in Karachi Al Baraka Islamic Bank was initially established in Pakistan in 1991 as Al Baraka Islamic Bank (AIB) Bahrain, and later incorporated as a public limited company in December 2004, receiving its Islamic banking license in 2007. In October 2010, Al Baraka Bank (Pakistan) merged with Emirates Global Islamic Bank (Pakistan), with the latter being renamed as Al Baraka Bank (Pakistan) Limited. It was the first merger in the
Islamic Banking sector of
Pakistan. The merger took place between the branch operations of Al Baraka Islamic Bank (AIB) Bahrain, Al Baraka Islamic Bank Pakistan (AIBP) and Emirates Global Islamic Bank (Pakistan), and thus from 1 November 2010, the operations of the merged entity began. The second merger took place in 2016 with
Burj Bank Ltd. As of September 2016, the Bank has a national presence in Pakistan with a network of 191 branches in more than 97 cities across the country. == References ==