September 17, 2013: Meezan Bank, Pakistan’s first and largest Islamic Bank has been awarded ‘Best Islamic Bank in Pakistan’ for 2013 by Asiamoney magazine, Hong Kong. This is the fourth time and the third consecutive year that Meezan Bank has been recognized by Asiamoney for its excellence in Islamic Banking, with previous awards received for 2009, 2011 and 2012.
This prestigious award is conferred after an extensive research and analysis of Islamic financial institutions in the main markets of Asia and the Gulf States. Meezan Bank was awarded the ‘Best Islamic Bank’ in Pakistan for its commitment to quality, customer satisfaction, innovation and reliability.
Meezan Bank has also been consistently recognized as the Best Islamic Bank in Pakistan by numerous other local and international institutions, which is a testimony of the Banks commitment to excellence. These institutions include Islamic Finance News – Malaysia, Global Finance magazine, New York, Asset AAA – Hong Kong and CFA Association – Pakistan. The JCR-VIS Credit Rating Company Limited, an affiliate of Japan Credit Rating Agency, Japan has upgraded the Bank’s long-term entity rating to AA (Double A) from AA- (Double A minus) and short term rating at A1+ (A One Plus) with stable outlook. The short term rating of A1+ is the highest standard in short term rating. The rating indicates sound performance indicators of the Bank. Meezan Bank is the only Islamic bank with AA credit rating in the Islamic banking industry in Pakistan.