Meezan Bank Limited, a publicly listed company, is the first and largest Islamic Bank in Pakistan and one

of the fastest growing banks in the history of the banking sector of the Country. a!ing the largest branch network and product range, Meezan Bank bears the critical responsibility of leading the way forward in establishing a stable and dynamic Islamic banking system replete with dynamic and cutting"edge products and ser!ices. Meezan Bank aims to fulfill its prime ob#ecti!e of pro!iding customers accessibility and con!enience, within an atmosphere and culture of dedicated ser!ice and recognition of their needs. Meezan Bank has de!eloped an e$traordinary research and de!elopment capability by combining in!estment bankers, commercial bankers, %hariah scholars and legal e$perts to de!elop inno!ati!e, !iable, and competiti!e !alue propositions that not only meet the re&uirements of today's comple$ financial world, but do so with world"class ser!ice e$cellence which our customers demand( all within the bounds of %hariah.

MUSHARKAH )asy ome is a %hariah"compliant ome *inance facility+ ,ne that is comprehensi!e, affordable, and totally hassle"free. Meezan Bank is committed to meet our customers' needs in a truly %hariah"compliant manner coupled with dedicated ser!ice e$cellence. -hy not ha!e the best of both worlds. Isn/t that what you are working so hard for anyway. )asy ome not only allows you to own your own home by paying easy installments but also keeps you safely away from interest based financing. Easy Home works on a Diminishing Musharakah basis -ith )asy ome you participate with Meezan Bank in #oint ownership of your property, where the Bank will pro!ide a certain amount of financing. 0ou agree to a monthly payment to the bank of which one component is for use of the home, and another for your e&uity share. In fact, the total monthly payment is reduced regularly as your share in the property grows. -hen you ha!e made the full in!estment, which had been agreed upon, you become the sole owner with a free and clear title to the property. Key Features Flexibility and Variety to meet you re uirements Flexible Finan!ing "ailored to Su##ort $ou

igh financing amounts 1de&uate financing against property !alue *le$ibility to make partial prepayments Minimal processing charges 1ffordable and competiti!e instalment amounts with a regular reducing monthly 2ate rela$ation for select M3Cs 4 LC5s

rental

%ui!k &ro!essing "ime 1bsolutely hassle"free. 6uick turn"around"times, with no burdensome comple$ity or e$cessi!e paper work. It is simple, halal, and easy+ Click here for details E'en the eligibility is Easy( -e at Meezan Bank, as prescribed by Islamic %hariah, seek to guarantee e&ual access to financing for all &ualified applicants, while ensuring that the &ualification process is bias"free. Click here for details )on Resident &akistanis 3on 2esident Pakistanis can apply with peace of mind for the fastest processing of their case.

Easy *uilder For that s#e!ial home you want to build( )asy Builder allows you to get financing for 2esidential construction on applicant's owned land Purchase of land 4 residential construction )nhancement of an already constructed residential bungalow Features+ *le$ible financing from P72 899,999:" to P72 ;9 million for %alaried, %)P, 32P Customers and from P72 899,999:" to P72 < Million for Businessman Customer. )asy selection of financing tenure from = years >e$cluding construction period of ma$ ?= months@ to =9 years. Easy Re#la!e "rans,er your existing mortgage( 0ou can now continue to en#oy your home, but with the added satisfaction and peace of mind you always wanted. Meezan Bank will help you switch your e$isting liability o!er to us and let you en#oy the benefits of alal and totally fle$ible financing. Features+ *le$ible financing from P72 899,999:" to P72 ;9 million for %alaried, %)P, 32P Customers and from P72 899,999:" to P72 < Million for Businessman Customer. )asy selection of financing tenure from 8 years to =9 years

MAB12B1 Monthly Mudarabah -erti,i!ate Ensuring Short.term Halal /n'estments with -om#etiti'e Returns

Che 2iba"*ree Monthly Mudarabah Certificate >MMC@ is a short"term deposit product which has been designed to gi!e you e$pected monthly returns. Monthly Mudarabah Certificates work on the principle of Mudarabah under which the customer is an In!estor >2ab"ul"Maal@, and the Bank is the Manager >Mudarib@ of the funds deposited by

the customer. Che Bank allocates the funds recei!ed from the customers to a Beposit pool( funds from the pool are utilized to pro!ide financing to customers under Islamic modes that include, but are not restricted to Murabaha, I#arah, Istisna and Biminishing Musharakah. Che Monthly Mudarabah Certificate is a!ailable for Indi!iduals and businesses including %ole Proprietorships, Partnerships and Limited Companies. Key Features Minimum In!estment re&uired is 2s. ?99,999:" In!estment period is one month with re"in!estment option a!ailable on a continuous basis Monthly profit payment will be made to your Meezan Bank account Pre"mature withdrawal can be made as per appro!ed schedule

