BankIslami, one of Pakistan’s fastest-growing Islamic banks, has launched the country’s first Islamic Gold-Based Financing facility, enabling customers to access Shariah-compliant financing against their gold assets.
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The offering is in line with BankIslami’s commitment to expanding access to Islamic financial solutions and enables the Bank’s customers to avail financing of up to PKR 5 million, with flexible tenures of up to four years.
This Gold-Based Financing structure is built on the principles of Musawamah, a Shariah-compliant sale mechanism that provides customers with an asset-backed financing solution, keeping the transaction in line with Islamic banking principles.
With this launch, BankIslami becomes the first Islamic bank in Pakistan to offer Shariah-compliant financing against gold, providing customers with a Riba-free avenue to meet their financial needs through a secure and innovative solution.
Also Read: BankIslami Launches Shariah-Compliant Agri Vehicle Finance to Strengthen Pakistan’s Agricultural Supply Chain
The launch further strengthens BankIslami’s growing portfolio of retail financing solutions and reinforces its focus on financial inclusion, customer-centric innovation and making Islamic banking more accessible across Pakistan.
This initiative represents another step in the Bank’s continued commitment to Saving Humanity from Riba.
Earlier to this, aik by BankIslami launched aik Connect, the country’s first Shariah-compliant Open Banking and Banking-as-a-Service gateway.
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The platform does away with the old way of onboarding partners, which typically meant weeks of back-and-forth between legal, business and technical teams. Now it happens through one self-serve digital flow.
Here’s how it works in practice: a fintech, merchant or aggregator signs up on the portal, fills in their company details, signs their NDA digitally right there in the same session, and gets scoped API access once approved. No email chains.
No waiting on someone in a back office to provision access manually. Once they’re in, partners have a full catalogue of Shariah-compliant APIs to build with, covering digital account opening, QR payments, fund transfers, instant Raast transfers, bill payments, and balance and transaction inquiries.
