Summit Bank has introduced its Riba-free banking services with the aim to convert the whole bank into a full-fledged Islamic bank. Summit Bank is also pleased to announce that the Bank has established its Shariah Board consisting of eminent Shariah scholars to provide its customers with Shariah compliant products and services to fulfill their financial needs and to supervise the Bank’s transitional phase of conversion.
Currently, Summit Bank is offering the following Shariah compliant products and services to serve corporate, commercial and SME entities, and individual consumers. Summit Bank provides globally recognized modes of Shariah compliant solutions such as:
| DEPOSIT PRODUCTS | FINANCING PRODUCTS & SERVICES |
| Current Account | Murabaha (Purchase of Asset/Raw Material) |
| Business Account | Ijarah (Leasing) |
| Daily Savings Account | Diminishing Musharka (for CAPEX) |
| Islamic Savings Certificate | Istisna (Manufacturing) |
| Hamara Family Savings | Salam (Homogenous Asset) |
| Young Bee Account | Tijarah (Finished Goods) |
| Summit Senior Citizen Account | Trade Finance (LC & Contract) |
| Summit Classic Account | Personal Finance |
| Current & Mega Saving(Asaan) | Guarantee |
For more information about Summit Bank’s Islamic banking facilities and to avail their benefits, contact your nearest Islamic banking branch or call our Contact Center.