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HBL launches Konnect Islamic Account

Pakistan’s only Islamic Branchless Banking Account

12:49 PM | 1 Sep, 2022
HBL launches Konnect Islamic Account

KARACHI – Konnect by HBL has launched Pakistan’s only Branchless Banking Islamic Account, Konnect Islamic Account.

This shariah-compliant account follows Konnect’s promise of ease and convenience and can be opened by using a CNIC and mobile number. Konnect Islamic Account offers all Branchless Banking transactions/services such as Fund Transfers, Bill Payments, Corporate Payments and much more. A Konnect Islamic Account holder can also apply for Islamic Debit Card to access nationwide ATMs for cash withdrawal and POS transactions.

Konnect’s 45,000 + agents are equipped to open Konnect Islamic accounts. They provide an unprecedented convenience to open a fully shariah-compliant account, especially to those who previously could only be banked via limited Islamic bank branches. The Konnect agents will also be assisting those who are unable to open their accounts via the Konnect App and even those who don’t own a smartphone. 

The aim is to reshape people’s lives with Islamic financial inclusion to enable them to live in accordance with Islamic values. 

Commenting on this occasion, Abrar Ahmed Mir, Chief Innovation & Financial Inclusion Officer – HBL, said, “HBL Konnect is already catering to a massive unbanked population of Pakistan. As much of Pakistan remains unbanked, HBL always seeks to address this gap. Our Branchless Banking Channels have played a key role in addressing this issue in line with our focus to become more customer-centric. We understand the need for shariah-compliant services is growing fast and we believe this service will help enhance inclusion.”

Commenting on this occasion, Shahzad Babar, Head Retail Banking Islamic – HBL, said, “We invest in Islamic modes of financing such as ijarah, modaraba and offer riba-free products to better serve the Islamic Banking needs of our customers. All the Islamic products offered by HBL are approved by the Bank’s Shariah Board.”

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Pakistani rupee exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 18 May 2024 Forex Rates

Pakistani currency rates against US Dollar and other currencies on May 18, 2024 (Saturday) in open market.

USD to PKR rate today

US dollar was being quoted at 277.4 for buying and 280.35 for selling.

Euro stands at 297 for buying and 299.5 for selling while British Pound rate is 348.5 for buying, and 352 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal came down to 73.50.

Today’s currency exchange rates in Pakistan - 18 May 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.4 280.35
Euro EUR 297 299.5
UK Pound Sterling GBP 348.5 352
U.A.E Dirham AED 75.25 76
Saudi Riyal SAR 73.5 74.25
Australian Dollar AUD 181 183
Bahrain Dinar BHD 747.77 755.77
Canadian Dollar CAD 203 205
China Yuan CNY 38.49 38.89
Danish Krone DKK 40.25 40.65
Hong Kong Dollar HKD 35.96 36.31
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 913.28 922.28
Malaysian Ringgit MYR 58.69 59.29
New Zealand Dollar NZD 169.45 171.45
Norwegians Krone NOK 25.67 25.97
Omani Riyal OMR 730.59 738.59
Qatari Riyal QAR 76.41 77.11
Singapore Dollar SGD 203 205
Swedish Korona SEK 25.67 25.97
Swiss Franc CHF 309.01 311.51
Thai Bhat THB 7.57 7.72

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