Pakistan, Feb. 21 -- Bank of Khyber (BoK) has formally initiated its transition into a full-fledged Islamic bank, the bank shared the development in its notice to the Pakistan Stock Exchange (PSX) on Thursday.
"The bank has initiated the process for conversion from conventional to Islamic bank," BoK said.
The development comes as Islamic banking in Pakistan has seen significant growth over the past two decades, driven by strong demand, regulatory support, and Shariah-compliant financial solutions. The industry has expanded rapidly, with both full-fledged Islamic banks and conventional banks offering Islamic banking windows to cater to a growing customer base.
As per SBP's latest data, assets of the Islamic banking industry rose by Rs192 ...