Meezan Bank, Pakistan’s first and largest Islamic bank, is a publicly listed company with a paid-up capital of Rs. 10 billion. It is one of the fastest growing financial institutions in the banking sector of the country. With its Vision of establishing ‘Islamic banking as banking of first choice ...’ – the Bank commenced operations in 2002, after being issued the first-ever Islamic commercial banking licence by the State Bank of Pakistan.
Meezan Bank is now the 7th largest bank in Pakistan and the leading Islamic bank of the country. The Bank provides a comprehensive range of Islamic banking products and services through a retail banking network of more than 600 branches supported by a countrywide network of over 570 ATMs, Visa & MasterCard Debit cards, a 24/7 Call Center, Internet Banking and Mobile Banking facility.
Meezan Bank has consistently been recognized as the Best Islamic Bank in Pakistan by numerous local and international institutions, which is a testimony of the Bank’s commitment to excellence. These institutions include Islamic Finance News - Malaysia, Global Finance magazine - New York, Asset AAA - Hong Kong, Asiamoney – Hong Kong, The Banker – United Kingdom, South Asian Federation of Accountants, Islamic Finance Forum of South Asian Awards, Pakistan Banking Awards – Dawn & IBP Pakistan, Employers Federation of Pakistan and CFA Association - Pakistan.
The Bank operates strictly under the principles of Islamic Shariah and is well-recognized for its product development capability, Islamic banking research and advisory services. In order to ensure strict Shariah-compliance in all its products and services, the Bank has established a dedicated Product Development and Shariah Compliance department that operates under the supervision of the Bank’s in-house Resident Shariah Board Member and a Shariah Supervisory Board comprising of internationally renowned Shariah scholars.
The JCR-VIS Credit Rating Company Limited, an affiliate of Japan Credit Rating Agency, Japan has reaffirmed the Bank’s long-term entity rating of AA (Double A) and short-term rating at A1+ (A One Plus) with stable outlook. The rating indicates sound performance indicators of the Bank. Meezan Bank is the only Islamic bank with AA credit rating in the Islamic banking industry in Pakistan.