Shariah Shariah Supervisory Board Chaired by Justice(Retd.)
Shariah Supervisory BoardThe Bank has a globally eminent Shariah Supervisory Board Chaired by Justice(Retd.) Maulana Muhammad Taqi Usmani, a universally famous figure in the field of Shariah, especially Islamic Finance. He holds the situation of Deputy Chairman at the Islamic Fiqh Academy, Jeddah and in his long and famous profession has likewise filled in as a Judge in the Shariat Appellate Bench, Supreme Court of Pakistan.
The Board likewise incorporates Sheik Essam M.Ishaq (Bahrain), Dr. Abdul Sattar Abu Ghuddah (Saudi Arabia) and Dr. Imran Usmani who is additionally the inhabitant Shariah Advisor of the Bank Fruitful execution of the Islamic Banking model rests upon total adherence to the standards of Islamic Shariah.
The establishments of a solid Shariah supporting at Meezan Bank were laid from the earliest starting point. An incredibly famous Shariah Supervisory Board and an exceedingly qualified and experienced in house Shariah Advisor are central parts of the Bank’s center USP. The essential part of this Board is to keep up and additionally fortify this dedication and to guarantee strict Shariah-consistence in every aspect of the Bank’s activities. Individuals from the Shariah Supervisory Board of Meezan Bank are Internationally-eminent researchers, serving on the sheets of numerous Islamic banks working in various nations.Justice (Retd.) Muhammad Taqi Usmani (Chairman)Sheikh Esam Mohamed Ishaq (Board Member)Dr.
Muhammad Imran Ashraf Usmani (Resident Shariah Board MemberShareholding structureThe Bank’s main shareholders are prominent financial institutions of the Region namely, Noor Financial Investment Company, Pak-Kuwait Investment Company, and Islamic Development Bank of Jeddah. The established position, status, power and solidity, of these institutions add important value to the Bank through Board representation and applied synergies. o Noor Financial Investment Company, Kuwait 49.11%o Pakistan Kuwait Investment Company (Pvt.) Limited 30.00%o Islamic Development Bank, Jeddah 9.32%o Other Shareholders 11.
57%o Statement of financial position as at Dec. 31 2017o Total Assets: PKR 531,850 billiono Deposits and other accounts: PKR 471,821 billiono Financings: PKR 2017,569 billiono Share Capital: PKR 10.027 billiono Shareholders’ Equity: PKR 25,557 billiono No.
of branches: 570o No. of cities of operation: 146o No. of Staff: +9000Detailed Description? Type public limited? Traded as KSE: MEBL? Industry Islamic Banking, Commercial Banking? Founded 1997? Headquarters Karachi, Pakistan? Products Murabaha, Ijarah, Diminishing Musharakah, VISA Debit Card, Saving Accounts, Consumer Banking etc? Revenue Increase?22.25 billion (US$210 million) – ? Net income Increase?5.02 billion (US$48 million) – ? Total assets Increase?531.8 billion (US$5.1 billion) – HEAD OFFICE and DepartmentsMeezan Bank Limited, Meezan House, C-25 Estate Avenue, SITE, Karachi.
The division working under MBL Head office is as follows:? Administration? Credit Management ? Investment Banking ? Human Resource ? Information Technology? Corporate Planning & Budgeting? Finance & Treasury? International Division? Inspection & Audit? Law Division? Marketing & Development ? Trustee DivisionUnder the President an Executive Committee and a Credit Committee works. All the matter of the bank join to the leading group of chief are displayed to the official council which is in charge of day by day activity of the bank .The ask for credit surpassing the General Manager control is endorsed by the Credit Committee.
Under the territory Executive is the General Manager who is the accountable for the Circle Office. Under the General Manager is the Zonal Manager and afterward the Branch Manager. At exhibit, there are 20 circles, 48 locales and 570+ branches.
Before privatization there were Provincial Chiefs for all the four regions. Be that as it may, this administration currently has abrogated the common officers and enhanced the effectiveness of the bank.CIRCLE OFFICEThe working of circle office is to control and direct the elements of branches which are under in its control. The elements of circle office are to prepare the stores and get reports from branches. Circle office resembles a smaller than usual head office. Operators and reporters of MBL are in every business city of the world. Circle office is separated in the accompanying division:Credit ManagementAudit & InspectionHuman ResourceMarketing & DevelopmentHow to Get Goods through Consumer EaseTo apply for Meezan Bank’s Consumer Ease, round out the application frame (accessible at any Branch and on Meezan Bank’s Website), append the required records and get your financing limit endorsed.
Once the breaking point is affirmed you can pick the thing you need to buy and Meezan Bank will mastermind to have it conveyed to your address.List of required documentsSalaried• Copy of Applicant’s CNIC• 1 Passport-sized colored photograph of applicant• Original / Certified copy of Bank Statement (last 06 months)• Original / Certified copy of Pay Slip• Employer’s certificate including Tenor /Designation /Salary• Declaration of Financing• Signature Verification Form.Businessmen / SEP• Copy of Applicant’s CNIC• 1 Passport-sized colored photograph of applicant• Original / Certified copy of Bank Statement (last 12 months)• 2 years Proof of Business (e.g. NTN / Tax return / Bank Certificate / Association Letter)• Copy of NTN Certificate• Declaration of Financing• Signature Verification Form.