Meezan Bank becomes the first Islamic Bank to Facilitate Dividend Payments and Tax Certificates electronically for its shareholders

April 26th, 2018

Meezan Bank, Pakistan’s first and largest Islamic bank, has now become the first Islamic Bank in the country to comply with Central Depository Company (CDC) Regulations regarding Centralized Cash Dividend Register as issued by the Securities and Exchange Commission of Pakistan (SECP). The Bank is therefore among the first in the country to offer a one window solution for e-Dividend payments for its shareholders covering a full range of electronic services.

The one window solution of e-Dividend payment covers a full range of electronic services and will now allow Meezan Bank’s shareholders safer, efficient, innovative and hassle-free services to view a retrievable record of their cash dividend payments, tax returns and history. Moreover, this facility will additionally support the investors for filing their tax returns through the provision of an electronic dividend/zakat and tax deduction report.

Meezan Bank is currently, the only Islamic bank in Pakistan to offer both dividend payments as well an alternate of the physical notice portion of dividend warrant (counter foil) tax certificate issuance to its shareholders electronically allowing them to access a comprehensive record of their dividend payments, tax and Zakat deduction certificates in electronic form. The Bank has previously introduced electronic dividend payment processing in the country for its corporate clients.

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