SBP grants in-principle approval to Samba Bank for Islamic operations

MG News | October 16, 2025 at 03:16 PM GMT+05:00

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October 16, 2025 (MLN): The State Bank of Pakistan (SBP) has granted an in-principle approval to Samba Bank Limited (PSX: SBL) to commence Shariah-compliant business and operations, the bank informed the Pakistan Stock Exchange today.

The approval marks a key step in Samba Bank’s planned conversion from a conventional to a fully Islamic bank, as outlined in its earlier communication to regulators dated March 13, 2025.

The central bank’s go-ahead is, however, subject to the fulfillment of prescribed regulatory requirements and conditions.

This development positions Samba Bank among a growing number of financial institutions transitioning toward Islamic banking in Pakistan, in line with the country’s broader strategy to move toward a Shariah-compliant financial system.

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