Meezan Bank is Pakistan's largest Islamic bank, operating 222 branches across 63 cities. It was the first bank to receive an Islamic banking license from the State Bank of Pakistan in 2002. Meezan Bank offers a range of Shariah-compliant deposit products like savings accounts, certificates of investment, and foreign currency accounts. It has a strong management team and balance sheet, with excellent profitability and high credit ratings. The bank aims to be the premier provider of innovative Islamic banking services in Pakistan.

1. Introduction
Meezan Bank is publicly listed company, first incorporated on January 27, 1997. It started
operations as an Islamic investment bank in August of the same year, which has been
licensed by the “State Bank of Pakistan ” to operate as an Islamic Commercial bank on 31st
January 2002. State Bank of Pakistan granted the Nations first full-fleged commercial
banking license of Islamic Banking to Meezan bank Ltd. It was a new era in banking Sector
history in Pakistan that Meezan Bank Ltd adheres strictly to the principles of Islamic
Shariah with absolutely no compromise, and is recognized as Pakistan’s truly premier
Islamic Bank. Meezan Bank is operating 222 branches in 63 different cities.
In addition, the “State Bank of Pakistan ” itself governs the activities of Meezan Bank and
its Shareholders. Meezan bank Ltd has a strong Balance sheet with excellent operating
profitability, including a capital adequacy ratio that has placed the Bank at the top of
industry, a long-term entity rating of A+, and a short-term entity rating of A1.
Meezan Bank stands today at a noteworthy point along the evolution of Islamic Banking in
Pakistan. The banking sector is showing a significant paradigm shift away from traditional
means of business and is catering to an increasingly astute and demanding financial
consumer who is also becoming keenly aware of Islamic Banking. Meezan Bank bears the
critical responsibility of leading the way forwarding establishing a stable and dynamic
Islamic Banking system replete with dynamic and cutting-edge products and services.
At Meezan Bank, we strive to find commonalties with the conventional banking system
with absolutely no compromise on Shariah rulings. The bank has developed an
extraordinary research and development capability by combining investment bankers,
commercial bankers, Shariah scholars and legal experts to develop innovative, viable, and
competitive value propositions that not only meet the requirements of today's complex
financial world, but do so with the world-class service excellence that our customers
demand, all within the bounds of Shariah.
Furthermore, the Bank has built a strong Information Technology and customer
knowledge-based focus that continues to use state of the art technology and systems. The
Bank's Corporate and Investment Banking business unit is geared towards nurturing and
developing a long-term relationship with clients by understanding their unique financing
requirements and providing Shariah compliant financing solutions across the horizon of
corporate banking and structured finance. The Bank is also implementing robust and
aggressive strategic and tactical initiatives on the consumer banking side. The Bank has a
rapidly growing branch network across all major cities nation-wide. Providing our
customers accessibility and convenience is a prime target, within an atmosphere and
culture of dedicated service and recognition of their needs.
They believe in adding value to our customers' lives and businesses through dynamic and
competitive products and services that fulfill their needs while conforming completely to
the dictates of Shariah. At the same time, we endeavor to deliver competitive risk adjusted
returns to our stakeholders.

2. 2 | P a g e
Shariah Board
The members of the Shariah Board of Meezan Bank are Internationally-renown scholars,
serving on the boards of many Islamic banks operating in different countries.
The members of the Shariah Board are:
Justice (Retd.) Muhammad Taqi Usmani
Dr. Abdul Sattar Abu Ghuddah
Sheikh Essam M. Ishaq
Dr. Muhammad Imran Ashraf Usmani - Shariah Advisor
Board of Directors
The Board of Directors of Meezan Bank are:
H.E. Sheikh Ebrahim Bin Khalifa Al-Khalifa (Chairman)
(Minister of Housing, Ministry of Housing, Kingdom of Bahrain)
Mr. Naser Abdul Mohsen Al-Marri (Vice Chairman)
Mr. Hussam Fawzi Al-Kharafi
Mr. Rana Ahmed Humayun
Mr. Mohammed Azzaroog Rajab
Mr. Ahmed Abdul Rahim Mohamed
Mr. Alaa A. Al-Sarawi
Mr. Mian Muhammad Younis
Mr. Mohammad Abdul Aleem
Mr. Irfan Siddiqui (President & Chief Executive Officer)
Mr. Ariful Islam (Chief Operating Officer)

