespread marketing activity, Bank’s Deposit base grew by 24% to close at Rs. 229 Bn, leapfrogging industry growth of around 10%. With an increase in source base of the Bank, total Assets of BankIslami also increased by 31% during outgoing year where funds were efficiently placed towards Islamic Financing, SLR Eligible Investments and Money Market Instruments. To strengthen its risk absorption capacity, the Bank booked accelerated provisioning on subjective basis against infected portfolio resulting in an improved coverage ratio of 85% as oppose to a coverage ratio of 72% in December 2018. Owing to increase in Bank’s earning assets and rise in benchmark profit rates, Bank’s net spread earned registered a growth of 79% in 2019 over last year. Combined with this, improvement in cost to income ratio to 63% in 2019 from the ratio of 94% in FY18, buoyed the Bank to generate a profit after tax of Rs.1,087 Mn for 2019, which is 4.1 times higher than profit after tax of Rs. 213 Mn reported last year, Alhamdulillah. BankIslami, to boost its capital base and support the continuous growth of Balance Sheet, successfully completed issuance of Right Shares amounting Rs. 1.01 Bn during 2019; thereby increasing its paid up capital to Rs. 11.01 Bn. In line with its strategy to further increase its earning capacity with a robust capital adequacy profile, the Bank is also in the process of issuing Listed Additional Tier-1 Capital (Ehad Sukuk) of Rs. 2 Bn. The Bank has successfully raised Rs. 1.7 Bn in the Pre-IPO phase of Ehad Sukuk during 2019.

  • Karachi ,

BankIslami partners with IMC to ease vehicle financing for customers

KARACHI: January 21, 2020–BankIslami Pakistan Limited, one of the leading Islamic banks of Pakistan with a network of more than 330 branches in over 114 cities, signed an agreement with Indus Motor Company Limited (IMC), the exclusive manufacturer of Toyota vehicles in Pakistan enabling smooth auto financing for their Residual Value Customers. Through this alliance, both BankIslami & Indus Motor Company will offer customer value proposition of exclusive deals to Toyota customers only. The agreement was signed by Mr. Bilal Fiaz, Head of Consumer Banking, BankIslami and Mr. Abdul Rab, Senior General Manager Marketing & Sales, Indus Motor Company Limited. Reflecting on the occasion, Bilal Fiaz from BankIslami added: “With the current trend of rising costs and its challenging effect on the consumer’s purchasing power, BankIslami is consistently striving to introduce convenient and affordable financing alternatives that are Shariah compliant. This partnership is a step in the same direction. We are honored to be partnering with IMC to make a positive impact on the auto finance market.” BankIslami aims to create value for everyone in the eco-system in which it operates by offering Shariah-compliant financing solutions for all segments of the society which this partnership guarantees.

  • Karachi ,

BankIslami Pakistan Limited & Central Depository Company sign MoU for EPM Services

The MoU Signing Ceremony was held Dated: 04-11-19 at CDC House, Sh-e-Faisal Karachi between BankIslami Pakistan Limited & Central Depository Company - CDC whereby both institutions have entered into an arrangement for implementation of CDC's Efficient Payment Mechanism (EPM) via BankIslami Cash Management Services. BankIslami is the first Islamic Bank to implement CDC’s EPM Services. The ceremony was graced by the presence of President & CEO BankIslami - Syed Amir Ali and CDC CEO - Mr. Badiuddin Akber along with other key officials of both the organizations. Islamic Banking and its products were mainly part of the discussion, President & CEO BankIslami - Syed Amir Ali enlightened CDC about Bank's innovative products and services especially "BankIslami's One Touch Banking". He also appreciated CDC initiative for implementing e-payments and digitization of payment mechanism viz "Efficient Payment Mechanism" and said that this overall proposition will add efficiency to subject payments. On the other hand, CEO CDC – Mr. Badiuddin Akber congratulated BankIslami on being the first Shariah Compliant Bank to integrate and implement "Efficient Payment Mechanism". He displayed full confidence in BankIslami for a mutually beneficial business relationship that would add value to the CDC payments being done on behalf of Asset Management Companies (AMCs). Sitting from Left to Right: Mr. Abdul Samad - Chief Operating Officer- CDC, Mr.BadiuddinAkber - CEO CDC, Syed Amir Ali - CEO BankIslami, Mr. ShahzadKazmi, Head of Corporate Banking- BankIslami Standing Back from Left to Right: Mr. Muhammad Kamran Allahuddin - Manager Trustee & Custodian Services-CDC, Mr. Atiqur Rehman - Head of Trustee & Custodial Services-CDC, Mr. Touseef Ahmed Abbasi, Section Head Cash Management- BankIslami, Mr. Muhammad Umair Khatri, Unit Head Cash Management- BankIslami.

Sitting from Left to Right: Mr. Abdul Samad - Chief Operating Officer- CDC, Mr. Badiuddin Akber - CEO CDC, Syed Amir Ali - CEO BankIslami, Mr. Shahzad Kazmi, Head of Corporate Banking- BankIslami Standing Back from Left to Right: Mr. Muhammad Kamran Allahuddin - Manager Trustee & Custodian Services-CDC, Mr. Atiqur Rehman - Head of Trustee & Custodial Services-CDC, Mr. Touseef Ahmed Abbasi, Section Head Cash Management- BankIslami, Mr. Muhammad Umair Khatri, Unit Head Cash Management- BankIslami.

  • Lahore,

BankIslami Pakistan Limited signs Memorandum of Understanding (MOU) with COMSATS University

BankIslami Pakistan Limited, one of the leading Islamic Banks in the country, has signed a Memorandum of Understanding (MOU) with Center of Islamic Finance - COMSATS University (CUI), Lahore Campus, one of the leading public sector univerities of the country, to collaborate in conducting Islamic Banking awareness seminars and workshops for the students and public at large to spread understanding about Islamic Banking. BankIslami will also support CUI in research initiatives in Islamic Banking and Finance. The MOU was signed by Mr. Syed Amir Ali, President & CEO of BankIslami Pakistan Limited and Dr. Abdus Sattar Abbasi, Head of Center of Islamic Finance, CUI, Lahore Campus. The signing ceremony took place during the 7th Global Forum on Islamic Finance which was held recently in Lahore. Mr. Raja Yassir Humayun Sarfraz - Minister for Higher Education and Tourism, Government of Punjab and Mr. Samiullah Chaudhry - Punjab Food Minister also graced the occasion. The MOU is being seen as a welcome move in contribution towards the burgeoning Islamic Banking Industry and is a praiseworthy example of the Industry and Academia joining hands to foster Islamic Banking through awareness sessions and academics with a special focus on research.

