July 11th, 2011
Meezan Bank, Pakistan’s first and largest Islamic bank, has been awarded the Best Islamic Financial Institution in Pakistan by Global Finance magazine at its Annual Awards for the World’s Best Islamic Financial Institutions 2011.
The winners were judged on the basis of contributing to the growth of Islamic financing and successfully meeting customers’ needs for Shariah-compliant products and creating the foundation for continued fast growth in the future. All selections were made by the editors of Global Finance, after extensive consultations with bankers, corporate finance executives and analysts throughout the world. Other factors that were considered included growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products.
Subjective criteria included opinions of equity analysts, banking consultants and others involved in the industry. The mix of these factors yields leading banks that may not be the largest, oldest or the most diversified in a given country, but rather the best – the banks with which customers around the world would most likely want to do business.