Islamic Finance and Banking in Pakistan

Pakistan Islamic financial banking is growing rapidly in the competitive environment. There are certain Laws and Rules issued by SBP (State Bank of Pakistan) for banks who are providing Islamic Banking services. Islamic banks have experienced Sharia advisers, who approve and monitor the products/services.

In Pakistan, most of the banks are providing Islamic Banking services from individual plans to business (SMB) and to the enterprise level.

Following list contains some of the best Islamic financial banks with the accreditation license from the SBP (state bank of Pakistan).

Meezan Bank

Meezan Bank Pakistan first islamic bank
SloganThe Premier Islamic bank
Webpagehttps://www.meezanbank.com/islamic-advisory-services/
TypePublic Limited
Founded1997
HeadquartersKarachi, Pakistan
IndustryIslamic Banking, Commercial Banking
ProductsCommercial Banking, Corporate Banking, Private Banking, Asset Management
Branches600+

Pakistan’s First & Largest Dedicated Islamic Bank

Meezan Bank offers the largest range of Riba-free Deposit accounts for Personal Banking.

It commenced operations in 2002 when State Bank of Pakistan issued first-ever license for Islamic commercial banking. The Bank has a market share of 35% in Islamic banking industry of the country.

You can choose from current and savings accounts, Special savings accounts or Meezan Asaan accounts.


UBL – United Bank Limited

UBL Ameen of Islamic Finance and Banking
SloganThe Premier Islamic bank
Webpagehttps://www.meezanbank.com/islamic-advisory-services/
TypePublic Limited
Founded1959
HeadquartersKarachi, Pakistan
IndustryFinance
ProductsMurabaha, Ijarah, Diminishing Musharakah, VISA Debit Card, Saving Accounts, Consumer Banking
Branches1375+

UBL was declared Pakistan’s ‘Best Bank for Corporate Finance & Capital Market Development’ at the Pakistan Banking Awards 2017.

UBL Ameen offers a full range of Shariah complaint Islamic Banking products and services through its dedicated branches in major cities across Pakistan.

UBL Ameen provides excellent services to the customers in accordance with their requirements and tailor Shariah Compliant Products to meet their demands by ensuring and strictly adhering to present Shariah Standards, applicable.


MCB Bank Limited

Muslim Commercial Bank Limited Islamic Finance Bank
SloganBank for Life
Webpagehttps://www.mcbislamicbank.com/
TypePublic Limited
Founded1947
HeadquartersLahore, Pakistan
IndustryBanking Capital Markets, Commercial Banking, Corporate Banking, Investment Banking, Treasury Services
ProductsLoans, credit cards, savings, consumer banking, Home Remittance
Branches1233

MCB – Muslim Commercial Bank was declared ‘The Most Innovative Investment Bank for Islamic Finance’ at Global Awards 2016.

MCB established an Islamic Banking unit to offer Shariah compliant products and services, with dedicated Islamic banking branches in six cities.

MCB provides innovative Shari’ah compliant financial solutions and quality services to their customers.

MCB conduct activities in a fair, ethical and socially responsible manner under the Shariah Law.


Askari Bank

Askari Bank Pakistan
SloganSteer your Dreams
Webpagehttp://akbl.com.pk/islamic/
TypePublic Limited
Founded1991
HeadquartersRawalpindi, Pakistan
IndustryBanking
ProductsMudarabah, Qard, Consumer Customer Services, Cradit Card
Branches94 Islamic Banking Branches

Askari Bank has been given the “Best Consumer Internet Bank” award by Global Finance magazine for the years 2002 and 2003.

Askari Bank provides a comprehensive range of products and services in personal banking, corporate banking, Islamic treasury, trade services and Banca-Takaful solutions.

The objective of Askari Bank is to put in place an efficient banking system supportive to economic justice and welfare of society in line with the Shariah principles.

Askari Ikhlas Islamic Banking is creating a niche through its services, reliability, strength of the management, and most importantly, its strong sponsors.


Bank Alfalah

Bank Alfalah Islamic Banking
SloganThe Way Forward
Webpagehttps://www.bankalfalah.com/islamic-banking/
TypePrivate Limited
Founded1997
HeadquartersKarachi, Pakistan
IndustryBanking
ProductsLoans, credit cards, Savings Consumer Banking
Branches600

Bank Alfalah is the 5th largest bank of Pakistan.

Bank Alfalah Islamic Banking comprises a team of qualified professionals who design and structure Islamic financial solutions and ensure that they are in line with Shari’ah principles on Islamic banking and finance. These solutions are developed under the guidance of a dedicated Shari’ah Adviser.


Dubai Islamic Bank

Dubai Islamic Bank
SloganThat’s All! Ab Banking karain Asaani say
Webpagehttps://www.dibpak.com/
TypePublic Limited
Founded1975
HeadquartersDubai, United Arab Emirates
IndustryBanking and insurance
ProductsOnline Banking, credit cards, Unlimited deposits and withdrawals
Branches200

Dubai Islamic Bank is the third largest Islamic Bank in the world.

