Fulfilling the demand: BoP opens first Islamic banking branch
The bank intends to expand its Islamic banking network in the future.
LAHORE:
The Bank of Punjab (BoP) has started its Islamic banking services with its first such branch in Garden Town Lahore. According to the bank’s press release issued here on Tuesday, the purpose of introducing Islamic compliance banking is to fulfil the increasing demand of customers who want modern banking facilities in compliance with Shariah demands. The State Bank of Pakistan has issued a license to the BoP for Islamic banking in accordance with the Banking Companies Ordinance of 1962, IBD circular of 29 April 2004, and the instructions it has issued from time to time. The bank has turned its Garden Town conventional banking branch into an Islamic banking branch. The bank intends to expand its Islamic banking network in the future.
Published in The Express Tribune, March 20th, 2013.
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