Business Desk 
Dec 02, 2024
Similar to the grant of a prestigious award to Mobilink Bank, U Microfinance Bank (U Bank) won the "Best Microfinance Bank for Islamic Retail Banking Offerings in Pakistan 2024" at the 10th Islamic Retail Banking Awards (IRBA) hosted by Cambridge IFA.
U Bank chief business and digital officer Mr Asim Anwar received the award in Dubai, with the event commending U Bank’s commitment and contributions to promoting Shari’ah-compliant banking in Pakistan.
The bank has proven to be a leading force in the microfinance industry by introducing Islamic banking services at a broader scale in the country.
Having entered the Islamic banking scene in 2022 with just five branches, U Bank has successfully widened its network to a huge landscape of Islamic banking windows and branches, for offering comprehensive Shari’ah-compliant financial products and services.
“We are deeply honoured to receive this recognition from the Islamic Retail Banking Awards 2024. This accolade is a testament to our unwavering commitment to delivering innovative and inclusive Islamic financial solutions that empower individuals and contribute to a riba-free economy in Pakistan,” said U Bank president & CEO Mr Mohamed Essa Al Taheri.
Within a short span of just two years, the bank achieved a PKR 6 billion+ Gross Financing Portfolio (GFP) for Islamic Banking with the growth of its Islamic financial services.
