Adamjee Insurance Company Limited, an associated company of Muslim Commercial Bank Limited, is expected to develop Islamic insurance products soon. Chairman, Muslim Commercial Bank Limited (MCB), Muhammad Mansha, said this at a function following the inaugural ceremony of the fifth Islamic Banking Branch of MCB at Faisalabad on Wednesday.
According to a press release issued by MCB, the MCB chairman expressed his conviction about the success of Islamic Banking Operation in Pakistan in line with the increasing global demand of Islamic Banking.
The branch will provide Islamic Banking Products and Services to the people of Faisalabad, he added. He also acknowledged the support of Muhammad Adrees, President, Faisalabad Chamber of Commerce and Industry (FCCI), and said that Adamjee Insurance Company will also consider developing Islamic insurance products.
MCB President Mohammad Aftab Manzoor also addressed the function and assured that MCB is committed to promote Islamic Banking throughout the country. He said that like other Islamic Branches, Faisalabad Branch is also equipped with online banking facilities and can make available all electronics banking services within MCB network of branches.
A number of Shariah Compliant Islamic Banking products on deposits and investment sides are being offered to clients and all normal banking services including Foreign Exchange, ATM Facilities, Travellers Cheques, Debit Card, etc have been made available.
President Faisalabad FCCI, Muhammad Adrees on behalf of the Chamber thanked MCB Board of Directors and Management for taking needed steps in regard of opening of Islamic Banking Branch in Faisalabad. He also gave important suggestions for promoting Islamic Banking and Insurance in the country.
Muhammad Arshad and Sh Mukhtar Ahmed, Directors of MCB, CEO Sitara Chemical Industries Limited and other members of FCCI and elite businessmen and industrialists of the city also attended the ceremony.-PR
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