Meezan Bank analysis

8/9/2019 Meezan Bank analysis

1/34

Meezan Bank Pakistan

IReport on Products and Applications of Meezan Bank|


2/34



TOPIC!

Group Members:

SakinaNarmeen (MAF-12-01)

Faiqa Aziz (MAF-12-31)

Rubina Pareen (MAF-12-!1)

"r#a Ra$eem (MAF-12-!2)

%e$mina &asmin (MAF-12-!')

Bahauddin Zakariya University Multan

Department Of Commerce


3/34



%his assignment is concerned to the products and

applications of Meezan Bank. They are providing facilityof both Personal and Business banking. We have seen that

how their Products (account are applying! what are

account opening procedures! profit sharing patterns

(rations and distributions! and online banking systems.

"ach Product (account has shown with its introduction!

features! facilities! profit ratios! fatwa etc.

#n preparation of this report we tried our best to provide

all information about the Products and $pplication of

Meezan Bank of Pakistan. $t the end we have sum up our

discussion in a precise and understandable form.

PRODUCTS AND

APPICATIONS O! M""#AN

BAN$


4/34




5/34


MEEZAN BANK



6/34



INTRO DUCTI


7/34


Meezan Bank %imited is the first and largest #slamic Bank in Pakistan. Meezan Bank offers the largestbranch network and the wide range of products to fulfill all financing needs of individuals and

businesses. Meezan Bank provides a world class banking e&perience with e&cellence in service!

convenience and accessibility with no compromise in the strict adherence to the principles of #slamic

'hariah.

Meezan Bank holds an e&traordinary research and development capability by combining e&perts of

finance with 'hariah scholars to develop innovative and competitive value propositions to meet the

reuirements of today)s comple& financial world. Meezan Bank)s 'hariah 'upervisory Board comprises

of internationally renowned #slamic 'cholars who review and prove the Bank)s activities! products and

services.

The 'hariah Board comprises of the following members*

+ustice (,etired Muhamad Tai -smani (Pakistan /hairman

0r. $bdul 'attar$bu 1huddah ('audi $rabia

'heikh "ssam M. #sha (Bahrain

0r. Muhammad #mran -smani (Pakistan 2 'hariah $dvisor

Meezan Bank is the fastest growing #slamic bank in Pakistan backed by a strong balance sheet and a

medium to long term entity rating of $$ and a short term rating of $34 by +/,5#' (6733. Theshareholders include leading financial institutions including 8oor 9inancial #nvestment /ompany

(:uwait! Pakistan :uwait #nvestment /ompany (Pvt.

%imited and the #slamic 0evelopment Bank

(+eddah.

ur ision



8/34


"stablish #slamic banking as banking of first choice to facilitate thimplementation of an euitable economic system! providing a strong foundation

for establishing a fair and ;ust society for mankind.

ur Mission

To be a premier #slamic bank! offering a onestop shop for innovativevalueadded products and services to our customers within the bounds o

'hariah! while optimizing the stakeholders value through an organizationa

culture based on learning! fairness! respect for individual enterprise an

performance.

ur Seri*e Mission

To develop a committed service culture which ensures the consistendelivery of our products and services within the highest uality servic

parameters! promoting #slamic values and ensuring recognition and a ualit

banking e&perience to our customers.

ur a+ues,ore a+ues

These are*

'hariahcompliance! #ntegrity! Professionalism! #nnovation! 'ervice! "&cellence! 'ocial ,esponsibility.

Sa..

These are*

/ommitted! motivated and professionally trained employees who are empathic to their customers) needs.

/ran Persona+i

$ sober and established! strong! empathic! professional person< who is an e&tremely loyal and depend

friend and business partner! and is committed to offering comprehensive valuebased 'hariahcomp



9/34


financial solutions.

Re+aions$ips

=ur relationships are longterm. We recognize and value our customers) needs above all and strive to en

their fulfillment. $ll customers are treated with professionalism and in a friendly manner. #t is our try to enthat they receive efficient and timely service. The Meezan Bank e&perience is a uniue one.

With a Meezan 5isa 0ebit /ard! you have access to the money in your account wherever you are!

whenever you want! wherever you see the 5isa symbol. The money is deducted from your balance

straight away! there is no interest to pay! no bills > no late fees.

"sin our *ar is qui*ker $an makin a rip o $e bank45

(ii) 6nerne /ankin

Meezan #nternet Banking is the smarer #a o bank! providing you global access to your account 6?

hours a day! @ days a week.

