newsletter jun old

8/8/2019 Newsletter Jun Old

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03Meezan Bank RankedAmongst The World'S BestIslamic FinancialInstitutions-2009

03Inauguration of ConsumerBanking Centre

09New Booklets introduced onTopics of Islamic Shariah

10Meezan Bank crosses81.6 Billion Rupees in Deposit

14Meezan Bank's 166 BranchNetwork Available on GoogleMap Maker

16Interview withMr. Omer Salimullah,Manager, ADC

18Meezan Bank DepositMobilization Campaign

Inside

MEEZANMeezan Bank Launches

LABBAIK

The launch of Meezan Labbaik symbolizesMeezan Bank's dedication towards providingShariah-compliant products and services.

Meezan Labbaik provides Muslim pilgrimsthe opportunity to perform Hajj & Umrahwith comfort at an affordable cost, while thebank takes care of all arrangements andtravel formalities.

Selected well-reputed travel-agents havepartnered with Meezan Bank to ensure thatcustomers receive the best travel packages ateconomical prices. Keeping customerconvenience as a priority, customers may visit any of the 166 Meezan Bank branches where the officer will assist in every stepfrom VISA processing and ticketing to hotelreservation and transportation.

The product was lunched in ceremony onMonday 22nd June 2009. The President &CEO, Mr. Irfan Siddiqui, and the COO, Ariful Islam introduced the product. TheProduct Manager of Meezan Labbaik, Mr.Fahim Siddiqui, briefed the audience aboutproduct and its key features.

Addressing the audience, Dr. Imran Usmani,(Shariah Advisor), said that the launching ofMeezan Labbaik is amongst the Bank'sobjectives to provide personalized services bymeans of Islamic finance.

Mr. Ahmed Ali Siddiqui, Executive VicePresident, Product Development andShariah Compliance, addressed the queriesof journalists and media personnel.

NEWSLETTERAPR-MAY-JUN 2009

By: Owais Ahmed Siddiqui

Senior Officer,Product Development & Shariah Compliance


2/20

Messageof the COO We have completed the first half of the year 2009,

Alhamdulillah, and your Bank continues to perform well

under the given circumstances. The economic outlook is

difficult, with low GDP growth rate and high inflation,

but the Agricultural Sector continues to perform very well

as a result we have been able to sustain the negative

growth experienced by the manufacturing sector. Our

outlook for the second half of the year remains 'cautiously

optimistic'; the stock markets have shown some signs of

recovery and the political scenario also appears to be

steady for the moment. The financial crisis that the world

has passed through and is still experiencing has made us

realize that only the efficient and well-managed banks will

survive and succeed in the times ahead and it is up to us

as a team to collectively work towards maintaining our

position as leaders, both in our cause and in Islamic

Banking.

Alhamdulillah, we achieved our target of expanding ournetwork to 166 branches in 2008 and will Insha' Allah

continue on this path of growth in times to come. The

investment in the branch network is now paying dividends

and contributing strongly in deposit mobilization. Our

deposit has now crossed Rs. 81 billion, an increase of 14%

over the December 31 2008 figure. I would like to thank

the entire Meezan Bank Team and especially the Branch

Banking Team for this achievement.

As I have been emphasizing in the previous newsletters,

our focus on cost-control should not waver since in the

present economic scenario, controlling costs is as

important as generating business for improving bottom-line profitability and every single team member of Meezan

Bank will have to focus on this priority. Small savings add

up, so no matter how insignificant the saving may appear

you must opt for it. At the same time we will have to find

ways to increase business and transaction volume without

any corresponding increase in our headcount or overhead

costs.

Focus on technology is a key part of our strategy. The

implementation of our new core banking application - T-

24 is making good progress. Alhamdulillah, five branches

have gone live and work on other branches is progressing

as per our schedule.

Lastly, I would reiterate the importance of service quality.

Organizations that lack the focus of delivering superior

service to their customers do not survive for long in the

modern competitive world; and those that have this focus

become leaders in their field. I am happy to acknowledge

that with the collective effort and contribution of all staffwe have made significant strides in this area. However, this

is only the beginning and if we become complacent we

will fall behind our competitors. Effective service quality

is a function of our desire and willingness to give the 'best'

service. Again this is a collective effort and it is up to the

seniors to coach and mentor those more junior to impress

upon them the importance and need for service quality.

Let us work together to make Meezan Bank the best and

most efficient bank in Pakistan.

JazzakAllah Khair.

Ariful Islam

MEEZ

ANBANK02

Editor's Note, Meezan Bank's first printed newsletter is dedicated toyou, the people of Meezan Bank!

The recent achievements of Meezan Bank that have been covered in this newsletter have been possible onlybecause of your dedication and hard-work and it is only your devotion and efforts that have brought MeezanBank among the ranks of the World's Best Islamic Financial Institutions.

This is the first time that we are bringing out the newsletter in the printed form. This has been done to increasethe accessibility of this document so that our aspirations, successes, challenges and achievements can be sharedwith each member of the Meezan team.

Editorial TeamChief Editor: Sohail Khan

Hafidh Jamaluddin

Creativedge Communications

Editor:

Creative:

A Publication of Meezan Bank Marketing

Meezan Bank - Head Office2nd and 3rd Floor PNSC Building,M.T. Khan Road, Karachi, Pakistan.Phone : (92-213) 5610582Fax : (92-213) 5610375Website: www.meezanbank.com

If you have the flair for writing and you want toshare your thoughts with us we would love to haveyou onboard.

Feel free to write to us or send us your suggestionsand feedback

Email: [email protected]

is also available for download at:

www.meezanbank.com/newsletter.aspx

-Ed


3/20

MEEZ

ANBANK 03

STISLAM

ICFI

ALI STI I

ARDS

0

Ranked amongst 'The World's Best IslamicFinancial Institutions 2009', Meezan Bank hasbeen titled by Global Finance (magazine) theBest Islamic Financial Institution in Pakistan.

Selected for its contribution to the growth ofIslamic Financing and successful meeting ofcustomer needs for Shariah CompliantProducts, Meezan Bank has laid the foundations

for fast growth of the Islamic Banking Industryin Pakistan.

Growth in assets, profitability, geographicreach, strategic relationships, businessdevelopment, innovation in products and theopinions of equity analysts were taken intoconsideration in the ranking of the bestIslamic financial institutions of the world.

"The winning banks were all noteworthy in theirdedication to satisfying their customers' need in

accordance with the rules of Islamic Finance". -Joseph D. Giarraputo, Publisher, Global Finance

Staff Hajj & Umrah Policy The Staff Hajj & Umrah Policy facilitates andprovides an opportunity for employees to performthe holy rituals via special packages and paymentoptions.

All employees of the Bank are eligible, along withtheir spouse and blood relatives, to apply for thespecial packages of Labbaik Travel Aasaan, full

payment plan. Regular and confirmed employeeswith two years of completed service may apply for theInstallment plan and pay in installments of up to 18months with a minimum down payment of 10% ofthe selected package cost. In case of the latter option,the Bank may incur some additional costs for

payment to third parties which will be waived off forthe employees.

Alternatively, employees may choose to take benefitfrom Labbaik Saving Aasaan for their Umrah & Hajjwhere they will be entitled for profit on the depositedamount in the account thus providing a biggerincentive to save for the holy rituals.

Special packages for the staff will be announced byMeezan Labbaik Unit from time to time. This policycame into effect shortly after the launch of MeezanLabbaik to the public.

2009

Meezan Bank

THE WORLD'S BEST

RANKED AMONGST

Islamic Financial Institutions

The inauguration of Meezan BankConsumer Banking Centre highlightedthe newly structured Consumer BankingDepartment setup earlier this year.

Housed at the Consumer Banking Centrethe departments under Mr. MohammadRaza, Head of Consumer Banking includeLiability Sales, Car Ijarah, Easy Home andCollection and Recovery.

