Security Investment Bank Limited to convert into Shariah-compliant entity

Karachi, The Board of Directors of Security Investment Bank Limited has decided to convert the bank into a Shariah-compliant entity. The decision was made during a meeting held on April 26, 2023.

In line with the decision, the Board of Directors has authorized the Chief Executive Officer, Chief Financial Officer, or Company Secretary to inform the Pakistan Stock Exchange and complete the necessary regulatory requirements.

The conversion to a Shariah-compliant entity is expected to attract a new investor base and enhance the bank’s profitability. The move is in line with the bank’s commitment to providing Shariah-compliant financial products and services.