3. 3 | P a g e
Organizational Structure

4. 4 | P a g e
Management
Irfan Siddiqui President & CEO
Ariful Islam Chief Operating Officer
Muhammad Shoaib Qureshi Commercial Banking
Arshad Majeed Operations
Rizwan Ata Central Circle (Lahore, Faisalabad and Multan)
Shabbir Hamza Khandwala Chief Financial Officer
Azhar Naqvi Risk Management
Saleem Khan North Region
Abdul Ghaffar Memon Remedial Asset Management / Prevention of Fraud
Faizur Rehman Information Technology
Irfan Ali Hyder Human Resource
Kazi Muhammad Aamir South-II Region
Muhammad Abdullah Ahmed Treasury & Financial Institutions
Muhammad Raza Consumer Banking
Munawar Rizvi Branch Expansion & Administration
Saleem Wafai Compliance
Sohail Khan Marketing and Training
Tasnimul Haq Farooqui Legal Affairs
Zia-ul-Hasan Internal Audit
Zubair Haider Corporate Banking
Aasim Salim Multan Region
Ahmed Ali Siddiqui Product Development & Shariah Compliance
Anwarul Haq Faisalabad Region
Muhammad Abid South-I Region
Syed Amir Ali Investment Banking
Tariq Mehboob South-III Region
Muhammad Asadullah Service Quality
Omer Salimullah Alternate Distribution Channels
Shariah Advisor
Dr. Muhammad Imran Usmani
Auditors
KPMG Taseer Hadi & Co.

5. 5 | P a g e
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.
Service Quality Mission
To develop a committed service culture which ensures the consistent delivery of our
products and services within the highest quality service parameters, promoting Islamic
values and ensuring recognition and a quality banking experience to our customers.
Objective
To develop a committed service culture which ensures the consistent delivery of our
products and services within the highest quality service parameters, promoting Islamic
values and ensuring recognition and a quality banking experience to our customers.
Corporate Values
Core Values
Shariah Compliance, Integrity, Professionalism, Service Excellence, Social Responsibility.
Brand Personality
A sober and established, strong, empathic, professional person; who is an extremely loyal
and dependable friend and business partner, and is committed to offering comprehensive
value-based Shariah compliant financial solutions.
Staff
Committed, motivated and professionally trained employees who are empathic to their
customer‘s needs.

6. 6 | P a g e
Relationships
Are long terms with Meezan Bank. They recognize their customer’s needs and strive to
ensure their fulfillment. All customers are treated professionally and in a friendly manner.
Swot Analysis
Strengths
 Effective HR Policies.
 ATM Machine in Branches.
 One Counter Operation.
 Islamic Banking.
 Loyalty of Employees.
 24/7 Online Banking.
 Internet banking facility.
 Excellent Environment.
 Efficient and Qualified Management.
 Fewer Competitors as Islamic Banking.
 A large range of Islamic Investment Schemes.
 Islamic Leasing System.
 No hidden charges.
 Rates are remarkably low as compared to other banks.
 Very High credit rating.
Weakness
 Lack of awareness of the people.
 Fewer Branches in Faisalabad.
 Less Advertisement.
 Main Branch isn’t Located in the Business Area.
 Online system is not so strong.
Opportunities
 More and more people are coming towards Islamic Banking System.
 Introduction of innovative products.
 New Market Segments for ijara, i.e. Home Appliances Products.
 Open New Branches in Faisalabad and other small areas.

