Pakistan, March 14 -- Samba Bank Limited, a subsidiary of the Saudi National Bank of the Kingdom of Saudi Arabia, has announced plans to convert from a conventional to an Islamic bank. The bank disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Thursday. "The board of Samba Bank Limited has, in-principle, approved the plan to convert from conventional to Islamic bank," read the notice. In this regard, the bank further informed that the tentative plan of conversion from conventional to Islamic bank will be submitted to the State Bank of Pakistan (SBP). The development comes as Islamic banking in Pakistan has seen significant growth over the past two decades, driven by strong demand, regulatory support, and Sharia...