Newsletter Jun 09 Old

7/31/2019 Newsletter Jun 09 Old

1/20

MEEZAN

NEWSLETTERAPR-MAY-JUN2009

Inside 03 Inauguration ofConsumerBankingCentre 10 MeezanBankcrosses81.6BillionRupeesinDeposit 16 InterviewwithMr.OmerSalimullah,Manager,ADC03 MeezanBankRankedAmongstTheWorld'SBest

IslamicFinancialInstitutions-2009 09

NewBookletsintroduced onTopicsofIslamicShariah 14 MeezanBank's166BranchNetworkAvailableonGoogle

MapMaker 18 MeezanBankDepositMobilization Campaign

The launch of Meezan Labbaik symbolizesMeezanBank'sdedicationtowardsprovidingShariah-compliant productsandservices.Meezan Labbaik provides Muslim pilgrimsthe opportunity to perform Hajj & Umrahwithcomfortatanaffordablecost,whilethebank takes care of all arrangements andtravelformalities. Selected well-reputed travel-agents havepartnered with Meezan Bank to ensure thatcustomersreceivethebesttravelpackagesateconomical prices. Keeping customerconvenience as a priority, customers mayvisit any of the 166 Meezan Bank brancheswhere the officer will assist in every stepfromVISAprocessingandticketingtohotelreservationandtransportation. The product was lunched in ceremony onMonday 22nd June 2009. The President &CEO, Mr. Irfan Siddiqui, and the COO,Ariful Islam introduced the product. TheProduct Manager of Meezan Labbaik, Mr.Fahim Siddiqui, briefed the audience aboutproductanditskeyfeatures.Addressingtheaudience,Dr.ImranUsmani,(ShariahAdvisor),saidthatthelaunchingofMeezan Labbaik is amongst the Bank'sobjectivestoprovidepersonalizedservicesbymeansofIslamicfinance.Mr. Ahmed Ali Siddiqui, Executive VicePresident, Product Development andShariah Compliance, addressed the queriesofjournalistsandmediapersonnel.

By:OwaisAhmedSiddiquiSeniorOfficer,ProductDevelopment&ShariahCompliance

MeezanBankLaunches

LABBAIK


2/20

MEEZANBANK

MessageoftheCOOWe have completed the first half of the year 2009,Alhamdulillah,andyourBankcontinuestoperformwellunderthegivencircumstances. Theeconomicoutlookisdifficult,withlowGDPgrowthrateandhighinflation,buttheAgricultural Sectorcontinuestoperformverywellas a result we have been able to sustain the negativegrowth experienced by the manufacturing sector. Ouroutlookforthesecondhalfoftheyearremains'cautiouslyoptimistic';thestockmarketshaveshownsomesignsofrecovery and the political scenario also appears to besteadyforthemoment.Thefinancialcrisisthattheworldhaspassedthroughandisstillexperiencinghasmadeusrealizethatonlytheefficientandwell-managedbankswillsurviveandsucceedinthetimesaheadanditisuptousas a team to collectively work towards maintaining ourposition as leaders, both in our cause and in IslamicBanking.Alhamdulillah,weachievedourtargetofexpandingournetworkto166branchesin2008andwillInsha'Allahcontinueonthispathofgrowthintimestocome.Theinvestmentinthebranchnetworkisnowpayingdividendsand contributing strongly in deposit mobilization. OurdeposithasnowcrossedRs.81billion,anincreaseof14%overtheDecember312008figure.IwouldliketothanktheentireMeezanBankTeamandespeciallytheBranch

Bankwillhavetofocusonthispriority. Smallsavingsaddup,sonomatterhowinsignificantthesavingmayappearyoumustoptforit.Atthesametimewewillhavetofindwaystoincreasebusinessandtransactionvolumewithoutanycorrespondingincreaseinourheadcountoroverheadcosts.Focus on technology is a key part of our strategy. Theimplementationofournewcorebankingapplication-T-24ismakinggoodprogress. Alhamdulillah,fivebrancheshavegoneliveandworkonotherbranchesisprogressingasperourschedule.Lastly,Iwouldreiteratetheimportanceofservicequality.Organizations that lack the focus of delivering superiorservicetotheircustomersdonotsurviveforlonginthemoderncompetitiveworld;andthosethathavethisfocusbecomeleadersintheirfield.Iamhappytoacknowledgethatwiththecollectiveeffortandcontributionofallstaffwehavemadesignificantstridesinthisarea.However,thisisonlythebeginningandifwebecomecomplacentwewillfallbehindourcompetitors. Effectiveservicequalityisafunctionofourdesireandwillingnesstogivethe'best'service.Againthisisacollectiveeffortanditisuptotheseniorstocoachandmentorthosemorejuniortoimpressuponthemtheimportanceandneedforservicequality.

BankingTeamforthisachievement.LetusworktogethertomakeMeezanBankthebestand

AsIhavebeenemphasizinginthepreviousnewsletters,ourfocusoncost-controlshouldnotwaversinceinthepresent economic scenario, controlling costs is asimportant

as

generating

business

for

improving

bottom-

lineprofitabilityandeverysingleteammemberofMeezan

EditorialTeamChiefEditor: SohailKhanEditor:HafidhJamaluddin

mostefficientbankinPakistan.JazzakAllahKhair.Ariful

Islam

Ifyouhavetheflairforwritingandyouwanttoshareyourthoughtswithuswewouldlovetohaveyouonboard.

02Creative:CreativedgeCommunicationsAPublicationofMeezanBankMarketingMeezanBank-HeadOffice2ndand3rdFloorPNSCBuilding,M.T.KhanRoad,Karachi,Pakistan.Phone:(92-213)5610582

FeelfreetowritetousorsendusyoursuggestionsandfeedbackEmail:[email protected]

isalsoavailablefordownloadat:www.meezanbank.com/newsletter.aspx

Fax:(92-213)5610375Website:www.meezanbank.comEditor'sNote

,MeezanBank'sfirstprintednewsletterisdedicatedtoyou,thepeopleofMeezanBank!The recent achievements of Meezan Bank that have been covered in this newsletter have been possible onlybecauseofyourdedicationandhard-workanditisonlyyourdevotionandeffortsthathavebroughtMeezanBankamongtheranksoftheWorld'sBestIslamicFinancialInstitutions.Thisisthefirsttimethatwearebringingoutthenewsletterintheprintedform.Thishasbeendonetoincreasetheaccessibilityofthisdocumentsothatouraspirations, successes,challengesandachievementscanbesharedwitheachmemberoftheMeezanteam.

-Ed


3/20

SLAMICFINA

BE

MEEZANBANK

ARDS20009

AWCIALINSTITUTIO

2009

NMeezanBankRANKEDAMONGSTTHEWORLD'SBESTIslamicFinancialInstitutions

Ranked amongst 'The World's Best IslamicFinancial Institutions 2009', Meezan Bank hasbeen titled by Global Finance (magazine) theBestIslamicFinancialInstitutioninPakistan.Selected for its contribution to the growth ofIslamic Financing and successful meeting ofcustomer needs for Shariah CompliantProducts,MeezanBankhaslaidthefoundationsfor fast growth of the Islamic Banking IndustryinPakistan.

