BankIslami has launched Pakistan’s first Shariah-compliant Gold-Based Financing facility, allowing customers to get financing against their gold assets.
Under this new facility, customers can receive financing of up to PKR 5 million with a flexible repayment period of up to four years.
The facility is based on Musawamah, an Islamic sale method that keeps the financing in line with Shariah principles. It provides customers with an asset-backed and Riba-free financing option to meet their financial needs.
With this launch, BankIslami becomes the first Islamic bank in Pakistan to offer Shariah-compliant financing against gold.
The new service also supports BankIslami’s goal of making Islamic banking more accessible, promoting financial inclusion, and introducing convenient financial solutions for customers across Pakistan.
The initiative is part of the bank’s continued commitment to its mission of “Saving Humanity from Riba.”