BankIslami has been recognized as Pakistan’s Best Islamic Digital Bank by Euromoney, a global benchmark for excellence in financial services the bank’s second consecutive year receiving Euromoney recognition, following its prior win as Pakistan’s Best Islamic Bank. The award centers on a year of concrete technology investment: a core banking system upgrade, expanded AI-powered internal operations, and the launch of Pakistan’s first fully digital Islamic banking platform.
Key Takeaways:
- Award: Pakistan’s Best Islamic Digital Bank, Euromoney
- Consecutive recognition: Second straight year of Euromoney recognition for BankIslami (previously named Best Islamic Bank in Pakistan)
- Core banking upgrade: Migrated to iMAL R-14, a centralized, API-enabled banking platform, in early 2025
- Digital-first interactions: More than 70% of customer interactions now handled digitally
- Flagship launch: “aik” Pakistan’s first fully digital Islamic banking platform
- AI deployment: Expanded across internal functions to digitize workflows and communications
- 2025 financial performance: Profit Before Tax of Rs13.9 billion for the year ended December 31, 2025
What Euromoney Recognized
Euromoney’s award highlights BankIslami’s sustained push toward technology-led growth rather than a single product launch. The recognition specifically points to three pillars of the bank’s 2025 transformation: a rebuilt core banking infrastructure, deeper use of artificial intelligence in internal operations, and the introduction of a dedicated fully digital banking platform built for Shariah-conscious, digitally native customers.
This marks BankIslami’s second straight year on Euromoney’s list a continuation from its prior award as Pakistan’s Best Islamic Bank, suggesting the bank’s digital investments have translated into a sustained, recognized position in the market rather than a one-time recognition.
The Technology Behind the Award
A rebuilt core banking foundation. In early 2025, BankIslami upgraded its core banking infrastructure to iMAL R-14, migrating to a centralized, API-enabled platform. That shift is what made the bank’s broader digital push possible enabling more than 70% of customer interactions to be digital-first, according to the bank.
The launch of aik. The year’s defining milestone was the launch of aik, described as Pakistan’s first fully digital Islamic banking platform. Built as a mobile-first experience for digitally savvy, Shariah-conscious users, aik reflects BankIslami’s stated ambition to lead the digital transformation of Islamic finance in Pakistan.
AI across internal operations. Beyond customer-facing products, BankIslami expanded artificial intelligence deployment across internal functions, digitizing a significant share of internal workflows and communications to improve operational efficiency.
What BankIslami’s Leadership Said
BankIslami’s President & CEO, Rizwan Ata, tied the recognition directly to customer commitment, describing the bank’s digital transformation as rooted entirely in a promise to make Islamic banking as seamless and accessible as possible for customers.
Deputy CEO Imran H. Shaikh framed the achievement in terms of Islamic banking’s broader mission in Pakistan describing digital investment as central to ensuring Shariah-compliant banking reaches the widest possible segment of the population, not just a matter of competitive positioning.
Why This Award Matters
- It signals Islamic banking is competing directly on digital capability, not just Shariah compliance. For years, Islamic banks in Pakistan differentiated primarily on religious compliance; this award reflects a shift toward digital experience and technology infrastructure as an equally important competitive axis.
- It follows a clear, back-to-back pattern. Winning as Best Islamic Bank one year and Best Islamic Digital Bank the next suggests a deliberate, sustained transformation strategy rather than an isolated marketing win.
- It arrives alongside broader Islamic banking sector momentum in Pakistan. BankIslami’s recognition lands in the same period as other major Islamic finance milestones in the country including Meezan Bank’s record market valuation reinforcing that Pakistan’s Islamic banking sector broadly is scaling both size and technological sophistication at the same time.
- It’s backed by measurable financial performance, not just an award. BankIslami reported a Profit Before Tax of Rs13.9 billion for 2025, alongside a cash dividend payout giving the digital transformation narrative a financial performance backdrop rather than existing purely as a technology story.
Benefits of BankIslami’s Digital Transformation
- Greater accessibility to Shariah-compliant banking, particularly for digitally savvy customers who may otherwise default to conventional banking apps for convenience
- Reduced operational friction through API-enabled core banking infrastructure, supporting faster product development and integration with digital services
- Improved internal efficiency through AI-powered workflows, freeing staff capacity for higher-value customer service functions
- A dedicated digital-first product (aik) purpose-built for a customer segment digitally native, Shariah-conscious users that earlier banking platforms weren’t specifically designed to serve
- Sector-wide positioning benefits, as BankIslami’s recognition reinforces Pakistan’s broader profile as a growing hub for Islamic finance innovation, alongside institutions like Meezan Bank
Frequently Asked Questions
What award did BankIslami win?
Euromoney named BankIslami Pakistan’s Best Islamic Digital Bank, recognizing its digital innovation and Shariah-compliant financial services.
Has BankIslami won a Euromoney award before?
Yes. This is BankIslami’s second consecutive year of Euromoney recognition, following its prior award as Pakistan’s Best Islamic Bank.
What is “aik”? Aik is Pakistan’s first fully digital Islamic banking platform, launched by BankIslami in 2025, designed as a mobile-first experience for digitally savvy, Shariah-conscious customers.
What core banking upgrade did BankIslami make?
In early 2025, the bank migrated to iMAL R-14, a centralized, API-enabled core banking platform, enabling more than 70% of customer interactions to become digital-first.
How is AI used at BankIslami?
The bank expanded AI deployment across internal functions, digitizing a significant share of internal workflows and communications to improve efficiency.
How did BankIslami perform financially in 2025?
The bank reported a Profit Before Tax of Rs13.9 billion for the year ended December 31, 2025, along with a cash dividend payout to shareholders.
