3. OVERVIEW
OF THE
BANK
3
Pakistan's first Islamic bank,
establishing its doors in 1997.
Headquarters In Karachi, Pakistan
Approximately 902 branches
nationwide.
4. HISTORY OF MEEZAN 1997-2021
4
2021
2020
2017
2014
2011
2009
2008
2007
2006
2003
2002
1997
Establishment of
meezan bank
Branch network reaches
10 branches nationwide
while the deposit base
grows to Rs. 7.7 billion
Branch reaches the
milestone of 100
branches,
Deposit base grew by
54bn.
Deposit base grew by
100 bn.
Meezan VISA debit
cards launched
Launch of SMS
banking
Mobile banking
launched.
Meezan Titanium
Mastercard launched
Best bank award
2020
Largest size in
banking category
SBP allowed the
bank permit of
Islamic banking
62 Branches with
deposit base of RS.34
billion
Internet banking
launched
Islamic bank finance
award
9th largest bank award
Launch of Meezan
Mastercard & Premium
banking centres
launched
Collaborations with
IBA & LUMS for
education fee through
online banking.
Launch of secure
online shopping with
3D secure.
Roshan Digital
account 1st
position.
First bank to be
recognized on
PSX
Launch of COVID
vaccination
centres
6. 7P’s
PRODUCT
▫ Service industry products intangible.
▫ Mainly borrowing, lending, and deposit
products.
▫ Do not compete on the triad of price, quality,
and service.
▫ Fundamental products are 'deposits' and
'advances.'
Basics:
▫ Deposit products
▫ E – Banking
▫ Consumer financing
▫ Alternative distribution channels
▫ Cash Management
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7. PRODUCTS & SERVICES
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Products & Services of Meezan Bank
Deposit products E-banking Consumerfinancing Financing products Alternative distribution channels Cash Management
Meezan Asaan Smart Remittance Wallet Car Ijarah Murabaha Meezan Mobile Banking App Meezan eBiz
Meezan Express Smart Asaan Mobile Account Meezan Women First Musawamah SMS Alerts Meezan eBiz+
Meezan Kids Club Smart Disbursement Solution Bike Ijarah Commodity Salam SMS Banking Meezan eBiz+ LITE
Meezan Labbaik Smart Wallet Easy Home Structured Finance Solutions Meezan Mastercard Debit Cards
Meezan Kafalah Meezan PremiumBanking Meezan Roshan Apna Ghar Short-TermImport Financing Meezan Visa Debit Cards
Meezan Bachat Meezan Consumer Ease Shariah-compliant Hedging Fintech Services
Meezan Roshan Digital Meezan Solar Islamic Export Refinance Scheme Meezan PayPak Debit Card
Current &
Savings account
Employee salary
account
Riba-free car
financing
Procurement of
Raw Material &
Stock
8. 7P’s
PRICE
▫ Prices associated with
the transactions mainly in
form of debits and
credits.
▫ Prices highly vary based
upon the type of value
added services
Supplementary services.
▫ Different pricing models
for their different target
segments.
▫ Focusses upon charging
varying interest rates
based upon Car Ijarah,
Home loans etc. 8
9. MEEZAN PRICING MODEL – TYPES OF CARDS
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Meezan Debit Cards
Card Withdrawal
limit
Annual Charges
Visa Debit card - Silver Rs. 50,000 Rs. 1,450 per annum plus tax
Visa Debit card - Gold Rs. 50,000 Rs. 1,800 per annum plus tax
Titanium MasterCard Rs. 150000 Rs. 2,500 per annum plus tax
Platinum MasterCard -
Premium
Rs. 200,000 Rs. 4,500 per annum plus tax
Above stated pricing models are based upon the “Rate Fences” – segregation based on prices.
10. 7P’s
PLACE
▫ Place refers to the place of convenience for
the customers.
▫ physical locations whereby the bank is
present in the country, city.
▫ physically present in 890 locations
nationwide in 112 cities.
▫ ATMs operating 24/7 nationwide.
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11. 7P’s
PROMOTION
▫ Communication of the bank with their
customers.
▫ Traditional practices of promotional
techniques involve contacting the
customers through Ads.
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12. You cannot keep customer out of the delivery process
Service provider might be responsible for making or breaking a
customer based on his attitude and responsiveness
Well-trained employees deal with the customers with friendliness
and professionalism
Customers have a lot of involvement in the rendering banking
services
Opening of an account
Depositing cash in the account
Clearing a cheque
Paying utility bills
Meezan Bank has different employees with different
responsibilities i.e.
