Head Office of Meezan bank is located at,

3rd Floor PNSC Building,

Moulvi Tameezuddin Khan Road Karachi,
Sindh, Pakistan.
Tel: (92-21) 5610582/5610679.Fax: (92-21) 5610375
www.meezanbank.com
24/7 Call Center 111-331-331

2302
2396

Zabihullah Nasir
Mehwish Jahan

BBA 6th Section-B (Eve)

University of Education Lahore, Multan Campus Bosan

Road Multan

Introduction
Meezan Bank is publically listed company, first incorporated on
January 27, 1997. It started operations as an Islamic investment
bank in August of the same year, which has been licensed by the
State Bank of Pakistan to operate as an Islamic commercial
bank on 31st January 2002. State Bank of Pakistan granted the
nations first full-fleged commercial banking license of Islamic
Banking to Meezan bank ltd. It was a new era in banking sector
history in Pakistan that Meezan Bank ltd adheres strictly to the
principles of Islamic Shariah with absolutely no compromise, and
is recognized as Pakistans truly premier Islamic Bank. Meezan
Bank is opening approximately more than 166 branches in 40
different cities.
In addition the State Bank of Pakistan itself governs
the activities of Meezan Bank and its Shareholders. Meezan bank
ltd has a strong Balance sheet with excellent operating
profitability, including a capital adequacy ratio that has placed the
Bank at the top of industry, a long-term entity rating of A+, and a
short-term entity rating of A1+.
Planning and managing the work efficiency is the key factor of the
Meezan banks Managers.

The vision of Meezan Bank is

Establish Islamic Banking as banking of first choice

The mission of Meezan Bank is

To be a premier Islamic Bank
Shariah Board
Meezan Bank has a very high-caliber Shariah Supervisory
Board, comprises of internationally renowned Islamic scholars.
The Shariah Supervisory Board regularly reviews the banks
activities and approves all new products. The bank also has a
resident Shariah advisor. Doctor Muhammad Imran Usmani, who
monitors day-to-day transactions of the bank. The Shariah Board
comprises of the following members:
Justice (Retd.) Muhammad Taqi Usmani (Pakistan) chairman.
Dr. Abdul Sattar Abu Ghuddah (Saudi Arabia).
Sheikh Essam M. Ishaq (Bahrain).
Dr. Muhammad Imran Ashraf Usmani (Pakistan).

Shareholders in Meezan Bank

Our shareholders are world-renowned financial institution i.e.
Pakistan Kuwait investment company (Pvt) Ltd.
Shamil Bank of Bahrain E.C.
Islamic Development Bank.
Kuwait awqaf Public Foundation.

 Saudi-Pak Industrial & Agriculture Investment Company (Pvt)

Ltd.

Accounts offered by Meezan Bank Ltd on Mudarabah

Basis
Mudarabah
This is a kind of partnership where one partner gives money
to another for investing in a commercial enterprise.
The investment comes from the first partner who is called
Rab-ul-Mal (Investor).
The manager and work is an exclusive responsibility of the
other, who is called Mudarib (Working partner).
Profit is shared as per agreed ratio.
In case of Mudarabah all losses are borne by Rab-ul-Mal.
Key Features
The structure is based on the principle of Mudarabah is
strictly in conformity with the rules of Islamic Shariah.
It has been approved by the Shariah Supervisory Board of
Meezan Bank.
On agreeing to become an account holder, the customer
enters into a relationship based on Mudarabah with Meezan
Bank.
Under this relationship
The Bank is the Manager (Mudarib) of the funds
deposited by the customers.
The customer is an investor (Rab-ul-Mal).

 The bank allocates the funds received from the

customer to a deposit pool.
These funds from the pool are utilized to provide financing to
customers under Islamic modes that include, but are not
restricted to Mudarabah and Ijarah.
Profits
The gross income will be shared between the bank (as Mudarib)
and depositors (Rab-ul-Mal) in a predetermined ratio (%) of the
actual profit ea

Meezan Bank Ltd offers different types of accounts on Mudarabah

Basis. These are as under:
Rupee Current Accounts
Meezan Bank is placed 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 case of utility and unmatched services
quality.
Key features of the Riba-Free Current Account
Instant access of funds at any online branch
Free Real-time online banking services across our branch
network nationwide