StaffHajj&UmrahPolicyThe Staff Hajj & Umrah Policy facilitates andprovides an opportunity for employees to performthe holy rituals via special packages and paymentoptions.All employees of the Bank are eligible, along withtheir spouse and blood relatives, to apply for thespecial packages of Labbaik Travel Aasaan, fullpayment plan. Regular and confirmed employeeswithtwoyearsofcompletedservicemayapplyfortheInstallmentplanandpayininstallmentsofupto18monthswithaminimumdownpaymentof10%oftheselectedpackagecost.Incaseofthelatteroption,

Growth in assets, profitability, geographicreach, strategic relationships, businessdevelopment,innovationinproductsandtheopinions of equity analysts were taken intoconsideration in the ranking of the bestIslamicfinancialinstitutionsoftheworld."The winning banks were all noteworthy in theirdedication to satisfying their customers' need inaccordancewiththerulesofIslamicFinance".-JosephD.Giarraputo,Publisher,GlobalFinance

paymenttothirdpartieswhichwillbewaivedofffortheemployees.Alternatively, employees may choose to take benefitfromLabbaikSavingAasaanfortheirUmrah&Hajjwheretheywillbeentitledforprofitonthedepositedamount in the account thus providing a biggerincentivetosavefortheholyrituals.Special packages for the staff will be announced byMeezanLabbaikUnitfromtimetotime.ThispolicycameintoeffectshortlyafterthelaunchofMeezanLabbaiktothepublic.

the Bank may incur some additional costs forINAUGURATIONOFCONSUMERBANKINGCENTRE

The inauguration of Meezan BankConsumer Banking Centre highlightedthe newly structured Consumer BankingDepartmentsetupearlierthisyear.HousedattheConsumerBankingCentrethe departments under Mr. MohammadRaza,HeadofConsumerBankingincludeLiabilitySales,CarIjarah,EasyHomeandCollectionandRecovery.Located in Karachi, the inaugurationceremony was attended by the CEO,COO, Departmental Heads andRegional/AreaManagers(South). Attheoccasion Mr. Raza expressed hisconfidence in the new structure withexpectations to bear fruits of successwithin a short span of time with thecontinuous effort of the team and thesupportandguidanceofthemanagement.

03


4/20

MEEZAN

BANK

Pak-QatarFamilyTakafultoprovideTakafulCoverto

MEEZANBANK'SCUSTOMERS!

MeezanBankLtd.andPak-QatarFamilyTakafulLtd.(PQFTL) have signed an agreement whereby allcustomers of Meezan Bank's Housing Finance (EasyHome)willbeprovidedwithShari'ah-Compliant LifeTakaful Coverage. Mr. Irfan Siddiqui, President &CEO, Meezan Bank Ltd and Mr. P. Ahmed, CEO,Pak-Qatar Family Takaful Ltd. signed the Takaful

Mr.P.AhmedsaidthatPak-QatarFamilyTakafulhasthe financial strength and expertise to safeguardinvestmentsandmeetthelong-terminvestmentneedsof the people in Pakistan. We are rapidly expandingour distribution network in order to achieve ourvision of providing financial protection to everyone,throughTakaful,headded.

Agreement.Pak-Qatar Family Takaful, the pioneering of Family

According to the agreement, all housing financecustomers of Meezan Bank will be providedcomprehensiveTakafulthatwillcovernotonlylifebutalsoaccidentalandnaturaldisability.

Takaful Csompany in Pakistan, is sponsored byleadingfinancialinstitutionsintheStateofQatarandFWUAG.TheCompanyhaswidegeographicalreachintheCountryandisquicklygrowinginitscorporate

04 Speakingontheoccasion,Mr.IrfanSiddiquisaidthatMeezanBankhasalwaysfocusedoncomingupwithHalalRiba-FreeProductsandinnovativefacilitiesforits customers and the Takaful arrangement withPQFTL is another step in the direction of makingIslamicBankingthebankingoffirstchoice.Mr. P. Ahmed, CEO Pak-Qatar Family Takaful Ltdsaid that they were delighted to sign the Takafulagreement with the Country's pioneering IslamicBank,whichwillpavethewayfornumerousbenefitsfor its customers. He said that Pak-Qatar FamilyTakaful is always looking for ways to provide valueaddedproductstothepeopleofPakistan. "ByjoininghandswithMeezanBankwewouldbeabletoreachout to many people who would otherwise not havehad the benefit of a customer centric and Shari'ah-compliantriskmitigationtool."

andindividualcustomerbase.


5/20

MEEZANBANK

AGREEMENTWITHUTILITY BILLS PAYMENTMeezanBankhasenteredintoamajorcustomerfacilitationagreementwithMNETServicesPvt.Ltd that would facilitate its customers inpaymentofUtilityBillsonMeezanBank'sATMNetwork.The agreement was signed by Ariful Islam,COO,MeezanBankLtdandMr.AdilShabbir,CEO, MNET Services (Private) Ltd at MeezanBank'sHeadOffice.

Mr. Adil Shabbir said that MNET Services(Private) Ltd is very pleased to sign thisagreement with Meezan Bank. He said thatMNET would continue to support MeezanBank in its pursuit for providing technology-basedservicestoitscustomers.

This service will be available at more than 140MeezanBankATMscountrywideandcustomerscanenjoythefacilityofpayingtheirUtilityBills24hoursaday,7daysaweek.Speaking on the occasion, Ariful Islam, thatMeezan

Bank

is

striving

hard

to

facilitate

its

customers with the best available value-addedservicesandthisagreementwithMNETisasignofourcontinuouseffortsandcommitment.

CASH MANAGEMENT SERVICES AGREEMENT SIGNED WITHHAMDARD LABORATORIES

HamdardLaboratories,whoarealready banking with MeezanBank, have now furtherstrengthened their relationship with the bank by utilizing itsCash Management Services,under which Meezan Bank,using its Online Services andlarge branch network, willmanage the entire deposits andpayments workload with thedealers and clients of HamdardLaboratoriesacrossPakistan.Meezan Bank and HamdardLaboratories are alsoconsidering

the

possibility

of

installing Meezan Bank's ATMsatHamdard'sfactorypremises.MeezanBankLimitedandHamdardLaboratories(Waqf)PakistansignedanagreementunderwhichMeezanBankwillprovideCashManagementServicestoHamdardLaboratories.Mr.IrfanSiddiqui,President & CEO, Meezan Bank Limited and Ms. Sadia Rashid, Chairperson, HamdardLaboratories(Waqf)Pakistansignedtheagreement.Speaking on the occasion, Mr. Irfan Siddiqui, said that this agreement shows that businesses inPakistanarecognizantofthefastchangingtrendsintheBankingIndustryandarere-evaluatingtheirbusinessstructurestoprovidetheircustomersexcellentservicesinaShariah-Compliant manner.HesaidthatthisalsoreflectsontheimmensegrowthpotentialintheIslamicwayofdoingbusiness.

05


6/20

MEEZA

NBANK

signs

MeezanBanktakespartinWHEATPROCUREMENTFINANCINGFOR

GOVERNMENT

OF

PUNJAB

The signing ceremony for Wheat ProcurementFinancingtoGovernment ofPunjabbetweenMeezanBank,AlBarakaIslamicBankandBankofPunjabisthe first time that Islamic Banks are taking part inWheatFinancing fortheGovernment. MeezanBankwillfinanceamajorshareoftheRs.3billioninthe

FoodDepartmentandSeniorManagementofMeezanBankLimited.ParticipationinthisfacilityispartofMeezanBank'svisionofprovidingthebenefitsofIslamicBankingtoall sectors of the economy and this is the first time

consortiumorganizedbyBankofPunjab. that Islamic-Shariah-Compliant Financing has beenprovided to the Government for procurement of

ThePresidentofBankofPunjabattendedthesigning wheat.ceremony along with the signatories of the Punjab

MeezanBank TRADEACCORDWITHASIANDEVELOPMENTBANKMeezanBankDevelopmenrecentlysignAccordinorfacilitate theofLettersofUndertheagreementthDevelopmenwouldindire

kLetterofCredit.ADBasaguarantorforimportPakistanibusinessmen,

ngPakistanitradehefacilitywouldprovidesupporttoPakistanithesechallengingtimesfor

onomy.ntwassignedbyMr.M.n,RegionalManager-NorthtafaRabbani,AreaManager,behalfofMBLandMr.ADB'sCountryDirectorfofADB.

