BankIslami Pakistan Limited

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 ( with a shareholding of Rs. 1.02 billion (19.48%), Dubai Bank U.A.E ( with a shareholding of Rs. 1.31 billion (24.82%) and Jahangir Siddiqui and Co. Limited Pakistan ( 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.
Consumer financing products include Islami Auto Financing and MUSKUN Home Financing.
Retail Banking products include Islami Current Account, Islami Bachat Account, Islami Amadni Certificate, Islami Mahana Munafa Account etc.
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.
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:
Mufti Irshad Ahmad Aijaz (Chairman, Shariah Supervisory Board)
Mufti Muhammad Hussain (Member, Shariah Supervisory Board)
Mufti Javed Ahmad (Resident Shariah Board Member)

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Chief Executive:  

Update Date: 05-Mar-2019

Syed Amir Ali
Chief Executive Officer
BankIslami Pakistan Limited

Syed Amir Ali is the President & Chief Executive Officer of BankIslami Pakistan Limited.

He excelled in the ambit of Finance, Treasury, Investment & Corporate Banking throughout his association with domestic and international organizations i.e. Price Water House Coopers (PWC), Shell and Meezan Bank Limited. He spearheaded Corporate & Investment Banking Group of Meezan Bank before moving to BankIslami in 2018.

His diverse credentials as a Chartered Accountant (Gold Medalist) from Institute of Chartered Accountants of Pakistan and in England & Wales, CFA Charterholder, MBA (Gold Medalist) and LLB are testament to his progression in the financial industry.

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.