Pakistan Observer’s 4th RTC on Islamic Banking: Faysal Bank shares its transformative journey

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Pakistan Observer's 4th RTC on Islamic Banking: Faysal Bank shares its transformative journey

Pakistan Observer, one of the oldest and widely read English newspapers in Pakistan recently organized the 4th Round Table Conference on Islamic Banking.

The aim for the conference was to bring all stakeholders under one roof to discuss the way forward for the growth and development of Islamic Banking in the country. The conference was attended by H.E Dr. Arif Alvi (President of Pakistan), Mr. Shaukat Tareen (Federal Finance Minister), Dr. Reza Baqir (Governor State Bank of Pakistan), Dr. Ishrat Hussain (Advisor to the Prime Minister), Mr. Yousaf Hussain (President & CEO of Faysal Bank Ltd.) and other notable speakers.

Speaking on the occasion, Mr. Yousaf Hussain, President & CEO of Faysal Bank Limited, shared Faysal Bank’s successful transformation experience from a conventional to an Islamic Bank. As the fastest growing Islamic bank in Pakistan offering a complete range of Islamic banking products and services, Faysal Bank has emerged as one of the major players in Pakistan’s banking industry. Currently, almost 90 percent of the Bank’s branch network is Islamic, making Faysal Bank the second largest Islamic network in Pakistan.

Faysal Bank’s conversion has been recognized as the largest & most successful Islamic conversion globally. In appreciation of its unprecedented transition and remarkable growth, Faysal Bank has been recognized as the “Best Emerging Bank 2020” at the Pakistan Banking Awards (PBA). Marking its contribution and excellence in Islamic Banking, Faysal Bank has also been awarded with the “Best Emerging Islamic Bank 2020” recognition by the Global Islamic Finance Awards (GIFA). In addition to these accolades, Faysal Bank’s Shariah Compliance and Fiduciary Rating (SCFR) by the Islamic International Rating Agency (IIRA) is the highest Shariah rating attainable.

Faysal Bank is all set to complete the transformation into a full-fledged Islamic Bank by middle of 2022 Insha’Allah. Customers’ trust, employees’ dedication and continued guidance by the Board of Directors are being regarded as the main success factors behind the historic conversion journey. Mr. Yousaf Hussain, thanked the State Bank of Pakistan for their continuous support and patronage.

Read more: https://pakobserver.net/pakistan/

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