The bank has established DIB Pakistan Limited, a wholly owned subsidiary which is the first Islamic bank in Pakistan to offer Priority & Platinum Banking, as well as the most extensive and innovative portfolio of Alternate Distribution Channels.

The Bank’s ultimate goal is to make Islamic finance the norm, rather than an alternative to conventional banking worldwide.

In 2017, DIB won the coveted Global Islamic Business Award in its first edition in the region and was presented to the bank during the 23rd edition of the Business Excellence Awards Ceremony.


Al Baraka Bank

alBaraka Bank Pakistan
SloganInvest, Save & Protect – The Halal Way
Webpagehttps://www.albaraka.com.pk/
TypePrivate Limited
Founded1991
HeadquartersKarachi, Pakistan
IndustryIslamic Banking
ProductsRetail banking, Corporate Banking, Investment banking, Consumer banking
Branches224

Al Baraka was named the ‘Best regional Bank’ at the Annual Islamic Business and Finance Awards Ceremony, Dubai (26 December 2010).

Al Baraka Bank (Pakistan) Limited (ABPL) is the result of a merger between Al Baraka Islamic Bank Pakistan (AIBP), the branch operations of Al Baraka Islamic Bank (AIB) Bahrain and Emirates Global Islamic Bank (Pakistan).

Al Baraka believes that society needs a fair and equitable financial system which rewards effort and contributes to the development of the community.


Bank Islami Pakistan

Bank Islami Pakistna
SloganServing You, the Right Way
Webpagehttps://bankislami.com.pk/
TypePublic Limited
Founded2006
HeadquartersKarachi, Pakistan
IndustryIslamic Banking
ProductsRetail banking, Consumer banking, Investment banking, Trade financing
Branches213

BankIslami Pakistan Limited was the first bank to receive the Islamic banking license under the Islamic banking policy of 2003 on 31 March 2005.

The vision of bank Islami is to be recognized as the leading Authentic Islamic Bank.

Bank Islami offers Authentic, Shariah Compliant and technologically advanced product and services.


HBL Pakistan

Habib Bank Limited Pakistan
SloganJahan khwab, Wahan HBL – Enabling Dreams
Webpagehttp://www.hbl.com/islamicbanking
TypePublic Limited
Founded1941
HeadquartersKarachi, Pakistan
IndustryFinancial Services Banking Capital Markets
ProductsLoans, Credit Cards, Savings, Consumer Banking
Branches1700+

Habib Bank Limited is the largest company in Pakistan in terms of assets, and has repeatedly ranked top Pakistani company in the Forbes Global 2000.

Habib Bank offers the basic range of banking services to its customers, to include commercial, bank in the emerging markets.

The bank provides a wide range of Shariah compliant solutions to its diverse clientele and is committed to introduce innovative products and initiatives for its valued customers.


National Bank of Pakistan

National Bank of Pakistan
SloganYour Premier Bank
Webpagehttps://nbp.com.pk/Islamic/
TypePublic Limited
Founded1949
HeadquartersKarachi, Pakistan
IndustryBanking Capital Markets
ProductsLoans, Credit Cards, Savings, Consumer Banking, Corporate Banking, Investment Banking
Branches1450

NBP expand its range of products and services by including Shariah Compliant Banking Products, available through dedicated Islamic Banking Branches. Each Islamic Banking Branch is fully equipped to cover all aspects of Islamic financial transactions. Valuing adherence to Islamic faith, NBP now provides a premium choice for you in meeting your financial needs, free of RIBA.


Bank Al Habib

SloganRishta Bharosey Ka
Webpagehttps://www.bankalhabib.com/business/islamic-banking.php
TypePublic Limited
Founded1991
HeadquartersMultan & Karachi, Pakistan
IndustryBanking, Capital Markets, Investment Banking
ProductsLoans, Credit Cards, Savings, Consumer Banking
Branches650

Bank AL Habib is the third largest ATM service provider in Pakistan.

Bank AL Habib’s Islamic Banking Branch offers Deposit Schemes and Islamic Financing for Individuals / Traders / Industries which are completely based on Islamic Shariah principles.


Allied Bank Limited

allied bank islamic banking
SloganAap Kay Dil Mein Hamara Account
Webpagehttps://www.abl.com/islamic-banking/
TypePublic Limited
Founded1942
HeadquartersLahore, Pakistan
IndustryFinance and insurance
ProductsFinancial services
Branches1250

Allied Bank was the first Muslim bank established in Pakistan before independence (1942) with the name of Australasia Bank.

The bank provides its customer various products and services, to cater their need for investments, and other social or business necessities.

Allied Bank established its Islamic Banking Group to offer a diverse range of deposit and investment related accounts ensuring Shariah compliance.


  • This list is generated by the online data from Wikipedia and from the websites of respective banks.
  • In-case of any error, please contact us with the correct details. Thank you!
REVIEW OVERVIEW
Meezan Bank
UBL Bank
MCB Bank Limited
Askari Bank
Bank Alfalah
Dubai Islamic Bank
Al Baraka Bank
Bank Islami Pakistan
HBL
NBP
Bank AlHabib
Allied Bank

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