Meezan Bank - Banking Products

INTRODUCTION :
Meezan Bank is publicly listed company, first incorporated on

January 27, 1997. It started operations as an Islamic investment bank in
August of the same year, which has been licensed by the “ State Bank of
Pakistan” to operate as an Islamic Commercial bank on 31 st January 2002.
State Bank of Pakistan granted the Nations first full-fleged commercial
banking license of Islamic Banking to Meezan bank Ltd. It was a new era
in banking Sector history in Pakistan that Meezan Bank Ltd adheres
strictly to the principles of Islamic Shariah with absolutely no
compromise, and is recognized as Pakistan’s truly premier Islamic Bank.
Meezan Bank is operating approximately more than 166 branches in 40
different cities.
In addition, the “State Bank of Pakistan” itself governs the
activities of Meezan Bank and its Shareholders. Meezan bank Ltd has
a strong Balance sheet with excellent operating profitability,
including a capital adequacy ratio that has placed the Bank at the top
of industry, a long-term entity rating of A+, and a short-term entity
rating of A1+.
Planning and managing the work efficiency is the key factor of the
Meezan Bank’s Managers.
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The Vision of Meezan bank is
“Establish Islamic
B a n k i n g A s b an k i n g
of F i r s t C h o i c e ” .
The Mission of Meezan bank is
“To Be A Premier Islamic
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Bank”.
Overview of the Organization
Brief History of the Organization

1947
The inception of Pakistan as the first Islamic Republic created in the name of Islam.
1980
CII presents report on the elimination of Markup genuinely considered to be the first
major comprehensive work in the world undertaken on Islamic banking and finance.
1985 Commercial banks transformed their nomenclature stating all Rupee Saving Accounts as
markup-free. However, foreign currency deposits in Pakistan and foreign loans continued as
before.
1991
Procedure adopted by banks in 1985 was declared un-Islamic by the Federal Shariat Court
(FSC). The Government and some banks/DFIs made appeals to the Shariat Appellate Bench
(SAB) of the Supreme Court of Pakistan.
1997
Al-Meezan Investment Bank is established with a mandate to pursue Islamic Banking.

Mr. Irfan Siddiqui appointed as first and founding Chief Executive Officer.
1999
The Shariat Appellate Bench of the Supreme Court of Pakistan rejects the appeals and directs all
laws on markup banking to cease. The government sets up a high level commission, task forces
and committees to institute and promote Islamic banking on parallel basis with conventional
system.
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2001
The Shariah Supervisory Board is established at Al-Meezan Investment Bank led by Justice (Retd.)
Muhammad Taqi Usmani as chairman. State Bank of Pakistan sets criteria for establishment of
Islamic commercial banks in private sector and subsidiaries and stand-alone branches by existing
commercial banks to conduct Islamic banking in the country.
2002
Meezan Bank acquires the Pakistan operations of Societe Generale and concurrently Al Meezan
Investment Bank converts itself into a full fledged Islamic commercial bank. The first Islamic
banking license is issued to the Bank and it is renamed Meezan Bank. President General Pervez
Musharraf inaugurates the new Islamic Commercial Bank at a formal ceremony in Karachi.
2003
Meezan Bank establishes itself as the pioneer of Islamic Banking in Pakistan and quickly
establishes branches in all major cities of the country. A wide range of products are developed
and launched consolidating the Bank’s position as the premier Islamic Bank of the country Al
Meezan Investment Management Limited (AMIM), the asset management arm of Meezan Bank,
introduces Meezan Islamic Fund (MIF), the country’s first open- end Islamic Mutual Fund.
2004
The State Bank establishes a dedicated Islamic Banking Department (IBD) by merging the
Islamic Economics Division of the Research Department with the Islamic Banking Division of
the Banking Policy Department. A Shariah Board has been appointed to regulate and approve
guidelines for the emerging Islamic Banking industry. The Government of Pakistan awards the
mandate for debut of international Sukuk (Bond) offering for USD 500 million. The offering is a
success and establishes a benchmark for Pakistan. Meezan Bank acts as the Shariah Structuring
Advisor for this historic transaction.
2005
Meezan Bank becomes the first customer of Islamic Insurance (Takaful) by signing the first
Memorandum of Understanding MoU with Pak-Kuwait Takaful Company Limited (PKTCL).
The signing of this MoU has ushered Pakistan into a new era of Islamic Insurance (Takaful).
2006
A number of new dedicated Islamic Banks, namely Bank Islami and Dubai Islamic Bank,
commence operations in Pakistan.Meezan continues its leadership position in the industry by
more than doubling it branch network to a total of 62 branches in 21 cities, clearly establishing
itself as the largest Islamic Bank of the country. Meezan Bank, becomes the first Islamic bank to
introduce 8 am to 8 pm banking at selected branches in Karachi.
2007
Meezan Bank opens up its 100th branch. Two new dedicated Islamic Banks start
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operations in Pakistan, namely Emirates Global Islamic Bank and Dawood Islamic Bank.
2008
With 166 Branches (including 35 sub-branches) in 40 cities across Pakistan, Meezan Bank is
clearly positioned as the leading Islamic Bank in the country. Work starts on the construction of
Meezan Bank’s new Head Office building.The financing and investment portfolio of local
Islamic banks reached Rs. 185 billion in December 2008 compared to Rs. 137.6 billion in
December 2007. Market share in the overall banking increased to five per cent at end December
2008 compared with four per cent at end December 2007. Total assets of Islamic banking
reached Rs. 271.1 billion in December 2008 compared to Rs. 205.2 billion in December 2007.
Shariah Board
Meezan Bank has a very high-caliber “Shariah Supervisory Board”,

comprises of internationally renowned Islamic Scholars. The “Shariah
Supervisory Board” regularly reviews the bank’s activities and approves
all new products. The bank also has a resident Shariah advisor. Dr.
Muhammad Imran Usmani, who monitors day-to-day transactions of the
bank. The Shariah Board comprises of the following members:
 Justice (Retd.) Muhammad Taqi Usmani (Pakistan)-Chairman.
 Dr. Abdul Sattar Abu Ghuddah (Saudi Arabia).
 Sheikh Essam M. Ishaq (Bahrain).
 Dr. Muhammad Imran Ashraf Usmani (Pakistan).
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Shar e H ol de r s i n Me e z an Bank
Share Holders of Meezan Bank are world-renowned financial
institution i-e:
 Pakistan Kuwait Investment Company (Pvt) Ltd.
 Shamil Bank of Bahrain E.C.
 Islamic Development Bank.
 KUWAIT Awqaf Public Foundation.
 Saudi-Pak Industrial & Agriculture Investment
Company (Pvt) Ltd.
Meezan Bank Head Office:
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Head Office of meezan bank is located at,
3rd Floor PNSC Building,
Moulvi Tameezuddin Khan Road Karachi,
Sindh, Pakistan.
Tel: (92-21) 5610582/5610679.
Fax: (92-21) 5610375.
www.meezanbank.com
24/7 Call Center 111-331-331.
Objectives
 To be a premier Islamic Bank.
 To fulfill the banking requirements of the customer according
to the Islam.
 To guide customers about different products, Bank policies &
requirements regarding different types of accounts.
 Assist first time customer in opening bank accounts.
 To promote the highest level of customer services and
responsiveness to customer base of the branch.
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 Intelligently access the needs and problems of the existing
customer and guide them in the best solution of their queries
and concern as per bank policies.
 To operate the accounts of such customers who earns HALAL &
Riba-free income.
 To represents the bank in professional manner.
 To facilitate the Customer to avail our services happily and
easily.
 Assure customer of a truly Halal absolutely Riba-free
investment.
Organizational Structure
As they already introduced Meezan bank Ltd (Garden West Branch

Karachi). So, the Branch is comprises of a Branch Manager, who reports to the
Area Manager about the work & performance of the branch employees. A
s e p a r a t e a r e a h a s b e e n s e t a s i d e f o r o p e r a ti o n s w h i c h a r e m o n i t o r b y a n
O p e r a ti o n Manager, who reports to Branch Manager about daily cash
t r a n s a c ti o n s , c l e a r a n c e , r e m i tt a n c e s & a c c o u n t s o p e n i n g . T h e r e a r e a l s o P B O
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( P e r s o n a l B a n k i n g O ffi c e r ) a n d B D O s ( B u s i n e s s D e v e l o p m e n t O ffi c e r s ) , w h o a r e
directly related to Branch Manager and reports him about customer
r e l a ti o n s h i p & s e r v i c e s p r o v i d e d t o t h e m , a n d a b o u t d e p o s i t s t a r g e t s o f
concerned bank.
Branch
Manager
Operation
Manager
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Chief Cash Cash Accounts
Officer Deposit opening Personal Liability
Officer Officer Sales
Banking
Officer
BDOs
Cash Sorter
Officer S
e
Clearing Remittance
Officer Officer
r
Accounts Offered by Meezan Bank Ltd on

Mudarabah basis.
Mudarabah:
 This is a kind of partnership where one partner gives money to
another for investing in a commercial enterprise.
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 The investment comes from the first partner who is called
“Rab-ul-Mal” (Investor).
 The management and work is an exclusive responsibility of the
other, who is called “Mudarib” (Working Partner).
 Profit is shared as per agreed ratio.
 In case of Mudarbah all losses are borne by Rab-ul-Mal.
Key Features:
 The Structure is based on the principle of Mudarabah and is
strictly in conformity with the rules of Islamic Shariah.
 It has been approved by the Shariah Supervisory Board of
Meezan Bank.
 On agreeing to become an account holder, the customer enters
into a relationship based on Mudarabah with Meezan Bank.
 Under this relationship:
- The Bank is the Manager (Mudarib) of the funds deposited
by the customers.
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- The Customer is an Investor (Rab-ul-Mal), and • The bank
allocates the funds received from the customers to a
deposit pool.
These funds from the pool are utilized to provide financing to
customers under Islamic modes that include, but are not restricted
to, Murabaha and Ijarah.
Profit Distribution Structure :
Source Investment Pool Investment/Financing
Depositors Murabah
Funds
Ijarah
Bank
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Profits Profits
The Gross Income will be shared between the bank (as Mudarib) and
Depositors (Rab-ul-Mal) in a predetermined ratio (%) of the actual
profit earned.
Meezan Bank Ltd offers different types of Accounts on
Mudarabah Basis. These are as under:
1. Rupee Current Accounts.
Meezan Bank is pleased to offer Riba-Free Current Account, a
flexible Rupee based account that is ideal for individuals and
businesses looking for Shariah compliant banking and
professionalism both under one roof.
The Meezan Bank Current Account, is a comprehensive Halal method
of acquiring a secure and easily maintainable Riba Free bank
account.
Bundled with 24/7 and special banking services, the Meezan Bank
Current Account is an innovative value added account which
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provides customers both ease of utility and unmatched service
quality.
Key features of the Riba -Free Current Account
 Instant access to funds at any online branch
 Free Real-time Online Banking Services across our branch
network nationwide
 Visa Debit Card
 Free 24/7 Internet Banking
 No restriction on withdrawals or number of transactions
 No deduction on low balance maintained
 Bank balance certificates & duplicate statements of account
 SMS Alerts service
 Stop Payment & Hold Mail instructions
 24/7 Call Center with complete Phone-banking services
 Personal financial consultancy services
 Specialized 8 to 8 Banking at selected branches
2. Rupee Saving Accounts.
A unique bank account that offers the opportunity to earn Halal
profits, while enjoying a range of added benefits. It can be opened
with a minimum amount of only Rs.10,000. The profit on this
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account is calculated and paid on a monthly basis, and comes with a
variety of free benefits, no restrictions on transactions, priority
banking and more.
Minimum amount required to open an account is Rs. 10,000
Riba Free COII Holders may open accounts without any minimum
balance requirements
Riba Free Rupee Saving Account works under the principles of
Mudarabah and is strictly in conformity with the rules of Islamic
Shariah. Profit calculation and all banking transactions are in strict
adherence to the Islamic Shariah, monitored by our Shariah Advisor
and the Shariah Supervisory Board
Key features
Apart from first class service and personalized attention that our
customers get when they bank with us, we offer the following
additional conveniences:
 Profit will be calculated on daily product basis
 Distribution of profit on monthly basis
 Instant access to funds at any online branch
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 Free Online Banking services at all Meezan Bank
branches nationwide
 No restriction on withdrawals or number of transactions
 Bank balance certificates & duplicate statements of account
 Stop Payment & Hold Mail instructions
 Visa Debit Card
Profit Rates are applicable for profit calculation on Daily
Product Basis for the month of May 2010
Checking Account Profit Rates (% per annum)
Daily Product Basis (PKR) 5.02%
3 . K M A ( K a r o b a r i M u n af a A c c o u n t s . )
Karobari Munafa is a high profit savings account specifically
tailored for large Corporate or GoP controlled entities. It allows
customers to earn higher returns on surplus cash balances. It has no
preset transaction limits and comes with a variety of free packaged
benefits.
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Key Features
Profit will be calculated on a Daily Product Basis
 Minimum balance requirement for account opening is Rs. 1
Million
 No restriction on deposits and withdrawals
 Free facilities: chequebooks and payorders
 Dedicated account / relationship manager
 The Karobari Munafa Account works under the principles of
Mudarabah and is strictly in conformity with the rules of
Islamic Shariah. Profit calculation and all banking transactions
are in strict adherence to the Islamic Shariah, monitored by our
Shariah Advisor and the Shariah Supervisory Board
Profit rates applicable for profit calculation on daily product
basis for the month of May 2010 (for KMA & KMA Plus both)
KAROBARI MUNAFA ACCOUNT
Daily Product Basis (PKR) Profit Rates (% per annum)
Re. 1 - 4.99 Million 5.02%
5 Million - 9.99 Million 5.93%
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200 Million and above 8.21%
KAROBARI MUNAFA ACCOUNT PLUS
Re. 1 - 4.99 Million 5.02%
10 Million - 49.99 Million

