Meezan Bank to launch Shariah Compliant Capital Protected Fund

Karachi: Meezan Bank and its subsidiary Al Meezan Investment Management Limited (Al Meezan) are jointly launching Second Shariah compliant Capital Protected Fund – Meezan Capital Protected Fund-II (MCPF-II). Trust Deed of Fund was signed between Al Meezan Investment Management Ltd. (Asset Manager) and Central Depository Company Ltd. (Trustee). Irfan Siddiqui, President & CEO Meezan Bank & Chief Executive of Al Meezan, Mohammad Shoaib, CFA were present at signing ceremony.

MCPF-II will be an open-end Shariah-compliant capital protected scheme. Its object is to provide investors 100% protection of their capital at maturity while offering them competitive returns through participation in equity market. Duration of fund is three years from date of subscription. Subscription of MCPF-II units would remain open for four to six weeks only, during which units would be available at Al Meezan Offices and all branches of Meezan Bank Limited across Pakistan.

Mohammad Shoaib, CFA said, “With recent volatility in the asset markets, the foremost concern of all investors is safety of capital with an acceptable return on their investment. Under such conditions, MCPF-II offers investors best solution of ensuring safety of capital and access to stock market returns.”

Meezan Bank is first and largest Islamic Bank in Pakistan with branch network of over 222 branches in over 60 cities, offers a complete range of Islamic banking products, services including free online banking for all Pak Rupee accounts at all its branches. Its retail banking network is supported by 24/7 banking services that include over 180 ATMs, Internet Banking and a 24-hour Call Centre.

Al Meezan Investment is largest private sector asset management company in Pakistan with assets under management of over Rs.29 billion on behalf of retail, institutional clients and enjoys “AM2” rating denoting ‘High Quality Management’ by JCR- VIS Rating Company.

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