Smart Remittance Wallet is a digital transformation for receiving home remittance in fast, secure and convenient manner. Smart Remittance Wallet is a unique wallet account with a saving facility. It allows our customers to receive remittance directly in their account and get free air time of PKR 2 against each dollar received. Smart Remittance Wallet also gives good profit rates on savings, with the flexibility to use the money at any time.
Biometric facility will also allow customers to withdraw cash from Meezan Bank branches. The Smart Remittance Wallet holder can keep balance up to PKR 1.5 million.
Terms and Conditions apply
Instant account opening via biometric
Receive remittance and get free airtime of Rs. 2 against each dollar
Cash withdrawal from any Meezan branch by biometric scanning
No requirement of minimum deposit
Maximum balance worth PKR 1.5 million allowed
Free internet and mobile banking services
No withholding tax on withdrawals
Monthly disbursement of profit
On agreeing to become a Smart Remittance Wallet holder, the customer enters into a relationship based on Mudarabah with Meezan Bank. Under this relationship, the customer is an Investor (Rab-ul-Maal) and the Bank is the Manager (Mudarib) of the funds deposited by the customers. The Bank allocates the funds received from the customers to a deposit pool and funds from the pool are utilized to provide financing to customers under Islamic modes that include, but are not restricted to Murabaha, Ijarah, Istisna and Diminishing Musharkah.
Bank will share 50% of Gross Income as Mudarib
Depositor will share 50% of Gross Income as Rab-ul-Maal
|Products||Tier Groups||Weightage Assigned|
|Smart Remittance Wallet||Monthly||0.64|
|Smart Remittance Wallet||Monthly||16.00%|
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