6.32%
50 Million - 99.99 Million -
500 llion and above -
4. MBA (Meezan Bachat Accounts).
Meezan Bachat Account is a unique saving account that provides
high monthly returns with the flexibility to withdraw savings if
needed. Thus Meezan Bachat Account offers a higher expected rate
of return with the convenience of a savings account.
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With a Meezan Bachat Account, customers are entitled for a higher
the profit with a higher account balance.Customers receive profit
even if your balance falls below Rs. 25,000/- in any month. Profit is
credited to customer account every month and is calculated with
reference to the minimum balance maintained in the account during
the preceding month.
The Riba-Free Meezan Bachat Account works under the principles of
Mudarabah and is strictly in conformity with the rules of Islamic
Shariah. Profit calculation and all banking transactions are in strict
adherence to the Islamic Shariah, monitored by our Shariah Advisor
and the Shariah Supervisory Board.
Key Features
Enjoy a range of valuable features including:
 Halal & High Competitive returns
 Profit payment on monthly basis open for individuals only
 Minimum balance for account opening is just Rs. 25,000/-
 Maximum balance limit for getting highest profit rate is Rs.
1,000,000/-
 Waiver of application fee for Car Ijarah & Easy Home for
accounts with minimum balance of Rs. 500,000
 Free Realtime Online Banking services at all Meezan Bank
branches nationwide
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 Free bank balance certificates
 Visa Debit Card
 24/7 Internet Banking – free and instant access to your
account(s) anytime & anywhere
 Personal financial consultancy services.
. Profit Rates are applicable for profit calculation on minimum
monthly balance for the month of May 2010. In addition to this, a
new profit weightage was assigned & will be applicable for any
amount withdrawn or deposited during the month over & above
the minimum monthly balance
1-24.999K 5.02%
25K-199.99K 5.74%
200K-499.99K 6.71%
500K-1M 7.89%
Above 1M 5.02%
*Withdrawal (Diff. Amount) 0.07%
*Average of withdrawal & deposit balances excluding minimum
balance of month
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5. US dollar saving account .
Meezan Bank is pleased to offer Riba-Free Dollar Saving Account, a
foreign-currency based investment opportunity that is set up on the
principles of Shariah and as a result is free from the element of
interest.
With a minimum of only $100 you can open a Dollar Saving Account
with us under a Mudarabah arrangement that is strictly in
conformity with the principles of Islamic Shariah. The return earned
on the Mudarabah pool is calculated every month and the profit ratio
for all
investors is declared at the beginning of the month. If customer
maintain a minimum average monthly balance of $ 500, customer
shall be eligible to receive profits that shall be credited to
customer’s account every month.
Additional Features
Apart from first class service and personalized attention that Meezan
bank customers get when they bank with us, Meezan Bank offer the
following additional conveniences to their customers:
 Monthly profit payment
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 No restriction on withdrawals or number of transactions.
 Taking stop payment instructions
 Taking hold mail instructions
 Issuance of duplicate statement of account
6. M e e z a n B u s i n e s s P l u s – M B P
Meezan Business Plus is a Mudaraba-based account that allows
customer to conduct your banking transactions while availing a wide
range of free services and therefore provides you the ideal blend of
convenience & flexibility that you deserve in Islamic banking.
Meezan Business Plus Account can be opened by:
 Individuals
 Sole Proprietorships
 Partnerships
 Limited Companies
Key features
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 Minimum investment required to open an account is Rs.
100,000/-
 There is no restriction on withdrawals or numbers of
transactions
 There is no deduction of service charges if the balance
maintained is low
 You will have instant access to your account both through
Internet Banking and through Online Banking at all branches
of Meezan Bank across Pakistan
The following facilities will be provided free of charge* if an
average monthly balance of Rs. 100,000/-is maintained in the
account
 Free Cheque books
 Free Pay Orders
 Free VISA Debit Card
 Free Account Statements
 Free Online Banking
 Free Internet Banking
 Free Hold Mail Facility
 Free SMS Alert services
 Free intercity clearing
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What makes Meezan Business Plus Shariah-compliant?
Meezan Business Plus Account works on the principle of Mudarabah
under which the customer is an Investor (Rab ul Maal), and the Bank
is the Manager (Mudarib) of the funds deposited by the customer.
The Bank allocates the funds received from the customers to a
Deposit pool. Funds in the pool are invested under Islamic modes of
finance that include, but are not restricted to, Murabaha, Sukuk and
Ijarah.
The Bank calculates the profit on the Deposit pool every month.
Gross income of the deposit pool is shared between the Bank
(Mudarib) and customers (Rab ul Maal) on the basis of a
predetermined profit-sharing ratio that is announced at the beginning
of each month and is available at Meezan Bank’s website
(www.meezanbank.com) or can be obtained from any branch of
Meezan Bank upon request.
In case of a loss, as per the rule of Mudarabah, the Rab-ul-Maal
shall bear the loss in the ratio of his investment
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Checking Account Profit Rates (% per annum)
7. M e e z a n I s l a m i c I n s t i t u t i on D e p o s i t A c c o u nt – M I I D A
The Meezan Islamic Institution Deposit Account (MIIDA) is a unique
product, tailored exclusively for Islamic Financial Institutions
(IFIs). With MIIDA, any IFI now has the opportunity to manage
excess liquidity in an immediate and profitable manner, by
maintaining a checking account with Meezan Bank.
Structure of MIIDA
All eligible Islamic Banks can enter into a Mudarabah relationship
with Meezan Bank. Under this relationship, the respective Islamic
Banks are the Investors (Rab ul Maal), and Meezan Bank is the
Manager (Mudaarib) of the funds deposited by them. Meezan Bank
allocates the funds received from the Islamic Banks to a deposit pool
consisting of financing under Islamic modes that includes, but is not
restricted to, Murabaha and Ijarah.
The Banks profit sharing ratio is 50% of Gross Income and
Depositors profit sharing ratio is 50% of Gross Income, calculated
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after deducting costs and expenses directly incurred in deriving that
Income. The weightages are available on this website or can also be
Obtained upon request. The Bank, at the time of profit declaration,
at its sole discretion may give additional profit to depositors from
its own profit share. In the case of a loss, and as per the rules of
Mudarabah, the deposit pool shall bear the loss on a appropriate
basis.
Key Features
The features and mechanics of the product are detailed below
providing a ready-made solution ensuring high returns, easy
accessibility, total stability, and absolute Shariah compliance.
 A Checking Account only available for IFIs.
 Deposits invested under a Mudarabah arrangement
 Minimum investment amount- PKR 10,000,000/- or multiples
thereof
 Maximum investment amount – PKR 1 billion
 Withdrawals of funds :
 24 hrs. notice for PKR 50 - 200M deposit
 48 hrs. notice for 200M+ deposit
 Profit disbursed on a monthly basis
 Profit calculated on daily product basis
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Profit Rates are applicable for profit calculation on daily product
basis for the month of May 2010
Amount Tier (PKR) Profit Rates (% per annum)
10 million to 199.99 million 5.67%
200 million to 399.99 million 6.65%
Above 400 million 7.17%
8. L a b b a i k S a v i n g A a s a a n – L SA
Meezan Labbaik is a completely Halal & Riba Free Hajj & Umrah
product.
Keeping your convenience in mind, Meezan Bank Umrah Scheme has
been launched in collaboration with renowned Travel Agents. Meezan
Bank is acting as sales & funds collecting agent of the Travel
Agents.
The Travel Agents currently on Meezan Bank's panel are:
 Universal Brothers
 Universal Express
 Oasis Travels
 More Travel Agents may be added on the panel from time to
time.
 Labbaik Travel Aasaan
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Labbaik Travel Aasaan is ideal for customer & customer’s family if
customer wish to perform Umrah now with the convenience of
relying on customer’s selected Travel Agent for all travel and Umrah
arrangements.
Salient Features of the Labbaik Umrah Package
 Renowned Travel Agent’s on Meezan bank panel
 Packages for different durations & facilities are available
 Complete Visa Processing by selected Travel Agent
 Confirmed return airline tickets on any airline
 Complete accommodation in hotels in Haram
 Special Meet & Assist services at airport
 Installment plan available from Meezan Bank
Non-Checking Account Profit Rates (% per annum)
T h e s e a l l c u r r e n t an d s a v i n g a c c o u nt s c a n b e o p e n e d i n a n y
c a t e g o r y o f t h e f o l l o w i n g t y p e s of a c c o u n t s .
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• Individual Accounts
• Joint Accounts
• Minor Account
• Sole Proprietorship Accounts
• Illiterate Customer Account
• Partnership Accounts
• Limited Liability Companies Accounts
• Associations, Committee, Societies or Club Accounts etc.
• Non-Resident Rupees Account
• Trust Accounts (with prior permission from the HO)
.Executors, Administrators Accounts (with prior permission
from the HO)
• Local Bodies Accounts.
• Special Convertible Rupees Account (SCRA)
• Staff Accounts.
1. Individual Accounts.
Accounts of Individuals, who are resident or non-resident, are to
be opened under this category
2. Joint Accounts.
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Joint Account is an account in the names of two or more persons
(other than Partners or Trustees). In this regard it to be ensured that:
• The “Survivorship Mandate” is signed by all the parties to the account
and instructions for the operation of account are clearly stated and filled
in the Mandate.
• In case of death, cheques signed by DECEASED Account Holder
presented for payment will not be entertained and therefore must be
returned.
• When the balance of Joint Account is repayable to either party or
survivor, the Specimen Signature Card should be marked to effect the
arrangement.
3. Minor Account
A person who has not attained the age of 18 years is minor.
However, incase Court has appointed a Guardian for the property of
a Minor, and then the period of his / her maturity extends to the age
of 21
4. Sole Proprietorship Accounts.
A formally stamped written request on the official Letter Head
of the Business / Firm of the Sole Proprietor in order to open a Sole
Proprietor Account must be submitted along with AOF
(Accounts Opening Form).
This request for opening of a Sole Proprietorship Account should
comprise the following clause:
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"I am a Sole Proprietor of the Firm and as such, I am entirely
responsible for all transactions carried out in the name of the
Firm and I am personally liable for any overdraft or other
obligations arising in or in connection with this account and the
Bank is hereby authorized to debit the account with commission
and / or other “.
Banking charges and expenses incurred in connection with this
account”.
Additional care must be taken while opening of sole proprietor
account. Beside other documents the customer should be ask to
produce the original NTN (National Tax Number) certificate issued
to his name in the capacity as sole proprietor of said firm.
5. Illiterate Customer Account.

These types of accounts are opened only for those persons who are
illiterate. This account is also known as “PHOTO ACCOUNT”, that during
opening this account we paste the current passport size photographs with
AOF (Accounts Opening Form). Illiterate person could only open Saving
Accounts. Furthermore, all withdrawals undertaken by illiterate Customers
must be witnessed by two Bank officials and countersigned by Manager
Operation
6. Partnership Accounts.
Partnership is an association of two or more persons who have
agreed to share profits of a business carried on by all or by any one of
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them acting for all. The terms and conditions must be spelled out in the
“Partnership Deed” formally agreed upon among Partners by incorporating
the same in the Deed.
It should be ensured that:

 Accounts of only Registered Partnership concerns will be opened
and the “Partnership Deed” will be obtained and critically reviewed.
 The AOF must be signed by all the Partners in their capacity as
individuals and not as member of the Partnership
 The signing and delegation of powers of those authorized to operate
the account should be clearly stated on the AOF documentation in
accordance with Partnership Deed

7 . L i m i t e d L i a b i l i t i e s C om p a n y A c c o u n t s .
There are two types of Limited Companies i.e., Public Limited and
Private Limited. The Public and Private Limited Companies are both
incorporated and governed under the provisions of Companies Ordinance
1984.
A Limited Liability Company may open an account with the Bank only if
it is authorized to do so by a resolution of the Board of Directors of the
company.
Furthermore, such resolution must specify the titles / designation of the
officials authorized to open and operate the account, the extent of their
authority and the manner in which the account will be operated.
8. Associations, Committee, Societies or Club Accounts etc .

An Association, Committee, Society or Club may open an account
with the Bank only if authorized to do so by the Governing Body of the
said Association / Committee / Society or Club.
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Account of the Association, Committee, Society or Club should not be
allowed to be overdrawn. No cheques drawn on the accounts of
Association, Committee, Society or Club shall be collected for the credit
of personal / private accounts of any of the Office-Bearers of Association,
Committee, Society or Club.
9. Non-Residential Rupees Account.

Accounts of Individuals, Firms or Companies who are resident in
countries outside Pakistan and all nationals of Pakistan and persons
domiciled in Pakistan, who visit abroad for the purpose of employment,
study and business etc., are treated as Non-residents as long as they
remain outside Pakistan. Accounts of all foreign nationals who are
resident in Pakistan may be treated as
Resident Accounts.
10. Trust Accounts.