Fa*i+iies:

With Meezan #nternet Banking! you can get secure and convenient access to the following facilities*

Balance inuiry of multiple accounts

5iew account statement

9unds Transfer 9acility (Personal > Third Party

Funs %rans.er o our o#n a**oun

Transferring funds between the same title of account within the limit of ,s.377!777 per day.

Fun %rans.er o an Meezan /ank a**oun

Transferring funds to any Meezan Bank account has never been this fast! secure and convenient.

With a funds transfer limit as high as ,s. 377!777 per day! there is no reason to stand in ueues.

Bill Payments* -tility and Mobile Phones

/heck book and payorder reuest


17 Persona+ bankin4

(a) 8eposi A**ouns

n+ine /ankin:

=ur free =nline Banking! offers the following services*

,ealtime cash deposit! instantly crediting your accountA

,ealtime cash withdrawal upto ,s. million! giving you access to your money from anywhere

in the /ountryA

Transfer of funds between your Meezan Bank accounts

0eposit and collection of clearing /heues drawn within the same city.

#ssuance of Payorder from any Meezan Bank branch

Pro.i s$arin 9 8isribuion Me$o

The Bank calculates the profit of the deposit pool every month. 1ross income of the deposit

pool is shared between the Bank (Mudarib and customers (,abulMaal on the basis of a

predetermined profitsharing ratio announced at the beginning of the month..

Pro.i S$arin Raio

%&Bank 'ill s(are )*+ of ,ross Inco-e as Mudari.&

/& Depositor 'ill s(are )*+ of ,ross Inco-e as Ra.0ul0Maal

PN6NG AN A,,"N%

+ust fill in our $ccount =pening 9orm (available at anybranch! and submit the reuired documents.

The Bank reserves the right to request further documentation on a case-to-case basis.
http://%20void%280%29/http://www.meezanbank.com/branches.aspxhttp://%20void%280%29/http://www.meezanbank.com/branches.aspxhttp://www.meezanbank.com/branches.aspxhttp://%20void%280%29/http://www.meezanbank.com/branches.aspx


10/34


(iii) Meezan ;ui*k Pa

No more #aiin in queues o pa bi++s 45

Cuick Pay allows you to pay your -tility and Mobile Phone Bills anytime ! without waiting in ueues at

the bank)s counterA Meezan Cuick Pay service is available 6?hours! @days a week via Meezan Bank)s free

#nternet Bankingfacility and via the Meezan$TM 8etwork

Charges.

$ nominal charge of ,s. 37 is charged on payment of each utility bill.

,s. ? for inuiry of Bill 0etails

,s. D for Bill Payment

/ustomers subscribed to Meezan 'M' $lerts servicesmay receive two 'M' $lerts with transactions

of ,s. ? and ,s. D

SMS A+ers

Sa up-o-ae #i$ e


11/34


8ebi A+er:$n instant 'M' alert to inform you when any amount is deducted from your /urrent or

'avings account.

,rei A+er:$n instant 'M' alert to inform you when any amount is added into your /urrent or

'avings account.

,$eque /oun*e:$n instant 'M' alert to inform you that your cheue has been dishonored.

(i) A%M Ne#ork

er 220 A%Ms naion#ie45Meezan Bank offers a wide network of $TMs located at its branches as well as prominent offsite locations.

Eou do not need to carry cash anymore< simply go to the $TM and withdraw cash anywhere! anytime.

We also offer access to more than 6!777 $TM locations countrywide via 3%ink and M8"T 8etwork.

Transfer funds between your own accounts in the same branch

via $TM.

The cash withdrawal limit for Meezan 5isa 0ebit /ard per day

is sub;ect to the funds present in your selected account. -tility Bill payment facility (Meezan Cuick Pay.

() 2=>? ,a++ ,ener

,onenien*e an ,are45

By simply dialing* 111-331-331> 111-331-332

9rom outside Pakistan* 4F663333GG3GG3 > 4F663333GG3GG6

http://www.meezanbank.com/smsalerts.aspxhttp://www.meezanbank.com/8to8Banking.aspxhttp://www.meezanbank.com/quickpay.aspxhttp://%20void%280%29/http://www.meezanbank.com/smsalerts.aspxhttp://www.meezanbank.com/callCenter.aspxhttp://www.meezanbank.com/8to8Banking.aspxhttp://www.meezanbank.com/AjaxFunction.aspx?id=436&width=250http://%20void%280%29/http://www.meezanbank.com/quickpay.aspx


12/34


Eou get access to a widerange of Telebanking solutions and personalized banking services including

answers to uestions on #slamic Banking. Eou can also access our selfservice banking! where you will

be guided and assisted in all transactions.

