BankIslami Pakistan

Company type	Public
Traded as	PSX: BIPL KSE 100 component
Industry	Islamic banking
Founded	October 2004; 21 years ago (2004-10)
Headquarters	Karachi, Sindh, Pakistan
Key people	Rizwan Ata (President and CEO), Imran H Shaikh (Dy Chief Executive Officer)
Products	Retail banking consumer banking investment banking trade financing SME & Agri Financing
Net income	Rs. 11.8 billion (US$42.2 million)[1]
Owner	JS Bank (75.12%)[2]
Number of employees	7319[3]
Website	bankislami.com.pk

BankIslami Pakistan Limited (Urdu: بینک اسلامی پاکستان لمیٹڈ;  pronunciation: [bɛŋk ɪs.ˈlaː.mi] bank-is-LAH-mee), commonly referred to as BankIslami is a Pakistani Islamic Bank based in Karachi.^[4] Established as a Shariah-compliant financial institution, it provides services in retail, corporate, consumer, and investment banking.^[5] In May 2015, BankIslami acquired KASB Bank following regulatory intervention by the State Bank of Pakistan to safeguard depositors, and later merged KASB's branches into its network.^[6] As of 2025, the bank operates over 550 branches nationwide, serving both urban and rural communities.^[7] According to the State Bank of Pakistan's 2024 report, BankIslami ranked among the country's top three Islamic banks in terms of assets and deposits. ^[8]

BankIslami is an Islamic commercial bank headquartered in Karachi, Pakistan. It was incorporated in October 2004, and received its Islamic banking license from the State Bank of Pakistan in March 2005. The bank commenced operations on April 7, 2006. It was among the first Islamic banks in the country to operate entirely under Shariah-compliant principles.^[9][10]

In May, 2015, BankIslami acquired KASB Bank Limited, merging its branches into BankIslami's network following regulatory intervention by the State Bank of Pakistan to safeguard depositors.^[11]

In August 2023, JS Bank Limited acquired a 67.33% stake in BankIslami Pakistan Limited, increasing its total shareholding to 75.12% and making BankIslami a subsidiary of JS Bank and part of the JS Group. ^[12]

The transaction was completed through a series of agreements with existing shareholders and a public offer, following regulatory approvals and due diligence. Both institutions continue to operate independently, with BankIslami focusing on Islamic banking and JS Bank maintaining its conventional banking operations.^[13][14]

BankIslami is majority-owned by JS Bank Limited, which is part of the JS Group. The Group holds investments in commercial banking, asset management, securities brokerage, insurance, energy, and telecommunications. According to the Pakistan Credit Rating Agency (PACRA), Jahangir Siddiqui & Co. Ltd. (the holding company of JS Group) maintains a long-term credit rating of ‘AA’ and a short-term rating of ‘A1+’.^[15]

The operations of BankIslami are overseen by a Board of Directors and managed by the President and Chief Executive Officer. Shariah compliance is supervised by an independent Shariah Supervisory Board, chaired by Mufti Irshad Ahmad Aijaz, who also serves as the Chairman of the Shariah Advisory Committee for the Securities and Exchange Commission of Pakistan and previously chaired the Shariah Advisory Committee of the State Bank of Pakistan.^[16] Other members include Mufti Muhammad Hussain Khaleel Khail, Mufti Syed Hussain Ahmed, and Mufti Javed Ahmad.^[16]

BankIslami provides Shariah-compliant financial services across retail, corporate, and investment banking. Its operations include consumer financing, trade finance, and Islamic microfinance, supported by digital channels such as mobile banking, internet banking, ATMs, and a nationwide branch network.^[17]

For corporate and small and medium-sized enterprise (SME) clients, the bank extends working capital financing, structured and trade finance facilities, and Shariah-compliant investment products. Its investment banking activities include Sukuk structuring, Islamic financing arrangements, and advisory services for corporate and institutional clients. ^[18]Other services encompass foreign remittances, cash management, SME and agricultural financing, fleet financing, and payroll solutions for organizations, including staff financing and freelancer-focused products.^[18]

In June 2025, BankIslami launched Aik, a digital banking platform providing Shariah-compliant financial services. The platform has been reported as part of the growing digital banking and fintech sector in Pakistan.^[19][20][21]

As of December 2024, BankIslami reported total assets of over PKR 700 billion and deposits of PKR 559 billion, accounting for around 8% of Pakistan's Islamic banking market share. The bank ranks behind Meezan Bank, the country's largest Islamic bank by assets.^[22]

For the year ending December 31, 2024, BankIslami reported a 24.4% increase in pre-tax profit to PKR 25.5 billion, while net profit rose by 7.1% to PKR 11.8 billion. ^[23] During the same period, total deposits stood at PKR 559 billion, gross financing at PKR 327.2 billion, and investments at PKR 345.1 billion.

In 2025, BankIslami was named the Best Islamic Bank in Pakistan at the Euromoney Islamic Finance Awards.^[24] In 2025, BankIslami won the Jury Award for Best Campaign at the Pakistan Digital Awards (PDA).^[25]

^[22]

• Official website