7. 7 | P a g e
Threats
 Islamic banks are increasing.
 Traditional commercial banks are also introducing the Islamic Banking Facility.
 Personal Loan Scheme of other banks.
 New Innovative Schemes by Other Islamic banks.
Strategy
By implementing robust and aggressive strategic and tactical initiatives on the side of
consumer banking, Meezan Bank aims to fulfill its prime objective of providing customers
accessibility and convenience, within an atmosphere and culture of dedicated service and
recognition of their needs.
Growth
Meezan Bank has clearly established itself as the leading Islamic Bank in Pakistan with the
largest branch network in all major cities of the country. The banking sector is showing a
significant paradigm shift away from traditional means of business and is catering to an
increasingly astute and demanding financial consumer who is also becoming keenly aware
of Islamic Banking.
During the eight years of its operation as an Islamic commercial bank (from 2002 to 2010),
offering universal banking services to customers, Meezan Bank has been one of the fastest
growing banks in the history of the country’s banking sector. Average growth in deposits
has been 55% per annum during this period while the branch network grew from 4 to
2010. The bank has established a strong and credible management team comprised of
experienced professionals, that have achieved a strong balance sheet with excellent
operating profitability and strong ratios, which places the Bank at the top of the industry.
The Bank has been assigned a medium to long-term entity rating of AA- and a short-term
entity rating of A-1.
Technology
Meezan Bank has a strong technology focus. It has invested heavily in state-of-the-art
software applications – namely Temenos T-24 and Oracle. It has also recently upgraded its
hardware platform and also has a ‘hot’ disaster recovery site in place to cater to any
unforeseen eventualities

8. 8 | P a g e
Shareholding Structure
Noor Financial Investment Company is a Kuwaiti investment company, engaged in
investment and financial activities primarily in Kuwait, the Middle East, Asia and other
emerging markets. The company was established as the financing arm of the National
Industries Group (NIG), which is one of the largest private sector industrial groups in
Kuwait.
Noor provides a broad range of financial services, which include advisory services,
underwriting, and guarantee or counter guarantee services, term financing and
syndications. The company actively invests in local capital markets and also diversifies its
investments through international capital markets.
Pakistan Kuwait Investment Company (Private) Limited (PKIC), a joint venture
between the Governments of Pakistanand Kuwait, is one of the most profitable and
respected financial institutions in Pakistan. It is commonly referred to as a leading
example of a successful sovereign joint venture. PKIC has nurtured a diversified
experience in foreign currency transactions, project finance and syndications in 30 years
of its operations in Pakistan. It is the first financial institution in Pakistan that has been
rated AAA (Triple A) for medium to long term by JCR-VIS Credit Rating Company Limited,
an affiliate of Japan Credit Rating Company.
Islamic Development Bank (IDB) is located in Jeddah and is an international financial
institution established in 1975 in pursuance of a declaration of the Conference of Finance
Ministers, of Muslim countries to foster economic development and social progress in
member (Islamic) countries. IDB has equity of approximately USD 8 billion and enjoys
presence in 56 member countries. The Bank participates in equity capital and grants loans
for productive projects and enterprises besides providing financial assistance in other
forms for economic and social development.

9. 9 | P a g e
Product Information
Meezan Bank offers a diverse range of Shariah-compliant deposit products through its 222
branches across 63 cities in Pakistan. All products of the Bank are approved by the
Shariah Supervisory Board and are 100% Riba Free.
The Bank's nationwide free real-time online banking system allows customers to conduct
banking transactions at all branches of Meezan Bank, regardless of which branch their
account is in. Meezan Bank also offers free Online banking on all Pak Rupee accounts,
globally accepted VISA Debit Card, SMS Alert service on every debit and credit transaction
in customers' account, free internet banking facility, 8 to 8 banking at selected branches,
and a 24/7 Call Center.
Meezan Rupee Current Account
This is a checking account that works on the basis of 'Qard' and provides the convenience
of conducting day-to-day transactions. The minimum investment required for opening an
account is Rs.10,000. There is no restriction on withdrawals or numbers of transactions
and there is no deduction of service charges if the balance maintained is low.
Meezan Rupee Savings Account
Meezan Bank's Rupee Savings Account provides monthly profit along with a variety of free
packaged benefits. Profit is calculated on daily balance and credited into the account on a
monthly basis. There is no minimum investment required for opening an account and no
deduction of service charges if the balance maintained is low.
Meezan Bachat Account
Meezan Bachat Account is a savings account that offers a higher expected profit. The
minimum investment required for opening an account is Rs. 25,000. Profit is calculated
with a higher weightage for account balance upto Rs. 1 million and a lower weightage is
assigned on the balance over and above Rs. 1 million. There is no restriction on
withdrawals or numbers of transactions and there is no deduction of service charges if the
balance maintained is low.

