The National Bank of Pakistan (NBP) has recently inaugurated new Islamic Banking Branch “Aitemaad” in order to promote Islamic banking in the country. The branch was inaugurated at I & T Center in G-9/1 Islamabad. The total number of Islamic Banking branches has now reached 170.

Some senior officials attended the ceremony at Islamabad including NBP President and CEO Saeed Ahmad, Head of NBP Islamic Banking Group Khwaja M Aminul Azam and officials from National Highway Authority (NHA) and Jamshoro Power company, besides government officials private businessmen and traders also participated in the ceremony.

While addressing the ceremony Senior Vice President of NBP regional head of Islamic Banking Muhammad Tariq Khattak applauded the efforts and vision of NBP Islamic Banking Group to spread the network across Pakistan. NBP plans to expand further and open or convert 50 more branches in 2018. “We strongly believe that Islamic Banking is the way forward which promises transparency and fairness to consumers, it has a great potential in developing the nation.”, said SVP.

CEO NBP Saeed Ahmad said we are excited to embark some profitable branches for conversion into Aitemaad Islamic Model. Aitemaad Hamsafar has entered into a car-financing market for the first time.

NBP has appointed an independent shariah board in order to comply with shariah rules in banking and ensuring pure Islamic banking in our services and products. NBP aitemaad has continued developing the products and services to reach out the potential customers, said the CEO NBP.

In October, State Bank of Pakistan has appreciated the Islamic Banking sector and said it has been growing in Pakistan. Not only this, Islamic Banking is growing across central Asia according to the report. However, NBP is not the only bank promoting Islamic banking, Mezaan Bank is quite successful in promoting the sector, the bank has been award the best Islamic bank of the year 2017.