A Review On Meezan Bank

[Gill1]

Dubai Islamic Bank

INTRODUCTION:

The Dubai Islamic Bank (DIB) is an Islamic bank in Dubai, established in 1975 by Haj Saeed Bin Ahmed Al Lootah. It is the first Islamic bank to have incorporated the principles of Islam in all its practices and is the largest Islamic bank in the UAE

HISTORY:

Established in 1975, Dubai Islamic Bank is the largest Islamic bank in the UAE by assets and a public joint stock company listed on the Dubai Financial Market. Spearheading the evolution of the global Islamic finance industry, DIB is also the world’s first full service Islamic bank and the third largest Islamic bank in the world. The Bank currently operates 90 branches across the UAE, is present in seven markets worldwide and is expanding its global footprint to further grow and develop the industry. Serving close to 1.7 million customers, DIB offers its growing consumer base an increasing range of innovative Sharia compliant products and services.

[Gill1]

Meezan Bank

INTRODUCTION:

Meezan Bank is the largest Pakistani Islamic commercial bank which is a subsidiary of Kuwaiti company Noor Financial Investment. The Bank is headquartered at Meezan House in Karachi, Pakistan. It has a network of over 760 branches in more than 220 cities of Pakistan. It commenced operations in 2002 when State Bank of Pakistan issued the first-ever license for Islamic commercial banking.
The bank has a market share of 35% in the Islamic banking industry of the country.

HISTORY:

In 2002, Meezan Bank acquired Pakistan operations of Société Générale.
In 2014, Meezan Bank signed an agreement with HSBC Bank Middle East to acquire HSBC's Pakistan operations consisting of 10 branches. In 2015, Meezan Bank acquired Pakistan operations of HSBC Oman consisting of a single branch.

[Pak3000]

A review On Meezan Bank

Meezan Bank (Urdu میزان بینک) is the largest Pakistani Islamic commercial bank which is a subsidiary of Kuwaiti company Noor Financial Investment. The Bank is headquartered at Meezan House in Karachi, Pakistan. It has a network of over 760 branches in more than 220 cities of Pakistan. It commenced operations in 2002 when State Bank of Pakistan issued the first-ever license for Islamic commercial banking.

History

In 2002, Meezan Bank acquired Pakistan operations of Société Générale.
In 2014, Meezan Bank signed an agreement with HSBC Bank Middle East to acquire HSBC's Pakistan operations consisting of 10 branches.In 2015, Meezan Bank acquired Pakistan operations of HSBC Oman consisting of a single branch.

[jindon]

Bank functions

Support payment mechanisms
In addition to providing funds, banks also function as intermediaries to support transaction mechanisms in the community. Services offered to support this function include transferring funds between domestic accounts, providing credit payment facilities such as credit cards, bill payment services, electronic payment systems, means of channeling employee salaries or other income.


Supports international transactions
Banks are needed to expedite international transactions. Transaction difficulties due to differences in geography, distance, culture and monetary systems between two parties of different countries will always be present. The presence of a bank will make these transactions easier, faster, and cheaper. Banks help through foreign currency exchange services or overseas fund transfers for international transactions.

[Gill1]

Meezan Bank is the largest Pakistani Islamic commercial bank which is a subsidiary of Kuwaiti company Noor Financial Investment. The Bank is headquartered at Meezan House in Karachi, Pakistan. It has a network of over 760 branches in more than 220 cities of Pakistan. It commenced operations in 2002 when State Bank of Pakistan issued the first-ever license for Islamic commercial banking.

The bank has a market share of 35% in the Islamic banking industry of the country.


HISTORY:

In 2002, Meezan Bank acquired Pakistan operations of Société Générale.

In 2014, Meezan Bank signed an agreement with HSBC Bank Middle East to acquire HSBC's Pakistan operations consisting of 10 branches.

In 2015, Meezan Bank acquired Pakistan operations of HSBC Oman consisting of a single branch