Prodects and Documentation of Meezan Bank Ltd

8/18/2019 Prodects and Documentation of Meezan Bank Ltd

1/23

Head Office of Meezan bank is located at,

3rd Floor PNSC Building,

Moulvi Taeezuddin !"an #oad !arac"i,

Sind", Pakistan$

Tel% &'()(*+ -*./(0-*.-1'$Fa2% &'()(*+ -*.31

$eezanbank$co

(401 Call Center ***)33*)33*

2302 Zabihullah Nasir

2396 Mehwish Jahan

BBA 6th Section-B (Eve

http://www.meezanbank.com/http://www.meezanbank.com/


2/23

!niversit" o# E$ucation %ahore& Multan 'a)us Bosan

*oa$ Multan

Mee+an Ban, is )ublicall" liste$ co)an"& rst incor)orate$ on

Januar" 2.& /99. 1t starte$ o)erations as an 1slaic investent

ban, in Auust o# the sae "ear& which has been license$ b" the

State Ban, o# 4a,istan5 to o)erate as an 1slaic coercial

ban, on 3/st Januar" 2002 State Ban, o# 4a,istan rante$ the

nations rst #ull-7ee$ coercial ban,in license o# 1slaic

Ban,in to Mee+an ban, lt$ 1t was a new era in ban,in sector

histor" in 4a,istan that Mee+an Ban, lt$ a$heres strictl" to the

)rinci)les o# 1slaic Shariah with absolutel" no co)roise& an$

is reconi+e$ as 4a,istans trul" )reier 1slaic Ban, Mee+an

Ban, is o)enin a))ro8iatel" ore than /66 branches in 0

$i:erent cities

1n a$$ition the State Ban, o# 4a,istan5 itsel# overns

the activities o# Mee+an Ban, an$ its Sharehol$ers Mee+an ban,lt$ has a stron Balance sheet with e8cellent o)eratin

)rotabilit"& inclu$in a ca)ital a$e;uac" ratio that has )lace$ the

Ban, at the to) o# in$ustr"& a lon-ter entit" ratin o# A


3/23

Shariah Boar$

>he ission o# Mee+an Ban, is

>o be a )reier 1slaic Ban,5

Mee+an Ban, has a ver" hih-caliber Shariah Su)ervisor"

Boar$5& co)rises o# internationall" renowne$ 1slaic scholars

>he Shariah Su)ervisor" Boar$5 reularl" reviews the ban,s

activities an$ a))roves all new )ro$ucts >he ban, also has aresi$ent Shariah a$visor ?octor Muhaa$ 1ran !sani& who

onitors $a"-to-$a" transactions o# the ban, >he Shariah Boar$

co)rises o# the #ollowin ebers@

Justice (*et$ Muhaa$ >a;i !sani (4a,istan chairan

?r Ab$ul Sattar Abu hu$$ah (Sau$i Arabia

Shei,h Essa M 1sha; (Bahrain

?r Muhaa$ 1ran Ashra# !sani (4a,istan

Shareholders in Meezan Bank

ur sharehol$ers are worl$-renowne$ nancial institution ie

4a,istan Cuwait investent co)an" (4vt %t$

Shail Ban, o# Bahrain E'

1slaic ?evelo)ent Ban,

Cuwait aw;a# 4ublic Doun$ation


4/23

Sau$i-4a, 1n$ustrial Ariculture 1nvestent 'o)an" (4vt

%t$

Mudarabah

>his is a ,in$ o# )artnershi) where one )artner ives one"

to another #or investin in a coercial enter)rise >he investent coes #ro the rst )artner who is calle$

*ab-ul-Mal5 (1nvestor >he anaer an$ wor, is an e8clusive res)onsibilit" o# the

other& who is calle$ Mu$arib5 (For,in )artner 4rot is share$ as )er aree$ ratio

1n case o# Mu$arabah all losses are borne b" *ab-ul-Mal

Key Features

>he structure is base$ on the )rinci)le o# Mu$arabah is

strictl" in con#orit" with the rules o# 1slaic Shariah 1t has been a))rove$ b" the Shariah Su)ervisor" Boar$ o#