  • Karachi ,

BankIslami posts Profit After Tax of Rs. 581 Mn for the Half Year 2019

KARACHI, August 28, 2019: The Board of Directors of BankIslami Pakistan Limited has approved the Bank’s financial results for the half year ended June 30, 2019 in their meeting held in Karachi on August 27, 2019. During half year ended June 30, 2019, the Bank generated operating profit before provisions to the tune of Rs. 1,789 Mn which is 13.7 times higher than numbers reported for the same period last year. The surge in operating profits was mainly attributable to overall increase in net revenue of the Bank by 63.6% as compared to HY2018. The cost to income ratio has reduced to 66.8% during HY2019 as compared to 96.3% in HY2018. Adopting a conservative approach, the Bank has booked accelerated provisions against Islamic Financing and other assets and posted a profit after tax of Rs. 531 Mn for HY 2019 which is over 8 times higher than profit after tax of Rs. 65 Mn for HY2018. During half year ended June 30, 2019, BankIslami’s balance sheet demonstrated a robust growth on the strength of its extensive branch banking business and its recently rejuvenated sales structure, enabling the Bank to increase its deposit base by 15.8% at the end of June 2019 vis-à-vis December 2018 and closed at Rs. 214 Bn; while the Bank’s asset base grew by 17.8% in comparison to the numbers reported at December 2018 end. Moreover, on the back of effective measures taken by the Bank on the recovery front, the BankIslami’s overall infection ratio has declined from 11.9% as at December 31, 2018 to 9.9% as at June 30, 2019, while the coverage ratio (including general provisions) rose from 72.4% as at December 31, 2018 to 89.4% at the end of June 30, 2019. In order to strengthen the capital base, BankIslami is in process of issuing its listed Additional Tier-1 Capital (Sukuk) of Rs. 2 Bn [including greenshoe option of Rs. 500 Mn] during the year 2019. In addition to this, the Bank has also decided in-principle to increase its share capital during the current year by way of issuing right shares amounting to Rs. 1 Bn.

BankIslami partners with Sajjad Foundation to send Pakistani students to NUS Enterprise Summer Programme on Entrepreneurship at National University of Singapore

Sajjad Foundation of USA and Singapore has partnered with BankIslami Pakistan Limited this year to send fourteen students from top universities of Pakistan to NUS Enterprise Summer Programme on Entrepreneurship in Singapore. This two week summer program is taking place from 15th till 27th, July 2019 at National University of Singapore (NUS) in Singapore. It offers undergraduate students one of a kind opportunity to have an immersive experience of entrepreneurship by inspiring their entrepreneurial imagination and enhancing their entrepreneurial skills. Through an enriching combination of lectures, conversations with startups, ideation and pitching sessions as well as visits to business and government organization, it aims to provide students a comprehensive educational experience. These 14 students have been selected from over 500 student applications received and are from Institute of Business Administration, Karachi, Lahore University of Management Sciences, Lahore School of Economics, Information Technology University, Lahore, Institute of Management Sciences, Peshawar and Namal Institute, Mianwali. Sajjad Foundation is the principal sponsor and has sent over 200 students in conjunction with other partners in the last ten years to this prestigious program. The Foundation is delighted with the opportunity to partner with BankIslami this year to continue this initiative. On the occasion of Orientation program before the students left for Singapore, Syed Amir Ali, President and CEO of BankIslami said that the mission of BankIslami is to create value for our stakeholders and everyone in the eco-system in which it operates. At BankIslami, we participate in initiatives that serve the community and have sustainable impact on the society. With this community service program, we wish to encourage and inspire our youth to innovate and become future tech & business leaders. In the end, he appreciated Sajjad Foundation efforts for successfully running this CSR program for past ten years. He also thanked Sajjad Foundation for choosing BankIslami as their partner for this extraordinary program this year.

  • Karachi ,

BankIslami visits Edhi Children Home for its ‘Share to Care’ CSR movement

KARACHI: May 30, 2019–As part of its Corporate Social Responsibility (CSR) movement “Share to Care”, BankIslami, one of Pakistan’s leading Islamic banks recently visited Edhi Children Home in Korangi, Karachi. The Bank’s staff visited the Edhi Welfare Centre to spread the spirit of benevolence in this holy month of Ramzan where they spent time with children, had Iftar with them and distributed Eidi and new clothes for Eid. Edhi Foundation is a well-known Non-Government Organization (NGO) working for many years supporting orphans and abandoned children by providing shelter and related support activities. A total of 18 homes have been set-up by Edhi Foundation all over Pakistan. As a whole, 8,500 younger boys and girls including elder ladies and gents have been accommodated in these 18 homes. BankIslami is pleased to work with Edhi Foundation with the aim to spread sheer happiness among children. It realizes that these children are a joint responsibility of society and they deserve a fair chance to grow up as productive members of the society. The Bank remains committed to further leveraging its CSR initiatives to create significant social value for people, especially those who are less privileged.

  • Karachi ,

BankIslami and EFU Life join hands for BancaTakaful Business

Karachi, May 14, 2019: BankIslami Pakistan Limited and EFU Life Assurance Limited have entered into strategic alliance for distribution of EFU Life’s Hemayah Family Takaful products. BankIslami is one of the leading Islamic banks operating through a network of 330 branches in 114 cities in Pakistan. EFU Life is one of the leading life insurance companies in Pakistan and is the first Window Family Takaful Operator licensed by SECP. The signing ceremony was held at BankIslami Head Office Karachi and the agreement was signed by Syed Amir Ali, President & CEO of BankIslami and Mr. Taher G. Sachak, MD & CEO of EFU Life. Mr. Bilal Fiaz, Head-Consumer Banking of BankIslami, Mr. Laeeq Ur Rehman, Head-BancaTakaful of BankIslami, Mr. Mohammed Ali Ahmed, Executive Director of EFU Life and other senior officials from both the organizations also attended the ceremony. Speaking on the occasion, Syed Amir Ali, President & CEO of BankIslami said, “On this prestigious occasion, two of the leading organizations in their respective sectors have entered into a partnership. This strategic alliance will certainly help in providing better services to our customers. With this alliance, we are inking a new chapter in the success story of BankIslami’s BancaTakaful products. Mr. Taher G Sachak, MD & CEO of EFU Life said, “We are delighted to have BankIslami on board as our Bancatakaful distribution partner. EFU Life and BankIslami share the same vision of creating value and convenience for their customers through innovative Shariah Compliant financial solutions for their saving and protection needs. There is a huge potential for Shariah Compliant takaful solutions in Pakistan and together with BankIslami we aim to penetrate further into this segment”.

