Burj Bank Limited, formerly known as Dawood Islamic Bank Limited (DIBL), is Pakistan's sixth full-fledged Islamic commercial bank. The bank received its license from the State Bank of Pakistan

State Bank of Pakistan

The State Bank of Pakistan is the central bank of Pakistan. While its constitution, as originally laid down in the State Bank of Pakistan Order 1948, remained basically unchanged until January 1, 1974, when the bank was nationalized, the scope of its functions was considerably enlarged...

 in May 2006, and officially commenced its operations on Friday, April 27, 2007.
The Bank was the result of an initiative of the First Dawood Group

First Dawood Group

The First Dawood Group is a major financial institution in Pakistan. It owns First Dawood Investment Bank , Dawood Capital Management , Burj Bank , Guardian Modaraba and BRR International Modaraba ....

, with the Islamic Corporation for the Development of the Private Sector (ICD) in Jeddah, Unicorn Investment Bank in Bahrain, Al Safat Investment Company in Kuwait, Gargash Enterprises (LLC) in Dubai, the Singapore-based entrepreneur Azam Essof Kolia and Shaikh Abdullah Mohammad Al-Romaizan, an entrepreneur from the Kingdom of Saudi Arabia. In July 2011, the bank was renamed Burj Bank Ltd.

The bank has a Shariah Board headed by Prof. Mufti

Mufti

A mufti is a Sunni Islamic scholar who is an interpreter or expounder of Islamic law . In religious administrative terms, a mufti is roughly equivalent to a deacon to a Sunni population...

 Munib-Ur-Rehman as the bank’s Shariah advisor. It currently has 50 online branches.

Burk Bank has a diversified range of Shariah Compliant funded and non-funded products and services aimed at both individual and corporate customers. The bank also offers investment and corporate advisory services.