CSO, CSM, RM and Cashier
People
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13. Physical environment of a firm, greatly influences the perceptions
of the customers Competitve Advantage
902 Branches 90% have strong infrastructure
Meezan Bank has paid a lot of attention to physically enhance
and renovate their branches
To make the service delivery efficient, each branch of Meezan
Bank has the following:
Physical
Evidence
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14. Cash Counter
Marks on the Floor
Seats
Token Machine
Furniture
Computers
Biometric Machines
ATMs
Lockers
Notice Boards
Stationary
Crockery
Air Conditioners
Painted Walls
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15. Process Process is directly linked with customer satisfaction
Customer is a co-producer Customer friendly
Heterogeneity in banking services
Common services availed at Meezan Bank includes
Cash Deposit and Cash Withdrawal
The process of such services is as follows:
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16. Process Cash Deposit and Cash Withdrawal
Step 1 – take out a token from token machine
Step 2 – wait in the waiting area for your turn
Step 3 – your turn will be called out on speakers
Step 4 – move towards the cash counter and request for the
desired service
Step 5 – (For cash withdrawal) Hand over the Cheque to the
cashier, (For cash deposit) Fill in the deposit slip and hand it over
to cashier along with the stated amount of cash
Step 6 – hand over the ID card and prove your identity
Step 7 – Sign twice at the back of Cheque or Deposit Slip
Step 8 – Take transaction proof from the cashier and move back
Step 9 – next customer’s turn will be called out on speakers
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17. Process Account Opening and Loan Requests
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Paper Work i.e. Legal
Documents
Biometric
Customer
profile is
updated on
Temenos 24
Email is sent
Approval from
upper management
Process is
completed on
desired customer
request
19. To be a premier Islamic bank, offering a one-stop shop
for innovative value-added products and services to its
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
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26. C
S
R
How Meezan Bank is
addressing it?
▫ Heavy Investment in education
in union with TCF (The
Citizen's Foundation)
▫ Sponsorships have been
offered to MBA (Islamic
Banking and Finance)
programs
▫ Development of human
resources for Islamic finance's
future growth
▫ However, problems with
implications
A tool for promoting a
positive brand image.
Leads to:
o Better Positioning
o Positive Brand Image
o Better competitive position
o Problem Avoidance
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27. Gender
Diversification
How Meezan Bank is
addressing it?
▫ Part of its Mission Statement
▫ Bank rigorously follows Sharia
law
▫ Bnak is commitment to CSR
▫ However, there are a few
complains of limited opportunity
▫ Personal example
It’s a Proof of ethical behavior
and social duties
Two Perspectives:
1. Provide women with equal
possibilities
2. Enforce non-discriminatory
efforts
Benefits:
o Significant corporate growth
o Better Image/Positioning
o Problem Avoidance
o Attracts reasonable investors
and business associates
o Viable candidates for critical
positions
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28. Connection
interruptions, IT
Structure,
Resentment
among
Customers
How Meezan Bank is
addressing it?
▫ Recent investment in IT
infrastructure Including:
▫ Website
▫ Mobile Application
▫ Acted as opportunity in
Covid’19 for online banking
Meezan Bank's IT system used to
be highly shaky
Thousands of Meezan bank
account holders fled to other
Islamic franchises in 2019 to keep
their Islamic banking goal
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29. Customers
Changing
Minds and
moving to Other
Islamic
Counterparts
How Meezan Bank is
addressing it?
▫ Recent Investment in:
▫ Efficient marketing
▫ Better training programs
Two Reasons:
▫ Frequent connection downtime
▫ Unskilled non-professional
employees who failed to justify
when asked about Islamic
banking services and products
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30. Compensation
or Reward
Schemes
How Meezan Bank is
addressing it?
▫ Meezan Bank's compensation
management model is
exceptional
▫ They have recently offered
bonuses to security personnel
as well as janitors (non-Muslim
employees i.e. etcetera,
sweeper).
Potential drawbacks:
▫ Increase turnover
▫ Uneven performance
▫ Reduces employee
engagement
▫ Bad service experience
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33. Ad 1!
▫ The Ad was aired in March 2021, on TV channels &
official YouTube page of Meezan Bank.
▫ Meezan Bank claims, easy and convenient way to
transfer money.
▫ It is easy, secure & legal.
