Sindh Bank President and CEO Muhammad Anwar announced plans to convert 60 of the bank’s 330 branches to Islamic banking in 2025, stating that by 2027, the bank intends to complete the conversion process across all branches, with 150 branches transitioning in 2026 and 120 more by 2027.
Speaking at the certificate distribution ceremony at Saylani School of Business and Islamic Leadership (SBIL), Sindh Bank president emphasised that the move towards Islamic banking was not prompted by external pressures but was a voluntary decision based on the bank’s belief that Islamic banking offers a superior and more disciplined alternative to conventional commercial banking.
He highlighted the importance of Islamic banking, describing it as a more ethical and transparent financial system. He reiterated that the transition to Islamic banking aligns with the bank’s values and commitment to providing customers with fully transparent transactions, free from hidden conditions.
State Bank of Pakistan (SBP) Deputy Governor Saleemullah, also addressing the ceremony, emphasised the need for Islamic banking to go beyond nomenclature and be visibly reflected in practices. He said that Islamic banking represents a transparent financial system, rooted in the trade practices established 1,400 years ago.
He urged banks and industry experts to set ethical examples, ensuring customers are fully informed that their transactions are free from hidden conditions. “Islamic banking must be demonstrated in action, not just in name,” he stressed, acknowledging the vital role the business community plays in generating wealth and employment for the nation.
