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Meezan Digital Remittance Account

For Customers Receiving Money from Abroad

Meezan Digital Remittance Account has been specifically designed to facilitate Resident Pakistanis who are beneficiaries of home remittance to cover living and personal expenses. Meezan Digital Remittance Account can be opened digitally through an easy and hassle-free process without physically visiting the branch. This initiative also helps in directing the influx of remittances towards the formal banking sector.

NOTE: Only One Digital Remittance Account will be offered per customer. This account is being offered to new customers only. If you are an existing Meezan Bank customer, kindly visit your parent branch.

Account can be fed with local credits up to the maximum limit of PKR 1,000,000 per month.

Key Features & Benefits

  • Meezan Digital Remittance Account is offered in PKR currency only, and can be opened in both current and savings category.
  • Instant account opening!
  • No Physical Documentary Requirements!
  • No initial deposit requirement
  • Maximum credit balance limit of PKR 3,000,000
  • Daily cash withdrawal limit of PKR 500,000
  • Daily fund transfer limit of PKR 500,000
  • Monthly local credit limit of PKR 1,000,000
  • Foreign remittance of personal nature allowed up to PKR 3,000,000 per month (Commercial remittance not allowed)
  • Profit paid on monthly basis and calculated on daily basis (applicable on Savings Account only)
  • Free Online banking
  • Free cheque book and pay orders
  • Free internet & Mobile banking

How does Meezan Digital Remittance Account work?

Meezan Digital Remittance Account is offered in both current & savings accounts under the Islamic concept of Qard & Mudarabah.

Profit Sharing Ratio

PKR Savings Account

Bank will share 50% of Gross Income as Mudarib
Depositor will share 50% of Gross Income as Rab-ul-Maal

Weightages
Weightages for the Month of April 2024
ProductsTier GroupsWeightage Assigned
Meezan Digi Remittance AccountMonthly0.66
Consolidated Weightages
Profit Rates
Profit Rates for the Month of March 2024
ProductsTenureProfit Assigned
Meezan Digi Remittance AccountMonthly18.17%
Profit Rates
Historical Profit Rates

Mudarabah Basis

On agreeing to become a Pak Rupee Account holder, the customer enters into a relationship based on Mudarabah with Meezan Bank. Under this relationship, the customer is an Investor (Rab-ul-Maal) and the Bank is the Manager (Mudarib) of the funds deposited by the customers. The Bank allocates the funds received from the customers to a deposit pool; funds from the pool are utilized to provide financing to customers under Islamic modes that include, but are not restricted to Murabaha, Ijarah, Istisna and Diminishing Musharakah.

Qard Basis

Current Account (Pak Rupee) is based on Qard contract. The Bank can use these funds for investment and other purposes. This account allows you the peace of mind of having your money safely deposited with a bank with the additional assurance that the Bank is not investing your money in activities that contravene Shariah principles.

Apply for a Meezan Digital Remittance Account today and enjoy Riba-free banking at its best

  • Download Meezan Digital app on your phone
  • Turn-on Location
  • Verify your mobile number via OTP
  • Input your ID (CNIC, etc.) details for verification
  • Provide your occupation details
  • Perform your Biometric verification
  • Capture a Live Selfie
  • Review your information and press submit button
  • And that’s it… Welcome to Meezan Bank!