Faysal Bank Ltd (FABL) has completed its conversion from a conventional bank to a full-fledged Islamic Bank, with the new name Faysal Islami.
In a notification to the Pakistan Stock Exchange (PSX) on Friday, it said that the State Bank of Pakistan (SBP) granted the Islamic Banking License to Faysal Bank Ltd on December 30, 2022.
“The Islamic Banking License granted to Faysal Bank Ltd., will be effective from January 1, 2023. Furthermore, Faysal Bank Ltd., has surrendered its conventional banking license to the State Bank of Pakistan.” the notification added.
It further said that the bank will conduct its business and operations as an Islamic Bank under the duly issued Islamic Banking License from January 1, 2023.
This is the largest conversion of a conventional bank into an Islamic one in the world. After the successful conversion from a conventional to Islamic bank, the bank will be operating a total of 639 Islamic banking branches.
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This is a big fraud bank.
The services are not very satisfactory or helpful like ASKARI BANK or HBL,which is very good.
The customer services make things hard and queries unsolved and comlicated and nobody is there to hear your problems.
Aoa!Dear sir Have you any package of veichle on instalments as islamic rules
I appreciate the good efforts of Faysal islamic banking.