SBP authorises BankIslami subsidiary BIPL Exchange Company to commence operations

The State Bank of Pakistan (SBP) has granted authorisation to BIPL Exchange Company (Private) Limited, a wholly owned subsidiary of BankIslami Pakistan Limited, to commence business operations.

BankIslami disclosed the development to the Pakistan Stock Exchange on Thursday, stating that the approval follows its earlier plans to establish the exchange company.

“Alhamdulillah, we are pleased to inform you that the State Bank of Pakistan has granted the authorization for Commencement of Business to BIPL Exchange Company (Private) Limited,” read the bank’s notice sent to the PSX. 

The new entity will operate as part of the bank’s expansion into exchange and currency-related services.

The company informed the exchange that the authorisation has been granted by the central bank, allowing the subsidiary to begin operations.

In July 2025, BankIslami Pakistan was granted a No Objection Certificate by the SBP to establish BIPL Exchange Company (Private) Limited.