  • Karachi ,

BankIslami posts Profit After Tax of Rs.251 million in First Quarter of the Year 2019

KARACHI, April 25, 2019: The Board of Directors of BankIslami has approved the Bank’s First Quarter Financial Statements for the period ended March 31, 2019 in their meeting held in Karachi on April 24, 2019. The Bank has witnessed a promising start of the year 2019 and posted impressive results during first quarter of the current year. The Bank recorded operating profit before provisions of Rs. 866.973 million which is 9 times higher than numbers reported for the same period last year. Adopting a prudent approach, the Bank recorded accelerated provisions against its delinquent portfolio and closed the pre-tax profit of Rs. 408.237 million; 6 times higher than numbers reported for corresponding period last year. Post-tax profit was recorded as Rs. 251.303 million. Despite economic slowdown, the Bank was able to grow its deposit base by 3.6% and closed at Rs. 191 billion; while its asset base grew by 5.2%. One of the major highlights of the financial results was the infection ratio which has reduced massively to 10.03% from 11.88% as at Dec 31, 2018. Further, the coverage ratio i.e. provision against non-performing portfolio has increased to 88.3% from 70.97% as at Dec 31, 2018 which is higher than the industry average of 83.2% as reported in SBP’s Islamic Banking Bulletin for Dec 2018. The Bank has also announced on bourses that, to provide impetus to its growth plan, the Board of the Bank has in principle agreed to consider the issuance of right shares by Rs. 1 billion during the year. Further, it has also approved the issuance of Additional Tier-1 Capital to the tune of Rs. 2 billion (inclusive of green-shoe option of Rs. 500 million). This would stage the Bank to take various growth initiatives which would ultimately contribute towards the growth of overall Islamic banking industry.

  • Karachi ,

BankIslami Pakistan signs MoU with BIPL Securities and Kifayah Investment Company

KARACHI, April 18, 2019: A Memorandum of Understanding (MoU) has been signed between BankIslami, BIPL Securities and Kifayah Investment Company with the aim to promote investment culture for Non Resident Pakistanis (NRPs) and locals in Pakistan by providing them a one stop solution for all their investment needs.

  • Karachi ,

BankIslami Pakistan signs MOU with NUST

KARACHI, April 10, 2019: BankIslami Pakistan Limited, one of the leading Islamic Banks in the country, has signed a Memorandum of Understanding (MOU) with National University of Sciences & Technology (NUST), one of the leading univerities of the country. The MOU signing ceremony was held at the Head Office of BankIslami Pakistan Limited. BankIslami and NUST will collaborate in conducting Islamic Banking awareness seminars and workshops for the students and public at large to spread understanding about Islamic Banking and Finance. BankIslami will provide technical and training assistance to NUST for curriculum designing of Islamic Finance courses, development of case studies, training of faculty and students, etc. BankIslami and NUST will also jointly work in research initiatives in Islamic Banking and Finance. The MOU between BankIslami and NUST will help strengthen the partnership between the Industry and Academia and will contribute towards the growth of Islamic Banking and Finance in the country

  • Karachi ,

BankIslami Annual Audit depicts growth of over 150% in 2018

[March 04, 2019]: The Board of Directors of BankIslami has approved the Bank’s Annual Audited Financial Statements, for the year ended December 31, 2018, in their meeting held in Karachi on February 28, 2019. BankIslami posted profit before tax (PBT) of Rs. 403 million for the year 2018, depicting a growth by 156% compared to PBT of last year. During the year 2018, the Bank grew its deposits by 3.6% while its CASA (Current Accounts and Saving Accounts) grew by 4.8%, hence improving the mix of deposits. On financing side, Bank continued its growth momentum in consumer finance, being its flagship business line, which witnessed the growth of 21.6%. With gradual influx of funds through deposits together with an increase in policy rates, the Bank registered improvement in its return on average earning assets during the year 2018, which ensued in an increase of 18.2% in its net spread earned. Along the same line, Bank's non-funded income comprising of fee and commission income earned through trade business, alternative distribution channels, investment banking and general banking also grew by 30% during the year 2018 as the Bank operated with a strategy to enhance its fee based revenue streams. The Bank's operating expenses increased by 8.2% reflecting Bank's spending on areas of growth and effect of inflation. During the year 2018, BankIslami witnessed a transition in its leadership with appointment of Syed Amir Ali as the President and CEO who is a seasoned professional with over 20 years experience to his credit. With change at the helm of the Organization, the Bank underwent an internal reorganization to optimize its management structure and operational platform. This reorganization was carried out to (i) promote business transformation and innovation, (ii) enhance service and performance standards, (iii) strengthen Bank’s financial profile to counter potential economic shocks, and (iv) generate healthy returns for its stakeholders. BankIslami has also received the accolade of ‘Most Innovative Banking Solution Provider - Bio metric’ at International Finance Banking Awards 2018, for its Bio Banking service. This service has now been branded as ‘One Touch Banking’ and was formally launched in February 2019. This has enabled the Bank’s customers to carry out transactions by using their thumb impression.

  • Karachi ,

Bankislami Pakistan Limited becomes the first Islamic Bank to become part of K-Electric's Centralized Billing Mechanism and Corporate Services Program

KARACHI, February 22, 2019: BankIslami Pakistan Limited (BankIslami) has entered into an agreement with K-Electric Limited (KE) to enrol in their Centralized Billing Mechanism (CBM). By signing the agreement, BankIslami becomes the first Islamic bank to enter this program. The signing ceremony was held at BankIslami head office, attended by Mr. Farooq Anwar, Head of Operations, BankIslami, Sadarudin Pyar Ali, Head of Administration, Bankislami,and Mr Amer Zia, Chief Distribution Officer, K-Electric, amongst other senior executives of both companies. Under the agreement, CBM consumers will be able to make a single centralized payment to pay for multiple due payments for all their KE meter connections. A designated KE Corporate Consumer Desk will also be available to assist consumers to facilitate them in exemptions from late payment surcharges and exemption from disconnection. The desk will also fast-track processing of new connection requests and serve as a way to promptly resolve technical or billing complaints. Furthermore, a "Change of Name" facility on long-term tenancy agreements will be available to enable customers to file speedy tax returns and claim withholding tax on a priority basis. It is important to mention that this arrangement is exclusive and is not available to all K-Electric consumers. Certain pre-qualification requirements, such as verifiable payment history, etc. must be fulfilled to avail the CBM which BankIslami has successfully completed. At the signing ceremony, Mr Sadarudin Pyar Ali, Head of Administration, BankIslami said “It is a sign of dynamic and progressive companies to always seek improvement in processes to enable faster growth. Being part of KE’s centralized billing mechanism is a progressive step towards adopting best practices that are mutually beneficial to both organizations and foster a corporate culture of innovation.” Speaking at the signing ceremony Mr. Amer Zia, CDO said,” K-Electric is continuously driving improvement in growth and quality of service is strongly linked to the consumers. To recognize and appreciate conscientious and prompt due payments by the consumers, KE is introducing the Centralized Billing Mechanism - CBM.” As part of its ever expanding Islamic Banking footprint, BankIslami focuses on products and partnerships that will enable its customer base with the latest technologies and innovations taking place in the banking industry.