Located in Karachi, the inaugurationceremony was attended by the CEO,COO, Departmental Heads andRegional/Area Managers (South). At theoccasion Mr. Raza expressed hisconfidence in the new structure withexpectations to bear fruits of success within a short span of time with thecontinuous effort of the team and thesupport and guidance of the management.

INAUGURATION OF

CONSUMER BANKING CENTRE


4/20

MEEZANBANK04

Meezan Bank Ltd. and Pak-Qatar Family Takaful Ltd.(PQFTL) have signed an agreement whereby allcustomers of Meezan Bank's Housing Finance (EasyHome) will be provided with Shari'ah-Compliant Life Takaful Coverage. Mr. Irfan Siddiqui, President &CEO, Meezan Bank Ltd and Mr. P. Ahmed, CEO,Pak-Qatar Family Takaful Ltd. signed the TakafulAgreement.

According to the agreement, all housing financecustomers of Meezan Bank will be providedcomprehensive Takaful that will cover not only life butalso accidental and natural disability.

Speaking on the occasion, Mr. Irfan Siddiqui said thatMeezan Bank has always focused on coming up with

Halal Riba-Free Products and innovative facilities forits customers and the Takaful arrangement withPQFTL is another step in the direction of makingIslamic Banking the banking of first choice.

Mr. P. Ahmed, CEO Pak-Qatar Family Takaful Ltdsaid that they were delighted to sign the Takafulagreement with the Country's pioneering IslamicBank, which will pave the way for numerous benefitsfor its customers. He said that Pak-Qatar Family Takaful is always looking for ways to provide valueadded products to the people of Pakistan. "By joininghands with Meezan Bank we would be able to reachout to many people who would otherwise not havehad the benefit of a customer centric and Shari'ah-compliant risk mitigation tool."

Mr. P. Ahmed said that Pak-Qatar Family Takaful hasthe financial strength and expertise to safeguardinvestments and meet the long-term investment needsof the people in Pakistan. We are rapidly expandingour distribution network in order to achieve our vision of providing financial protection to everyone,through Takaful, he added.

Pak-Qatar Family Takaful, the pioneering of Family Takaful Csompany in Pakistan, is sponsored byleading financial institutions in the State of Qatar andFWU AG. The Company has wide geographical reachin the Country and is quickly growing in its corporateand individual customer base.

Pak-Qatar Family Takaful to provide Takaful Cover to

MEEZAN BANK'SCUSTOMERS!


5/20

MEEZ

ANBANK 05

Hamdard Laboratories, who arealready banking with MeezanBank, have now further

strengthened their relationship with the bank by utilizing itsCash Management Services,under which Meezan Bank,using its Online Services andlarge branch network, willmanage the entire deposits andpayments workload with thedealers and clients of HamdardLaboratories across Pakistan.

Meezan Bank and HamdardLaboratories are also

considering the possibility ofinstalling Meezan Bank's ATMsat Hamdard's factory premises.

Meezan Bank Limited and Hamdard Laboratories (Waqf) Pakistan signed an agreement under which

Meezan Bank will provide Cash Management Services to Hamdard Laboratories. Mr. Irfan Siddiqui,

President & CEO, Meezan Bank Limited and Ms. Sadia Rashid, Chairperson, Hamdard

Laboratories (Waqf) Pakistan signed the agreement.

Speaking on the occasion, Mr. Irfan Siddiqui, said that this agreement shows that businesses in

Pakistan are cognizant of the fast changing trends in the Banking Industry and are re-evaluating their

business structures to provide their customers excellent services in a Shariah-Compliant manner. He

said that this also reflects on the immense growth potential in the Islamic way of doing business.

CASH MANAGEMENT SERVICES AGREEMENT SIGNED WITH

HAMDARD LABORATORIES

Meezan Bank has entered into a major customer

facilitation agreement with MNET Services Pvt.Ltd that would facilitate its customers inpayment of Utility Bills on Meezan Bank's ATMNetwork.

The agreement was signed by Ariful Islam,COO, Meezan Bank Ltd and Mr. Adil Shabbir,CEO, MNET Services (Private) Ltd at MeezanBank's Head Office.

This service will be available at more than 140Meezan Bank ATMs countrywide and customerscan enjoy the facility of paying their Utility Bills24 hours a day, 7 days a week.

Speaking on the occasion, Ariful Islam, that

Meezan Bank is striving hard to facilitate itscustomers with the best available value-addedservices and this agreement with MNET is a signof our continuous efforts and commitment.

Mr. Adil Shabbir said that MNET Services(Private) Ltd is very pleased to sign thisagreement with Meezan Bank. He said thatMNET would continue to support MeezanBank in its pursuit for providing technology-based services to its customers.

UTILITY BILLS PAYMENT

AGREEMENT WITH


6/20

si sAS BANKMeezan Bank TRADE ACCORD WITH

The signing ceremony for Wheat ProcurementFinancing to Government of Punjab between MeezanBank, AlBaraka Islamic Bank and Bank of Punjab isthe first time that Islamic Banks are taking part inWheat Financing for the Government. Meezan Bankwill finance a major share of the Rs.3 billion in theconsortium organized by Bank of Punjab.

The President of Bank of Punjab attended the signingceremony along with the signatories of the Punjab

Food Department and Senior Management of MeezanBank Limited.

Participation in this facility is part of Meezan Bank'svision of providing the benefits of Islamic Banking toall sectors of the economy and this is the first timethat Islamic-Shariah-Compliant Financing has beenprovided to the Government for procurement ofwheat.

Meezan BanDevelopmenrecently signAccord in orfacilitate theof Letters ofUnder theagreement tDevelopmen

would indire

k Letter of Credit. ADBs a guarantor for importPakistani businessmen,g Pakistani tradee facility would provideupport to Pakistanithese challenging times fornomy.

nt was signed by Mr. M., Regional Manager-Northtafa Rabbani, Area Manager,behalf of MBL and Mr.DB's Country Directorof ADB.

A major milestone has recently been achieved byIslamic Banks towards development of an InterbankMarket for Islamic Banks.

Meezan Bank, recently hosted a meeting of ShariahAdvisors and Product Development experts of all fullfledge Islamic Banks to decide upon the mechanismfor Inter-bank placement amongst Islamic Banks andto move towards the development of an Islamic Inter-bank Market. The Meeting was attended by Shariah Advisors /Product Development Heads of Meezan Bank, Bank

Islami, Dubai Islamic Bank, Emirates Global IslamicBank and First Dawood Islamic Bank.

After careful deliberation, standardized agreements -namely Interbank Musharaka and Interbank Wakala Agreements - were finalized and it was agreed thathenceforth only these standard contracts would beused by the Islamic Banking Industry.

This achievement is an important milestone towardsdevelopment of Inter-bank Market for Islamic Banksand would pave the way for the long awaited Islamicbenchmark rate as an alternative to KIBOR.

MeezHosts ment Products

Meezan Bank takes part inWHEAT PROCUREMENT FINANCINGFOR GOVERNMENT OF PUNJAB

MEEZ

ANBANK06


7/20

2008Meezan Bank'sAnnual ReportRATEDAMONGST TOP 5 ANNUAL REPORTS

OF THE FINANCIAL SECTOR

The 14th Shariah Supervisory Board meeting of MeezanBank Limited took place at the Darul Uloom Korangi,Karachi.

The Meeting was chaired by Justice (Retd.) Muhammad Taqi Usmani and the other members of the ShariahBoard including Mr. Sheikh Essam M. Ishaq (Bahrain)and Dr. Muhammad Imran Usmani. The SeniorManagement of Meezan Bank including Chief OperatingOfficer, Mr. Ariful Islam and President & CEO, Mr.Irfan Siddiqui and other team members were alsopresent.

