With the mission to offer one-stop innovative value-added Shariah compliant products and services, Meezan Bank is pleased to launch yet another novel product - Meezan Teens Club Account dedicated to the teens of the country. The account is based on Mudarabah principles.
Meezan Bank is a keen Socially Responsible Organization and realizing this responsibility, the Teens Club Account aims to provide a forum to teens where their maturing minds are groomed in a modern yet Islamic way. The Teens Club Account provides a blend of fun learning with special focus on character and value building.
Alhamdulillah, we also feel grateful for being the first Bank in the country which has realized the specific needs of teens and have tailored the Meezan Teens Club Account as such, packed with exciting features that teens would really appreciate.
Meezan Teens Club Account is a Mudarabah- based relationship where you will be the Investor (Rab-ul-Maal) and the Bank will be the Manager (Mudarib). Your funds will be utilized by the Bank to provide Islamic financing to customers.
The Bank will announce monthly profit on the Gross Income level based on profit sharing ratios and weightages announced at the beginning of the month. Latest profit sharing ratios and weightages of your Teens Club Account are available on the Bank's website www.meezanbank.com or can also be requested from the branches. Accordingly, your account will be credited with the proportionate profit amount. In case of any loss, as per the rules of Mudarabah, the Rab-ul-Maal shall bear the loss in the ratio of their investment.