Faysal Bank has transformed itself into a full fledged Islamic Bank

• News By : Web Desk
• 2023-01-01 16:32:55

Hyderabad: 1 Jan 2023: Faysal Bank has transformed itself into a full fledged Islamic Bank yesterday as SBP has issued "Islamic Banking" licence to it yesterday.
It is the largest ever transformation and unique in its kind from a larger conventional bank to Islamic one in the history of Pakistan.
With conversion it has become the 2nd largest player in Islamic bank industry and has direct competition to Meezan Bank which is market leader and fastest growing bank in Pakistan with largest market capitalization.
With greater access and larger branch network than Meezan Bank it will give a stiff competition to it.
The share of Faysal Bank FABL is already booming (added 5% gain to its value on last trading day) and has potential for hitting new highs.
Moreover, it can prove to be an attractive investment for those who only trade in shariah compliant shares, as well as for those who are looking for good shares to invest in.
Buying at dip is recommended.

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