After the privatization the central bank regulatory powers were restored, by 2010, there

were five public commercial banks, 25 domestic private banks, six foreign banks and four
specialized banks. There are now 9,348 bank branches spread throughout the country.
In 1960s a bank in Egypt “MytGhamr” introduced a system for Islamic banks, since
then the trend of Islamic bank is rapidly growing all over the world. State Bank of Pakistan
allowed the establishment of Islamic banks (interest free banking) in private sector in 1980,
moreover the commercial banks that already exist in the market of Pakistan were also allowed
to setup new subsidiaries which could be considered as Islamic Subsidiaries and must have a
separate body for their operations. Such banks were required to hire Sharia advisors to keep
their operations according to the Sharia. In Pakistan many banks are providing services based
on Islamic Sharia. Most of the Banks which falls in the criteria are also given license by State
Bank of Pakistan. Following are top Islamic Banks of Pakistan:
 Meezan Bank
 AL Baraka Islamic Bank
 Bank Islami
 Dubai Islamic Bank
 Burj Bank
There is wide range of banks operating in Pakistan and some of them operate at
international level as well. Even though only few are the top of the list due to their particular
individuality and exclusive features. Following is the list of top 10 banks of Pakistan according
to the Pakistan Credit Rating Agency (PACRA) March 2015.