Meezan Bank

The objectives of the distribution of wealth in Islam
If we consider the injunctions of the Holy Quran, it would appear that the system
for the distribution of wealth laid down by Islam envisages three objects:
a) The establishment of a practicable system of economy:

The first object of the distribution of wealth is that it would be the means of
establishing in the world a system of economy which is natural and practicable,
and which, without using any compulsion or force, allows every individual to
function in a normal way according to his ability, his aptitude, his own choice and
liking, so that his activities may be more fruitful, healthy and useful. And this
cannot be secured without a healthy relationship between the employer and the
employee, and without the proper utilization of the natural force of supply and
demand. That is why Islam does admit these factors. A comprehensive indication
of this principle is to be found in the following verse: -
The condition of "proper utilization" has been assumed because it is possible to

make an improper use of forces, and it has been the case under Capitalism.
Islam has struck at the very root of such an improper use and has thus
eradicated the unbridled exploitation of private property.
''We have distributed their livelihood among them in worldly life, and have raised
some above others in the matter of social degrees, so that some of them may
utilize the services of others in their work." (43:32)
b) Enabling every one to get what is rightfully due to him:

The second object of the Islamic system of the distribution of wealth is to enable
everyone to get what is rightfully his. But, in Islam, the concept and criteria of this
right is somewhat different from what it is in other systems of economy. Under
materialistic economic systems, there is only one way of acquiring the right to
''wealth'', and that is a direct participation in the process of production.
In other words, only those factors that have taken a direct part in producing
wealth are supposed to be entitled to a share in "wealth", and no one else. On
the contrary, the basic principle of Islam in this respect is that "wealth" is, in
principle the property, of Allah Himself and He alone can lay down the rules as to
how it is to be used. So according to the Islamic point of view, not only those who
have directly participated in the production of wealth but those to whom Allah has
made it obligatory upon others to help, are the legitimate sharers in wealth.
Hence, the poor, the helpless, the needy, the paupers and the destitutes - they
too have a right to wealth. For Allah has made it obligatory on all those producers
of wealth among whom wealth is in the first place distributed that they should
pass on to them some part of their wealth. And the Holy Quran makes it quite
explicit that in doing so they would not be obliging the poor and the needy in any
way, but only discharging their obligation, for the poor and the needy are entitled
to a share in wealth as a matter of right. Says the Holy Quran:
"In their wealth there is a known right for those who ask for it and those who
have need for it.” (70:24-25)
In certain verses, this right has been defined as the right of Allah. For example:
“And pay what is rightfully due to Him on the day of harvesting." (6:142)
The word "right" in these two verses makes it clear that participation in the
process of production is not the only source of the right to ''wealth'', and that the
needy and the poor have as good a right to "wealth" as its primary owners. Thus
Islam proposes to distribute wealth in such a manner that all those who have
taken a part in production should receive the reward for their contribution to the
production of wealth, and then all those too should receive their share that Allah
has given a right to "wealth".
c) Eradicating the concentration of wealth:
The third object of the distribution of wealth, which Islam considers to be very
important, is that wealth, instead of becoming concentrated in a few hands,
should be allowed to circulate in the society as widely as possible, so that the
distinction between the rich and the poor should be narrowed down as far as is
natural and practicable. The attitude of Islam in this respect is that it has not
permitted any individual or group to have a monopoly over the primary sources of
wealth, but has given every member of the society an equal right to derive benefit
from them. Mines, forests, un-owned barren lands, hunting and fishing, wild
grass, rivers, seas, spoils of war etc., all these are primary sources of wealth.
With respect to them, every individual is entitled to make use of them according
to his abilities and his labor without anyone being allowed to have any kind of
monopoly over them.
"So that this wealth should not become confined only to the rich amongst you”.
(59:7)
Beyond this, wherever human intervention is needed for the production of wealth
and a man produces some kind of wealth by deploying his resources and labor,
Islam gives due consideration to the resources and labor thus deployed, and
recognizes man's right of property in the wealth produced. Every one shall get his
share according to the labor and resources invested by him. Says the Holy
Quran:
“We have distributed their livelihood among them in worldly life, and have raised
some above others in the matter of social degrees, so that some of them may
utilize the services of others in their work". (43:32)
But, in spite of this difference among social degrees or ranks certain injunctions
have been laid down in order to keep this distinction within such limits as are
necessary for the establishment of a practicable system of economy, so that
wealth should not become concentrated in a few hands.
Of these three objects of the distribution of wealth, the first distinguishes Islamic
economy from Socialism, the third from Capitalism, and the second from both at
the same time.
History of Islamic Banking
"Seek the other world by means of what Allah has bestowed upon you"
(28:77) The Holy Quran
"We must work our destiny in our own way and present to the works an economic
system based on true Islamic concept of equality of manhood and social
justice"Quaid's concept of Islamic Banking [Opening Ceremony of The State
Bank of Pakistan on July 1, 1948]
"Establish Islamic banking as banking of choice to facilitate implementation of an

