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BANK ALFALAH

BANK ALFALAH

On 21st June, 1992 the Bank Alfalah was launched under the Companies Ordinance in 1984 as a public limited company. On 1st November, it integrated its operations. This bank is owned by Abu Dhabi Group and it is the private bank in Pakistan. In 1962, the bank introduced commercial banking and interrelated services as described by the Banking companies ordinance. As the bank showed remarkable performances in its era, it is considered to be the 6th largest bank of the country and has expanded network of 471 branches. The bank was soon privatized in 1997 and introduced its innovative characteristics of H.C.E.B.

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The management of the bank makes achievable measures to make it a major competitor in the market for that; strong strategy and policies were implemented. After being associated with Abu Dhabi Group they become stronger enough to invest more in technology to enhance its range of services and products. The Shamil Bank of Bahrain which was commenced in Bangladesh was taken over by Bank Alfalah on 16th May, 2005 for US$17.88 million. The Shamil Bank was renamed as Bank Alfalah. It was the initial branch that was launched outside the country. The bank is operating its services through a network of 471 branches nationally. It has a registered office at I.I Chundrigar, Karachi from where it deals internationally with Bahrain, Afghanistan and Bangladesh.

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The bank has launched its branches in the major cities of the country, which includes Lahore, Peshawar, Quetta, Islamabad, Kasur, Chakwal, Rawalpindi, Hyderabad, Gawadar, Faisalabad, Sargodha, Multan, Sukkar, D.I.Khan, Murree, Sheikhupura, Sialkot, Attock District, Gujranwala, Mirpur Khas, D.G.Khan, Pir mahal and Jhelum.

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Bank Alfalah serves more than 1 million corporate, personal, agricultural, personal, small businesses, Islamic and assets financing consumers.       BAFL is ranked at the top of the banks in the country, which is operated by Abu Dhabi Group, has recently joined hands with Union Pay International (UPI) to recognize Union Pay cards in Pakistan, this partnership will eventually strengthens the foreign business link between monetary Institutions in China and Pakistan.

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The bank has also achieved the Centennial Mark for its Islamic Banking Branch Network. At the moment, the bank has the network of 110 Islamic Banking Branches; due to its superlative qualities it is renowned as the second Islamic bank in Pakistan. For the bank, Islamic Banking will remain the top priority. The bank has also been selected as one of the partners for two key G2P projects, which are, Watan Card Programme and the Benazir Income Support Program (BISP).

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