Faysal Islami Exchange Company launches operations in 10 cities

By Our Correspondent
June 14, 2024
The Faysal Islami Currency Exchange Company (FICEC) being inaugurated on June 13, 2024. — Photo by reporter

KARACHI: Faysal Islami Currency Exchange Company (FICEC), a wholly owned subsidiary of Faysal Bank Ltd (FBL) officially commenced operations in ten cities, a statement said on Thursday.


The bank said that this “marks a significant development for Pakistan’s financial sector.” The wholly owned exchange company was established with an initial paid-up capital of Rs1 billion.President & CEO of FBL Yousaf Hussain said, “The establishment of the FICEC is a testament to our unwavering commitment to excellence and reinforces our position as the best and fastest growing Islamic bank in Pakistan. We acknowledge the support of the State Bank in this regard.”

He further added, “It is our privilege to bring convenient, efficient foreign currency exchange services to our customers, contributing to the facilitation of cross-border transactions and enhancing economic activities. At the FICEC, we are dedicated to providing exceptional customer service, ensuring a seamless and personalized experience for every client, every time.”