equitable economic system, providing a strong foundation for establishing a fari
and just society for mankind"Vision, Meezan Bank Limited
1947
The inception of Pakistan as the first Islamic Republic created in the name of
Islam.
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.
1985
Commercial banks transformed their nomenclature stating all Rupee Saving
Accounts as interest-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 interest 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.
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
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 assetsof Islamic
banking reached Rs. 271.1 billion in December 2008 compared to Rs. 205.2
billion in December 2007.
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)
Justice (Retd.) Muhammad Taqi Usmani (Chairman)
Justice (Retd.) Muhammad Taqi Usmani is a renowned figure in the field of Shariah,
particularly in Islamic Finance. He currently holds advisory positions in a number of
financial institutions practicing Islamic Banking and Finance.
Justice (Retd.) Muhammad Taqi Usmani has vast experience in Islamic Shariah,
teaching various subjects on Islam for 39 years. He has served as a Judge in the Shariat
Appellate Bench, Supreme Court of Pakistan from 1982 to 2002. He is also the Editor of
the magazine Albalagh (a weekly publication of Jamia Darul Uloom, Karachi) as well as
an active contributor of articles in leading Pakistani newspapers.
Born in Pakistan, Justice (Retd.) Muhammad Taqi Usmani graduated from Punjab
University, Pakistan in 1970 and also holds an LLB from Karachi University, Pakistan.
Prior to these, he completed the Takhassus course, which is the specialization course of
Islamic Fiqh and Fatwa (Islamic Jurisprudence) from Jamia Darul Uloom Karachi,
Pakistan.
In March 2004, His Highness Sheikh Mohammad Bin Rashid Al Maktoum (Dubai Crown
Prince and UAE Minister of Defense) presented a special award to Justice (Retd.)
Muhammad Taqi Usmani in recognition of his lifetime service and achievement in
Islamic Finance at the occasion of International Islamic Finance Forum, Dubai, which is
one of the biggest events in Islamic Finance Industry.
Other positions currently held:
• Permanent Member International Islamic Fiqh Academy, Jeddah, Saudi Arabia

• Vice President, Darul Uloom Karachi, Pakistan
• Chairman, Council AAOIFI, Bahrain
• Member and Former Chairman, Islamic Fiqh Academy of Rabita-al-Alam-e-Islami,
Makkah, Saudi Arabia
• Member, European Council of Fatwa and Research, Dublin, Ireland
• Chairman, Center for Islamic Economics Pakistan
• Chairman, Board Dow Jones Islamic Market Index, New York, USA
• Chairman, Board, Bahrain Monetary Agency, Bahrain
• Chairman, Board, Amana Investments Limited, Sri Lanka
• Chairman, Board Abu Dhabi Islamic Bank, UAE
• Chairman, Board Islamic House of Britain plc, UK
• Member, Board, First Islamic Investment Bank, Bahrain
• Member Board, Islamic Corporation for Development of the Private Sector, (an organ of
IDB), Jeddah, Saudi Arabia
• Chairman, Board Islamic Financial Services Board.
• Chairman, Board International Islamic Rating Agency
• Member Board, Guidance Financial Group, USA
Dr. Abdul Sattar Abu Ghuddah

Dr. Abdul Sattar Abu Ghuddah is the Advisor and Director, Department of Financial
Instruments at Al-Baraka Investment Co. of Saudi Arabia. He holds a PhD in Islamic Law
from Al Azhar University Cairo, Egypt. He is an active member of Islamic FiqhAcademy
and the Accounting & Auditing Standards Board of Islamic Financial Institutions.
Dr. Abdul Sattar teaches Fiqh, Islamic studies and Arabic in Riyadh and has done a
valuable task of research and compiling information for the Fiqh-Encyclopedia in the
Ministry of ‘Awqaf’ and Islamic Affairs, Kuwait. He has been a member of the ‘Fatwa’
Board in the same Ministry from 1982 to 1990.
• Member Board, Dow Jones Islamic Market Indexes, USA

• Member Board, UBS, Switzerland
• Member Board Guidance Financial Group, USA
• Member Board, Saudi American Bank, Saudi Arabia
Sheikh Essam M. Ishaq

Born in Bahrain Sheikh Essam M. Ishaq graduated in Political Science from McGill
University, Montreal, Canada. Currently he is teaching Fiqh, Aqeeda and Tafseer
courses in Bahrain. He holds the position of Advisor at Discover Islam, Bahrain. He
holds position of Director in a number of Business and Educational institutions, which
include:
• Al Baraka Islamic Bank, Bahrain

