Meezan Bank | The Premier Islamic Bank (2024)

FAQs

Is Meezan Bank really Islamic bank? ›

Meezan Bank is Pakistan's premier Islamic bank, operating with more than 1000 branches in over 320 cities across the country.

The Bank's main shareholders are leading financial institutions of the Region namely, Noor Financial Investment Company, Pak-Kuwait Investment Company, and the Islamic Development Bank of Jeddah.

Meezan Bank is Pakistan's first and largest dedicated Islamic bank with: A network of over 550 online branches across the country. First-ever Islamic commercial banking license by the State Bank of Pakistan. Recognition as 'Best Islamic Bank in Pakistan' by numerous local and international institutions.

The account can be opened with just Rs. 100/- and a valid CNIC/ SNIC / Passport / National Identity Card for Overseas Pakistanis (NICOP) / Pakistan Origin Card (POC) / Alien Registration Card (ARC) issued by National Aliens / Registration Authority (NARA) / Pension Book.

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. Car Ijarah is Meezan Bank's car financing product and is Pakistan's first Interest-free car financing.

VIS Credit Rating Company Limited has reaffirmed the entity ratings of Meezan Bank Limited ('MEBL' or the 'Bank') at 'AAA/A-1+' (Triple A/A-One Plus).

Meezan Bank acquires the Pakistan operations of Societe Generale and concurrently Al Meezan Investment Bank converts itself into a full fledged Islamic commercial bank. The first Islamic banking license is issued to the Bank and it is renamed Meezan Bank.

Meezan Bank has been acknowledged as the Best Bank of Pakistan for the third time at the Pakistan Banking Awards - 2023, the most prestigious awards in the country's financial sector.

Convenient & Riba-free

Meezan Roshan Digital Account enables overseas Pakistanis to open a bank account digitally /online from anywhere outside Pakistan without visiting a branch and permits account holders to send money into the account.

Best Islamic Retail Bank—Al Rajhi BaNK

Al Rajhi is the world's largest Islamic bank globally, with $216 billion in assets and equity of $28 billion. Along with its base in Saudi Arabia, it has operations in Jordan, Kuwait and Malaysia.

Which is the number one Islamic bank in Pakistan? ›

The Premier Islamic Bank – Meezan Bank, Pakistan's first and largest Islamic bank that offers a range of Shariah-compliant products and services to cater your financial needs.

420 banks in 77 countries & 650 Global Correspondents.

Mr. Irfan Siddiqui is the founding President and CEO of Meezan Bank since 1997 to date.

Bank AL Habib offers AL Habib Roshan Digital Account for Non-Resident Pakistanis (NRPs) and Foreign Nationals having a Pakistan Origin Card (POC) to open and manage a Pakistani bank account through Roshan Digital Account (RDA) in Bank AL Habib via an online digital platform.

Next time you're planning to go abroad, you can use your Meezan Visa debit card for all your purchases and to withdraw cash at ATMs, just as you do at home wherever you see the Visa symbol. Convenient - No need to buy foreign currency or travellers' cheques in advance.

Islamic banking is defined as banking system which is in consonance with the spirit, ethos and value system of Islam and governed by the principles laid down by Islamic Shariah. Interest free banking is a narrow concept denoting a number of banking instruments or operations which avoid interest.

Truly Halal and Absolutely Riba-Free!

The Certificate of Islamic Investment (COII) is a Mudarabah-based deposit product through which you can invest your savings for one year and earn Halal profit on a periodic basis.

Meezan Bank provides Shariah-compliant services to insurance companies for introducing Takaful windows. MBL provides assistance in the areas of Shariah supervisory framework, product development and refinement, capacity building, investment guidelines, Shariah audit, Shariah compliance and internal controls.

The profit charged by Meezan Bank is therefore payment for use of its share of the house during the life of the contract. Your payments to Meezan Bank are hence completely Riba-Free.