BankIslami Launches Pakistan’s First Islamic Gold-Based Financing Facility
BankIslami launches a Shariah-compliant Gold-Based Financing facility in Pakistan.
BankIslami, one of Pakistan’s fastest-growing Islamic banks, has launched what it describes as the country’s first Islamic Gold-Based Financing facility.
The new offering allows customers to access Shariah-compliant financing against their gold assets. Customers can obtain financing of up to PKR 5 million under the facility.
Financing offers flexible repayment options
BankIslami said the facility provides flexible tenures of up to four years.
The initiative aims to expand access to Islamic financial solutions across Pakistan. It also forms part of the bank’s broader retail financing portfolio.
Customers can use the facility to meet their financial needs through a gold-backed structure. BankIslami said the model provides an alternative to conventional interest-based financing.
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Facility based on Musawamah
The financing structure follows the principles of Musawamah, a Shariah-compliant sale mechanism.
According to BankIslami, the structure provides customers with an asset-backed financing solution. The bank said the arrangement keeps the transaction aligned with Islamic banking principles.
With the launch, BankIslami said it has become the first Islamic bank in Pakistan to offer Shariah-compliant financing against gold.
BankIslami focuses on financial inclusion
The bank said the new facility will strengthen its range of retail financing products.
BankIslami also linked the initiative to its focus on financial inclusion and customer-focused innovation. The facility is designed to make Islamic banking solutions more accessible to customers across the country.
Gold-based financing can also provide customers with a structured way to access funds while retaining an Islamic banking framework.
‘Saving Humanity from Riba’
The launch reflects BankIslami’s continued commitment to expanding Shariah-compliant financial solutions.
The bank said the initiative represents another step towards its stated mission of “Saving Humanity from Riba.”
Through the new facility, BankIslami aims to combine asset-backed financing with Islamic banking principles. The offering further adds to the bank’s growing range of retail financial solutions.