A Trust Account maybe opened exceptionally with the prior approval
of Head of Operations. Trust account may only be open for parties whose
integrity and standing is beyond any doubt. Before sending the to HO
(Head Office) BM (Branch Manager) and MO (Manager Operation) will go
through the “Trust Deed” to ensure that no undue onus is placed on the
Bank.
11. Executors and Administrators Accounts .

Executors and Administrators Accounts shall only be opened with
the prior permission from the HO. Moreover, whenever application for the
opening of Executors and Administrators account is received, the matter
33
should be referred to the Regional Manager who will forward the full
details of the matter to HO for guidance and permission to open such
account. No Executor and Administrator will be allowed to transfer the
fund from the account to their personal accounts.
12. Local Bodies Accounts .

City Governments, Municipalities, District Boards, Development
Bodies etc are included in Local bodies. Functions and powers of these
Local Bodies are governed by the relevant Local Acts and Rules / Byelaws
made in accordance with such Act. These Local Bodies are regarded as
desirable Customers because they have substantial amount of funds at
their disposal. However, operations on these accounts must be conducted
strictly in accordance with the statutory rules and regulations.
13. Special Convertible Rupees Account (SCRA).

As per the Foreign Exchange Manual Chapter 20, SCRA can be open
by Nonresidents for the purpose to trade in the shares quoted on the Stock
Exchanges in Pakistan. Such accounts can be fed by remittances from
abroad or by transfer from a foreign currency account maintained by the
non-resident investor in Pakistan. The balance available there in can be
used for purchase of any share quoted on the Stock Exchange. Branches
will be required to submit weekly statement in the prescribed Performa

(V-92) of FE- Manual showing the position in respect of SCRA accounts
as on each Saturday.
1 4 . S t af f A c c o u n t s .
Staffs can open only one saving or current account singly or jointly
with his / her spouse at the time of appointment in the respective branch
34
of Meezan Bank Limited. The account will be opened for the purpose of
salary disbursement (like salary, bonus, increments, allowance or any
form of reimbursement from Meezan Bank Limited against services
rendered by employee.
Documentation of Opening an Account .

1. Individual accounts :
1. Copy of CNIC.
2. Any proof of Income (salary slip/ NTN).
3. Any Utility Bill (for Address Verification).
2. Proprietorship Account :
1. Copy of CNIC.
2. Proof of proprietorship (NTN Certificate).
3. Account Opening Request & Proprietorship letter on Firms Letter
Head.
4. Any Utility Bill (for Address Verification).
3. Minor Account:
1. Copy of CNIC of Guardian.
2. Copy of Birth Certificate.
3. CNIC copy of Guardian.
4. Partnership Accounts:
1. Registered Partnership Deed (Certified Copy).
2. Letter of Authority & Mandate.
3. Copies of CNICs of all partners.
4. Account opening Request Letter on firm’s Letter Head
35
5 . L i m i t e d C om p a n y :
1. Copy of Certificate of Incorporation.
2. List of Directors.
3. Memorandum & Articles of Association.
4. Board Resolution.
5. Certificate of Commencement of Business (for Public Ltd. Co.).
6. Copies of CNICs of all Directors/Signatories.
7. Latest copy of certified Form-29.
6 . C l u b / S o c i e t y/ A s s o c i a t i o n :
1. Copy of Rules/By-Laws.
2. Copy of Registration (if applicable)
3. List of executive Member/Management Committee/Management Board
etc.
4. Certified Copy of Resolution.
5. CNICs of all Members of Management Body & Signatories.
6. Undertakings to immediate inform the bank in writing about any
changes in Management Committee/ Authorized persons.
NOTE:
 These all documents are required original, bank itself get
the photocopy of these documents.
H o u s e w i v e s / S t u d e n t s / R e ti r e d P e r s o n a l : D o c u m e n t s a s r e q u e s t e d b y b r a n c h .
36
CONSUMER BANKING PRODUCTS OFFERS BY MEEZAN
BANK LTD. ON MUSHARAKAH BASIS.
Musharakah:
Musharakah is the type of Partnership in which both the

partners invest equally, and share their profit & losses equally.
DIFFERENCE B/W MUSHARAKAH & MUDARABAH .
Musharakah:
 In Musharakah both parties invest.
 Both parties work.
 In Musharakah the profit and losses shared equally.
Mudarabah:
 In Mudarabah one party invest (Rab-ul-Mal) and other party
work (Mudarib).
 Profit is shared as per agreed ratio.
 In case of Mudarabah all losses are borne by Rab-ul- Mal .
37
CONSUMER BANKING PRODUCTS
Consumer Banking Products are:
1. Murabah
2. Car Ijarah
3. Easy Home
1. MEEZAN BANK MURABAH.
Murabah is the type of short term financing in which Bank is the

owner of product and purchase that for the customer. Like other
banks Meezan bank is not providing the loan to the customer, but if
they need any type of product like Machinery etc for his use. Bank
has no expertise, so banks make the agent to that person, he will buy
himself and then hand it over to the bank. Then bank will give him
on cost plus profit. If during buying any type of sudden accident
occurs, the whole loss will be borne by the bank because the bank is
owner of that material.
2. MEEZAN BANK CAR IJARAH.
Car Ijarah is Pakistan’s first “Interest Free” car financing based on

Islamic financing mode of Ijarah or Islamic leasing. This product is
ideal for interest averse individuals, looking for a car financing that
provides the convenience of a well designed product while avoiding
an interest based transaction.
Car Ijarah is simply a rental agreement under which the car will be
given to the customer on rent for a period, agreed at the time of the
38
contract. Meezan Bank purchases the car and rents it out to the
customer for a period of 3, 4 or 5 years. Upon completion of the
lease period he customer gets ownership of the car against his initial
security deposit.
Car Ijarah is unique and is approved by Meezan Banks Shariah Board
Car Ijarah, designed under the supervision of Meezan Banks Shariah
Supervisory Board, is unique to car leasing facilities provided by
other banks. Rights & liabilities of Owner v/s User
An Islamic Ijarah is an asset-based contract, i.e. the Lessor should
have ownership of the asset during the period of the contract. Under
Islamic Shariah, all ownership related rights and liabilities should
lie with the owner while all usage-related rights and liabilities
should lie with the user. A conventional lease contract does not
distinguish between the nature of these liabilities and places all
liabilities on the user of the asset, contradictory to Islamic Shariah.
Under Ijarah, all ownership-related risks lie with the Bank while all
usage related risks lie with the user, thus making the Lessor the true
owner of the asset and making the income generated through the
contract permissible (Halal) for the Bank
 Car Ijarah, Pakistan’s First Islamic Car Financing
As a step towards Meezan Bank’s mission to provide a one-stop shop for innovative
value added Shariah compliant products, Meezan Bank’s Car Ijarah unit provides a car
financing, based on the principles of Ijarah and is free of the element of interest.
Car Ijarah is Pakistan’s first Interest Free car financing based on the Islamic financing
mode of Ijarah (Islamic leasing). This product is ideal for individuals looking for car
financing while avoiding an interest-based transaction.
Meezan Bank’ Car Ijarah is a car rental agreement, under which the Bank purchases the
car and rents it out to the customer for a period of 3 to 5 years, agreed at the time of the
contract. Upon completion of the lease period the customer gets ownership of the car
against his initial security deposit.
 What makes Car Ijarah unique?
39
Some of the key characteristics of Car Ijarah are as follows
 Car Ijarah also features Used Vehicles!
In addition to our leasing of new cars, Meezan Bank also provides the unique opportunity
of leasing second hand, both locally assembled and imported vehicles. This feature is
specifically designed as a highly economical option. The Used Car Ijarah facility is made
available at a minimum-security deposit as low as 20%. Financing of used cars are
subject to a selection criteria.
Used car selection criteria:
In addition to our leasing of new cars, Meezan Bank also provides the unique opportunity of
leasing second hand, both locally assembled and imported vehicles. This feature is specifically
designed as a highly economical option. The Used Car Ijarah facility is made available at a
minimum-security deposit as low as 20%. Financing of used cars are subject to the following
Selection Criteria.
 The second hand car selected should not be more then twice registered.
 The vehicle should not be older than 5 years.
 The minimum security deposit for a vehicle up to 2 years of age is 20%, while minimum security
deposit for a vehicle over 2 years of age is 30%.
 At the time of maturity of Ijarah agreement, the vehicle should not be more than 8 years old.
This means that if a car is 5 years old, the Car Ijarah tenure is not more than 3 years and if its 4
years old, the tenure may be set for a maximum 4-year term.
Second hand vehicles selected should not be worth more than Rs. 1.5 million and less
than Rs. 250,000/-. Meezan Bank will have the vehicle valued by an independent
valuation company accordingly.
Some points to ensure about selection:
 Shariah Compliance
Car Ijarah, designed under the supervision of Meezan Banks Shariah Supervisory Board, is
unique to car leasing facilities provided by other banks.
i. Difference in the Rights & Liabilities of Owner v/s User

ii. Continuation of lease rentals in case of total loss or theft of vehicle
40
iii. Takkaful instead of Insurance
iv. Permissibility for Penalty of Late Payment of Rent under Islamic Shariah
Car Ijarah, designed under the supervision of Meezan Banks Shariah Supervisory Board, is unique to car
leasing facilities provided by other banks.
← Rights & liabilities of Owner v/s User
An Islamic Ijarah is an asset-based contract, i.e. the Lessor should have ownership of the asset
during the period of the contract. Under Islamic Shariah, all ownership related rights and
liabilities should lie with the owner while all usage-related rights and liabilities should lie with
the user. A conventional lease contract does not distinguish between the nature of these liabilities
and places all liabilities on the user of the asset, contradictory to Islamic Shariah.
Under Ijarah, all ownership-related risks lie with the Bank while all usage related risks lie with
the user, thus making the Lessor the true owner of the asset and making the income generated
through the contract permissible (Halal) for the Bank.
←
Continuation of lease rentals in case of total loss or theft of vehicle
If the leased vehicle is stolen or completely destroyed, the conventional leasing company
continues charging the lease rent till the settlement of the Insurance claim. Under the Islamic
system, rent is consideration for usage of the leased asset, and if the asset has been stolen or
destroyed, the concept of rental becomes void. As such, in the above-mentioned eventualities,
Meezan bank does not charge the lease rental.
← Takaful instead of Insurance
Legally (in accordance to Pakistan’s Law and Regulations), it is required for all leasing entities
to insure the leased assets. As such, Meezan Bank insures its leased assets. Meezan Bank insured
its assets through Takaful only, which is Islamic product for insurance.
← Permissibility for Penalty of Late Payment of Rent under Islamic Shariah
In most contemporary financial leases, an extra monetary amount is charged, in their income, if
the rent is not paid on time. This extra amount is the considered as Riba and is Haram. Under
Ijarah, the Lessee may be asked to undertake, that if he fails to pay rent on its due date, he will
pay certain amount to a charity, which will be administered through the Islamic Bank. For this
41
purpose the bank maintains a charity fund where such amounts may be credited and disbursed
for charitable purpose.
 Key Features of Car Ijarah

 No application fee
 Ease of acquiring any new l9ocally assembled car
 No upfront insurance/Takaful Payment
 No advance Rental
 Available in tenures of 3, 4 and 5 years
 Minimum-security deposit as low as 15%
 Low monthly rental
 Rental paid after delivery, not in advanced
 Fastest processing and delivery
 Tracker option available
 Minimum security deposit as low as 10%*
 All new, used, local, imported and luxury vehicles can be financed
All new, used, local, imported and luxury vehicles can be financed
* Conditions apply
 Rental Calculations
42
For information on calculation of monthly rentals contact use our Car Ijarah Calculator or call
our 24/7 Call center.
 Apply for Car Ijarah!
To apply for Meezan Bank’s Car Ijarah, fill out a customer application form (available at any
Meezan Bank Ltd. Branch), attach the required documents and get your financing approved in a
1-2 working days.
For further details make an appointment with an officer or call our 24/7 Call center.
 Approved by Meezan Bank’s Shariah Board
Car Ijarah is designed under the supervision of Meezan Bank’s

Shariah Supervisory Board and is approved by the Board.
 Schedule of Charges:
 Domestic Vehicles-New
 Domestic Vehicles-Used
 Imported Vehicles
 Commercial Vehicles
 Out Station Verification Charges
Domestic Vehicles
New Vehicles
Cost of Vehicle Charges Amount (PKR)
Less than 1.00 million (999,999/-) Processing 4,000/-
43
Greater than 1.00 million Processing
5,000/-
Domestic Vehicles
Used / Imported Vehicles
Valuation 1,500/-
Total 4,500/-
Between 1.00 million & 1.5 million Processing

4,000/-
Valuation 1,500/-
Total 5,500/-
Note: Valuation changes for vehicle greater than 1.5 million will be charged at actual. Processing charges will
remain unchanged.
Commercial Vehicles
New Vehicles
44

