The aim of this study is to analyse the impact of the Global Financial Crisis of 2007-09 on the performance of Islamic banks licensed to operate in Pakistan. For that purpose, the sample of 5 full-fledged Islamic banks operational in Pakistan was collected from the year 2006 to 2018. In addition to the GFC, two firm specific variables (size and leverage) and two macro-economic variables (inflation and economic growth) were used as control variables in this study. The empirical analysis was performed with the help of Fixed Effect Model (FEM). In the light of the results, it was found that the performance of Islamic banks in Pakistan was not influenced by the Global Financial Crisis (GFC). In terms of control variables, a positive impact of Islamic banks’ size was found on their performance. Overall, it is concluded in this study that Islamic banks in Pakistan did not show any response towards the global financial crisis of 2007-09.