IBF promises great transparency, fairness to consumers: Saeed

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NBP inaugurates ‘Aitemaad’ Islamic banking branch

Muhammad Arshad

Islamabad

The National Bank of Pakistan (NBP) in a quest to promote Islamic Banking in Pakistan has inaugurated another new branch of Aitemaad at I&T Center here in the federal capital, taking the total number of Islamic Banking branches to 170.
The ceremony was attended by the President and CEO of NBP Saeed Ahmad, accompanied by the Group Head of NBP Islamic Banking Khawaja M. Aminul Azam along with numerous dignitaries and senior officials from National Highway Authority and Jamshoro Power Company. The local traders and businessmen were also present.
In the inaugural address, Muhammad Tariq Khattak, SVP, Regional Head of Islamic Banking, Islamabad appreciated the vision and efforts of the President and Group Head for expanding the network across Pakistan. NBP plans to open/convert nearly 50 more branches in 2018.
“We strongly believe that Islamic Banking and Finance (IBF) promises great transparency and fairness to the consumers, hence it has great potential in a developing nation like Pakistan. That is why we have earmarked some very profitable branches for conversion into the Aitemaad Islamic model. With the launch of Aitemaad ‘Hamsafar’, NBP has ventured into the Islamic car-leasing market for the first time” Saeed Ahmad informed the audience.
NBP Aitemaad is continually expanding the outreach of its Islamic products and services for the valued customers through specialized branches all over Pakistan. In the process of structuring and developing these products and services, an independent Shariah Board has been appointed by NBP, comprising of learned muftis and scholars. The Board ensures complete Shariah compliance of all banking services and products being offered.
The customers attending the ceremony expressed their appreciation to NBP for promoting Aitemaad Islamic Banking in Islamabad and promised their cooperation and patronage to make Islamic Banking a success.