Emirates Global Islamic Bank Limited (EGIBL) and Habib Bank Limited (HBL) have signed an Inland Banking Arrangement agreement for the provision of facilities by HBL to EGIBL in respect of transactions expressed in Pakistani rupees relating to demand drafts, telegraphic transfers, collection of inland bills and inland letters of credit.

Hamid Imtiaz Hanfi, Head of FIs and Younus Khatri of HBL and Atif Ghaffar Rana Head of FIs and Abdul Qadir, Country Head Treasurer of EGIBL signed the agreement on behalf of their respective institutions.

Emirates Global Islamic Bank Limited has recently commenced operations with 5 branches in Karachi and 1 in Lahore and has plans to set up a network of at least 25 branches in the next two years to capitalise on the ever-growing demand for Islamic Banking in Pakistan. EGIBL is sponsored by Emirates Financial Holdings, Sharjah, UAE and Al-Rajhi Family of Saudi Arabia.-PR