10. 10 | P a g e
Karobari Munafa Account
Meezan Bank's Karobari Munafa Account is a savings account where profit is calculated on
daily balance and credited into the account on a monthly basis. The minimum investment
required for opening an account is Rs.1 million. On maintaining an average monthly
balance of Rs. 1 million, the customers can avail free cheque book & free pay order
facilities. There is no restriction on withdrawals or numbers of transactions and there is no
deduction of service charges if the balance maintained is low.
Meezan Business Plus Account
Meezan Business Plus is a savings account with several unique features that make it very
suitable for use as a business account. The minimum investment required for opening an
account is Rs.100,000. On maintaining an average monthly balance of Rs.100,000 the
customer can avail a large number of free services including free cheque books, free pay
orders, free VISA Debit Card, free account statements, free Online banking, free internet
banking, free hold-mail facility, free SMS Alert service, free inter-city clearing, etc. There is
no restriction on withdrawals or numbers of transactions and there is no deduction of
service charges if the balance maintained is low.
Dollar Savings Account
Meezan Bank's Dollar Savings Account is a foreign currency savings account that can be
opened by both individuals and corporates. Profit is calculated on daily balance and
credited into the account on a monthly basis. The minimum investment required for
opening an account is USD 100. There is no restriction on withdrawals or numbers of
transactions and there is no deduction of service charges if the balance maintained is low.
Euro Savings Account / Pound Savings Account
Meezan Bank's Euro Savings Account & Pound Savings Account are foreign currency
saving accounts that can be opened by both individuals and corporates. Profit is calculated
on daily balance and credited into the account on a monthly basis. The minimum
investment required for opening an account is Euro / GBP 100. There is no restriction on
withdrawals or numbers of transactions and there is no deduction of service charges if the
balance maintained is low.

11. 11 | P a g e
Certificates of Islamic Investment
Certificates of Islamic Investment are Term Deposit certificates for investment periods
ranging from 3 months to 5 years with profit payment on monthly, quarterly and maturity
basis. Minimum investment required is Rs. 50,000 and there is no limit on maximum
investment. Pre-mature withdrawal can be made as per the approved schedule.
Meezan Amdan Certificate
Meezan Amdan Certificate is a Term Deposit certificate that offers a higher expected
monthly profit to investors for periods of 51 / 2 & 7 years. It is ideal for those individuals
and corporates that need a regular stream of monthly income. Minimum investment
required is Rs. 100,000 for regular customers, while for widows and senior citizens the
minimum investment is Rs.50,000. Pre-mature withdrawal can be made as per the
approved schedule.
Monthly Mudarabah Certificate
The Monthly Mudarabah Certificate is a short-term deposit product for an investment
period of one month only. Profit is paid on maturity with re-investment option available on
a continuous basis. Minimum investment required is Rs. 100,000. Pre-mature withdrawal
can be made as per the approved schedule.
Dollar Mudarabah Certificate
Dollar Mudarabah Certificates are foreign currency Term Deposit certificates through
which one can invest US Dollars for defined periods ranging from 3 months to 3 years and
earn profit six-monthly or at maturity. Minimum investment required is USD 10,000 and
there is no maximum investment limit. Pre-mature withdrawal can be made as per
approved schedule.
Meezan Labbaik Saving Aasaan
Meezan Labbaik Saving Aasaan is a deposit product for individuals who wish to save for
their spouse, children, parents or other family members for performing Hajj or Umrah on a
future date. It is a Recurring Deposit Account, where the customer deposits monthly
contribution as per a schedule. The minimum investment required for opening an account
is Rs. 1,000. This is a non-checking account where no cheque book or VISA Debit Card is
issued. Profit is calculated on daily balance and credited into the account on a monthly
basis. Apart from regular monthly contribution, the customer can also deposit additional
amounts as per their convenience in order to complete the targeted deposit amount and

