Faysal Bank has received the Best ROC Member Award from the State Bank of Pakistan, presented through its Financial Inclusion Support Department in recognition of the bank’s contribution to Islamic banking awareness and financial inclusion initiatives.
According to the bank, the award reflects its participation in a series of SBP led initiatives focused on expanding public understanding of Islamic banking principles and extending access to Shariah compliant financial services across the country. Faysal Bank specifically acknowledged Shaikh Sufyan, Manager of Shariah Support and Services, for his role in delivering engaging Islamic banking sessions that the bank credited as a key factor behind this recognition. The award appears to stem from work carried out under SBP’s broader Financial Inclusion Support Department framework, which coordinates efforts among banks to promote financial literacy and inclusion, with a specific focus in this instance on the Islamic banking segment of the industry.
In its statement, Faysal Bank described the recognition as a reflection of its ongoing commitment to what it called a more resilient and better informed Islamic banking ecosystem in Pakistan, positioning the award as validation of efforts the bank has been making on this front over an extended period rather than a one time achievement. The bank did not disclose additional details about the criteria used to select the Best ROC Member Award recipient or how many other banks were considered alongside it, though the framing of the announcement suggests the recognition carries weight within the SBP’s ongoing programs aimed at coordinating Islamic banking outreach across the sector.
The award adds to a broader push within Pakistan’s banking sector to expand Islamic finance offerings and improve financial inclusion, an area where the State Bank has increasingly encouraged banks to play an active role through structured programs and periodic recognition of participating institutions. For Faysal Bank, which has built a significant portion of its business around Islamic banking products, the award serves as public acknowledgment of its continued engagement with SBP’s financial inclusion agenda, and the bank indicated it intends to continue its involvement in similar initiatives going forward as part of its broader role in shaping the future of Islamic banking in Pakistan.
Follow the SPIN IDG WhatsApp Channel for updates across the Smart Pakistan Insights Network covering all of Pakistan’s technology ecosystem.