Out Station verification charges
Rs. 500/- to 1,000/- depending upon the distance
Rental Calculations
To calculate the monthly rentals simply multiply the cost of the

car with the rental factors given in the table below
Rental Calculation for new cars
Security 3 years 4 years 5 years
Deposit
10% 0.033988 0.028131 0.025341
15% 0.032303 0.026765 0.024125
20% 0.030619 0.025398 0.022909
25% 0.028934 0.024032 0.021693
30% 0.027249 0.022666 0.020478
35% 0.025565 0.021299 0.019262
40% 0.023880 0.019933 0.018046
45% 0.022195 0.018567 0.016830
50% 0.020511 0.017200 0.015614
For example: if you are interested in a car costing Rs.300,000
for a tenure of 5 years and are willing to pay a 50% Security
Deposit, your monthly rental would be,
45
Rs. 300,000 X 0.015614 = Rs. 4,84/- per month for 5 years
(** All other costs will be charged at actual)
Rental Calculation for used cars
Security 3 years 4 years 5 years
Deposit
15% 0.032519 0.026990 0.024364
20% 0.030823 0.025611 0.023135
25% 0.029126 0.024232 0.021906
30% 0.027429 0.022853 0.020676
35% 0.024572 0.021474 0.019447
40% 0.024036 0.020095 0.018218
45% 0.022339 0.018716 0.016989
50% 0.020642 0.017338 0.015760
For example: If you are interested in a car costing Rs. 300,000 for
tenure of 5 years
And are willing to pay a 50% Security Deposit, your total monthly
rental would be:
Rs. 300,000 X 0.015760 = Rs. 4,728 per month for 5 years
46
(** All other costs will be charged at actual)
 How can I apply?
Simple! All you need to do is fill out a customer application form,
attach the required documents mentioned in the form and get your
financing approved in a 1-2 working days. To experience the comfort
of our personalized services just visit your nearest Meezan Bank
Branch.
SOME GENERAL INFO ABOUT CAR IJARAH
Does Meezan Bank use Takaful or conventional insurance to
insure its vehicles?
MBL is insuring its Car Ijarah vehicles through Takaful

arrangement with Pak Kuwait Takaful Company, Pakistan’s first
Takaful provider. These company has started operations in Karachi
and Car Ijarah vehicles of Karachi are now being covered through
Takaful. As the operations of Pak Kuwait Takaful expand into other
cities of Pakistan, Car Ijarah vehicles in other cities will also be
47
insured through Takaful. MBL’s present insurance arrangement will
be available for cities where Takaful is not presently available since
Leased assets are required to be insured under the law. However,
Meezan Bank’s Ijarah arrangement clearly states that Meezan Bank
will use conventional Insurance only as long as Takaful is not
available, and we are now clearly on the road to having all our Car
Ijarah vehicles insured through Takaful.
FATWA ON CAR IJARAH:
NEW AND USED CAR FINANCING
48
3. MEEZAN BANK EASY HOME (HOUSE FINANCING):
49
Easy Home is Pakistan’s first totally Shariah-compliant Home Finance facility! One that is
comprehensive, affordable, and totally hassle-free. For at Meezan Bank, we are committed to
meeting our customers’ needs, in a truly Shariah-compliant manner coupled with dedicated
service excellence.
 Why is Halal home finance so important to you?
Owning your own home is one of life’s most important achievements. It represents your security,
stability, and is a great blessing in itself. It provides that all-important safety and comfort for you
and your loved ones.
However, in today's often unpredictable and costly environment, saving the required money can
take a lifetime in itself. Rising property prices, taxes, inflation, currency devaluation… it’s all a
very hard bargain. On the other hand, owning your own home and paying an easy installment,
which takes you step by step towards complete ownership, is so much better than paying rent
which ultimately only adds to your expenses.
Added to that is your desire to stay away from interest based financing and be totally riba-free,
thus achie-ving that complete inner satisfaction and peace of mind. Why not have the best of
both worlds? Isn't that what you are working so hard for anyway?
 Islamic Financing on a Diminishing Musharakah basis
With Easy Home you participate with Meezan Bank in a joint ownership of your property, where
the Bank will provide a certain amount of financing (usually up to 80%). You agree to a monthly
payment to the bank of which a component is for the use of the home, and another for your
equity share. In fact, the total monthly payment is reduced regularly as your share in the property
grows. When you have made the full investment, which had been agreed upon, you become the
sole owner with a free and clear title to the property.
 What specifically makes Easy Home Shariah compliant?
As a Diminishing Musharakah it conforms to Shariah laws specifically related to financing,

ownership and trade. Taking ownership through a partnership and then transferring complete
ownership to the consumer instead of simply lending money is the major factor that makes our
product Shariah compliant. The nature of the contract is a co-ownership and not a loan because
the transaction is not based on the lending and borrowing of money but on the joint ownership of
an asset. Meezan Bank shares in the cost of the asset being purchased, for example in the case of
buying a home. In conventional mortgages the interest charged is a mark-up on the money lent.
The profit charged by Meezan Bank is the utilization payment for your use of our share
throughout the life of the contract. Your payments to Meezan Bank are completely riba-free.
50
 Why is the profit margin charged by Meezan Bank correlated to the conventional
mortgage market trends?
At Meezan Bank, the profit margin is directly correlated to market trends to provide a
competitive product to our customers. Shariah allows the use of any conventional market factor
as a benchmark to determine the profit rate of a particular product. The mere fact that the applied
profit rate of our product is based on similar factors used in determining the applied rate of
interest of a mortgage does not render the transaction or the contract invalid from the Shariah
perspective, and neither does it make the transaction an interest-bearing one. On the other hand,
it is the underlying structure of the product that determines its Shariah compliance.
 Shariah Supervisory Board
The letter and spirit of Islamic Banking rest upon absolute adherence to the Shariah. The
foundations of a strong Shariah underpinning at Meezan Bank were laid from the beginning. A
world renowned Shariah Supervisory Board and a highly qualified and experienced in house
Shariah Advisor are fundamental aspects of the Bank's core USP. The primary role of this board
is to maintain and further strengthen this commitment and to ensure strict Shariah compliance in
all the Bank's operations.
The members of the Shariah Supervisory Board of Meezan Bank are Internationally-renowned
scholars, serving on the boards of many Islamic banks operating in different countries.
The members of the Board are:
← Justice (Retd.) Muhammad Taqi Usmani (Chairman)
← Dr. Abdul Sattar Abu Ghuddah
← Sheikh Essam M. Ishaq
← Dr. Muhammad Imran Ashraf Usmani (Advisor)
 Payment Plan
Step-up Model
The Step-up Payment plan is introduced for customers who intend to avail maximum financing
51
facility with lower installments. The step up model is based on Shariah Compliant structure of
Diminishing Musharakah. In this model, the bank’s share s divided into more Musharakah units
and in the initial half of the facility tenure, the customer purchases one Musharakah unit from
bank every month and in the later half of the facility tenure, the customer purchases two
Musharakah units from bank every month. Thus the monthly installment during initial years is
comparatively lower which is easily affordable. This model is a Shariah Compliant Alternative
available to the customers who wish to avail maximum financing facility from bank.
UMI Model
Easy Home is structured under the concept of diminishing Musharakah where Meezan Bank and
Customer enter into a Musharakah Agreement whereby both the parties provide their
investments to be utilized for the purposes of purchase/construct/renovate the property. The Joint
ownership is created in the property between Bank & customer by virtue of the Musharakah
agreement. (This is based on the principle of Shirkat ul Milk) Bank’s share is divided into units
and is given to the client on rent and Client promises to purchase Bank’s share (units) over the
tenure of transaction Client purchases the units every month and will eventually become the
owner of the property. Rental amount is adjusted according to the bank’s share (units) remaining
in the property. In UMI , the Musharakah unit price remains constant through out the financing
period.
Maximum Financing Tenure
Now you can avail financing facility for maximum up to 25 years period.
 EASY HOME PRODUCTS
Buy, Build, Renovate, or Replace!
a. Buying a Home is Easy & Halal!

Easy Buyer — Choose it and get ready to move in!
Features:
← Flexible financing from PKR 300,000/- to PKR 40 million for

Salaried, SEP, NRP Customers and from PKR 300,000/- to PKR
5 Million for Businessman Customer.
← Easy selection of financing tenure from 3 years to 20 years
Bank Investment Ratio (BIR)
← Up to 70% for Salaried / SEP / NRP.

← Up to 60% for Businesspersons.
← No restriction on early unit purchase / early termination
52
b. Building a home is Easy & Halal!
Easy Builder — For that special home you want to build!
Easy Builder is a comprehensive proposition that contains:
1. Residential construction on applicant’s owned land
2. Purchase of land & residential construction
3. Enhancement of an already constructed residential bungalow
Features:
← Flexible financing from PKR 300,000/- to PKR 40 million for Salaried, SEP, NRP Customers and from
PKR 300,000/- to PKR 5 Million for Businessman Customer.
← Easy selection of financing tenure from 2 years (excluding construction period of max 12 months) to 20
years.

← No restriction on early unit purchase / early termination )
c. Easy Renovate — Make your home even better or just repair it!
53
Features:
← Flexible financing from PKR 150,000/- or up to 30% of

property value
← Easy selection of financing tenure from 2 years up to a

maximum of 15 years
d. Easy Replace — Transfer your existing mortgage!
You can now continue to enjoy your home, but with the added
satisfaction and peace of mind you always wanted. Meezan Bank
will help you switch your existing liability over to us and let you
enjoy the benefits of Halal and totally flexible financing.
Features:
← Flexible financing from PKR 300,000/- to PKR 40 million for

Salaried, SEP, NRP Customers and from PKR 300,000/- to PKR
5 Million for Businessman Customer.
← Easy selection of financing tenure from 3 years to 20 years

← No restriction on early unit purchase / early termination after

12 Months.
 Special Benefits of Easy Home
54
←
← Flexible Financing Tailored to Support You
o High financing amounts
o Adequate financing against property value
o Flexibility to make partial prepayments
o Minimal processing charges
o Affordable and competitive installment amounts with a regular reducing monthly rental
o Rate relaxtion for select MNCs & LCGs
o Quick Processing Time
o Absolutely hassle-free. Quick turn- around- times, with no burdensome complexities or

excess paper work. Its simple, Halal and Easy!
o Come and take the step towards Riba Free Financing for your home, made easy with
Meezan Bank’s easy home.
Quick Processing Time

Absolutely hassle-free. Quick turn-around-times, with no burdensome complexity or excess
paper work. It is simple, halal, and easy!
← Even the eligibility is Easy!

We at Meezan Bank, as prescribed by Islamic Shariah, seek to guarantee equal access to
financing for all qualified applicants, while ensuring that the qualification process is bias-free.
← Non Resident Pakistanis

Non Resident Pakistanis can apply with peace of mind for the fastest processing of their case.
← Special Offer for Chartered Accountants

Qualified Chartered Accountants and Corporate CFOs can avail discounted rates and flexible
repayment option with no pre-payment charges on early payment either partially or full.
← Special Offer for Easy Replacement Cases

Why paying high installment on high rate? Transfer your existing home finance facility to
55
Meezan Bank and avail attractive profit rate with flexible payment options. No pre-payment
charges on early payment either partially or full.
 Profit Rate
For Salaried Customers including SEP’s, NRP’s & Merchant Navy:
Fixed – 1st Year : K * + 3.00 % p.a

Annual Re-pricing : K ** + 3.00 % p.a.
(Floor 12.00% p.a. and Cap 30% p.a.)
For Businessman Customers:
Fixed – 1st Year : K * + 4.00 % p.a

Annual Re-pricing : K ** + 4.00 % p.a.
(Floor 12.00% p.a. and Cap 30% p.a.)
* For first year Fixed Rate, “K” denotes KIBOR (Karachi Inter Bank Offer Rate),
announced on 1st working day of each calendar month.
** For annual revision, “K” denotes 90 days average of 12-month KIBOR
(Karachi Inter Bank Offer Rate), announced for each calendar quarter by the Bank.
Additional Unit Purchase
Additional units will be revalued at 3%.
Revision of Profit Rates
Profit rates will be revised annually on Account Anniversary.
Repayment Frequency and Mode
Monthly installments, through Direct Debit of customers account maintained at Meezan Bank
Ltd in any branch.
Come and take the step towards Riba-Free financing for your home, made easy with Meezan
Bank's Easy Home!
 ELIGIBILITY CRITERIA:
Resident Pakistani
56
Particulars Eligibility
Citizenship Pakistani
Product Category Buyer, Builder, Renovation &

Replacement
Builder / Renovation Cases In such cases, a responsible

person will be appointed by the
NRP customer who will look after
construction on Musharakah
property/land.
Segment Salaried Only
Co-applicant for Income clubbing 50 % of Net income of Parents,

Spouse & Son
50 % of Brother’s Net income
residing in Pakistan
(on one off basis only)
Age (Applicant & Co-applicant for calculation of MBL financing amount) 25 to 60 years
Co-applicant Age (without income clubbing) 25 to 65 years
Relaxation in age criteria may

be allowed by HCF and RMU
Income Gross PKR 150,000/- & above
Employment Tenure Two years (minimum) regular

experience in same industry.
Minimum last 1-year existing job
in the same country.
Employment Status Permanent & Contractual
Company Eligibility Multinational Co. & Well

Established Local Corporate
Groups
57
Financing Tenor 3 to 20 Years
Financing Range As per existing policy parameter
ADDITIONAL REQUIRED DOCUMENTS
Particulars Verification
Employment Letter Verified by Pak. Embassy or Attested by Notary Public of the country of employment
Verified by Pak. Embassy or Attested by Notary Public of the country of

