Faysal Bank
Headquarters of Faysal Bank on Shahrah-e-Faisal in Karachi | |
Native name | فیصل بینک |
|---|---|
| Formerly | Al-Faysal Investment Bank |
| Company type | Public |
| PSX: FABL KSE 100 component | |
| Industry | Islamic banking |
| Founded | October 1987 |
| Headquarters | Karachi, Pakistan |
Key people | |
| Products | Islamic banking, loans, consumer banking, business banking, priority banking, credit cards, debit cards, savings |
| Revenue | Rs. 83.142 billion (US$290 million) (2023) |
| Rs. 41.422 billion (US$140 million) (2023) | |
| Rs. 20.046 billion (US$69 million) (2023) | |
| Total assets | Rs. 1.370 trillion (US$4.7 billion) (2023) |
| Total equity | Rs. 90.198 billion (US$310 million) (2023) |
| Owner | Ithmaar Bank (66.78%) |
Number of employees | 8,789 (2024) |
| Parent | Ithmaar Bank |
| Subsidiaries | Faysal Asset Management Faysal Islami Currency Exchange |
| Website | faysalbank |
| Footnotes / references Financials as of 31 December 2023 | |
Faysal Bank Limited (Urdu pronunciation: [ˈfɛj.səl bɛŋk] FAY-sul-BANK) is a Pakistani Islamic bank based in Karachi. Founded as Al-Faysal Investment Bank in 1995, it became an Islamic bank in 2023. It is named after Mohammed bin Faisal Al Saud.
Over the years, Faysal Bank has been involved in multiple controversies. In the mid-2000s, the bank was embroiled in issues related to its capital markets operations, particularly involving its head of investment banking, Ajaz Rahim. Rahim was charged with insider trading by authorities in New York. In July 2020, it was fined Rs 96.1 million for violations in CDD, foreign exchange, KYC, and operations asset quality. More recently, in October 2022, the State Bank of Pakistan imposed a fine of Rs 10.025 million on Faysal Bank for violations related to regulatory and operational standards.