Meezan Bank

Meezan Bank Limited
Public Limited
Traded as KSE: MEBL
Industry Islamic Banking, Commercial Banking
Founded 1997 (1997)
Headquarters Karachi, Pakistan
Products Murabaha, Ijarah, Diminishing Musharakah, VISA Debit Card, Saving Accounts, Consumer Banking etc
Number of employees
7,000 - 2014[1]
Slogan The Premier Islamic Bank
Website www.meezanbank.com
Meezan Bank Head Office at Shershah, Karachi, Pakistan.

Meezan Bank (Urdu میزان بینک) is the first and largest Islamic commercial Bank of Pakistan. The Bank is headquartered in Meezan House - Karachi, Pakistan. It has a network of over 550 branches in more than 125 cities of Pakistan. It commenced operations in 2002 when State Bank of Pakistan issued first-ever license for Islamic commercial banking. The Bank has a market share of 35% in Islamic banking industry of the country.

JCR-VIS Credit Rating Company Limited, an affiliate of Japan Credit Rating Agency, has rated the Bank’s short term rating at A1+ (A-One Plus), the highest standard in short term rating, and the long-term entity rating at AA (Double A) with “Stable” outlook, making it the only Islamic bank with AA credit rating in the Islamic banking industry of Pakistan.

Services

The Bank offers wide range of Shariah-compliant banking products and services to its customers, both retail and business. Besides traditional banking channels, the Bank offers various Alternate Distribution Channels including Internet Banking, ATM Banking, Visa & MasterCard debit card, SMS Banking, SMS Alerts, Mobile Banking Application and Utility Bills Payment through ATM and Internet Banking.

History

The founder of Pakistan, Quaid-e-Azam Mohammed Ali Jinnah while delivering speech at the opening ceremony of State Bank of Pakistan on July 1, 1948, stated:
"We must work our destiny in our own way and present to the world an economic system based on true Islamic concept of equality of manhood and social justice."

The statement serves as the concept of Islamic banking by the founding father of the nation that was created in the name of Islam in 1947.

On 18 October 2014, the Bank acquired the HSBC Pakistan operations. After conversion of the business and branches of HSBC Pakistan to Meezan Bank; the HSBC Pakistan Accounts and Term Deposit Receipts (TDRs) converted to Meezan Bank accounts and Certificates of Islamic Investments (COIIs).

Shareholding structure

Statement of financial position as at Dec. 31 2014

[2] [3]

References

External links

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