SBP grants Islamic banking licence to ZTBL

Staff Reporter

Islamabad

State Bank of Pakistan (SBP) has issued Islamic Banking Licence to the Zarai Taraqiati Bank Limited. The bank will commence its Islamic banking Business by conversion of selected existing conventional banking branches into Islamic Branches.
The Zarai Taraqiati Bank Limited is the backbone of farmers’ communities and extending loans across the Pakistan, Gilgit Baltistan & AJK at the door step of the farmers through its wide spread branch network & Mobile Credit Officers on sustainable basis.
The ZTBL aims to provide Islamic and specialized banking services to effectively serve the financing needs of the farmers in the country by leveraging on its experience and technology platform.
The ZTBL’s entry into Islamic Banking Operations represents growing confidence of State Bank of Pakistan and stable economic outlook.
The President of the Bank has already taken on board a team of Islamic banking Professionals and Shariah Board by the approval of its Board of Directors.
No doubt, the grant of Islamic Banking Licence is due to tireless efforts & perpetual struggle of President ZTBL & its team.
The farmers’ communities, general public and employees of the Bank welcomed the new venture of business avenue for ZTBL and it will provide a new platform to extend more facilities & services especially to our farmers and generally to public at large.

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