Allied Bank opens first Islamic branch at DHA Phase V

Allied Bank Limited has launched its Islamic Banking with the inauguration of its first Islamic Banking Branch at DHA Phase V, Lahore. The branch was inaugurated by Saeed Ahmad, Deputy Governor, State Bank of Pakistan. Naeem Mukhtar, Chairman, Directors, CEO and Chief Islamic Banking Group, Allied Bank along with a large number of bank customers, government officials and dignitaries of the area were also present on the occasion.
The State Bank of Pakistan recently awarded Islamic banking license to Allied Bank, following which the Bank converted its DHA Phase V, Lahore branch from conventional to Islamic banking. The addition of Allied Bank into Islamic banking industry would not only promote healthy competition within the industry but would also result in an overall improvement in service quality and choice for the customer. The Bank intends to convert at least 19 more branches from conventional to Islamic banking.-PR