Meezan Bank is the best bank in Pakistan and 1st & largest Islamic bank. The bank has a capital of almost 14.1 Billion rupees and is a rapidly growing financial institution in its banking sector. The bank provides a wide range of Islamic-banking services and products through its network of more than eight-hundred branches in over two-hundred and forty Pakistani cities.
Pakistan Banking Awards has recognized Meezan Bank as Pakistan’s Best Bank. While several international and local institutes have recognized it as ‘Pakistan’s Best Islamic-Bank.’ This article carries every detail about the Bank, including Meezan Bank History.
|In Urdu:||میزان بینک|
|Traded As:||KSE: MEBL|
|Industry:||Islamic Banking, Commercial Banking|
|CEO:||Irfan Siddiqui (1997–)|
|Meezan Bank:||Pakistan’s first and largest Islamic bank|
|operations:||the Bank commenced operations in 2002|
|branches:||166 branches in 40 different cities.|
|Share Holders:||world-renowned financial institution|
|paid-up capital:||Rs. 10 billion|
|Product:||Murabaha, Ijarah, Diminishing Musharakah, VISA Debit Card, Saving Accounts, Consumer Banking, etc|
|Revenue:||₨22.25 billion (US$210 million) – 2015|
|Net income:||₨5.02 billion (US$48 million) – 2015|
|Total assets:||₨531.8 billion (US$5.1 billion) – 2015|
|A number of employees:||8,500|
|Motto:||The Premier Islamic Bank|
|Subsidiaries:||Plexus (Pvt) Ltd.|
Meezan Bank History
The bank was founded in 1997 to carry out Islamic Banking. In 2002 the bank received its Islamic-banking license and was renamed ‘Meezan Bank.’ Then-President Pervaiz Musharraf inaugurated the new Islamic-Commercial bank at an inauguration ceremony held in Karachi.
In 2003 the bank established itself as a pioneer of the Islamic-banking in the country and rapidly established branches all over Pakistan. A broad range of products was launched and developed, strengthening the bank’s position as the country’s Premier Islamic-bank. In 2007 the bank opened almost a hundred branches in thirty-one cities.
Set up Islamic banking as 1st choice banking to enable implementation of an unbiased economic system, thus providing a solid base for founding a just and fair society for humanity.
To emerge as a premier Islamic bank, offering a reliable shop for value-added and innovative services and products to their customers/clients within Shariah’s boundaries. Simultaneously, optimizing the value of stakeholders via an organizational environment based on learning, respect, fairness for enterprise and individuals’ performance.
- Shariah Compliance
- Service Excellence
Network of Branches
The bank has over eight-hundred branches in two-hundred and forty cities in Pakistan; it is the largest Pakistani bank. With this grand network, the bank’s potential and existing customers/clients are closer in advantaging from Islamic-banking at the doorstep of the bank. All Meezan branches are providing online banking services to their clients.
Organizational Chart of Bank
- Company Secretariat
- Internal Audit & Business Risk-Review
- Shariah Audit
- Consumer Finance
- Retail-Banking, Commercial SME and Agriculture
- Treasury and Home Remittances
- Corporate and Institutional-Banking
- Investment Banking and Advisory
- Karachi (West)
- Karachi (South)
- Karachi (North)
- Karachi (East)
- Lahore (West)
- Lahore (East)
Corporate Social Responsibility
The bank aims to create value for society and investors simultaneously, in such a way that is connected to its moral values and Islamic-principles of Ehsan. The bank feels its responsibility as part of society and intends to contribute positive things to society.
Thus, it partnered with several organizations to implement and design initiatives specifically in the education and health sectors to benefit society.
Meezan bank is focusing on the provision of quality and standard education to Pakistani youth. In this regard, the most beneficial and ambitious educational projects are:
- PEF (Professional Education-Foundation)
- Centers for Excellence in Islamic-Finance
- IBA National Talent-Hunt Program
The bank is supporting individuals’ rights to have access to quality education and health care facilities regardless of their income. The bank is collaborating with the following non-profit organizations dedicated to playing their role in society.
- The Indus Hospital
- OSF-Omair Sana Foundation
- SIUT-Sindh Institute of Urology Transplant
- LRBT (Layton Rahmatullah Benevolent Trust)
- SKMCH (Shaukat Khanum Memorial Cancer Hospital)
- Behbud Association in Karachi
Code of Conduct
All the bank employees should follow this code of conduct:
- Bank employees are directed to follow discipline, integrity, dignity, and integrity in all dealings with customers, officials, the public, and other fellow bankers.
- The employees must follow all rules and regulations and avoid such criminal activities or actions that may cause damage to the bank’s interests.
- Employees should conduct all transactions and all business activities honestly.
- Employees should not engage in money laundering and other fraud activities.
- In case of any conflict, employees should inform their immediate boss.
- Employees aren’t allowed to receive any personal benefit like gifts, cash from clients, or customers.
- Employees should keep bank information confidential and shouldn’t leak it to anyone outside bank premises.
- The employees could only update or access the bank’s data or system of which the bank has given them authority.
- Employees are not allowed to take part in any political activity or become part of a political party.
- If any employee observes any malpractice or wrongdoing, it is his obligation to inform the bank’s whistleblowing program.
- Bullying at the workplace is not allowed.
- The employees should follow proper dress code.
Meezan Bank Board of Directors
- Mr. Riyadh S.A.A. Idress-Chairperson since 2012
- Mr. Faisal A.A.A. Al Nassar-Director since 2015
- Mr. Badar-Director since 2015
- Mr. Mubashar-Director since 2019
- Mr. Basal Al Badar-Member
- Mr. Muhammad Guermazi-Member
- Mr. Saad Abbasi-Member
- Mr. Noor-ur-Rehman-Director since 2014
- Ms. Nausheen Ahmad-Member
- Mr. Atif Azam-Director
- Mr. Irfan Siddique-CEO & President
- Justice Retired Muhammad Taqi-Chairperson
- Dr. Muhammad Imran Ashraf-Vice Chairperson
- Sheikh Esam Muhammad-Member
- Mufti Muhammad Naveed-Member
Facilities Offered to Employees
The bank ensures a balance between work-life and entertainment for its employees and offers the following facilities:
- Praying Area
- Mental & Physical Fitness
- Beach and Farmhouse Huts
- In House Café
- Training Facilities & Grand-Auditorium
- Secure Transportation Service
- The facility of Day Care for Mothers
Company Rupees (Million)
Islamic Development-Bank 1,932
Noor Financial-Investment Company 4,986
Registered & Head Office
Address: Meezan Bank Ltd, Meezan House, C-25 Estate Avenue, Site, Karachi
Phone # +92-21-37133500, +92-21-38103500