BankIslami Pakistan Limited ( ) is a Pakistani

Islamic bank Islamic banking, Islamic finance ( ''masrifiyya 'islamia''), or Sharia-compliant finance is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economics. Some ...

based in

Karachi Karachi is the capital city of the Administrative units of Pakistan, province of Sindh, Pakistan. It is the List of cities in Pakistan by population, largest city in Pakistan and 12th List of largest cities, largest in the world, with a popul ...

History

BankIslami was founded on March 31, 2005. On the 26th of September 2005, Dubai Bank joined the sponsors and became one of the founding

shareholders A shareholder (in the United States often referred to as stockholder) of corporate stock refers to an individual or legal entity (such as another corporation, a body politic, a trust or partnership) that is registered by the corporation as the ...

of BankIslami by investing 18.75% in the total capital. The bank started its operations on 7 April 2006 and began offering shariah-compliant

retail banking Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate ...

investment banking Investment banking is an advisory-based financial service for institutional investors, corporations, governments, and similar clients. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by und ...

consumer banking Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate ba ...

, and

trade finance Trade finance is a phrase used to describe different strategies that are employed to make international trade easier. It signifies financing for trade, and it concerns both domestic and international trade transactions. A trade transaction requir ...

products. BankIslami made an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

in March 2006. In May 2015, KASB Bank was acquired by BankIslami and later its branches were merged into BankIslami. KASB Bank was formerly known as Platinum Commercial Bank. In 2002, Khadim Ali Shah Bukhari & Company Limited (KASB) acquired the bank, and the two entities merged the following year. The merger led to the renaming of the bank as KASB Bank in 2003. In May 2025, BankIslami acquired the 32-storey KASB Altitude building in

to use as their new headquarters.

References

External links

* {{DEFAULTSORT:Bankislami Pakistan 2006 establishments in Pakistan Banks established in 2006 2006 initial public offerings Islamic banks of Pakistan Companies based in Karachi Companies listed on the Pakistan Stock Exchange