U Bank launches first Islamic banking window in Karachi

June 05, 2024 (MLN): U Microfinance Bank Ltd. (U Bank) has launched its first Islamic Banking Window in Karachi, which will be followed by the availability of Islamic Banking Windows across all 28 of its branches in the city.

The launch marks a significant milestone in U Bank's mission to provide accessible and Shari'ah-compliant banking services to its customers.

This is the first step in U Bank's strategic plan to roll out these services across its network of 375+ branches throughout Pakistan.

The inaugural ceremony of the first Islamic Banking Window was held at U Bank’s Clifton branch, which was graced with the presence of Mohamed Essa Al Taheri, President & CEO – U Bank, Syed Irfan Ali, Executive Director Financial Inclusion Group - SBP as the Chief Guest, as well other members of the SBP and the management committee of U Bank.

It is worth mentioning that U Bank is a wholly-owned subsidiary of Pakistan Telecommunication Company Limited (PTCL) – Etisalat Company.

The bank has established a dedicated Islamic Banking Division that promises to serve by combining banking with traditional Islamic values.

Within the confines of Shari'ah, the bank is offering enhanced products and services that provide its customers with reliable and innovative ways of banking.

Copyright Mettis Link News