06 MeezaHostsMeetingforIslamicInterbankPlacementProductsA major milestone has recently been achieved byIslamic Banks towards development of an Interbank Islami,DubaiIslamicBank,EmiratesGlobalIslamicBankandFirstDawoodIslamicBank.MarketforIslamicBanks.

After careful deliberation, standardized agreements -Meezan Bank, recently hosted a meeting of ShariahAdvisorsandProductDevelopmentexpertsofallfullfledgeIslamicBankstodecideuponthemechanismforInter-bankplacementamongstIslamicBanksandtomovetowardsthedevelopmentofanIslamicInter-bankMarket.The Meeting was attended by Shariah Advisors/ProductDevelopmentHeadsofMeezanBank,Bank

namely Interbank Musharaka and Interbank WakalaAgreements - were finalized and it was agreed thathenceforth only these standard contracts would beusedbytheIslamicBankingIndustry.Thisachievementisanimportantmilestonetowardsdevelopment of Inter-bank Market for Islamic BanksandwouldpavethewayforthelongawaitedIslamicbenchmarkrateasanalternativetoKIBOR.


7/20

MEEZANBANK

14

Meezan Bank's Annual ReportRATEDAMONGSTTOP5ANNUALREPORTSOFTHEFINANCIALSECTOR

The Joint Committee of Institute of CharteredAccountants of Pakistan (ICAP) and Institute of Cost &Management Accountants of Pakistan (ICMAP) hasawardedMeezanBank'sAnnualReport2008theprizeofbeing the fourth best corporate report in the BankingSectorataCeremonyheldatKarachiinJune2009.The aim of the Best Corporate Report Award is to giverecognitiontoexcellenceinannualcorporatereportinginorder to promote corporate accountability andtransparency through timely, informative, factual andreader-friendly annualreports.TheBestCorporateReportAwardisconferredtothebestfiveannualreportsinselectedsectorseachyearbyaJointCommitteeofICAP&ICMAP.

MEEZAN BANK AND TAKAFUL PAKISTANSIGNAGREEMENT!

MeezanBankandTakafulPakistanhaveenteredintoanagreementwherebyallcustomersofMeezanBank'sLabbaik (Hajj and Umrah) deposit product will beprovided Shariah-compliant credit Takaful coverage.Mr.IrfanSiddiqui,President&CEO,MeezanBankLtd and Capt. Jamil Akhtar, CEO Takaful PakistanLtd.signedtheagreement.Undertheagreement, allLabbaik installment customers that have performedHajj or Umrah will be provided credit Takafulcoverageatveryspecialrates.

Speakingontheoccasion,Mr.IrfanSiddiquisaidthatMeezanBankhasalwaysfocusedoncomingupwithRiba-free products and innovative facilities for itscustomersandthearrangementwithTakafulPakistanis another step in the direction of making IslamicBankingthebankingoffirstchoice.Capt.JameelCEOTakafulPakistanLtdsaidthathewasdelightedtosigntheTakafulagreementwiththecountry's leading Islamic bank, which will pave thewayfornumerousbenefitsforitscustomers.

Incaseofnaturaldeath,accidentaldeath,permanenttotal disability or insolvency of a Labbaik customerhis/her outstanding installments will be paid byTakafulPakistan.

thSHARIAHSUPERVISORYBOARDMEETING

The14thShariahSupervisoryBoardmeetingofMeezan SeveralimportantmatterswerediscussedintheMeeting

07

BankLimitedtookplaceattheDarulUloomKorangi,Karachi.TheMeetingwaschairedbyJustice(Retd.)MuhammadTaqi Usmani and the other members of the ShariahBoardincludingMr.SheikhEssamM.Ishaq(Bahrain)and Dr. Muhammad Imran Usmani. The SeniorManagementofMeezanBankincludingChiefOperatingOfficer, Mr. Ariful Islam and President & CEO, Mr.Irfan Siddiqui and other team members were alsopresent.

including introduction of new Shariah-compliantproducts and services. The Shariah Board praised theperformanceoftheBankandshowedoverallsatisfactionon the Shariah-Conformity of the products, overallbusinessandtransactionsoftheBank.Later, Mr. Sheikh Essam addressed the SeniorManagementofMeezanBankanddiscussedwiththemvariousissuesregardingIslamicBankingandFinance.


8/20

MEEZANBANK

&

MEEZANBANKISSUESSHARIAHCOMPLIANCECERTIFICATETOUNITEDSALES(PVT).LTD.

Meezan Bank has restructured the internal andexternalprocesses,documentationandproceduresofthe installment sale business of United Sales (Pvt.)Ltd. (USL) to make them Shariah compliant. In aceremony held at a local hotel today, Meezan BankLtd issued Shariah Compliance Certificate to USLand from this point onwards, USL will have itsinstallmentsaleoperationsunder'Diyanat Financing'whichinvolvessaleofUSL'smerchandise ondeferredpayment (Bai Muajjal) to be fully compliant withIslamicShariahprinciples.

manner. He said that this also reflects the immensegrowthpotentialintheIslamicwayofdoingbusinessand the very positive trend of knowledge sharing byexperienced players with the new entrants. MeezanBank's Islamic Finance knowledge and expertisewould enable USL to earn good Halal returns. Heinformed that Meezan Bank is Shariah Advisor toalmost all the Islamic Mutual Funds working in thecountry and that this is the first time a businessoutsidethecorebankingsectorhasrequestedMeezanBank to restructure their business according toShariahprinciples.

Under the arrangement, Meezan Bank will providecontinuous guidelinestoUSLforcomplyingwiththeprinciplesofShariahandwillalsoconductanannualShariah Compliance Review of the processesimplemented by USL to ensure that the installmentsales activities of USL are conducted in accordancewiththeprinciplesofIslamicShariah.Speaking on the occasion, Mr. Irfan Siddiqui, saidthatthisagreementshowsthatbusinessesinPakistanare cognizant of the fast changing trends in theIndustry.Theyarerevampingtheirbusinessstructuresaccording to Shariah principles to provide theircustomers with best services in a Shariah-compliant

MeezanBankRe-introducesCourseof

IslamicBanking FinanceatAlhamdolillah,IslamicBankingandFinanceCourse thewholeCourseespeciallyinresearchreportwritinghas once again been introduced in Institute of andassignments. Business Administration (IBA) and the first Coursewas completed in May 2009 (Spring Semester, fromJanuary2009)afteragapofalmostthreeyears.The Course was conducted by Mr. Ahmed AliSiddiquiEVP-PDSCMeezanBankLimited,andhewas assisted by Mr. Fayyaz ur Rehman Khan - AVP

The offering of the Course was due to thecooperation extended by Dr. Qazi Masood of IBAand Dr. Ishrat Hussain, the Director of IBA. FromMBL,Mr.AhmedAliSiddquiandFayyazurRehmanKhan along with Mr. Sohail Khan - Head ofMarketing and Training were instrumental in re

08 PDSCandMr.FarhanulHaqUsmani-AVPPDSC.ItisworthmentioningherethatalthoughtherestofthecourseshadalreadybeenofferedweeksbackandIslamicBankingCoursewasofferedlatei.e.onlyonthelastdayofregistrationforstudentsofIBAtotakeup the Course, yet 21 students registered for theCourse on this short notice. This shows theenthusiasm and keenness of the students in IslamicBanking Course and in knowing Islamic BankingIndustryasawhole.The Course was attended keenly and the level ofenthusiasm was such that not a singleparticipant/student(oftotal21students)droppedoutof the Course and the students put great efforts in

introductionofIslamicBankingCourseinIBA.Fromnowonwards,InshaallahthiswillbearegularfeatureatIBA,ThenextcoursewillbeofferedinFallSemester 2009. Efforts are under way to introducemorecoursesatIBAonIslamicBanking&Finance.It is also worth mentioning that currently IslamicBanking Courses are being offered in CBM, PAFKIET, IBA Sukkur and other leading universities ofthe Country. Efforts are underway to introduce fullfledged MBA in Islamic Banking & Finance in theleadinguniversitiesofPakistan.MayAllahhelpandguideusinthisendeavor.

