Latest news with #FaysalBank
Business Recorder
24-07-2025
- Business
- Business Recorder
FBL and Fauree launch Islamic digital supply chain platform
KARACHI: Faysal Bank Limited (FBL), one of Pakistan's leading Islamic banks, has taken a groundbreaking step toward digital transformation in Islamic finance. In collaboration with fintech innovator Fauree, FBL has signed a Memorandum of Understanding (MoU) to develop and deploy a comprehensive Islamic Digital Supply Chain Finance (SCF) and Agri-Digitization ecosystem. The MoU was signed by Altaf Hussain Saqib, Head of Commercial Banking Small Business Enterprise (CBSME), Fleet & Agri, Faysal Bank Ltd., and Azhar Tasadduq, Co-Founder and CEO, Fauree. Commenting on the development, Yousaf Hussain, President & CEO, Faysal Bank said, 'As pioneers in Agri-Digitization within Pakistan's Islamic banking sector, this partnership reinforces our commitment to expand and enhance predictive, paperless Islamic financing solutions across Pakistan. With best-in-class technology embedded into our CBSME & Agri verticals, we are poised to offer innovative, real-time financing for crops, livestock, and supply chains, in line with Shariah principles.' Speaking on the occasion, Azhar Tasadduq, Co-Founder and CEO of Fauree, commented, 'This collaboration is a remarkable step forward in Pakistan's agricultural economics. The integration of an advanced digital platform with Faysal Bank's Islamic finance expertise is poised to establish Pakistan's first Shariah-compliant digital SCF ecosystem. By integrating a multi-product approach, we aim to digitize entire Agri-value chains and SME supply networks, from farm-level financing to working capital support for exporters.' Copyright Business Recorder, 2025
Finextra
15-07-2025
- Business
- Finextra
Faysal Bank and Smart1-Tech team on digital payments in Pakistan
Faysal Bank Limited (FBL), one of Pakistan's leading Islamic banks, has partnered with Smart1-Tech (Pvt.) Ltd., a fast-growing Fintech company focused on digital payments and acceptance solutions. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. This partnership aims to expand secure, cashless payment options for Micro, Small, and Medium Enterprises (MSMEs). This collaboration underscores FBL's commitment to financial inclusion through Fintech partnerships, especially for MSMEs where digital finance continues to play a vital role in Pakistan's economic growth. The signing ceremony held at Faysal Bank's Head Office, was attended by senior leaders from both organizations. Amin ur Rahman, Chief Digital Officer, Faysal Bank, stated; 'Our partnership with Smart1-Tech is another step towards expanding the payments ecosystem in Pakistan. At Faysal Bank, we believe in growth through collaboration and this partnership compliments our growth strategy in the digital ecosystem.' Mr. Ali Ahmed, CEO, Smart1-Tech, emphasized the importance of collaboration in transforming the financial landscape: 'We are privileged to formalise our partnership with Faysal Bank. This agreement is a significant step towards enhancing Pakistan's digital acceptance services, and we are confident that this collaboration will drive the much-needed progress by acting as growth enablers.' Another key area of focus through this partnership will be the proliferation of Raast P2M QR-based payment solutions for small retailers. supporting the shift towards a more connected and cashless economy.
Business Recorder
26-06-2025
- Business
- Business Recorder
FBL honoured for championing disability-inclusive banking
KARACHI: Faysal Bank Limited (FBL), one of Pakistan's leading Islamic banks, has been recognised for its commitment to inclusion and accessibility at the Pakistan PWDs Finclusion Awards 2025. The Bank received the award for 'Most Disability-Friendly Branch Network' and was also named Runner-Up for 'Excellence in Employment of Persons with Disabilities (PWDs).' The awards ceremony, held in Karachi, was organised by Determined Pakistan and was inspired by the State Bank of Pakistan's (SBP) Policy on Financial Inclusion of Persons with Disabilities. These awards reflect Faysal Bank's steadfast commitment to Diversity, Equity, and Inclusion (DE&I) and its purpose-driven approach to banking. Commenting on the recognition, Yousaf Hussain, President & CEO of Faysal Bank, stated: 'At Faysal Bank, we believe that meaningful growth is only possible when it is inclusive, accessible and rooted in compassion. Our vision is to build a banking system that reflects the diversity of our nation and leaves no one behind. These recognitions reaffirm our commitment to embedding equity into our service, our spaces, and our culture.' Copyright Business Recorder, 2025
Business Recorder
25-04-2025
- Business
- Business Recorder
Faysal Bank unveils financial results for Q1 2025
KARACHI: Faysal Bank Limited (FBL) demonstrated resilient financial performance and on a standalone basis, reported a Profit Before Tax (PBT) of PKR 11.1 billion and net profit stood at PKR 5.1 billion in the first quarter of this calendar year (CY25).Impacted by reduction in policy rate and increase in the tax rate from 49% to 53%, earnings per share decreased from PKR 4.29/- to PKR 3.39/. The Bank declared an interim cash dividend of Rs 1.5/- per share, i.e. 15%. FBL's total assets were at PKR 1.6 trillion, deposits at PKR 1.1 trillion, and net financing at PKR 643 billion+. The Bank has a healthy Advance to Deposit (ADR) ratio of 57.8% and Capital Adequacy Ratio (CAR) stood at a solid 16.6%, comfortably exceeding regulatory requirement. The Bank's financial performance underscores its solid business fundamentals, prudent risk management practices, and focus on innovation. These further cement FBL's position as a key player in the industry, dedicated to delivering sustainable growth and value to stakeholders. Mian Muhammad Younis, Chairman of Faysal Bank, reflecting on the Bank's Q1 2025 performance, said, 'Alhamdulillah, the results of the first quarter of 2025 underscore the enduring strength and stability of our Islamic banking foundation. They are a direct outcome of the clear strategic vision of our Board and the dedication of our management. We remain grateful to our valued customers for their continued trust and for choosing Faysal Bank as their preferred Islamic banking partner.' Yousaf Hussain, President & CEO of Faysal Bank, added, 'The positive momentum we have brought into 2025 is a strong reflection of the resilience and depth of our purpose-driven Islamic banking model. By the Grace of Almighty Allah, our continued emphasis on delivering innovative, Shariah-compliant solutions, complemented by trusted customer relationships, and service excellence remains central to our success. With a solid foundation, we are well-positioned to accelerate our growth through ongoing investment in our network, digital capabilities, and human capital.' Copyright Business Recorder, 2025
