LAHORE, May 8: Al-Baraka Islamic Investment Bank plans to open more branches in various cities of Pakistan with an investment of Rs1 billion this year and next year.

Speaking at a forum of businessmen at the LCCI here on Wednesday, Al-Baraka general manager Zainul Abideen said the bank would extend its services to different cities around the country.

He said its two branches were already working in Lahore and Karachi and two more would be opened in Rawalpindi and Peshawar this year. He said next year it planned to open three more branches in Lahore, Karachi and Multan or Sialkot.

He said the bank’s Al-Baraka Mubarka Investment Account was 100 per cent Sharia-compliant product. He said the bank gave its conventional profit to the charities.