  • Karachi ,

BankIslami Introduces ‘OneTouch Banking’ a Complete Biometric Banking Solution for the First time in Pakistan

KARACHI, February 8, 2019: With the growing prevalence of technologically advanced solutions in banking industry, BankIslami breaks through the industry with OneTouch Banking, a complete Biometric solution which enables you to carry out all your transactions by just an impression of your thumb. BankIslami, for the first time in Pakistan, introduces One Touch Banking where your Thumb is your Bank, at a ceremony held in Karachi where President & CEO of BankIslami along with the Bank’s top management and Moin Khan, the Brand Ambassador of BankIslami, unveiled its technologically advanced One Touch Banking solution. OneTouch Banking is envisioned to be a robust mechanism for safe, secure and swift transactions with the aim to ensure seamless customer experience through the ambits of convenience because now you always have your bank with you; that is your thumb. This facility enables you to carry out any transaction be it Cash Withdrawal, Interbank funds transfer, Payorder issuance, Utility bills payment, Mobile Top up or Dormant Account activation by using your thumb impression, without needing an ATM card or cheque book. Syed Amir Ali, President & CEO of BankIslami at the ceremony said “We have always endeavored to provide superior value to our customers and we are confident that this time again our comprehensively designed biometric solution will serve its core purpose and make banking easier for our customers like never before, as now Your Thumb is Your Bank” BankIslami has been the pioneer of biometric banking solution since its inception for which it has also been awarded as the “Most Innovative Banking Solution Provider in Pakistan” by International Finance Magazine. The Bank will continue to focus on technological transformation by exploring new horizons to serve its customers better.

  • Karachi, November 16, 2018:

BankIslami extends Strategic Alliance with Premier systems (Pvt) Ltd (Audi Pakistan)

BankIslami Pakistan Limited, one of the leading Islamic banks of Pakistan, has extended its agreement for the year 2018, with Premier System (Pvt) Ltd. (Audi Pakistan) Pakistan's No. 1 luxury premium automobile brand. With the successful completion of two years of Alliance, both BankIslami and Audi Pakistan have reaffirmed to mutually serve the Automobile Industry of Pakistan and offer customized financing packages to Audi customers across the country through the flagship product of Islami Auto Finance.

Mr. Bilal Fiaz – Head of Consumer Banking, BankIslami and Mr. Muhammad Yasin Khan – Chief Financial Officer (CFO)- Premier Systems (Pvt) Ltd. (Audi Pakistan), laid the cornerstone of this partnership by signing the agreement in a meeting held in Karachi.

Speaking on the occasion, Mr. Bilal Fiaz said, “With the success of our initial agreement executed in May 2016, this extension of Alliance is a milestone, not only for both the organizations but also for the customers who will greatly benefit from our uniquely structured auto financing solutions.

Mr. Muhammad Yasin Khan, added: “This initiative has created an ideal scenario for both, BankIslami and Audi Pakistan as it will enable us to offer best value proposition to our valued customers.”

Mr. Bilal Fiaz – Head of Consumer Banking, BankIslami and Mr. Muhammad Yasin Khan, CFO Audi Pakistan shaking hands on the occasion of signing ceremony.

  • Karachi, November 06, 2018:

BankIslami partners with Indus Motor Company to offer customized financing solutions

BankIslami Pakistan Limited has signed a Memorandum of Understanding (MoU) with Indus Motor Company Limited (IMC) to offer customized financing packages to IMC customers of Toyota Fortuner, Revo, Camry, and Rush across the country. The Bank will offer these financing options through its flagship product 'Islami Auto Finance'.

Mr. Bilal Fiaz – Head of Consumer Banking, BankIslami and Mr. Syed Omar – General Manager- Sales, IMC, laid the cornerstone of this partnership by signing the agreement in a meeting held in Karachi.

Speaking on the occasion, Mr. Bilal Fiaz– Head of Consumer Banking, BankIslami, said, “The collaboration is a milestone not only for both the organizations but also for the customers who will greatly benefit from our uniquely structured auto financing solutions. This relationship will certainly help BankIslami and IMC explore new avenues to benefit our customers.”

Mr. Syed Omar – General Manager- Sales, IMC, also expressed his views saying, “This initiative will create an ideal scenario for both the organizations and will enable us to offer best value proposition to the customers.”

BankIslami is one of the largest Islamic Banks of Pakistan and offers Shariah compliant products and services for all segments of the society. Indus Motor Company Limited (IMC) manufactures and markets Toyota branded vehicles in Pakistan.

Mr. Bilal Fiaz – Head of Consumer Banking, BankIslami and Mr. Syed Omar – General Manager- Sales, Indus Motor Company Ltd. shaking hands on the occasion of signing ceremony.

  • Karachi, April 19 - 2018

BIPL Material Information Honorable Sindh High Court

  • 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”

BankIslami Pakistan Signs Agreement with 1LINK To Launch PayPak Debit Card

  • 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”.

ABOUT 1LINK

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.

ABOUT BankIslami

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.

BankIslami Pakistan Signs Agreement with 1LINK To Launch PayPak Debit Card

  • 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

BankIslami Pakistan & Lootlo.pk , a leading online shopping portal  in Pakistan, have signed a strategic alliance ,enabling the BankIslami Visa Debit Card holders to avail discounts on internet shopping .The Website www.lootlo.pk is an e-Commerce Business  forum that enables consumers to shop for items such as Home & Living, Clothing & Accessories (for Men Women & Children), Food & Entertainment, Saloons & Spas, Electronic Items, Car Accessories, Education, Travel & many more at Discounted Rates with door-step delivery.  . BankIslami customers will now be able to avail over & above 15% discount by activating their online shopping facility on their Debit Cards. Moreover; the Customers can shop without any hassle with a separate BankIslami quoted price through which they can pay conveniently, providing them the complete online shopping experience. Speaking on the occasion, Mr. Fahad-C.E.O & Director said: “We are delighted to introduce our internet shopping facility to BankIslami’s growing customer base in the emerging Pakistani market. Mr. Muhammad Amjad Khan added: “We are excited about this partnership as we embark upon new initiatives to cater to our customers’ individual needs. We also plan to introduce new digital options for our customers to keep up the pace with changing technology landscape in the Banking Sector.

