December 14th, 2011
We are pleased to inform our customers that effective 1st January 2012, monthly Profit on all Mudarabah based Savings Accounts and COIIs is expected to be credited to your account by the 7th working day of the month.
Customers who have chosen any other profit payment frequency (quarterly, annual etc.) profit is expected to be credited to your account on the 7th day of the month in which the profit payment falls due.
This change has been made in order to further improve the profit payment mechanism in line with the directives of the Shariah Supervisory Board.
If you need any further information or clarification in this matter, please feel free to contact your nearest Meezan Bank branch.