INTRODUCTION

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 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, 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.


To be the Islamic Bank of Choice.

Provide innovative and efficient Islamic
Banking solutions to exceed customer
expectations and optimize shareholder value.

Purity:
Purity encompasses essential business values for Islamic
Banking such as purity of return and truthfulness of
character / actions
Integrity:
Integrity is the essential value of banking, particularly
Islamic Banking, it reflects honesty and clarity within
our communication, processes and our business
dealings.

Progressive Values:
Values that will take us forward and reflect an enduring
commitment to growth & progress.
Passion:
Passion reflects a winning attitude, an obsession with
our profession, delivery of highest levels of customer
services and an overwhelming strive towards
excellence.
Devotion:
Devotion indicates the need for hard work, consistency,
perseverance & a commitment
towards the organization, its customers and all its
stakeholders.

Mr. Khaled Mohammed Al Aboodi Chairman
Mr. Shehab M. Gargash Vice Chairman/Director
Mr. Azam Essof Kolia Director
Mr. Azhar Hamid Director
Mr. Fuad Azim Hashimi Director
Mr. Harold E. Hutchins Director
Mr. Najmul Hassan Director
Mr. Shafqat Ali Memon Director
Mr. Ahmed Khizer Khan President / CEO
Management Committee
Ahmed Khizer Khan President & CEO
Mushtaq Riaz Mirza Group Head - Corporate Banking
Kanwar Shahzad Group Head - Treasury
Sohail Sikandar Chief Financial Officer
Ihsan Ullah Ihsan Chief Risk Officer
Kamran Mustafa Siddiqui Group Head - Human Resources
Muhammad Mubbashir Yasin Group Head - Compliance & Controls
Saad Ullah Khan Group Head - Operations &Administration
Akram Khan Group Head - Technology
Umer Fareed Group Head - Marketing, Corporate
Affairs &Alternate Delivery Channels
Ibrar Gul Niazi Group Head - Legal
Shariah Advisor:
Prof. Mufti Munib-ur-Rehman

Head of Shariah Audit:
Mufti Syed Zahid Siraj


Branching Network
BURJ BANK LIMITED has network of 75 online braches that
is scattered around the geographic territory of Islamic
Republic of Pakistan.
Credit Rating
Based on the financial statements of the Bank for the
year ended December 31, 2012, the JCR-VIS Credit
Rating Company Limited has determined the Banks
medium to long-term rating as A and the short-term
rating as A-1 with stable outlook.
Application of Islamic Concepts in
Operations and Products
TRANSACTION APPROVAL
SYSTEM:
All financing transactions which included funder
transactions namely Murabaha, Murabaha cum Mudarabah,
Ijarah, Istisna and Diminishing Musharakah products as well
as non-funded products namely Letters of Credit,
Guarantees etc. were duly examined and scrutinized by the
Shariah Department in the light of Shariah guidelines,
prior to its execution in order to ensure Shariah
compliance and review beforehand. On this basis, Shariah
compliance was ensured and errors, if any, were rectified
before actual execution of the transactions to minimize the
Shariah non-compliance risk.
Application of Islamic Concepts in
Operations and Products
ISSUANCE OF PROFIT & LOSS DISTRIBUTION AND POOL
MANAGEMENT POLICY:
Based on the instructions and guidelines issued by SBP
vide IBD circular # 3 of 2012, the Bank issued a
comprehensive policy on Profit and loss distribution and
Pool Management. The policy governs the matters
relating to Depositors Pool Management and
Distribution of Profit & Loss by the Bank.
Application of Islamic Concepts in
Operations and Products
ISSUANCE OF COMPREHENSIVE CHARITY POLICY:
During the year, Shariah Department prepared and
issued comprehensive policy related to Charity Account
maintained by the Bank. The policy discuss matters
including sources of charity fund, treatment of charity
fund, usage of charity fund, guidelines on due diligence
and approval of charity request, and account
maintenance & its related disclosures.
Application of Islamic Concepts in
Operations and Products
TRAINING & DEVELOPMENT:
To enhance awareness among the staff of the Bank
about Islam & Islamic finance, a comprehensive
program of lectures were conducted with different
departments of the Bank. The Bank supported and
participated in various Islamic banking workshops,
seminars and certificate courses arranged by different
institutions including National Institute of Banking &
Finance (NIBAF),State Bank of Pakistan (SBP), and
International Centre for Education in Islamic Finance
(INCEIF). Shariah Departments staff also participated
in the Islamic Banking Seminars as a facilitator, which
were organized by the different organizations and
educational institutes.