Visa Debit card

Free 24/7 internet banking
No restriction on withdrawals or number of transactions
No deduction on low balance maintained
Bank balance certificates & duplicate statements of account
SMS alerts services
Stop payment & Hold Mail instructions
24/7 Call center with complete phone-banking services
Personal financial consultancy services
Specialized 8 to 8 banking at selected branches

Rupee saving Accounts

A unique bank account that offers the opportunity to earn Halal
profits, while enjoying a range of added benefits. It can be
opened with a minimum amount of only Rs. 10,000. The profit
on this 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.
Key features
Apart from first class service and personalized attention that
our customers get when they bank us, we offer the following
additional convenience:

Profit will be calculated on daily product basis

Distribution of profits monthly basis
Instant access to funds at any online branch
Free online banking services at all Meezan bank branches
nationwide
No restriction on withdrawals or number of transactions
Bank Balance certificates and duplicate statement of
account
Stop payment and hold mail instructions
Visa debit card
24/7 call center with complete phone-banking services

 Personal financial consultancy services

Specialized 8 to 8 banking at selected branches
KMA (Karobari Munafa Accounts)
Karobari Munafa is a high profit saving accounts specifically
tailored for large corporate or Gop controlled entities. It allows
customers to earn higher returns on surplus cash balances. It has
no preset transactions limits and comes with a variety of
packaged benefits.
Key features
Profit will be calculated on daily product basis
Minimum balance requirement for account opening is Rs.
1 Million
No restriction on withdrawals or number of transactions
Free facilities, cheque books and pay orders
Dedicated accounts / relationship manager
The Karobari Munafa accounts works under the principles
of Mudarabah and is strictly in conformity with the rules of
Islamic Shariah. Profit calculations and all banking
transactions are in strict adherence to the Islamic Shariah,
monitored by our Shariah advisor and the Shariah
Supervisory Board.
MBA (Meezan Bachat Accounts)
Meezan Bachat Accounts 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 the conviences of a saving account.
With a Meezan Bachat account, customers are entitled for a
higher the profit with a higher account balance. Customers
receive profit even if your balance falls below Rs. 25,000/- in any
month. Profit is credited to customer account every month and is

calculated with reference to the minimum balance maintained in

the account during the preceding month.
Key Features
Enjoy a range of valuable features including:

Halal & High competitive returns

Profit payment on monthly basis open for individuals only
Minimum balance for account opening is just Rs. 25,000/Maximum balance limit for getting highest profit rate is Rs.
10,00,000/Waiver of application fee for car Ijarah & Easy Home for
accounts with minimum balance of Rs. 500,000
Free real-time online Banking services at all Meezan Bank
branches nationwide
Free bank balance certificates
Visa Debit Card
24/7 call center with complete phone-banking services
24/7 internet Banking free and instant access to your
account(s) anytime & anywhere
Personal financial consultancy services
Specialized 8 to 8 Banking at selected branches

US Dollar Saving Account

Meezan bank is pleased to offer riba-free dollar saving account , a
foreign currency based investment opportunity that is set up on
the principal 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 a 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 maintain a

minimum average monthly balance of $ 500, customer investor is

declared at the beginning of the month. If customer maintains a
minimum average monthly balance of $ 500, customer shall be
eligible to receive profit that shall be credited to customers
account every month.

Key Features
Apart from first class services and personalized attention that
Meezan bank customers get when they bank us. Meezan Bank
offers the following additional conviences to their customers:

Mothly profit payment

No restriction on withdrawals or number of transactions
24/7 call center with complete phone-banking services
Taking stop payment instructions
Issuance of duplicate statement of account
Personal financial consultancy services

Meezan Business Plus - MBP

Meezan Business Plus is a Mudarabah-based account that allows
customer to conduct your banking transactions while availing a
wide range of free services and therefore provides you the ideal
blend of convenience & flexibility that you deserve in Islamic
banking.
Meezan business plus account can be opened by:

Individuals
Sole proprietorships
Partnerships
Limited companies

Key Features

 Minimum investment is required to open an account is Rs.

