KARACHI, January 8, 2016 – Meezan Bank has been recognized as the global winner of ‘Best Islamic Retail Bank’ for 2015 by Islamic Finance News of REDmoney Group, Malaysia. In addition to this global award, Meezan Bank has also won the ‘Best Islamic Bank in Pakistan’, an award which has been conferred upon the Bank for the 10th time owing to its contributions to the Islamic finance industry.
Furthermore, Meezan Bank is also the runner-up for the award of ‘Best Overall Islamic Bank’ amongst all Islamic Banks of the world, winning 3rd position in this category for its strong performance and dedicated commitment towards the contribution of the Islamic banking industry.
The Bank has also been awarded ‘Pakistan Deal of the Year’ award for providing advisory services to K-Electric Limited – US$215 million – Retail Sukuk.
The Islamic Finance News (IFN) Awards honors 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. IFN conducts ‘Best Banks Poll’ every year to determine the Best Islamic Finance Institutions from around the world.
About Meezan Bank
Meezan Bank is the 7th largest bank in Pakistan and the leading Islamic bank of the country. The Bank provides a comprehensive range of Islamic banking products and services through a retail banking network of more than 550 branches in 143 cities supported by a countrywide network of over 400 ATMs, Visa and Mastercard Debit cards, a 24/7 Call Center, Internet Banking and Mobile Banking facility.
Meezan Bank has consistently been recognized as the Best Islamic Bank in Pakistan by numerous local and international institutions, which is a testimony of the Bank’s commitment to excellence. These institutions include Islamic Finance News – Malaysia, Global Finance magazine – New York, Asset AAA – Hong Kong, Asiamoney – Hong Kong, The Banker – United Kingdom and CFA Association – Pakistan.
The JCR-VIS Credit Rating Company Limited, an affiliate of Japan Credit Rating Agency, Japan has reaffirmed the Bank’s long-term entity rating of AA (Double A) and short-term rating at A1+ (A One Plus) with stable outlook. The rating indicates sound performance indicators of the Bank. Meezan Bank is the only Islamic bank with AA credit rating in the Islamic banking industry in Pakistan.