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Meezan Bank launches “Meezan Business Plus”, a Mudarabah based Business Account

April 26th, 2010

Meezan Bank is pleased to launch Meezan Business Plus, a Mudarabah based business account which allows customers to conduct their banking transactions while availing a wide range of free services and value added features.

Meezan Business Plus is a unique business account that is based on the concept of Mudarabah and is a Shariah compliant solution of offering free services to the Business account holders as an alternative to the conventional banking current accounts (that are based on Qarz and offer free services related to a specific balance – hence linking the benefit of free services to the amount of loan/qarz and entering into the domain of Riba).

Meezan Business Plus offers accounts to Individuals, Sole Proprietorships, Partnerships and Limited Companies, with no minimum balance requirements and no restriction on withdrawals or number of transactions. The product offers free services including: Free Cheque books, Free Pay Orders, Free Visa Debit Card, Free Account Statements, Free Intercity clearing thru NIFT etc and other benefits for maintaining an average monthly balance of Rs. 100,000/-

By offering this product, Meezan Bank has brought convenience and flexibility to businessmen and has moved another step in the direction of achieving its Vision of making Islamic Banking the banking of first choice and also reflects strong Meezan Bank commitment to offer strict Shariah Compliance banking solutions.

Details on Meezan Business Plus