12. 12 | P a g e
make the desired journey earlier than initially planned. After accumulation of the desired
deposit amount the customer can avail any one of the packages offered by authorized
travel agents through Meezan Bank or utilize the funds for alternate purposes.
Meezan Labbaik Travel Aasaan
Meezan Labbaik Travel Aasaan is a service that Meezan Bank provides to facilitate those
customers who wish to perform Hajj or Umrah. The Bank's role is limited to sales & funds
collection agent of selected Travel Agents while delivery of the selected package is the
responsibility of the Travel Agent. Labbaik Travel Aasaan has two variants:
1. Customer can pay full cost of the selected package upfront and travel right away
after completing all travel arrangements
2. Customer can pay a down payment with first installment and travel after
completing all travel arrangements. The remaining cost of the package will be
financed by the Bank and the customer will repay this in 11 installments with no
additional charges after performing Umrah / Hajj.
Car Ijarah
Meezan Bank's Car Ijarah is an auto finance facility based on the principles of Ijarah. Car
Ijarah is a car rental agreement under which the Bank purchases a new/used car of the
customer's choice and rents it out to the customer for a period of 3 to 5 years, agreed at
the time of the contract. The Bank offers low monthly rental and quick processing and
delivery. Rental payment starts after delivery of vehicle to the customer. The Bank also
provides Takaful cover of the car and free.
Easy Home
Meezan Bank's Easy Home is a housing finance facility based on the principle of
Diminishing Musharakah. With Meezan Easy Buyer - the customer can buy a house, with
Meezan Easy Home - build a house, with Meezan Easy Renovate - renovate a house and
with Meezan Easy Replace, replace an existing conventional housing loan with Riba-free
Islamic financing. With flexible financing tailored to support the customers' need and a
quick processing time, Meezan Bank's Easy Home provides one of the best options to buy,
build, renovate or replace a house.

13. 13 | P a g e
Online Banking
Meezan Bank offers free Online banking facility on all Pak Rupee accounts to its customers.
This enables the Bank's customers to access their accounts and conduct banking
transactions from any of Meezan Bank's nationwide, regardless of which branch or city
they have their account in. This facility provides great convenience for depositing and
withdrawing cash, making pay-orders and availing numerous other banking services.
8 to 8 Banking
Meezan Bank is the first bank in Pakistan to introduce the concept of 8 to 8 banking, giving
its customer access to their branch from 8 O' clock in the morning to 8 O' clock at night.
This facility is available at select branches. Customers can visit the selected branch early in
the morning before going to work or can drop by in the evening on their way home
without having to worry about losing valuable office hours.
Meezan VISA Debit Card
Meezan VISA Debit Card provides convenience to the customer to access their money
anytime and anywhere at all outlets displaying the VISA symbol. Meezan VISA Debit Card
is accepted at more than 30 million retail outlets worldwide. With Meezan VISA Debit
Card, customers have access to the money in their account wherever they are, whenever
they want, wherever they see the VISA symbol.
Internet Banking
Meezan Bank provides a smarter way to bank through its internet banking facility,
providing customers global access to their account 24 hours a day, 7 days a week. Meezan
Bank's internet banking provides access to the following facilities:
 Balance inquiry of multiple accounts
 Viewing account statement
 Real time cheque status and stop payment request
 Cheque book and pay-order request
 Lodging complaints and tracking their status
 Account activity alerts

14. 14 | P a g e
SMS Alerts
Meezan Bank's SMS Alert service keeps customers informed about all activity in their
account; enabling them to keep track of their financial transactions. Once the customer
signs-up for SMS Alerts, he/she will receive an SMS whenever there is a debit or credit
transaction in their account. The SMS will give transaction details and the latest account
balance. To avail the SMS Alert service, customers can visit any branch of Meezan Bank and
complete the application form to activate the service.
Meezan ATM Network
Meezan Bank offers a wide network of 169 ATMs located at its branches as well as at
prominent off-site locations across the country. The Bank also offers access to more than
2,000 ATM locations country-wide via 1-Link and MNET Networks.
Meezan Quick Pay
Meezan Quick Pay is a facility that allows customers to pay Utility Bills or mobile phone
usage through Meezan Bank's ATMs, meaning that they no longer have to wait in queues to
pay these bills. Customers can pay their telephone, gas and electricity bills of selected
companies at any of Meezan Banks ATMs nationwide - 24 hours a day, 7 days a week.

