Faysal Bank Limited is a Pakistani Islamic bank, a subsidiary of KSA Holdings ultimate parent of bank is KSA Holdings and
Ithmaar Bank
Ithmaar Bank B.S.C. (closed) ("Ithmaar Bank") is a Bahrain-based Islamic retail bank that is licensed and regulated by the Central Bank of Bahrain and provides retail, commercial, treasury & financial institutions and other banking services.
I ...
, based in
Karachi
Karachi (; ur, ; ; ) is the most populous city in Pakistan and 12th most populous city in the world, with a population of over 20 million. It is situated at the southern tip of the country along the Arabian Sea coast. It is the former cap ...
,
Pakistan
Pakistan ( ur, ), officially the Islamic Republic of Pakistan ( ur, , label=none), is a country in South Asia. It is the world's List of countries and dependencies by population, fifth-most populous country, with a population of almost 24 ...
.
It is named after
Mohammed bin Faisal Al Saud
Mohammed bin Faisal Al Saud ( ar, محمد بن فيصل آل سعود, ''Moḥammed bin Fayṣal Āl Saʿūd''; 1937–14 January 2017) was a Saudi prince and businessman. He was a son of King Faisal and was one of the pioneers in the establishm ...
.
History
Faysal Bank started in Pakistan in October 1987 with a tiny branch and as a subsidiary of Faysal Islamic Bank, a Bahraini bank owned by
Mohammed bin Faisal Al Saud
Mohammed bin Faisal Al Saud ( ar, محمد بن فيصل آل سعود, ''Moḥammed bin Fayṣal Āl Saʿūd''; 1937–14 January 2017) was a Saudi prince and businessman. He was a son of King Faisal and was one of the pioneers in the establishm ...
, the son of the late King
Faisal of Saudi Arabia
Faisal bin Abdulaziz Al Saud ( ar, فيصل بن عبدالعزيز آل سعود ''Fayṣal ibn ʿAbd al ʿAzīz Āl Suʿūd'', Najdi Arabic pronunciation: ; 14 April 1906 – 25 March 1975) was a Saudi Arabian statesman and diplomat who was ...
.
It was incorporated in Pakistan on 3 October, 1994 as a public limited company under the Companies Ordinance, 1984.
ABN AMRO
ABN or abn may refer to:
Companies
* ABN AMRO Group, a Dutch bank group
* ABN AMRO, sometimes referred to as "ABN" in shorthand, is a Dutch state-owned bank
* Algemene Bank Nederland, a now-defunct Dutch bank
Radio, news and television organizat ...
Bank Pakistan, a predecessor to Faysal Bank, acquired Prime Commercial Bank consisting of 69 branches and spanning 24 cities in 2007 for to expand its loan and deposit base.
In June 2010,
Royal Bank of Scotland sold its Pakistan operations to Faysal Bank for .
In 2014 it announced to convert itself into a full-fledged Islamic Bank in three to five years.
It finally converted to a full-fledged Islamic bank by December 2022.
References
External links
Faysal Bank official website
Banks established in 1994
Banks of Pakistan
Companies based in Karachi
Companies listed on the Pakistan Stock Exchange
Islamic banks of Pakistan
Pakistani companies established in 1994
Pakistani subsidiaries of foreign companies
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