Professional Documents
Culture Documents
&
1947
The inception of Pakistan as the first Islamic Republic
created in the name of Islam.
1949
The Objectives Resolution was adopted by the first
Constituent Assembly based on the ideology of a sovereign
Islamic state. This was the first step in the conception
towards Pakistan’s Constitution.
1956
1962
The establishment of Council of Islamic Ideology (CII) was
followed by the conception of the second constitution of
Pakistan.
1973
1980
CII presents report on the elimination of Interest genuinely
considered to be the first major comprehensive work in the
world undertaken on Islamic banking and finance.
In this period President Zia ul Haq imposed profit and loss
sharing accounts as a compulsion instead of interest bearing
accounts, he also started deduction of Zakat from bank
accounts in Islamic prospect.
1985
1991
&
OTHER ACHIEVEMENTS:
Best Islamic Bank 2005 (Islamic Finance News)
Best provider of Islamic financial services year 2005
Mission Statement
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.
Shariah Board
The members of the Shariah Board of Meezan Bank are
Internationally-renown scholars, serving on the boards of
many Islamic banks operating in different countries.
The members of the Shariah Board are:
Justice (Retd.) Muhammad Taqi Usmani
Dr. Abdul Sattar Abu Ghuddah
Sheikh Essam M. Ishaq
Board of Directors
H. E. Sheikh Ebrahim Bin Khalifa Al-Khalifa
(Chairman)
(Undersecretary, Ministry of Finance & National
Economy, Kingdom of Bahrain)
Naser Abdul Mohsen Al-Marri (Vice Chairman)
Irfan Siddiqui (President & Chief Executive
Officer)
Istaqbal Mehdi
Mohammed Abdul-Rehman Hussain
Nawid Ahsan
Ariful Islam (Chief Operating Officer)
Rana Ahmed Humayun
Mohammed Azzaroog Rajab
Ahmed Abdul Rahim Mohamed
Main office
3rd Floor, PNSC Building, M.T.Khan Road, Karachi-74000,
Pakistan
info@meezanbank.com
www.bankalfalah.com.pk
www.nbp.com.pk
www.askribank.com.pk
www.ubl.com.pk
www.abl.com.pketc
• Bank islami
DEPARTMENTS &
THE PRODUCTS OFFERED
AT THE BRANCH
2- OPERATIONS DEPARTMENT
3- CREDIT DEPARTMENT
4- TRADE FINANCE DEPARTMENT
5- CASH DEPARTMENT
Current account
Saving Account
b) Riba Free Dollar Savings Account
Foreign Currency Account
CURRENT ACCOUNT
Requirements:
Mini deposit::::::::::::::::::::::::::::::::::::: Rs.10,000/- only
Requirements:
Mini deposit::::::::::::::::::::: $100 under Mudarba
arrangement.
CURRENT
SAVING
TERM DEPOSIT
MINOR ACCOUNT
Copy of B form/birth certificate
JOINT ACCOUNTS
As evident from the name these accounts can be jointly
opened by any number of persons. The minimum number of
persons required to open a joint account is two but there is
no maximum limit.
Requirements:
National Identity card of all Applicants.
Any job/business proof of all account holder
Signature of all Applicants.
Zakat Affidavit of all Applicants (zakat Examption).
Operation of account clearly mentioned.
The options available to operate the account are:
Jointly
Either or Survivor
Other(s)(Please specify)
CLUB/SOCIETY/ASSOCIATION/TRUSTS
ACCOUNTS/ [Requirements]:
CORPORATE ACCOUNTS
NRP ACCOUNTS
• NICOP/CNIC
• Visa/passport COPY
• Job/business proof
LETTER OF THANKS
After opening the account “A Letter Of Thanks” is send to
the customer in order to thank the customer for opening an
account in the Bank. This letter tells all the information
regarding his/her account, which are kept very confidential.
Date
Account Number
Name & Address
Telephone Number
Initial Deposit
ACCOUNT OPENING
ACCOUNT CLOSING
EDIT/DEL INFORMATION REGARDING ACCOUNT
GENERAL CLIENT DEALING
2-OPERATIONS DEPARTMENT
FUNCTIONS PERFOMED:
a) CLEARING
b) REMITTANCE
a) CLEARING
Inward clearing
Outward clearing
INWARD CLEARING
In the morning, the bank receives its own cheques, which
have been presented by the customers in some other bank
to be deposited in their account. NIFT provides the facility of
bringing cheques for inward and also takes the cheques of
outward clearing to other banks. The cheques received in
STEP 1: NIFT-BAG
STEP 2: CHEQUES SCRUTINY
STEP 3: POSTING IN SYSTEM
STEP 4: SUPERVISION/AUTHORIZATION
STEP 5: CHEQUES RETURN
STEP 6: RETURN MEMOS+BUNDLE COVER
STEP 7: NIFT-BAG
Date
Title of account
Account number
Cheque number
Bank and Branch name
Reason to return
OUTWARD CLEARING:
All the cheques of other banks which are deposited to MBL
are presented in outward clearing. This is said as outward
clearing because they are presented on the very next day
after depositing a cheque.
SERVICES PROVIDED
I. TRANSFER OF AMOUNT
I. TRANSFER OF AMOUNT
If a MBL customer wants to transfer money from one account
to other MBL account, customer writes a cheque and fills
deposit slip in which he/she writes account number to which
amount is to be transferred. After making transfer entry in
the computer, affix transfer stamp in the middle of the
cheque, crossing on the upper left and signature verified
stamp with senior officer signature near to customer
signature. Then senior officer-1 will authorize this entry.
