Karachi: Meezan Bank has been awarded Best Islamic Bank in Pakistan & Best Islamic Trade Finance Bank in Pakistan by Asset Triple A Awards, Hong Kong. Triple A Awards – an integrated multi-media company serving leading corporate and financial decision makers in Asia since 1999 – recognizes Asia’s top financial institutions for excellence in the industry.
Meezan Bank was also awarded Best Islamic Deal – Pakistan for arranging a syndicated Islamic finance facility for Sui Southern Gas Company to fund expansion of its transmission and distribution network. Seven leading financial institutions participated in the facility which was successfully closed at Rs 3 billion in December 2010. Meezan Bank’s subsidiary Al Meezan Investment Management AMIM was also awarded Best Islamic Asset Management House in Pakistan.
The award brings to light highly successful and record-breaking year for Meezan Bank, only AA rated Islamic Bank in Pakistan. With a branch network of 223 branches in 63 cities across Pakistan, Meezan Bank continues to be largest Islamic bank in Pakistan. Bank demonstrated robust business growth in 2010, closing the year with deposit Rs 131 billion, Import, Export business of Rs 143 billion and 61% growth in Net Income over previous year.
Meezan Bank offers range of Islamic banking products, services, including free online banking for all Pak Rupee accounts at all its branches. Its retail banking network of 223 branches in 63 cities is supported by 24/7 banking services including over 170 ATMs, Internet Banking, VISA Debit card and 24-hour Call Centre. Bank’s VISA Debit card allows its customers to shop at over 30 million merchants worldwide and withdraw funds from their accounts from more than 1.4 million ATM’s worldwide.