Mee+an Ban, n areein to becoe an account hol$er& the custoer

enters into a relationshi) base$ on Mu$arabah with Mee+anBan,

!n$er this relationshi)

• >he Ban, is the Manaer (Mu$arib o# the #un$s

$e)osite$ b" the custoers

• >he custoer is an investor (*ab-ul-Mal

Accounts ofered by Meezan Bank Ltd on Mudarabah

Basis


5/23

• >he ban, allocates the #un$s receive$ #ro the

custoer to a $e)osit )ool

>hese #un$s #ro the )ool are utili+e$ to )rovi$e nancin to

custoers un$er 1slaic o$es that inclu$e& but are notrestricte$ to Mu$arabah an$ 1Garah

Prots

>he ross incoe will be share$ between the ban, (as Mu$arib

an$ $e)ositors (*ab-ul-Mal in a )re$eterine$ ratio (H o# the

actual )rot ea

Mee+an Ban, %t$ o:ers $i:erent t")es o# accounts on Mu$arabah

Basis >hese are as un$er@

*u)ee 'urrent Accounts

Mee+an Ban, is )lace$ to o:er *iba-Dree

current account& a 7e8ible ru)ee base$ account that is i$eal #or

in$ivi$uals an$ businesses loo,in #or Shariah co)liant ban,in

an$ )ro#essionalis both un$er one roo# >he Mee+an ban, current account& is a co)rehensive halal

etho$ o# ac;uirin a secure an$ easil" aintainable *iba #ree

ban, account

Bun$le$ with 2I. an$ s)ecial ban,in services& the Mee+an ban,

current account is an innovative value a$$e$ account which

)rovi$es custoers both case o# utilit" an$ unatche$ services

;ualit"

Key eatures o the Riba-Free urrent Account

• 1nstant access o# #un$s at an" online branch

• Dree *eal-tie online ban,in services across our branch

networ, nationwi$e


6/23

• isa ?ebit car$

• Dree 2I. internet ban,in

• No restriction on with$rawals or nuber o# transactions

• No $e$uction on low balance aintaine$

• Ban, balance certicates $u)licate stateents o# account• SMS alerts services

• Sto) )a"ent Kol$ Mail instructions

• 2I. 'all center with co)lete )hone-ban,in services

• 4ersonal nancial consultanc" services

• S)eciali+e$ L to L ban,in at selecte$ branches

Ru!ee sa"in# Accounts

A uni;ue ban, account that o:ers the o))ortunit" to earn Kalal)rots& while enGo"in a rane o# a$$e$ benets 1t can be

o)ene$ with a iniu aount o# onl" *s /0&000 >he )rot

on this account is calculate$ an$ )ai$ on a onthl" basis& an$

coes with a variet" o# #ree benets& no restrictions on

transactions& )riorit" ban,in an$ ore

Key eatures

A)art #ro rst class service an$ )ersonali+e$ attention thatour custoers et when the" ban, us& we o:er the #ollowin

a$$itional convenience@

• 4rot will be calculate$ on $ail" )ro$uct basis

• ?istribution o# )rots onthl" basis

• 1nstant access to #un$s at an" online branch

• Dree online ban,in services at all Mee+an ban, branches

nationwi$e

• No restriction on with$rawals or nuber o# transactions• Ban, Balance certicates an$ $u)licate stateent o#

account

• Sto) )a"ent an$ hol$ ail instructions

• isa $ebit car$

• 2I. call center with co)lete )hone-ban,in services


7/23


• S)eciali+e$ L to L ban,in at selecte$ branches

KMA $Karobari Munaa Accounts%

Carobari Muna#a is a hih )rot savin accounts s)ecicall"

tailore$ #or lare cor)orate or o) controlle$ entities 1t allows

custoers to earn hiher returns on sur)lus cash balances 1t has

no )reset transactions liits an$ coes with a variet" o#

)ac,ae$ benets

Key eatures

• 4rot will be calculate$ on $ail" )ro$uct basis

• Miniu balance re;uireent #or account o)enin is *s

/ Million

• No restriction on with$rawals or nuber o# transactions

• Dree #acilities& che;ue boo,s an$ )a" or$ers

• ?e$icate$ accounts I relationshi) anaer

• >he Carobari Muna#a accounts wor,s un$er the )rinci)les

o# Mu$arabah an$ is strictl" in con#orit" with the rules o#

1slaic Shariah 4rot calculations an$ all ban,in

transactions are in strict a$herence to the 1slaic Shariah&onitore$ b" our Shariah a$visor an$ the Shariah