B. REMITTANCE
a) Pay order
b) Demand drafts
c) Inward collection
d) Outward collection
a) PAY ORDER:
A) Cash
B) Clearing
C) Transfer
PROCEDURE:
In case of pay order first of all the customer has to fill a pay
order application form in favoring section: name, account
number, amount, beneficiary name, address, etc.
The data is entered in already set format of pay order in
computer and pay order print out is taken. An authorized
person and manager operations are signed pay order.
The original copy of the pay order is given to the customer
and carbon copy is kept with bank for office record.
b) DEMAND DRAFT
An order to pay money to the payee who is residing outside
the city. DD can be for a customer who may or may not have
c) INWARD COLLECTION
When the bank receives cheques of any other bank from its
any branch situated in the some other city, then those have
been dealt as inward collection.
PROCEDURE
After receiving the cheque, an entry is made in inward
collection register and then all stamps are affixed on the
cheque (clearing,
LOCKERS
Lockers operations shall not be permitted under power of
attorney of a customer. A customer wishing to allow another
person or agent may be requested to open a new locker
account under joint names and close the existing account.
In offering this facility branches have to be selective and
should provide lockers to the customers whose identity and
integrity is
verified, who should maintain account with the branch and
have potential for deposits and other banking business. It is
reiterated
that honesty, creditability and good reputation of the
customer is of utmost importance in the selection of
customer for lockers.
Procedure
Application on Prescribed Form duly filled
Saving/Current Account with MBL
02 Passport size Photographs
Charges
Key Deposit PKR 3000/
Small PKR 1000/Year
Medium PKR 1500/Year
Large PKR 2000/Year
Locker breaking charges Rs 3000
Tenor
3 Months
6 Months
1 Year
2 Years
3 Years
5 Years
3 Months on maturity
Pre-mature encashment
In case of pre mature encashment the profit rate will be
calculated according to the completed tenor, if extra profit is
paid that will be recovered
Payment of Premium
Bank pay premium from its own share of profit to high
depositors.
Premium Rate
5M 9.99M 1%
10M 29.99M 1.25%
30M 49.99M 1.50%
50M+ 2%
Features:
Minimum requirement of PKR 100K
Profit disbursement on maturity
Tire system for profit payment (Refer Rate Sheet)
No payment on premature encashment
Requirements:
In USD only
Individuals and Corporate
Minimum investment 10K and above
Tenor:
3Months
6Months
1Year
3Years
Features:
Other options:
Provident and Pension Fund of large corporate
Premature encashment facility available
Features:
For Islamic Financial Institutions deposit
To invest their access liquidity
Min. investment PKR 10 M and multiplies there of
Max investment 01 B
3- CASH DEPARTMENT
Scroll book
Paying book
Cash balance book
SCROLL BOOK
When cash is received at the customer it is recorded in the
scroll book.
PERSONAL FINANCING
Easy Home
Easy home works under the Diminishing Musharakah where
customer participates with Meezan Bank in joint ownership.
Purchase
3-20 year
Max. Finance 85%
Construction
2-20 year
Max. Finance 70%
Renovation
2-7 year
Max Finance 85%
Replacement
3-20 year
Eligibility
Pakistani National
Age 25—65 (till maturity)
Salaried person:
2 year of consecutive experience in same industry
Min salary 20 k per month
Business
3 years business experience
Min. business income Rs 50K per month
Processing Charges
Businessmen Rs 12500
Salaried Person Rs 8500
(Up to Rs 4 M, 2000 Additional for above)
Time Frame 3-4 Weeks
Car Ijara
Scope of Facility
Domestic Vehicle (Local made)
Commercial Vehicle (Local+Imported)
Used/Imported Vehicle (1st Transfer only)
Rates offered:
(For New) (For used)
3 year 14% 15%
4 year 15% 15.50%
5 year 16.50% 18%
Eligibility:
Key Features
Check account balances
Instruct issuance of pay orders and demand drafts
Transfer funds between your own accounts
Order issuance of cheque book
Check transaction history of accounts
Receive information on MBL products and services
Internet Banking
Internet Banking allow to have access to accounts
regardless of where they may be in the world.
Key Features
Balance inquiry
Statement viewing
Statement download
Cheque status
Cheque blocking
Pay order request
Complaint logging and follow-ups
Funds transfers between own accounts at MBL
Change of address request
Cheque book request
Strengths:
Effective HR Policies.
ATM Machine in Branches.
One Counter Operation.
Islamic Banking.
Loyalty of Employees.
24/7 Online Banking.
Internet banking facility.
Excellent Environment.
Efficient and Qualified Management.
Fewer Competitors as Islamic Banking.
A large range of Islamic Investment Schemes.
Islamic Leasing System.
No hidden charges.
Rates are remarkably low as compared to other
banks.
Very High credit rating.
Opportunities:
More and more people are coming towards
Islamic Banking System.
Introduction of innovative products.
New Market Segments for ijara, i.e. Home
Appliances Products.
Open New Braches in other small areas.
Threats:
Islamic banks are Increasing.
Traditional commercial banks are also
introducing the Islamic Banking Facility.
Personal Loan Scheme of other banks.
New Innovative Schemes by Other Islamic
banks.
FINANCIAL HIGHLIGHTS
Balance Sheet as on March 31, 2007
90.05 % 89.74 %
Comments:
11.87 11.03
1187 % 1103 %
Comments:
0.383 % 0.391 %
Comments:
6.8 % 6.3 %
Comments:
5.42 % 4.80 %
Comments:
This ratio shows the profit in terms of equity.
This profit is increasing gradually year after year as shown
above. As there is no change in total equity, but the profit
ratio increased. It shows the efficient operations an
allocation of resources, as a result, the return on the equity
is increased.
Comments:
OVERALL CONCLUSION