&ro,it sharing 0 Distribution Method Che Bank calculates the profit of the deposit pool e!ery month. 5ross income of the deposit pool is shared between the Bank >Mudarib@ and customers >2ab"ul"Maal@ on the basis of a predetermined profit"sharing ratio announced at the beginning of the month. Che profit is distributed amongst the 1ccount holders on the basis of predetermined weightages, announced at the beginning of the month. In case of a loss, as per the rules of Mudarabah, the 2ab"ul"Maal shall bear the loss in the ratio of their in!estment. &ro,it Sharing Ratio

Bank will share <9D of 5ross Income as Mudarib Bepositor will share <9D of 5ross Income as 2ab"ul"Maal

/1ARAH Car I#arah 1s a step towards Meezan Bank's mission to pro!ide a one"stop shop for inno!ati!e !alue"added %hariah compliant products, Meezan Bank's Car /2arah unit pro!ides car financing based on the principles of I#arah and is free of the element of interest. Car I#arah is Pakistan's first Interest *ree car financing based on the Islamic financing mode of I#arah >Islamic leasing@. Chis product is ideal for indi!iduals looking for car financing while a!oiding an interest"based transaction. Meezan Bank' Car I#arah is a car rental agreement, under which the Bank purchases the car and rents it out to the customer for a period of 8 to < years, agreed at the time of the contract. Apon completion of the lease period the customer gets ownership of the car against his initial security deposit.

-ar /2arah also ,eatures Used Vehi!les In addition to leasing of new cars, Meezan Bank also pro!ides the uni&ue opportunity of leasing second hand, both locally assembled and imported !ehicles. Chis feature is specifically designed as a highly economical option. Che Ased Car I#arah facility is made a!ailable at a minimum" security deposit as low as =9D. *inancing of used cars are sub#ect to a selection criteria. Key Features o, -ar /2arah

Low monthly rental 2ental paid after deli!ery, not in ad!ance *astest processing and deli!ery Cracker option a!ailable Minimum security deposit as low as ?9D 1ll new, used, local, imported and lu$ury !ehicles can be financed

Shariah !om#lian!e Car I#arah, designed under the super!ision of Meezan Banks %hariah %uper!isory Board, is uni&ue to car leasing facilities pro!ided by other banks. Rights 0 liabilities o, 3wner '4s User 1n Islamic I#arah is an asset"based contract, i.e. the Lessor should ha!e ownership of the asset during the period of the contract. Ander Islamic %hariah, all ownership related rights and liabilities should lie with the owner while all usage"related rights and liabilities should lie with the user. 1 con!entional lease contract does not distinguish between the nature of these liabilities and places all liabilities on the user of the asset, which is contradictory to Islamic %hariah. Ander I#arah, 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 > alal@ for the Bank.
-ontinuation o, lease rentals in !ase o, total loss or the,t o, 'ehi!le If the leased !ehicle is stolen or completely destroyed, the con!entional leasing company continues charging the lease rent till the settlement of the Insurance claim. Ander 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 !oid. 1s such, in the abo!e"mentioned e!entualities, Meezan bank does not charge the lease rental.

"aka,ul instead o, /nsuran!e Legally >in accordance to Pakistan's Law and 2egulations@, it is re&uired for all leasing entities to insure the leased assets. 1s such, Meezan Bank insures its leased assets. Meezan Bank insured its assets through Cakaful only, which is the Islamic product for insurance.

&ermissibility ,or &enalty o, 5ate &ayment o, Rent under /slami! Shariah

In most contemporary financial leases, an e$tra monetary amount is charged, in their income, if the rent is not paid on time. Chis e$tra amount is the considered as 2iba and is aram. Ander I#arah, 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. *or this purpose the bank maintains a charity fund where such amounts may be credited and disbursed for charitable purpose. *asi! Features . )ormal /2arah 6/ndus7 &arameters 1sset >!ehicle@ ,wnership Period of facility Periodicity Details

