Faysal Bank

About

Faysal Bank began in 1994 as the Pakistani operations of Faysal Islamic Bank of Bahrain and is majority-owned by Ithmaar Bank of Bahrain. Headquartered in Karachi, it completed a conversion from conventional to fully Islamic banking at the start of 2023 — the largest such conversion undertaken by a Pakistani bank, requiring every existing product, contract and branch to be restructured under Shariah-compliant terms.

In context

We hold 19 other bank companies founded in the 1990s. 4 of them have closed, after a median of 13 years, and 15 have no closure recorded.

Counted across this directory, from founding and closing years in public records. Medians cover only companies whose closure is recorded; a company with no closure date may have quietly ceased without the record catching it.