Karachi: Bank Islami Limited has announced the passing of Dr. Shamshad Akhtar, an Independent Director on its Board of Directors, who died on Saturday, December 27, 2025.

The announcement, dated December 29, 2025, expressed condolences to Dr. Akhtar’s family and acknowledged her professionalism and leadership, which made significant contributions to the institution. The statement noted the bank’s commitment to filling the vacancy on the Board in accordance with regulatory requirements.

According to information available from the Pakistan Stock Exchange (PSX), the demise of Dr. Akhtar, who was respected for her ethical leadership, leaves a notable vacancy on the Board. The bank extended its prayers for her family’s strength during this period.

Bank Islami Limited operates within the designated market category of financial services, which includes the provision of Shariah-compliant banking solutions. The bank’s communication emphasized its intention to inform the certificate holders of the exchange about this development.