1ll !ariants of Indus ,wnership lays with Meezan Bank limited 8, ; 4 < years Pre"determined monthly rentals Minimum =9D of cost of the !ehicle 1d!ance 2ent : %ecurity deposit Ma$imum <9D of the cost of the !ehicle Processing charges 2s. ;,999:" "aka,ul pro!isioning ;.=<D with tracker *ree Cracker >no installation 4 monitoring charges@ to be Cracker installed in all !ehicles. *ree 1ccidental Beath Co!erage Apto 2s. ;99,999:" Mode of payment Chrough post dated che&ues Uni ue Selling &oints Pakistan's first truly : completely %hariah"compliant Car *inancing %cheme Lowest per month rent Priority deli!ery for all Indus !ariants ><9D@ Lowest processing charges Lowest up front payment *irst rent after one month of deli!ery 1!ailability of Cakaful *ree accidental death co!erage upto 2s. ;99k *ree Cracker >with installation 4 annual monitoring charges@ Competiti!e %er!ice

/S"/S)A
Istisna'a is a contract of sale of specified items to be manufactured >or constructed@, with an obligation on the part of the manufacturer >or contractor@ to deli!er them to the Customer upon completion. Istisna'a is the second e$ception to the rules of sale where a sale is allowed without immediate

deli!ery of the goods sold . 1n Istisna'a contract is permitted only for goods which need to be created through a manufacturing or construction process in!ol!ing labor. It is not permissible that the sub#ect matter of an Istisna'a contract be an e$isting and identified capital asset8 If complete specifications >such as type, kind, &uality and &uantity@ of the sub#ect matter ha!e been gi!en to the manufacturer along with the contract price, the contract cannot be terminated unilaterally by either party once the work on the contract has been started by the manufacturer. Che ultimate purchaser cannot be regarded as the owner of the materials in the possession of the manufacturer for the purpose of producing the sub#ect matter. Che time of deli!ery of goods does not necessarily ha!e to be fi$ed in Istisna'a howe!er, a ma$imum time may be agreed upon between the parties. Apon the deli!ery of the produced sub#ect matter the liability of the manufacturer in respect of the sub#ect matter comes to an end and the liability of the ultimate purchaser begins. It is necessary for the !alidity of Istisna'a that the price is fi$ed with the consent of the parties. Che Istisna'a price can either be paid in ad!ance, or in installments or at the time of deli!ery of goods or e!en after the deli!ery of goods. Che price of Istisna'a transactions may !ary in accordance with !ariations in the deli!ery date. It is permissible to amend the contract price of an Istisna'a contract upwards or downwards, as a result of inter!ening contingencies >*orce Ma#eure@.

It is permissible if it is agreed between the parties that in the case of delay in deli!ery, the price shall be reduced by a specified amount per day. Anlike Murabaha where only raw material can be financed, Istisna'a' can be easily utilized to facilitate payment of o!erheads etc. in addition to the purchase of raw material It is also to be noted that amount paid out as Istisna'a' price to the manufacturer can be used by the manufacturer anywhere he deems fit. It doesn't ha!e to be utilized e$clusi!ely for the production process.

3rder to Manu,a!ture by *ank

%tep ?E Client and MBL enters into an Istisn'a

1greement under which MBL orders the client to manufacture a certain asset for MBL against ad!ance or deferred payment

Bank

,rder to Manufacture
Deli'ery o, Asset by the -lient

Client

%tep =E 1fter manufacturing the asset, the asset, the deli!ered to the bank by the client

Client

Beli!ery of Manufactured 1sset to Bank

Bank

Sale o, Asset in the market

%tep 8E 1fter taking deli!ery bank sells the asset into the market either directly or by appointing someone as his agent

Bank

%ale of 1sset in the Market

Market

A##li!ation ,or /stisn9a

Ideally suited for catering financing needs of a manufacturing concern. %hort term li&uidity management re&uirement of the customer. In can also be used for financing construction of ouses, buildings and factories

SA5AM
/n %alam the seller undertakes to supply specific goods to the buyer at a future date in e$change of an ad!anced price fully paid at spot. Che price is in cash but the supply of purchased goods is deferred.

Chis mode of financing can be used by the modern banks and financial institutions especially to finance the agricultural sector.

&ur#ose o, use+
Co meet the need of small farmers who need money to grow their crops and to feed their family up to the time of har!est. -hen 1llah declared 2iba haram, the farmers could not take usurious loans. Cherefore oly Prophet P.B.A. allowed them to sell their agricultural products in ad!ance. Co meet the need of traders for import and e$port business. Ander Salam, it is allowed for traders to sell the goods in ad!ance so that after recei!ing their cash price, they can easily undertake the aforesaid business. Salam is beneficial to the seller because the price is recei!ed in ad!ance and it is also beneficial to the buyer because the price in Salam is lower than the price in spot sales. Che permissibility of Salam is an e$ception to the general rule that prohibits forward sale and therefore it is sub#ect to strict conditions.