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.
Minimum investment amount- PKR 10,000,000/- or multiples thereof
24 hrs. notice for PKR 50 - 200M deposit 48 hrs. notice for 200M+ deposit
Deposits invested under a Mudarabah arrangement
A Checking Account only available for IFIs.
Profit will be calculated on daily product basis
Profit will be paid on monthly basis
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.
Bank will share 50% of Gross Income as Mudarib
Depositor will share 50% of Gross Income as Rab-ul-Maal
| Products | Tier Groups | Weightage Assigned |
|---|---|---|
| MIIDA | Re.1 - 499.99 M | 0.24 |
| MIIDA | 500 M & Above | 0.24 |
| MIIDA NBFI | Re.1 - 499.99 M | 0.24 |
| MIIDA NBFI | 500 M & Above | 0.24 |
| Products | Amount | Profit Assigned |
|---|---|---|
| MIIDA | Re.1 - 499.99 M | 3.45% |
| MIIDA | 500 M & Above | 3.45% |
| MIIDA NBFI | Re.1 - 499.99 M | 3.45% |
| MIIDA NBFI | 500 M & Above | 3.45% |
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 FormYou 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 BranchFill out the form below and you'll be guided about how you can open your new account.