100,000/ There is no deduction of service charges if the balance
maintained is low
There is no restriction on withdrawals or number of
transactions
You will have instant access to your account both through
internet banking and through online banking at all branches
of Meezan bank across Pakistan
The following facilities will be provided free of charge* if an
Average Monthly Balance of Rs. 100,000/- is maintained in the
account

Free
Free
Free
Free
Free
Free
Free
Free
Free

cheque books
pay orders
VISA Debit Card
account statements
online Banking
internet Banking
hold mail facility
SMS Alert services
intercity clearing

Meezan Islamic Institution Deposit Account (MIIDA)

The Meezan Islamic institution Deposit account (MIIDA) is a
unique product, tailored exclusively for Islamic Financial intuitions
(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-Mal) and Meezan bank is the

Manager (Mudarib) of the funds deposits 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 driving
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 1,00,00,000/- or multiples
thereof
Maximum investment amount PKR 1 billion
Withdrawals of funds
24 hrs. notice for PKR 50-200M deposit
Labbaik Saving Aasaan-LSA
Meezan Bank is a completely Halal & Riba Free Hajj & Umrah
product.
Keeping your convenience in mind, Meezan Bank Umrah Scheme
has been launched in collaboration with renowned Travel Agents.

Meezan bank is acting as sales & funds collecting agents of the

Travel Agents.
Key Features

Renowned Travel Agents on Meezan bank panel

Packages for different durations & Facilities are available
Complete Visa processing by selected Travel agent
Confirmed returned airline tickets on any airline
Complete accommodation in Hotels in Haram
Special Meet & Assist services at airport
Installment plan available from Meezan Bank

These all current and saving accounts can be opened in any

category of the following types of accounts

1) Individual Accounts
2) Joint Accounts
3) Minor Account
4) Sole proprietorship Accounts
5) Illiterate Customer Account
6) Partnership Account
7) Limited Liability Companies Accounts
8) Associations, Committee, Societies or club Accounts
9) Non-Resident Rupees Accounts
10)
Trust Accounts (with prior permission from HOP)
11)
Executors,
Administrators
Accounts
(with
permission from HOP)
12)
Local Bodies Accounts
13)
Special convertible Rupees Account (SCRA)
14)
Staff Accounts

prior

Individual Accounts
Accounts of individual, who are resident or nonresident, are to be opened under this category.

 Joint Accounts
Joint account is an account in the names of two or
more persons (other than partners of trustees). In this regard it to
be ensured that:
The Survivorship Mandate is signed by all parties to the
account and instructions for the operation of account are
clearly stated and filled in the Mandate.
In case of death, cheques signed by Deceased Account
holder presented for payment will not be entertained and
therefore must be returned.
When the balance of joint account is payable to either party
or survivor, the Specimen signature Card should be marked
to effect the arrangement.
Minor Account
A person who has not attained the age of 18 years
is minor.
However, in case Court has appointed a Guardian for the property
of a minor, and then the period of his/her maturity extends to the
age of 21.
Sole proprietorship Accounts
A formally stamped written request on the official Letter Head of
the Business / Firm of the sole proprietor in order to open a sole
proprietor account must be submitted along with AOF (Accounts
Opening Form).
This request for opening of a sole proprietorship account should
comprise the following clause:
I am a sole proprietor of this firm and as such, I am entirely
responsible for all transactions carried out in the name of firm and
I am responsibly liable for any overdraft or other obligations

arising in or in connection with this account and the Bank is herby

authorized to debit the account with commission and / or other.
Banking charges and expenses incurred in connection with this
account
Additional care must be taken while opening of sole proprietor
account. Beside other documents the customer should be ask to
produce the original NTN (National Tax Number) certificate issued
to his name in the capacity as sole proprietor of said firm.
Illiterate Customer Account
These types of accounts ate opened only for those persons who
are illiterate. This account is also known as Photo Account,
that during opening this account we paste the current passport
size photographs with AOF (Account Opening Form). Illiterate
person could only open Saving Accounts. Furthermore, all
withdrawals undertaken by illiterate customers must be witnessed
by two Bank officials and countersigned by Manager Operation.
Partnership Accounts
Partnership is an association of two or more persons who have
agreed to share profits of a business carried on by all or by any
one of them acting for all. The terms and conditions must be
spelled out in the Partnership Deed formally agreed upon
among partners by incorporating the same in the Deed.
It should ensure that:
Accounts of only Registered Partnership concerns will be
opened and the partnership Deed will be obtained and
critically reviewed.
The AOF must be signed by all partners in their capacity as
individual and not as member of the partnership.