Su)ervisor" Boar$

MBA $Meezan Bachat Accounts%

Mee+an Bachat Accounts is a uni;ue savin account that )rovi$es

hih onthl" returns with the 7e8ibilit" to with$raw savins i#

nee$e$ >hus Mee+an Bachat Account o:ers a hiher e8)ecte$

rate o# return the conviences o# a savin account

Fith a Mee+an Bachat account& custoers are entitle$ #or a

hiher the )rot with a hiher account balance 'ustoers

receive )rot even i# "our balance #alls below *s 2&000I- in an"

onth 4rot is cre$ite$ to custoer account ever" onth an$ is


8/23

calculate$ with re#erence to the iniu balance aintaine$ in

the account $urin the )rece$in onth

Key Features

EnGo" a rane o# valuable #eatures inclu$in@

• Kalal Kih co)etitive returns

• 4rot )a"ent on onthl" basis o)en #or in$ivi$uals onl"

• Miniu balance #or account o)enin is Gust *s 2&000I-

• Ma8iu balance liit #or ettin hihest )rot rate is *s

/0&00&000I-

• Faiver o# a))lication #ee #or car 1Garah Eas" Koe #or

accounts with iniu balance o# *s 00&000

• Dree real-tie online Ban,in services at all Mee+an Ban,

branches nationwi$e

• Dree ban, balance certicates

• isa ?ebit 'ar$


• 2I. internet Ban,in #ree an$ instant access to "our

account(s an"tie an"where


• S)eciali+e$ L to L Ban,in at selecte$ branches

&S 'ollar Sa"in# Account

Mee+an ban, is )lease$ to o:er riba-#ree $ollar savin account & a

#orein currenc" base$ investent o))ortunit" that is set u) on

the )rinci)al o# Shariah an$ as a result is #ree #ro the eleent o#

interestFith a iniu o# onl" O/00 "ou can o)en a $ollar savin

account with us a un$er a Mu$arabah arraneent that is strictl"

in con#orit" with the )rinci)les o# 1slaic Shariah >he return

earne$ on the Mu$arabah )ool is calculate$ ever" onth an$ the

)rot ratio #or all investors is $eclare$ at the beinnin aintain a


9/23

iniu averae onthl" balance o# O 00& custoer investor is

$eclare$ at the beinnin o# the onth 1# custoer aintains a

iniu averae onthl" balance o# O 00& custoer shall be

eliible to receive )rot that shall be cre$ite$ to custoers

account ever" onth

Key Features

A)art #ro rst class services an$ )ersonali+e$ attention that

Mee+an ban, custoers et when the" ban, us Mee+an Ban,

o:ers the #ollowin a$$itional conviences to their custoers@

• Mothl" )rot )a"ent• No restriction on with$rawals or nuber o# transactions


• >a,in sto) )a"ent instructions

• 1ssuance o# $u)licate stateent o# account


Meezan Business Plus - MBP

Mee+an Business 4lus is a Mu$arabah-base$ account that allowscustoer to con$uct "our ban,in transactions while availin a

wi$e rane o# #ree services an$ there#ore )rovi$es "ou the i$eal

blen$ o# convenience 7e8ibilit" that "ou $eserve in 1slaic

ban,in

Mee+an business )lus account can be o)ene$ b"@

• 1n$ivi$uals

• Sole )ro)rietorshi)s• 4artnershi)s

• %iite$ co)anies

Key Features


10/23

• Miniu investent is re;uire$ to o)en an account is *s

/00&000I-

• >here is no $e$uction o# service chares i# the balance

aintaine$ is low

• >here is no restriction on with$rawals or nuber o# transactions

• Pou will have instant access to "our account both throuh

internet ban,in an$ throuh online ban,in at all branches

o# Mee+an ban, across 4a,istan

>he #ollowin #acilities will be )rovi$e$ #ree o# chareQ i# an

Averae Monthl" Balance o# *s /00&000I- is aintaine$ in the

account

• Dree che;ue boo,s

• Dree )a" or$ers

• Dree 1SA ?ebit 'ar$

• Dree account stateents

• Dree online Ban,in

• Dree internet Ban,in

• Dree hol$ ail #acilit"

