Meezan Bank awarded ‘Islamic Bank of the Year 2017’ – Pakistan by ‘The Banker magazine’

September 7th, 2017

The Banker, a prestigious publication of the Financial Times Ltd., London, has recognized Meezan Bank, Pakistan’s first and largest Islamic bank as the best ‘Islamic Bank of the Year 2017’ in Pakistan.

The award goes to the firm that has demonstrated excellence in its initiatives and achievements while providing viable financial solutions to its customers. Meezan Bank has been recognized for going from strength to strength in recent years and for focusing on a strategy deliberated on financial inclusion, effective cost management and product and service innovation. Through various initiatives, the Bank has played a pivotal role in accelerating the formalisation of the Pakistani economy, a factor that has made a significant contribution to the Bank’s recognition as the Best Islamic Bank for 2017.

In addition, Meezan Bank has also participated in a number of syndicated lending deals that have raised the profile of Islamic finance in Pakistan over the said period.  Lastly, Meezan Bank’s recognition also incorporates its role in benefiting Pakistan’s capital markets through its expertise in Shariah-compliant finance, particularly for providing re-composition services for the Pakistan Stock Exchange’s two Islamic indices – the All Share Islamic Index and Karachi Meezan Islamic 30 Index. The indices were launched with the assistance of Meezan Bank and it is the only lender in Pakistan to provide re-composition services.

The Banker’s recognition of Meezan Bank’s outstanding work and contributions further manifests our continuous commitment to strive for excellence in 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.