ISLAMIC COMMERCIAL BANKS

Islamic Commercial Banks

Islamic Commercial Banks

Introduction

Al Baraka Islamic Bank (AIB) has the honour of being the pioneer of Islamic banking in Pakistan and has been operating in the country as branches of Al Baraka Islamic Bank Bahrain since 1991. Over the years, the bank has successfully developed and maintained its identity as one of the leading providers of a host of banking products and services in strict compliance with Shari'ah principles.

Currently operating with 29 branches in 17 major cities of the country, AIB offers a wide array of Islamic financing products such as Murabaha, Ijara, Musharaka and Islamic Export Refinance, etc., catering to a diverse cross-section of the economy, including the Corporate, SME and Consumer sectors. Moreover, various Shari'ah compliant deposit schemes are available for customers to invest their funds in, along with a variety of other ancillary services such as online banking, ATM/debit card, safe deposit lockers and utility bill payments etc.

Al Baraka Islamic Bank (AIB) is a member of Al baraka Banking Group (ABG) which is a Bahraini Joint Stock Company listed on Bahrain and Dubai stock exchanges and one of the well-known leading international Islamic banks.

Dawood Islamic Bank Ltd

Dawood Islamic Bank Limited (DIBL), Pakistan's sixth full-fledged Islamic commercial Bank  officially commenced its operations on Friday, April 27, 2007. The Bank is the result of an initiative of the First Dawood Group who teamed up with Islamic Corporation for the Development of the Private Sector (ICD) Jeddah, Unicorn Investment Bank - Bahrain, Al Safat Investment Company - Kuwait, Gargash Enterprises (LLC) - Dubai, Mr. Azam Essof Kolia - a Singapore based entrepreneur and Shaikh Abdullah Mohammad Al-Romaizan, an entrepreneur from the Kingdom of Saudi Arabia.

DIBL has a strong Shariah Board headed by renowned scholar Prof. Mufti Munib -Ur-Rehman as the bank's Shariah advisor. 

The bank has been a profitable entity since its inception. DIBL has a vision to be the best provider of customer centric Shari'ah compliant products and services in Pakistan. To help our customers to succeed financially and to promote economic and social progress in Pakistan through innovative Shari'ah compliant products. Our aim is to first create wealth and then help our clients to manage it.

DIBL currently has 50 online branches, delivering the highest level of customer service and innovative Islamic finance solutions. The bank's internet banking solution , e-connect- is a great way to visit DIBL with comfort, security and any time round the clock to meet your e-banking needs. DIBL's Al-Mustaqeem ATM card offers its customers the convenience of accessing their funds through the country's ever expanding 1 Link and mnet ATM network. Additionally the Al-Mustaqeem card allows our customers to pay nationwide for goods and services at more than 8000 Mnet Point of Sales.

DAWOOD ISLAMIC BANK LIMITED

(Formerly: FIRST DAWOOD ISLAMIC BANK LIMITED)

BALANCE SHEET (UNAUDITED)

AS AT MARCH 31, 2008

ASSETS

 

 

 

 

 

2009

2008

Cash and balances with treasury banks

360139

380381

Balances with other banks

750647

187747

Due from financial institutions

152212

725022

Investments

1443534

1318657

Financing

4461651

3723752

Operating fixed assets

309513

299404

Deferred tax assets

20886

20065

Other assets

297735

195505

 

7796316

6850534

LIABILITIES

 

 

Bills payable

158052

80240

Due to financial institutions

0

0

Deposits and other accounts

3413876

2888762

Sub-ordinated ...