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Tailored exclusively for Islamic Financial Institutions (IFIs)

The Meezan Islamic Institution Deposit Account (MIIDA) is a unique product, tailored exclusively for Islamic Financial Institutions (IFIs). With MIIDA, any IFI now has the opportunity to manage excess liquidity in an immediate and profitable manner by maintaining a checking account with Meezan Bank.

Meezan Islamic Institution Deposit Account (MIIDA) is for Islamic Financial Institutions only.

Key Features

Minimum Investment

Minimium Investment

Minimum investment amount- PKR 10,000,000/- or multiples thereof

Free Chequebook

Withdrawals

24 hrs. notice for PKR 50 - 200M deposit 48 hrs. notice for 200M+ deposit

Free Internet Banking

Mudarabah Agreement

Deposits invested under a Mudarabah arrangement

Free Internet Banking

IFIs

A Checking Account only available for IFIs.

Minimum Investment

Profit Calculation

Profit will be calculated on daily product basis

Free Chequebook

Profit Payment

Profit will be paid on monthly basis

How the MIIDA Account Works

Download Fatwa

MIIDA 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.

Profit Sharing Ratio

Bank will share 50% of Gross Income as Mudarib

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

Weightages for the Month of November 2018
Account Categories Profit Distribution Periods/Tier groups Weightage Assigned
Meezan Islamic Institution Deposit Account 1M-199.9M 0.57
Meezan Islamic Institution Deposit Account 200M-499.99M 0.57
Meezan Islamic Institution Deposit Account 500M & Above

0.57

Meezan Islamic Institution Deposit A/C - NBFI Less Than 250M 0.57
Meezan Islamic Institution Deposit A/C - NBFI 250M-499.99M 0.57
Meezan Islamic Institution Deposit A/C - NBFI 500M & Above 0.57
Consolidated Weightages
Profit Rates for the Month of October 2018
MIIDA - Tier (PKR) Profit Rates (% Per Annum)
Re. 1 to 199.9M 2.87%
200M to 499.99M 2.87%
500M & Above 2.87%
MIIDA NBFI - Tier (PKR) Profit Rates (% Per Annum)
Re. 1 to 249.99M 2.87%
250M to 499.99M -
500M to 749.99M -
750M to 999.99M -
1B to 1.99B -
2B to 2.99B -
3B & Above -
Historical Profit Rates

How to Apply for a Meezan Islamic Institution Deposit Account

Method 1.

Apply Online

Alhamdulillah, Meezan Bank is the first Bank in Pakistan that offers the facility of filling its Account Opening Form online.

Apply Online

Method 2.

Download, Print, Fill Form

PDF version of our printed Account Opening Form is also available for download. You can print the form, fill your details and submit it along with the required documents at your preferred branch.

Download Form

Method 3.

Visit a Branch

You may visit any branch of Meezan Bank and our staff will assist you in filling the printed Account Opening Form and opening your account.

Locate a Branch

Open your Islamic Institution Account Now!

Fill out the form below and you'll be guided about how you can open your new account.

Name *
Email
Phone Number *
City
Nearest branch