Salary Slip
employment.
Last 6 months bank

Original or Attested.
statement
Copy of
Employment To be confirmed from Employer
Contract .
Copy of Passport N.A
Copy of Pakistan Copy of Pakistan Origin Card and its NADRA verification. In case applicant has CNIC,
Origin Card the same shall also be verified from NADRA. Waiver for not availability of the same
may be approved by HCF.
Visa Proof N.A
Tax Documents Last 2 years tax documents, where available.
Other Loans Details of other loans obtained in Country of Employment [if availed].
 APPLICATION PROCEDURE:
58
EasyHome Road Map
Applying for Islamic Housing Fiance is Easy! Simply download the application form and follow
the 9 easy steps given below to make your dream of owning a Home, in a truly Halal way, come
true.
Step 1: Application Form & Initial Payment
← Submit the filled & signed application form to Meezan Bank.
← Submit the required cheque for Processing Fee & External Agency costs.
Step 2: Required Documents

Kindly attach all the required documents with your Application Form as mentioned below:
← Personal Information
o Copy of NIC
o Copy of Co-Applicants NIC (if applicable)
o 2 passport-sized colored Photographs of Applicant / Co-Applicant
o Copy of Rental Documents (if applicable)
o Copy of last paid Utility Bills (Electricity/Gas/Telephone)
o Borrowers Basic Fact Sheet
o Bank Statement - last 6 months
o Copy of recent Credit Card Bills
← Income Information*
o Original or certified copy of recent Pay Slip
o Employers Certificate including Tenor/Designation/Salary
o Bank Statement of Business - last 6 months (if applicable)
o Copy of Management Accounts (if applicable)
← Business/Professional Information
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o 3 years proof of business (e.g. Tax Return / Bank Certificate)
o Partnership Deed (in case of Partnership)
o Professional Degree / Certificate
o Professional Association Membership Certificate / Practice License
← If you have selected the property to buy or want financing for construction/
re-placement/renovation
o Property Title Documents (copies at initial stage & original before disbursement)
In the case of a Co-Applicant, all income related documents will also be required.
Step 3: Address Verification

Meezan Bank will verify your residential & office addresses and the addresses of references
submitted.
Step 4: Income Estimation
For Businessman / Self Employed professionals

Meezan Banks External Consultant will contact you to determine your monthly income to help
you in obtaining the maximum possible financing from the Bank. Kindly provide them all the
required details.
For Salaried Individuals

Meezan Bank will verify the income with your employer.
Step 5: Legal opinion

Meezan Bank will obtain a legal opinion on the property documents provided by you.
Step 6: Property Valuation

Meezan Banks appointed Valuation Agency will evaluate the property to determine its market
value
Step 7: Credit Approval & Sanction Letter

After you have satisfactorily fulfilled all Meezan Banks credit requirements, we will give you a
conditional sanction letter.
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Step 8: Account Opening
After approval of the case, you are required to open an account at Meezan Bank and submit a
filled Account Opening Form.
Step 9: Signing of House Finance Agreement

After completion of the above steps and approval of your case, you are required to come to
Meezan Bank for signing of the Islamic House Finance Agreement and other legal documents.
Processing Fee
The Easy Home application process is subject to the following fees
Schedule of Charges:
Segment Salaried Businessmen

*Documentation charges are exclusive of above-mentioned charges and will be obtained at the
Processing Charges PKR 5,000 PKR 5,000
time of signing of Musharakah Agreement according to the limits of financing.
Legal Report Charges PKR 5,000 PKR 5,000
Charity / Late Payment Charges
In EasyProperty
Home,Valuation Charges
in the event PKR 3,500
of any delay in monthly payment without PKR 3,500
a valid reason, the
customer will be required to pay as charity a sum of Rs.500/- (Rupees Five Hundred Only) and
Income Estimation Charges N/A
an amount @1% per day on such overdue amount remaining unpaid. PKR 5,000
 DOCUMENTS REQUIRED FOR EASY HOME:
Income Information.
Salaried Person:
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 Copy of recent pay slip/employer letter.
 Employer Certificate for Salaried employees including tenor,
designation & salary.
 Last 6 months Bank statement.
Business person:
 Copy of management accounts (if applicable).
 Bank Statement of Business.
 3 Years Proof of Business( e.g. Tax Return/Bank Certificate).
 Professional Association Membership Certificate/Practice
License.
 Professional Degrees/Certificates.
Property Documents:
 Copy of all related Property documents.
 Approved Building Plan.
Processing Fee:
 With Application.
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 Processing fee 5,000/-
 Legal Charges 5,000/-
 Income Estimation Charges 4,000/-
 Property Valuation Charges 3,500/-
After Approval:
Legal documentation Charges.
Rs. 1,000(Up to 1M)
Rs. 2,500(Above 1M)
Rs. 10,000(Above 10M).
Investment Certificate issued by Meezan Bank
Ltd.
To facilitate the customer through opening accounts of different
types, Meezan Bank also issues some investment certificates through
which they could benefit customer. The customer could easily invest
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in different types of certificates of different investments and could
get profit at attractive rates. These certificates are as under:
1. Certificate of Islamic Investment-COII.
The Riba Free Certificate of Islamic Investment is a Shariah
compliant investment certificate with a minimum investment of Rs.
50,000 and offering tenures from 3 months to 5 years. Profit on
investment may be earned on the following basis:
 Monthly profit on 1, 2, 3 and 5 years (Minimum Investment Rs.
200,000)
 Quarterly profit on 1, 2, 3 and 5 years
 At maturity profit payment for all tenures
Riba-Free Certificate of Islamic Investment (COII) works under the
principles of Mudarabah and is strictly in conformity with the rules
of Islamic Shariah. Profit calculation and all banking transactions
are in strict adherence to the Islamic Shariah, monitored by our
Shariah Advisor and the Shariah Supervisory Board.
Invest in Certificate of Islamic Investment
Riba-Free COII is available at all branches of Meezan Bank Ltd.
Meezan bank invite you to visit any of their branches to experience
the comfort of our personalized services. To make an investment the
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bank requires customers to maintain either a current or a saving
account with Meezan Bank. In order to open an account, fill in the
Account Opening Form, bring in the required documents, and get
introduced by an existing banker.
Additional Features
 Enjoy a range of valuable features including:
 Halal and high competitive returns
 Pre-mature withdrawal options available
 Free Online Banking services at any of our branches
 24/7 Call Center with complete Phone-banking services
 Specialized 8 to 8 Banking at selected branches
Certificate of Islamic Investment - COII
Profit Rates are applicable for Certificate of Islamic Investment balances for the month of May
2010
Profit Rates (% per annum)
Profit Rates at
Tenures Quarterly Rates Monthly Rates
Maturity
Three Months 6.78% - -
Six Months 7.11% - -
One Year 9.06% 8.02% 7.69%
Two Year 9.39% 8.28% 8.02%
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Three Year 9.97% 8.74% 8.15%
Five Year 11.67% 9.97% 9.13%
2. Monthly Mudarabah Certificate-MMC.

Riba Free Monthly Mudarabah Certificates is a flexible rupee based investment which has been
designed to give you a monthly return. The minimum investment required is only Rs. 100,000
and you receive profit for each complete month of investment with the Bank.
The Monthly Mudarabah Certificate works under the principles of Mudarabah and in strict
conformity with the rules of Islamic Shariah, the Profit calculation of Monthly Mudarabah
Certificates and all other banking transactions are in strict adherence to the Islamic Shariah,
monitored by our Shariah Advisor and the Shariah Supervisory Board.
KeyFeatures
During your relationship with us, you would be entitled to receive the following additional
benefits.
 A 100% halal investment in strict compliance with Shariah

 Monthly profit payment to your current or saving account with bank.
 Pre-mature withdrawal option available as per approved schedule (applicable to all certificates)
 Bank balance certificates
 Free Online Banking services at all Meezan Bank branches
 24/7 Call Center with complete Phone-banking services
 Personal financial consultancy services
 Specialized 8 to 8 Banking and Ladies Banking at selected branches
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Invest in a Monthly Mudarabah Certificate
Just fill in the Account Opening Form and bring in the required documents. After opening of an account,
customer can get their certificates and enjoy meezan bank personalized banking services.
Monthly Mudarbah Certificate - MMC
Profit Rates are applicable for Monthly Mudarbah Certificate balances for the month of May
2010
Average Monthly Balance (PKR) Profit Rates (% per annum)
100K & Above 6.58%
3. Meezan Aamdan Certificate-MAC.

The Riba-Free Meezan Aamdan Certificate (MAC) is a long-term deposit certificate with an exceptionally
high monthly profit designed especially for those individuals and corporations who are in need of
regular stream of monthly income. MAC is a monthly income (mahana aamdani) certificate with a
variety of free packaged benefits.
The certificate under the principles of Mudarabah, is strictly in conformity with the rules of Islamic
Shariah. Profit calculation and all banking transactions are in strict adherence to the Islamic Shariah,
monitored by our Shariah Advisor and the Shariah Supervisory Board.
Key Features
 Halal high competitive returns

 Minimum investment amount: Rs. 100,000/-
 Special attraction for Widows and Senior citizens with minimum investment of PKR 50,000/-
 Available tenures of 5½ years and 7 years
 Profit payment on monthly basis.
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 Pre-mature withdrawal options available as per approved schedule
 Free cheque book
 Free ATM withdrawals (unlimited transactions per month) from Meezan Bank ATM outlet
nationwide network
 Free Online Banking services at all Meezan Bank branches nationwide
 Free Internet banking facility
 24/7 Call Center with complete Tele-banking services
 Specialized 8 to 8 Banking at selected branches
Invest in the Meezan Aamdan Certificate
Invest, in Riba-Free Meezan Aamdan Certificate (MAC) and enjoy personalized banking
services from any Meezan Bank branch across Pakistan. Simply submit a completed application
form, along with the relevant documents.
Meezan Amdan Certificate - MAC
Profit Rates are applicable for Meezan Amdan Certificate balances for the month of May
2010
Tenures Monthly Profit Rates (% per annum)
5 1/2 years 10.89%
7 years 12.84%
4. Meezan Providence Certificate.
Meezan Providence Certificate is a long-term investment certificate specially designed to cater to

the needs of corporate and business concerns for purposes of investing their Provident, Pension
and Gratuity Funds.
As any prudent investor, your main concerns would be total security along with the best returns
possible, especially as these funds are a trust from your employees and one that bears an
important responsibility.
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Meezan Providence rests on the well known and solid financial strength of Meezan Bank, which
has a strong and credible balance sheet with excellent operating profitability, including a capital
adequacy ratio that has placed the Bank at the top of the industry, a long-term entity rating of
A+, and a short-term entity rating of A1. Furthermore, bank sterling track record shows
consistently beneficial and highly competitive returns for bank broad range of investors.
Finally, comes the benefit of truly Halal returns, a benefit customer may not have had the
opportunity to enjoy before and one that customer can now pass on to your employees, many of
whom would be grateful for such an opportunity.
Riba-Free Meezan Providence Certificate (MPC) works under the principles of Mudarabah and
is strictly in conformity with the rules of Islamic Shariah. Profit calculation and all banking
transactions are in strict adherence to the Islamic Shariah, monitored by our Shariah Advisor and
the Shariah Supervisory Board.
Key Features
 A 100% halal investment in strict compliance with Shariah

 High Returns
 Long-term security ensured
 Minimum investment amount: PKR 1,000,000
 Available tenures of 2, 3, 5 and 7 years
 Pre-mature withdrawal options available
Eligibility Criteria
Investing is simple and easy, as all you need is:
 To have a registered or unregistered Employee Provident/Gratuity/Pension Fund.

 Have operations based in Pakistan.
We at Meezan Bank, as prescribed by Islamic Shariah, seek to guarantee equal access to all qualified applicants,
while ensuring that the qualification process is bias-free.
Meezan Providence Certificate - MPC

Profit Rates are applicable for Meezan Providence Certificate balances for the month of May
2010
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Profit Rates at maturity (% per
Tenures
annum)
Two Year -
Three Year 9.45%
Five Year 11.02%
Seven Year -
5. Dollar Mudarabah Certificate.
The Riba-Free Dollar Mudarabah Certificate (DMC) is a flexible investment product which has
been designed to give you profit payment options at monthly, quarterly and maturity. DMC
works under the principles of Mudarabah and is strictly in conformity with the rules of Islamic
Shariah.
On agreeing to become a DMC 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. These 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.Certificate works under
the principles of Mudarabah and is strictly in conformity with the rules of Islamic Shariah. Profit
calculation and all banking transactions are in strict adherence to the Islamic Shariah, monitored
by our Shariah Advisor and the Shariah Supervisory Board.
Key Features
 Halal competitive returns

 Minimum investment amount: USD 10,000/-
 Available tenures of 3 months, 6 months, 1 year, and 3 years
 Profit payment option at maturity and six monthly basis
 Pre-mature withdrawal options available as per approved schedule
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 Bank balance certificates
 Access to priority desk.
 Personal financial consultancy services
 24/7 Call Center with complete phone banking services
 8am to 8pm Banking and Ladies Banking at selected branches
Come and take the step towards Islamic Banking
Simply fill in an Account Opening Form, and bring in the required documents. This is all that
you need to invest in a Riba-Free Dollar Mudarabah Certificate (DMC) with us and enjoy
personalized banking services from any Meezan Bank branch across Pakistan.
Dollar Mudarbah Certificate - DMC

Profit Rates are applicable for Dollar Mudarbah Certificate balances for the month of May 2010
Tenures Profit Rates (% per annum) 10K - 49.9K
Six Monthly Maturity
Three Months - 1.07%
Six Months - 1.16%
One Year 1.21% 1.26%
Three Year 1.30%

1.36%
Tenures Profit Rates (% per annum) 50K & Above
Six Monthly Maturity
Three Months - 1.12%
Six Months - 1.26%
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One Year 1.30% 1.36%
Three Year 1.40% 1.43%
Packages Launched by Meezan Bank Ltd.

