Meezan Teens Club Account is a Mudarabah- based relationship where you will be the Investor (Rab-ul-Maal) and the Bank will be the Manager (Mudarib). Your funds will be utilized by the Bank to provide Islamic financing to customers.
Meezan Bank is a keen Socially Responsible Organization and realizing this responsibility, the Teens Club Account aims to provide a forum to teens where their maturing minds are groomed in a modern yet Islamic way. The Teens Club Account provides a blend of fun learning with special focus on character and value building.
On agreeing to become a Meezan Teens Club Account 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; 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
|Account Categories||Profit Distribution Period||Tier Groups||Weightage Assigned|
|Meezan Teens Club Account||Monthly||-||0.60|
|Daily Product Basis (PKR)||Profit Rates (% per annum)|
PDF version of our printed Account Opening Form is also available for download. You can print the form, fill your details and submit it along with the required documents at your preferred branch.Download Form
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