Apvision Private Limited
Encyclopedia
Apvision Private Limited is a privately held software company based in Pakistan
Pakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...

, which specializes in Islamic Banking
Islamic banking
Islamic banking is banking or banking activity that is consistent with the principles of Islamic law and its practical application through the development of Islamic economics. Sharia prohibits the fixed or floating payment or acceptance of specific interest or fees for loans of money...

 software and technology solutions.
The company was incorporated in 2000 and acquired by AMZ Ventures Limited AMZVL in year 2006. Since its acquisition by AMZVL, Apvision has been designing banking products for Islamic Financial institutions.
Apvision launched its first Islamic financial product Islamic CFS, a Murabaha
Murabaha
Murabahah or murabaha is a particular kind of sale, compliant with shariah, where the seller expressly mentions the cost he has incurred on the commodities for sale and sells it to another person by adding some profit or mark-up thereon which is known to the buyer...

 based real-time Equity
Stock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...

 Trading
Trade
Trade is the transfer of ownership of goods and services from one person or entity to another. Trade is sometimes loosely called commerce or financial transaction or barter. A network that allows trade is called a market. The original form of trade was barter, the direct exchange of goods and...

 and Financing platform in 2006. First Dawood Islamic Bank
First Dawood Islamic Bank
Burj Bank Limited, formerly known as Dawood Islamic Bank Limited , 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...

 (sponsored primarily by Unicorn Investment Bank, Kingdom of Bahrain; Islamic Corporation for the Development of the Private Sector-ICD, Jeddah; and First Dawood Group
First Dawood Group
The First Dawood Group is a major financial institution in Pakistan. It owns First Dawood Investment Bank , Dawood Capital Management , Burj Bank , Guardian Modaraba and BRR International Modaraba ....

) launched Islamic CFS provided by Apvision in 2007 after approval from Centre of Islamic Economics and State Bank of Pakistan
State Bank of Pakistan
The State Bank of Pakistan is the central bank of Pakistan. While its constitution, as originally laid down in the State Bank of Pakistan Order 1948, remained basically unchanged until January 1, 1974, when the bank was nationalized, the scope of its functions was considerably enlarged...

.

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