Meezan bank Ltd launches different packages purely Riba-free only
for the betterment of customers, and strive towards the pure Islamic
Banking, to fulfill the customers banking needs according to Islam.
Those attractive products are:
1. Meezan Labbaik Umrah.
2. Meezan Labbaik Ramadan Umrah.
3. Meezan Labbaik Hajj.
1. Meezan Labbaik Umrah:
Meezan bank launches Umrah packages (a Holy Journey With
Comfort & Convenience) for their valuable customers at attractive
rates.
The Meezan Labbaik Umrah product is classified into three

categories:
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I. Labbaik Travel Aasaan – Pay today and Perform Umrah now.
II. Labbaik Travel Aasaan (Installment Option)- Perform Umrah
now and pay later
III. Labbaik Saving Aasaan -Save today and plan for Umrah or Hajj.
I. Labbaik Travel Asaan:

 Pay today & perform Umrah or Hajj now after processing and
documentation.
 As per Saudi Pak Bank and EGIB experience; approximately 50% of our
target customers will likely opt for Travel Aasaan as most of the pilgrims
are not satisfied with the services of travel agents and prefer Bank as
Banking is a trust business.
 Bank will act as a commission agent of the travel agent and will announce
the package as its partner.
 Bank will charge a lump sum fee and agent will provide the agreed
services; here Bank will make sure the services are provided as per
commitment by using continuous monitoring & follow ups.
The package charges schedule is as under:
Description No. Of People Airfare + Total

Package
Adult 2 55,700+40,000 1,91,400
Child (75% of 1 41,775+30,000 71,775
Adult)
Infant (10%of 1 5,570+4,000 9,570
Adult)
Package Price 2,72,745
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II. Labbaik Travel Aasaan (Installment Plan):
 Perform Umrah now and pay within 12 easy monthly installments.

MBL will collect 10% of package price as Down Payment and first
installment.
 As per Financing Contract bank approves or disapprove the
application, in case of approval bank sends Customer for Umrah
after processing of Visa, documentations and other arrangement.
Incase of Rejection, Bank will pay back the Deposited amount.
 Processing Charges at Actual: The Bank will conduct credit
assessments like NADRA, ECIB, Data Check and Physical
Verifications and Documentations and debit customer account with
the actual direct expenses.
 These Charges will be applicable in case of approval or rejection
both.
Descripti No. Of Airfare+ Package Down 12Equal

on People Package Price Payment Monthly
(10% of Installments
package
price)
Adult 2 55,700+40,000 1,91,400 19,140 14,355
Child 1 41,775+30,000 71,775 7,178 5,383
(75% of
Adult)
Infant 1 5,570+4,000 9,570 957 718
(10%of
Adult)
The salient points of Labbaik Travel Aasaan (Installment Plan) are:

 Riba free 12 months financing.
 Package price for Upfront & Installment Plan would be the same.
 Success is based on the processing time.
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 Account Opening Mandatory.
 Default is likely very low, pilgrimage being an Islamic duty.
III. Labbaik Saving Aasaan:

 Save today and plan for Umrah or Hajj.
 Select Monthly Deposit plan according to expected package price.
 Deposit Calculator will be available at branches & on Bank’s
website.
 Customer will deposit fixed amount each month.
 Once the deposited amount reaches the package price the
Customer can fulfill the desire to perform Umrah/ Hajj.
Pilgrimage to be performed on some future date (6 months to
20yrs).
 Bank will give special profit to the Customer on Mudarabah
basis.
 The saving account will be a non-checking account i.e. no ATM
or check book will be issued.
Withdrawal from the Scheme
Option available any time, without any penalty imposed by closing his
account.
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At maturity Customer will have the option to take his deposited amount
with profit and utilize for any purpose he may deem fit.
It will not be mandatory to utilize the amount for Meezan Bank Hajj or
Umrah Scheme. The Customer may select packages by other tour
operators.
Change of Plan
Customer will have the option to switch from Labbaik Saving Aasaan to
Labbaik Travel Aasaan or in case of Umrah to Labbaik Payment Aasaan
any time without having any penalty subject to the fulfillment of
eligibility criteria.
In this scenario the customer will enjoy the benefits of the profits as per
the Labbaik Saving Aasaan.
Package Features.
 These Umrah Packages are only for 15 days.
 Recommended for families and groups.
 Stay in KSA is 14 nights i.e. 4-Ngts. In Makkah, 7-Nghts. In
Madinah & 3-Nights. In Makkah.
 Accommodation in A-Category Hotels in Makkah & Madinah.
 Roundtrip transfer in Air-Conditioned Buses (Jed-Mak-Med-Meeqat-
Mak-Jed).
 Complete Umrah Visa Processing.
 Meet & assist services through trained staff in KSA.
 Ziarat in Makkah & Madinah with Urdu speaking guide.
 Weekly group flights with confirmed returned air ticket.
 Double Umrah Facility.
 Tawaf Al-widaa.
 Arrangement of Zam Zam 10 liter can (subject to availability).
NOTE:
 Qurbani (NAHR) is not a part of the Package.
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 Airfare is not included in the package price, which will be charged
at actual; after announcement of rates from selected Airlines.
 Complete advance payment shall be made at the time of booking.
 Last date for booking is July 31st 2009.
 MBL is just facilitating the sales whereas travel arrangements are
the responsibilities of the selected Travel agent.
Requirements:
 Copy of Machine Readable Passport with at least 1 year validity.
 12 Photographs 4x6 cm (light blue background).
 Copy of CNIC.
 Copy of deposit slip.
Meezan Visa Debit Card
Want access to your money anytime, anywhere? With a Meezan Visa Debit Card, you have
access to the money in your account wherever you are, whenever you want, wherever you see the
Visa symbol. The money is deducted from your balance straight away — there is no interest to
pay, no bills & no late fees!
Using your card is quicker than making a trip to the bank, more convenient than queuing for a
cash dispenser and safer than carrying money.
Features at a Glance
 Use your own money at more than 30 million outlets and 160 countries worldwide.
 Use it to buy both big and small items, wherever you see the Visa symbol.
 Each withdrawal taken directly from your Meezan Bank Linked Account.
 A safe and convenient alternative to carrying cash.
 You can call support 24 hours a day, 7 days a week with any queries. Simply call 111-331-331
 All shopping transactions on your card are signature based. Simply swipe and sign!
Your perfect travel companion
Next time you’re planning to go abroad, you can use your Visa debit card for all your purchases
and to withdraw cash at ATMs, just as you do at home wherever you see the Visa symbol.
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 Convenient - No need to buy foreign currency or travellers’ cheques in advance.
 Safe - No need to take large amounts of cash with you.
 Accepted all over the world - Pay for hotels, sightseeing, shopping and dining out.
Ladies Banking
Anking section only for Ladies
The Bank is the first in the country to introduce 'Ladies Banking' a dedicated banking section only for
ladies. This new service provides an exclusive banking area as per the set Shariah principles for our lady
customers in a more comfortable environment.
The dedicated Customer Services Officer in our ladies only banking area will provide consultancy for a
full range of our Halal banking services including, 9am to 5pm Online Banking, Term Certificates,
Current & Saving Accounts, Consumer Financing and 24/7 banking services.
Services provided at the Ladies Banking Section include:
 Special Baking Services: Dedicated Customer Services Officer in our ladies only banking area
who provide consultancy for all Halal banking needs.
 Consumer Financing: Car Ijarah and Easy Home
 Retail Banking: Current & Savings Accounts, Foreign Currency Accounts, Term Deposits
 24/7 Banking Services: ATM/Debit Card, Call Center, Internet Banking
Our ladies banking service is a part of Meezan Banks mission to focus on customer convenience and
service quality and make Islamic Banking the banking of First Choice.
This service is presently being offered at Barkat-e-Hyderi branch in Karachi, and will be offered at some
of our other branches very soon. Insha'Allah.
Profit calculation
Meezan Bank’s Savings Accounts (including Meezan Bachat Account, Karobari Munafa
Account, etc.) and (COIIs, including all term deposits e.g Meezan Amdan, Meezan
Providence, Monthly Mudarabah Certificate, etc.) are based on the Islamic principle of
Mudarabah. Mudarabah is a form of partnership in which one partner invests funds (called the
Rab ul Maal) while the other partner is the working partner (called the Mudarib) and is
responsible for prudent management of funds. During the month, the Bank uses these funds
78
/deposits to provide Islamic Financing to other Customers on the basis of Murabaha, Ijarah,
Istisna etc. At the end of the month, the Bank consolidates the Profit figures, and calculates the
Gross Income. The Gross Income is calculated after deducting costs and expenses directly
incurred in deriving that Income.
Gross income of the deposit pool is shared between the Bank (Mudarib) and customers (Rab ul
Maal) on the basis of a pre-determined profit sharing ratio announced at the beginning of the
period. The profit is distributed to the account holders on the basis of predetermined weightages,
also announced at the beginning of the month, based on their respective category/tiers. In case of
a loss, as per the rules of Mudarabah, the deposit pool shall bear the loss in the ratios of
investment of depositors.
Profit sharing ratios:
The current Profit Sharing Ratio between MBL (as Mudarib) and the Depositors (as Rab ul
Maal) is as follows:
1. Rupee Deposit Accounts and Certificates
Meezan Banks profit sharing ratio (as Mudarib) ---- 50% of Gross income.
Depositors profit sharing ratio (as Rab ul Maal) ---- 50% of Gross Income.
2. Dollar Deposit Accounts and Term Certificates
Meezan Banks profit sharing ratio (as Mudarib) ---- 50% of Gross income.
Depositors profit sharing ratio (as Rab ul Maal) ---- 50% of Gross Income.
At the beginning of the month Meezan Bank announces any change in the above
mentioned Profit Sharing Ratio* for the coming period.
Profit sharing weightages:
Profit Sharing Weightages for various categories / tiers of deposits and COIIs are also announced
at the beginning of the month for the coming period. However, any change in the Profit Sharing
Weightages for the next period will also be announced by the Bank at the beginning of the
month.
Profit Sharing Weightages for the current month
At the end of the month, the Bank may unilaterally reduce its profit sharing ratio for the benefit
of depositors.
Amount of Profit shall be derived and announced on monthly basis. Announcement of any
change in Profit Sharing Ratios and Profit Sharing Weightages for the coming period by the 1st
of that month.
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Current Weightages
Meezan Bank is pleased to declare the current weightages which are used to calculate the
distribution of profit as per the requirements of Shariah.
Historical Weightages (Rupee Product)
Historical Weightages (Foreign Currency)
Weightages for Pak. Rupee products from the month of June 2010
Profit Distribution Periods/

Account / Certificate Categories Weightage Assigned
Tier groups
Saving Accounts monthly 0.77

Labbaik Saving Aasaan Monthly 1.36

Margin Account Monthly 0.01

Meezan Business Plus Monthly 0.01

Meezan Bachat Account 1-24.99K 0.77
Meezan Bachat Account 25K-199.99K 0.88
Meezan Bachat Account 200-499.9K 1.03
Meezan Bachat Account 500K-1M 1.21
Meezan Bachat Account Above 1M 0.77
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Meezan Bachat Account 0.01
Withdrawal

Karobari Munafa Account 1-4.99M 0.77
Karobari Munafa Account 5M-9.99M 0.91
Karobari Munafa Account 100M-199.99m 1.10
Karobari Munafa Account 200M and above 1.26

Karobari Munafa Account Plus 1-4.99M 0.77
Karobari Munafa Account Plus 5M-9.99M 0.91
Karobari Munafa Account Plus 100M-199.99m 1.10
Karobari Munafa Account Plus 200M - 299.99M 1.26
Karobari Munafa Account Plus 500M and above 1.30

Monthly Mudarabah Certificate 100K and above 1.01

Meezan Islamic Institution Deposit Account 10M-199.9M 0.87
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Meezan Islamic Institution Deposit Account 200M-399.9M 1.02
Meezan Islamic Institution Deposit Account Above 400M 1.10

Certificate of Islamic Investment - 3 months 3 months 1.04
Certificate of Islamic Investment - 6 months 6 months 1.09
Certificate of Islamic Investment - 12 months Monthly 1.18
Certificate of Islamic Investment - 12 months Quarterly 1.23
Certificate of Islamic Investment - 12 months Maturity 1.39
Certificate of Islamic Investment - 2 years Monthly 1.23
Certificate of Islamic Investment - 2 years Quarterly 1.27
Certificate of Islamic Investment - 2 years Maturity 1.44

Meezan Providence - 2 years 6 Monthly 1.23
Meezan Providence - 2 years Maturity 1.44
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Meezan Aamdan Certificate 5 1/2 years Monthly 1.67
Meezan Aamdan Certificate 7 years Monthly 1.97

