Meezan Bank
The Premier Islamic Bank
Group Members
Murtaza Asgher Ali
Naeem Ahmed
Yousuf Hatim Taherali
Introduction to Meezan Bank Ltd
• Meezan was established as an islamic investment bank
in 1997 as “al meezan investment bank ltd”. After the
successful completion and great struggle first islamic
commercial bank’s license was awarded to al Meezan
investment bank in year 2002, to start the commercial
banking facilities they bought the local operations of
“socite general” (French bank) 03 branches and started
the commercial islamic banking in the country.
• Meezan Bank bears the critical responsibility of leading
the way forward in establishing a stable and dynamic
Islamic Banking system replete with dynamic and
cutting-edge products and services
Present Situation of the
Organization
• 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 assets of Islamic banking reached Rs. 271.1 billion in
December 2008 compared to Rs. 205.2 billion in December 2007.
• 2009
Branch network of six dedicated Islamic banks increases to 480
branches (including sub branches) with Meezan Bank having a 42%
share of the Islamic Banking branch network in country with
201branches in 54 cities across the country. Islamic banking’s share
grows to over 5.5% of the total Banking industry
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.”
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
Shariah Advisory 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
• 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 Board are:
• Justice (Retd.) Muhammad Taqi Usmani (Chairman)
• Dr. Abdul Sattar Abu Ghuddah
• Sheikh Essam M. Ishaq
• Dr. Muhammad Imran Ashraf Usmani (Advisor)
Departments & the Products
Offered
There are 5 main departments at the
branch:
• Customer Services Department
• Operations Department
• Credit Department
• Trade Finance Department
• Cash Department
Customer Services Department
• Account opening and closing is the function of customer services
deptt. The bank’s customers includes individuals (single or joint),
firm (partnership/proprietorship), Autonomous corporations, Limited
companies, Charitable Institutions, associations, Educational
Institutions or local bodies.
Brief Explanation of these accounts is as follows:
Products offered by this department:
• Riba Free Rupee Savings Account
– Current account
– Saving Account
• Riba Free Dollar Savings Account
• Foreign Currency Account
Operations Department
FUNCTIONS PERFOMED:
• CLEARING
Inward clearing
Outward clearing
• REMITTANCE
Pay order
Demand drafts
Inward collection
Outward collection
Cash Department
• The cash department is the most
important department of the bank. It
receives cash from customers and then
deposits it into the accounts of the
customers and maintained their balances.
• In cash department following books are
maintained.
Scroll book
Paying book
Cash balance book
Credit / Finance Department
Islamic Financing for the following:
• Corporate
• SME
• Personal
Suggestion & Recommendations
• Expanding their business by establishing new branches in those
areas which are near to the business area.
• MBL has the option to increase its customers through efficient
marketing system.
• The bank must hire the efficient marketing personnel.
• MBL must take part in heavy advertisement as the people become
aware of the Islamic banking System.
• Bank should provide management training to their employees.
• Bank should develop healthy relation to their customers.
• MBL should give more compensations and benefits to its employees
and other workers for the improvement in the performance. Because
it leads to the improvement of overall bank’s performance.
Conclusion
• Islamic banking is a very young concept. Yet it has already been implemented as the
only system in two Muslim countries; there are Islamic banks in many Muslim
countries and a few in non-Muslim countries as well. Despite the successful
acceptance there are problems. These problems are mainly in the area of financing.
• With only minor changes in their practices, Islamic banks can get rid of all their
cumbersome, burdensome and sometimes doubtful forms of financing and offer a
clean and efficient interest-free banking. All the necessary ingredients are already
there. The modified system will make use of only two forms of financing loans with a
service charge and Mudaraba participatory financing both of which are fully accepted
by all Muslim writers on the subject.
• Such a system will offer an effective banking system where Islamic banking is
obligatory and a powerful alternative to conventional banking where both co-exist.
Additionally, such a system will have no problem in obtaining authorization to operate
in non-Muslim countries.
• Participatory financing is a unique feature of Islamic banking, and can offer
responsible financing to socially and economically relevant development projects.
This is an additional service Islamic banks offer over and above the traditional
services provided by conventional commercial banks.