By:FayyazUrRehmanKhanAssistantVicePresident,

ProductDevelopment&ShariahCompliance


9/20

MEEZANBANK

Seminarheldon

NEW BOOKLETSINTRODUCEDONTOPICSOFISLAMICSHARIAH

AnextremelyimportantcontributionofPDSCistheintroduction of various booklets on specific topicsreatingtoIslamicShariah.

can be gauged from the facts that so far around35,000 copies of the booklets have been distributedthroughoutPakistanfromMBLBranchesandHeadOfficeandtheyarestillverymuchindemand.

Sofar,twobookletshavebeenpublishednamely:1.IslamiBankariKaaAikTaaruf2.GuidetoZakahUnderstanding andCalculationThethirdbookletisinthefinalstagesofcompletionandwillbeabout"HowtoperformUmrah".Workonfourthbooklethasalsobeeninitiatedanditwillbe

These booklets have been the special efforts of Dr.ImranUsmani,MuftiBilalQaziandwereassistedbyFayyaz ur Rehman Khan. The Zakah booklets havealso been made available in PDF format on thecorporatewebsiteandtheIslamiBankaribookletwillalsobeavailableinJuly2009.

outbeforeShawwalthisyearInshallah.ItisnowthedutyofeverymemberofMBLtobefully

ThepurposeofthesebookletsistocreateawarenessaboutvariousaspectsofIslaminaveryclear,conciseand

interesting

manner,

in

order

to

enable

the

fellow

Muslim brethren to follow Islam in the mostrighteousandtruemanner.

awareaboutthecontentsofeachofthesebookletsinorder to have a better understanding about Islamicbanking

and

other

aspects

of

Islam.

May

Allah

accept

thishumbleeffortofoursandhelpinstrengtheningthebondbetweenMuslimsandbetweenIslamanditsfollowers.

The booklets have been very successful and verymuch in demand. The popularity of these booklets By:FayyazUrRehmanKhan

AssistantVicePresident,ProductDevelopment&ShariahCompliance

AWARENESSOFISLAMICBANKINGMeezan Bank arranged a seminar at the "PakistanCentral Homeopathic Medical College Auditorium" inKarachionthe26thofJune2009,forthecreationofawarenessandpromotionofIslamicBanking.The Seminar, organized on request of the arearesidents was attended by approximately 500including salaried persons, businessmen and invitedmembers of the Hamdard Laboratories WaqfPakistan.

Addressing the attendees Mr. Mateen Mahmood,Area Manager, Mr. Ahmed Ali Siddiqui, Head ofProduct Development and Shariah Compliance, Mr.Mohammad Raza, Head of Consumer Banking andMr. Shoaib Quershi, General Manager CommercialBanking,discussedIslamicbankingandrespondedtothequeriesoftheparticipantsaboutIslamicBanking.Based on the encouraging feedback from attendees,similarseminarswillInsha'AllahbeheldatlocationsthroughoutPakistan. By: MateenMahmood

AreaManager,Karachi09


10/20

MEEZAN

BANK

81.6

ONBankTEMENOST24COREBANKINGAPPLICATION

Khayaban-e-Seher Branch of Meezan Bank LimitedbecamethefirstBranchtocommenceLiveoperationson Temenos T24 Core Banking Application onMondayMay4th,2009.TheBankplanstomigrateallof its Branches with full Islamic functionality ontoT24. Mr. Irfan Siddiqui, stated at the occasion that

NationalDataConsultant(NDC),thelocalpartnersor Temenos, are facilitating the implementation ofT24 at Meezan Bank. Mr. Navaid Kareem, VicePresident Sales & International Business for NDCsaidthatitwasanauspiciouseventandanhonorforNDCtosuccessfullyimplementT24atMeezanBank.

theBankiscommittedtoinvestingintechnologytoensurearobustandsecurebankingplatforminlinethe vision of the Bank. The new system will allowsmooth running of operations and to support theenvisioned growth of the bank. Mr. Ariful Islam,elaboratedthatmigratingtoT24wouldalsoprovideus an excellent opportunity to improve, streamlineandre-engineerourexistingprocessesbyadoptingtheBestBankingPracticesembeddedinthesystem.

MeezanBankcrossesBILLIONRUPEESINDEPOSIT

AlhamdolillahtheteamofMeezanBankhasonceagainprovedthattheyareabletocrossanybarwhichissetforthem.StartingthisyearwithRs.70bndeposit,wehadsetatargettoclosethehalfyearatRs.81.2bnandbythegrace of Allah Subhan'o'Tallah we have surpassed ourtargetandclosedatRs.81.6bn.IndeedamomentofgreatrejoicewhilelookingatthecurrentDepositfigureofoverrupees80billion.I, stillrememberwhenweclosedtheyear2003withadepositofRs.7.7bnandtheyear2004atRs.13.7bn,andtodaywe are looking forward to close the year with themilestone number of 100 Billion. By achieving thisdepositmilestone,MeezanBankwillstandamongstthetop10banksofthecountry.AllthankstoAllahSubhan-o-TallahforHisBlessingsandspecialregardstotheentireMeezanTeamfortheirdedicationandhardwork.

GivingcredittoentireBranchBankingTeamofMeezanBank.congratulationstoalltheRegionalManagers,AreaManagers, Branch Managers, Branch Controllers,Resident Managers, Operation Managers, Area SalesManagers,TeamLeaders,PersonalBankers&BusinessDevelopment Team. I believe these achievements areimpossiblewithoutteamwork.WeshouldcontinuethismomentumbyputtingalloureffortswithdedicationandcloseourFiscalYearwithaflyingnumbersbyleavingnostoneunturnedandeagerlyeyeon100Billionmagicnumberbythisyearend.Iamconfident that we will, Insha'Allah, continue thismomentumduringthemonthstocome.Iwouldliketothankeveryonewhohascontributedindepositsandamconfidentthatthisspiritwillcontinueinmonthstocome.

10By:MohammadRazaHeadofConsumer Banking

MeezanBank's

CREDITOUTLOOKUPGRADED

&KamranNational Sales

JCR-VIS Credit Rating Co. Ltd. (JCR-VIS) hasmaintained entity ratings of Meezan Bank Limited branches has been instrumental in facilitating thegrowthinretaildeposits.(MBL)at'A+/A-1'(SingleAPlus/A-One).

Low-cost deposit mix enhanced core earnings inThe medium long-term outlook has been upgradedfrom 'Stable' to 'Positive' in view of favorable trendswitnessedintheBank'sperformance.AspioneersofIslamicBanking,MeezanBankhascapitalizedonthefirst-mover advantage and built a strong franchiseamongst the masses, evident in the highest marketshare in terms of deposits in the Islamic BankingSector. The expansion in branch network to 166

FY08.Non-performingadvancesoftheBankareverylow and the quality of consumer lending has so farfaredbetterthanmostmarketplayers.Continuing to focus on key elements of risk anddrawing on experience, the management expects toachievegrowthinlinewithprojectedtargets.


