Karachi, Bank Islami Pakistan Limited informed Pakistan Stock Exchange that the matter reached to a settlement between International Payment Scheme and the Bank. The related financial impact along with its disclosure was made in the financials for the year ended December 31, 2020. The Bank later joined the criminal case conducted by the US Department of Justice against the Subject money Launderer, at Georgie.
Bank Islami Pakistan Limited was incorporated in Pakistan on October 18, 2004 as a public limited company to carry out the business of an Islamic Commercial Bank in accordance with the principles of Islamic Shariah. The State Bank of Pakistan (SBP) granted a ‘Scheduled Islamic Commercial Bank’ license to the Bank on March 18, 2005. The Bank is principally engaged in corporate, commercial, consumer, retail banking and investment activities.
The total numbers of shares are 1,108,703,299. The Earnings per share is 1.54 in 2020 which was 1.06 in 2019. The Profit after Taxation is 1,703,135,000 in 2020 which was 1,087,388,000 in 2019.