LAHORE (May 12 2007): Islamic Banking is rightly identified as an untapped segment in the banking sector that after introduction in Pakistan in 2001 it has acquired three percent share in a short span of time. Punjab Governor Lieutenant General (Retd) Khalid Maqbool stated this while inaugurating the first branch of Dubai Islamic Bank here on Friday.
Dubai Islamic Bank is well recognised for setting high standards of excellence through innovative product development, landmark transactions and strict Shariah compliance.
The bank commenced operations in Pakistan in March, 2006. Dubai Islamic Bank has 12 branches in seven major cities, Karachi, Lahore, Rawalpindi, Islamabad, Faisalabad, Gujrat and Peshawar. Bank's CEO in Pakistan Saad Zaman, Vice Chairman Saad Abdul Razak, bank's board members and other senior officials were also present on the inauguration ceremony - PR