Karachi December 30 2022: Faysal Bank has completed its conversion from a Conventional Bank to a full-fledged Islamic Bank, according to the Bank filing to the exchange.
Accordingly, the State Bank of Pakistan has been pleased to grant 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.
“ALLHAMDOLILLAH, from January 1, 2023, Faysal Bank Ltd., will conduct its business and operations as an Islamic Bank under the duly issued Islamic Banking License” says Banks Chairman Farooq Rahmatullah Khan.
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