•

Dree SMS Alert services• Dree intercit" clearin

Meezan (sla)ic (nstitution 'e!osit Account $M(('A%

>he Mee+an 1slaic institution ?e)osit account (M11?A is a

uni;ue )ro$uct& tailore$ e8clusivel" #or 1slaic Dinancial intuitions

(1D1s Fith M11?A& an" 1D1 now has the o))ortunit" to anae

e8cess li;ui$it" in an ie$iate an$ )rotable anner& b"

aintainin a chec,in account with Mee+an Ban,

Structure o M(('A

All eliible 1slaic ban,s can enter into a Mu$arabah relationshi)

with Mee+an ban, !n$er this relationshi)& the res)ective 1slaic

ban,s are the investors (*ab-ul-Mal an$ Mee+an ban, is the


11/23

Manaer (Mu$arib o# the #un$s $e)osits b" the Mee+an ban,

allocates the #un$s receive$ #ro the 1slaic ban,s to a $e)osit

)ool consistin o# nancin un$er 1slaic o$es that inclu$es&

but is not restricte$ to& Murabaha an$ 1Garah

>he ban,s )rot sharin ratio is 0H o# ross incoe an$

$e)ositors )rot sharin ratio is 0H o# ross 1ncoe& calculate$

a#ter $e$uctin costs an$ e8)enses $irectl" incurre$ in $rivin

that 1ncoe >he weihtaes are available on this website or can

also be obtaine$ u)on re;uest >he ban,& at the tie o# )rot

$eclaration& at its sole $iscretion a" ive a$$itional )rot to

$e)ositors #ro its own )rot share 1n the case o# a loss& an$ as

)er the rules o# Mu$arabah& the $e)osit )ool shall bear the loss on

a a))ro)riate basis

Key Features

>he #eatures an$ echanics o# the )ro$uct are $etaile$ below

)rovi$in a rea$"-a$e solution ensurin hih returns& eas"

accessibilit"& total stabilit"& an$ absolute Shariah co)liance

A chec,in account onl" available #or 1D1s

?e)osits investe$ un$er a Mu$arabah arraneent

Miniu investent aount 4C* /&00&00&000I- or ulti)les

thereo#

Ma8iu investent aount 4C* / billion

Fith$rawals o# #un$s

2 hrs notice #or 4C* 0-200M $e)osit

Labbaik Sa"in# Aasaan-LSA

Mee+an Ban, is a co)letel" Kalal *iba Dree KaGG !rah)ro$uct

Cee)in "our convenience in in$& Mee+an Ban, !rah Schee

has been launche$ in collaboration with renowne$ >ravel Aents


12/23

Mee+an ban, is actin as sales #un$s collectin aents o# the

>ravel Aents

Key Features

• *enowne$ >ravel Aents on Mee+an ban, )anel

• 4ac,aes #or $i:erent $urations Dacilities are available

• 'o)lete isa )rocessin b" selecte$ >ravel aent

• 'onre$ returne$ airline tic,ets on an" airline

• 'o)lete accoo$ation in Kotels in Kara

• S)ecial Meet Assist services at air)ort

• 1nstallent )lan available #ro Mee+an Ban,

*% 1n$ivi$ual Accounts+% Joint Accounts,%Minor Account%Sole )ro)rietorshi) Accounts.% 1lliterate 'ustoer Account/%4artnershi) Account0%%iite$ %iabilit" 'o)anies Accounts1%Associations& 'oittee& Societies or club Accounts2%Non-*esi$ent *u)ees Accounts*3% >rust Accounts (with )rior )erission #ro K4**% E8ecutors& A$inistrators Accounts (with )rior

)erission #ro K4*+% %ocal Bo$ies Accounts*,% S)ecial convertible *u)ees Account (S'*A

