SBP Announces Rs275 Billion Bai Muajjal-Based Ijara Sukuk Auction to Support Sharia-Compliant Financing
The State Bank of Pakistan has issued an auction tender to raise Rs275 billion through Bai Muajjal-based Government Ijara Sukuk, scheduled across two auctions in November and December 2025.
Shariah-Compliant aik by BankIslami Expands QR Payments Accessibility for Karachi’s Merchant Community
BankIslami’s digital brand aik launches a Shariah-compliant QR payment activation at Creek Walk Food Street in Karachi, supporting Pakistan’s cashless economy agenda and empowering merchants with secure, interest-free digital payments.
Dubai Islamic Bank Pakistan Partners with Fauree to Expand Shariah-Compliant Financing Solutions
Dubai Islamic Bank Pakistan signs a multi-product agreement with Fauree to enhance its Shariah-compliant offerings, targeting corporate, SME, and consumer sectors with innovative and sustainable finance solutions.
BankIslami Appoints Mujeeb Mohammad Syed as Chief Information Officer to Drive Digital Transformation
BankIslami has appointed Mujeeb Mohammad Syed as its new Chief Information Officer, leveraging his 28 years of experience in banking and enterprise technology to enhance digital capabilities, operational resilience, and technology-driven growth.
Meezan Bank Expands Strategic Partnership with Visa to Strengthen Premium Digital Debit Card Portfolio
Meezan Bank has renewed and expanded its strategic partnership with Visa to strengthen its debit card offerings, introduce premium lifestyle products, and elevate digital payment experiences across Pakistan.
BankIslami Appoints Ayub Muhammad as Head of Service Quality & CX to Elevate Customer Experience
BankIslami has appointed Ayub Muhammad as Head of Service Quality & CX, bringing over 18 years of banking experience to enhance customer journeys, implement AI-driven automation, and strengthen service frameworks.
SBP Injects Rs12 Trillion Through Reverse Repo and Shariah-Compliant OMO to Support Liquidity
The State Bank of Pakistan conducted reverse repo and Shariah-compliant Modarabah-based Open Market Operations (OMO), injecting a total of Rs11.78 trillion into the banking system. The move aims to address liquidity shortages and stabilize financial markets, with Rs11.5 trillion through conventional reverse repo and Rs277 billion via Shariah-compliant instruments.
Meezan Bank and TCS Join Hands to Facilitate Bike Ijarah Financing for Couriers
Meezan Bank has signed an MoU with TCS Private Limited to introduce Bike Ijarah financing for TCS couriers. The partnership aims to enhance operational efficiency, promote financial inclusion, and empower employees through Shariah-compliant financial solutions.
NIBAF Concludes Islamic Banking Professional Development Program (IBPD–27) to Advance Shariah-Compliant Finance Expertise
NIBAF Pakistan successfully organized the 27th Islamic Banking Professional Development Program (IBPD–27) at its Islamabad Campus, providing in-depth training on Islamic finance principles, Shariah compliance, and product innovation to enhance professional capacity in the Islamic banking sector.
Faysal Bank Records PKR 32.8 Billion Profit Before Tax, Strengthening Its Position in Pakistan’s Islamic Banking Sector
Faysal Bank Limited (FBL) has reported a strong financial performance for the nine months ending September 2025, with a profit before tax of PKR 32.8 billion and net profit of PKR 15 billion. The bank’s continued growth in deposits, improved asset quality, and strong capital adequacy underscore its robust Islamic banking model and strategic foresight.