Complete suite of products and services that are designed to fulfil your financial needs in a truly Shariah-compliant way from the wide network of City Bank branches, sub-branches and ATMs across the country

ISLAMIC BANKING

Islamic Banking is a financial system conducting banking and business activities in line with the provisions and principles of Islamic Shariah, it follows the beliefs and principles of Shariah jurisprudence pertaining to trade and business. The modern Islamic Banking industry emerged only in the 1970s, in large part because of efforts by early 20th century Muslim economists who envisioned alternatives to conventional Western Economics, whose interest-based transactions violate Shariah.

The term “Islamic Banking” is defined as the conduct of banking procedures in coherence with Islamic teachings. The main doctrines of Islamic Banking prohibit the involvement of interest (Riba) in all forms of transactions undertaking business and trade activities. Moreover, Islamic Banking emphasizes on fair and legitimate profit and loss sharing for both the bank and the customers. Lack of speculative transactions minimize the risk of Islamic Banking to a great extent compared to conventional banks. Islamic Banking also emphasizes on ethical investment to ensure a sustainable economic growth worldwide.

INCEPTION OF CITY ISLAMIC

City Bank’s Islamic Banking journey began in 2003, when it started operating through a single Islamic Banking branch.

The devotion towards the Islamic belief and principles of Shariah guides the everyday financial needs of the natives. This ever-growing demand, to have a modern Shariah compliant banking system, has led to the re-launch of City Manarah to City Islamic – a Shariah compliant Islamic Banking service to fulfill the day-to-day banking needs with the help of a diversified range of Shariah compliant Personal and Corporate Banking products and services.

We combine deep Shariah advisory expertise from an independent Shariah Supervisory Committee alongside our dedicated Islamic Banking team to guarantee a delightful banking experience that is fully Shariah compliant for our valued customers.

KEY FEATURES

Shariah Compliant Banking Service

Countrywide Branches and Sub-Branches

Citytouch Digital Banking Facilities

Country’s First American Express Islamic Credit & Debit Cards

Shariah supervisory committee

Every product and service we offer have been carefully designed and endorsed by the Islamic scholars belonging to an independent Shariah Supervisory Committee.

The main responsibility of this committee is to ensure that the Bank's products and processes are being conducted in accordance with Islamic principles. The Bank cannot provide any new banking products or services to customers without the approval of the Shariah Supervisory Committee. The committee oversees whether the Bank's deposits and investments are being made within the boundaries of Shariah principle. The Shariah Supervisory Committee of City Islamic is mix of expert scholars and industry practitioners whose experience and knowledge ensure the adherence of Islamic principles.