*% Sta: Accounts

(ndi"idual Accounts

Accounts o# in$ivi$ual& who are resi$ent or non-

resi$ent& are to be o)ene$ un$er this cateor"

4hese all current and sa"in# accounts can be o!ened in any

cate#ory o the ollo5in# ty!es o accounts


13/23

6oint Accounts

Joint account is an account in the naes o# two or

ore )ersons (other than )artners o# trustees 1n this rear$ it to

be ensure$ that@

• >he Survivorshi) Man$ate5 is sine$ b" all )arties to the

account an$ instructions #or the o)eration o# account are

clearl" state$ an$ lle$ in the Man$ate

• 1n case o# $eath& che;ues sine$ b" ?ecease$ Account

hol$er )resente$ #or )a"ent will not be entertaine$ an$

there#ore ust be returne$

• Fhen the balance o# Goint account is )a"able to either )art"

or survivor& the S)ecien sinature 'ar$ shoul$ be ar,e$to e:ect the arraneent

Minor Account

A )erson who has not attaine$ the ae o# /L "ears

is inor

Kowever& in case 'ourt has a))ointe$ a uar$ian #or the )ro)ert"

o# a inor& an$ then the )erio$ o# hisIher aturit" e8ten$s to the

ae o# 2/

Sole !ro!rietorshi! Accounts

A #orall" sta)e$ written re;uest on the o=cial %etter Kea$ o#

the Business I Dir o# the sole )ro)rietor in or$er to o)en a sole

)ro)rietor account ust be subitte$ alon with AD (Accounts

)enin Dor

>his re;uest #or o)enin o# a sole )ro)rietorshi) account shoul$

co)rise the #ollowin clause@

1 a a sole )ro)rietor o# this r an$ as such& 1 a entirel"

res)onsible #or all transactions carrie$ out in the nae o# r an$

1 a res)onsibl" liable #or an" over$ra#t or other obliations


14/23

arisin in or in connection with this account an$ the Ban, is herb"

authori+e$ to $ebit the account with coission an$ I or other5

Ban,in chares an$ e8)enses incurre$ in connection with this

accountA$$itional care ust be ta,en while o)enin o# sole )ro)rietor

account Besi$e other $ocuents the custoer shoul$ be as, to

)ro$uce the oriinal N>N (National >a8 Nuber certicate issue$

to his nae in the ca)acit" as sole )ro)rietor o# sai$ r

(lliterate usto)er Account

>hese t")es o# accounts ate o)ene$ onl" #or those )ersons who

are illiterate >his account is also ,nown as 7Photo Account89that $urin o)enin this account we )aste the current )ass)ort

si+e )hotora)hs with AD (Account )enin Dor 1lliterate

)erson coul$ onl" o)en Savin Accounts Durtherore& all

with$rawals un$erta,en b" illiterate custoers ust be witnesse$

b" two Ban, o=cials an$ countersine$ b" Manaer )eration

Partnershi! Accounts

4artnershi) is an association o# two or ore )ersons who havearee$ to share )rots o# a business carrie$ on b" all or b" an"

one o# the actin #or all >he ters an$ con$itions ust be

s)elle$ out in the 4artnershi) ?ee$5 #orall" aree$ u)on

aon )artners b" incor)oratin the sae in the ?ee$

1t shoul$ ensure that@

• Accounts o# onl" *eistere$ 4artnershi) concerns will be

o)ene$ an$ the )artnershi) ?ee$5 will be obtaine$ an$criticall" reviewe$

• >he AD ust be sine$ b" all )artners in their ca)acit" as

in$ivi$ual an$ not as eber o# the )artnershi)


15/23

• >he sinin an$ $eclaration o# )ower o# those authori+e$ to

o)erate the account shoul$ be clearl" state$ on the AD

$ocuentation in accor$ance with the )artnershi) ?ee$ Li)ited Liabilities co)!any Accounts

>here are two t")es o# liite$ co)anies ie 4ublic %iite$ an$

4rivate %iite$ >he )ublic an$ 4rivate %iite$ co)anies are

both incor)orate$ an$ overne$ un$er the )rovisions o#

co)an"s or$inance /9L

A liite$ liabilit" co)an" a" be o)en an account with the Ban,

onl" i# it is authori+e$ to $o so b" a resolution o# the Boar$ o#

?irectors o# the co)an"

