Faysal Bank has been awarded “Best Emerging Islamic Bank – 2019”

Islamabad, February 20, 2020 (PPI-OT):Faysal Bank is one of the fastest growing banks in Pakistan and is on its journey to convert from a conventional bank to a full-fledged Islamic Bank, which is regarded as the largest conversion in the financial sector. The Bank has already successfully converted a large portion of its conventional banking network and portfolio into Islamic. At the end of 2019, Faysal Bank has a total of 555 branches, out of which 414 are dedicated Islamic branches.

The Bank, in the last two years, has grown significantly in terms of its footprint, Islamic products and its customer base both through its expanding network and digital banking. On this occasion, the CEO reiterated the vision of the Bank to be the leading Islamic Bank in Pakistan with customer centricity and technology as the pillars of growth.

For more information, contact:
Head Office,
Faysal Bank Limited
Faysal House, ST-02, Shahrah-e-Faisal, Karachi, Pakistan
UAN: +92-21-111-747-747
Fax: +92-21-32795234
Email: corpcomm@faysalbank.com
Website: www.faysalbank.com

Faysal Bank Limited – First commercial bank in Pakistan to partner with Payoneer for cross-border payments

Karachi, February 07, 2020 (PPI-OT): Faysal Bank Limited (FBL) continues to introduce digitally enabled solutions for customers, the Bank has recently partnered with Payoneer, a globally recognized digital payment platform empowering businesses around the world to make fast, secure and convenient cross border payments. The ceremony was attended by senior management of both organizations.

This agreement will improve FBL customers experience through instant fund withdrawal from Payoneer account, along with host of banking services. This first of its kind initiative, which is being led by FBL, will add stimulus to the already vibrant freelancers community along with technology-based financial sector of Pakistan.

FBL Head Corporate and Investment Banking, Mr. Ali Waqar said: “We are delighted to join Payoneer and access the fast-growing network that connects its customers and partners. This partnership is also in line with the E-Commerce policy to facilitate freelancers and companies in receiving payments via home remittance channels.”

“This announcement represents FBL commitment to adopt the latest innovative solutions and reflects our ability to transform FBL to digital bank with world class services and solutions. Dato’ Arif Siddiqui, Chief Digital Officer, FBL added.

Vice President, South East Asia and Pakistan, Payoneer, Mr. Miguel Warren said: “Pakistani online outsourcing individuals and companies have immense potential. Payoneer is their business partner, extending unmatched experience and support through our partner network, superior technology and innovative services. Partnering with FBL is a milestone of investment in the local business community, bringing them real time, secure withdrawal.”

Mr. Mohsin Muzaffer, Country Manager Pakistan, Payoneer added, “By joining Payoneer’s growing global network, financial institutions like FBL can process their customers’ payments into Pakistan instantly, reliably and cost-effectively, as well as expand their footprint in to new markets – including those that are otherwise too difficult or expensive to reach”, he added.

FBL aims to provide par excellence services to its clients. Payoneer already has over 4 Million customers worldwide in 200+ countries and territories. Joining Payoneer enables FBL to process cross-border payments in real time with end-to-end tracking and certainty of settlement.

For more information, contact:
Head Office,
Faysal Bank Limited
Faysal House, ST-02, Shahrah-e-Faisal, Karachi, Pakistan
UAN: +92-21-111-747-747
Fax: +92-21-32795234
Email: corpcomm@faysalbank.com
Website: www.faysalbank.com

Faysal Bank Limited sponsors IFN Pakistan to promote Financial Inclusion through Islamic Banking

Karachi, December 19, 2019 (PPI-OT): One of Pakistan’s leading banks, Faysal Bank Limited (FBL), was amongst the lead sponsors and participants in this year’s IFN Forum Pakistan conference. The day-long conference was held in partnership with the State Bank of Pakistan. The IFN Forum Pakistan conference provides local regulators, market players and interested stakeholders an impartial platform to identify critical issues and objectively discuss potential solutions for the Islamic Banking industry. Faysal Bank Limited is committed to expanding financial inclusion through Islamic finance.

Speaking on the panel for Financial Inclusion through Islamic Finance, Mr. Muhammad Faisal Shaikh, Head Islamic Banking, Faysal Bank Limited, said: “On the Fintech side, to increase our reach to the mass population, we are working on a new digital strategy in which we are coming up with new payment strategies, including mobile wallets. We have also hired the services of an International Consultant who is advising us on developing our digital banking model.

