BankIslami won the Best Campaign Award at the Pakistan Digital Awards 2025

Karachi, 13 June, 2025. BankIslamihas won the Jury Award for Best Campaign at the Pakistan Digital Awards (PDA). This was awarded in recognition of the Bank's purpose-led campaign, Saving Humanity from Riba, which stood out for its bold messaging and strategic commitment to promoting Riba-free banking in Pakistan.
The 360-degree campaign championed accessibility and inclusivity in Islamic finance, reinforcing BankIslami's commitment to ethical financial practices rooted in faith and integrity. Spanning digital and conventional media platforms, the campaign raised awareness about the core benefits of Islamic banking and invited individuals of all faiths to be part of a system that promotes financial justice for all.
'What may appear as just another marketing campaign to others was the beginning of a movement for BankIslami. Saving Humanity from Riba is not just a slogan, it is a reflection of our mission and a commitment we live by every day,' said Hasan Saeed Akbar, Head of Marketing and Strategy at BankIslami. 'Our ambition was to promote ethical finance across Pakistan and move closer to a system free from the injustice of riba,' he added.
Copyright Business Recorder, 2025

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Express Tribune

10 hours ago

• Express Tribune

Rs1.275tr loans signed to ease circular debt

Pakistan has signed term sheets with 18 commercial banks for a Rs1.275 trillion ($4.50 billion) Islamic finance facility to help pay down mounting debt in its power sector, government officials said on Friday. The government, which owns or controls much of the power infrastructure, is grappling with ballooning "circular debt", unpaid bills and subsidies, that has choked the sector and weighed on the economy. The liquidity crunch has disrupted supply, discouraged investment and added to fiscal pressure, making it a key focus under Pakistan's $7 billion IMF programme. Finding funds to plug the gap has been a persistent challenge, with limited fiscal space and high-cost legacy debt making resolution efforts more difficult. "Eighteen commercial banks will provide the loans through Islamic financing," Khurram Schehzad, adviser to the finance minister, told Reuters. The facility, structured under Islamic principles, is secured at a concessional rate of 3-month KIBOR, the benchmark rate banks use to price loans, minus 0.9%, a formula agreed on by the IMF. "It will be repaid in 24 quarterly instalments over six years," and will not add to public debt, Power Minister Awais Leghari said. Existing liabilities carry higher costs, including late payment surcharges on Independent Power Producers of up to KIBOR plus 4.5%, and older loans ranging slightly above benchmark rates. Meezan Bank, HBL, National Bank of Pakistan and UBL were among the banks participating in the deal. The government expects to allocate Rs323 billion annually to repay the loan, capped at 1.938 trillion rupees over six years. The agreement also aligns with Pakistan's target of eliminating interest-based banking by 2028, with Islamic finance now comprising about a quarter of total banking assets.

Express Tribune

18 hours ago

• Express Tribune

Govt secures Rs1.275tr to address power sector debt

Listen to article The government has signed term sheets with 18 commercial banks for a Rs1.275 trillion ($4.5 billion) Islamic finance facility to help pay down mounting debt in its power sector, government officials said on Friday. The government, which owns or controls much of the power infrastructure, is grappling with ballooning "circular debt"—unpaid bills and subsidies—that has choked the sector and weighed on the economy. The liquidity crunch has disrupted supply, discouraged investment, and added to fiscal pressure, making it a key focus under Pakistan's $7 billion IMF programme. Finding funds to plug the gap has been a persistent challenge, with limited fiscal space and high-cost legacy debt making resolution efforts more difficult. Read More: Pakistan signs '$1b' loan facility "Eighteen commercial banks will provide the loans through Islamic financing," Khurram Schehzad, adviser to the finance minister, told Reuters. The facility, structured under Islamic principles, is secured at a concessional rate of 3-month KIBOR (the benchmark rate banks use to price loans) minus 0.9%, a formula agreed on by the IMF. "It will be repaid in 24 quarterly instalments over six years," and will not add to public debt, Power Minister Awais Leghari said. Existing liabilities carry higher costs, including late payment surcharges on Independent Power Producers of up to KIBOR plus 4.5%, and older loans ranging slightly above benchmark rates. Also Read: Banking sector expands 15.8% in 2024 Meezan Bank, HBL, National Bank of Pakistan, and UBL were among the banks participating in the deal. The government expects to allocate Rs323 billion annually to repay the loan, capped at Rs1.938 trillion over six years. The agreement also aligns with Pakistan's target of eliminating interest-based banking by 2028, with Islamic finance now comprising about a quarter of total banking assets.

Business Recorder

19 hours ago

• Business Recorder

Pakistan signs $4.5bn loans with local banks to ease power sector debt

KARACHI: Pakistan has signed term sheets with 18 commercial banks for a 1.275 trillion Pakistani rupee ($4.50 billion) Islamic finance facility to help pay down mounting debt in its power sector, government officials said on Friday. The government, which owns or controls much of the power infrastructure, is grappling with ballooning 'circular debt', unpaid bills and subsidies, that has choked the sector and weighed on the economy. The liquidity crunch has disrupted supply, discouraged investment and added to fiscal pressure, making it a key focus under Pakistan's $7 billion IMF programme. Finding funds to plug the gap has been a persistent challenge, with limited fiscal space and high-cost legacy debt making resolution efforts more difficult. 'Eighteen commercial banks will provide the loans through Islamic financing,' Khurram Schehzad, adviser to the finance minister, told Reuters. Power sector circular debt plan okayed by Cabinet The facility, structured under Islamic principles, is secured at a concessional rate of 3-month KIBOR, the benchmark rate banks use to price loans, minus 0.9%, a formula agreed on by the IMF. 'It will be repaid in 24 quarterly instalments over six years,' and will not add to public debt, Power Minister Awais Leghari said. Existing liabilities carry higher costs, including late payment surcharges on Independent Power Producers of up to KIBOR plus 4.5%, and older loans ranging slightly above benchmark rates. Meezan Bank, HBL, National Bank of Pakistan and UBL were among the banks participating in the deal. The government expects to allocate 323 billion rupees annually to repay the loan, capped at 1.938 trillion rupees over six years. The agreement also aligns with Pakistan's target of eliminating interest-based banking by 2028, with Islamic finance now comprising about a quarter of total banking assets.