ML

Meezan Bank Limited

www.meezanbank.com link_icon

Market Research Report: Meezan Bank





Company Overview



  • Name: Meezan Bank

  • Mission: Establish Islamic banking as the banking of first choice to facilitate the implementation of an equitable economic system, providing a strong foundation for establishing a fair and just society for mankind.

  • Founded: 1997 as Al-Meezan Investment Bank; rebranded to Meezan Bank in 2002.

  • Key People:

  • Chairman: Mr. Riyadh S.A.A. Edrees

  • President & CEO: Mr. Irfan Siddiqui

  • Deputy CEO: Syed Amir Ali

  • Board Members include Justice (Retd.) Muhammad Taqi Usmani (Chairman of Shariah Board), and Dr. Muhammad Imran Ashraf Usmani (Vice Chairman - Shariah Board).

  • Headquarters: Meezan House, C-25, Estate Avenue, SITE, Karachi, Pakistan.

  • Number of Employees: No information is available.

  • Revenue: No information is available.

  • Known For: Being Pakistan’s first and largest Islamic bank offering Shariah-compliant banking products and services.


Products



Car Ijarah


  • Description: Pakistan’s first Riba-free car financing scheme based on Islamic principles of Ijarah (leasing).

  • Key Features:

  • Interest-free vehicle financing.

  • Suitable for individuals seeking Shariah-compliant vehicle financing.


Easy Home


  • Description: An interest-free home financing solution operating on the Diminishing Musharakah model.

  • Key Features:

  • Riba-free housing finance.

  • Ideal for those wishing to purchase or renovate a home through Islamic financing.


Bike Ijarah


  • Description: A Riba-free motorcycle financing facility based on Ijarah (leasing).

  • Key Features:

  • Interest-free motorcycle acquisition.

  • Targets a wide range of customers needing affordable vehicle financing options.


Debit Cards


  • Description: Secure cards providing various discounts and privileges.

  • Key Features:

  • Wide acceptance.

  • Discounts at selected retailers.


Recent Developments



Partnerships and Collaborations


  • Meezan Bank and Hamdard Laboratories: The two organizations strengthened their partnership by integrating advanced transaction banking services and digitalizing payments and collections.

  • Pak-Qatar Family Takaful: Introduced an instant withdrawal facility for Takaful clients through a strategic collaboration.

  • Mastercard Partnership: Enhanced offerings in the debit cards portfolio to include bespoke travel and lifestyle benefits, along with hosting a Mastercard-led cybersecurity workshop.

  • Haball Arrangement: Signed a referral arrangement aimed at enhancing and digitizing cash management services for businesses.


Awards & Recognition


  • Recognized as the Best Bank in Pakistan at the Pakistan Banking Awards 2023 for its contribution to Islamic finance.


Technological Advances


  • Cybersecurity Workshop: Hosted the first Mastercard-led cybersecurity workshop in Pakistan, enhancing cybersecurity preparedness.




The above-provided information delivers a comprehensive view of Meezan Bank, focusing on its mission, key personnel, products, and recent strategic developments. The bank is well-regarded for its contributions to Islamic banking and continuous efforts in digital and technological advancements.