National Bank of Pakistan (NBP) has re-launched its Islamic Banking with tagged
"Aitemaad" to extend Sharia financial service. Under the revamping programme of NBP
Islamic Banking division is being re-branded and aggressive marketing and awareness
campaign of its products and services has been planned. Sources in banking sector told
Business Recorder that the top NBP management is working aggressively to establish a
widespread network of Islamic banking services to scale up Islamic banking businesses and
services to cater the need of customers throughout the country.
NBP exists with its branches in rural and far-flung areas where no financial institutions and
domestic or foreign banks have established their presence. The well established branch
network will provide a support to the bank for the rapid growth of the Islamic Banking. The
bank has already been working aiming to provide banking services to masses without too
much of commercial interest.
NBP management has re-launched Islamic Banking after reviewing the whole industry
products and services and planned to launch that products/ services which could not be given
at the moment by the other industry players, sources said. The State Bank of Pakistan (SBP)
has already planned to promote Islamic Banking industry throughout the country and in
Ramazan this year a special media campaign was launched by the regulator, with other
industry stakeholders. Therefore, it's the right time for NBP to re-launch Sharia financing
services.
The NBP management is planning to expand its Islamic banking services through opening of
new branches in various cities and converting conventional banking branches into Islamic in
the cities where the bank's presence is much stronger, they informed.
Sources in the banking industry said that NBP is one of the strong banks through which
central bank could achieve its objective to promote Islamic banking through its wide network
of branches. NBP's management is keen to acquire maximum share in the developing Islamic
Banking Industry (IBI) in the country with all available support from different public and
private sector entities and with the government, they added. It may be mentioned here that
NBP, one of the largest bank, established its Islamic Banking Division late in 2006. It has
branches network of Islamic banking merely in eight major cities despite its branches
network has widened to 1,313 at present.
"Aitemaad" to extend Sharia financial service. Under the revamping programme of NBP
Islamic Banking division is being re-branded and aggressive marketing and awareness
campaign of its products and services has been planned. Sources in banking sector told
Business Recorder that the top NBP management is working aggressively to establish a
widespread network of Islamic banking services to scale up Islamic banking businesses and
services to cater the need of customers throughout the country.
NBP exists with its branches in rural and far-flung areas where no financial institutions and
domestic or foreign banks have established their presence. The well established branch
network will provide a support to the bank for the rapid growth of the Islamic Banking. The
bank has already been working aiming to provide banking services to masses without too
much of commercial interest.
NBP management has re-launched Islamic Banking after reviewing the whole industry
products and services and planned to launch that products/ services which could not be given
at the moment by the other industry players, sources said. The State Bank of Pakistan (SBP)
has already planned to promote Islamic Banking industry throughout the country and in
Ramazan this year a special media campaign was launched by the regulator, with other
industry stakeholders. Therefore, it's the right time for NBP to re-launch Sharia financing
services.
The NBP management is planning to expand its Islamic banking services through opening of
new branches in various cities and converting conventional banking branches into Islamic in
the cities where the bank's presence is much stronger, they informed.
Sources in the banking industry said that NBP is one of the strong banks through which
central bank could achieve its objective to promote Islamic banking through its wide network
of branches. NBP's management is keen to acquire maximum share in the developing Islamic
Banking Industry (IBI) in the country with all available support from different public and
private sector entities and with the government, they added. It may be mentioned here that
NBP, one of the largest bank, established its Islamic Banking Division late in 2006. It has
branches network of Islamic banking merely in eight major cities despite its branches
network has widened to 1,313 at present.
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