▫ The campaign's goal was to inform people about how
Meezan Bank's Remittance account will deliver a
fantastic experience for both the sender and the
receiver
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34. No matter how long the
distance is, it takes only one
heartfelt act to bring your loved
ones closer.
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36. Ad 2!
▫ This Ad was officially aired on the official Facebook page of
Meezan Bank on 19th November 2020
▫ Meezan Bank has positioned itself in the minds of
consumers by offering Riba-free, affordable financing to
Pakistanis
▫ The main objective of this campaign is to fulfill the dream of
all those who can buy home but lacks financial constraint
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37. Build your dream home with
the largest Islamic Bank in
Pakistan.
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39. Basic
Efforts
&
Benefit!
▫ Meezan Bank had previously invested in a
new IT system when the pandemic was on
the horizon,
▫ Resulted in a highly optimized website and
mobile application
▫ During Covid-19, mobile application swiftly
drew attention due to its:
▫ Extreme ease
▫ Wide range of services
▫ Smooth optimization
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40. Other
Than
That
…
Bank took a number of steps to help clients and manage the risks posed by
COVID-19:
o Increased awareness about COVID-19 and its preventative measures through
email, social media, and print media.
o Encouraging consumers to utilize Meezan Mobile App, Debit Card, or Online
Banking for their banking needs.
o Informing customers and the broader public that after using ATMs and POS
machines, they should wash or sanitize their hands.
o Encouraging people to utilize their Meezan Debit Cards instead of monetary notes
when buying.
o Instructing customers to disinfect their debit cards by gently wiping them with a
sanitizing swab or cotton ball soaked in Dettol and allowing them to dry.
o Masks, gloves, and sanitizers are available in the Bank's cash offices.
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41. Other
Than
That
…
Bank took a number of steps to help clients and manage the risks posed by
COVID-19:
o All transactions using the Mobile App and Internet Banking are free of charge.
o Ensuring that digital banking channels and Call Centers are available 24/7.
o The Bank has ensured the greatest level of security for online banking
o Maintain a high level of cleanliness by wiping the floors and cleaning the
furnishings and fittings on a regular basis.
o Account opening using NADRA "verisys" rather than Bio-matric verification.
o Customers of shuttered branches can get banking services through Meezan's open
branches.
o Customers visiting branches were asked to use hand sanitizers to wipe their
hands.
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42. Other
Than
That
…
Bank took a number of steps to help clients and manage the risks posed by
COVID-19:
o Floor officers at the branch operate Que-Matic (token) machines for customer
convenience so that clients do not touch the machines with their hands.
o Gloves and masks are provided to cleaners, teaboys, guards, and other support
employees.
o Rapid cash refilling at ATM machines to ensure cash availability at all times.
o Antibacterial/disinfectant cleaning of ATM machine screens and rooms on a regular
basis.
o Customers who visit the branch are informed and assisted to maintain social
distance.
o Cash tellers are advised to count money using cash machines.
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44. Digitalization The high-contact banking service is no longer one of the
most popular forms of 'People Processing' service
Banks have been digitized via digital banking
Funds Deposits
Top Ups
Account Management
Balance Inquiry
Utility bill payments
Covid 19 has played a critical part – allowing work from
home and transactions online
Meezan Bank continued to improve its products and
services - began functioning 24/7, allowing customers to
use their “anywhere, anytime” facility
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45. Digitalization Benefits of Digital Banking at Meezan Bank
Customer have access to banking functions 24/7
Customers don’t have to be physically present at the bank
It allows paperless banking
Allows customers to set up automated payments for their regular
utility bills
Allows customers to make online payments for online shopping
and other purposes.
Provides financial services to people in rural locations.
Customers' privacy and security are enhanced.
Allows for the immediate reporting and blocking of lost debit
cards.
The circulation of black money is restricted
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47. Physical
Facilities
▫ As these have a significant impact on the moods
of interaction individuals.
▫ Also impacts client satisfaction and quality
perceptions.
▫ Meezan Bank modified its branch premises to
provide improved accommodations to visitors.
▫ It includes environmental factors like
temperature, odor, and noise.
▫ Also includes tangible components such
pamphlets, letterheads.
▫ it has more than 902 branches in 117 cities
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48. Physical
Equipment ▫ Meezan Bank has a nationwide network of
ATMs
▫ In branches and significant remote sites.
▫ Meezan bank also offer access to more than
950 ATMs machines country-wide.
▫ Physical equipment includes updated
computer.
