Meezan Bank is an Islamic bank based in Karachi, Pakistan. The Bank commenced operations in 2002, on being issued the first-ever Islamic commercial banking license by the State Bank of Pakistan; in 2012 Meezan Bank completed a milestone of 10 years of Islamic Banking in Pakistan.
Meezan Bank Ltd. is a publicly listed company with a paid-up capital of Rs. 9 billion (March, 2012). The Bank is sponsored by leading financial institutions from Pakistan and the Middle East that include Noor Financial Investment Co., Kuwait, Pakistan Kuwait Investment Company (Pvt.) Limited and Islamic Development Bank, Jeddah. The JCR-VIS Credit Rating Company Limited, has rated Meezan Bank’s short term rating at A-1+ (A-One Plus), the highest standard in short term rating, and rated the long-term entity rating at AA- (Double A Minus) with stable outlook.
The Bank offers a range of personal and corporate Islamic banking products and services through a retail banking network of over 280 branches in 88 cities. Backed by a state-of-the art T-24 core banking system, the branch network is supported by 24/7 banking services that include over 200 ATMs, Meezan VISA Debit Cards, Internet Banking, SMS alerts and a 24-hour Call Center.
Meezan Bank has an in-house Shariah Advisor and a Shariah Supervisory Board composed of Shariah scholars; the Bank operates strictly under the principles of Islamic Shariah and is well recognized for its product development and Islamic Banking research and advisory. Meezan Bank has been consistently recognized as the best Islamic Bank in Pakistan by various local and international institutions over the past several years including ‘Best Islamic Financial Institution in Pakistan’ by Global Finance magazine and ‘Best Islamic Bank in Pakistan’ by Islamic Finance News of RED money Group, Malaysia.
Read more about Meezan Bank: Financial Results
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