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

, 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 {{Pakistan-company-stub