Meezan Bank has won the award of ‘Best Islamic Bank in Pakistan’ for 2014 from Islamic Finance News of REDmoney Group, Malaysia. The Islamic Finance News (IFN) Awards honors the best in the Islamic financial industry across the world and are among the most prestigious and recognized awards in the global Islamic financial markets.
In addition to the Best Islamic Bank in Pakistan award that has been conferred for the 9th time, Meezan Bank has also won Musharakah Deal of the Year award for advising and arranging short term Sukuk of PKR 2 billion for Lalpir Power Limited. This first of its kind Sukuk were innovatively structured on the basis of Musharaka (Shirkat-ul-Aqd). The introduction of the short-term Sukuk by Meezan Bank marks the opening of another much needed avenue for Islamic mutual funds which faces a scarcity of short-term tradable instruments.
Meezan Bank, the 8th largest bank in Pakistan in terms of branch network provides a complete range of Islamic banking products and services through a retail banking network of over 428 branches in 117 cities, supported by a countrywide network of 350 ATMs, Visa debit cards, a 24/7 Call Center and internet banking facility.
Meezan Bank has been consistently recognized as the Best Islamic bank in Pakistan by numerous local and international institutions including CFA Society – Pakistan, Asiamoney magazine – Hong Kong, Islamic Finance News – Malaysia, Global Finance magazine, New York and Asset AAA – Hong Kong. The Bank has also received “Best Research and Development in Islamic Finance 2013” award by Global Islamic Finance Awards (GIFA), London.