 The signing and declaration of power of those authorized to

operate the account should be clearly stated on the AOF
documentation in accordance with the partnership Deed.
Limited Liabilities company Accounts
There are two types of limited companies i.e. Public Limited and
Private Limited. The public and Private Limited companies are
both incorporated and governed under the provisions of
companys ordinance 1984.
A limited liability company may be open an account with the Bank
only if it is authorized to do so by a resolution of the Board of
Directors of the company.
Furthermore, such resolution must specify the titles / designation
of the officials authorized to open and operate the account, the
extent of their authority and the manner in which the account will
be operated.
Association, Committee, Societies or Club Accounts etc
Association, Committee, Societies or Club may open an account
with the bank only if authorized to do so by the governing Body of
the said Association / committee / Society or Club.
Account of the Association, Committee, Societies or Club should
not be allowed to be overdrawn. No cheque drawn on the
accounts of the Association, Committee, Societies or Club shall be
collected for the credit of personal / private accounts of any of the
Office-Bearers of Association, Committee, and Societies or Club.
Non-Residential Rupees Accounts
Accounts of individuals, Firms or Companies who are resident in
countries outside of Pakistan and all nationals of Pakistan and
persons domiciled in Pakistan, who visit abroad for the purpose of
employment, study and business etc., are treated as Nonresidents as long as they remain outside Pakistan. Accounts of all

foreign nationals who are resident in Pakistan may be treated as

Resident Accounts.

Trust Accounts
A trust Account may be opened exceptionally with the prior
approval of Head of Operations. Trust Accounts may only be open
for parties whose integrity and standing is beyond any doubt.
Before sending the HO (Head Office) BM (Branch Manager) and
Mo (Manager Operation) will go through the Trust Deed to
ensure that no undue onus is placed on the Bank.
Executors and Administrators Accounts
Executors and Administrators Accounts shall be opened with the
prior permission from the HO. Moreover, whenever application for
the opening of Executors and Administrators Account is received,
the matter should be referred to the Regional Manager who will
forward the full detail of the matter to HO for guidance and
permission to open such account. No Executor and Administrator
will be allowed to transfer the fund from the account to their
personal accounts.
Local Bodies Accounts
City Governments, Municipalities, District Boards, Development
Bodies etc are included in Local bodies. Functions and powers of
these Local Bodies are governed by the relevant Local Acts and
Rules / Byelaws made in accordance with such Act. These Local
Bodies are regarded as desirable Customers because they have
substantial amount of funds at their disposal. However,
operations on these accounts must be conducted strictly in
accordance with the statutory rules and regulations.
Special Convertible Rupees Account (SCRA)

As per the Foreign Exchange Manual Chapter 20, SCRA can be

open by Nonresidents for the purpose to trade in the shares
quoted on the Stock Exchanges in Pakistan. Such accounts can be
fed by remittances from abroad or by transfer from a foreign
currency account maintained by the non-resident investor in
Pakistan. The balance available there in can be used for purchase
of any share quoted on the Stock Exchange. Branches will be
required to submit weekly statement in the prescribed Performa
(V-92) of FE- Manual showing the position in respect of SCRA
accounts as on each Saturday.
Staff Accounts
Staffs can open only one saving or current account singly or
jointly with his / her spouse at the time of appointment in the
respective branch of Meezan Bank Limited. The account will be
opened for the purpose of salary disbursement (like salary, bonus,
increments, allowance or any form of reimbursement from
Meezan Bank Limited against services rendered by employee.

Documentation of Opening an Account

1. Individual accounts:
Copy of CNIC
Any proof of Income (salary slip/ NTN)
Any Utility Bill (for Address Verification)

2. Proprietorship Account

Copy of CNIC

 Proof of proprietorship (NTN Certificate)

3. Account Opening Request & Proprietorship letter on Firms
Letter Head
Any Utility Bill (for Address Verification)
3. Minor Account
Copy of CNIC of Guardian
Copy of Birth Certificate
CNIC copy of Guardian
4. Partnership Accounts

Registered Partnership Deed (Certified Copy).