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 Pakistan & Mastercard, a leading technology company in the global payments industry, have signed a strategic alliance to initiate "BankIslami Mastercard Program". As part of the collaboration, BankIslami's customers can look forward to enjoying the benefits of the Titanium Debit card, while using it for their local and international financial needs. BankIslami's Mastercard Titanium Debit card will be powered by Mastercard's chip-enabled technology to provide maximum security to cardholders, who will also benefit from the Biometric-enabled features of BankIslami's cardless ATMs. The agreement was signed by Mr.Khalid Elgibali, Division President for Middle East and North Africa, Mastercard and Mr.Hasan A. Bilgrami, CEO BankIslami, in the presence of a number of senior Mastercard and BankIslami officials. Speaking on the occasion, Aurangzaib Khan, Area Head, Pakistan and Afghanistan, Mastercard, said: "We are delighted to introduce our Titanium Debit cards to BankIslami's growing customer base in the emerging Pakistani market. Together with Mastercard's strong safety and security features, the card offers consumers a great option to conveniently pay for everyday services." Mr. Hasan A. Bilgrami CEO BankIslami added: "We are excited about this partnership as we embark upon new initiatives to cater to our customers' individual needs. Further, we also look forward to working with Mastercard in developing new services with our existing Biometric capabilities."

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 Pakistan Limited ('BankIslami'), and Ria Money Transfer ('Ria'), the third largest money transfer company in the world, have partnered to offer money transfer payout services in Pakistan through Bankislami's 317 branches across 93 cities. This agreement allows customers from all over the world to send money to their beneficiaries in Pakistan through BankIslami, with greater convenience for their family and friends. Beneficiaries can now collect cash in minutes from BankIslami branches across Pakistan without the need for an account, while account holders can also receive funds directly to their account. Hasan A. Bilgrami, CEO of BankIslami, said, "Through this partnership, BankIslami will provide beneficiaries of Ria with easy collection of remittances from our 317 branches nationwide. We welcome Ria on board." Juan Bianchi, CEO and President of Ria Money Transfer, added, "Ria is pleased to welcome BankIslami as our newest partner in Pakistan. Ria strives to provide fast, secure and affordable money transfer services for customers to send money home to their loved ones. With BankIslami, we're able to serve more people looking for a convenient and reliable remittance service."

BankIslami signs Strategic Alliance with Ria Money Transfer

  • Karachi, 20th October 2016

BankIslami posts pre-tax profit of PKR 1,006 Million

BankIslami Pakistan Limited has reported positive results by posting a profit before tax of Rs. 1,006.4 million for the nine months ended on September 30, 2016. The Bank recorded an increase of 6.87% in Deposits, from the same period last year, which crossed Rs. 155 billion. The Asset Base has grown significantly and closed at Rs. 192.8 billion denoting an increase of 6.78% from the same period last year. The Bank's deposit mix has also improved, which constituted 70.53% of the Current and Saving Accounts ('CASA'), due to which the cost of fund has declined by 154bps. "Focus on Consumer Financing, particularly Auto Finance & Non-Funded Income, improved the bottom line of the Bank to Rs.595 million as compared to Rs. 135 million for the same period last year. Key initiatives taken during the quarter include launch of mBankIslami (Bank's mobile app), repackaged version of Auto Finance product, Diminishing Musharakah product for corporates & remittance agreement with Ria Financials Services, a globally renowned money transfer company. These initiatives will contribute to the bottom line going forward". said Hasan A. Bilgrami, CEO, BankIslami. The Bank received 'Transaction for the Year 2015 - Runners Up' award from the CFA Society, Pakistan for 'Acquisition of defunct KASB Bank', which is an acknowledgment of excellence by the financial fraternity on the transaction.

  • 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

BankIslami has signed an agreement with Akhuwat Foundation, an Interest free Micro-finance NGO. Under the agreement, BankIslami will provide Cash Management solutions to Akhuwat for the distribution of Qarz-e-Hasna Scheme (Interest Free Loans). Loan disbursement will take place through BankIslami's nationwide network of 317 branches. Akhuwat is known for running World's largest interest free micro finance NGO network with over 500 camp offices nationwide. Agreement was signed by Mr. Hasan A. Bilgrami, Chief Executive Officer- BankIslami and Dr. Muhammad Amjad Saqib, Executive Director- Akhuwat. Speaking on the occasion, Mr. Hasan A. Bilgrami said: "Alliance with Akhuwat will go a long way in providing facility to the borrowers of Qarz e Hasna Scheme. BankIslami will also contribute its share in this noble cause of serving the under privileged segments of the society". Dr. M. Amjad Saqib also added that "We are proud to partner with BankIslami and we appreciate their support for 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

Honda Atlas Cars (Pakistan) Limited and BankIslami Pakistan Limited have joined hands to offer their customers with valuable Honda products coupled with Shariah compliant Auto financing solutions. This partnership was agreed upon in a meeting held at Lahore. Mr. Yasser Abbas, Section He Auto Ijarah BankIslami and Mr. Nadeem Azam, General Manager Sales & Marketing Honda signed the agreement. On the occasion Mr. Yasser Abbas said "The agreement is a milestone not only for both the organizations but also for customers who will greatly benefit from this exciting offer." Mr. Nadeem Azam also expressed his views "This initiative will create an ideal scenario for all the three parties concerned.
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

BankIslami's attention is drawn to advertisements appearing in a section of press on April 08 where an impression has been created that Cardless Biometric ATM services have been offered first time in Pakistan. The factual position is, BankIslami is the pioneer of using Biometrics in banking not only in Pakistan but in certain applications globally. The Bank has been using Biometrics in account opening and verification since 2006, ten years before SBP prescribed its use. Cardless biometric services were launched in 2012 across the network. BankIslami remains the market leader in Industry both in terms of volume and product offering where its position is not likely to be threatened due to the largest proprietary database by any business in Pakistan in next four to five years. Being the pioneer and market leader, we welcome other banks who have ventured into this area and assure them of our assistance for the ultimate benefit of consumers in Pakistan.

  • Karachi, February 15, 2016

Strategic Alliance of BankIslami Pakistan Limited & FAW Motors

BankIslami Pakistan Limited & Al-Haj FAW Motors Pvt. Limited signed an agreement whereby both BankIslami & FAW motors agreed to mutually work together for the sales of FAW vehicles through BankIslami's Islami Auto Ijarah.This alliance will also help customers to get the financing of FAW vehicles through BankIslami with competitive offerings on security deposit and ijarah rentals.

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

BankIslami Pakistan Limited signed an agreement with KFC Pakistan to provide amazing Discount Deals to all BankIslami Visa Cardholders. Now Cardholders can avail BankIslami Zinger Deal & BankIslami Family Deal with an amazing Discount of upto 40%. These deals can be availed from 18th February, 2016 onwards on all Dine-Ins & Take-Aways at all 62 KFC Outlets nationwide.

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

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.

  • Karachi, November 30,2015

BankIslami Clarification on Media Program

Karachi 30th November 2015: 'Our attention is drawn to a program conducted on a media channel in which it was claimed that BankIslami has unearthed any money laundering scam in the affairs of the defunct KASB Bank. An impression was also given as if BankIslami has either released some material or spoken with media on that issue. It is clarified neither BankIslami has issued any material or spoken with anyone on the subject issue. It is further clarified subsequent to takeover of the defunct KASB Bank, BankIslami has only started compliance of various instructions of the State Bank of Pakistan issued to defunct KASB Bank, which, interalia, includes certain corporate governance, know your customer (KYC) and management issues which requires involvement of investigation agencies. Till such time investigations are completed and an opinion is formed by a Court of Law, BankIslami would like to refrain from naming anyone in the media to maintain professional ethics. We would further like to distance ourselves from any subsequent coverage on this or related issues'.