• Bahrain Development Bank, Bahrain
• Discover Islam, Bahrain
• Middle East Traders, Bahrain
• Zawaya Property Development, Bahrain
• Al Iman Islamic School, Bahrain
• Muslim Educational Society, Bahrain
• Member Supervisory Board, First Islamic Investment Bank, Bahrain
Dr. Muhammad Imran Ashraf Usmani (Advisor)

Dr. Muhammad Imran Ashraf Usmani is a M. Phil and Ph. D. in Islamic Finance and is a
graduated as a scholar from Jamia Darul Uloom, Karachi, Pakistan. He has also
completed the specialization course in Islamic Jurisprudence from Jamia Darul Uloom,
Karachi, Pakistan. Currently he is involved in conducting training sessions for Meezan
Bank's staff in the area of Islamic finance and has been teaching several subjects of
Islamic Fiqhsince 1998 at Jamia Darul-Uloom, Karachi, Pakistan. Dr. Usmani has also
authored various books on Islamic and especially his book Meezan Bank's Guide to
Islamic banking has been the guiding light in the area of Islamic Banking.
• Member, Board, State Bank of Pakistan

• Member, Supervisory Board, Credit Suisse Bank, Switzerland
• Advisor and Board Secretary, Guidance Financial Group, USA
• Advisor, DCD Financial Group, UK
• Member of Board, Lloyds TSB Bank, UK
• Member of Advisory / Member of Supervisory Board, HSBC Amanah (Global)
• Member, Board, Future Growth Fund, South Africa
• Advisor/ Member of Supervisory Board ABN AMRO Bank (Global)
• Advisor/ Member of Supervisory Board Japan Bank of International Corp (Global)
• Member of Supervisory Board AIG Insurance Company (Global)
• Member of Supervisory Board Pak Kuwait Takaful Company Ltd.
• Executive Director (Administrator), HFS Project and Mutawassita classes, Jamia Darul
Uloom Karachi
Board of Directors
The Board of Directors of Meezan Bank are:
• H. E. Sheikh Ebrahim Bin Khalifa Al-Khalifa (Chairman)

(Minister of Housing, Ministry of Housing, Kingdom of Bahrain)
• Naser Abdul Mohsen Al-Marri (Vice Chairman)
• Irfan Siddiqui (President & Chief Executive Officer)
• Ariful Islam (Chief Operating Officer)
• Rana Ahmed Humayun
• Mohammed Azzaroog Rajab
• Ahmed Abdul Rahim Mohamed
• Nawal Ahmed
• Jassar Dakheel Al-Jassar

The Meezan Team
Meezan Bank is managed by a team of professional bankers committed to the

cause of Islamic Banking. This single unifying factor unleashes the tremendous
power of a dedicated and motivated team committed to fulfilling the Vision and
Mission of this Bank.
The business segments of the Bank are:
• Corporate and Investment Banking

• Commercial and SME
• Consumer Finance
• Treasury & Financial Institutions
• Asset Management (managed through a subsidiary Al Meezan Investment
Management Limited.)
• Retail Banking is organized in three Regions across Pakistan, namely South
Region , Central Region and North Region.
Shareholding Structure
Rs. in
Share Holders %
million
Noor Financial Investment

2,242 45.51
Company, Kuwait
Pakistan Kuwait Investment

1,478 30.00
Company (Pvt.) Limited
Islamic Development Bank,

459 9.32
Jeddah
Others 747 15.17

Paid up Capital 4,926 100 %
Our Vision
Establish Islamic banking as banking of first choice to facilitate

the implementation of an equitable economic system,
providing a strong foundation for establishing a fair and just
society for mankind.
Our 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.
Our 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.
Meezan's Branch Network
Alhamdolillah, Meezan Bank has established 166 branches in 40 cities across Pakistan.
This is a milestone that is not only the success story of Meezan Bank but also the
continuing success story of Islamic Banking in Pakistan. With this extensive network, our
existing and potential customers are now closer than ever in attaining Islamic Banking at
their doorstep. All branches provide real time online banking facilities to customers.
As the first and largest dedicated Islamic Bank in Pakistan, Meezan Bank team
continues to build on its Vision of establishing "Islamic Banking the Banking of First
Choice". One of the key objectives of the Bank is to have its footprint strategically placed
throughout the country enabling the public to avail the benefits of Shariah Compliant
Banking in their neighborhood.
The Bank is currently segmented into three Regions of Pakistan. The cities in
which the Bank presently operates are as follows:
Southern Region Central Region Northern Region