11/20

MEEZAN

BANK

ONBUILDING

MeezanBankSUCCESSFULLYCOMPLETES

CERTIFICATIONMeezan

Bank

has

successfully

completed

VISA

CertificationmakingitthefirstBankinPakistantobe certified with VISA International for Debit cardservices with Avanza Solutions as a technologypartner.With a robust and technologically advancedinfrastructure backed by state-of-the-art electronicbanking channels, Meezan Bank is second to nonewhen it comes to providing convenience via reliableand efficient electronic banking channels includingATMDebitCard,InternetBanking,SMSAlerts,CallCenterandIVRetc.With an ever growing nationwide ATM network ofover 140 strategically located ATMs and a vastcustomer base of over 150,000 ATM/Debit card

holders,the

Bank

took

the

initiative

to

expand

its

horizons and provide its customers with the globalacceptabilityandpowerofVISA.The Launch of Meezan Bank VISA Debit programwasconsideredachallengesincesystemsprovidedbyAvanza Solutions such as NIMBUS (as an ATMSwitch)andRendezvous(asamiddlewaretoconnectto 1Link) needed to be VISA certified subsequentlyaddingtothescopeoftheproject.With the dedicated efforts of Avanza Solutions andoverwhelming support from 1Link, VISA (bothPakistanandAsiaPacific),MeezanBankandAvanzaSolutionsovercamethischallengeandbecameVISAcertifiedBankandTechnologyproviderrespectively.

By:MohammadAmjadKhanProjectManager,AlternateDistributionChannels

UPDATEHEADOFFICEFacts:GroundBreaking-10thFebruary2009StructureCompletionDate-30thSeptember2009CoveredArea-201,000SqFtFloors:Ground+5alongwithbasementExpectedCompletion Date-within18monthsofstartofconstruction Mr.ShahidAbdullah,ArchitectandInteriorDesignerwithIrfanSiddiqui&ArifulIslam

11February,2009 March,2009 April,2009

May,2009 June,2009 July,2009


12/20

MEEZANBANK

Customer Appreciation Days ContinueThroughouttheBranchNetwork

The idea when brought into implementation earlierthisyearwasararepracticeintheBankingIndustryadjudged

as

fine

marketing.

The

1st

round

of

this

activity brought mixed results and lot of learningpoints,butprovedworthwhile topromotetheMeezanBank brand name and the organization's dedication

faade.Visitingclientswereservedwithrefreshmentsandtheirfeedbackwastakenregardingthebankandits

services.

With

the

recent

launch

of

Meezan

Labbaik, a stall was set up to promote the uniquefinancing services for Hajj and Umrah as well. Thedaywasinauguratedbyavaluedcustomer.

toitsloyalcustomers.EventManagementTeamcomprisingofMr.Moazzam

On June 25, 2009 in the mid of sultry summerseason, the motivated team of Serena Hotel Branchhostedits"CustomersAppreciation Day".

Saeed,Mr.Ashfaq,Mr.Husnain,Mr.FarooqFaisal&other aspiring members of Marketing Departmentalong with Mr. Khalid, Mr. Saqib Khan and Mr.MuhammadIqbalworkedwithutmostdedication.

With the aesthetic theme of red, the branch wasdecorated with red carpets, lights, balloons andbranchnetworkbuntings.Flowerbasketsandfragrantenvironmentfurtherenrichedthebeautyofthewhole

Initiatives such as the Customer Appreciation Day,continuestobreedaculturethatisthehallmarkofaprogressiveorganization.

By:MuhammadAtharIqbalSerenaHotel,Branch,Faisalabad

WaterPumpBranch,Karachi

MeezanBankTAKESPARTIN'MYKARACHI'EXHIBITIONHELDATEXPOCENTER

MeezanBanktookpartinthe'MyKarachi'Exhibitionheld at Expo Center, Karachi between 5th and 7thJune2009.ThestallwasacenterofactivityduringtheeventwithrepresentativesofMeezanBankeducatingthe masses about the Bank and about Islamic

usagoodopportunitytotargetcustomerswhousuallydonotwalk-intoourBranches.Thelevelofinterestin Islamic Banking was immense among customers;this also helped in clearing doubts in the minds ofcustomers about Islamic Banking, especially due to

12 Banking. The 3-day event was attended by well over15000peoplefromwalksoflifeinKarachiandgave one-to-oneinteractionwithcustomers.

By:MohammadAdilSamiManager,Marketing


13/20

MEEZANBANK

InterBranchServiceCompetitionBoostsServiceLevelatBranchesNationwide

The "Inter Branch Service Competition" (IBSC) wasinitiated with the intention to perfect the qualitystandardsoftheservicesprovidedatbranchesandtocreatea'System-CentricCulture'.Inoureffortsofthepasttwoyears,thecurrentformatofthecompetitionhas matured and making it both competitive andchallenging.In the past, the Service Quality's Department'spractice has been to monitor the branch's monthlyperformancegivingacomparativeresultattheendofthe month. The best performers earned the title of"Service Champion of the Month". Striving towardsexcellence in services, we have recently introduced aTrophy to be awarded to the branch along with acertificateofexcellenceinservices.Attheendoftheyearthebestperforming branchwillearnthetitleof'ServiceChampionoftheYear'.

In the past, our practice with regards to the InterBank Service Competition has been to rate thebranches performance as per the marks acquired inthe ISMs with the highest scorer is given the title.However the intention is not simply to monitorperformance but rather to create a healthycompetitiontomotivatebranchestoperformattheirpeak. We now focus our attention to not onlyhighlighting the areas of needy of improvement butalsoprovidinganddiscussioncorrectionalmethodsofimprovingthequalityofservice.Having focused on identifying the number ofcustomersaffectedduetoserviceissuesatanybranch,weareworkingwithamindsetof'CustomerCare'sothat the Branch Managers and their team do theirbest to provide excellence in services to every bankcustomer irrespective of the branch and point ofcontact.

In our efforts we have tried to portray acomprehensivepicturetobranchesviareports,givinga detailed impression of the quality of the variousservices provided by each branch. The purposebehind this detailed report is to identify individualbranchesweakareasandtochalkdownastrategyforimprovement.

Aligned with vision of the organization with regardstoServiceQuality,weatMeezanBankarestrivingatattaining our goal of being recognized as 'The BestServiceProvidingBank-2011'.

By:MohammadAsadullahChaudryManager,ServiceQuality

SERVICECHAMPIONSMONTH SOUTH CENTRAL NORTHApril QasimabadBranch,Hyderabad CavalaryGroundBranch,Lahore MansehraBranch,MansehraMay P.E.C.H.SBranch,Karachi ShalimarGardenBranch,Lahore PeshawarRoadBranch,Rawalpindi

MansehraBranch QasimabadBranch,Hyderabad13

MeezanBankTakesActiontoFacilitateitsCUSTOMERSINSWAT

MeezanBankhasannouncedthatallitscustomersofSwat and Mingora who have been displaced by theongoingconflictintheregioncaneasilyaccesstheiraccountsfromanyof166branchesofMeezanBankin40citiesacrossPakistanfordepositandwithdrawalof

promptly and without any hindrance or delay. Thecustomers can also access their accounts throughInternet Banking and have access to Meezan Bank'sATM Network for withdrawal of cash form theiraccountsfromanylocationinPakistan.

cash.Providingthisfacilitytoitscustomersthathavebeen

According to Meezan Bank's Officials, the Bank hasmade special arrangements whereby customers ofMeezan Bank's Mingora Branch can present theircheque in any Meezan Bank Branch across Pakistanand the Bank would ensure that they get their cash

displaced from their homes and business areas is aproactive step by Meezan Bank for providing reliefandconveniencetoitscustomersandmarksanotherstep in moving towards its mission of establishingIslamicBankingasbankingoffirstchoice.


