BankIslami
BankIslami Pakistan Limited (Urdu pronunciation: [bɛŋk ɪs.ˈlaː.mi] bank-is-LAH-mee) is a Pakistani Islamic bank based in Karachi.[2] HistoryBankIslami was founded on March 31, 2005. On the 26th of September 2005, Dubai Bank joined the sponsors and became one of the founding shareholders of BankIslami by investing 18.75% in the total capital. The bank started its operations on 7 April 2006 and began offering shariah-compliant retail banking, investment banking, consumer banking, and trade finance products. In May 2015, KASB Bank was acquired by BankIslami and later its branches were merged into BankIslami.[3] KASB Bank was formerly known as Platinum Commercial Bank.[4] In 2002, Khadim Ali Shah Bukhari & Company Limited (KASB) acquired the bank, and the two entities merged the following year.[4] The merger led to the renaming of the bank as KASB Bank in 2003.[4] BankIslami made an initial public offering in March 2006.[5] References
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