Hub (Lasbela) Bahawalpur Abbottabad
Hyderabad Daska Dera Ismail Khan
Karachi Dera Ghazi Khan Gujar Khan
Nawabshah Faisalabad Haripur
Quetta Gojra Islamabad
Sakrand Gujranwala Kohat
Sukkur Jhang Mansehra
Tando Adam Kasur Mardan
Tando-Allah-Yar Lahore Muzaffarabad
Mandi Bahauddin Peshawar
Mian Channu Rawalpindi
Multan Swat
Okara
Rahim Yar Khan
Sadiqabad
Sahiwal
Sargodha
Sheikhupura
Sialkot
• Rupee Current Account
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 provides customers both
ease of utility and unmatched service quality.
Key features of the Riba -Free Current Account
• Free Online Banking services at all Meezan Bank branches nationwide

• Instant access to funds at any online branch
• No restriction on withdrawals or number of transactions
• Bank balance certificates & duplicate statements of account
• Stop Payment & Hold Mail instructions
• 24/7 Card your ATM & Debit Card in one
• 24/7 Call Center with complete Tele-banking services
• Personal financial consultancy services
• Specialized 8 to 8 Banking at selected branches
• Rupee Saving Account

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 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 account= 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:
• Instant access to funds at any online branch.

• No restriction on withdrawals or number of transactions
• Bank balance certificates & duplicate statements of account
• Stop Payment & Hold Mail instructions
Profit Rates are applicable for profit calculation on average monthly balance
between the period February 01, 2009 to February 28, 2009
Average Monthly Balance (PKR) Profit Rates (% per annum)

On Average Monthly Balance 4.99%
Dollar Saving Account – DSA
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 you maintain a minimum average monthly balance of $ 500, you shall
be eligible to receive profits that shall be disbursed to you every month
Applicable for profit payment on average monthly balances between the period
February 01, 2009 to February 28, 2009
Period Monthly Profit Rates (% per annum)

On Average Monthly Balance 0.84%
Meezan Bachat Account
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.
With a Meezan Bachat Account, you are entitled for a higher the profit with a
higher account balance. You receive profit even if your balance falls below Rs.
25,000/- in any one month. Profit is credited to your 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:
Highest expected rate of return
• Riba-free profit paid every month

• Minimum balance for account opening is just Rs.25,000/-
• Maximum balance limit for getting highest profit rate is Rs. 1,000,000/-
• Personal financial consultancy services.
•
Profit Rates are applicable for profit calculation on minimum monthly
balance between the period February 01, 2009 to February 28, 2009
Minimum Monthly Balance (PKR) Profit Rates (% per annum)

1-24.999K 4.99%
25K-199.99K 6.22%
200K-499.99K 7.31%
500K-1M 8.40%
Above 1M 0.07%
Karobari Munafa Account
Karobari Munafa is a 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.
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
our Shariah Advisor and the Shariah Supervisory Board
Applicable for profit calculation on daily account balances between the

period February 01, 2009 to February 28, 2009 (for KMA & KMA Plus both)
KAROBARI MUNAFA ACCOUNT

Daily Account Balance (PKR) Profit Rates (% per annum)
1 Million - 4.99 Million 5.53%
200 Million and above 9.02%
KAROBARI MUNAFA ACCOUNT PLUS

Daily Account Balance (PKR) Profit Rates (% per annum)
50 Million - 99.99 Million -
500 Million and above -
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 /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 Mal) 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.
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.
Certificate of Islamic Investment
The Riba Free Certificate of Islamic Investment Certificate is a Shariah

compatible investment certificate with a minimum investment of Rs. 50,000 and
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

• Withdraw your investment any time during the course of your investment.
(Profit shall be paid only after completion of one month of investment)
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. We invite you to
visit any of our branches to experience the comfort of our personalized service.
To make an investment the 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
• High and very competitive returns

• Long-term security ensured
• Pre-mature withdrawal options available
• Free Online Banking services at any of our branches
Certificate of Islamic Investment - COII
Profit Rates are applicable for profit payment on investments maturing between
the period February 1, 2009 to February 28, 2009
% per annum
Profit Rates at
Tenures Monthly Rates Quarterly Rates
Maturity
Three Months 7.11% - -
Six Months 7.86% - -
One Year 9.98% 7.99% 8.47%
Two Year 10.25% 7.79% 8.68%
Three Year 10.73% 8.20% 9.02%
Five Year 12.50% 9.09% 10.11%
Meezan Amdan Certificate

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.
Working under the principles of Mudarabah, the Meezan Aamdan Certificate and
is strictly in conformity with the rules of Islamic Shariah. Profit calculation and all
our Shariah Advisor and the Shariah Supervisory Board.
Key Features

• Ensured Long-term security
• 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.
• Pre-mature withdrawal options available.
• Free cheque book
• Free ATM withdrawals on investment of Rs.500,000/- and above ( 5 per month)
• Free Internet banking facility
•
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.
Make an appointment with our officer to assist you in making an investment or
call our 24/7 Call Center to answer any of your queries.
Meezan Amdan Certificate – MAC
Period Monthly Profit Rates (% per annum)

