Islamabad: Khushhali Microfinance Bank Limited (KMBL) has taken a major step toward expanding its Islamic banking services. The bank has partnered with Qazi Shariah Consultancy to strengthen its offerings in line with State Bank of Pakistan’s Vision 2028.
The partnership supports the Federal Shariat Court’s decision to transition conventional banking into a Shariah-compliant financial system. KMBL aims to meet the rising demand for ethical and riba-free banking services in Pakistan.
Ensuring Compliance with Islamic Banking
With clear SBP guidelines, KMBL is actively working to develop financial solutions that align with Islamic banking principles. Qazi Shariah Consultancy, with its expertise in Islamic finance, will assist KMBL in ensuring compliance with Shariah regulations.
The collaboration will help KMBL introduce new financial products that cater to individuals and businesses looking for interest-free banking options.
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Official Signing Ceremony
The official signing event was attended by key executives from both organizations, including:
- Aameer Karachiwalla – President & CEO, KMBL
- Muhammad Aftab Alam – Chief Business Officer, KMBL
- Maazullah Khan – Consultant, Qazi Shariah Consultancy
CEO KMBL’s Statement
Speaking at the event, Aameer Karachiwalla, CEO of KMBL, emphasized the significance of the partnership.
“As part of our commitment to financial inclusion and ethical banking, KMBL is proud to join hands with Qazi Shariah Consultancy. This partnership marks a milestone in our journey toward offering fully Shariah-compliant financial solutions, in line with the State Bank of Pakistan’s vision for the industry. We are dedicated to ensuring that our customers have access to innovative, riba-free banking services that meet their financial needs while adhering to Islamic principles.”
Future of Islamic Banking at KMBL
KMBL is set to expand its Islamic banking portfolio by introducing new products and services. The focus remains on ensuring Shariah governance while promoting financial accessibility for businesses and individuals seeking ethical banking solutions.
With this initiative, KMBL continues to play an active role in strengthening Islamic finance in Pakistan, making banking more inclusive and Shariah-compliant for its customers.
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