Equity 1.39
Weightages for foreign currency products from the month of June 2010

Dollar Saving Account Monthly 0.45

Certificate of Islamic Investement - 3 months Maturity 10K - 49.9K 0.77
Certificate of Islamic Investement - 3 months Maturity 50K & Above 0.87
Certificate of Islamic Investement - 6 months Maturity 10K - 49.9K 0.84
Certificate of Islamic Investement - 6 months Maturity 50K & Above 0.91
Certificate of Islamic Investement - 1 year 6 Monthly 10K - 49.9K 0.87
Certificate of Islamic Investement - 1 year 6 Monthly 50K & Above 0.94
Certificate of Islamic Investement - 1 year Maturity 10K - 49.9K 0.91
Certificate of Islamic Investement - 1 year Maturity 50K & Above 0.98
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Certificate of Islamic Investement - 3 years 6 Monthly 10K - 49.9K 0.94
Certificate of Islamic Investement - 3 years 6 Monthly 50K & Above 1.01
Certificate of Islamic Investement - 3 years Maturity 10K - 49.9K 0.98
Certificate of Islamic Investement - 3 years Maturity 50K & Above 1.03

Equity 1.03
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Corporate and Commercial Banking
Corporate Banking Customers
A customer is termed as a corporate customer if

 His annual sales turnover is Rs. 800 million or more
 He needs funded and non-funded lines of over Rs. 150 million
 He has a successful business trade record for a minimum period of 3 years, backed by
audited financials
Corporate Banking has a large number of multinational and local clients representing various
sectors of the economy. Client relationships are handled by dedicated Relationship Managers and
fully supported by Bank’s Branch staff to provide high quality service at competitive and market
driven pricing.
Commercial Banking Customers
A customer is termed as a Commercial Banking Customer if:
 His annual sales turnover is between Rs. 300 million to Rs. 800 million
 He needs funded and non-funded lines of up to Rs. 150 million
Small & Medium Enterprise (SME)
A customer is termed as a SME Banking Customer if:
 His annual sales turnover is up to Rs. 300 million

 He needs funded and non-funded lines of up to Rs. 75 million
85
Meezan Bank extends financing to cater to business needs of all the above mentioned types of
customers in the following areas:
1) Working Capital Finance

2) Project Financing for existing Corporates having expansion or BMR requirements
3) Islamic Export Refinance Facility (Part I and Part II)

4) Trade Related Services
1) Working Capital Finance Solutions

(for short term financing requirements)
Part of the wide range of Shariah complaint solutions for our customers are Murabaha,
Tijarah and Istisna’a, designed to meet working capital requirements. For example, if you need
finance for purchasing raw materials for your industry or are trading in goods then you could use
Murabaha or Istisna’a to meet your financial needs.
Murabaha
Definition
Murabaha is a particular kind of sale where the seller expressly mentions the cost of the
commodity purchased, and sells it to another person by adding some profit thereon. Thus,
Murabaha is not a loan given on interest; it is a sale of a commodity for cash/deferred price.
The Bai’ Murabaha involves purchase of a commodity by a bank on behalf of a client and its
resale to the latter on cost-plus-profit basis. Under this arrangement, the bank discloses its cost
and profit margin to the client.
In other words rather than advancing money to a borrower, the bank will buy the goods from a
third party and sell those goods to the customer at an agreed price.
One of the most common modes of finance employed by Islamic Banks, Murabaha is based on
the exact requirements of each customer. It can be defined as a sales transaction where Meezan
Bank purchases the commodity and sells it after adding an agreed profit. Thus, it is not a loan
given on interest - it is the sale of a commodity on a deferred price.
Hence Murabaha involves the purchase of a commodity by Meezan Bank on behalf of a

customer and the subsequent resale to the customer on cost-plus-profit basis. The cost and profit
margin to the bank is expressly disclosed to the customer.
Simply put, rather than advancing money to the customer, Meezan Bank buys the commodity
from a third party and sells it to the customer at an agreed price, which includes an element of
profit.
86
So what is the difference between Murabaha and a Sale?
A simple sale in Arabic is called Musawamah - a sale that does not involve disclosing or
referring to the cost of goods sold. However, when the cost price is disclosed to the client, it is
called Murabaha.
Difference between Murabaha and Sale
A simple sale in Arabic is called Musawamah - a sale without disclosing or referring to the cost
of goods sold. However when the cost price is disclosed to the client, it is called Murabaha . A
simple Murabaha is one where there is cash payment and MurabahaMuajjal is one on deferred
payment basis.
Basic Rules for Murabaha
Following are the rules governing a Murabahah transaction:
 The subject of sale must exist at the time of the sale. Thus anything that does not exist at
the time of sale cannot be sold as this makes the contract void.
 The subject matter should be in the ownership of the seller at the time of sale. If the seller
sells something that he himself has not acquired, then the sale becomes void.
 The subject of sale must be in physical or constructive possession of the seller when it is
sold to another person. Constructive possession means a situation where the owner has
not taken physical delivery of the commodity yet it has come into his control and all
rights and liabilities of the commodity are passed on to him including the risk of its
destruction.
 The sale must be instant and absolute. Thus a sale attributed to a future date or a sale
contingent on a future event is void.
 The subject matter should be a property having value in the eyes of Shari’a.
 The subject of sale should not be a thing used for an un-Islamic purpose.
 The subject of sale must be specifically known and identified to the buyer. For Example,
‘A’ owner of an apartment building says to ‘B’ that he will sell an apartment to ‘B’. Now
the sale is void because the apartment to be sold is not specifically mentioned or pointed
to the buyer.
 The delivery of the sold commodity to the buyer must be certain and should not depend
on a contingency or chance.
87
 The certainty of price is a necessary condition for the validity of the sale. If the price is
uncertain, the sale is void.
 The sale must be unconditional. A conditional sale is invalid unless the condition is
recognized as a part of the transaction according to the usage of the trade.
Istisna’a
Istisna’a is a sale transaction where a commodity is transacted before it comes into existence. It
is an order to manufacture a specific commodity for the purchaser. The manufacturer (our
customer) uses its own material to manufacture the required goods. In Istisna’a, price is fixed
with the consent of all parties involved. Similarly all other necessary specifications of the
finished product are agreed beforehand.
Istisna’ as a mode of financing
Istisna Finance is used to cater for the working capital requirements of a business involved in the
manufacturing of goods. It is ideally suited for exporters and manufacturers who have export
orders in the shape of Sight/Usance Letter of Credit/ Sight Export Contract D/P/ Usance Export
Contract D/A.
Istisna’ is a sale transaction where a commodity is transacted before it comes into existence. It is
an order to a manufacturer to manufacture a specific commodity for the purchaser. The
manufacturer uses his own material to manufacture the required goods.
In Istisna’ , price m ust be fixed with consent of all parties involved. All other necessary
specifications of the commodity must also be fully settled.
Istisna’ may be used to provide financing for construction of house. If the client owns a land and
seeks financing for the construction of a house, the financier may undertake to construct the
house on the basis of an Istisna’. If the client does not own the land and wants to purchase that
too, the financier can provide him with a constructed house on a specified piece of land.
Istisna’ may also be used for similar projects like installation of an air conditioner plant in the
client’s factory, building a bridge or a highway.
The modern BOT (buy, operate and transfer) agreements may be formalized through an Istisna’
agreement as well. So, if the government wants to build a highway, it may enter into an Istisna’
contract with the builder. The price of Istisna’ can be the right of the builder to operate the
highway and collect tolls for a specific period.
88
2) Project Financing, Expansion or BMR Requirement
Solutions
(for medium and long term financing requirements)
Two of the most commonly used Islamic financing solutions availed by businesses today,
Diminishing Musharakah and Ijarah are ideal for expansion of businesses, BMR requirements or
other medium to long term financing requirements.
Diminishing Musharakah
Using this financing model, Meezan Bank and the customer participate in the joint ownership of
an asset. The asset is divided into a number of units and the customer periodically purchases
these units from the bank over a specified period. Over time, the customer purchases all units
owned by the bank, making him or her the sole owner of the asset or the commercial enterprise.
Diminishing Musharakah is most commonly used for the financing of fixed assets, projects,
homes and automobiles.
According to this concept, a financier and his client participate either in the joint ownership of a
property or an equipment, or in a joint commercial enterprise. The share of the financier is
further divided into a number of units and it is understood that the client will purchase the units
of the share of the financier one by one periodically, thus increasing his own share until all the
units of the financier are purchased by the client so as to make him the sole owner of the
property, or the commercial enterprise, as the case may be.
Financing on the basis of Diminishing Musharakah
The proposed arrangement is composed of the following transactions:
1. Creation of joint ownership in the property (Shirkat-ul-Milk).

2. Giving the share of the financier to the client on rent.
3. Promise from the client to purchase the units of share of the financier.
4. Actual purchase of the units at different stages.
5. Adjustment of the rental according to the remaining share of the financier in the property.
In the above mentioned arrangement, following conditions must be taken care of:
 The agreement of joint purchase, leasing and selling different units of the share of the
financier should not be tied-up together in one single contract. However, the joint
purchase and the contract of lease may be joined in one document whereby the financier
agrees to lease his share, after joint purchase, to the client. At the same time the client
89
may sign one-sided promise to purchase different units of the share of the financier
periodically and the financier may undertake to reduce the rent on remaining units
accordingly.
 At the time of the purchase of each unit, sale must be affected by the exchange of offer
and acceptance at that particular date.
 It will be preferable that the purchase of different units by the client is affected on the
basis of the market value of the asset as prevalent on the date of purchase of that unit, but
it is also permissible that a particular price is agreed in the promise of purchase signed by
the client.
Ijarah
In contrast to diminishing musharakah, this mode of financing is based on the provision of the
required tangible assets, such as property, machinery, etc, on rental for an agreed period of time.
The concept is similar to “leasing”, which is common in conventional banking. However there
are some specific prohibitions which render conventional leasing to be forbidden under Shariah.
Ijarah is commonly used for long and medium term fixed asset financing, project financing and
for retail products such as homes and automobiles.
"Ijarah" is a term of Islamic fiqh. Lexically, it means 'to give something on rent'.
In the Islamic jurisprudence, the term 'Ijarah' is used for two different situations. In the first
place, it means 'to employ the services of a person on wages given to him as a consideration for
his hired services." The employer is called 'mustajir' while the employee is called 'ajir', while the
wages paid to the ajir are called their 'ujrah'.
The second type of Ijarah relates to the usufructs of assets and properties, and not to the services
of human beings. 'Ijarah' in this sense means ' to transfer the usufruct of a particular property to
another person in exchange for a rent claimed from him.' In this case, the term 'Ijarah' is
analogous to the English term 'leasing'. Here the lessor is called 'Mujir', the lessee is called
'mustajir' and the rent payable to the lessor is called 'ujrah'.
The rules of Ijarah are very much analogous to the rules of sale, because in both cases something
is transferred to another person for a valuable consideration. The only difference between Ijarah
and sale is that in the latter case the corpus of the property is transferred to the purchaser, while
in the case of Ijarah, the corpus of the property remains in the ownership of the transferor, but
only its usufruct i.e. the right to use it, is transferred to the lessee.
Lease as a mode of financing
Lease is not originally a mode of financing. It is simply a transaction meant to transfer the
usufruct of a property from one person to another for an agreed period against an agreed
consideration. However, certain financial institutions have adopted leasing as a mode of
financing instead of long term lending on the basis of interest.
90
This transaction of lease may be used for Islamic financing, subject to certain conditions. It is not
sufficient for this purpose to substitute the name of 'interest' by the name of 'rent' and replace the
name of 'mortgage' by the name of 'leased asset'. There must be a substantial difference between
leasing and an interest-bearing loan. That will be possible only by following all the Islamic rules
of leasing.
Basic Rules of Ijarah
1. Leasing is a contract whereby the owner of something transfers its usufruct to another
person for an agreed period, at an agreed consideration.
2. The subject of lease must have a valuable use (which is recognized as Mal-e-
Mutaqawwam in Shariah. Therefore, things having no usufruct at all or whose usufruct is
not permissible according to Shariah cannot be leased.
3. It is necessary for a valid contract of lease that the corpus of the leased property remains
in the ownership of the seller, and only its usufruct is transferred to the lessee. Thus,
anything which cannot be used without consuming cannot be leased out. Therefore, the
lease cannot be effected in respect of money, eatables, fuel and ammunition etc.
4. As the corpus of the leased property remains in the ownership of the lessor, all the
liabilities emerging from the ownership shall be borne by the lessor, but the liabilities
referable to the use of the property shall be borne by the lessee.
5. The period of lease must be determined in clear terms.
6. The lessee cannot use the leased asset for any purpose other than the purpose specified in
the lease agreement. If no such purpose is specified in the agreement, the lessee can use it
for whatever purpose it is used in the normal course.
7. The lessee is liable to compensate the lessor for any damage to the leased asset caused by
any misuse or negligence on the part of the lessee.
8. The leased asset shall remain in the risk of the lessor throughout the lease period in the
sense that any harm or loss caused by the factors beyond the control of the lessee shall be
borne by the lessor.
9. A property jointly owned by two or more persons can be leased out, and the rental shall
be distributed between all the joint owners according to the proportion of their respective
shares in the property.
10. A joint owner of a property can lease his proportionate share to his co-sharer only, and
not to any other person.
11. It is necessary for a valid lease that the leased asset is fully identified by the parties.
12. The rental must be determined at the time of contract for the whole period of lease.
13. In the long term lease agreements, it is mostly not in the benefit of the lessor to fix one
amount of rent for the whole period of lease because the market conditions change from
91
time to time. For this purpose it is allowed to use benchmark rate to determine the rental
amounts. However, rent for the month will be fixed at the start of the month, any change
in benchmark rate during the month will not cause rent for that month to change. It is also
necessary to define a floor and ceiling.
14. The lessor cannot increase the rent unilaterally, and any agreement to this effect is void.
15. The rent or any part thereof may be payable in advance before the delivery of the asset to
the lessee, but the amount so collected by the lessor shall remain with him as 'on account'
payment and shall be adjusted towards the rent after its being due.
16. The lease period shall commence from the date on which the leased asset has been
delivered to the lessee, no matter whether the lessee has started using it or not.
17. If the leased asset has totally lost the function for which it was leased, and no repair is
possible, the lease shall terminate on the day on which such loss has been caused.
However, if the loss is caused by the misuse or by the negligence of the lessee, he will be
liable to compensate the lessor for such negligence.
4) Trade related services

