Faysalbank.com: Difference between revisions
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Faysal Bank Limited is a Pakistani Islamic bank based in Karachi. Here are the key points about Faysal Bank: | |||
History and Overview: | |||
- Founded in 1987 as a subsidiary of Faysal Islamic Bank of Bahrain | |||
- Incorporated in Pakistan in 1994 as Al-Faysal Investment Bank | |||
- Converted to a full-fledged Islamic bank in 2022-2023 | |||
- Named after Mohammed bin Faisal Al Saud, son of the late King Faisal of Saudi Arabia | |||
- Listed on the Pakistan Stock Exchange | |||
Services and Products: | |||
- Offers Shariah-compliant banking services including: | |||
- Corporate, commercial and retail banking | |||
- Investment banking | |||
- Consumer financing | |||
- Trade finance | |||
- Treasury services | |||
- Provides Islamic deposit products like current accounts, savings accounts, and investment certificates | |||
- Offers Islamic financing products like car finance, home finance, personal loans etc. | |||
- Digital banking services through mobile app, internet banking, ATMs etc. | |||
Key Facts: | |||
- Network of over 700 Islamic banking branches across Pakistan | |||
- Serves retail, SME, commercial, agri-based and corporate customers | |||
- Offers Roshan Digital Accounts for overseas Pakistanis | |||
- Provides priority banking services for high net worth individuals | |||
- Has over 8,700 employees as of 2023 | |||
Digital Banking: | |||
- Offers Faysal DigiBank mobile app and internet banking platform | |||
- Provides services like fund transfers, bill payments, mobile top-ups etc. | |||
- Allows account opening and management through digital channels | |||
- Offers features like virtual cards, QR payments, scheduled payments etc. | |||
Islamic Banking Focus: | |||
- Fully converted to Islamic banking in 2022-23 | |||
- All products and services are Shariah-compliant | |||
- Has a dedicated Shariah Board to oversee Islamic banking operations | |||
- Invests deposits in Shariah-compliant modes like Mudarabah, Musharakah, Ijarah etc. | |||
In summary, Faysal Bank has transformed from a conventional bank to become one of the largest full-fledged Islamic banks in Pakistan, offering a wide range of Shariah-compliant banking and financial services through physical and digital channels. | |||