BankIslami Pakistan Limited
Organization:  

Update Date: 04-May-2016

BankIslami Pakistan Limited was incorporated on October 18, 2004.

BankIslami Pakistan Limited was the first Bank to receive the Islamic Banking license under the Islamic Banking policy of 2003 on March 31, 2005. The Bank has envisioned focusing primarily on Wealth Management as the core area of business in addition to providing Shariah compliant commercial Banking products, proprietary & third party products, and integrated financial planning services.

The founding shareholders of BankIslami are the Randeree family of the DCD Group UK (www.dcdgroup.com) with a shareholding of Rs. 1.02 billion (19.48%), Dubai Bank U.A.E (www.dubaiBank.ae) with a shareholding of Rs. 1.31 billion (24.82%) and Jahangir Siddiqui and Co. Limited Pakistan (www.js.com) with a shareholding of Rs. 1.02 Billion (21.07%) in the total Capital of Rs.5.2 billion. BankIslami is also listed on the Karachi Stock Exchange (KSE).

BankIslami started its commercial operations on April 7, 2006 with its first branch in SITE, Karachi. It has the 2nd largest branch network amongst Islamic Banks having 317 branches in 93 cities of Pakistan.

In line with Bank's strategy of focusing on retail market and creating a large distribution network to support the Wealth Management initiative. BankIslami has the distinction of having one of the fastest expanding branch networks in Pakistan. The Bank has a deposit base of Rs. 145,112 million (As at 30th September, 2015).

Currently, the Bank offers complete range of Shariah compliant Consumer, Retail, Corporate and Investment Banking products and services to its customers.
 
bullet Consumer financing products include Islami Auto Financing and MUSKUN Home Financing.
bullet Retail Banking products include Islami Current Account, Islami Bachat Account, Islami Amadni Certificate, Islami Mahana Munafa Account etc.
bullet Corporate Banking products and services include Murabaha Financing, Working Capital finance, Trade financing, Medium and Long term finance, Leasing or Ijarah facility, Islami Export refinance scheme etc.
bullet Investment Banking products and services include Sukuk Arrangement, Financial Advisory, Private Placement, Syndication, Trusteeship, Underwriting, Structured Finance, Listing on Capital Markets, Project Financing, Mergers & Acquisitions etc.

BankIslami was rated as the best Sukuk House by Asia Money for 2007. The Bank has Lead Managed and closed 13 transactions in Sukuk Bonds during 2007 & 2008, most by any Bank in Pakistan.

BankIslami also offers a wide range of value added services, namely, Nationwide Online Banking, Biometric ATM facility, Deposit accepting ATMs, VISA Debit Card, Internet Banking, InterBank funds transfer facility through ATM, eStatement facility, Lockers, Phone Banking and a 24 /7 Call Centre service. In line with its strategy to introduce technologically advanced product and worldwide to have services for its customers, the Bank has the distinction of being the 1st Bank in Pakistan and 2nd used 'Biometric' technology in ATMs. It is also the 1st Islamic Bank to have offered IBFT (Inter Bank Fund Transfer) facility through ATMs. Besides that it has the largest deployment of Linux technology in Pakistan right up to the desk top level and has been showcased by Novell Networks as a success story in use of Linux Technology.

Aligned with its strategy of setting up 'Principal Businesses' for Wealth Management offering, BankIslami acquired JS Finance Limited in 2007, which has since been re-named BankIslami Mudaraba Investments Limited. This 100% owned subsidiary would launch a number of specific purpose Mudarabas in areas of energy, education, equity business, real estate, leasing etc. The existing Mudaraba, Mudaraba Al-Mali is in the process of being re-structured. This particular Muaraba will primarily focus on energy business. Similar other initiatives are in pipeline.

The Shariah Board of BankIslami consists of three renowned and distinguished Shariah scholars namely:
 
bullet Mufti Irshad Ahmad Aijaz (Chairman, Shariah Supervisory Board)
bullet Mufti Muhammad Hussain (Member, Shariah Supervisory Board)
bullet Mufti Javed Ahmad (Resident Shariah Board Member)

For more details visit www.bankislami.com.pk

 

Chief Executive:  

Update Date: 08-Sep-2015

Mr. Hasan A Bilgrami
Chief Executive Officer
BankIslami Pakistan Limited

Mr. Hasan A Bilgrami's association with the BankIslami started as a consultant to the sponsoring shareholders right at the inception of the project where he was responsible for developing the business plan, arranging permissions, staffing and capital raising. Earlier he worked as the Head of Asset Management with the National Investment Trust (NIT), as Country Manager Consumer Banking & Corporate Business with Gulf Commercial Bank, as General Manager Corporate Finance with ORIX Investment Bank, and as Director and Head of Corporate Finance with Khalid Majid Husain Rahman, which was then a member firm of Deloitte & Touche.

Mr. Bilgrami has hands on experience in structuring Islamic modes of financing from his work as a Secretary of the Financial Instruments Committee of the Islamic Finance Commission. His specific task was development of model financial instruments that could be used by the financial services industry in Pakistan. The scope of work not only included both asset and liability side products, but also included areas such as risk management and capital adequacy. Model agreements were also part of the mandate. His work of model agreements has been approved by the Shariah Board of the State Bank of Pakistan and have become the industry standard.

Key Management:

Mufti Irshad Ahmad Aijaz
 

Update Date: 04-Feb-2016

Chairman, Shariah Supervisory Board

 
Sadaruddin Pyar Ali
 

Update Date: 09-Dec-2015

Head, Administration & General Services

 
Farooq Anwar
 

Update Date: 08-Sep-2015

Head, Operations

 
Khawaja Ehrar Ul Hassan
 

Update Date: 08-Sep-2015

Head, Compliance & Legal

 
Muhammad Faisal Shaikh
 

Update Date: 09-Dec-2015

Head, Shariah Advisory & Structuring

 
Muhammad Furqan
 

Update Date: 08-Sep-2015

Head, Credit Administration

 
Muhammad Kamran Siddiqui
 

Update Date: 08-Sep-2015

Head, Service Quality & Phone Banking

 
Amir Shamim
 

Update Date: 09-Dec-2015

Head, Treasury & Financial Institutions

 
Rehan Shuja Zaidi
 

Update Date: 08-Sep-2015

Head, Internal Audit

 
Shamshad Ahmed
 

Update Date: 08-Sep-2015

Head, Trade Finance

 
Sheba Matin Khan
 

Update Date: 08-Sep-2015

Head, Human Resources

 
Syed Akhtar Ausaf
 

Update Date: 08-Sep-2015

Head, Risk Management

 
Syed Arif Mahtab
 

Update Date: 09-Dec-2015

Head, Branch Operations

 
Syed Ata Hussain Jaffrii
 

Update Date: 09-Dec-2015

Head- Information Systems

 
Syed Mujtaba Hussain Kazmi
 

Update Date: 08-Sep-2015

Head, Corporate Finance

 
Zahid Ali H. Jamall
 

Update Date: 08-Sep-2015

Chief Financial Officer & Company Secretary

 
Pakistan Banks' Association 2005. All Rights Reserved.