Durtherore& such resolution ust s)eci#" the titles I $esination

o# the o=cials authori+e$ to o)en an$ o)erate the account& the

e8tent o# their authorit" an$ the anner in which the account will

be o)erate$

Association9 o))ittee9 Societies or lub Accounts etc

Association& 'oittee& Societies or 'lub a" o)en an account

with the ban, onl" i# authori+e$ to $o so b" the overnin Bo$" o#

the sai$ Association I coittee I Societ" or 'lub

Account o# the Association& 'oittee& Societies or 'lub shoul$

not be allowe$ to be over$rawn No che;ue $rawn on the

accounts o# the Association& 'oittee& Societies or 'lub shall be

collecte$ #or the cre$it o# )ersonal I )rivate accounts o# an" o# the

=ce-Bearers o# Association& 'oittee& an$ Societies or 'lub

:on-Residential Ru!ees Accounts

Accounts o# in$ivi$uals& Dirs or 'o)anies who are resi$ent in

countries outsi$e o# 4a,istan an$ all nationals o# 4a,istan an$

)ersons $oicile$ in 4a,istan& who visit abroa$ #or the )ur)ose o#

e)lo"ent& stu$" an$ business etc& are treate$ as Non-

resi$ents as lon as the" reain outsi$e 4a,istan Accounts o# all


16/23

#orein nationals who are resi$ent in 4a,istan a" be treate$ as

*esi$ent Accounts

4rust Accounts

A trust Account a" be o)ene$ e8ce)tionall" with the )rior

a))roval o# Kea$ o# )erations >rust Accounts a" onl" be o)en

#or )arties whose interit" an$ stan$in is be"on$ an" $oubt

Be#ore sen$in the K (Kea$ =ce BM (Branch Manaer an$

Mo (Manaer )eration will o throuh the >rust ?ee$5 to

ensure that no un$ue onus is )lace$ on the Ban,

;


17/23

As )er the Dorein E8chane Manual 'ha)ter 20& S'*A can be

o)en b" Nonresi$ents #or the )ur)ose to tra$e in the shares

;uote$ on the Stoc, E8chanes in 4a,istan Such accounts can be

#e$ b" reittances #ro abroa$ or b" trans#er #ro a #orein

currenc" account aintaine$ b" the non-resi$ent investor in4a,istan >he balance available there in can be use$ #or )urchase

o# an" share ;uote$ on the Stoc, E8chane Branches will be

re;uire$ to subit wee,l" stateent in the )rescribe$ 4er#ora

(-92 o# DE- Manual showin the )osition in res)ect o# S'*A

accounts as on each Satur$a"

Staf Accounts

Sta:s can o)en onl" one savin or current account sinl" or Gointl" with his I her s)ouse at the tie o# a))ointent in the

res)ective branch o# Mee+an Ban, %iite$ >he account will be

o)ene$ #or the )ur)ose o# salar" $isburseent (li,e salar"& bonus&

increents& allowance or an" #or o# reiburseent #ro

Mee+an Ban, %iite$ aainst services ren$ere$ b" e)lo"ee

*= (ndi"idual accounts>

• 'o)" o# 'N1'

• An" )roo# o# 1ncoe (salar" sli)I N>N

• An" !tilit" Bill (#or A$$ress erication

+= Pro!rietorshi! Account

• 'o)" o# 'N1'

'ocu)entation o ?!enin# an Account


18/23

• 4roo# o# )ro)rietorshi) (N>N 'erticate

• 3 Account )enin *e;uest 4ro)rietorshi) letter on Dirs

%etter Kea$

• An" !tilit" Bill (#or A$$ress erication

,= Minor Account

• 'o)" o# 'N1' o# uar$ian

• 'o)" o# Birth 'erticate

• 'N1' co)" o# uar$ian

= Partnershi! Accounts

• *eistere$ 4artnershi) ?ee$ ('ertie$ 'o)"

