April 1, 2006
Emirates Global Islamic Bank Limited (EGIBL), a fully Shariah Compliant Islamic Bank, has become a member of 1 Link (Guarantee) Limiter's Shared ATM Network in Pakistan on March 24, 2006. The bank acquired a license to operate a fully Shariah compliant Islamic Bank in the Islamic Republic of Pakistan in September 2005 and will commence its operations in the second quarter of 2006. It will offer Islamic financial products and services and will have an extensive network of retail branches all across the country. This alliance will be a part of the Bank's ongoing commitment to provide a premium service and will enable the Bank's customers to have access to over 900 online ATMs across the country.
This affiliation with 1 Link reinforces EGIBL's commitment to technology having already partnered with IBM for service solutions, NCR for its ATM Network, CISCO/Juniper for its communication appliances and Auto Soft Dynamics for its Islamic Banking software solutions.
1 Link is the largest shared ATM network in Pakistan, having a presence in over 70 cities. Out of a total of 1,200 online ATMs in Pakistan, 925 are members of 1 Link Network. It also provides a switching solution and connectivity to the Global VISA network to all 1 Link member banks in Pakistan. Additionally they are in the process of providing an Inter Bank Funds Transfer Facility, which will enable all ATM card holders of participating 1 Link member banks to perform instant online fund transfers to any account of a participating 1 Link member bank.
EGIBL was represented by its President & CEO, Syed Tariq Husain and the Head of Information Technology, Mr. Ahmed Saqib Asad. 1 Link was represented by its Chief Executive Mr. Khayyum M. Butt and the Manager Business Development Mr. Asif Durrani.
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© Press Release 2006
