Comprehensive and Diversified Product

Chapter 3

Comprehensive and Diversified Product

Function of Meezan Bank:

a. Services b. Product Development & Shariah Compliance (PDSC) Department

a. Services:
Meezan bank has a unique defined menu of financial products. They design their product portfolio in response to customers preferences like:

Electronic banking Online banking Personal Banking and Finance Corporate Finance Commercial Finance Syndicated & Structured finance Project Financing Islamic Financial Advisory Services Treasury Car Ijarah - Car Financing Home Financing Asset Management

The products Meezan bank is presently offering come under these main head i.e. corporate banking, commercial banking and electronic banking. The various items that fall under these four heads can be summarized comprehensive product that provides the market a long awaited Shariah mortgage facility that allows home purchase, building, renovation and even replacement of an existing mortgage.

1) E-Banking:
ATM Debit Card:
Meezan Bank offers a wide network of ATMs located at its branches as well as prominent offsite locations. You do not need to carry cash anymore; simply go to the ATM and withdraw cash anywhere, anytime. We also offer access to more than 2,000 ATM locations country-wide via 1Link and MNET Network.Accepted at most prominent outlets across Pakistan, the Meezan Bank Debit Card offers you safety, convenience and control on spending 24 hours a day, seven days a week. Unlike credit cards, there are no monthly bills, no service charges and no late payment fees.

Features:

Transfer funds between your own accounts in the same branch via ATM. The cash withdrawal limit for Meezan Visa Debit Card per day subject to the funds present in your selected account. You can withdraw cash from any other banks ATM which is the member of either MNET or 1Link network

Notes:

Funds can only be transferred between accounts (of different nature) within the same branch. Applies to same branch accounts which have been linked to the ATM card being used. If using any non-Meezan ATM, the cash withdrawl limit of that machine will be applicable on you. For example if the machine's daily cash limit is PKR 10,000, then that machine will only provide the customer PKR 10,000 during that day. Charges of PKR 15 per transaction will be applied when 1Link or MNET ATMs are used for cash withdrawl.

USAGE OF ATM CARD:

Step 1 Step 2 Step 3 Step 4

The cashier will swipe the Debit Card across the ORIX machine and enter the purchase amount. Select your desired account from the options: Current or Savings. Enter your 4-digit PIN for verification. These are same 4 digits as your ATM PIN. After verification, the machine will issue a slip. Confirm your transaction amount and collect your Debit Card. The transaction is complete and the amount will be debited from your account on the spot.

Step 5

PIN Forgotten

Helpful Tips:
Memorize your PIN. Never write it down anywhere. Keep your card carefully so that it does not get damaged or distorted. To avoid your card (or cash) from being captured by the ATM, ensure that you remove it from the ATM slot immediately after it is dispensed. If the ATM does not dispense the correct amount of money or does not dispense the money at all, please contact the branch where you are using the ATM or your home branch, or call the Call Center at 111-331-331 immediately. It is advisable to retain your ATM receipts after every transaction to guard against fraud and make record keeping easier.

Damaged Card Captured Card

Incorrect Amount / No Payment ATM Receipts

2. Online Banking:
Meezan bank is one of the few banks in Pakistan that offers on-line banking facilities. Customer have the convenience of walking into the nearest branch of the Meezan bank in any of the cities of Pakistan and operate their accounts.meezan bank provides on-line services to its customers. At present, this service facilitates the customer to deposit and transfer their amounts from one branch to another of mean bank. It is being planned to launch a universal account to update this facility and make it more extensive. Our ATM/Debit card is designed to offer you the convenience of accessing your funds with us from any ATM in Pakistan and also pay for your purchases from any merchant establishment across the Pakistan.

We provide you customer service support through a call center which operates 24 hours 7 days a week.

SMS Alerts:

Meezan bank offers a very unique electronic banking facility of SMS alerts. Now the customer can get awareness about their banking transaction by staying at their home through sms at mobile. Customer can easily get facility of SMS alert by filling a SMS alert form from Meezan bank

Internet banking:
Meezan Internet Banking is the smarter way to bank, providing you global access to your account 24 hours a day, 7 days a week.

Meezan bank offers a comprehensive internet banking facility which ensures that we use state of the art-technology to provide you convenience around the clock. By using internet banking customer can make their transaction and check their account statement on just on click through internet banking websites of the Meezan bank. With Meezan Internet Banking, you can get secure and convenient access to the following facilities: Balance inquiry of multiple accounts

View account statement Real time cheque status and stop payment request Cheque book and pay order request Lodging and tracking status of complaints Account activity alerts

To utilize the Meezan Bank internet banking facilities, simply follow the two-step registration process by filling in the online registration form and submitting a hardcopy of the same as an indemnity form at your branch..

1) Personal banking:
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 unmatched service quality.

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.10000.the profit on this account is calculated paid on a monthly basis and comes with a variety of free benefits including personalized check books, no restrictions on transactions, priority banking and more.

Dollar saving account

Meezan bank is pleased to offer riba-free dollar saving account, a foreign-currency based investment opportunity that is setup on the principles 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.if you maintain a minimum average monthly balance of $500, you shall be eligible to receive the profits that shall be disbursed to you every month.

Karobari Munafa account

Karobari Munafa is a saving 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 restrictions on deposits and withdrawals Free facilities:chequebooks and payorders Dedicated account/relationship manager

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. 25000/-in any one month. Profit is calculated to your account every month and is calculated with references to the minimum balance maintained in the account during the preceding month.

Key Features
Highest expected rate of return Riba-free profit paid every month Minimum amount for account opening is just Rs. 25,000/ Limit for getting highest profit rate is Rs. 1000,000/ Waiver of application fee for car Ijarah and easy home for accounts with minimum balance of Rs.500,000/ Free bank balance certificates. 24/7card your ATM & Debit Card in one 24/7call center with complete Tele-banking services 24/7 internet banking-free and instant access to your account(s) anytime & anywhere Personal financial consultancy services.