Bank Alfalah receives prestigious global recognition at the GIFA 2024

Bank Alfalah, a leading commercial bank in Pakistan, has earned international acclaim by winning two awards at the 2024 Global Islamic Finance Awards (GIFA), highlighting its position as a leader in the Islamic banking sector.

The Bank received accolades for its contributions to Islamic banking, including the Islamic Banker of the Year 2024 award and the Best Islamic Banking Window Operations Award 2024 under the GIFA Market Leadership Awards category.

Bank Alfalah Islamic, founded in 2003, has expanded to over 375 branches nationwide. Offering a full range of Shariah-compliant Islamic banking solutions for corporate, commercial, SME, retail, treasury, trade, and consumer banking customers, Bank Alfalah Islamic is geared towards providing one-stop innovative and convenient financial solutions.

The title of Islamic Banker of the Year 2024 was awarded to Dr. Muhammad Imran, Group Head of Islamic Banking. Historically awarded to full-fledged Islamic banks, this recognition of the Bank’s leadership in Islamic banking is a significant achievement. This honour reflects Dr. Imran’s visionary leadership and the bank’s innovative contributions to the Islamic banking industry, setting it apart from its peers.

Additionally, Bank Alfalah won the Best Islamic Banking Window Operations Award 2024, further affirming its excellence in Islamic banking operations. Bank Alfalah is the first Islamic Banking Window in Pakistan to receive this recognition, highlighting the bank’s leading role in the market. The award recognises the bank’s commitment to innovation, customer-centric service, and strict adherence to Shari’ah principles, which continue to drive its local and global success.

Speaking on the occasion, Dr. Muhammad Imran, Group Head – Islamic Banking at Bank Alfalah, expressed his gratitude for the recognition: “These awards are the testament to the collective efforts of our team at Bank Alfalah Islamic. We have always aimed to elevate the standards of Islamic banking in Pakistan and globally by adhering to the highest Shari’ah standards and offering customer-centric solutions. This is an honour and a reflection of the hard work we have put into transforming Islamic banking into an impactful financial service.”

With these recognitions, Bank Alfalah solidifies its leadership in the Islamic banking sector, reaffirming its mission to promote sustainable and Shari’ah-compliant financial solutions for individuals and businesses alike. As the bank looks to the future, it remains dedicated to driving innovation, financial inclusion, and excellence in Islamic banking in Pakistan and globally.

Mazhar Ali Raza

Mazhar Ali Raza is a senior journalist from Karachi. He has served more than twenty years in journalism. He was recently associated with the dunya media group as a senior business reporter from the last eleven years . Prior to that he has worked for CNBC for the period of four years. His major beats were the energy auto banking and agriculture sector . He has covered many seminars and exhibitions in Pakistan and abroad as well .