15. 15 | P a g e
Competitors
Al-Baraka Bank Pakistan Limited
Al Baraka Bank (Pakistan) Limited (ABPL) is the result of a merger between Al Baraka
Islamic Bank Pakistan (AIBP), the branch operations of Al Baraka Islamic Bank (AIB)
Bahrain, a subsidiary of Al Baraka Banking Group (ABG) Bahrain, and Emirates Global
Islamic Bank (Pakistan). The merged entity commenced operations on November 1st
2010. The merger, a first in the Islamic Banking sector in Pakistan, positions ABPL to play
an important role in further growing an industry which has witnessed tremendous growth
over the last 5 years.
BankIslami Pakistan Limited
BankIslami Pakistan Limited (“BankIslami”) is located in Karachi. BankIslami
Pakistan received an Islamic commercial banking license from State Bank of Pakistan on
March 31, 2005. It is the first financial institution in Pakistan that is going to focus on
Wealth Management as the core area of business. It intend to offer retail banking products,
proprietary and third party product, and integrated financial planning services. The Bank
started its operations in the last quarter of year 2005.BankIslami is the Joint venture
project of 3 groups with 18.75% equity each, namely Jahangir Siddiqui & Co. Pakistan, DCD
Group UK, & Dubai Bank. Irrespective of stiff competition in the market the Bank has
successfully managed to grow over 400% during last one year and all set to be a 100
Online Branch Network by the year end 2008.

16. 16 | P a g e
Dubai Islamic Bank Pakistan
Limited
Dubai Islamic Bank Pakistan Limited (DIBPL), commenced operations in 2006. Since then,
DIBPL has undertaken major initiatives to expand its branch network across the country.
Under its consumer banking division, the bank is offering state-of-the-art Sharia compliant
products that effectively compete with those being offered in the market by conventional
banks. It also has expertise in providing Retail, Private, Small and Medium Enterprises,
Corporate, Investment Banking and Advisory services.
The Bank launched Pakistan's first Islamic Visa Debit Card and introduced financial
products covering Home Financing, Auto Financing, and Depository products.
Dawood Islamic Bank Limited
Dawood Islamic Bank Limited (DIBL), Pakistan's sixth full-fledged Islamic commercial
bank officially commenced its operations on Friday, April 27, 2007. The Bank is the result
of an initiative of the First Dawood Group who teamed up with Islamic Corporation for the
Development of the Private Sector (ICD) Jeddah, Unicorn Investment Bank - Bahrain, Al
Safat Investment Company - Kuwait, Gargash Enterprises (LLC) - Dubai, Mr. Azam Essof
Kolia - a Singapore based entrepreneur and Shaikh Abdullah Mohammad Al-Romaizan, an
entrepreneur from the Kingdom of Saudi Arabia.

17. 17 | P a g e
Financial Highlights at Glance

18. 18 | P a g e
Profit after taxation grows from 1025M Total Deposits increasedfrom Rs.100333M
to 1649M (2009 – 2010) to Rs. 131070M (2009 – 2010)
Total assests increases from Rs. 124169M to Share Capital increases from Rs. 6650M to
154752M (2009 - 2010) 6983M (2009 – 2010)