In order to increase financial inclusion in the country, we have also partnered with IBA Karachi and IMSciences Peshawar to increase awareness about Islamic Banking products and services in Pakistan.” Commenting with regards to what regulatory initiatives the Islamic Banking industry would like to see, to increase financial inclusion, Mr. Faisal Shaikh stated: “It is time we all collaborate on an industry level to make it easier for the investors and SMEs to simplify the process of Islamic Banking transactions through effective usage of Islamic Fintech solutions. This will not only benefit the industry, but will also help increase the penetration of Islamic Banking on the SME side.”

Responding to a question regarding the transformation process Faysal Bank is undergoing, he added, “As you are aware Faysal Bank is going through a conversion process, which is in fact the largest conversion process in the world. Nowhere in the world has a bank, with more than 200 branches, been converted. We are not just converting our existing branches but we are opening new branches as well. On 31st December 2018 we had 255 Islamic banking branches, by the end of this year we will have 414 Islamic branches. We have converted 64 branches and added more than 100 branches this year.”

Ms. Tayyaba Rasheed, Executive Vice-President and Head of the Investment Banking Group, Faysal Bank Limited, speaking on the panel for Infrastructure Financing – Potential for Islamic Finance said: “The State Bank of Pakistan has played an effective role by introducing the infrastructure finance regulations back in 2016. They have already established the footprint for taking infrastructure project financing and infrastructure sector spending to the next level, but this is not enough.

Commercial banks who are involved in infrastructure spending are collectively spending, on an average, PKR 150 billion annually; whereas the requirement for infrastructure spending in the country is PKR 400 billion annually, so there is a huge gap. To fill this gap Public Private Partnerships, which are globally an accepted method of financing, is the need of the day.”

For more information, contact:
Head Office,
Faysal Bank Limited
Faysal House, ST-02, Shahrah-e-Faisal, Karachi, Pakistan
UAN: +92-21-111-747-747
Fax: +92-21-32795234
Email: corpcomm@faysalbank.com
Website: www.faysalbank.com

Faysal Bank Limited and Majestic Lounge sign MoU

Islamabad, November 21, 2019 (PPI-OT): One of Pakistan’s leading banks, Faysal Bank Limited (FBL) is proud to announce its partnership with Majestic Lounge to provide quality facilities to its Credit Cards holders at Karachi and Peshawar airports.

The MoU which was signed between Mr. Tahir Yaqoob Bhatti, Head of Retail Banking, Faysal Bank Limited and Mr. Khurram Zafar, CEO Majestic Lounge, will ensure that Faysal Bank Limited’s Gold, Titanium, Platinum and World Credit Card holders can now wait for their flights in comfort.

Some of the key features of the Majestic Lounge, which will replace the CIP Lounge in international departures at Jinnah International Airport and Peshawar International Airport, include: exclusive cigar lounge, quality food by Cocochan, high speed Wi-Fi and laptop service, hot and cold beverages, charging stations, a business center and flight information and announcements.

Speaking at the signing ceremony, Mr. Tahir Yaqoob Bhatti, Head of Retail Banking, Faysal Bank Limited said, “We, at Faysal Bank Limited, are constantly striving to provide our customers with best-in-class facilities. The partnership with Majestic Lounge demonstrates our commitment towards our valued cardholders.”

Syed Iftikhar Ul Haq, Head of Consumer Finance, Abid Malik, Product Head – Cards and Rahil Sayani, Head – Loyalty and Alliances, Faysal Bank Limited, were also present at the ceremony. In addition to the above-mentioned features, Platinum and World Credit Card, as well as, Platinum Debit Card Holders will also be able to avail Fast Track Services. These facilities include: fast track through immigration and security, hand baggage trolleys on request, complimentary welcome drink, porter service, golf cart service on request and dedicated one on one service.

For more information, contact:
Head Office,
Faysal Bank Limited
Faysal House, ST-02, Shahrah-e-Faisal, Karachi, Pakistan
UAN: +92-21-111-747-747
Fax: +92-21-32795234
Email: corpcomm@faysalbank.com
Website: www.faysalbank.com

Faysal Bank Limited Supports IoBM’s International Conference on Islamic Banking and Finance

Islamabad, November 07, 2019 (PPI-OT): One of Pakistan’s leading banks, Faysal Bank Limited (FBL) participated in the Institute of Business Management (IoBM)’s International Conference on Islamic Banking and Finance. The two-day conference which took place at the Institute of Business Management is now in its 3rd year.

Faysal Bank Limited has displayed its commitment to developing academic resources who can contribute towards the success of the industry by supporting initiatives on Islamic finance. The theme of this year’s conference was Islamic Finance for Small and Medium Enterprises (IFSME) and Social Responsibility.

