Silkbank Limited has been granted a license by the State Bank of Pakistan (SBP) to commence its Islamic Banking operations in Pakistan. It is a result of strong financial growth in their existing conventional banking system that they will venture in establishing a dynamic Islamic banking system replete with cutting-edge products and services.
Expressing his views on this development, the Executive Director of Silkbank, MA Mannan, who himself is a seasoned Islamic banker, said that "the Bank already has the finest and most talented Islamic banking team in the country along with a state-of-the-art infrastructure, allowing it to deliver in the shortest possible time." He added: "We are very pleased to have received the license from the State Bank of Pakistan and are confident of performing as a key player in the industry." Mannan further stated that Silkbank will move aggressively in this direction and fully leverage its infrastructure to emerge as a leading Islamic bank in Pakistan and be the bank of choice for its Shariah banking customers.-PR