BankIslami granted SBP approval to establish Exchange Company

Karachi, Pakistan – July 25, 2025:BankIslami Pakistan Limitedhas announced that it has received a No Objection Certificate (NOC) from the State Bank of Pakistan (SBP) to establish a new exchange company under the nameBIPL Exchange Company (Private) Limited. The development was disclosed in an official notice submitted by the bank to the Pakistan Stock Exchange (PSX) on Thursday. “State Bank of Pakistan has conveyed its ‘No Objection’ to BankIslami Pakistan Limited for establishing an exchange company in the name of BIPL Exchange Company (Private) Limited,” the bank stated in its filing. BankIslami, a leading Islamic financial institution in the country, currently operates a network of over 540 branches nationwide and offers a wide range of Shariah-compliant banking products and services. The move reflects the bank’s ongoing efforts to expand its footprint in the financial services sector, particularly in the growingforeign exchangeand remittance market.