5 1/2 years 11.96%
7 years 14.14%
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.
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, our sterling track record shows consistently beneficial
and highly competitive returns for our broad range of investors.
Finally, comes the benefit of truly Halal returns, a benefit you may not have had
the opportunity to enjoy before and one that you 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 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
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 between
Profit Rates at maturity (% per

Period
annum)
Two Year -
Three Year 10.11%
Five Year 11.82%
Seven Year -
Period 6 Monthly Profit Rates (% per

annum)
Two Year -
Monthly Mudarabah Certificate
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.
Working 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.
The weightages used for profit calculation of the Monthly Mudarabah

Certificate are in the following tiers:
• Rs. 100K up to Rs. 4.99 Mn
• Rs. 5.00 Mn up to Rs. 9.99 Mn
• Rs. 10 Mn up to Rs. 49.99 Mn
• Rs. 50 Mn up to Rs. 99.99 Mn
• Rs. 100 Mn up to Rs. 499.99 Mn
• Rs. 500 Mn & above
Additional Features
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 us
• Bank balance certificates
Invest in a Monthly Mudarabah Certificate
Just fill in the Account Opening Form and bring in the required documents. After
opening of an account, you can get your certificates and enjoy our personalized
banking services.
Make an appointment with our officer to assist you in making an investment or

call our 24/7 Call Center to answer any of your queries.
Monthly Mudarbah Certificate – MMC
Profit Rates are applicable for Monthly Mudarbah Certificate balances between
Average Monthly Balance (PKR) Profit Rates (% per annum)

100K & Above 7.24%
Dollar Mudarabah Certificate
The Riba Free Dollar Mudarabah Certificate is a flexible dollar based investment
which has been designed under the principles of Mudarabah and is strictly in
conformity with the rules of Islamic Shariah.
The 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

• Six monthly profit payment to your current or saving account with us
• Long-term security ensured. Minimum investment amount: USD 10,000/-
• Available tenures of 3 months, 6 months, 1 year, and 3 years
• Bank balance certificates
Dollar Mudarbah Certificate - DMC
Period Profit Rates (% per annum) 10K - 49.9K

Six Monthly Maturity
Three Months - 1.44%
Six Months - 1.57%
One Year 1.62% 1.70%
Three Year 1.75% 1.83%
Period Profit Rates (% per annum) 50K & Above

Six Monthly Maturity
Three Months - 1.62%
Six Months - 1.70%
One Year 1.75% 1.83%
Three Year 1.89% 1.92%
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.
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.
Key Features of Car Ijarah
• 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
Easy Home
Welcome to Pakistan’s long awaited 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. Meezan
Bank’s Easy Home is the answer you’ve been waiting for.
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.
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.
Buy, Build, Renovate, or Replace!
• Buying a Home is Easy & Halal!
• Choose it and be ready to move in. Meezan Bank will finance up to

maximum of 70%(Salaried, SEP, NRP) of the appraised value of your new
home or up to a value of Rs. 40 million, and a maximum of 60%
(Businessman) up to a value of Rs 5 Million with a financing tenor of up to
20 years.
• Building a home is Easy & Halal!
• For that special home you want to build yourself. Meezan Bank provides
financing up to 70%(salaried, SEP, and NRP) of the appraised value or
Rs. 40 million, and a maximum of 60%(Businessman) up to a value of Rs
5 Million for a tenor of up to 20 years.
• Renovating your home is Easy & Halal!
• Making your home even better or just repairing it. Meezan Bank helps with
financing up to 30% and a financing tenor of up to 15 years.
• Replacing your existing Mortgage is Easy & Halal!

The wait is over. Now continue to enjoy your home but with the added
satisfaction and peace of mind you have 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. Financing up to Rs. 40
million(Salaried, SEP, NRP) and Rs 5 million(Businessman) and a tenor of
up to 20 years.
Special Benefits of Easy Home
• 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
• 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.
Come and take the step towards Riba-Free financing for your home, made easy
with Meezan Bank's Easy Home!
Non-Resident Pakistani Banking
Welcome to Meezan Bank’s Non-Resident Pakistani Banking! Where you are

important and your needs exclusive. Our Remittance services are simple and
reliable. They are available at your doorstep through a wide and efficient network
of corresponding banks worldwide. Only leading global financial institutions form
this network of correspondent banks.
Advantages of Meezan Home Remittance:
• Quick Remittance in major currencies i.e USD, GBP, EUR, JPY, CHF,
SGD, AUD
• Extensive branch network in all major cities of Pakistan
• Instant online transfer within our branch network without any charges
• Free Internet banking facility
Easy Guidelines for Money Transfer
If you wish to remit money to Pakistan, simply give instructions to your existing
bank for money transfer by providing the name of your preffered Meezan Bank
branch and beneficiary account number.
Debit Card
• The purchase limit on your Debit Card is PKR 50,000 per day, subject to
sufficient funds being in your selected account to cover your transaction.
• Never tell your 4-digit PIN CODE to the merchant, always enter it yourself.
At merchandising outlets, make sure that your ATM / Debit card is swiped only
ONCE, in your presence, and on an Orix machine.
Corporate Banking Customers

