U Microfinance Bank (U Bank) has unveiled its inaugural Islamic Banking Window at its branch in Karachi, signaling a pivotal moment in its endeavor to provide accessible and Shari’ah-compliant banking solutions to its clientele. This launch heralds the commencement of Islamic Banking Windows across all 28 branches in the bustling metropolis, marking a significant stride in U Bank’s mission.
The inauguration ceremony, held at the Clifton branch, was graced by esteemed dignitaries including Mr. Mohamed Essa Al Taheri, President & CEO of U Bank, and Mr. Syed Irfan Ali, Executive Director Financial Inclusion Group at the State Bank of Pakistan, who served as the Chief Guest. Their presence underscored the importance of this milestone for U Bank and the broader banking landscape in Pakistan.
Addressing the gathering, Mr. Mohamed Essa Al Taheri emphasized the momentous nature of the occasion, highlighting U Bank’s commitment to inclusive banking. He stated that the introduction of Islamic Banking Windows signifies the expansion of service horizons, aligning with the national agenda of financial inclusion and bolstering the Islamic banking sector in Pakistan.
Mr. Syed Irfan Ali commended U Bank for its proactive stance in extending Islamic Banking Window outreach, noting its potential to foster economic growth and broaden the scope of Islamic microfinance banking across various regions. He lauded U Bank’s investment in staff training for Islamic Banking services, citing it as a pivotal step towards enhancing accessibility to Shari’ah-compliant financial services.
The inauguration of Islamic Banking Windows reflects U Bank’s dedication to innovation and excellence in banking services. It marks the initial phase of a strategic plan to introduce these services across its expansive network of over 375 branches nationwide. This initiative underscores U Bank’s commitment to advancing Islamic Banking principles and promoting financial inclusion by offering a diverse array of products and services.