▫ They have install money handlers and vault
equipment
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49. Infrastructure
▫ Branches are located in area where there is
adequate space for customers for parking.
▫ Provide a waiting area for customers.
▫ The locker area or strong room is around 150 –
250 square feet in size.
▫ Infrastructure includes the installation of
security cameras.
▫ They do not have their own delivery personnel;
post-delivery is outsourced to TCS or DHL.
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50. Labor
▫ Most of the services provided by banks are of a
personal nature.
▫ There are over 12000 employees.
▫ Frontline banking personnel contact with
consumers to learn about their concerns and to
give appropriate solutions.
▫ Facilitate and care for their workers' best training
to employees
▫ Believe in work rotation as well.
▫ In order to provide customers with a variety of
experiences
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53. Home Page
This page can be accessed to
every tab,
1. Personal
2. Business
3. Ways to Bank
4. About us
Under personal tab
Bank Acc, Term Deposit, Debit
cards, consumer Finance
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54. Features of
Debit Card
▫ Types of Debit card
▫ Features of Debit card
▫ FAQs
▫ How to access debit
card
▫ How to use Debit Card
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55. It includes all the related
information which can be
related to any business i.e.
Corporate banking,
Investment banking,
Commercial banking,
SME banking
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Business Tab
57. Userfreindliness
&
Information
▫ The Website is highly user friendly,
▫ Visisotrs can visit any tab from any
page.
▫ No lag to be seen.
▫ Loading speed is extremely rapid.
▫ Every tab contains a lot of
information.
▫ FAQs tab is also available to make
the experience better.
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60. INFORMATION
▫ Information to the customers about the varying
banking facilities.
▫ Provide any information
▫ Resolve the queries and complaints which the
customers might face
▫ Providing certain FAQs for the customers in
effect for delivering their message.
▫ Car Ijarah, home financing loans, account opening
and management etc.
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61. ORDER -
TAKING
▫ No structural process for order-taking as in
terms of restaurant .
▫ The order-taking procedure is in form of
requesting for an account opening, and
requesting for a debit card facility, or trying to
acquire a loan and for that purpose the
customers can place their requests as to
whether the loan is approved or disapproved.
▫ Basic enrollment criteria and see if they are
eligible to apply for a certain service or not.
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62. BILLING
▫ First ever Islamic bank to provide an E-
banking solution.
▫ Zakat deductions are also made through
electronic means to provide a better
customer experience.
▫ Meezan bank does not offer any credit card
facilities. the customers can also pay for their
utility bills; electricity, water, gas and do
mobile top-ups.
▫ Access to the online statements based upon
their transactions of debits and credits.
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64. PAYMENT
▫ Range of options in order to choose whatever
payment option is most appropriate for them.
▫ Positioned themselves to be the premium
Islamic banking, and they operate of Riba
free services.
▫ Meezan bank does not offer any credit card
facilities.
▫ Operated through cash in hand and they rely
on debit and credit through cash withdrawal
and cash deposits.
▫ Check books are issued for those customers
who value the security
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65. CONSULTATION
▫ Provide information regarding the customer
complaints handlings and for reaching to their
management.
▫ Developed a complaint form for handling any
consumer inconvenience.
▫ Consultation advices when they are unaware of
the loan schemes, Car Ijarah payment schedules,
cash management accounts.
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67. Overall
Effectiveness ▫ The world's Strongest Islamic Bank by Balance
Sheet.
▫ The fifth strongest Islamic bank in 2020
▫ Best mobile app with the rating of 4.9 on play
store and apple store
▫ Is committed to motivating its employees with
certifications and monetary incentives.
▫ Somehow lacks optimization and effective
transition through transactions as many
customers.
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68. Overall
Effectiveness ▫ Meezan bank is not marketing as effectively as
compared to its rivals.
▫ Their rivals who are partnering up with CSR
work like “Sehat Card” etc, while Meezan lack
behind.
▫ Meezan bank is only lacking in customer service
and branch availability as compared to its
competitors
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69. Suggestions
▫ Customer to open their account through the mobile application
with biometric verification.
▫ Meezan bank should introduce the credit card services.
▫ Consistent auditing to make sure error free transactions.
▫ Customer service with better system optimization to improve
service quality and more training of staff members.
▫ Should increase their number of branches.
▫ Consistent investment in technology required to maintain app.
▫ invest more in promotional and Market activities like
Sponsorship. Like HBL in PSL
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