You are a Corporate Banking Customer if You need funded and
non-funded lines of over
• Your annual sales turnover is Rs. 800 million or Rs. 150 millionAs the
more first and largest Islamic
Bank in Pakistan, we
are dedicated to providing you Shariah-Compliant financing. With our extensive
and dynamic product portfolio, we are continuously working not only to improve
and strengthen our customer relationships but to further provide new and better
products and services to our customers.
Choose from our range of products that suits your needs:

• Working Capital Finance
• Project Financing, Expansion or BMR Requirments
Islamic Export Refinance Facility
• Trade Related Services
Working Capital Finance Solutions

for short term financing requirements
Part of the wide range of Shariah complaint solutions for our customers are
Murabaha 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 Mudarabah or Istisna’a to meet your
financial needs.
Murabaha
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 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.
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.
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.
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.
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.
Islamic Export Refinance Facility

The launch of this product made Meezan Bank the first Islamic bank in Pakistan
to offer Refinance facilities with complete compliance to Shariah. This product
provides for all the unique requirements of exporters and is available in both
Part-I and Part-II as per the original Export Refinance Scheme of the State Bank
of Pakistan.
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:
• Letter of Guarantee Facility
• 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
Usance Letter of Credit
Commercial Banking Customers
You are a Commercial Banking Customer if:
• Your annual sales turnover is over Rs. 300 million but less than Rs.
800 million
You need funded and non-funded lines of over Rs. 75 million but less than Rs.
150 million
As the first and largest Islamic Bank in Pakistan, we recognize the significance of
the Commercial Banking sector in the country and the diverse business needs.
Catering to the need for Shariah Compliant financial solutions in this sector, our
evergrowing commercial banking clientele covers medium-size industries,
traders, importers, exporters and distributors.
Choose from our range of products that suits your needs:
• Working Capital Finance

• Project Financing, Expansion or BMR Requirments
• Islamic Export Refinance Facility
• Trade Related Services
Small & Medium Enterprise (SME)

You need funded and non-
You are a SME Banking Customer if: funded lines of upto Rs. 75
million
• Your annual sales turnover is upto Rs. 300
million As the first and largest
Islamic Bank in Pakistan, we are proud to be providing financial solutions for the
needs of the Small and Medium Enterprise Sector (SME) in the country. SMEs
are categorized in Pakistan as Trading and Service concerns employing
maximum 50 staff and having total assets (excluding land and building) of Rs. 50
million (max) and the Manufacturing concerns employing maximum 250 staff and
having total assets (excluding land and building) of Rs.100 Million (max). The
growth in the SME sector in Pakistan in recent years has been a major
contributor to the growth in the national economy. Meezan Bank is committed
towards developing tailored financial solutions and expanding our footprint in the
SME sector.
Investment Banking
Realizing the increasingly diverse needs of our customers for advisory and
structured finance transactions, a specialized unit focusing on Investment
Banking has been established at Meezan Bank. The Investment Banking
department provides unique structuring capability using complex Shariah
structures for transactions so as meet customer need. Meezan Bank as
torchbearer of Islamic Banking has made a significant contribution in the
Investment Banking industry by playing leading roles in business transactions
amounting to PKR 53 billion in the year 2007.
Key Services
• Syndication Structuring
• Privatization Mandates
• Mergers & Acquisitions
• Advisory Services
Treasury
Meezan Bank’s treasury is guided by Shariah with the objective of reviewing,
streamlining, and controlling the bank’s domestic and international treasury
related operations. Treasury caters to the branches and customers for their entire
foreign exchange requirement with efficiency and professionalism. Ready/ spot
as well as all forward cover services are provided to branches/customers within
Shariah guidelines. Customers are also provided advice on a regular basis about
the currency movement by our dealing room augmented by market outlook
(without any commitment & obligation)
Treasury has enhanced its market activity with increased depth and enhanced
volumes, making an impact in the inter-bank FX market. Due to its good
relationship with other treasuries, the institution has the ability to generate
sufficient amount of liquidity at a time through inter-bank market on Shariah-
approved Musharaka basis.
Meezan Bank conducts Commodity Murhaba transaction to optimize its returns