(i) 6ner /ank Funs %rans.er

+e*roni* /ankin45

Meezan Bank offers #nter Bank 9unds Transfer (#B9T facility to our 5isa 0ebit card customers. $ fast!

secure and convenient service which allows you to transfer funds to the following member banks

through our network of nationwide $TMs*

6/F% Member /anks

$llied Bank %imited

$P8$ Bank

$skari Bank %imited

(e) ,onsumer Finan*e

http://www.meezanbank.com/callCenter.aspxhttp://www.meezanbank.com/8to8Banking.aspxhttp://www.meezanbank.com/AjaxFunction.aspx?id=436&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=393&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=436&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=393&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=149&width=250http://www.meezanbank.com/smsalerts.aspxhttp://www.meezanbank.com/callCenter.aspxhttp://www.meezanbank.com/8to8Banking.aspxhttp://www.meezanbank.com/AjaxFunction.aspx?id=436&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=393&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=149&width=250http://www.meezanbank.com/callCenter.aspxhttp://www.meezanbank.com/8to8Banking.aspx


13/34


(i) as @ome

as @ome is a S$aria$-*omp+ian @ome Finan*e .a*i+i45

6s+ami* @ouse Finan*in

=ne that is comprehensive! affordable! and totally hasslefree. Meezan Bank is committed to meet ourcustomers) needs in a truly 'hariahcompliant manner coupled with dedicated service e&cellence.

"asy Home not only allows you to own your own home by paying easy installments but also keeps

you safely away from interest based financing.

as @ome #orks on a 8iminis$in Mus$araka$ basis

With "asy Home you participate with Meezan Bank in ;oint ownership of your property! where the

Bank will provide a certain amount of financing. Eou agree to a monthly payment to the bank of

which one component is for use of the home! and another for your euity share.

#n fact! the total monthly payment is reduced regularly as your share in the property grows. When you

have made the full investment! which had been agreed upon! you become the sole owner with a free

and clear title to the property.

(ii) ,ar 6ara$

Meezan /ank proies S$aria$ ,omp+ian .inan*in so+uions .or iniiua+s75

$s a step towards Meezan Bank)s mission to provide a onestop shop for innovative valueadded

'hariah compliant products! Meezan Bank)s /ar6ara$unit provides car financing based on the

principles of #;arah and is free of the element of interest.

/ar #;arah is Pakistan)s first #nterest 9ree car financing based on the #slamic financing mode of

#;arah (#slamic leasing. This product is ideal for individuals looking for car financing while avoiding

an interestbased transaction.

Meezan Bank) /ar #;arah is a car rental agreement! under which the Bank purchases the car and rents

it out to the customer for a period of G to years! agreed at the time of the contract.

-pon completion of the lease period the customer gets ownership of the car against his initial security

deposit.

Ri$s 9 +iabi+iies o. #ner >s "ser

http://www.meezanbank.com/AjaxFunction.aspx?id=436&width=250http://%20void%280%29/http://www.meezanbank.com/callCenter.aspxhttp://www.meezanbank.com/callCenter.aspxhttp://www.meezanbank.com/AjaxFunction.aspx?id=437&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=437&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=437&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=436&width=250http://%20void%280%29/http://www.meezanbank.com/callCenter.aspxhttp://www.meezanbank.com/AjaxFunction.aspx?id=436&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=437&width=250


14/34


$n #slamic #;arah is an assetbased contract! i.e. the lesser should have ownership of the asset during the

period of the contract. -nder #slamic 'hariah! all ownership related rights and liabilities should lie with

the owner while all usagerelated rights and liabilities should lie with the user.

$ conventional lease contract does not distinguish between the natures of these liabilities and places allliabilities on the user of the asset! which is contradictory to #slamic 'hariah.

-nder #;arah! all ownershiprelated risks lie with the Bank while all usage related risks lie with the user!

thus making the lesser the true owner of the asset and making the income generated through the contract

permissible (Halal for the Bank.

(iii) Meezan Bapop ase

Meezan Bank provides 'hariah /ompliant %aptop financing facility for individuals as well as /orporate

groups. %aptop "ase is a 'hariahcompliant %aptop 9inance facilityA =ne that is comprehensive!affordable and totally hasslefree. Meezan bank is committed to meet customers) needs in a truly

'hariahcompliant manner coupled with dedicated e&cellence.

Mon$+ insa++men as +o# as Rs72C?23>-

Spe*ia+ Feaures

9ollowing are few special features of this affinity program*

"asy #nstallment options for financing period for G to 6? months. 3 year warranty for 0ell! HP > $pple Products provided by vendor.

