Meezan Bank approves first ever air-time Sukuk

Meezan Bank Limited has received the approval of its Shariah Supervisory Board (SSB) for the concept for the air-time based Sukuks which will be issued in Pakistan. Furthermore, detailed guidelines for Islamic banks involved in sharing of security with other banks for long-term Islamic projects and structured financing have been approved. The resolution was made at the 19th meeting of the SSB of Meezan Bank at Darul Uloom Korangi, Karachi. There, a summary of Meezan Bank's Shariah audit was presented to the SSB.

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