Several important matters were discussed in the Meetingincluding introduction of new Shariah-compliantproducts and services. The Shariah Board praised theperformance of the Bank and showed overall satisfactionon the Shariah-Conformity of the products, overallbusiness and transactions of the Bank.

Later, Mr. Sheikh Essam addressed the SeniorManagement of Meezan Bank and discussed with themvarious issues regarding Islamic Banking and Finance.

SHARIAH SUPERVISORY BOARD MEETING

14th

Meezan Bank and Takaful Pakistan have entered intoan agreement whereby all customers of Meezan Bank'sLabbaik (Hajj and Umrah) deposit product will beprovided Shariah-compliant credit Takaful coverage.

Mr. Irfan Siddiqui, President & CEO, Meezan BankLtd and Capt. Jamil Akhtar, CEO Takaful PakistanLtd. signed the agreement. Under the agreement, allLabbaik installment customers that have performedHajj or Umrah will be provided credit Takafulcoverage at very special rates.

In case of natural death, accidental death, permanenttotal disability or insolvency of a Labbaik customerhis/her outstanding installments will be paid byTakaful Pakistan.

Speaking on the occasion, Mr. Irfan Siddiqui said thatMeezan Bank has always focused on coming up withRiba-free products and innovative facilities for itscustomers and the arrangement with Takaful Pakistan

is another step in the direction of making IslamicBanking the banking of first choice.Capt. Jameel CEO Takaful Pakistan Ltd said that hewas delighted to sign the Takaful agreement with thecountry's leading Islamic bank, which will pave theway for numerous benefits for its customers.

MEEZAN BANK AND TAKAFUL PAKISTAN

SIGN AGREEMENT !

MEEZ

ANBANK 07

The Joint Committee of Institute of Chartered

Accountants of Pakistan (ICAP) and Institute of Cost &

Management Accountants of Pakistan (ICMAP) has

awarded Meezan Bank's Annual Report 2008 the prize of

being the fourth best corporate report in the Banking

Sector at a Ceremony held at Karachi in June 2009.

The aim of the Best Corporate Report Award is to give

recognition to excellence in annual corporate reporting in

order to promote corporate accountability and

transparency through timely, informative, factual and

reader-friendly annual reports.

The Best Corporate Report Award is conferred to the best

five annual reports in selected sectors each year by a Joint

Committee of ICAP & ICMAP.


8/20

MEEZ

ANBANK08

Meezan Bank has restructured the internal andexternal processes, documentation and procedures ofthe installment sale business of United Sales (Pvt.)Ltd. (USL) to make them Shariah compliant. In aceremony held at a local hotel today, Meezan BankLtd issued Shariah Compliance Certificate to USLand from this point onwards, USL will have itsinstallment sale operations under 'Diyanat Financing'which involves sale of USL's merchandise on deferredpayment (Bai Muajjal) to be fully compliant withIslamic Shariah principles.

Under the arrangement, Meezan Bank will providecontinuous guidelines to USL for complying with theprinciples of Shariah and will also conduct an annualShariah Compliance Review of the processes

implemented by USL to ensure that the installmentsales activities of USL are conducted in accordancewith the principles of Islamic Shariah.

Speaking on the occasion, Mr. Irfan Siddiqui, saidthat this agreement shows that businesses in Pakistanare cognizant of the fast changing trends in theIndustry. They are revamping their business structuresaccording to Shariah principles to provide theircustomers with best services in a Shariah-compliant

manner. He said that this also reflects the immensegrowth potential in the Islamic way of doing businessand the very positive trend of knowledge sharing byexperienced players with the new entrants. MeezanBank's Islamic Finance knowledge and expertise would enable USL to earn good Halal returns. Heinformed that Meezan Bank is Shariah Advisor toalmost all the Islamic Mutual Funds working in thecountry and that this is the first time a businessoutside the core banking sector has requested MeezanBank to restructure their business according toShariah principles.

Alhamdolillah, Islamic Banking and Finance Coursehas once again been introduced in Institute ofBusiness Administration (IBA) and the first Coursewas completed in May 2009 (Spring Semester, fromJanuary 2009) after a gap of almost three years.

The Course was conducted by Mr. Ahmed AliSiddiqui EVP - PDSC Meezan Bank Limited, and he was assisted by Mr. Fayyaz ur Rehman Khan - AVPPDSC and Mr. Farhanul Haq Usmani - AVP PDSC.

It is worth mentioning here that although the rest of

the courses had already been offered weeks back andIslamic Banking Course was offered late i.e. only onthe last day of registration for students of IBA to takeup the Course, yet 21 students registered for theCourse on this short notice. This shows theenthusiasm and keenness of the students in IslamicBanking Course and in knowing Islamic BankingIndustry as a whole.

The Course was attended keenly and the level ofenthusiasm was such that not a singleparticipant/student (of total 21 students) dropped outof the Course and the students put great efforts in

the whole Course especially in research report writingand assignments.

The offering of the Course was due to thecooperation extended by Dr. Qazi Masood of IBAand Dr. Ishrat Hussain, the Director of IBA. FromMBL, Mr. Ahmed Ali Siddqui and Fayyaz ur RehmanKhan along with Mr. Sohail Khan - Head ofMarketing and Training were instrumental in reintroduction of Islamic Banking Course in IBA.

From now onwards, Inshaallah this will be a regular

feature at IBA, The next course will be offered in FallSemester 2009. Efforts are under way to introducemore courses at IBA on Islamic Banking & Finance.

It is also worth mentioning that currently IslamicBanking Courses are being offered in CBM, PAFKIET, IBA Sukkur and other leading universities ofthe Country. Efforts are underway to introduce fullfledged MBA in Islamic Banking & Finance in theleading universities of Pakistan. May Allah help andguide us in this endeavor.

&Meezan Bank Re-introduces Course of

Islamic Banking

By: Fayyaz Ur Rehman KhanAssistant Vice President,

Product Development & Shariah Compliance

MEEZAN BANK ISSUES

TO UNITED SALES (PVT). LTD.SHARIAH COMPLIANCE CERTIFICATE

Finance at


9/20

NEW BOOKLETS

MEEZ

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An extremely important contribution of PDSC is theintroduction of various booklets on specific topicsreating to Islamic Shariah.

So far, two booklets have been published namely:1. Islami Bankari Kaa Aik Taaruf2. Guide to Zakah Understanding and Calculation

The third booklet is in the final stages of completionand will be about "How to perform Umrah". Work onfourth booklet has also been initiated and it will beout before Shawwal this year Inshallah.

The purpose of these booklets is to create awarenessabout various aspects of Islam in a very clear, concise

and interesting manner, in order to enable the fellowMuslim brethren to follow Islam in the mostrighteous and true manner.

The booklets have been very successful and verymuch in demand. The popularity of these booklets

can be gauged from the facts that so far around35,000 copies of the booklets have been distributedthroughout Pakistan from MBL Branches and HeadOffice and they are still very much in demand.

These booklets have been the special efforts of Dr.Imran Usmani, Mufti Bilal Qazi and were assisted byFayyaz ur Rehman Khan. The Zakah booklets havealso been made available in PDF format on thecorporate website and the Islami Bankari booklet willalso be available in July 2009.

It is now the duty of every member of MBL to be fullyaware about the contents of each of these booklets inorder to have a better understanding about Islamic

banking and other aspects of Islam. May Allah acceptthis humble effort of ours and help in strengtheningthe bond between Muslims and between Islam and itsfollowers.

Meezan Bank arranged a seminar at the "PakistanCentral Homeopathic Medical College Auditorium"in Karachi on the 26th of June 2009, for the creationof awareness and promotion of Islamic Banking.

The Seminar, organized on request of the arearesidents was attended by approximately 500including salaried persons, businessmen and invitedmembers of the Hamdard Laboratories WaqfPakistan.

