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INTRODUCTION
The Bank commenced operations in 2002, on being issued the first-ever Islamic commercial
banking license by the State Bank of Pakistan. In 2012 Meezan Bank completed a milestone of
10 years of Islamic Banking in Pakistan
Meezan Bank offers a range of personal and corporate Islamic banking products and services
through a retail banking network of over 385 branches in 109 cities. Backed by a state-of-the art
T-24 core banking system, the branch network is supported by 24/7 banking services. 281
ATMs, Meezan VISA Debit Cards, Internet Banking, SMS alerts and a 24-hour Call Center.
PRODUCT SELECTED:
Current Account:
Meezan Current Account is a Rupee-based current account that provides you the convenience
of putting your money in a Riba-free account
VISION:
MISSION:
To be a premier Islamic bank, offering a one-stop shop for innovative value-added products and
services to our customers within the bounds of Shariah, while optimizing the stakeholders value
through an organizational culture based on learning, fairness, respect for individual enterprise
and performance.
SERVICE MISSION:
To develop a committed service culture which ensures the consistent delivery of our products
and services within the highest quality service parameters, promoting Islamic values and
ensuring recognition and a quality banking experience to our customers.
BUSINESS SCOPE
MARKET
Since large population are practicing Muslims belonging increasingly aware of
prohibition of interest in Islam.
Non-Muslims as well.
Customers who believe in Interest free banking
CUSTOMERS
Conventional current account holders.
Uncatered customers
BOUNDARIES
Within Shariah principles.
MARKET STRUCTURE
End Users
Current Account
Channels
Branches
Designated Marketing
CHANGES EFFECTS
Increase numbers of branches in Normally remote areas are covered by few
remote areas of Baluchistan, KPK and banks including NBP, MCB and HBL with low
other areas with strong business standard of services usually and only enjoying
activities that deposit base of customers and also that of
Increase branch network in urban their counter parties due to coverage in those
areas remote areas which can also be captured.
In urban areas customers prefer nearby
branches due to law and order situation, which
is also helpful in capturing those customers.
MARKET SEGMENT
(Historical growth of Industry)
FUTURE GROWTH
PROFITABILITY ANALYSIS
DRIVING FORCES
MEASURING GAP & ACTION PLAN
STRATEGIC COST
The Bank has already met its minimum capital requirement of Rs. 10 billion
Commercial Banking business targets the 'middle-market' segment of customers
Commercial Banking business segment by 85% in 2013
The Bank also entered the Agriculture sector and set up a dedicated Agriculture Unit.
SWOT ANALYSIS
STRENGTHS
Interest free banking
Pioneer in the industry of Islamic Banking, Market leader
Authentic and Credible Shariah board with members consist of famous religious
scholars.
High market coverage as compared to its competitors
An acquisition of conventional Bank (HSBC) has increased its reputation and goodwill.
WEAKNESSES
Numbers of branches are less in rural areas.
Customer service needs improvement.
No global coverage discourages big customers.
Clearing time of foreign transactions is lengthy.
No benchmarking available in the market using conventional banking benchmarks.
Limited availability of human resources with Islamic banking knowledge
OPPORTUNITIES
Convert conventional current account holders to MBL customers.
Awareness to uncatered customers, as people are still fully not aware regarding Islamic
banking principles.
Awareness to Islamic Institutions regarding their practices. • Currently, State bank is
targeting banks with lower equity (KASB), so MBLS’s high equity can be used as an
added advantage to attract new customers.
Mergers with Telecom industry for mobile banking (easy paisa etc) can be done.
Increase in the no. of branches in rural areas
THREATS
Banks converting to Islamic banking from conventional banking, growing competition.
Mobile banking technology is increasing in the world and can act as a threat to MBL.
Misconceptions and misunderstandings among the general public about Islamic
banking.
Government restrictions on Islamic banking.
Non availability of conventional banking products (credit cards etc). S W TO SWOT
ANALYSIS
RECOMMENDATIONS