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HBL launches Konnect Islamic Account

by Pakistan Latest News Update

KARACHI – Konnect by HBL has launched Pakistan’s solely Branchless Banking Islamic Account, Konnect Islamic Account.

This shariah-compliant account follows Konnect’s promise of ease and comfort and will be opened through the use of a CNIC and cellular quantity. Konnect Islamic Account presents all Branchless Banking transactions/providers reminiscent of Fund Transfers, Invoice Funds, Company Funds and far more. A Konnect Islamic Account holder may also apply for Islamic Debit Card to entry nationwide ATMs for money withdrawal and POS transactions.

Konnect’s 45,000 + brokers are geared up to open Konnect Islamic accounts. They supply an unprecedented comfort to open a completely shariah-compliant account, particularly to those that beforehand might solely be banked by way of restricted Islamic financial institution branches. The Konnect brokers may also be aiding those that are unable to open their accounts by way of the Konnect App and even those that don’t personal a smartphone. 

The goal is to reshape individuals’s lives with Islamic monetary inclusion to allow them to dwell in accordance with Islamic values. 

Commenting on this event, Abrar Ahmed Mir, Chief Innovation & Monetary Inclusion Officer – HBL, mentioned, “HBL Konnect is already catering to a massive unbanked population of Pakistan. As much of Pakistan remains unbanked, HBL always seeks to address this gap. Our Branchless Banking Channels have played a key role in addressing this issue in line with our focus to become more customer-centric. We understand the need for shariah-compliant services is growing fast and we believe this service will help enhance inclusion.”

Commenting on this event, Shahzad Babar, Head Retail Banking Islamic – HBL, mentioned, “We invest in Islamic modes of financing such as ijarah, modaraba and offer riba-free products to better serve the Islamic Banking needs of our customers. All the Islamic products offered by HBL are approved by the Bank’s Shariah Board.”

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