Meezan Bank Private Limited
TypePublic Limited
PSX: MEBL
IndustryIslamic banking
Founded27 January 1997 (1997-01-27)
HeadquartersKarachi-75700, Pakistan
Number of locations
1000 (2023)
Key people
ProductsLoans, debit cards, savings, consumer banking, business Banking, premium Banking
RevenueIncrease Rs. 141.933 billion (US$490 million)[1] (2022)
Increase Rs. 88.805 billion (US$310 million)[1] (2022)
Increase Rs. 45.141 billion (US$160 million)[1] (2022)
Total assetsIncrease Rs. 2.581 trillion (US$8.9 billion)[1] (2022)
Total equityIncrease Rs. 117.930 billion (US$410 million)[1] (2022)
Number of employees
15,380[1]
ParentNoor Financial Investment Company (35.25%)

Pak Kuwait Investment Company (30.00%)

Islamic Development Bank (9.32%)
SubsidiariesAl Meezan Investments
Websitewww.meezanbank.com

Meezan Bank (Urdu: میزان بینک) is Pakistan's first Islamic bank, which began its operations in 2002 after obtaining the inaugural Islamic commercial banking license from the State Bank of Pakistan. The bank is based in Karachi, Pakistan, with its headquarters located at Meezan House. It boasts an extensive network of over 1000 branches.

History

The bank started as an Islamic investment bank in 1997 and was then known as Al-Meezan Investment Bank.[2]

In 2002, Meezan Bank acquired Pakistan operations of Société Générale.[3]

In 2014, Meezan Bank signed an agreement with HSBC Bank Middle East to acquire HSBC's Pakistan operations consisting of 10 branches.[4][5]

In 2015, Meezan Bank acquired Pakistan operations of HSBC Oman consisting of a single branch.[6][7]

Shareholding structure

  • Noor Financial Investment Company (35.25 percent)
  • Pak Kuwait Investment Company (30.00 percent)
  • Islamic Development Bank (9.32 percent)[8]

References

  1. 1 2 3 4 5 6 "Meezan Bank Annual Report 2022" (PDF). meezanbank.com. Retrieved 22 November 2023.
  2. ↑ Tirmizi, Farooq (September 23, 2019). "Every Pakistani bank wants to dethrone Meezan Bank in Islamic banking. Who can succeed?". Profit by Pakistan Today.
  3. ↑ "Meezan Bank acquires SG operations". Dawn. May 2, 2002.
  4. ↑ "Meezan Bank to acquire HSBC Pakistan". Business Recorder. May 10, 2014.
  5. ↑ "Meezan Bank signs deal to acquire HSBC Pakistan". The News International. May 10, 2014.
  6. ↑ "Meezan acquires HSBC Oman's operations". The Express Tribune. November 7, 2015.
  7. ↑ "Meezan Bank acquires HSBC Oman". The News International. November 7, 2015.
  8. ↑ "Islamic Bank | Corporate Profile | About Us | Meezan Bank". www.meezanbank.com. Retrieved 2020-06-07.

Bibliography


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