Speaking at the event in regards to the SME sector, Mr. Muhammad Faisal Shaikh, Head of Islamic Banking, Faysal Bank Limited said, “As per the trends seen in our banks the SME sector in Pakistan does prefer Islamic Banking. However, a communication gap has developed between those from the SME sector and the banks. In order to boost financing to this sector I would recommend that a proper system within Banks be established to provide the right support to SMEs.”

The conference was attended by the Presidents and CEOs of various Islamic Banks. Faysal Bank Limited’s Shariah Board comprises of renowned Shariah Scholars who oversee the business of their Islamic banking segment and ensure its compatibility and compliance with Shariah principles. Faysal Bank Limited’s footprint now spreads over more than 170 cities with over 500 (including 325 Islamic) branches.

For more information, contact:
Head Office,
Faysal Bank Limited
Faysal House, ST-02, Shahrah-e-Faisal, Karachi, Pakistan
UAN: +92-21-111-747-747
Fax: +92-21-32795234
Email: corpcomm@faysalbank.com
Website: www.faysalbank.com

Faysal Bank Limited – First bank in Pakistan to partner with Ripple to offer instant cross border home remittances

Karachi, September 06, 2019 (PPI-OT): Faysal Bank Limited (FBL) continues to introduce digitally enabled solutions for its customers through partnering with Ripple, a globally recognized company for fast, secure and convenient cross border payments service. This agreement which was signed recently in Karachi, under the leadership of Mr. Yousaf Hussain, President and CEO – Faysal Bank Limited, Faysal Bank has become the first bank in Pakistan to join the growing network of Ripple globally. The ceremony was attended by senior management of both organizations.

This agreement will improve FBL home remittances customers’ experience through instant fund transfers with end-to-end tracing and tracking solutions which is available currently in global and some GCC markets including UAE and Saudi Arabia.

FBL Head Corporate and Investment Banking, Mr. Ali Waqar said: “In line with our vision for excellence in all that we do, we are delighted to join Ripple and access the fast-growing network that connects its members and other financial institutions. It is coherent with Faysal Bank Limited (FBL) strategy to offer cutting-edge solutions which mutually benefits both the bank and our esteemed clients.”

“This announcement represents FBL commitment to adopt the latest innovative solutions and reflects our ability to transform FBL to digital bank with world class services and solutions. Dato’ Arif Siddiqui, Chief Digital Officer, FBL added.

FBL aims to provide par excellence services to its clients, Ripple already has more than 200 customers around the world, joining Ripple enables FBL to process cross-border payments in real time with end-to-end tracking and certainty of settlement.

For more information, contact:
Head Office,
Faysal Bank Limited
Faysal House, ST-02, Shahrah-e-Faisal, Karachi, Pakistan
UAN: +92-21-111-747-747
Fax: +92-21-32795234
Email: corpcomm@faysalbank.com
Website: www.faysalbank.com

Faysal Bank Ltd and Indus Hospital Partnered for an Islamic Product Alliance

Karachi, May 14, 2019 (PPI-OT): Faysal Bank Limited, one of the leading banks in Pakistan has partnered with Indus Hospital to introduce Faysal Islamic Rehmat Account for its customers. Mr. Yousaf Hussain, President and CEO, Faysal Bank Limited, signed the MoU along with Dr. Abdul Bari Khan, CEO – Indus Hospital, in the presence of senior executives from both organisations at Faysal Bank Head Office.

In line with the banks strategic vision to become a full-fledged Islamic bank offering innovative products for its customers, this initiative envisions Faysal Bank to make a donation to Indus Hospital on a regular basis.

Mr. Yousaf Hussain, President and CEO – Faysal Bank Limited said, “In line with our vision to become a complete Islamic bank, we at Faysal Bank believe in offering innovative products to our customers in accordance with their beliefs and Faysal Islamic Rehmat account is one of our initiatives to contribute to the well being of our communities through the support of our valued clientele”.

Commenting on this affiliation, Dr. Abdul Bari Khan, CEO – Indus Hospital said, “We are excited to embark on this collaborative journey with Faysal bank to further the noble cause of Indus Hospital and look forward towards a sustained partnership to support our communities”.

For more information, contact:
Head Office,
Faysal Bank Limited
Faysal House, ST-02, Shahrah-e-Faisal, Karachi, Pakistan
UAN: +92-21-111-747-747
Fax: +92-21-32795234
Email: corpcomm@faysalbank.com
Website: www.faysalbank.com