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Important Information For Meezan Bachat Account (MBA) Customers

August 19th, 2013

Meezan Bank is pleased to announce that as part of the Bank’s initiative to refine its deposit products and make them more customer friendly, the profit calculation mechanism of Mudarabah based Meezan Bachat Account will be revised w.e.f September 01, 2013 from the existing Hybrid system to the Daily Product Average Balance Method. Based on the above change, Withdrawal tier (Differential Tier) will also be removed. New product tiers will be as follows.

   Existing Tiers                                                              New Tiers

Amounts   Average Daily Product Amounts
Re. 1 – 24.99 K Re. 1 – 24.99 K
25K- 199.99 K 25K- 199.99 K
200 K – 499.99K 200 K – 499.99K
500 K –  5 M 500 K –  5 M
Above 5 M Above 5 M
Withdrawal (diff. Amt)

From September 1, 2013, Meezan Bank will calculate profit on MBA based on the Daily Product Average Balance Method (i.e. MBA customers will be eligible for profit on the respective tier corresponding to the day-end balance) as per the pre-assigned Profit Sharing Ratio and Weightages.