Meezan Bank Limited, a publicly traded company was founded on January 27, 1997 and began operations of an investment bank, in August this year. In January 2002 in a historic initiative, Meezan Bank obtained the first full commercial bank license as the Islamic Bank by the State Bank of Pakistan.
Meezan Bank has clearly demonstrated that the largest Islamic bank in Pakistan, with an extensive network of offices in all major cities. The banking sector shows a paradigm shift from traditional ways of the business and the restoration is becoming increasingly astute and demanding financial consumer who is always very aware of the Islamic banks. Meezan Bank, the primary responsibility for the road to creating a stable and dynamic Islamic banking is full of dynamism and advanced products and services.
During the first five years of its operation as an Islamic commercial bank (2002 to 2007), the bank providing services to customers, Meezan Bank was one of the fastest growing banks in the history of the banking sector. The average growth in deposits was 60% per year during this period, while the branch network has grown from 4 to 100. The bank has a strong and credible management team consists of experienced professionals who have a strong balance sheet with excellent performance and a strong profitabilitya ratios, which the Bank at the beginning of the industry. The Bank has been allocated in the long term rating of the entity A + and short term rating of A-1 entity.
The banks are the major shareholders of large financial institutions in the region, namely Noor Financial Investment Company, Kuwait, a leading investment bank in Kuwait, Pak-Kuwait Investment Company, a AAA-rated financial institution in the country, the Islamic Development Bank in Jeddah and Shamil Bank of Bahrain. A leading Islamic bank in Bahrain. The established position, reputation, strength and stability of these institutions add significant value to the Bank through the representation and applied synergies.
The Bank has an international reputation, a high caliber and pro-active Shariah Supervisory Board is chaired by Justice (Retd.) Maulana Muhammad Taqi Usmani, internationally recognized in the field of Shariah, particularly Islamic Finance. He is Vice-President of the Islamic Fiqh Academy, Jeddah and in his long and illustrious career also served as a Judge of the Shariat Appellate Bench, Supreme Court of Pakistan. The Board of Directors also Sheikh Essam M. Ishaq (Bahrain), Dr Abdul Sattar Abu Ghuddah (Saudi Arabia) and Dr Imran Usmani, who is also advisor to the Shariah of the Bank. Dr Imran is assisted by a team of professionals (also known as product development and closely supervise the operations of the Bank.
At Meezan Bank, we seek common ground with the banking system with no compromise on the decisions of the Sharia. The bank has an extraordinary capacity for research and development by combining the investment banks, commercial banks, the Sharia legal experts and researchers to develop innovative, viable and competitive and the value of the proposals not only meet the requirements of the today's complex financial world, but with the world-class service to our customers who demand high quality, all within the limits of the Shariah.
Meezan Bank has a solid customer base and information technology, based on knowledge, that the emphasis continues to use advanced technologies and systems. The Bank Corporate and Investment Banking is focused on development and the development of a long-term relationship with customers by understanding their needs for financing and providing financing solutions compatible with the Shariah banking and corporate structured finance.
By implementing a strong and aggressive strategic initiatives and tactics on the part of banking services, Meezan Bank to meet the main objective to offer its customers the accessibility and comfort in an atmosphere and culture of service and recognition of their needs. The Bank has a network of agencies that the growth in all major cities in the country.
At Meezan Bank, we believe in adding value to our customers and business life, dynamic and competitive products and services that meet their needs, while fully consistent with the precepts of the Shariah. At the same time, we strive to minimize the risk-adjusted returns can compete with our stakeholders.
Meezan Bank has clearly demonstrated that the largest Islamic bank in Pakistan, with an extensive network of offices in all major cities. The banking sector shows a paradigm shift from traditional ways of the business and the restoration is becoming increasingly astute and demanding financial consumer who is always very aware of the Islamic banks. Meezan Bank, the primary responsibility for the road to creating a stable and dynamic Islamic banking is full of dynamism and advanced products and services.
During the first five years of its operation as an Islamic commercial bank (2002 to 2007), the bank providing services to customers, Meezan Bank was one of the fastest growing banks in the history of the banking sector. The average growth in deposits was 60% per year during this period, while the branch network has grown from 4 to 100. The bank has a strong and credible management team consists of experienced professionals who have a strong balance sheet with excellent performance and a strong profitabilitya ratios, which the Bank at the beginning of the industry. The Bank has been allocated in the long term rating of the entity A + and short term rating of A-1 entity.
The banks are the major shareholders of large financial institutions in the region, namely Noor Financial Investment Company, Kuwait, a leading investment bank in Kuwait, Pak-Kuwait Investment Company, a AAA-rated financial institution in the country, the Islamic Development Bank in Jeddah and Shamil Bank of Bahrain. A leading Islamic bank in Bahrain. The established position, reputation, strength and stability of these institutions add significant value to the Bank through the representation and applied synergies.
The Bank has an international reputation, a high caliber and pro-active Shariah Supervisory Board is chaired by Justice (Retd.) Maulana Muhammad Taqi Usmani, internationally recognized in the field of Shariah, particularly Islamic Finance. He is Vice-President of the Islamic Fiqh Academy, Jeddah and in his long and illustrious career also served as a Judge of the Shariat Appellate Bench, Supreme Court of Pakistan. The Board of Directors also Sheikh Essam M. Ishaq (Bahrain), Dr Abdul Sattar Abu Ghuddah (Saudi Arabia) and Dr Imran Usmani, who is also advisor to the Shariah of the Bank. Dr Imran is assisted by a team of professionals (also known as product development and closely supervise the operations of the Bank.
At Meezan Bank, we seek common ground with the banking system with no compromise on the decisions of the Sharia. The bank has an extraordinary capacity for research and development by combining the investment banks, commercial banks, the Sharia legal experts and researchers to develop innovative, viable and competitive and the value of the proposals not only meet the requirements of the today's complex financial world, but with the world-class service to our customers who demand high quality, all within the limits of the Shariah.
Meezan Bank has a solid customer base and information technology, based on knowledge, that the emphasis continues to use advanced technologies and systems. The Bank Corporate and Investment Banking is focused on development and the development of a long-term relationship with customers by understanding their needs for financing and providing financing solutions compatible with the Shariah banking and corporate structured finance.
By implementing a strong and aggressive strategic initiatives and tactics on the part of banking services, Meezan Bank to meet the main objective to offer its customers the accessibility and comfort in an atmosphere and culture of service and recognition of their needs. The Bank has a network of agencies that the growth in all major cities in the country.
At Meezan Bank, we believe in adding value to our customers and business life, dynamic and competitive products and services that meet their needs, while fully consistent with the precepts of the Shariah. At the same time, we strive to minimize the risk-adjusted returns can compete with our stakeholders.