9ree /arrying /ase for 0ell > HP laptops provided by vendor.

0edicated /all /enter for addressing aftersale issues provided by vendor.

9ree%aka.u+(#slamic #nsurance cover up to 377I in case of damage and up to 7I in case of

theft of laptop /omplete surety and peace of mind that purchased laptop is a genuine brand

%aptop model offerings will vary from time to time in consistence with the latest > upgraded

features and market demand.

http://www.meezanbank.com/AjaxFunction.aspx?id=436&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=368&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=368&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=436&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=368&width=250


15/34


J

(.) Asse Manaemen

A+-Meezan $e aisor arm o. Meezan /ank45

$l Meezan #nvestment Management %imited ($l Meezan! the asset management and investment

advisory arm of Meezan Bank %imited! specializes in the development and management of 'hariah

compliant investment solutions.

$l Meezan has emerged as one of Pakistan)s leading flagships of Mutual 9unds business managing

assets of a large investor base of over 67! 777. $l Meezan has one of the longest and the most

successful track record of managing mutual funds in the private sector! spanning over 3@ years.

Funs an an aminisraie p+an:

$l Meezan is presently managing nine funds and an administrative plan under following categories*

(a) Funs p+an

3. =pen "nd 9unds

6. 5oluntary Pension 'chemeG. /lose "nd 9unds

17 pen n Funs

$l Meezan Mutual 9und ($MM9IReport on Products and Applications of Meezan Bank|
http://www.meezanbank.com/visadebit.aspxhttp://www.meezanbank.com/smsalerts.aspxhttp://%20void%280%29/http://www.meezanbank.com/visadebit.aspxhttp://www.meezanbank.com/smsalerts.aspxhttp://%20void%280%29/


16/34


http://www.meezanbank.com/internetBanking.aspxhttp://www.meezanbank.com/onlinebanking.aspxhttp://www.meezanbank.com/internetBanking.aspxhttp://%20void%280%29/http://%20void%280%29/


17/34


FATAWA!

http://www.meezanbank.com/AjaxFunction.aspx?id=436&width=250


18/34


http://www.meezanbank.com/AjaxFunction.aspx?id=433&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=274&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=205&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=436&width=250


19/34


http://%20void%280%29/http://www.meezanbank.com/AjaxFunction.aspx?id=436&width=250http://www.meezanbank.com/BusinessPlus.aspxhttp://www.meezanbank.com/karobariMunafaAccount.aspxhttp://www.meezanbank.com/MIIDA.aspxhttp://www.meezanbank.com/rupeeCurrentAccount.aspxhttp://www.meezanbank.com/rupeeSavingAccount.aspxhttp://www.meezanbank.com/AjaxFunction.aspx?id=433&width=250http://www.meezanbank.com/DollarSavingAccount.aspxhttp://www.meezanbank.com/EuroSaving.aspxhttp://www.meezanbank.com/poundsaving.aspxhttp://%20void%280%29/


20/34


http://www.meezanbank.com/AjaxFunction.aspx?id=436&width=250http://www.meezanbank.com/internetBanking.aspx


21/34


http://www.meezanbank.com/AjaxFunction.aspx?id=436&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=436&width=250http://%20void%280%29/http://www.meezanbank.com/smsalerts.aspxhttp://www.meezanbank.com/callCenter.aspxhttp://www.meezanbank.com/8to8Banking.aspx


22/34


http://www.meezanbank.com/AjaxFunction.aspx?id=436&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=393&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=149&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=205&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=436&width=250


23/34


http://www.meezanbank.com/AjaxFunction.aspx?id=436&width=250http://%20void%280%29/


24/34


http://www.meezanbank.com/AjaxFunction.aspx?id=433&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=433&width=250http://www.meezanbank.com/AjaxFunction.aspx?id=437&width=250http://www.meezanbank.com/branchNetwork.aspxhttp://www.meezanbank.com/branchNetwork.aspxhttp://www.meezanbank.com/visadebit.aspxhttp://www.meezanbank.com/internetBanking.aspxhttp://www.meezanbank.com/AjaxFunction.aspx?id=436&width=250


25/34


http://%20void%280%29/http://%20void%280%29/


26/34


http://www.westernunion.com/https://wumt.westernunion.com/asp/orderStatus.asp?country=global


27/34




28/34




29/34




30/34




31/34




32/34




33/34




34/34


Date post:	01-Jun-2018
Category:	Documents
Upload:	usman-ali
View:	225 times
Download:	0 times

Meezan Bank analysis

Documents