Addressing the attendees Mr. Mateen Mahmood, Area Manager, Mr. Ahmed Ali Siddiqui, Head ofProduct Development and Shariah Compliance, Mr.Mohammad Raza, Head of Consumer Banking andMr. Shoaib Quershi, General Manager CommercialBanking, discussed Islamic banking and responded tothe queries of the participants about Islamic Banking.

Based on the encouraging feedback from attendees,similar seminars will Insha'Allah be held at locationsthroughout Pakistan.

AWARENESS OF ISLAMIC BANKINGheldSeminar on

By: Mateen MahmoodArea Manager, Karachi

By: Fayyaz Ur Rehman KhanAssistant Vice President,


INTRODUCED ON TOPICS OF ISLAMIC SHARIAH


10/20

JCR-VIS Credit Rating Co. Ltd. (JCR-VIS) hasmaintained entity ratings of Meezan Bank Limited(MBL) at 'A+/A-1' (Single A Plus /A-One).

The medium long-term outlook has been upgradedfrom 'Stable' to 'Positive' in view of favorable trendswitnessed in the Bank's performance. As pioneers ofIslamic Banking, Meezan Bank has capitalized on thefirst-mover advantage and built a strong franchiseamongst the masses, evident in the highest marketshare in terms of deposits in the Islamic BankingSector. The expansion in branch network to 166

branches has been instrumental in facilitating thegrowth in retail deposits.

Low-cost deposit mix enhanced core earnings inFY08. Non-performing advances of the Bank are verylow and the quality of consumer lending has so farfared better than most market players.

Continuing to focus on key elements of risk anddrawing on experience, the management expects toachieve growth in line with projected targets.

Meezan Bank's

CREDIT OUTLOOKUPGRADED

Alhamdolillah the team of Meezan Bank has once againproved that they are able to cross any bar which is set forthem. Starting this year with Rs. 70 bn deposit, we hadset a target to close the half year at Rs. 81.2 bn and by thegrace of Allah Subhan'o'Tallah we have surpassed ourtarget and closed at Rs. 81.6 bn.

Indeed a moment of great rejoice while looking at thecurrent Deposit figure of over rupees 80 billion. I, stillremember when we closed the year 2003 with a depositof Rs. 7.7 bn and the year 2004 at Rs. 13.7 bn, and today we are looking forward to close the year with themilestone number of 100 Billion. By achieving thisdeposit milestone, Meezan Bank will stand amongst thetop 10 banks of the country. All thanks to Allah Subhan-o-Tallah for His Blessings and special regards to the entireMeezan Team for their dedication and hard work.

Giving credit to entire Branch Banking Team of MeezanBank. congratulations to all the Regional Managers, AreaManagers, Branch Managers, Branch Controllers,Resident Managers, Operation Managers, Area SalesManagers, Team Leaders, Personal Bankers & BusinessDevelopment Team. I believe these achievements areimpossible without team work.

We should continue this momentum by putting all ourefforts with dedication and close our Fiscal Year with aflying numbers by leaving no stone unturned and eagerlyeye on 100 Billion magic number by this year end. I amconfident that we will, Insha'Allah, continue thismomentum during the months to come.

I would like to thank every one who has contributed indeposits and am confident that this spirit will continue inmonths to come.

Meezan Bank crosses81.61.681.6BILLION RUPEES IN DEPOSIT

By: Mohammad Raza

Khayaban-e-Seher Branch of Meezan Bank Limitedbecame the first Branch to commence Live operationson Temenos T24 Core Banking Application onMonday May 4th, 2009. The Bank plans to migrate allof its Branches with full Islamic functionality onto T24. Mr. Irfan Siddiqui, stated at the occasion thatthe Bank is committed to investing in technology toensure a robust and secure banking platform in linethe vision of the Bank. The new system will allowsmooth running of operations and to support theenvisioned growth of the bank. Mr. Ariful Islam,elaborated that migrating to T24 would also provideus an excellent opportunity to improve, streamlineand re-engineer our existing processes by adopting the

Best Banking Practices embedded in the system.

National Data Consultant (NDC), the local partnersor Temenos, are facilitating the implementation of T24 at Meezan Bank. Mr. Navaid Kareem, VicePresident Sales & International Business for NDCsaid that it was an auspicious event and an honor forNDC to successfully implement T24 at Meezan Bank.

Meezan Bank Goes

ON TEMENOS T24Live

CORE BANKING APPLICATION

MEEZANBANK10

Manager National SalesHead of Consumer BankingKamran Zaffar&


11/20

MEEZANBANK 11

Meezan Bank has successfully completed VISACertification making it the first Bank in Pakistan tobe certified with VISA International for Debit cardservices with Avanza Solutions as a technologypartner.

With a robust and technologically advancedinfrastructure backed by state-of-the-art electronicbanking channels, Meezan Bank is second to nonewhen it comes to providing convenience via reliableand efficient electronic banking channels includingATM Debit Card, Internet Banking, SMS Alerts, CallCenter and IVR etc.

With an ever growing nationwide ATM network ofover 140 strategically located ATMs and a vast

customer base of over 150,000 ATM/Debit card

holders, the Bank took the initiative to expand itshorizons and provide its customers with the globalacceptability and power of VISA.

The Launch of Meezan Bank VISA Debit programwas considered a challenge since systems provided by Avanza Solutions such as NIMBUS (as an ATMSwitch) and Rendezvous (as a middleware to connectto 1Link) needed to be VISA certified subsequentlyadding to the scope of the project.

With the dedicated efforts of Avanza Solutions andoverwhelming support from 1Link, VISA (bothPakistan and Asia Pacific), Meezan Bank and AvanzaSolutions overcame this challenge and became VISAcertified Bank and Technology provider respectively.

By: Mohammad Amjad KhanProject Manager, Alternate Distribution Channels

Meezan BankSUCCESSFULLY COMPLETES

CERTIFICATION

ON

Mr. Shahid Abdullah, Architect and InteriorDesigner with Irfan Siddiqui & Ariful Islam

Ground Breaking - 10th February 2009Structure Completion Date - 30th September 2009Covered Area - 201,000 Sq FtFloors: Ground + 5 along with basement

Expected Completion Date - within 18 months of startof construction

UPDATE

Facts:

HEAD OFFICE BUILDING

February, 2009 March, 2009 April, 2009

May, 2009 June, 2009 July, 2009


12/20

MEEZANBANK12

The idea when brought into implementation earlierthis year was a rare practice in the Banking Industry

adjudged as fine marketing. The 1st round of thisactivity brought mixed results and lot of learningpoints, but proved worthwhile to promote the MeezanBank brand name and the organization's dedicationto its loyal customers.

On June 25, 2009 in the mid of sultry summerseason, the motivated team of Serena Hotel Branchhosted its "Customers Appreciation Day".

With the aesthetic theme of red, the branch wasdecorated with red carpets, lights, balloons andbranch network buntings. Flower baskets and fragrantenvironment further enriched the beauty of the whole

faade. Visiting clients were served with refreshmentsand their feedback was taken regarding the bank and

its services. With the recent launch of MeezanLabbaik, a stall was set up to promote the uniquefinancing services for Hajj and Umrah as well. Theday was inaugurated by a valued customer.

Event Management Team comprising of Mr. MoazzamSaeed, Mr. Ashfaq, Mr. Husnain, Mr. Farooq Faisal &other aspiring members of Marketing Departmentalong with Mr. Khalid, Mr. Saqib Khan and Mr.Muhammad Iqbal worked with utmost dedication.

Initiatives such as the Customer Appreciation Day,continues to breed a culture that is the hallmark of aprogressive organization.

