BankIslami Pakistan Limited
Encyclopedia
BankIslami Pakistan Limited (“BankIslami”) is located in Karachi
, Sindh
, Pakistan
. BankIslami Pakistan Limited was the first Islamic Commercial Bank to receive the Islamic banking license under the Islamic banking policy of 2003 from State Bank of Pakistan
on March 31, 2005. The Bank started its operations from April 7, 2006 and offers shariah compliant retail banking, investment banking, consumer banking and trade finance products. The Bank intends to focus on Wealth Management as the core area of business and plans to soon launch Proprietary products, and Integrated financial planning services.
The Bank has a nationwide presence, its branch network consists of 102 branches & sub branches spread over 49 cites of Pakistan.
. The Bank is also publicly traded on the Karachi Stock Exchange.
have been done by the same calligrapher Shafiq uz Zaman who has been working in the Holy Mosque of Medina
in Saudi Arabia
.
Karachi
Karachi is the largest city, main seaport and the main financial centre of Pakistan, as well as the capital of the province of Sindh. The city has an estimated population of 13 to 15 million, while the total metropolitan area has a population of over 18 million...
, Sindh
Sindh
Sindh historically referred to as Ba'ab-ul-Islam , is one of the four provinces of Pakistan and historically is home to the Sindhi people. It is also locally known as the "Mehran". Though Muslims form the largest religious group in Sindh, a good number of Christians, Zoroastrians and Hindus can...
, Pakistan
Pakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...
. BankIslami Pakistan Limited was the first Islamic Commercial Bank to receive the Islamic banking license under the Islamic banking policy of 2003 from State Bank of Pakistan
State Bank of Pakistan
The State Bank of Pakistan is the central bank of Pakistan. While its constitution, as originally laid down in the State Bank of Pakistan Order 1948, remained basically unchanged until January 1, 1974, when the bank was nationalized, the scope of its functions was considerably enlarged...
on March 31, 2005. The Bank started its operations from April 7, 2006 and offers shariah compliant retail banking, investment banking, consumer banking and trade finance products. The Bank intends to focus on Wealth Management as the core area of business and plans to soon launch Proprietary products, and Integrated financial planning services.
The Bank has a nationwide presence, its branch network consists of 102 branches & sub branches spread over 49 cites of Pakistan.
Sponsors
BankIslami is the Joint venture project of three groups namely Jahangir Siddiqui & Co. Pakistan, Randeree family of DCD Group UK, & Dubai BankDubai Bank
Dubai Bank is an Islamic bank based in Dubai, UAE. Launched in September 2002, the Bank became a Shari’a-compliant financial institution with a focus on the UAE’s Islamic banking sector on January 1, 2007...
. The Bank is also publicly traded on the Karachi Stock Exchange.
Credit rating
The Bank is assigned a long term entity of 'A' and short term rating of 'A-1' by Pakistan Credit Rating Agency Limited (PACRA), reflecting BankIslami's well conceived business strategy and establishment of effective operating platform by the Bank to execute the business strategy.Brand image
BankIslami has been able to build a strong image by using smart marketing ideas that resonate well with the public mind. For example, the calligraphy of the Bank's name in UrduUrdu
Urdu is a register of the Hindustani language that is identified with Muslims in South Asia. It belongs to the Indo-European family. Urdu is the national language and lingua franca of Pakistan. It is also widely spoken in some regions of India, where it is one of the 22 scheduled languages and an...
have been done by the same calligrapher Shafiq uz Zaman who has been working in the Holy Mosque of Medina
Medina
Medina , or ; also transliterated as Madinah, or madinat al-nabi "the city of the prophet") is a city in the Hejaz region of western Saudi Arabia, and serves as the capital of the Al Madinah Province. It is the second holiest city in Islam, and the burial place of the Islamic Prophet Muhammad, and...
in Saudi Arabia
Saudi Arabia
The Kingdom of Saudi Arabia , commonly known in British English as Saudi Arabia and in Arabic as as-Sa‘ūdiyyah , is the largest state in Western Asia by land area, constituting the bulk of the Arabian Peninsula, and the second-largest in the Arab World...
.