Pakistan’s largest Islamic bank Meezan Bank Ltd held its 14th Shariah Supervisory Board meeting at the Darul Uloom Korangi.
The meeting was chaired by Mufti Taqi Usmani and attended by other prominent International Shariah scholars including Sheikh Essam Ishaq from Bahrain and Dr. Imran Usmani. The senior management of Meezan Bank including Chief Operating Officer, Mr. Ariful Islam and President & CEO, Mr. Irfan Siddiqui and other team members were also present.
Several important matters were discussed in the meeting including introduction of new Shariah-compliant products and services. The Shariah Board praised the performance of the Bank and showed overall satisfaction on the Shariah-Conformity of the products and overall business and transactions of Meezan Bank Limited.
Later, Sheikh Essam addressed the Senior Management of Meezan Bank and discussed with them various issues regarding Islamic Banking and Finance.
Meezan Bank has an aggressive branch expansion plan and an effective direct sales strategy. The Bank's Retail Banking network is organized through 166 ‘online’ branches spread across 40 cities of Pakistan supported by 24/7 banking services to its customers, which include 120 ATM's, Internet Banking and Call Center.
Meezan Bank was incorporated in 1997 and has been one of the fastest growing financial institutions in Pakistan. It has the privilege of having been awarded the first full fledged Islamic Banking license by the State Bank of Pakistan. Total number of employees also increased from 159 in 2002 to over 3000 in 2008.