14/20

MEEZANBANK

MEEZANBANK'S166BRANCHNETWORKAVAILABLEON MAPMAKERMeezan Bank has successfully charted itsbranchnetworkof166branchesin40citiesonGoogleMapmaker.Each branch located on this virtual mapholdsitscompletebranchandcontactdetails.By utilizing this technology to assistcustomers locate their nearest branch fromtheirhome,officeoronthegoviaGPRSontheir mobile, the Meezan bank branchnetwork is now available at customer'sfingertips.By incorporating the mapmaker technologyon Meezan Bank's Corporate website(www.meezanbank.com), visitorswillsoonbeable to find the best route to a branch byspecifying theirlocationandthebranchtheywish to visit. The service helps locating abranchatcustomerconvenience,assistinginthe use of Online-branch-banking anywhereinPakistan."Pakistan actually ended up posting morethananyofthe160countriessimultaneouslyinthemapmakingexperimentinitiatedlastyearinJune"CIOPakistan-June6,2009.TolocateanyofMeezanbank's166branchestype"MeezanBank"inGoogleMapmaker(www.google.com/mapmaker).

By:HafidhJamaluddinAssistantProjectManager,Marketing

MeezanBank'sTrainingCentres(JUSTTOBRINGEVERYONEONBOARDONTHETRAININGFRONT)

By the grace of Almighty Allah, the TrainingDepartment is expanding by leaps and bounds andInsh'Allahwearecommittedtobeingrecognized forourtrainedstaffatMeezanBank.Currently the Training Center in Karachi has acapacityof40personnel,Lahorecenterhasacapacityof35,Islamabadacapacityof30andMultanhasacapacityof25personnel,withInsha'Allah Faisalabadhaving a similar setup in a short span of time.Equippedwithmultimediaprojectors,soundsystems,screens,presentation remotes,etc,thesefully

The challenge for the Training Department was toensure that the Bank gets the best ROI on thesefacilities. With our comprehensive training calendarinplaceforallregions,asofJuly1st,2009,allcenterswillInsha'Allahbeoccupiedaminimumof20daysinamonth.Thevarioustrainingsessionsforallourstaffmakeourinvestmentcost-effectiveandisanefficientuseofourresources.Givingcreditwherecreditisdue,thisinitiativewouldnot have been possible without the cooperation,supportandguidanceoftheRegionalManagers,the

14 equippedtrainingcentersareasignoftheseriousnessandcommitmentofthemanagementwhenitcomestoTrainingourstaff.

AreaManagersandourInternalTrainers.By:KhalidMaqsood

Manager,Training

TRAINTHETRAINERThe Training Department is very fortunate to haveourownInternalTrainerswithinMeezanBankacrosstheCountry.Ourtrainersaredoingatremendous jobin imparting the training that our staff needs.However,withexceptionofaselectedfew,almostallthe internal trainers are "Technical Trainers" dealingwith Shariah, Islamic Banking and relateddepartmentaloroperationalareas.SoftSkillsontheotherhand,havenotbeenseriouslyexplored.

Taking into notice that Soft Skill training is a veryimportantareaforprofessionalgroomingandculturalbuilding of the bank, the Training Department hastakenuptheinitiativestolineupExternalTrainersofSoft Skills for sessions at Meezan Bank. Having ourinternal trainers as the audience, to judge theeffectiveness, charisma, and adaptability of thesetrainers, select traininers will be negotiated with todeliversoftskillcoursesacrosstheregions.

By:KhalidMaqsoodManager,Training


15/20

MEEZANBANK

50

NationwideTrainingONALTERNATEDISTRIBUTIONSERVICES

The Alternate Distribution Channels (ADC) hasconsistently introduced new services and alsomodified existing services over that past three years.ServicessuchasSMSAlertsService,InternetBankingimproved registration process, phone banking andATM services, etc require adequate Training to begiven to the fast growing number of front-end-staffmembersofourexpanding branchnetwork.Earlierintheyearanationwide trainingwasinitiatedfrom Karachi (along with out-station branches ofSouthern Region) with subsequent training sessionsscheduledinLahore,MultanandIslamabad.The comprehensive training covered all theoreticaland practical aspects of ADC, product manuals forproducts and services, standard operating procedure(SOP),theroleofADCinthebankingindustry,thekey features and USP. Further the sessions helpedidentify and discuss the customer feedback andproblems faced by the back-end-office. The trainingsessions

would

additionally

promote

the

services

and

be mutually beneficial as those in the back officewould get valuable feedback from the staff memberswith direct customer contact. The session wasfollowedbyaquiztoassesstheoveralleffectivenessofthesession.TheADCTrainingSessionprovedtobeaworthwhileexperience,asthebranchresponseandservicequalityhas improved considerably at the branch end.Furthermore, the execution of correct escalationmethodologies and frequent coordination andcommunicationbetweenthebranchesandADChasreducedcomplaintprocessingtime.Thebestoutcomefromthesessionswasthecreationof competition between the regional Meezan Bankteamstoensuretheirregion'ssupremacyintermsofADC expansion and usage. Internet Banking andSMS Alert Service signups currently stand at an alltime high and are improving their records everymonth. Furthermore the ATM and Debit cardtransactionshavealsoincreasedconsiderably.

By:MohammadAmjadKhanProjectManager,AlternateDistributionChannels

TopscorersofthequizamongallthreeregionsName Branch City Marks Total GradeM.NawmanAamir GujarKhanBranch GujarKhan 50 50 AMuhammadAtif ChandniChowkBranch Rawalpindi 50 50 A 15WaleedAsghar MuslimTownBranch Rawalpindi 50 A

conductedin2009ListofTrainingCoursesMultipleTrainingsessionsofthefollowingcourseswereconductedacrosstheCountry.

TraintheTrainer AML/KYCRefresher CarIjarah/HousingRefresher PreventionofFraud&Forgery GeneralBankingRefresher(2Daycourse) ServiceHuddle&SoftSkillforSQCs PersonalBankingOfficerRefresher BusinessDevelopmentOfficerRefresher TraineeBatchRefresher

MeezanBankOrientation(3Days) IslamicBankingRefresher SoftSkillsforBranchReceptionist/Operators ATMBranchOperations AlternateDistributionChannels-BranchPerspective TradeFinance-Basics MBLLiabilityproducts BranchAuditIssues


16/20

MEEZANBANK

InterviewOmerSalimullahdiscussestheimportanceofAlternateDistributionChannelsanditscontinualroleinmakingMeezanBanka'TechnologicallyAdvancedBank'

Mr.OmerSalimullah,ManagerAlternateDistributionChannelsOmerSalimullahisaBBAinBusinessInformationSystems(BBIS)fromtheRoyalMelbourneInstituteofTechnology,Australia.

OmerwaspartofABNAMROBankPakistanfor4yearswhereheworkedinvariouscapacities.HeiscurrentlymanagingtheAlternateDistributionChannelsofMeezanBank.

16 WhatroledoesAlternateDistribution Channelplayinconsumerbanking? Aren't all the services provided by AlternateDistribution Channels already available at theBranch?

