Meezan Bank to assist Ethical Finance Limited for establishing first Islamic commercial bank in Republic of Mauritius

November 28th, 2013

Meezan Bank, Pakistan’s first and largest Islamic Bank, has entered into an agreement with Ethical Finance Limited (EFL), a limited liability company set up by a team of professionals with the objective of setting up Republic of Mauritius’ first retail Islamic bank.

Under this Agreement, Meezan Bank will support EFL by sharing its expertise, knowledge & experience in the areas of Islamic banking product development, Shariah controls, training and other Shari’ah related technical services and support.

Mr. Irfan Siddiqui, President & CEO and Mr. Ariful Islam, Deputy CEO of Meezan Bank and Mr. Ismael I. Bahemia & Mr. Osman Rajack, Directors of Ethical Finance Limited signed the agreement on behalf of their respective organizations.

This agreement reiterates Meezan Bank’s commitment towards its Vision of establishing Islamic banking as banking of first choice. Previously, Meezan Bank has provided similar services to Amana Bank Sri Lanka in 2011 – 2012.