Pakistan News

    Bank Islamic Branches In Pakistan

  • 79 bank branches to be set up in Balochistan

    QUETTA: Commercial banks would set up 79 branches across Balochistan, while a soft scheme would be launched for skilled women in the province, Governor State Bank of Pakistan Ashraf Mehmood Wathra said on Tuesday...

    Addressing a press conference at the end of his two-day visit to Quetta, he said that after receiving a feasibility report on the proposed Balochistan Bank, the SBP would take steps to materialise the proposal...

  • Faysal Bank to open over 100 branches

    DUBAI: Bahrain-based Ithmaar Bank plans to add more than 100 branches in Pakistan this year through its subsidiary Faysal Bank, to capitalise on the country’s low penetration rate of banking services, a senior executive said...

    Ithmaar Bank owns 66 per cent of Faysal Bank, whose contribution to the Islamic retail bank’s overall balance sheet would likely grow to more than half as a result of the expansion, Ithmaar Deputy Chief...

  • Banks asked to dedicate one-fifth of branches to agri-lending

    QUETTA: The Agricultural Credit Advisory Committee (ACAC) has proposed that banks should dedicate at least 20 per cent of total branches to agri-lending, according to a press release on Saturday...

    A meeting of the ACAC, which is a national-level consultative committee for setting annual targets for agricultural loans and their monitoring, took place in Quetta on Friday under the chairmanship of State Bank of Pakistan (SBP) Governor...

  • FBR, NBP branches to remain open today

    ISLAMABAD: All field offices of Federal Board of Revenue (FBR) and National Bank of Pakistan (NBP) would remain open today (May 30) for collecting duties and taxes...

    FBR in coordination with the State Bank of Pakistan (SBP) and NBP has made special arrangements for collection of duties and taxes on Saturday, as May 31 (Sunday) being a public holiday, according to a FBR statement on Friday...

  • Altaf calls PTI, JI ‘branches of Taliban, Al Qaeda’

    KARACHI: Muttahida Qaumi Movement chief Altaf Hussain has called the Pakistan Tehreek-i-Insaf and Jamaat-i-Islami ‘bran­ches of the Taliban and Al Qaeda’ and predicted a massive defeat for his party’s rivals in the NA-246 by-election on April 23...

    “I assure every segment of the society and the international community that Pakistan will be a true democratic state under the MQM government,” he said...

  • NBP branches to remain open till late evening today

    KARACHI: The National Bank of Pakistan (NBP) has announced that on Monday all its branches in the country will remain open till late in the evening, and will even arrange iftari for customers banking around that time...

    The bank also issued a statement that disputed a news report captioned “People suffer as NBP online computer system breaks down”, which was published in Dawn on Sunday...

  • NBP taking Covid-19 measures at all branches

    KARACHI: The National Bank of Pakistan (NBP) has said that it is taking Covid-19 precautionary measures and social distancing initiatives at all branches...

    In a press release issued on Friday, the bank said that in order to serve its customers during these challenging times, all branches have taken all necessary measures possible...

  • Summit Bank eyes Burj Bank for Islamic banking entry

    KARACHI: Summit Bank has received approval from the State Bank of Pakistan (SBP) to conduct due diligence on Burj Bank, it said in a stock exchange filing, in the latest bid for the unlisted lender, which is seeking to boost capital through a stake sale...

    The acquisition of a majority shareholding in Burj Bank would fit the long term strategy of Summit Bank, which is planning to convert its operations to conform to Islamic principles...

  • Council of Islamic Ideology terms certain sections of NAB law 'un-Islamic'

    The Council of Islamic Ideology (CII) on Thursday termed some sections of the National Accountability Ordinance, 1999, as going against the Shariah...

    Addressing a press conference on Thursday, chairman of the CII, Dr Qibla Ayaz, said the council held a two-day-long meeting during which it concluded that sections 14-D, 15-A and 26 of the NAO were un-Islamic...

  • State Bank widens Islamic banks' benchmark requirements

    The State Bank of Pakistan (SBP) has amended its regulations to exempt Islamic banks from using interest-based benchmarks for some of their financing products, the latest government step aimed at boosting Islamic finance...

    Despite a direct ban on charging interest, interest-based benchmarks are used as a pricing reference by a majority of Islamic banks, due in part to the absence of stable and widely-published alternatives...

  • Jamaat wants Bank of Khyber to adopt Islamic banking

    PESHAWAR: Jamaat-i-Islami has said that Khyber Pakhtunkhwa government should convert conventional branches of Bank of Khyber into Islamic banking and introduce Arabic as compulsory subject in curriculum to pave way for Islamisation in the province...

    “JI had signed an agreement with Pakistan Tehreek-i-Insaf before joining the coalition setup in 2013 under which the new government would abolish secular values and promote Islamisation...

  • Bahrain's Bank Alkhair gets nod to sell stake in Pakistan's Burj Bank

    Bahrain-based Bank Alkhair said on Wednesday it had received approval from the State Bank of Pakistan to sell its stake in Pakistan's Burj Bank to a subsidiary of Bahrain's Al Baraka Banking Group...

    Al Baraka, one of the Gulf's top Islamic banks, had said in September that its Pakistani unit, Al Baraka Pakistan, would merge with Burj Bank to create an institution with assets totalling more than $1...

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