Customer Appreciation Days ContinueThroughout the Branch Network

By: Muhammad Athar IqbalSerena Hotel, Branch, Faisalabad

Meezan Bank took part in the 'My Karachi' Exhibitionheld at Expo Center, Karachi between 5th and 7thJune 2009. The stall was a center of activity during theevent with representatives of Meezan Bank educatingthe masses about the Bank and about IslamicBanking. The 3-day event was attended by well over15000 people from walks of life in Karachi and gave

us a good opportunity to target customers who usuallydo not walk-in to our Branches. The level of interestin Islamic Banking was immense among customers;this also helped in clearing doubts in the minds ofcustomers about Islamic Banking, especially due toone-to-one interaction with customers.

Meezan BankTAKES PART IN 'MY KARACHI' EXHIBITION HELD AT EXPO CENTER

By: Mohammad Adil Sami

Manager, Marketing

Water Pump Branch, Karachi


13/20

Meezan Bank has announced that all its customers ofSwat and Mingora who have been displaced by theongoing conflict in the region can easily access theiraccounts from any of 166 branches of Meezan Bank in40 cities across Pakistan for deposit and withdrawal ofcash. According to Meezan Bank's Officials, the Bank hasmade special arrangements whereby customers ofMeezan Bank's Mingora Branch can present theircheque in any Meezan Bank Branch across Pakistanand the Bank would ensure that they get their cash

promptly and without any hindrance or delay. Thecustomers can also access their accounts throughInternet Banking and have access to Meezan Bank's ATM Network for withdrawal of cash form theiraccounts from any location in Pakistan.Providing this facility to its customers that have beendisplaced from their homes and business areas is aproactive step by Meezan Bank for providing reliefand convenience to its customers and marks anotherstep in moving towards its mission of establishingIslamic Banking as banking of first choice.

CUSTOMERS IN SWATMeezan Bank Takes Action to Facilitate its

MEEZANBANK 13

The "Inter Branch Service Competition" (IBSC) wasinitiated with the intention to perfect the qualitystandards of the services provided at branches and tocreate a 'System-Centric Culture'. In our efforts of the

past two years, the current format of the competitionhas matured and making it both competitive andchallenging.

In the past, the Service Quality's Department'spractice has been to monitor the branch's monthlyperformance giving a comparative result at the end ofthe month. The best performers earned the title of"Service Champion of the Month". Striving towardsexcellence in services, we have recently introduced a Trophy to be awarded to the branch along with acertificate of excellence in services. At the end of theyear the best performing branch will earn the title of'Service Champion of the Year'.

In our efforts we have tried to portray acomprehensive picture to branches via reports, givinga detailed impression of the quality of the variousservices provided by each branch. The purposebehind this detailed report is to identify individualbranches weak areas and to chalk down a strategy forimprovement.

In the past, our practice with regards to the InterBank Service Competition has been to rate thebranches performance as per the marks acquired inthe ISMs with the highest scorer is given the title.

However the intention is not simply to monitorperformance but rather to create a healthycompetition to motivate branches to perform at theirpeak. We now focus our attention to not onlyhighlighting the areas of needy of improvement butalso providing and discussion correctional methods ofimproving the quality of service.

Having focused on identifying the number ofcustomers affected due to service issues at any branch,we are working with a mindset of 'Customer Care' sothat the Branch Managers and their team do theirbest to provide excellence in services to every bankcustomer irrespective of the branch and point ofcontact.

Aligned with vision of the organization with regardsto Service Quality, we at Meezan Bank are striving atattaining our goal of being recognized as 'The BestService Providing Bank - 2011'.

Inter Branch Service Competition

MONTH SOUTH CENTRAL NORTH

April Qasimabad Branch, Hyderabad Cavalary Ground Branch, Lahore Mansehra Branch, MansehraMay P.E.C.H.S Branch, Karachi Shalimar Garden Branch, Lahore Peshawar Road Branch, Rawalpindi

SERVICE CHAMPIONS

Boosts Service Level at Branches Nationwide

By: Mohammad Asadullah ChaudryManager, Service Quality

Mansehra Branch Qasimabad Branch, Hyderabad


14/20

By: Khalid MaqsoodManager, Training

By the grace of Almighty Allah, the TrainingDepartment is expanding by leaps and bounds andInsh'Allah we are committed to being recognized forour trained staff at Meezan Bank.

Currently the Training Center in Karachi has acapacity of 40 personnel, Lahore center has a capacityof 35, Islamabad a capacity of 30 and Multan has acapacity of 25 personnel, with Insha'Allah Faisalabadhaving a similar setup in a short span of time.Equipped with multimedia projectors, sound systems,screens, presentation remotes, etc, these fullyequipped training centers are a sign of the seriousnessand commitment of the management when it comesto Training our staff.

The challenge for the Training Department was toensure that the Bank gets the best ROI on thesefacilities. With our comprehensive training calendarin place for all regions, as of July 1st, 2009, all centerswill Insha'Allah be occupied a minimum of 20 days ina month. The various training sessions for all our staffmake our investment cost-effective and is an efficientuse of our resources.

Giving credit where credit is due, this initiative wouldnot have been possible without the cooperation,support and guidance of the Regional Managers, theArea Managers and our Internal Trainers.

Meezan Bank's Training Centres(JUST TO BRING EVERYONE ONBOARD ON THE TRAINING FRONT)

MEEZANBANK14

MAP MAKERMeezan Bank has successfully charted itsbranch network of 166 branches in 40 citieson Google Mapmaker.

Each branch located on this virtual map

holds its complete branch and contact details.By utilizing this technology to assistcustomers locate their nearest branch fromtheir home, office or on the go via GPRS ontheir mobile, the Meezan bank branchnetwork is now available at customer'sfingertips.

By incorporating the mapmaker technologyon Meezan Bank's Corporate website(www.meezanbank.com), visitors will soon beable to find the best route to a branch byspecifying their location and the branch they wish to visit. The service helps locating abranch at customer convenience, assisting inthe use of Online-branch-banking anywhere

in Pakistan.

"Pakistan actually ended up posting morethan any of the 160 countries simultaneouslyin the map making experiment initiated lastyear in June" CIO Pakistan - June 6, 2009.

To locate any of Meezan bank's 166 branches type "Meezan Bank" in Google Mapmaker(www.google.com/mapmaker).

MEEZAN BANK'S 166 BRANCHNETWORK AVAILABLE ON

By: Hafidh JamaluddinAssistant Project Manager, Marketing

The Training Department is very fortunate to haveour own Internal Trainers within Meezan Bank acrossthe Country. Our trainers are doing a tremendous jobin imparting the training that our staff needs.However, with exception of a selected few, almost allthe internal trainers are "Technical Trainers" dealing with Shariah, Islamic Banking and relateddepartmental or operational areas. Soft Skills on theother hand, have not been seriously explored.

Taking into notice that Soft Skill training is a veryimportant area for professional grooming and culturalbuilding of the bank, the Training Department hastaken up the initiatives to line up External Trainers ofSoft Skills for sessions at Meezan Bank. Having ourinternal trainers as the audience, to judge theeffectiveness, charisma, and adaptability of thesetrainers, select traininers will be negotiated with todeliver soft skill courses across the regions.

TRAIN THE TRAINER

By: Khalid Maqsood

Manager, Training


15/20

MEEZANBANK 15

Train the Trainer AML / KYC Refresher Car Ijarah / Housing Refresher Prevention of Fraud & Forgery General Banking Refresher (2 Day course) Service Huddle & Soft Skill for SQCs Personal Banking Officer Refresher Business Development Officer Refresher

Trainee Batch Refresher

Meezan Bank Orientation (3 Days) Islamic Banking Refresher Soft Skills for Branch Receptionist / Operators ATM Branch Operations Alternate Distribution Channels - Branch Perspective Trade Finance - Basics MBL Liability products Branch Audit Issues

conducted in 2009List of Training Courses

Nationwide Training The Alternate Distribution Channels (ADC) hasconsistently introduced new services and alsomodified existing services over that past three years.

