Islamabad  -  U Microfinance Bank (U Bank) has been honoured as the Best Microfinance Bank for Islamic Retail Banking Offerings in Pakistan 2024 at the 10th Islamic Retail Banking Awards (IRBA) hosted by Cambridge IFA. The award was received by Mr Asim Anwar, Chief Business and Digital Officer at U Bank. The ceremony, held in Dubai, recognised U Bank’s trailblazing efforts and significant contributions to promoting Shari’ah-compliant financial services in Pakistan.

U Bank has established itself as a pioneer in the microfinance industry by introducing Islamic banking services at an extensive scale in Pakistan. Since the launch of its Islamic banking services in 2022, the bank has expanded its network from just five branches to a growing ecosystem of Islamic banking windows and branches, offering a comprehensive suite of Shari’ah-compliant financial products and services. This rapid growth has culminated in the achievement of a Rs6 billion+ Gross Financing Portfolio (GFP) for Islamic Banking—a remarkable milestone within just two years.