• %etter o# Authorit" Man$ate

• 'o)ies o# 'N1's o# all )artners

• Account o)enin *e;uest %etter on rs %etter Kea$

.= Li)ited o)!any>

• 'o)" o# 'erticate o# 1ncor)oration

•

%ist o# ?irectors• Meoran$u Articles o# Association

• Boar$ *esolution

• 'erticate o# 'oenceent o# Business (#or 4ublic %t$

'o

• 'o)ies o# 'N1's o# all ?irectorsISinatories

• %atest co)" o# certie$ Dor-29

/= lub@ Society@ Association>

• 'o)" o# *ulesIB"-%aws

• 'o)" o# *eistration (i# a))licable

• %ist o# e8ecutive MeberIManaeent

'oitteeIManaeent Boar$ etc


19/23

• 'ertie$ 'o)" o# *esolution

• 'N1's o# all Mebers o# Manaeent Bo$" Sinatories

• !n$erta,ins to ie$iate in#or the ban, in writin

about an" chanes in Manaeent 'oitteeI

Authori+e$ )ersons

:?4;

>hese all $ocuents are re;uire$ oriinal& ban, itsel#

et the )hotoco)" o# these $ocuents

KousewivesIStu$entsI*etire$ 4ersonal@ ?ocuents as re;ueste$

b" branch

Musharakah

Mushara,ah is the t")e o# 4artnershi) in which both the )artners

invest e;uall"& an$ share their )rot losses e;uall"

'(FF;R;:; B@ M&SARAKA C M&'ARABA

Musharakah

• 1n Mushara,ah both )arties invest

• Both )arties wor,

• 1n Mushara,ah the )rot an$ losses share$ e;uall"

Mudarabah

• 1n Mu$arabah one )art" invest (*ab-ul-Mal an$ other )art"

wor, (Mu$arib

• 4rot is share$ as )er aree$ ratio

'NS!ME* BANC1N 4*?!'>S DDE*S BP MEEZAN BANC

%>? N M!SKA*ACAK BAS1S


20/23

• 1n case o# Mu$arabah all losses are borne b" *ab-ul- Mal

?:S&M;R BA:K(:D PR?'&4S

'onsuer Ban,in 4ro$ucts are

/ Murabah2 'ar 1Garah3 Eas" Koe

Meezan Bank Murabah

Murabah is the t")e o# short ter nancin in which Ban, is the

owner o# )ro$uct an$ )urchases that #or the custoer %i,e other

ban,s Mee+an ban, is not )rovi$in the loan to the custoer& but

i# the" nee$ an" t")e o# )ro$uct li,e Machiner" etc #or his use

Ban, has no e8)ertise& so ban,s a,e the aent to that )erson&

he will bu" hisel# an$ then han$ it over to the ban, >hen ban,

will ive hi on cost )lus )rot 1# $urin bu"in an" t")e o#

su$$en acci$ent occurs& the whole loss will be borne b" the ban,because the ban, is owner o# that aterial

Meezan Bank ar (Earah

'ar 1Garah is 4a,istans rst 1nterest Dree5 car nancin base$ on

1slaic nancin o$e o# 1Garah or 1slaic leasin >his )ro$uct is

i$eal #or interest a$verse in$ivi$uals& loo,in #or a car nancin

that )rovi$es the convenience o# a well $esine$ )ro$uct whileavoi$in an interest base$ transaction