Letter of Authority & Mandate.
Copies of CNICs of all partners.
Account opening Request Letter on firms Letter Head

5. Limited Company:

Copy of Certificate of Incorporation

List of Directors
Memorandum & Articles of Association
Board Resolution
Certificate of Commencement of Business (for Public Ltd.
Co.)
Copies of CNICs of all Directors/Signatories
Latest copy of certified Form-29

6. Club/ Society/ Association:

Copy of Rules/By-Laws.
Copy of Registration (if applicable)
List of executive Member/Management
Committee/Management Board etc.

 Certified Copy of Resolution.

CNICs of all Members of Management Body & Signatories.
Undertakings to immediate inform the bank in writing
about any changes in Management Committee/
Authorized persons.
NOTE
These all documents are required original, bank itself
get the photocopy of these documents.
Housewives/Students/Retired Personal: Documents as requested
by branch.
CONSUMER BANKING PRODUCTS OFFERS BY MEEZAN BANK
LTD. ON MUSHARAKAH BASIS

Musharakah
Musharakah is the type of Partnership in which both the partners
invest equally, and share their profit & losses equally.

DIFFERENCE B/W MUSHARAKAH & MUDARABAH

Musharakah
In Musharakah both parties invest
Both parties work
In Musharakah the profit and losses shared equally.

Mudarabah
In Mudarabah one party invest (Rab-ul-Mal) and other party
work (Mudarib)
Profit is shared as per agreed ratio

 In case of Mudarabah all losses are borne by Rab-ul- Mal

CONSUMER BANKING PRODUCTS

Consumer Banking Products are
1) Murabah
2) Car Ijarah
3) Easy Home
4)
Meezan Bank Murabah
Murabah is the type of short term financing in which Bank is the
owner of product and purchases that for the customer. Like other
banks Meezan bank is not providing the loan to the customer, but
if they need any type of product like Machinery etc for his use.
Bank has no expertise, so banks make the agent to that person,
he will buy himself and then hand it over to the bank. Then bank
will give him on cost plus profit. If during buying any type of
sudden accident occurs, the whole loss will be borne by the bank
because the bank is owner of that material.

Meezan Bank Car Ijarah

Car Ijarah is Pakistans first Interest Free car financing based on
Islamic financing mode of Ijarah or Islamic leasing. This product is
ideal for interest adverse individuals, looking for a car financing
that provides the convenience of a well designed product while
avoiding an interest based transaction.
Car Ijarah is simply a rental agreement under which the car will
be given to the customer on rent for a period, agreed at the time
of the contract. Meezan Bank purchases the car and rents it out to

the customer for a period of 3, 4 or 5 years. Upon completion of

the lease period he customer gets ownership of the car against
his initial security deposit.
Car Ijarah is unique and is approved by Meezan Banks Shariah
Board
Car Ijarah, designed under the supervision of Meezan Banks
Shariah Supervisory Board, is unique to car leasing facilities
provided by other banks. Rights & liabilities of Owner v/s User
An Islamic Ijarah is an asset-based contract, i.e. the lesser should
have ownership of the asset during the period of the contract.
Under Islamic Shariah, all ownership related rights and liabilities
should lie with the owner while all usage-related rights and
liabilities should lie with the user. A conventional lease contract
does not distinguish between the natures of these liabilities and
places all liabilities on the user of the asset, contradictory to
Islamic Shariah. Under Ijarah, all ownership-related risks lie with
the Bank while all usage related risks lie with the user, thus
making the Lesser the true owner of the asset and making the
income generated through the contract permissible (Halal) for the
Bank

Car Ijarah, Pakistans First Islamic Car Financing

As a step towards Meezan Banks mission to provide a one-stop
shop for innovative value added Shariah compliant products,
Meezan Banks Car Ijarah unit provides a car financing, based on
the principles of Ijarah and is free of the element of interest.
Car Ijarah is Pakistans 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.

Meezan Bank Easy Home (house financing)

Easy Home is Pakistans first totally Shariah-compliant Home
Finance facility! One that is comprehensive, affordable, and totally
hassle-free. For at Meezan Bank, we are committed to meeting
our customers needs, in a truly Shariah-compliant manner
coupled with dedicated service excellence.
Why is Halal home finance so important to you?
Owning your own home is one of lifes 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 its 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
financing and be
inner satisfaction
both worlds? Isn't

your desire to stay away from interest based

totally Riba-free, thus achieving that complete
and peace of mind. Why not have the best of
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.