Islamabad, Mar 5, 2025: Khushhali Microfinance Bank Limited (KMBL) has taken a major initiative to strengthen its Islamic banking services, aligning with the State Bank of Pakistan’s Vision 2028.
This strategic plan supports the conversion of conventional banks into fully Shariah-compliant financial institutions, following the directives of the Federal Shariat Court.
To advance this goal, Khushhali Islamic Banking has entered into a partnership with Qazi Shariah Consultancy.
This collaboration will leverage the consultancy’s vast expertise in Islamic finance, ensuring that the bank’s financial offerings align with Shariah principles.
Read More:
JS Bank Reports 64% Growth in Profit Before Tax for 2024
By integrating Shariah governance into its operations, KMBL aims to broaden its Islamic banking portfolio and provide ethical financial solutions for both individuals and businesses.
Aameer Karachiwalla, CEO of KMBL, underscored the importance of this alliance, stating, “Our priority is to deliver innovative, interest-free banking solutions that cater to our customers’ financial requirements while strictly adhering to Islamic banking guidelines.”
With the regulatory framework established by the State Bank of Pakistan, KMBL is taking proactive steps to develop a robust Islamic banking ecosystem.
Read More:
PSW Begins Design Phase of Airport Community System to Digitize Air Cargo Operations
This initiative addresses the rising demand for ethical and riba-free banking services, ensuring greater financial inclusion while upholding Islamic financial principles.
