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MCB Bank Limited. MCB Islamic Bank Limited. Meezan Bank Limited. National Bank of Pakistan (NBP) Soneri Bank Limited. Standard Chartered Bank (Pakistan) Limited (SC Pakistan) Sindh Bank. The Bank of Tokyo-Mitsubishi UFJ (MUFG Bank Pakistan) United Bank Limited (UBL)
BankIslami Pakistan Limited was the first bank to receive an Islamic banking license under the Islamic banking policy of 2003 on 31 March 2005. The bank envisioned focusing primarily on wealth management as the core area of business in addition to sharia-compliant retail banking products, Proprietary and Third-party products, and Integrated ...
Faysal Bank started in Pakistan in October 1987, with a tiny branch and as a subsidiary of Faysal Islamic Bank, a Bahraini bank owned by Mohammed bin Faisal Al Saud, the son of the late King Faisal of Saudi Arabia. [4][5] The bank was part of a broader initiative by the Dar al-Maal al-Islami Trust (DMI), a Geneva-based organization founded in ...
MCB Bank Limited (Urdu: ایم سی بی بینک) is a Pakistani multinational commercial bank which is based in Lahore, Punjab, Pakistan. The majority of shares are owned by Pakistani conglomerate Nishat Group and Malaysian bank Maybank. The bank has a network of 1600 branches and over 1450 ATMs in Pakistan. The current President/CEO of the ...
Al Baraka (Pakistan) Limited (ABPL) (Urdu: البراکہ بینک پاکستان) is a Pakistani Islamic bank headquartered in Karachi. [2] It is a subsidiary of the Al Baraka Banking Group, a Bahrain-based Islamic banking group. [3] It came into being as a result of the first merger in the Islamic Banking sector of Pakistan. [4]
Meezan Bank was founded as an Islamic investment bank in 1997 by Noor Financial, Pak Kuwait Investment Company, and Islamic Development Bank. [4] It was then known as Al-Meezan Investment Bank. [5] In 2000, Meezan Bank was listed on the Karachi Stock Exchange. [6] In 2002, Meezan Bank acquired Pakistan operations of Société Générale. [7]
Islamic banking, Islamic finance (Arabic: مصرفية إسلامية masrifiyya 'islamia), or Sharia-compliant finance[1] is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economics. Some of the modes of Islamic finance include mudarabah (profit-sharing and ...
As of Sep, 2020, Islamic banking industry (IBI) assets and deposits of the overall banking industry stood at 16.0 percent and 17.3 percent, respectively. [ 2 ] As of Sep, 2020, the infrastructure of IBI in Pakistan consists of 22 Islamic banking institutions (IBIs), 5 full-fledged Islamic banks (IBs), and 17 conventional banks with standalone ...