Services such as SMS Alerts Service, Internet Bankingimproved registration process, phone banking and ATM services, etc require adequate Training to begiven to the fast growing number of front-end-staffmembers of our expanding branch network.

Earlier in the year a nationwide training was initiatedfrom Karachi (along with out-station branches ofSouthern Region) with subsequent training sessionsscheduled in Lahore, Multan and Islamabad.

The comprehensive training covered all theoreticaland practical aspects of ADC, product manuals forproducts and services, standard operating procedure(SOP), the role of ADC in the banking industry, thekey features and USP. Further the sessions helpedidentify and discuss the customer feedback andproblems faced by the back-end-office. The trainingsessions would additionally promote the services and

be mutually beneficial as those in the back officewould get valuable feedback from the staff members with direct customer contact. The session was

followed by a quiz to assess the overall effectiveness ofthe session.

The ADC Training Session proved to be a worthwhileexperience, as the branch response and service qualityhas improved considerably at the branch end.Furthermore, the execution of correct escalationmethodologies and frequent coordination andcommunication between the branches and ADC hasreduced complaint processing time.

The best outcome from the sessions was the creationof competition between the regional Meezan Bankteams to ensure their region's supremacy in terms of ADC expansion and usage. Internet Banking andSMS Alert Service signups currently stand at an alltime high and are improving their records everymonth. Furthermore the ATM and Debit cardtransactions have also increased considerably.

Top scorers of the quiz among all three regionsName Branch City Marks Total Grade

M. Nawman Aamir

Muhammad Atif

Waleed Asghar

Gujar Khan Branch Gujar Khan 50 50

AChandni Chowk Branch Rawalpindi 50

50

50 A

A

Muslim Town Branch Rawalpindi 50 A

By: Mohammad Amjad KhanProject Manager, Alternate Distribution Channels

ON ALTERNATE DISTRIBUTION SERVICES

Multiple Training sessions of the following courses were conducted across the Country.


16/20

MEEZANBANK16

Interview

Omer Salimullah discusses the importance of Alternate

Distribution Channels and its continual role in making

Meezan Bank a 'Technologically Advanced Bank'

Mr. Omer Salimullah, Manager Alternate Distribution Channels

What role does Alternate Distribution Channel playin consumer banking?

We live in a fast pace world where emergingtechnologies have transformed the way we live.Longer tasks can now be done within millisecondsefficiently without any hassle.

It is essential for Banks to keep themselves updated tomeet the customer demands.

Alternate Distribution Channels, (ADC) play both asupport role as well as acts as an independent revenuegenerating entity in consumer banking. Theimplementation is up to the Bank's priority of how itwants to place this function in its setup. We have avery vibrant ADC setup with a suite of 24/7 products.

Aren't all the services provided by AlternateDistribution Channels already available at theBranch?

The basic aim of Alternate Distribution Channels isto offer convenient avenues to customer byestablishing cheaper channels of branch bankingservices where customers do not have to go to thebranch and wait in long queues, regardless of howminute the task may be. Branches can divert theircustomers to these less costly channels and reducebranch load in order to provide exceptional customerservices to highly profitable customers.

Are customers comfortable using ADC services overservices provided within the branch?

I'll let the statistics do the talking. The recentelectronic banking report by State Bank of Pakistan

Omer Salimullah is a BBA in BusinessInformation Systems (BBIS) from theRoyal Melbourne Institute of

Technology, Australia.

Omer was part of ABN AMRO BankPakistan for 4 years where he worked in

various capacities.He is currently managing the AlternateDistribution Channels of MeezanBank.


17/20

MEEZANBANK 17

shows that the ADC usage graph has been incliningconsiderably over the past few years. The story atMeezan Bank is no different than the rest, almostevery month, our management report, pertaining todifferent products and services, breaks all timerecords.

What products and services does Meezan Bankcurrently provide under Alternate DistributionChannels?

Currently, we have a nationwide ATM network of 144 ATMs to cater to the needs of more than 150,000Meezan Bank cardholders and also generate revenue via card acquiring business. We provide SMS alertservice to our account holders, which received anoverwhelming response soon after it launch. We alsohave a 24/7 functional Call Center with a team of 11officers, working in three shifts in order to provideround the clock assistance. Phone banking servicesare also offered via Interactive Voice Recording (IVR)facility. We also offer free Internet banking, an ideal

choice for our Non Residents Pakistanis and techno-friendly customers to stay in touch with their multipleaccounts, wherever they are.

We have 24/7 ATM Debit Card, which is accepted forcash at all 1Link and MNET ATMs and at nationwidenetwork of ORIX Point of Sale (POS) terminals forcash-free shopping.

We have recently completed Meezan VISA Debit cardproject. VISA cards will skyrocket the acceptability ofMeezan card from currently just 4,000 ORIX POSterminals to 30 million VISA outlets, all over theworld. Furthermore, along with all 1Link and MNETATMs, the Card could also be used internationally at

1.4 million ATMs with VISA Plus logo. Presently, thecard is in staff testing phase and would be launchedimmediately after the proceedings are concluded.

What role does the Call Center play in ADC?

The Call Center is perhaps the oldest and an integralpart of ADC in Meezan Bank. It caters to the need ofboth existing and potential customers while alsoextend its consultancy for our nationwide branches.Our 24/7 Call Center provides branch bankingservices and generate leads for prospective customers.

Call Center also serves as an avenue forcomprehensive Islamic Banking information thatremoves any ambiguity the customer might have.

What is the reason behind aggressive expansion ofthe ATM network?

There were three major reasons behind the recentexpansion of the ATM network, our nationwidebranch network was growing rapidly and that meantan increase of similar magnitude in the cardholderbase. Secondly, we wanted to maintain our image as atechnologically advance bank. The major reason wasthe feasibility of ATM acquiring business; almostevery major bank in Pakistan offer ATM card to theircustomer, being a member of 1Link switch, banks can

earn revenue via inter-switch transaction charges.Recent statistics have shown that 97% percent ofoverall ATM transactions are cash withdrawals, thenthere is always the marketing and promotion the bankgets via off-site ATMs, especially if they are located atpublic places for example shopping mall, hospitalsand government building. Alhamdulillah! We have 9

off-site ATMs in Karachi, Lahore and Islamabad.

Along with ATMs, CDM (cash/cheque depositmachines), KIOSK etc. are also available and are beingused by some prominent banks but mainly in testingphase. We are looking into these areas and are working on the feasibility of such initiatives.InshAllah, you would see them very soon.

People worry that Internet based financialtransactions are not secure. Why should customerslook towards Internet banking for their bankingsolutions?

I can say it without any hesitation that Internet

banking is far more secure than as reflected. I wouldlike to emphasize on some of the key points ofMeezan Internet Banking:

1. Meezan Internet banking has acquired SSLCertificate from globally renowned company VeriSignto protect transactions and accounts fromunauthorized access.2. All information transferred between the customer'scomputer and Meezan Internet banking system isencrypted using 128-bit encryption technology.3. Both Username and Password are encrypted & asecure firewall has been placed.

How will customers benefit with VISA cards overthe currently available Debit Card?

Meezan VISA Debit card has opened new horizonsfor Meezan Bank customer. Presently, our card can beused to withdraw cash from 1Link and MNET'sapproximately 1500 ATMs in Pakistan. With VISA,our customers would access 1.4 million VISA PlusATMs globally.

As a Debit Card, the Card works on roughly 3,000ORIX POS terminals in Pakistan. As a VISA DebitCard, Meezan Bank customers can shop at 40 millionoutlets worldwide displaying VISA logo.

Also there are the withdrawal limits; there are twotypes of Meezan VISA Debit Cards, the Silver Cardand the Gold Card. With the Gold card, ourcustomers can withdraw PKR 40,000 cash per day and

can shop worth PKR 100,000 daily which is twice thelimit of our current ATM/Debit card.

