KARACHI — The State Bank of Pakistan (SBP) has granted in-principle approval to Samba Bank Limited (PSX: SBL) to begin Shariah-compliant business and operations, as announced by the bank in a notice to the Pakistan Stock Exchange today.
This approval marks a significant step in Samba Bank’s plan to convert from a conventional to a fully Islamic bank, as outlined in its communication to regulators on March 13, 2025.
However, the central bank’s approval is contingent on the fulfillment of certain prescribed regulatory requirements and conditions.
This move positions Samba Bank alongside other financial institutions transitioning towards Islamic banking, in line with Pakistan’s broader goal of developing a Shariah-compliant financial system.