'ar 1Garah is si)l" a rental areeent un$er which the car will

be iven to the custoer on rent #or a )erio$& aree$ at the tie

o# the contract Mee+an Ban, )urchases the car an$ rents it out to


21/23

the custoer #or a )erio$ o# 3& or "ears !)on co)letion o#

the lease )erio$ he custoer ets ownershi) o# the car aainst

his initial securit" $e)osit

'ar 1Garah is uni;ue an$ is a))rove$ b" Mee+an Ban,s ShariahBoar$

'ar 1Garah& $esine$ un$er the su)ervision o# Mee+an Ban,s

Shariah Su)ervisor" Boar$& is uni;ue to car leasin #acilities

)rovi$e$ b" other ban,s *ihts liabilities o# wner vIs !ser

An 1slaic 1Garah is an asset-base$ contract& ie the lesser shoul$

have ownershi) o# the asset $urin the )erio$ o# the contract

!n$er 1slaic Shariah& all ownershi) relate$ rihts an$ liabilities

shoul$ lie with the owner while all usae-relate$ rihts an$

liabilities shoul$ lie with the user A conventional lease contract

$oes not $istinuish between the natures o# these liabilities an$

)laces all liabilities on the user o# the asset& contra$ictor" to

1slaic Shariah !n$er 1Garah& all ownershi)-relate$ ris,s lie with

the Ban, while all usae relate$ ris,s lie with the user& thus

a,in the %esser the true owner o# the asset an$ a,in the

incoe enerate$ throuh the contract )erissible (Kalal #or the

Ban,

'ar (Earah& 4a,istans Dirst 1slaic 'ar Dinancin

As a ste) towar$s Mee+an Ban,s ission to )rovi$e a one-sto)

sho) #or innovative value a$$e$ Shariah co)liant )ro$ucts&

Mee+an Ban,s 'ar 1Garah unit )rovi$es a car nancin& base$ on

the )rinci)les o# 1Garah an$ is #ree o# the eleent o# interest

'ar 1Garah is 4a,istans rst 1nterest Dree car nancin base$ on

the 1slaic nancin o$e o# 1Garah (1slaic leasin >his )ro$uct

is i$eal #or in$ivi$uals loo,in #or car nancin while avoi$in an

interest-base$ transaction


22/23

Mee+an Ban, 'ar 1Garah is a car rental areeent& un$er which

the Ban, )urchases the car an$ rents it out to the custoer #or a

)erio$ o# 3 to "ears& aree$ at the tie o# the contract !)on

co)letion o# the lease )erio$ the custoer ets ownershi) o#the car aainst his initial securit" $e)osit

Meezan Bank ;asy o)e $house nancin#%

Eas" Koe is 4a,istans rst totall" Shariah-co)liant Koe

Dinance #acilit"R ne that is co)rehensive& a:or$able& an$ totall"

hassle-#ree Dor at Mee+an Ban,& we are coitte$ to eetinour custoers nee$s& in a trul" Shariah-co)liant anner

cou)le$ with $e$icate$ service e8cellence

hy is alal ho)e nance so i)!ortant to you

wnin "our own hoe is one o# li#es ost i)ortant

achieveents 1t re)resents "our securit"& stabilit"& an$ is a reat

blessin in itsel# 1t )rovi$es that all-i)ortant sa#et" an$ co#ort

#or "ou an$ "our love$ ones

Kowever& in to$a"s o#ten un)re$ictable an$ costl" environent&

savin the re;uire$ one" can ta,e a li#etie in itsel# *isin

)ro)ert" )rices& ta8es& in7ation& currenc" $evaluationT its all a

ver" har$ barain n the other han$& ownin "our own hoe an$

)a"in an eas" installent& which ta,es "ou ste) b" ste) towar$s

co)lete ownershi)& is so uch better than )a"in rent which

ultiatel" onl" a$$s to "our e8)ensesA$$e$ to that is "our $esire to sta" awa" #ro interest base$

nancin an$ be totall" *iba-#ree& thus achievin that co)lete

inner satis#action an$ )eace o# in$ Fh" not have the best o#

both worl$sU 1snt that what "ou are wor,in so har$ #or an"wa"U


23/23

(sla)ic Financin# on a 'i)inishin# Musharakah basis

Fith Eas" Koe "ou )artici)ate with Mee+an Ban, in a Goint

ownershi) o# "our )ro)ert"& where the Ban, will )rovi$e a certain

aount o# nancin (usuall" u) to L0H Pou aree to a onthl"

)a"ent to the ban, o# which a co)onent is #or the use o# the

hoe& an$ another #or "our e;uit" share 1n #act& the total

onthl" )a"ent is re$uce$ reularl" as "our share in the

)ro)ert" rows Fhen "ou have a$e the #ull investent& which

ha$ been aree$ u)on& "ou becoe the sole owner with a #ree

an$ clear title to the )ro)ert"

Date post:	06-Jul-2018
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Prodects and Documentation of Meezan Bank Ltd

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