  • Karachi, October 16,2015

Unique Ad - Urdu

  • Karachi, October 15,2015

Unique Ad

  • Karachi, October 7,2015

Facts are different than What You are Told - Urdu

  • Karachi, October 6,2015

Public Notice - Urdu

  • Karachi, October 6,2015

Facts are different than What You are Told

  • Karachi, October 5,2015

Public Notice

  • Karachi, October 1,2015

Still Counting - Urdu

  • Karachi, September 30,2015

Still Counting , Public Notice - Urdu

  • Karachi, September 29,2015

Public Notice

  • 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

Karachi June 11, 2015 : BankIslami Pakistan Limited formally started Islamic Banking Training Program for Senior ex - KASB employees as a capacity building measure and to help them assimilate better in the amalgamated entity. Mr.Yavar Moini, Director Islamic Banking, State Bank of Pakistan inaugurated the program. While addressing the ex- KASB staff at the inauguration ceremony, Mr. Yavar Moini Director Islamic Banking State Bank of Pakistan, said that they are very fortunate that they are receiving training from one of the best practitioners in the industry who also work with the State Bank on different committees & sub committees. He further reiterated that Islamic Banking is growing globally and it is the right time to be part of the industry which is growing very fast and which currently holds 10% market share of the entire banking industry in Pakistan. He added that State Bank aim is to make it a dominant system in coming years. He also quoted Quaid e Azam Muhammad Ali Jinnah's vision to develop Pakistan's economy on the principles of Islamic Financial System.

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

Karachi May 21, 2015 : BankIslami Pakistan Limited formally started an Internal Hiring program for former KASB employees to help them assimilate better in the amalgamated entity. While interacting with former KASB employees at launching ceremony of Internal Hiring initiative, Mr. Hasan A Bilgrami, CEO BankIslami, reiterated that the Bank shall ensure maximum job security and adjust the staff in internal placements by training them in Islamic Banking as well as other job related skill set.

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

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, 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, 15. July 2013

PACRA ratings for BankIslami

  • Karachi, June 28, 2013

Obituary (Dr. Fazlur Rehman - Chairman Shariah Board BankIslami Pakistan Limited)

  • 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.

  • June 30, 2011

PACRA maintains entity ratings of BankIslami

  • 27 December 2010

BankIslami signs deal for acquisition of CitiBank House Financing Portfolio

Karachi 27th December 2010: BankIslami has signed first of its kind deal to acquire CitiBank Pakistan's House Financing portfolio amounting to Rs. 953 million. This is the first time a Bank has acquired mortgage assets of another Bank. It is expected that this transaction will open door for other similar transactions enabling banks to acquire entire business or product lines. The added significance of the transaction is that this is the first time an Islamic bank has acquired business of a conventional bank. The transaction will be viewed closely by Islamic banks and regulators around the world, as globally Islamic banking Industry is more liquid than their conventional counterparts, there by creating an alternate route of deployment of liquidity and further accelerating the growth of the Industry. Speaking on the occasion CEO BankIslami, Mr. Hasan A. Bilgrami said that this acquisition will serve as a milestone for the Islamic Banking industry in Pakistan and elsewhere. Further, he stated that the acquisition of the Housing portfolio is in line with BankIslami's growth strategy in this segment. CitiBank's Housing finance customers will now required to be switched to Islamic mode of financing. "The transition for the customers to BankIslami will be made easy and convenient" CEO BankIslami said. Earlier, the Bank raised upto 102 branches in less than three years which is a record in itself. Despite a general slow down in the Banking Industry, BankIslami has recorded CAGR of 72% in the last two years alone making it one of the fastest growing bank in the country.

  • 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

  • 29th January 2010

State Bank of Pakistan grants permission to BankIslami for EGIBL Due diligence

  • 4th Nov 2009

BankIslami crosses 100,000 customer base

Karachi November 02, BankIslami Pakistan Limited, announced today that its customer base has crossed 100,000 mark. The Bank registered spectacular increase of 110% in the first 10 months of the year by establishing 52,500 relationships. This growth has helped BankIslami to register almost 100% growth in deposits as against 8% for the industry. In the last three years BankIslami has recorded consistent growth ir-respespective of market conditions. Earlier, it created history by opening more than 100 branches in less than three years. It is one of the three Banks in Pakistan where the rating has been up graded in 2009. The Bank is all set to break even in the fourth quarter this year. Speaking in the occasion , Ayesha Ashraf Jangda , a spokeswoman of the Bank thanked the customers for their confidence and trust. At the same time it clearly shows the immense potential Islamic banking has within the country.

  • 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

  • 2nd July 2009

PACRA upgrades entity rating of BankIslami Pakistan LImited.

  • 31st December 2008

BankIslami Creates History by setting up 102 Branches in just over two years

Karachi 31st December 2008: BankIslami has created history by setting up 102 branches in 49 cities across Pakistan in just over two years of its operations. This is the fastest ever branch growth by any bank in Pakistan's banking history. Talking at the ceremony to mark this achievement, Mr. Hasan A. Bilgrami, CEO BankIslami said that 102 branches covering 49 cities across Pakistan have made BankIslami the fastest growing Islamic Bank in Pakistan. He added that more than 40% of the Branches cater to the un-banked rural/sub-urban areas of the country. He further said that, all 102 BankIslami branches are online, which enable BankIslami customers to make transactions and access their accounts anywhere across the network in 49 cities. BankIslami has taken lead to provide its customers with value added services including Biometric ATM, Internet Banking and ATM based Inter Bank Fund Transfer.

  • 5 November 2008

Dispatch of Letter of Right

  • 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.

