Senior Shariah scholars and advisers of Islamic banks and conventional banks with Islamic windows have agreed to standardise Forex and interbank Musharakah agreements between Islamic banks and Islamic banking windows. This move will facilitate the avai…
Meezan Bank has become the first bank in Pakistan which offers Shariah-compliant agricultural financing by extending a Shariah-compliant financing facility to the agriculture industry of Pakistan. Adhering to the financial arrangement, the bank will se…
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…
The 18th Shariah Supervisory Board meeting of Meezan Bank Limited took place at the Darul Uloom Korangi on 5th january.
Shariah Board stated performance and growth of the bank and expressed satisfaction with the Shariah-conformity of the bank’s product…
Meezan Bank from Pakistan has accomplished the country’s first short-term Sukuk deal.
The PKR1.5bn ($17.3m) Sukuk was launched by KAPCO (Kot Addu Power Company Ltd), Pakistan’s largest power company. It means a six month Musharakah and a Shari’ah compl…
Meezan Bank had a huge influx of funds this year and Muhammad Asad, executive vice president and chief investment officer of Al Meezan Investment Management, stated that it is because of the Government of Pakistan’s Sukuk program, which has enjoyed eno…
Meezan Bank is the first Advisor and Lead Arranger for the first ever short-term Sukuk for Kot Addu Power Company Limited (KAPCO), bringing another “first” to Pakistan’s Islamic Banking Industry.
The introduction of short-term Sukuk by Meezan Bank im…
Meezan banks bottom-line almost doubled during 1HCY11.
Since the returns from investments accounted for 57% of the top-line in 1HCY11, the bank has benefited from higher investment in Ijarah Sukuk.
But beginning with June 30, the banks financing portfo…
Meezan Bank Ltd (MBL) has emerged as the tenth largest bank in terms of branches. She is the first full-service Islamic bank of Pakistan. Its subsidiary, Al Meezan Investment has also attained the status of the largest private sector asset management …
Muhammad Raza, Head of Commercial Banking at Meezan Bank, outlines the difference succinctly by using an often-quoted reference from the Quran that allows trade but forbids ‘riba’ or usury. He explains that riba is a form of a transaction that is i…
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