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Meezan Bank Awarded as The Banker’s ‘Islamic Bank of the Year 2016’ – Pakistan

July 28th, 2016

Meezan Bank, Pakistan’s first and largest Islamic Bank has been awarded as the winner of ‘Pakistani Islamic Bank of the Year 2016’ by The Banker, a service from the Financial Times Ltd., London that provides economic and financial intelligence for the world’s financial sector.

Meezan Bank has been recognized for its success in promoting Islamic banking in the region and maintaining a strong market position throughout the year 2015. The Bank has been acting as a joint financial adviser to the Government of Pakistan for raising Shariah-compliant funds through Ijarah Sukuk and has played a key role in the launch of All Shares Islamic Index with the Karachi Stock Exchange (KSE). The Bank is also working on developing an Islamic benchmark rate, an Islamic long-term trade financing scheme and an Islamic discount window. These achievements and initiatives have reiterated the Bank’s leadership position in Pakistan’s Islamic banking industry in The Banker’s in-depth financial sector analysis.

On the retail side, Meezan Bank has been recognized for the launch of Meezan Upaisa- World’s first Islamic Branchless Banking service, launched in collaboration with Ufone, an Etisalat group company, for encouraging financial inclusion among those unable to access traditional banking channels in the country.

The Banker’s recognition of Meezan Bank’s culture of excellence and performance further upholds the Bank’s status as the leader of Islamic banking in Pakistan.

About The Banker

The Banker, a service from Financial Time Ltd. has been the trusted source of banking information since 1926. The Banker has navigated its way through 90 years of banking coverage from the Wall Street Crash of 1929 to the current financial crisis with the same reputation for accuracy, authority and integrity.

The Banker strives to stimulate and inform, offering an unparalleled outlook with a wide range of news, features, analysis and interviews, and in-depth coverage of all the key issues facing the financial sector. It offers an unrivalled combination of authoritative news, features, surveys and heavyweight interviews and is essential reading for CEOs, CFOs, corporate treasurers, central bank governors and financial regulators.

Its unique database of more than 5000 banks maps their financial strength and soundness via Tier 1 capital, their profitability and their performance versus their peers.The Banker is the key source of data and analysis for the industry.