on its dollar portfolio, besides participating in local/ international sukuk issues,
e.g. WAPDA, Qatar, Dubai sukuks, etc. This treasury is the only treasury in
Pakistan with a mandate to provide Shariah compliant investment opportunities
in capital market that provides halal income ultimately to shareholders
Financial Institutions
Financial Institutions, part of Treasury and F.I. Group, primarily focuses on
building and maintaining relationships. Relations range from authenticated
communication links by way of SWIFT BKE to Trade, Treasury and account
maintenance in different currencies worldwide. With over 172 banks in 91
countriies, our 494 globally located correspondents provide all trade services
seeking to add value and service to our branches and functional units. Services
include advising, confirmation, discounting of letter of credits, reimbursement
undertakings and standby LCs and guarantees. Further, the ever-increasing BKE
relationships with financial institutions serves to route all kinds of transactions.
Corresponding Network
Our network of correspondent banks comprises of leading financial institutions

around the globe. For your convenience we have defined type of services
provided by our correspondent banks in terms of Remittance & Payments (R/P),
Advising (Adv) & Confirmation (Conf).
MIIDA
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 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 :
o 24 hrs. notice for PKR 50 - 200M deposit
o 48 hrs. notice for 200M+ deposit
• Profit disbursed on a monthly basis
• Profit calculated on daily product basis
Meezan Islamic Institution Deposit Account – MIIDA
Profit Rates are applicable for profit calculation on daily account balances
between the period February 01, 2009 to February 28, 2009
Tier (PKR) Profit Rates (% per annum)

10 million to 199.99 million 6.76%
200 million to 399.99 million 7.31%
Above 400 million 8.20%
Asset Management
The Asset Management and Investment Advisory Arm of Meezan Bank
Limited
Al Meezan Investment Management Limited (Al Meezan Investments), the asset

management and investment advisory arm of Meezan Bank Limited, specializes
exclusively in the development and management of Shariah compliant products.
Al Meezan Investments has one of the longest and the most successful track
record of managing mutual funds in the private sector, spanning over twelve
years.
Al Meezan Investments is presently managing five funds

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
and Meezan Tahaffuz Pension Fund (MTPF), a Voluntary
Pension Scheme. The total size of the five funds under
management as at December 31, 2007 was over PKR 15
billion as compared to PKR 6.5 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 its peers and
consequently build the investor confidence.
In continuation with our endeavor to provide Shariah compliant investment

solutions, very soon we will be launching yet another specialized product Meezan
Capital Protected Fund-1(MCPF-1). MCPF-1 provides investment opportunity to
the investors who desire high level of protection of their capital, willing to invest
for relatively longer period and want to get benefit of any gain from investment
made by the fund in the stock market.
Al Meezan Investments is ranked among the best performing asset management

companies in Pakistan. The fund wise break up of net assets as at December 31,
2007 is as under:
NET ASSETS
PKR (Millions)
FUND
December 31, 2007
Meezan Islamic Income Fund 6,776
Meezan Islamic Fund 4,613
Meezan Balanced Fund 1,467
Al Meezan Mutual Fund 2,041
Meezan Tahaffuz Pension Fund 168
Al Meezan Investments has also achieved Management Quality Rating “AM2”,

assigned by JCR-VIS. AM2 denotes high management quality rating. All the
funds of Al Meezan Investments with a minumum one year track record have 5-
Star rating which is the highest possible rating and denotes superior performance
relative to its peers.
The Shariah Advisor of Meezan Bank Limited, also being the Shariah Advisor of
Al Meezan Investments, supervises the operations in order to ensure Shariah
compliance of the funds. In addition to the quality service, Shariah compliance
and impressive performance in terms of returns to investors, Al Meezan
Investments 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 best global practices in asset

management.
Units of all open end funds are available at the offices of Al Meezan Investments
and all branches of Meezan Bank Limited (MBL) across Pakistan. For the
convenience of investors, Al Meezan Investments has placed dedicated
investment officers at the selected branches of MBL. These officers provide
guidance and assist the investors in meeting their investment objectives.
Corporate Advisory & Structured Finance
Realizing the increasingly diverse needs of our customers for advisory and
structured finance transactions, a specialized unit focusing on Investment
Banking has been established at Meezan Bank. The Investment Banking
department provides unique structuring capability using complex Shariah
structures for transactions so as meet customer need. Meezan Bank as
torchbearer of Islamic Banking has made a significant contribution in the
Investment Banking industry by playing leading roles in business transactions
amounting to PKR 53 billion in the year 2007.
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.
Weightages for Pak. Rupee products from the month of April 2009
Profit Distribution Periods/
Account Categories Weightage Assigned
Tier groups
Saving Account monthly 0.76
Karobari Munafa Account 1M-4.99M 0.76

Karobari Munafa Account 100M-199.99m 1.13
Karobari Munafa Account 200M and above 1.28
Karobari Munafa Account Plus 1M-4.99M 0.76

