JS Group launched Islamic banking and finance services by establishing a premier Islamic commercial bank under the brand of Bank Islami in 2006. Pakistan represents a growing market for Shariah-compliant Islamic banking and finance services. Bank Islami was launched in partnership with Dubai Bank PJSC (www.dubaibank.ae) and the Randeree family, principals of the DCD Group.
Bank Islami Pakistan Limited was the first Islamic commercial bank to receive an Islamic Banking licence under the new Islamic Banking policy of 2003. Bank Islami offers a full range of Shariah-compliant commercial banking products and services including liability products such as current & saving accounts, term deposits and asset products such as Car Ijarah, Diminishing Musharika based housing finance, Murabaha finance, trade finance including Islamic Export Refinance as well as retail services including Biometric ATM facility and Internet banking service. Bank Islami envisages being the first Islamic banking financial institution in Pakistan to focus on wealth management as its core area of business.
The Shariah Supervisory Board of Bank Islami comprises:
- Justice (Retd.) Muhammad Taqi Usmani - Chairman
- Prof. Dr. Fazlur Rahman- Member
- Mufti Irshad Ahmad Aijaz -Shariah Adviser & Member
For further information on JS Group's Islamic banking and finance services please visit the Bank Islami website at www.bankislami.com.pk.