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Business & Finance Print edition: 2025-03-14

Samba Bank to convert operations into Islamic banking

Published March 14, 2025 Updated March 14, 2025 05:34am
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KARACHI: Samba Bank Limited has officially announced its decision to convert its operations from conventional banking to Islamic banking.

In compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1 (a) of the Pakistan Stock Exchange (PSX) Rule Book, the bank formally disclosed this strategic shift.

“The Board of Samba Bank Limited has, in principle, approved the plan to transition from conventional to Islamic banking,” the bank stated in an official notice sent to the Pakistan Stock Exchange (PSX).

As part of this process, Samba Bank will submit its tentative conversion plan to the State Bank of Pakistan (SBP) for regulatory approval.

Copyright Business Recorder, 2025

ISLAMIC BANKING Samba Bank Limited

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