Meezan Bank has been awarded ‘Best Islamic Bank in Pakistan’ and ‘Best Islamic Trade Finance Bank in Pakistan’ by Asset Triple A Awards, Hong Kong. The Triple A Awards – an integrated multi-media company serving the community of leading corporate and financial decision makers in Asia since 1999 – recognizes Asia’s top financial institutions for excellence in the industry. It has a reputation for delivering authoritative unbiased coverage and independent research of Asia’s financial industry.
Meezan Bank was also awarded ‘Best Islamic Deal – Pakistan’ for arranging a syndicated Islamic finance facility for the Sui Southern Gas Company to fund the expansion of its transmission and distribution network. Seven leading financial institutions participated in the facility which was successfully closed at PKR 3 Billion in December 2010.
Meezan Bank’s subsidiary Al Meezan Investment Management (AMIM) was also awarded the ‘Best Islamic Asset Management House in Pakistan’.
The award brings to light a highly successful and record-breaking year for Meezan Bank, the only AA rated Islamic Bank in Pakistan. With a branch network of 223 branches in 63 cities across Pakistan, Meezan Bank continues to be the largest Islamic bank in Pakistan. The Bank demonstrated robust business growth in 2010, closing the year with a deposit figure of Rs. 131 billion, Import/Export business of Rs. 143 billion and a 61% growth in Net Income over the previous year.