KARACHI – The Banker, a prestigious publication of the Financial Times Ltd, London, has recognised Meezan Bank, Pakistan’s first and largest Islamic bank as the best ‘Islamic Bank of the Year 2017’ in Pakistan.
The award goes to the firm that has demonstrated excellence in its initiatives and achievements while providing viable financial solutions to its customers. Meezan Bank has been recognized for going from strength to strength in recent years and for focusing on a strategy deliberated on financial inclusion, effective cost management and product and service innovation. Through various initiatives, the Bank has played a pivotal role in accelerating the formalisation of the Pakistani economy, a factor that has made a significant contribution to the Bank’s recognition as the Best Islamic Bank for 2017.
In addition, Meezan Bank has also participated in a number of syndicated lending deals that have raised the profile of Islamic finance in Pakistan over the said period. Lastly, Meezan Bank’s recognition also incorporates its role in benefiting Pakistan’s capital markets through its expertise in Shariah-compliant finance, particularly for providing re-composition services for the Pakistan Stock Exchange’s two Islamic indices – the All Share Islamic Index and Karachi Meezan Islamic 30 Index. The indices were launched with the assistance of Meezan Bank and it is the only lender in Pakistan to provide re-composition services.
The Banker’s recognition of Meezan Bank’s outstanding work and contributions further manifests bank’s continuous commitment to strive for excellence in Islamic banking in Pakistan.