We live in a fast pace world where emergingtechnologies have transformed the way we live.Longer tasks can now be done within millisecondsefficiently withoutanyhassle.Itisessential forBankstokeepthemselvesupdatedtomeetthecustomerdemands.AlternateDistribution Channels,(ADC)playbothasupportroleaswellasactsasanindependentrevenuegenerating entity in consumer banking. TheimplementationisuptotheBank'spriorityofhowitwantstoplacethisfunctioninitssetup. Wehavea

ThebasicaimofAlternateDistributionChannelsisto offer convenient avenues to customer byestablishing cheaper channels of branch bankingservices where customers do not have to go to thebranch and wait in long queues, regardless of howminute the task may be. Branches can divert theircustomers to these less costly channels and reducebranchloadinordertoprovideexceptionalcustomerservicestohighlyprofitablecustomers.ArecustomerscomfortableusingADCservicesoverservicesprovidedwithinthebranch?

veryvibrantADCsetupwithasuiteof24/7products.I'll let the statistics do the talking. The recentelectronicbankingreportbyStateBankofPakistan


17/20

MEEZANBANK

showsthattheADCusagegraphhasbeenincliningconsiderably over the past few years. The story atMeezan Bank is no different than the rest, almostevery month, our management report, pertaining todifferent products and services, breaks all timerecords.What products and services does Meezan Bankcurrently provide under Alternate DistributionChannels?Currently,wehaveanationwide ATMnetworkof144ATMs to cater to the needs of more than 150,000Meezan Bank cardholders and also generate revenuevia card acquiring business. We provide SMS alertservice to our account holders, which received anoverwhelming responsesoonafteritlaunch.Wealsohavea24/7functionalCallCenterwithateamof11officers, working in three shifts in order to provideround the clock assistance. Phone banking servicesarealsoofferedviaInteractiveVoiceRecording(IVR)facility.WealsoofferfreeInternetbanking,anidealchoiceforourNonResidentsPakistanis andtechno-friendlycustomerstostayintouchwiththeirmultipleaccounts,wherevertheyare.Wehave24/7ATMDebitCard,whichisacceptedforcashatall1LinkandMNETATMsandatnationwidenetwork of ORIX Point of Sale (POS) terminals forcash-freeshopping.WehaverecentlycompletedMeezanVISADebitcardproject.VISAcardswillskyrockettheacceptabilityofMeezan card from currentlyjust 4,000 ORIX POSterminals to 30 million VISA outlets, all over theworld.Furthermore,alongwithall1LinkandMNETATMs,theCardcouldalsobeusedinternationallyat1.4

million

ATMs

with

VISA

Plus

logo.

Presently,

the

cardisinstafftestingphaseandwouldbelaunchedimmediatelyaftertheproceedingsareconcluded.WhatroledoestheCallCenterplayinADC?TheCallCenterisperhapstheoldestandanintegralpartofADCinMeezanBank.Itcaterstotheneedofboth existing and potential customers while alsoextend its consultancy for our nationwide branches.Our 24/7 Call Center provides branch bankingservicesandgenerateleadsforprospectivecustomers.

earn revenue via inter-switch transaction charges.Recent statistics have shown that 97% percent ofoverall ATM transactions are cash withdrawals, thenthereisalwaysthemarketingandpromotionthebankgetsviaoff-siteATMs,especiallyiftheyarelocatedatpublic places for example shopping mall, hospitalsandgovernmentbuilding. Alhamdulillah!Wehave9off-siteATMsinKarachi,LahoreandIslamabad.Along with ATMs, CDM (cash/cheque depositmachines),KIOSKetc.arealsoavailableandarebeingusedbysomeprominentbanksbutmainlyintestingphase. We are looking into these areas and areworking on the feasibility of such initiatives.InshAllah,youwouldseethemverysoon.People worry that Internet based financialtransactionsarenotsecure. WhyshouldcustomerslooktowardsInternetbankingfortheirbankingsolutions?I can say it without any hesitation that Internetbankingisfarmoresecurethanasreflected.Iwouldlike to emphasize on some of the key points ofMeezanInternetBanking:1. Meezan Internet banking has acquired SSLCertificatefromgloballyrenownedcompanyVeriSignto protect transactions and accounts fromunauthorizedaccess.2.Allinformationtransferredbetweenthecustomer'scomputer and Meezan Internet banking system isencryptedusing128-bitencryptiontechnology.3. Both Username and Password are encrypted & asecurefirewallhasbeenplaced.How willcustomersbenefit with VISAcardsoverthecurrentlyavailableDebitCard?Meezan VISA Debit card has opened new horizonsforMeezanBankcustomer.Presently,ourcardcanbeused to withdraw cash from 1Link and MNET'sapproximately 1500 ATMs in Pakistan. With VISA,our customers would access 1.4 million VISA PlusATMsglobally.As a Debit Card, the Card works on roughly 3,000ORIX POS terminals in Pakistan. As a VISA DebitCard,MeezanBankcustomerscanshopat40millionoutletsworldwidedisplayingVISAlogo.

Call Center also serves as an avenue forcomprehensive Islamic Banking information thatremovesanyambiguitythecustomermighthave.What is the reason behind aggressive expansion oftheATMnetwork?There were three major reasons behind the recentexpansion of the ATM network, our nationwidebranchnetworkwasgrowingrapidlyandthatmeantan increase of similar magnitude in the cardholderbase.Secondly,wewantedtomaintainourimageasatechnologically advance bank. The major reason wasthe feasibility of ATM acquiring business; almosteverymajorbankinPakistanofferATMcardtotheircustomer,beingamemberof1Linkswitch,bankscan

Also there are the withdrawal limits; there are twotypes of Meezan VISA Debit Cards, the Silver Cardand the Gold Card. With the Gold card, ourcustomerscanwithdrawPKR40,000cashperdayandcanshopworthPKR100,000dailywhichistwicethelimitofourcurrentATM/Debitcard.Whatnewservicesareinthepipeline?The list is never ending but some of the majorprojects are UBPS (Utility Bills Payment) and IBFT(Inter-Bank Funds Transfer) on all channels,implementinginternetKiosksinbranches,3rdPartyFunds Transfer, On-line Shopping and "Pay toAnyone" via Internet Banking, Meezan MobileBankingandPrepaidVISACardsetc.

17


18/20

MEEZANBANK

Branch

MeezanBankDepositMobilizationCampaignMeezan Bank's Deposit Mobilization Campaign, a

joint initiative of Consumer Banking and ProductDevelopment & Shariah Compliance Departmentsreceived an enthusiastic and overwhelming responseby

the

Bank

Employees.

The Campaign specifically for 'Non-Sales RelatedEmployees'generatedmorethanRs.1.4billioninsix

months, spread between approximately 2800 newaccountsandincreaseddepositsinexistingaccounts.A special congratulatory note to Mr.Shahid Hassanour

Tea

boy

who

showed

tremendous

performance

in

thisCampaign.