What new services are in the pipeline?

The list is never ending but some of the majorprojects are UBPS (Utility Bills Payment) and IBFT(Inter-Bank Funds Transfer) on all channels,implementing internet Kiosks in branches, 3rd PartyFunds Transfer, On-line Shopping and "Pay to Anyone" via Internet Banking, Meezan MobileBanking and Prepaid VISA Cards etc.


18/20

MEEZANBANK18

Meezan Bank's cricket team has consistently outplayedits competition to reach the Semi-finals of the Danyalcup 2008-2009. With comfortable wins over BankIslami-BIPL and Royal Bank of Scotland, the teamqualified for the Semi-Finals.

Meezan Bank holds a strong batting lineup with Mr.Shakeel Zia, Mr. Ammar Farooqui & Mr. Rafi Ahmedconsistently playing some exceptional cricket withindividual innings and partnerships throughout thetournament.

The bowling department has been accurate andeffective, the pick of bowlers Zaheer Abbass and AyubBaig have picked up 10 wickets and 9 wicketsrespectively in the tournament. Assisted by theaccurate bowling of Ismail Ahmed, Rafi Ahmed &Syed Shojat Hussein, With high team morale andsupport of fellow employees, Meezan Bank isscheduled to play the semi-final against Dubai IslamicBank.

SEMI-FINAL IN DANYAL CUP 2008-2009Meezan Bank Qualifies for

By: Mirza Ayub BaigAssistant Vice President,

Capital Market - Operations

Meezan Bank's Deposit Mobilization Campaign, ajoint initiative of Consumer Banking and ProductDevelopment & Shariah Compliance Departmentsreceived an enthusiastic and overwhelming responseby the Bank Employees. The Campaign specifically for 'Non-Sales RelatedEmployees' generated more than Rs. 1.4 billion in six

months, spread between approximately 2800 newaccounts and increased deposits in existing accounts.

A special congratulatory note to Mr.Shahid Hassanour Tea boy who showed tremendous performance inthis Campaign.

Meezan Bank Deposit Mobilization Campaign

Mr. Chahudhry Tahir Iqbal

Mr. Saleem Khowaja Head Office

Ravi Road Branch, Lahore

Mr. Saif Ur Rehman Gujranwala Branch

BranchName Award

Two Economy Class Return Tickets to AnyDestination in Pakistan

Plasma TV with Gift Pack.

One Economy Class Return Ticket to Dubai.

Diamond Winner -Two Complete 15 Days Umrah Packages









Mr. Javed Ahmed

Mr. Rana Muhammad Irfan

Mr. Maaz Asad Khan

Mr. Usman Hameed Mela

Mr. Nasim Gul Afridi

Mr. Naseer Ahmed

Mr. Muhammad Afaq Basharat

Mr. Muhammad Rafi Mateen

Mr. Muhammad Bilal Naeem

Mr. Hafiz Ibrahim

Mr. Fazal Rahim Khan

Jodia Bazar Branch, Karachi

Azam Cloth Market, Lahore

I.I Chundrigar Road Branch, Karachi

Sargodha Branch

New Challi Branch, Karachi

Sargodha Branch

Circular Road Branch, Faisalabad

SITE Branch, Karachi

Sargodha Branch

DHA Branch, Lahore

Dera Ismail Khan Branch

Silver Winner - Cash Rs.35, 000.

Silver Winner - Cash Rs.35, 000.

By: Owais Ahmed SiddiquiSenior Officer,


Special thanks to Mr. Kamal Hussain of the I.T. Department, Head Office, for his contribution in the Campaign Data Management.


19/20

Challenges of

Islamic Banking Industry is still in its childhood stageand there is a long way to go. Various Institutions

world over are looking for Islamic alternatives toconventional modes of financing. Due to limitednumber of Shariah Scholars and the high growth inthe industry, the need for learned Scholars withexposure in Banking/ Finance is on the rise. Thisneed is recognized by Islamic Banking / FinancialInstitutions and the Scholars alike which has lead tothe rise in the number of training programs andcourses in this field.

The objective of Islamic Financing is equitabledistribution of wealth by asset backed financing tofulfill Customer needs without violating theprincipals of Shariah. To achieve this purpose, Islamicbanking transactions should primarily be based onMusharakah / Mudarabah (Profit & Loss sharingbasis) so that the capital flows from the rich to thepoor. The ratio of equity-based transactions to tradebased transactions should be increased to achieve thereal benefits of Islamic banking. In cases where Profit& loss sharing contracts are not possible or feasible,Exchange contracts such as Murabaha, Ijarah,Diminishing Musharakah, Salam & Istisna etc. maybe used. These asset backed transaction also cause todecrease the level of inflation from the economy,provided they are completely genuine and Shariahcompliant transactions.

In order to meet above-mentioned objectives,following steps will be helpful in moving in the rightdirection:

Strict compliance of Shariah Supervisory Boards/ Shariah Advisor Guidelines & AAOIFI Shariah

Standards. Paying higher return to depositors and charginglower financing charges as compared toconventional banks in order to boost publicconfidence.

Depositors' money should not be allocated tohigh risk - low profit asset classes in order to raiseprofitability of shareholders.

Focused efforts are required to facilitate low-income group by providing Islamic alternatives inthe area of House finance, SME finance, Microfinance, Education finance, Medical finance etc.

Takaful (Islamic alternative to Insurance)products should be developed and promoted forthe benefit of Muslim population.

Fit & Proper criteria' for the eligibility to becomea Shariah Advisor/Shariah Supervisory Boardmember must be laid down in all jurisdictions.

Adequate resources must be allocated to facilitateResearch & Development and education ofmasses.

A Shari'a Quality Rating (SQR) system may beintroduced to facilitate achievement of objectivesand increase credibility, transparency, complianceand management quality of Islamic BankingIndustry.

ISLAMIC BANKS AND THE FUTURE OF ISLAMIC BANKING

By: Dr. Muhammad Imran UsmaniShariah Advisor

I joined Meezan Bank in 2004, when thisorganization had just taken off with an aim to be the'Largest and Premier Islamic Bank of Pakistan'.

Aiming to revolutionize the Financial Industry ofPakistan, resistance was expected. Sharing my viewson Islamic Banking, the Bank's mission and itsoperations during family gathering and meetings, Irecall the strong resistance, skeptical views andnegative comments about both the organization andthe proposed banking methods. Despite myclarification about Shariah principle's and guidelines,a comment was always put forward 'Profit' is justanother term for 'Riba',

Today this organization is viewed to haveaccomplished introducing Islamic Banking andFinance to Pakistan and in shedding light on theunquestioned excellence and justice of the Shariahrulings. Our Head Office, located on two floors of thePNSC Building (Karachi) staffed the required

departments of the Bank. Today, the very same floorsare inadequate to accommodate more than fourdepartments needing the organization to shift into adedicated Head Office building (currently underconstruction).

Looking back, from a point where I was encouraged'not to join the organization', today I receive the samepeoples curriculum vitae's for joining this Bank.

Al-mighty Allah (S.W.T) has showered thisorganization with His blessings, and today those who were against Islamic Banking and the organization,those who had doubts about the organization'sexistence beyond five years are applying to join the

Meezan Bank family through any possible channel.Meezan Bank is the success story as an employer ofBanking Industry of Pakistan, the establisher ofIslamic Banking in Pakistan and without doubt is stilla sign of prosperity and promise in our economy.

