Allied Aitebar is Allied Bank's in-house Islamic banking division — not a separate bank — offering Shariah-compliant current and savings accounts, home and car financing structured as Musharakah and Ijarah rather than interest-bearing loans, and business financing, with every product cleared by the bank's own Shariah Board before launch.
Allied Bank operates as a conventional commercial bank with a dedicated Islamic banking window, Allied Aitebar, rather than as a fully Islamic bank. Customers choose upfront whether to open a conventional or an Aitebar (Islamic) account — the two run on different underlying contracts and are not interchangeable. In 2026, Allied Aitebar was named Pakistan's Best Islamic Bank at the Euromoney Awards for Excellence: Euromoney's own coverage cites Islamic deposits growing from PKR110 billion to PKR213 billion (a 94% rise), net assets up 27% to PKR33 billion, and profitability of PKR7.8 billion for the year, alongside total Islamic banking assets more than doubling from PKR156 billion to PKR361 billion — see the Latest News page for that announcement.
Source: Euromoney's official "Pakistan's Best Islamic Bank 2026: Allied Bank" article, June 17, 2026.
Home Musharakah & Car Ijarah Payment Calculator
Both products price individually per customer, same as their conventional counterparts, so there's no single published rental rate — enter the rate from your own quote or Key Fact Statement to see your monthly payment.
Enter your quoted rental rate above to see your estimated payment.
Home Musharakah's Rs 75 million financing cap is per Allied Aitebar's official product disclosure. Neither product's rental rate is published — both price per customer segment and risk profile, same as their conventional counterparts — so the rate must come from your own Key Fact Statement. This calculator simplifies each structure to a standard declining-balance rent/instalment schedule for estimation purposes; your actual Musharakah unit-buyout schedule or Ijarah rental review dates may work slightly differently in practice.
Islamic Accounts
Allied Aitebar's account range mirrors Allied Bank's conventional lineup in structure, but each runs on an Islamic contract instead of interest — current accounts on Qard (a benevolent loan structure with no return), and savings/premium accounts on Mudarabah (a profit-and-loss-sharing partnership between the bank and depositor).
| Account | Contract Basis | Built For |
|---|---|---|
| Allied Islamic Current Account | Qard | Everyday transactional banking, no profit paid |
| Allied Islamic Basic Banking Account | Qard | Low/no minimum balance, basic transactional needs |
| Allied Islamic Asaan Current Account | Qard | Simplified, low-documentation account opening |
| Allied Islamic Savings Account | Mudarabah | General savings with profit-sharing |
| Allied Aitebar Premium Account | Mudarabah | High-net-worth individuals, businesses, pension/benevolent funds, government bodies |
| Khalis Munafa Account | Mudarabah | Customers prioritizing higher profit-sharing returns |
| Khanum Account (Islamic) | Mudarabah | Women's banking, Islamic variant |
| Allied Islamic Youth Account | Mudarabah / Qard variants | Younger account holders, regular and Asaan tiers |
| Allied Aitebar Senior Citizen Account | Mudarabah / Qard variants | Senior citizens, regular and Asaan tiers |
| Allied Aitebar Waseela-e-Hajj & Umrah Account | Mudarabah | Structured saving toward Hajj or Umrah |
| Allied Aitebar Asaan Remittance Account | Qard | Domestic remittance beneficiaries, low-income segment |
| Business Plus Account (Islamic) | Qard / Mudarabah | SME and business banking, payroll management |
Source: Allied Bank's official Islamic Banking FAQs and individual Allied Aitebar product pages.
Islamic Financing
Home Musharakah
Financing up to Rs 75 million under a diminishing-Musharakah structure: Allied Aitebar and the customer jointly buy the property, the customer pays rent on the bank's share while gradually buying it out, with free life takaful included and full ownership transferring at the end of the term.
Car Ijarah
Islamic vehicle leasing — Allied Aitebar retains ownership and leases the usufruct (right of use) to the customer for an agreed rent, with ownership transferring through a separate purchase undertaking at the end of the term, not built into the lease itself.
Business Finance
Shariah-compliant financing up to PKR 15 million for traders and manufacturers needing working capital or asset purchase, alongside Islamic term finance, Ijarah- and Musharakah/Mudarabah-based facilities for larger business needs.
Solar System Finance
Shariah-compliant financing for rooftop solar installations, letting customers cut electricity costs without an interest-based loan.
Salary Management (Employers)
An Asaan Remunerative Current Account structure that lets employers automate Shariah-compliant payroll disbursement for staff, requiring an Allied Islamic Business Plus Account.
Export & Trade Financing
Islamic Long Term Financing Facility (ILTFF) for imported/local plant and machinery, plus Islamic Export Refinance and Ijarah/Diminishing-Musharakah-based facilities for exporters, run under SBP's Islamic refinance schemes.
Source: Allied Bank's official Islamic consumer and business finance product pages.
Islamic vs Conventional — Key Structural Differences
| Concept | Islamic (Aitebar) Structure | Conventional Equivalent |
|---|---|---|
| Home Financing | Home Musharakah — joint ownership, rent on the bank's share, no interest | Home Loan — interest charged on outstanding principal (see Home Financing page) |
| Car Financing | Car Ijarah — Islamic lease, bank retains ownership, customer pays rent | Car Loan — interest-bearing installment loan (see Car Financing page) |
| Savings Returns | Profit-sharing under Mudarabah — return varies with the bank's actual earnings on pooled deposits | Fixed or KIBOR-linked interest rate |
| Current Accounts | Qard — a benevolent loan to the bank, no return paid or expected | Standard current account, may or may not pay interest depending on type |
Allied Bank does not simply rename "interest" as "profit" and call a product Islamic — Aitebar's contracts (Qard, Mudarabah, Musharakah, Ijarah) are structurally different arrangements, each reviewed and approved by the bank's Shariah Board before launch.
Shariah Governance
Every Allied Aitebar product and transaction is reviewed by Allied Bank's Shariah Board, chaired by Mufti Tayyab Amin, who holds a Shahadatul-Almiah (Master's-equivalent in Arabic & Islamic Studies) from Jamia Darul-Uloom Karachi, an M.Phil in Islamic Studies from the University of Sargodha, and AAOIFI's Certified Shariah Advisor and Auditor (CSAA) qualification. Board members, including Mufti Mahmood Ahmad, bring additional experience across Islamic banks, Mudarabah companies, and Takaful operators. PakFinHub is not a religious authority and makes no independent judgment on Shariah compliance — for the full board roster and each member's credentials, see Allied Bank's official Shariah Board page.
Source: Allied Bank's official Shariah Board Members page.
Islamic Branch Network
Allied Bank operates dedicated Islamic banking branches alongside its conventional network, but ABL has not published a single current figure for the total count of Islamic-only branches at the time of writing — use Allied Bank's official Islamic Branches locator on abl.com, or the general Branch & ATM Locator page, to find your nearest one rather than relying on an unverified number.
Good For
- Understanding what actually makes an Aitebar account or financing product Islamic, structurally
- Comparing Home Musharakah against a conventional home loan before choosing
- Finding the right Aitebar account for your life stage — youth, senior citizen, Hajj savings, or business
- Knowing who to hold accountable for Shariah compliance — the bank's own Shariah Board, not PakFinHub