(Rs. in m) Jun-08 Jun-07 Growth (%) Total Deposits 11,353 4,196 171% Total Assets 16,581 7,824 112% Total Financing-net 5,387 2,188 110% Total Investments 3,841 645 496% Share Capital 4,280 2,975 44% Shareholder's Equity 4,232 3,171 33% Net Spread Earned 289 117 147% Fee, Commission & Brokerage Income 81 10 690% Operating Expense to Gross Income (%) 56.70 82.81 -32% Loss Before Tax -12.53 -49.87 -75% Loss After Tax -9.92 -37.24 -73% EPS (Rs.) -0.02 -0.13 82% Employees 722 413 75% Branches 36 14 157%

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

KARACHI, July 17, 2008. The Pakistan Credit Rating Agency (PACRA) has maintained the long-term and short-term entity ratings of BankIslami Pakistan Limited (BIPL) at A- (Single A Minus) and A2 (A Two) respectively. These ratings denote a low expectation of credit risk emanating from a strong capacity for timely payment of financial commitments. The ratings reflect BIPL's articulated business plan to fast establish itself as an active player in the emerging Islamic banking segment. The bank, in a short span of time, has set up an adequate operating platform, supplemented by an effective risk management framework, to execute its overall business plan. However, the extent to which the strategies materialize into desired results, and the related timeline remain to be seen. At the same time, the ratings take into account the sound financial standing of the sponsoring groups. About the bank: BankIslami Pakistan Limited, commencing operations in Apr06, is listed on the Karachi Stock Exchange. BIPL is a joint venture among three financially sound business groups, holding a cumulative of 56% stake, namely DCD Group UK, Dubai Bank PSJC, and Jahangir Siddiqui & Company Limited (JSCL). With its head-office in Karachi, the bank currently has a network of 36 branches. DCD, a UK based Group having stakes in diversified businesses, has participated in the establishment of various Islamic Banks in different countries. Dubai Bank PSJC, an Islamic bank, is 70% owned by Dubai Holdings, while the remaining 30% is with Emmar Properties. JSCL is the holding company of JS group-having presence in all important dimensions of the financial sector. Download PACRA Rating Rational

  • 23 April 2008

BankIslami lead manages privately placed PEL sukuk of Rs. 1.1.Billion

Karachi 23rd April 2008: BankIslami Pakistan Limited, lead managed a 7 year Privately Placed Shariah Compliant Sukuk of Pak Elektron Limited (PEL) based on Diminishing Musharakah. This was announced here today. With an instrument rating of ?A+? assigned by PACRA, the issue has been well received in the market and has been oversubscribed. Funds from the Sukuk will be utilized towards adjustment of existing credit lines available from conventional banks with Islamic mode of financing. BankIslami is a full fledge Islamic Bank operating with 36 online branches in 23 cities nationwide and is represented by a renowned Shariah Board. BankIslami is pursuing an aggressive growth strategy which includes penetration in the rural and urban areas and is committed to introducing value added innovative products for both corporate and consumer banking sector.

  • 18 April 2008

BankIslami's Shariah Board Chairman Mufti Muhammad Taqi Usmani approves the Shariah compliance review of the Bank

Karachi, Friday 18th April 2008: BankIslami's Sharia'h Board Chairman Mufti Muhammad Taqi Usmani chaired the fourth Shariah Supervisory Board Meeting of BankIslami Pakistan Limited here at BankIslami's Head Office. Present on the occasion other members of the Sharia'h Board Professor Dr. Fazlur Rehman and Mufti Irshad Ahmed Aijaz (Sharia'h Adviser) discussed and approved the business carried out by BankIslami in perspective of performance for the year ended December 2007 and did a Sharia'h compliance review of the bank. All business transactions were approved without any income being classified as charity. BankIslami Shariah Board Chairman Mufti Muhammad Taqi Usmani also appreciated the growth strategy carried out by BankIslami which will expand its operations to 100 branches in 40 cities nationwide by the end of December 31,2008.

  • 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

Karachi: Saturday March 29th: BankIslami is all geared up to become a 100 Online Branch Network Bank by December 2008. This was announced at the Annual General Meeting held at a local hotel here on Saturday. After achieving the milestone of opening 36 branches in 23 small and big cities across the country in 2007, the Bank is set to cross the 100 branches network mark by December 2008. BankIslami in its Annual General Meeting announced the financial results of the year ended December 2007. The highlights of the results presented truly showed the aggressive growth of the Bank where the Assets grew up by 358% to stand at Rs. 14.4 Billion, Deposits raised by 560% to reach at Rs. 10 Billion and the financing amount was increased by 413% to stand at Rs. 3.9 Billion. As a result of massive growth, the Bank posted a net loss of 35 million rupees. However, despite of almost three fold increase in the network, the Bank shall report a profit for the year end 2008. BankIslami is a full fledge Islamic Bank and is represented by a 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.

  • 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.

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.

  • 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

Karachi (Sept 25, 2007)Pak Elektron Limited (PEL) has raised funding of Rs. 1.2 billion through a 5 years Privately Placed Shariah Compliant Sukuk based on Diminishing Musharakah. BankIslami lead managed the issue. With an instrument rating of “A+” assigned by PACRA,the issue has been well received in the market and has been oversubscribed by two times of its total size. Funds from the Sukuk will be utilized towards adjustment of existing credit lines available from conventional banks with Islamic mode of financing. Pak Elektron Limited (“PEL”) was incorporated in Pakistan on March 03,1956 as a public limited company and is currently listed on all Stock Exchanges of the country. The company is a leading manufacturer of power equipment and home appliances products.

  • 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: https://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.
View it at :https://www.arabianbusiness.com/500352-pakistani-bank-switches-to-sun-

  • 18 August 2007

BankIslami buys JS Finance Limited

KARACHI, July 18, 2007. BankIslami has reached an agreement to purchase 100 per cent shareholding in JS Finance Ltd, a modaraba management company, from Mr. Jahangir Siddiqui and DCD Investment Ltd. The State Bank had granted approval to this deal. BankIslami is a joint venture between Dubai Bank, DCD Group of UK and Jahangir Siddiqui and Company Limited with each owning 18.75% of the Bank. There has been no change in the ownership of BankIslami after the acquisition of JS Finance Ltd. JS Finance is a registered Modaraba Management Company licensed by the Securities and Exchange Commission of Pakistan. The company has one modaraba under its management, Modaraba Al Mali which is the listed on the Karachi Stock Exchange.

  • 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.

