Area served Pakistan Founded 2007 Type of business Islamic bank | Website www.burjbankltd.com Headquarters Karachi | |
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Key people Ahmed Khizer Khan (CEO) Revenue PKR 1,188 Million (2009) Net income PKR 292.63 Million (2014) | ||
Burj bank limited
Burj Bank Limited, formerly known as Dawood Islamic Bank Limited (DIBL), now a part of Al Baraka Bank (Pakistan) Limited, was Pakistan's sixth full-fledged Islamic commercial bank. The bank received its license from the State Bank of Pakistan in May 2006, and officially commenced its operations on Friday, April 27, 2007. The Bank was the result of an initiative of the First Dawood Group, with the Islamic Corporation for the Development of the Private Sector (ICD) in Jeddah, Unicorn Investment Bank in Bahrain, Al Safat Investment Company in Kuwait, Gargash Enterprises (LLC) in Dubai, the Singapore-based entrepreneur Azam Essof Kolia and Shaikh Abdullah Mohammad Al-Romaizan, an entrepreneur from the Kingdom of Saudi Arabia. In July 2011, the bank was renamed Burj Bank Ltd.
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Prof. Mufti Munib-Ur-Rehman is heading Shariah Department of the Bank as the bank’s Shariah advisor. It currently has 75 online branches.
Burj Bank has a diversified range of Shariah Compliant funded and non-funded products and services aimed at both individual and corporate customers. The bank also offers investment and corporate advisory services. Burj Bank quoted the best Islamic bank by world financial magazine (Islamic finance awards 2013).
In 2016, the bank merged into Al Baraka Bank (Pakistan) Limited.