Karobari Munafa Account Plus 100M-199.99m 1.13
Karobari Munafa Account Plus 200M - 299.99M 1.28
Karobari Munafa Account Plus 500M and above 1.33
Monthly Mudarabah Certificate 100K and above 1.04
Meezan Islamic Institution Deposit Account 10M-199.9M 0.93

Meezan Islamic Institution Deposit Account 200M-399.9M 1.04
Meezan Islamic Institution Deposit Account Above 400M 1.13
Certificate of Islamic Investment - 3 months 3 months 1.07

Certificate of Islamic Investment - 6 months 6 months 1.11
Certificate of Islamic Investment - 12 months Monthly 1.12
Certificate of Islamic Investment - 12 months Quarterly 1.20
Certificate of Islamic Investment - 12 months Maturity 1.42
Certificate of Islamic Investment - 2 years Monthly 1.14
Certificate of Islamic Investment - 2 years Quarterly 1.22
Certificate of Islamic Investment - 2 years Maturity 1.46
Meezan Providence - 2 years 6 Monthly 1.22

Meezan Providence - 2 years Maturity 1.46
Meezan Aamdan Certificate 5 1/2 years Monthly 1.69

Meezan Aamdan Certificate 7 years Monthly 1.98
Meezan Bachat Account 1-24.99K 0.76

Meezan Bachat Account 25K-199.99K 0.90
Meezan Bachat Account 200-499.9K 1.05
Meezan Bachat Account 500K-1M 1.22
Meezan Bachat Account Above 1M 0.01
Meezan Business Plus Monthly -
Margin Account Monthly 0.01
Equity 1.39
Weightages for foreign currency products from the month of April 2009
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
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

Meezan Bank

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Meezan Bank

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The objectives of the distribution of wealth in Islam

a) The establishment of a practicable system of economy:

The condition of "proper utilization" has been assumed because it is possible to

b) Enabling every one to get what is rightfully due to him:

c) Eradicating the concentration of wealth:

History of Islamic Banking

"Establish Islamic banking as banking of choice to facilitate implementation of an

Shariah Supervisory Board

The members of the Shariah Supervisory Board of Meezan Bank are

The members of the Board are:

• Justice (Retd.) Muhammad Taqi Usmani (Chairman)

• Dr. Abdul Sattar Abu Ghuddah

• Dr. Muhammad Imran Ashraf Usmani (Advisor)

Justice (Retd.) Muhammad Taqi Usmani (Chairman)

Other positions currently held:

• Permanent Member International Islamic Fiqh Academy, Jeddah, Saudi Arabia

Dr. Abdul Sattar Abu Ghuddah

Other positions currently held:

• Member Board, Dow Jones Islamic Market Indexes, USA

Sheikh Essam M. Ishaq

• Al Baraka Islamic Bank, Bahrain

Dr. Muhammad Imran Ashraf Usmani (Advisor)

Other positions currently held:

• Member, Board, State Bank of Pakistan

• H. E. Sheikh Ebrahim Bin Khalifa Al-Khalifa (Chairman)

• Naser Abdul Mohsen Al-Marri (Vice Chairman)

• Irfan Siddiqui (President & Chief Executive Officer)

• Ariful Islam (Chief Operating Officer)

• Rana Ahmed Humayun

• Mohammed Azzaroog Rajab

• Ahmed Abdul Rahim Mohamed

• Jassar Dakheel Al-Jassar

Meezan Bank is managed by a team of professional bankers committed to the

The business segments of the Bank are:

• Corporate and Investment Banking

Noor Financial Investment

Pakistan Kuwait Investment

Islamic Development Bank,

Others 747 15.17

Establish Islamic banking as banking of first choice to facilitate

To be a premier Islamic bank, offering a one-stop shop for

Our Service Mission

To develop a committed service culture which ensures the

Meezan's Branch Network

Southern Region Central Region Northern Region

Meezan Bank is pleased to offer Riba-Free Current Account, a flexible Rupee

The Meezan Bank Current Account, is a comprehensive Halal method of

Key features of the Riba -Free Current Account

• Free Online Banking services at all Meezan Bank branches nationwide

• Rupee Saving Account

• Minimum amount required to open account= Rs. 10,000

• Instant access to funds at any online branch.

Average Monthly Balance (PKR) Profit Rates (% per annum)

Dollar Saving Account – DSA

Meezan Bank is pleased to offer Riba-Free Dollar Saving Account, a foreign-

Period Monthly Profit Rates (% per annum)

Meezan Bachat Account

Enjoy a range of valuable features including:

Highest expected rate of return

• Riba-free profit paid every month

Minimum Monthly Balance (PKR) Profit Rates (% per annum)

Karobari Munafa Account