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Faysal Bank

Made Today

بنك فيصل

A Pakistani Islamic bank in Karachi, which began in Pakistan in October 1987 as a branch of Bahrain's Faysal Islamic Bank, owned by Prince Mohammed bin Faisal; it became a conventional bank and converted fully to Islamic banking in December 2022; Bahrain's Ithmaar Bank holds most of it.

Depth

At a glance

Region
South Asia
Identifiers
Wikidata

Trade and financeThe halal economy

In the Modern Islam Browser

Modern Islam BrowserEnterprise, brands and finance1987Pakistan

Footprint

On Wikipedia in:arbnenfapnbur (read on 2026-11-07)

Wikidata:Q5439099

Summary

Faysal Bank Limited is a Pakistani Islamic bank based in Karachi, named after Prince Mohammed bin Faisal Al Saud. 1 It had 900 branches in 2025, and Bahrain's Ithmaar Bank holds 66.78% of it. 1

Beginnings

It started in Pakistan in October 1987 with a small branch of Bahrain's Faysal Islamic Bank, owned by Prince Mohammed bin Faisal, within the Dar al-Maal al-Islami Trust founded in Geneva in 1981 to promote Islamic banking. 1 In 1995 its branches were incorporated as a conventional bank, Al-Faysal Investment Bank, and listed on the Karachi Stock Exchange. 1

Losing and regaining Shariah status

In 2002 the Islamic investment bank merged with the conventional bank, losing its Shariah-compliant status, and deposits fell 23% in a year. 1 In 2010 it bought RBS Pakistan. 1 In 2014 it announced a full conversion to Islamic banking, completed in December 2022 with an Islamic banking licence. 1

Controversies

In the mid-2000s its head of investment banking was charged with insider trading in New York. 1 The State Bank of Pakistan fined it in July 2020 and October 2022 for regulatory and operational violations. 1

References

  • English Wikipedia, "Faysal Bank", revision 1365253467. 1

People and things also explored

Islamic banks and conventional banks — the difference, the doubts and the performance· Abu Dhabi Islamic Bank· Alrajhi Bank· Alinma Bank· Bank Albilad· Dubai Islamic Bank· Dukhan Bank· Emirates Islamic

Sources

  1. Faysal Bank — English Wikipedia
  • Wikidata
Cite this page

islam.museum contributors. “Faysal Bank”. islam.museum, https://islam.museum/en/listing/faysal-bank/. CC BY-SA 4.0. Last updated 2026-11-07.

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Islamic banks and conventional banks — the difference, the doubts and the performance

The two 'Al-Wasatiyya' episodes on Islamic banks. In the first, 56% of the studio audience said they could not define riba, 79% that they knew nothing of the murabaha, mudaraba, tawarruq and salam contracts, and they split into thirds on whether Islamic banks are free of doubt; in the second, 65% chose to buy by murabaha from an Islamic bank, 57% thought abolishing riba impossible while the world economy runs on interest, and 49% judged Islamic banks' social role weaker. The guests agreed that conventional bank interest is riba and differed over the existing Islamic banks.