Pakistan’s BankIslami launches fully digital Shariah-compliant banking platform ‘Aik’
BankIslami Pakistan has introduced what it says is the country’s first fully digital Islamic banking platform, aiming to expand nationwide access to Shariah-compliant financial services as customer demand for mobile banking accelerates.
The platform — called Aik — was announced on Wednesday in a statement by the bank, which said the rollout marks a major step in its digital transformation strategy. BankIslami was the first Islamic bank to be licensed under Pakistan’s 2003 Islamic Banking Policy and began operations in 2006.
“This platform fulfills a critical need in Pakistan’s banking landscape for a fully digital solution that aligns with Islamic principles without compromising convenience and accessibility,” said Ashfaque Ahmad, the project lead. He added that Aik, meaning “one,” reflects the bank’s vision of a unified, Riba-free financial ecosystem.
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Muhammad Ali Bandial