19. 19 | P a g e
Horizontal Analysis of Last Six Years

20. 20 | P a g e
Vertical Analysis of Last 6 Years

21. 21 | P a g e
Achievements
Branch Network
Alhamdulillah, Meezan Bank has established 222 branches in 63 cities across Pakistan.
This is a milestone that is not only the success story of Meezan Bank but also the
continuing success story of Islamic banking in Pakistan. With this extensive network, our
existing and potential customers are now closer than ever in benefiting from Islamic
Banking at their doorstep. All branches provide real-time online banking facilities to
customers
Customers
As the first and largest dedicated Islamic bank in Pakistan, Meezan Bank team continues to
build on its Vision of establishing "Islamic Banking as Banking of First Choice". One of the
key objectives of the Bank is to have its footprint strategically placed throughout the
country enabling the public to avail the benefits of Shariah-compliant banking in their
neighborhood.
Credit Rating
Meezan Bank has reaffirmed its entity ratings at A+ for medium to long-term and A1 for
short-term. This rating was made by JCR-VIS Credit Rating Company, which has also set
Meezan Bank’s outlook on medium to long-term rating as “Stable”. The rating is yet
another milestone achievement in the Bank’s endeavor to be the Bank.
Meezan Bank’s ratings are based on its shareholding with world-renowned financial
institutions, pioneering role in the industry, strong management initiatives in continuously
introducing various range of Islamic products. The Credit Rating agency JCR-VIS has
expressed commendation to Meezan Bank management’s ability to deploy funds in core
banking assets, which reflected healthy growth trends last year.

22. 22 | P a g e
Achievements by Year
2011
Meezan Bank registers record growth in profit and deposits in first quarter ended 31st
March 2011
Meezan Bank awarded ‘Best Islamic Bank in Pakistan.
2010
Meezan Bank Annual Report receives award
Meezan Bank receives award at the Islamic Finance News Road Show
Meezan Bank named Best Islamic Financial Institution in Pakistan by Global Finance
magazine
Meezan Bank awarded ‘Islamic Bank of the Year’ by CFA Association of Pakistan
Meezan Bank awarded ‘Best Islamic Bank in Pakistan’ by ASIAMONEY
Meezan Bank awarded ‘Best Islamic Bank in Pakistan’
2009
Meezan Bank’s Annual Report 2008 rated among Top 5 Annual Reports by joint committee
of ICAP & ICMAP
Meezan Bank selected as the Best Islamic Financial Institution in Pakistan
2008
Meezan Bank awarded as the Best Islamic Bank of Pakistan
2007
Meezan Bank’s Corporate Report awarded 2nd prize in the financial sector

23. 23 | P a g e
Statement of Financial Position

24. 24 | P a g e
Profit & Loss Account

25. 25 | P a g e
Statement of Comprehensive Income

26. 26 | P a g e
Cash Flow Statement

27. 27 | P a g e
Statement of Changes in Equity

28. 28 | P a g e
Future Outlook
The Islamic financial assets are expected to cross $1 trillionby 2010 in other words 12%
of domestic banking industry share by 2012. The Islamic Banking industry continues to
grow in Pakistan and six-full fledged Islamic Banks are now in operation. It is interesting to
note that the conventional banks are increasingly realizing the huge potential market
backed by the untapped and steadily growing appetite for Islamic banking products; hence
the drive for entering this market is based on business considerations in addition to
religious considerations. As the level of awareness and understanding of Islamic Banking
remains very low, this might pose as a threat to the credibility to the full-fledged Islamic
Banks like Meezan. For this reason, there is a need for all banks to act in concert and help
build awareness of Islamic Banking throughout the country.
Islamic banks should come forward to serve the nation by providing the less privileged
with the opportunity to meet their needs in the Shariah Compliant manner. The Bank,
which has firmly established its leadership position in the Islamic Banking industry, should
focus more on the development and offering of the financing products of social welfare
such as education and micro finance.
Going forward, Meezan Bank is cognizant of State Bank of Pakistan s (SBP) initiative to
introduce e-bond automated trading for GOP securities, which includes Ijarah Sukuks
through Bloomberg. Being a primary dealer for GOP Ijarah Sukuks, Meezan Bank will try to
not only introduce this platform within itself, but also create a viable secondary market for
these Sukuks.
Meezan Bank continues to facilitate other Islamic banks and Islamic banking branches in
their quest to deploy or solicit excess liquidity through various Islamic modes. Treasury is
in constant liaison with the Bank s Product Development and Shariah Compliance (PDSC)
department to devise new treasury products with the vision to create an Islamic interbank
money market.
The bank will strive to build a high quality financing portfolio and increase ADR to a level
between 55% and 60% so as to increase shareholder return.
As technology assumes ever increasing importance in the banking services industry, the
Bank has developed a comprehensive IT strategy to see it through the coming years. The
Bank is in process of implementing a new core banking application -T-24 (a product of
Temenos, a leading Swiss software company). Core retail modules (Branch-wise
functionality) have already been successfully rolled out in 51 branches. The deployment is
in progress and the entire network will be switched to T-24 during 2010.
Meezan Bank is well positioned to meet the challenges of the future. The Board is confident
that the Bank will continue to play its leadership role in the Islamic Banking industry.

