AXIS MARKETING OF ISLAMIC BANKING PRODUCTS 147

Strategic Comparison between Dubai

Islamic Bank Ltd. & Bankislami Ltd.

This comparison is based upon the differences and assessment factors given below:

Factors DBI BIL

1. Origin/ incorporated in U.A.E. in 1975 Pakistan in 2003
which country?
2. Experience in Islamic 32 years 2 years from April 7th,
banking 2006
3. Scope of operations Multinational National only in Pakistan
across globe
4. No. of branches (figures 10 branches 11 branches in Karachi
are of Feb 2007) and Quetta. In 2007,
BankIslami plans to open
a total of 18 new
branches and would be
expanding its network to
other cities of Pakistan
including Islamabad,
Lahore, Faisalabad,
Peshawar and Multan.
5. Branch network
a. Karachi 7 10
b. Lahore 2 1
c. Peshawar 0 0
d. Faisalabad 0 0
e. Multan 0 0
f. Rawalpindi 1 0
g. Hyderabad 0 0
6. Vision “To be the leading “The Vision of
provider of innovative BankIslami is to be
financial services in recognized as the leading
accordance with the authentic Islamic Bank”.
legislation of Allah”.
7. Islamic Current account Yes available Yes available
8. Islamic Savings account Yes available Yes available as Islamic
Bachat account
9. Islamic Fixed/term Investment account is Term deposit account is

CHAPTER 04- Islamic Banking in Pakistan

AXIS MARKETING OF ISLAMIC BANKING PRODUCTS
deposit
10. Islamic credit/debit
cards
11. Lockers
12. e-banking facility
13. International trade
14. Corporate banking
15. Wealth/cash/asset
management
16. Car/automobile
financing
17. Other services
18. Marketing competitors
19. Target market
CHAPTER 04- Islamic Banking in Pakistan
148
available also available
Yes available and first
one to introduce them
successfully in Pakistan.
Yes facility is available Yes facility is available
Internet banking & phone Internet banking &
banking is available phone banking is
available
Different variety of trade Trade financing is
financing modes are available but domestic
available. and international
Under the title of Available for financing
corporate banking, a lot businesses
of options are available.
A lot of options available Major focus is over
including wealth, asset, wealth and asset
treasury management. management
Available as Al Islami Available under
Flexi Drive which is autoijarah
based on the Residual
Value (RV) principle.
Johra banking for women 1. Biometric ATM
exclusively services
The U.S. Commercial 2. Round the clock self
Properties Portfolio Fund service banking
Real estate finance 3. 24/7 Phone Banking
(while most of its at 111-ISLAMI
products/services will be
introduced soon in
Pakistan, as these
services are for UAE
countries today)
Bankislami Ltd., Emirates global Islamic
Emirates Global Islamic bank, First Dawood
bank ltd., Alfalah Islamic Islamic bank ltd., Dubai
banking division, Islamic Bank ltd.
Standard Chartered
Islamic Banking division
Using big resources than Islamic and halal deposit
other Islamic banks in munafa & savings
market and using Arabic seekers, basing
value proposition, bank advertisement on purely
wants too be i1st Muslim value
complete large and proposition.
fastest growing bank in
Pakistan not focusing on
AXIS MARKETING OF ISLAMIC BANKING PRODUCTS 149

“Islamic” niche market

only.
20. Customer response Medium but not much as Medium and not fully
expected. exploited as still only
operating in Karachi
mainly.
21. Medium of Newspapers, seminars, Newspapers, seminars,
advertisement international conferences, etc.
etc.

CHAPTER 04- Islamic Banking in Pakistan