Meezan Providence Certificate is a long-term investment certificate specially designed to cater to the needs of corporate and business concerns for purposes of investing their Provident, Pension and Gratuity Funds.
Meezan Providence Certificate is an ideal investment for Individuals, Sole-Proprietorships, Partnerships and Limited Companies.
Meezan Providence Certificate works on the principle of Mudarabah under which the customer is an Investor (Rab-ul-Maal), and the Bank is the Manager (Mudarib) of the funds deposited by the customer. The Bank allocates the funds received from the customers to a Deposit pool. Funds in the pool are invested under Islamic modes of finance that include but are not restricted to Murabaha, Sukuk and Ijarah.
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