29. 29 | P a g e
Future Prospects
To acquire and implement data warehousing which will enable us to consolidate the data
from all our branches into a single repository for a completely integrated, 360 degree view
of Meezan Bank’s businesses. Information from every level and facet of organization will
be easily mined, shared and most importantly used throughout the bank.
We also plan to develop a comprehensive Corporate Banking Suite enabling our corporate
customers to use a fully functionality and convenient banking solution at their own
doorsteps.
SMS Banking is another value added service that will provide real comfort for mobile
customers to do banking the way they want to. They will be offered the same services as
other channels so that our customers enjoy banking with Meezan wherever they are,
whenever they want.
Utility Bills Payment would provide customers the convenience to pay their utility bills at
any time based on their choice such as through automatic payment, by 24/7 call center, via
ATM or using internet banking.
Meezan Bank is envisaging the concept of a “Self Service Branch” using state-of-the-art of
technologies. The branch will be equipped with a system through which a customer will
immediately be able to deposit or withdraw cash or make electronic bank transfers. These
systems would be capable of distinguishing, checking, counting, sorting and booking
multiple notes in a single transaction.
Information System Audit- in order to ensure that our that our information systems are in
accordance with the Prudential Regulations and in compliance with the guidelines set by
our Shariah Board, we have earmarked the budget to carry out a comprehensive audit of
our Information Systems. We hope that this exercise will help us in achieving the highest
levels of reliability and confidence for our systems.

30. 30 | P a g e
Conclusion
Meezan Bank Limited is the first scheduled bank in Pakistan, which has been licensed by
the State Bank of Pakistan to operate as an Islamic Commercial Bank. Meezan Bank limited
adheres strictly to the principles of Islamic Shariah with absolutely no compromise and is
recognized as Pakistan’s truly Premier Islamic Bank.
Meezan bank is now expanding its network of branches throughout Pakistan. It provides
Shariah compliant products to all its customers. The management staff is well-trained,
highly cooperative, motivated, experienced and dedicated professionals.
With all these initiatives Meezan Bank strives to make Islamic banking a banking of first
choice. May Allah grant it the ability to accomplish its goals and help it to truly contribute
the cause of Islamic Banking.
Corporate Information
Board of Directors
H.E. Sheikh Ebrahim Bin Khalifa Al-Khalifa Chairman
Naser Abdul Mohsen Al-Marri Vice Chairman
Rana Ahmed Humayun
Mohammed Azzaroog Rajab
Ahmed Abdul Rahim Mohamed
Nawal Ahmed
Alaa A. Al-Sarawi
Mian Muhammad Younis
Mohammad Abdul Aleem
Irfan Siddiqui Presiden & CEO
Ariful Islam
Shariah Supervisory Board
Justice (Retd.) Muhammad Taqi Usmani Chairman
Dr. Abdul Sattar Abu Ghuddah
Sheikh Essam M. Ishaq
Dr. Muhammad Imran Usmani

31. 31 | P a g e
Audit Committee
Mian Muhammad Younis
Ahmed Abdul Rahim Mohamed
Mohammad Abdul Aleem
Risk Management Committee
Alaa A. Al-Sarawi
Mian Muhammad Younis
Ariful Islam
Human Resource Committee
Ahmed Abdul Rahim Mohamed
Naser Abdul Mohsen Al-Marri
Irfan Siddiqui
Company Secretary
Tasnimul Haq Farooqui
Bibliography
http://www.meezanbank.com/index.aspx
http://www.google.com.pk
http://www.bankersalmanac.com/info/annualreports.aspx?campaignid=70120000000cu
tK&gclid=CK3w1faX9agCFcRtfAodDT2RVQ
http://annualreport.portofrotterdam.com/