By: Syed Shakeel Zia,Federal.B. Area Branch, Karachi

MEEZANBANK 19

&

Meezan BankYESTERDAY TODAY


20/20

Family*Aamir ArshadAbdul Haseeb ShaikhAbdul MalikAbdul RaufAbdul Rehman Bin MasoodAbdul Rehman JamalAbizar HatimAdeel ButtAliza MuqimAnjum JavedAroooj HayatArsalan KhalidArshad Ali KhosoAsad Ali ArifAsif Altaf DastiAsif ShabbirBasma Ramzan

Bilal KhanBilal NisarChaudhry Muhammad UmarEjaz AkbarFaheem Ullah QureshiFakhar AbbasFarah MansoorFaraz MuhammadFarrukh SalimGhulam AwaisHaider AliHassan KhalidHassan RizwanHina KanwalHira Usman MalikIbrahim Muhammad Abdul AzizIrfan ShabbirJahangir AliJamil AhmedJan Muhammad Narejo

Kamran AhmedKamran ShaikhKhalid Naseer KhanKhawaja Javed AhmedKhawaja Mohsin AliLubna Ali SakraniMajid Hussain MemonMajid Mushtaq QureshiMehboob Hussain JunejoMehdi Abbas NandwaniMirza Hammad Shah BaigMirza Wahid AliMohsin Ibrahim AbbasiMubasher MukhtarMuhammad Abubakar ButtMuhammad Adeel AkramMuhammad Afzal ShaikhMuhammad AkmalMuhammad Ali

Muhammad Anjum FerozMuhammad Atif FarooquiMuhammad Azam MugheriMuhammad Bilal AhmadMuhammad Bilal Hussain JanjuaMuhammad Bilal KhanMuhammad Ehsan RehanMuhammad Farhan KhanMuhammad Farooq AzamMuhammad Farrukh Irfan KhanMuhammad Hashim KhanMuhammad ImranMuhammad Imran ZiaMuhammad JamilMuhammad Javed IqbalMuhammad Kashif IqbalMuhammad Kazim ParachaMuhammad Mubashar

Blue Area, IslamabadKorangi, KarachiHaripurDHA Phase III, LahoreGulberg, LahoreGulberg, LahorePNSC, KarachiAl-Azam Super Highway, KarachiGulshan-e-Iqbal, KarachiSialkotGulberg, LahoreAllama Iqbal PECHS, KarachiSukkurGulberg, LahoreCollege Road, LahoreF-7 Jinnah Super Market, IslamabadSerena Hotel, Faislabad

North Karachi, KarachiiCircular Road, LahorePCHS, LahoreBarkat-e-Hydri, KarachiKarkhano Market, PeshawarBohar Bazar, RawalpindiMain QuettaI.I. Chundrigar Road, KarachiShahrah-e-Faisal, KarachiF.B. Area, KarachiSatiana Road, FaisalabadI-9 Markaz, IslamabadF.B. Area, KarachiPNSC, KarachiSaddar, RawalpindiPNSC, KarachiBlue Area, IslamabadGulshan Chowrangi, KarachiPNSC, KarachiBin Qasim Landhi, Karachi

FTC, KarachiPNSC, KarachiPNSC, KarachiChowk Yadgar, PeshawarPNSC, KarachiPNSC, KarachiNawabshahCavalry Ground, LahoreTando AdamPNSC, KarachiAabpara, IslamabadPNSC, KarachiBlue Area, IslamabadG.T. Road, PeshawarDHA Phase III, LahoreSerena Hotel, FaislabadSaddar, HyderabadKotwali Road, FaisalabadF.B. Area, Karachi

MansehraAl-Azam Super Highway, KarachiGulshan-e-Iqbal, KarachiSerena Hotel, FaislabadSerena Hotel, FaislabadBlue Area, IslamabadCircular Road, LahoreShahalam Market, LahoreFTC, KarachiShamsi Society, KarachiF-11 Markaz, IslamabadS.I.T.E., KarachiF-10 Markaz, IslamabadSaddar Road, PeshawarF-11 Markaz, IslamabadPNSC, KarachiPNSC, KarachiCavalry Ground, Lahore

Muhammad Nouman AnwarMuhammad QasimMuhammad Rehan AzharMuhammad RiazMuhammad Salman AliMuhammad Salman FaizMuhammad Salman KhattakMuhammad Shahid RazaMuhammad Taha ShamimMuhammad Tanveer SaleemMuhammad UmairMuhammad Waseem BariMuhammad Zuhaib ShaikhMunir AhmedMustafa AlamgirNadeem Hussain NarejoNasir Mansoor

Noman Abdul QadirNoman LiaquatNoor HassanNoor ul AinNooruddin Sadruddin KassimOmer Farooq BhattiRab Nawaz RanaRabab Sarwar HashmiRabia RafiqueRaees Ahmad AnsariRaheel ArshadRaheel RashidRana Adnan ArifRehan RazaRizwan Karim QureshiRizwan KhurshidRubab AshrafSadaqat AliSagar Ali ShaikhSajid Saleem

Sameer Javed KhanSana ul HaqSanwal TheboSaud HassanShafiq ur Rahman MughalShah BakhtShah Wali UllahShahzad Ahmed RehanShiraz AhmadShiraz HassanShiraz Hussain SiddiquiShoaib MuhammadShoukat AliSohaib Ali BaigSyed Azeem HussainSyed Haider NaqviSyed Hassan Tariq AliSyed Jibran Hassan RizviSyed Muhammad Ali

Syed Muhammad YaqoubSyed Muhammad YasirSyed Muzaffar AlamSyed Saqib Ali ShahSyeda Nazia BashirTabish Haider ShaikhTanveer ZafarUmer HaseebUzair SiddiquiWaqar ShaikhWaseem Raza BaigZaffar Abbas BhayaniZaheer QadeerZahid Sultan BhattiZeeshan EjazZeeshan Javed SiddiquiZohaib Hasan Ansari

Ravi Road, LahoreDHA Phase II Ext., KarachiBahawalpurI-9 Markaz, IslamabadBlue Area, IslamabadDHA Phase III, LahoreChandani Chowk, RawalpindiNew Challi, KarachiNew Challi, KarachiJohar Town, LahorePNSC, KarachiKotwali Road, FaisalabadPNSC, KarachiNew Airport Road, LahorePNSC, KarachiBin Qasim Landhi, KarachiPNSC, Karachi

PNSC, KarachiS.I.T.E., KarachiPNSC, KarachiBilawal Chowk, KarachiGulshan-e-Iqbal, KarachiBlue Area, IslamabadSialkotSaddar, RawalpindiPNSC, KarachiBlue Area, IslamabadCircular Road, LahoreJodia Bazar KarachiCircular Road, LahoreSerena Hotel, FaislabadAbdali Road, MultanMuzaffarabad, Azad KashmirAbbottabadAbbottabadClifton, KarachiGulberg, Lahore

Cloth Market, KarachiPNSC, KarachiKhayaban-e-Shamsher, KarachiWater Pump, KarachiBohar Bazar, RawalpindiChowk Yadgar, PeshawarMardanCloth Market, KarachiPNSC, KarachiKorangi, Karachi Jodia Bazar KarachiKorangi, KarachiAzam Cloth, LahoreNew Challi, KarachiBahria Town, RawalpindiNorth Karachi Industrial Area, KarachiNorth Karachi, KarachiS.I.T.E., KarachiNew Garden Town, Lahore

PNSC, KarachiI-9 Markaz, IslamabadNorth Napier Road, KarachiPNSC, KarachiBarkat-e-Hydri, KarachiDHA Phase II Ext., KarachiCircular Road, LahoreCollege Road, LahoreF.B. Area, Karachi Jodia Bazar KarachiKorangi, KarachiPNSC, KarachiBlue Area, IslamabadGulberg, LahoreBohar Bazar, Rawalpindi Jodia Bazar KarachiSaddar, Rawalpindi

Employee Name Branch Employee Name Branch

*Recruitmentsforthelastthreemonths

WELCOME TO THE MEEZAN

CONGRATULATIONS

newsletter jun old

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