BankIslami Pakistan

Infobox_Company
company_name = Bank Islami Pakistan Limited
company_
company_type = Private
company_slogan = Serving You, the Right Way
foundation = Karachi
location = Principal Office, Karachi Pakistan
key_people = Hasan A Bilgrami (CEO)
industry = Islamic Banking
Capital Markets
products = Consumer Banking, Investment Banking, Trade Financing etc.
revenue = profitPKR 602.06 Million - 2007 [ [http://www.bankislami.com.pk/JSP/en/BankIslami_Annual_Report_2007_Final.pdf BankIslami Annual 2007 N Final.FH10 ] ]
net_income = lossPKR 37.02 Million - 2007 [ [http://www.bankislami.com.pk/JSP/en/BankIslami_Annual_Report_2007_Final.pdf BankIslami Annual 2007 N Final.FH10 ] ]
num_employees = 563 as on 31 Dec, 2007 [ [http://www.bankislami.com.pk/JSP/en/BankIslami_Annual_Report_2007_Final.pdf BankIslami Annual 2007 N Final.FH10 ] ]
homepage = [http://www.bankislami.com.pk/ www.bankislami.com.pk]

BankIslami Pakistan Limited (“BankIslami”) is located in Karachi, Sindh, Pakistan. BankIslami Pakistan received an Islamic commercial banking license from State Bank of Pakistan on March 31 2005. It is the first financial institution in Pakistan that is going to focus on Wealth Management as the core area of business. It intend to offer retail banking products, proprietary and third party product, and integrated financial planning services. The Bank is expected to start its operations in the last quarter of year 2005.

Competition Situation

BankIslami is the Joint venture project of 3 groups with 18.75% equity each, namely Jahangir Siddiqui & Co. Pakistan, DCD Group UK, & Dubai Bank. Irrespective of stiff competition in the market the Bank has successfully managed to grow over 400% during last one year and all set to be a 100 Online Branch Network by the year end 2008.

The same was achieved by the existing largest player in the Islamic Banking Industry Meezan Bank in 6 years time at December 2007. BankIslami has become a hallmark of innovation and bringing new products and services in the market and by introducing the Bio-Metric ATM facility it became the first bank of the region to offer such services and till date no bank has been able to replicate this service. Bio-Metric identification (based on finger print) removes the need for PIN based verification and it adds the security element in ATM transactions.

Image Marketing

BankIslami has been able to form a strong image of having authentic basis for its banking operations by using smart marketing ideas that resonate well with the public mind. For example, the calligraphy of the bank's name in Urdu is claimed to have been done by the same calligraphers who have done similar work in the Holy Mosque of Madina in Saudi Arabia.

ee also

* Economy of the OIC

External links

* [http://www.bankislami.com.pk/ BankIslami Pakistan Limited]

References