Kaula Lumpur, Malaysia: Meezan Bank has won the award of ‘Best Islamic Bank in Pakistan’ for 2013 from Islamic Finance News of REDmoney Group, Malaysia. The Bank has received this award for the 8th timeThe Islamic Finance News (IFN) Awards honor 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, Meezan Bank has also won the following awards:
• Pakistan Deal of the Year award for providing advisory services to the Government of Pakistan to enable it to raise funds in a purely Shariah-Compliant manner. The Bank was appointed as Joint Financial Advisor for Government of Pakistan – Rs. 43,018 million – Ijarah Sukuk.• Ijarah Deal of the Year award for Siemens Pakistan Engineering Company’s Rs. 200 million off-balance-sheet Lease facility. This was a unique structured transaction since it enabled this blue chip company in Pakistan to meet its objectives of improving its cash flows without leveraging its balance sheet.
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.