Islamic banking or Islamic finance or Sharia-compliant finance are Sharia-compliant banking or financial activities and their practical application through the development of the Islamic economy. Some of the Islamic banking / finance modalities include Mudarabah (profit sharing and loss), Wadiah (custody), Musharaka (joint venture), Murabahah (additional cost) and Ijara (lease).
1. Meezan Bank Limited
2. Soneri Mustaqeem Islamic Bank
3. Dubai Islamic Bank
4. Al Baraka Bank
5. Bank Alfalah Islamic
6. BankIslami Pakistan Limited
7. Askari Bank Ltd
8. MCB Islamic Banking
9. UBL Islamic Banking
10. HBL Islamic Banking
11. National Bank of Pakistan
12. Bank Al Habib Islamic Banking
13. Bank of Punjab Islamic Banking
14. Allied Islamic Bank
15. Faysal Bank (Islamic)
Meezan Bank Limited
Meezan Bank, the best bank in Pakistan and the first and largest Islamic bank, is listed on the stock exchange company with a paid-up capital of Rs. 14.1 billion. It is one of the rapid growing financial companies. The Bank began operations in 2002, after having issued the first Islamic commercial banking license issued by the State Bank of Pakistan.
Soneri Mustaqeem Islamic Bank
Soneri Bank Limited is a leading full service commercial bank established on September 28, 1991 with the goal of providing innovative financial solutions and quality customer service. Over the years, we have grown our branch network and now operate more than 330 branches and ATMs throughout Pakistan, including 30 Islamic Banking branches.
Dubai Islamic Bank
DIBPL was incorporated in Pakistan as an unlisted corporation on May 27, 2005 under the Companies Ordinance (1984) to conduct the business of an Islamic Commercial Bank in accordance with the principles of Islamic Sharia.
Al Baraka Bank
Al Baraka (Pakistan) Limited (ABPL) was born as a result of the first merger in Pakistan’s Islamic banking sector. [2] The merger took place between the operations of the branches of Al Baraka Islamic Bank (AIB) Bahrain, Al Baraka Islamic Bank Pakistan (AIBP) and Emirates Global Islamic Bank (Pakistan) and therefore as of 1 November 2010, operations of the merged entity began.
Bank Alfalah Islamic
Bank Alfalah Limited, formerly Habib Credit and Exchange Bank, is a Pakistani retail bank that is a subsidiary of the Emirati Company Abu Dhabi Group. It is one of the largest private banks in Pakistan with a network of more than 700 branches in more than 200 Pakistani cities with an international presence in Bangladesh, Afghanistan, Bahrain and the United Arab Emirates.
BankIslami Pakistan Limited
It was the first Islamic commercial bank to receive the Islamic banking license under the 2003 Islamic Banking Policy from the State Bank of Pakistan on March 31, 2005. The bank began operations on April 7, 2006 and offers retail banking, banking investment, consumer banking products and trade finance
Askari Bank Ltd
It was founded on October 9, 1991 as a Public Limited Company. On June 21, 2013, the bank was acquired by Fauji Group. [3] The Bank is listed on the Pakistan Stock Exchange (PSX) and is also listed on the Karachi, Lahore and Islamabad stock exchanges.
MCB Islamic Banking
MCB Islamic Bank (MIB) is a Pakistani Islamic bank that is a subsidiary of MCB Bank. It was established in 2015.In 2015, MIB was established as a spin-off of MCB and NIB Bank for ₨ 7.9 billion
UBL Islamic Banking
Backed by UBL’s heritage of over 50 years of strong banking, UBL Ameen offers a full range of Shariah-compliant Islamic banking products and services through its dedicated branches in major cities in Pakistan. The UBL Ameen Islamic Banking online service is also available at over 1400 UBL Online branches, in addition to UBL Ameen branches.
HBL Islamic Banking
HBL is one of the largest and leading Islamic banking players in the country. The bank offers a wide range of Shariah-compliant solutions to its diverse clientele and is committed to introducing innovative products and initiatives to its valued customers. All Islamic products offered by HBL are approved by the bank’s Sharia Board, made up of renowned Pakistani Sharia scholars.
National Bank of Pakistan
It has implemented special credit schemes such as small finance for agriculture, business and industries, administrator loans to Qarz-e-Hasna for students, self-employment scheme for unemployed people, public transport scheme
Bank Al Habib Islamic Banking
Bank Al Habib Limited (بینک الحبیب لمٹیڈ) is a Pakistani commercial bank owned by the Dawood Habib family. It is based in Karachi, Pakistan. Bank Al Habib has a branch network of more than 900 branches.
Bank Al Habib has wholesale branches in Bahrain, Seychelles and Malaysia and offices in the United Arab Emirates, Istanbul, Beijing and Kenya. As of August 2020, the bank’s assets grew to Rs. 1.36 trillion.
Bank of Punjab Islamic Banking
BOP TAQWA – Islamic Banking Division, is all set with its renewed and renewed perspective to provide clients with different Shariah compliant banking services in the Islamic financial market. Alhamdulillah, BOP TAQWA has proven to be a success story in which Pakistan’s largest conversion project was successfully completed and as a result, an extended network of branches spread across the country is fully operational.