A complete range of products and services for importers and exporters are available. Based on
various modes of Islamic Finance, the solutions have been designed to suit the needs of our
customers. Some of the key services offered include:
 Letters of Guarantee - following types of guarantees could be issued

o Bid Bond
o Performance Bond
o Payment Bond
o Retention Bond
 Products for Exporters

o Export bills for collection
o Export (Sight) bills purchase under Salam Arrangement
o Export (Usance) bills purchase under Murabaha Arrangement
 Products for Importers
o Sight Letter of Credit
o Usance Letter of Credit
92
Investment Banking
Realizing the increasingly diverse needs of our customers for advisory and structured finance
transactions, a specialized department focusing on Investment Banking is funtioning at Meezan
Bank. The Investment Banking department provides unique structuring by using complex
Shariah structures for transactions so as to meet customer's commercial needs. Meezan Bank as
torchbearer of Islamic Banking has been making significant contribution in the Investment
Banking industry by playing leading roles in business transactions.
Key Services
 Syndications & Structured Finance

 Project Financing
 Financial Advisory Services
Key Transactions
September 2007
Dawood Hercules Chemicals Limited
Febraury 2009
Liberty Power Tech Limited
Rated Privately Placed Sukook Issue Privately Placed Sukook Issue

PKR 12,000 million PKR 9,185 million
Lead Arranger Lead Advisor & Arranger
Shariah Structuring Advisor Shariah Structuring Advisor
September 2007 September 2007

Engro Chemicals Limited Attock Power Gen Limited
Syndicated Finance Facility

Privately Placed Sukook Issue PKR 7,800 million
PKR 3,000 million Co-Arranger
Joint Lead Advisor & Arranger Shariah Structuring Advisor
June 2007 August 2007

Sui Southern Gas Company Limited Water & Power Development Authority
Privately Placed Sukook Issue SLR Eligible Placed Sukook Issue

PKR 2,000 million PKR 10,000 million
Joint Lead Advisor & Arranger Co-Arranger
93
The Asset Management and Investment Advisory Arm of Meezan
Bank Limited
Al Meezan Investment Management Limited (Al Meezan), the asset management and investment
advisory arm of Meezan Bank Limited, specializes in the development and management of
Shariah compliant investment solutions. Al Meezan Investments has one of the longest and the
most successful track record of managing mutual funds in the private sector, spanning over
fourteen years.
Al Meezan is presently managing eight funds and an administrative plan i.e. Al Meezan Mutual
Fund Limited (AMMF) - a closed end equity fund; Meezan Islamic Fund (MIF) - an open-end
equity fund; Meezan Balanced Fund (MBF) - a closed end balanced scheme; Meezan Islamic
Income Fund (MIIF) - Pakistan’s first Shariah compliant open end income fund - Meezan
Tahaffuz Pension Fund (MTPF) - a Voluntary Pension Scheme, Meezan Capital Protected Fund-
I (MCPF-I) - Pakistan’s first Shariah compliant open end capital protected fund, Meezan Mahana
Kharch Account (MMKA) - an administrative plan of MIIF to provide monthly income, Meezan
Cash Fund (MCF) - Pakistan’s first Shariah compliant open end money market fund and Meezan
Sovereign Fund (MSF) - Pakistan’s first Shariah compliant open end government securities
fund.
The total size of these eight funds under management as at March 31, 2010 is over PKR 18.2
billion as compared to PKR 13.5 billion at the corresponding date last year. The increasing size
of assets under management manifests the ability of the professional fund management team to
consistently out-perform the peers and consequently build upon the investor confidence.
Al Meezan is ranked among the best performing asset management companies in Pakistan. The
fund wise break up of net assets as at March 31, 2010 is as follows:
NET ASSETS
PKR (Millions)
FUND
March 31, 2010
Meezan Cash Fund 4,633
Meezan Islamic Fund 4,436
Meezan Islamic Income Fund 3,738
Al Meezan Mutual Fund 1,521
94
Meezan Balanced Fund 1,319
Meezan Capital Protected Fund-I 633
Meezan Sovereign Fund 536
Meezan Tahaffuz Pension Fund 246
Al Meezan has also achieved Management Quality Rating “AM2”, assigned by JCR-VIS. AM2
is currently the highest Management Quality Rating assigned by JCR-VIS to any Asset
Management Company. This rating denotes high management quality rating with a stable
outlook. Al Meezan’s funds carrying equity exposures including Meezan Islamic Fund and Al
Meezan Mutual Fund have befen amongst the top performing funds in their respective categories
for the calendar year 2009.
The Shariah Advisor of Meezan Bank Limited, also being the Shariah Advisor of Al Meezan,
supervises the operations in order to ensure Shariah compliance of the funds. In addition to the
service quality, Shariah compliance and impressive performance in terms of returns to investors,
Al Meezan also complies with the global best practices in asset management and has voluntarily
adopted “Asset Manager Code of Professional Conduct” from CFA Institute, USA. Hence it has
the distinction of being the first asset management company in Pakistan to comply with the
global best practices in asset management.
Units of all open end funds are available at the offices of Al Meezan and all branches of Meezan
Bank Limited (MBL) across Pakistan. For the convenience of investors, Al Meezan has placed
dedicated investment officers at the selected branches of MBL. These officers provide guidance
and assist the investors in meeting their investment objectives.
95
96
“Authentic marketing is not the art of selling what you make but knowing what to make. It is
the art of identifying customer needs and creating solutions that deliver satisfaction to the
customers, profits to the producers and benefits to the stake holders”.
Philip
Kotler
Following are some of the strengths of Meezan bank which distinguish it from other banks
in market.
1. First exclusive Islamic bank.
2. The largest Islamic bank in Pakistan with a network of 201 branches in 54 cities across
Pakistan.
3. Strong growth of its Islamic banking Strategic business unit.
4. The members of Shariah supervisory board of Meezan bank are renowned scholars of
international repute, serving on the board of many banks operating in different countries.
5. Online banking facility is available in all branches of Meezan bank. And ATM card facility on
almost all type of accounts.
6. Karachi August 20, 2008 Meezan Bank the largest Islamic bank has been conferred the best
Islamic bank award by Rawalpindi chamber of Commerce and industry.
7. Dedicated and professional staff
8. Healthy working environment
9. Strong shareholding
10. A short term rating of A-1 by JCR-VIS CREDIT RATING COMPANY
97
1. High charges for different activities such as online banking and drafts as compared to
other banks.
2. Lack of promotion and advertising of their products and services.
3. Lengthy and extensive documentation
4. Centralized procedures making process slow.
5. Weak marketing strategy, target market not identified
6. Risk averse policy
7. True Islamic procedures are not being adopted to make it complete Islamic banking
8. No credit card facility.
9. Non- aggressiveness
98
1. House Financing sector can be targeted to maximize the profit.
2. Growing demand of Islamic financial products and services.
3. Venturing into Islamic groups outside the country as opportunity to expand business in
UAE and Gulf states
4. Entering into business with other Islamic Financial Institutions.
5. Increasing Branch network within the country.
6. Providing true Shariah compliant products to customers not only in words but also in
practice.
7. Adopting other Shariah compliant modes of financing.
8. Coming up with. Products for the SME
99
1. New competitors setting up their Islamic banking branches
2. High interest rate from SBP
3. Fears on the credibility of Islamic banking ethical compliance and monitoring system.
4. Disassociation of Maulana Taqi Usmani from the Shariah advisory board of Meezan
Bank
100
Had it been a conventional bank equipped with an extensive network and complete portfolio of
products, we would have proposed….
"Early to bed, early to rise
Work like hell &ADVERT IS E"
But this is not the case with Meezan Bank. The network and the portfolio of the products offered
are limited. For this we would propose...
“Early to bed, early to rise
Work like hell &IM PROVIS E" .
In this particular scenario, the word IMPROVISE stands for;
I Innovation
M Market perceptions
P Prudence
R Rationalization
0 Objectives clearly understood
V Vision
I identifying & understanding customer needs
S Satisfying customer needs
E Educating the customers
Other recommendations that we suggest are
1.TV. Advertising
2. Press Advertising
3. Spreading awareness through Dars
4. Wall clocks for mosques
5. Awareness through curriculum
6. Umra and Haj packages
101
Being a premier Islamic bank and an innovator in market Meezan Bank stands today at a
noteworthy and critical juncture as The Premier Islamic Bank in Pakistan and is truly leading the
way forward in establishing a real, stable, and dynamic Islamic Banking system in Pakistan. The
foundation of this being the guidance of our highly qualified and globally renowned Shariah
Supervisory Board headed by Justice (Retd) Muhammad Taqi Usmani and including renowned
scholars from the Middle East, who as a whole bring together a rich knowledge base of Islamic
Fiqh accumulated over the past1400 years. Furthermore, with the able support of the SBP's
Islamic Banking Department, all the products offered by the bank are very thoroughly
scrutinized by these Shariah specialists in Islamic finance; hence approval of these products is
not based on unqualified individual opinion or views, but on very sound assessment and
jurisprudence. However still if we go into ground realities there are issues which fall in
contradiction with Islamic jurisprudence,
But in our opinion revolution takes ample time to take effect and this effort of Meezan bank to
provide a complete range of Islamic banking products to Pakistani citizens deserves true
appreciation. We are also looking forward that in near future these issues could be resolved and
we get a banking system in true Islamic way involving all Shraih compliant practices.
102
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Meezan Bank - Banking Products

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Meezan Bank - Banking Products

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INTRODUCTION :

Meezan Bank is publicly listed company, first incorporated on

In addition, the “State Bank of Pakistan” itself governs the

a strong Balance sheet with excellent operating profitability,

of industry, a long-term entity rating of A+, and a short-term entity

Meezan Bank’s Managers.

The Mission of Meezan bank is

“To Be A Premier Islamic

Overview of the Organization

Brief History of the Organization

Al-Meezan Investment Bank is established with a mandate to pursue Islamic Banking.

Meezan Bank has a very high-caliber “Shariah Supervisory Board”,

 Justice (Retd.) Muhammad Taqi Usmani (Pakistan)-Chairman.

 Dr. Abdul Sattar Abu Ghuddah (Saudi Arabia).

 Sheikh Essam M. Ishaq (Bahrain).

 Dr. Muhammad Imran Ashraf Usmani (Pakistan).

 Pakistan Kuwait Investment Company (Pvt) Ltd.

 Shamil Bank of Bahrain E.C.

 Islamic Development Bank.

 KUWAIT Awqaf Public Foundation.

 Saudi-Pak Industrial & Agriculture Investment

Company (Pvt) Ltd.

Meezan Bank Head Office:

3rd Floor PNSC Building,

Moulvi Tameezuddin Khan Road Karachi,

Tel: (92-21) 5610582/5610679.

Fax: (92-21) 5610375.

24/7 Call Center 111-331-331.

 To fulfill the banking requirements of the customer according

 To guide customers about different products, Bank policies &

requirements regarding different types of accounts.

 Assist first time customer in opening bank accounts.

 To promote the highest level of customer services and

responsiveness to customer base of the branch.

customer and guide them in the best solution of their queries

and concern as per bank policies.

 To operate the accounts of such customers who earns HALAL &

 To represents the bank in professional manner.

 To facilitate the Customer to avail our services happily and

 Assure customer of a truly Halal absolutely Riba-free

As they already introduced Meezan bank Ltd (Garden West Branch

Accounts Offered by Meezan Bank Ltd on

 This is a kind of partnership where one partner gives money to

another for investing in a commercial enterprise.

 The management and work is an exclusive responsibility of the

other, who is called “Mudarib” (Working Partner).

 Profit is shared as per agreed ratio.

 In case of Mudarbah all losses are borne by Rab-ul-Mal.

 The Structure is based on the principle of Mudarabah and is

strictly in conformity with the rules of Islamic Shariah.

 It has been approved by the Shariah Supervisory Board of

 On agreeing to become an account holder, the customer enters

into a relationship based on Mudarabah with Meezan Bank.

 Under this relationship:

- The Bank is the Manager (Mudarib) of the funds deposited

allocates the funds received from the customers to a

These funds from the pool are utilized to provide financing to

to, Murabaha and Ijarah.

Profit Distribution Structure :

Source Investment Pool Investment/Financing

Depositors (Rab-ul-Mal) in a predetermined ratio (%) of the actual

Meezan Bank Ltd offers different types of Accounts on