Registration Process

  • 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

  • Daily
  • Weekly
  • Monthly
  • Semi Annually

  • 18 July 2007

AJK President lauds BankIslami, visits branch in Mirpur

MIRPUR, July 18, 2007. With the initiation of BankIslami’s services, people in this part of the country would be greatly facilitated owing to the Shariah compliant products being offered by the institution. This was stated by the President of Azad Jammu and Kashmir, Raja Zulqarnain Khan, here on Wednesday during a visit to the recently opened branch of BankIslami. Lauding the services of the institution, he assured full assistance to the Bank on part of the AJK government. Briefing the AJK president, BankIslami President & CEO Mr. Hasan Bilgrami said that the bank is aiming at taking Shariah compliance to a level extending it to marketing, human resources and general outlook. He said that the bank offers a full range of Shariah compliant commercial banking products and services such as current accounts, saving accounts, foreign currency accounts and term deposits. Highlighting the products offered in the field of corporate banking, he said that the bank is offering working capital finance, medium and long term finance, leasing, Islamic export refinance scheme and structured finance, letter of credit, letter of guarantee, forward cover, bill purchase, car and house financing. Mr. Bilgrami said that the BankIslami has taken  lead in a number of products such as deployment of Biometric ATMs, introduction of new GBNA based Biometric Depository ATMs, use of voice recognition technology in phone banking and MUSKUN home financing product which is available for people earning as low as Rs. 15,000 per month. He said that recently the BankIslami also signed an agreement with Path Solutions for the procurement of modern Shariah-compliant banking system software. Besides, it became the first Islamic bank in the country to have introduced online Inter-Bank Fund Transfer (IBFT) facility for its customers through ATMs, he added. The bank’s Shariah Adviser, Mufti Irshad Ahmed Aijaz, explained the overall concept of Islamic banking and the products offered by the bank in this respect. He said that Islam strictly prohibited interest as the Islamic financial system advocated the concept of participation in the enterprise, utilizing the funds at risk on a profit and loss sharing basis. This by no means implied that investments with financial institutions were necessarily speculative, he said adding that this could be excluded by careful investment policy, diversification of risk and prudent management by Islamic financial institutions. Mufti Irshad said that it is possible, that investment in Islamic financial institutions could provide potential profit in proportion to the risk assumed to satisfy the differing demands of participants in the contemporary environment and within the guidelines of the Shariah. Later, an open house was also organized to further inform the masses and the potential clients on the  concept of Islamic banking and the products being offered by the Bank.

  • 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:
ABN AMRO
Allied Bank
Askari Commercial Bank
Bank Al-Habib
BankIslami Pakistan
Habib Bank
PICIC Commercial
Soneri Bank
United Bank
on Bank
NIB
Advantage of IBFT
Convenience
Easy to use
Instant Transfer i.e. Online
Secure
7x24 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 Process
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

  • 11 July 2007

PACRA assigns A- (Long Term) and A2 (Short Term) credit rating to BankIslami.

KARACHI, July 11, 2007. The Pakistan Credit Rating Agency (PACRA) has assigned a long-term rating of A- (Single A Minus), and a short-term rating of A2 (A Two) to BankIslami Pakistan Limited. These ratings denote a low expectation of credit risk emanating from a strong capacity for timely payment of financial commitments. The ratings reflect the management’s well-conceived business strategy to become an active player in the seemingly promising Islamic banking segment. In a short span of time, BIPL has established an effective operating platform, and is well positioned to execute its overall business plan. Meanwhile, the ratings also take into account the sound financial standing of the sponsoring groups. However, the extent to which the strategies materialize into desired results, and the related timeline remain to be seen. Meanwhile, the newly developed systems and processes of the bank also need to be tested. About the bank: BankIslami Pakistan Limited (BIPL), a scheduled Islamic bank, commenced operations in March 2006 and is currently listed on the Karachi Stock Exchange. BIPL is a joint venture among three financially sound business groups, namely DCD Group UK, Dubai Bank, and Jahangir Siddiqqui Company Limited (JSCL). Each group has 18.75% stake in the bank, while the remaining holding is with various institutional investors and the general public. With its head-office in Karachi, the bank currently has a network of 13 branches, and a head count of over 350 employees. DCD, a UK based Group having stakes in diversified businesses, has recently started participating in the establishment of various Islamic Banks in different countries. Dubai Bank PSJC is 70% owned by Dubai Holdings, while the remaining 30% is with Emmar Properties. Dubai Holdings is the investment arm of the government of Dubai. JSCL is the holding company of Jahangir Siddidui group – a known group in the financial sector. The seven-member BoD comprises representatives of sponsoring groups. The Chief Executive Officer, Mr. Hasan A. Bilgrami, is a qualified professional having extensive experience with leading financial institutions. He has played an active role in the development of the Islamic banking policies and products in the country.

  • 6 July 2007

BIPL becomes the First Bank to introduce new GBNA based Biometric Deposit ATM in Pakistan.

KARACHI, July 06, BankIslami Pakistan Limited is a dedicated Islamic commercial bank operational in Pakistan since April 7th, 2006. BankIslami offers full range of shariah compliant commercial banking products and services. Since inception, BankIslami has considered IT as one of the key success drivers and has displayed it through several “First in the Market” initiatives.  This includes achievements such as “First Bank to install Biometric ATM in Pakistan”, “First Bank to have Large Scale Enterprise wide Linux Implementation” and “First Bank to deploy Enterprise Wide IP Telephony Infrastructure”. The most recent additions to long list of initiatives is deployment of “The First Bank to introduce new GBNA based Biometric Deposit ATM in Pakistan”. This new ATM facility would allow the BankIslami customers to deposit cash directly in their account at anytime. This new Global Bunch Note Acceptor technology based Biometric Deposit ATM is highly secure and is capable of accepting 100 notes at a time. BankIslami presently has 14 operational branches and plans to expand its nationwide network to 100 new branches in 50 cities within the next three years. Each branch would be equipped with self servicing machines such as Biometric Deposit ATMs and Internet banking Kiosk. The objective of BankIslami is to provide authentic shariah complaint products through state-of-the-art customer facilities.

  • 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. https://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"

3rd May 2007: BankIslami launches MUSKUN with the disbursement to its first customer. BankIslami's MUSKUN is the simplest and the most convenient Shariah compliant way to own a home. Endorsed by the reputable Shariah Supervisory Board, MUSKUN is a personalized financing plan that brings to the home of one's choice within one's reach. BankIslami is the first bank to have launched a home financing product which would be available for income groups as low as Rs. 15,000/- per month. An added attraction is that the product is available for all areas i.e. There are no negative areas. Speaking on the occasion President and CEO Mr. Hasan A. Bilgrami said that "Introduction of MUSKUN is a step in the direction of offering personalized Shariah compliant products to all the financial strata. With the launching of MUSKUN BankIslami has added another milestone in its Shariah compliant product menu. BankIslami is all geared up to become the leading service provider in authentic Islamic Banking reaching out to the masses with 28 branches by end of the year". Currently, it is only to be availed in Karachi. We expect to launch this product nationally Inshallah very soon. Initially, we are dealing with home purchace (purchasing a residential property) and replacement (transfering a conventional mortgage to Islamic). Some salient features of MUSKAN are: - All income groups above 15k are eligible to apply - There are no negative area and professions - Quick processing - Financing up to 80% of the value of the property - Financing limit 50 Million - Tenor up to 20 years - No Pre Payment Penalty after One Year - Flexible & affordable installaments with reducing rentals - Clubbing of family income - Special financing available for Non-Residents Pakistanis (NRPs) For more information please contact our 24/7 Phone Banking at 111-BIP (247)-111 or 111-ISLAMI (111-475-264)

  • 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:https://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

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Protecting Your Payment Cards (Do’s and Don’ts)


Know Your Rights & Responsibilities (Urdu)


Know Your Rights & Responsibilities (English)


Notice for Locker Holder Read More


Business Recorder (25th November 2014): SBP Press Release on Banks Quite Stable Read More


Public Awareness (Urdu)


Public Awareness (English)