By:OwaisAhmedSiddiquiSeniorOfficer,

ProductDevelopment&ShariahComplianceName Award

Mr.ChahudhryTahirIqbal RaviRoadBranch,Lahore DiamondWinner-TwoComplete15DaysUmrahPackages

Mr.SaleemKhowaja HeadOfficeMr.SaifUrRehman GujranwalaBranch SilverWinner-CashRs.35,000.SilverWinner-CashRs.35,000.Mr.JavedAhmedMr.RanaMuhammadIrfanMr.MaazAsadKhanMr.UsmanHameedMelaMr.NasimGulAfridiMr.NaseerAhmedMr.MuhammadAfaqBasharatMr.MuhammadRafiMateenMr.MuhammadBilalNaeemMr.HafizIbrahimMr.FazalRahimKhan

JodiaBazarBranch,KarachiAzamClothMarket,LahoreI.IChundrigarRoadBranch,KarachiSargodhaBranchNewChalliBranch,KarachiSargodhaBranchCircularRoadBranch,FaisalabadSITEBranch,KarachiSargodhaBranchDHABranch,LahoreDeraIsmailKhanBranch

TwoEconomyClassReturnTicketstoAnyDestinationinPakistanPlasmaTVwithGiftPack.OneEconomyClassReturnTickettoDubai.OneEconomyClassReturnTickettoDubai.OneEconomyClassReturnTickettoDubai.OneEconomyClassReturnTickettoDubai.OneEconomyClassReturnTickettoDubai.OneEconomyClassReturnTickettoDubai.OneEconomyClassReturnTickettoDubai.OneEconomyClassReturnTickettoDubai.OneEconomyClassReturnTickettoDubai.

SpecialthankstoMr.KamalHussainoftheI.T.Department,HeadOffice,forhiscontributionintheCampaignDataManagement.

MeezanBank

Qualifies

for

SEMI-FINALINDANYALCUP2008-2009

18

MeezanBank'scricketteamhasconsistentlyoutplayeditscompetitiontoreachtheSemi-finalsoftheDanyalcup 2008-2009. With comfortable wins over BankIslami-BIPL and Royal Bank of Scotland, the teamqualifiedfortheSemi-Finals.MeezanBankholdsastrongbattinglineupwithMr.ShakeelZia,Mr.AmmarFarooqui&Mr.RafiAhmedconsistently playing some exceptional cricket withindividual innings and partnerships throughout thetournament.

The bowling department has been accurate andeffective,thepickofbowlersZaheerAbbassandAyubBaig have picked up 10 wickets and 9 wicketsrespectively in the tournament. Assisted by theaccurate bowling of Ismail Ahmed, Rafi Ahmed &Syed Shojat Hussein, With high team morale andsupport of fellow employees, Meezan Bank isscheduledtoplaythesemi-finalagainstDubaiIslamicBank.

By:MirzaAyubBaigAssistantVicePresident,

CapitalMarket-Operations


19/20

MEEZANBANK

&

MeezanBankYESTERDAY TODAY

I joined Meezan Bank in 2004, when this departmentsoftheBank.Today,theverysamefloorsorganization hadjusttakenoffwithanaimtobethe'LargestandPremierIslamicBankofPakistan'.Aiming to revolutionize the Financial Industry ofPakistan, resistance was expected. Sharing my viewson Islamic Banking, the Bank's mission and itsoperations during family gathering and meetings, Irecall the strong resistance, skeptical views andnegative comments about both the organization andthe proposed banking methods. Despite myclarificationaboutShariahprinciple'sandguidelines,a comment was always put forward 'Profit' isjustanothertermfor'Riba',Today

this

organization

is

viewed

to

have

accomplished introducing Islamic Banking andFinance to Pakistan and in shedding light on theunquestioned excellence andjustice of the Shariahrulings.OurHeadOffice,locatedontwofloorsofthePNSC Building (Karachi) staffed the required

are inadequate to accommodate more than fourdepartmentsneedingtheorganizationtoshiftintoadedicated Head Office building (currently underconstruction).Lookingback,fromapointwhereIwasencouraged'nottojointheorganization',todayIreceivethesamepeoplescurriculumvitae'sforjoiningthisBank.Al-mighty Allah (S.W.T) has showered thisorganizationwithHisblessings,andtodaythosewhowere against Islamic Banking and the organization,those who had doubts about the organization'sexistence beyond five years are applying tojoin theMeezanBankfamilythroughanypossiblechannel.Meezan Bank is the success story as an employer ofBanking Industry of Pakistan, the establisher ofIslamicBankinginPakistanandwithoutdoubtisstillasignofprosperityandpromiseinoureconomy.

By:SyedShakeelZia,Federal.B.AreaBranch,Karachi

ChallengesofISLAMICBANKSANDTHEFUTUREOFISLAMICBANKING

IslamicBankingIndustryisstillinitschildhoodstageand there is a long way to go. Various Institutionsworld over are looking for Islamic alternatives toconventional modes of financing. Due to limitednumberofShariahScholarsandthehighgrowthinthe industry, the need for learned Scholars withexposure in Banking/ Finance is on the rise. Thisneed is recognized by Islamic Banking/ FinancialInstitutionsandtheScholarsalikewhichhasleadtothe rise in the number of training programs andcoursesinthisfield.The objective of Islamic Financing is equitabledistribution of wealth by asset backed financing tofulfill Customer needs without violating the

StrictcomplianceofShariahSupervisoryBoards/ShariahAdvisorGuidelines&AAOIFIShariahStandards. Payinghigherreturntodepositorsandcharginglowerfinancingchargesascomparedtoconventionalbanksinordertoboostpublicconfidence.

Depositors'moneyshouldnotbeallocatedtohighrisk-lowprofitassetclassesinordertoraiseprofitabilityofshareholders.

Focusedeffortsarerequiredtofacilitatelow-incomegroupbyprovidingIslamicalternativesintheareaofHousefinance,SMEfinance,Microfinance,Educationfinance,Medicalfinanceetc.

Takaful(IslamicalternativetoInsurance)principalsofShariah.Toachievethispurpose,Islamicbanking transactions should primarily be based onMusharakah/ Mudarabah (Profit & Loss sharingbasis) so that the capital flows from the rich to thepoor. The ratio of equity-based transactions to tradebasedtransactions shouldbeincreasedtoachievetherealbenefitsofIslamicbanking.IncaseswhereProfit&losssharingcontractsarenotpossibleorfeasible,Exchange contracts such as Murabaha, Ijarah,Diminishing Musharakah, Salam & Istisna etc. maybeused.Theseassetbackedtransactionalsocausetodecrease the level of inflation from the economy,provided they are completely genuine and Shariahcomplianttransactions.In order to meet above-mentioned objectives,followingstepswillbehelpfulinmovingintherightdirection:

productsshouldbedevelopedandpromotedforthebenefitofMuslimpopulation.

Fit&Propercriteria'fortheeligibilitytobecomeaShariahAdvisor/ShariahSupervisoryBoardmembermustbelaiddowninalljurisdictions.

AdequateresourcesmustbeallocatedtofacilitateResearch&Developmentandeducationofmasses.

AShari'aQualityRating(SQR)systemmaybeintroducedtofacilitateachievementofobjectivesandincreasecredibility,transparency,complianceandmanagementqualityofIslamicBankingIndustry.

By:Dr.MuhammadImranUsmaniShariahAdvisor

19


20/20

Recruitmentsforthelastthreemonth

WELCOMETOTHEMEEZANFamilyEmployeeName Branch EmployeeName Branch

*

AamirArshadAbdulHaseebShaikhAbdulMalikAbdulRaufAbdulRehmanBinMasoodAbdulRehmanJamalAbizarHatimAdeelButtAlizaMuqimAnjumJavedArooojHayatArsalanKhalidArshadAliKhosoAsadAliArifAsifAltafDastiAsifShabbirBasmaRamzanBilalKhanBilalNisarChaudhryMuhammadUmarEjazAkbarFaheemUllahQureshiFakharAbbasFarahMansoorFarazMuhammadFarrukhSalimGhulamAwaisHaiderAliHassanKhalidHassanRizwanHinaKanwalHiraUsmanMalikIbrahimMuhammadAbdulAzizIrfanShabbirJahangirAliJamilAhmedJanMuhammadNarejoKamranAhmedKamranShaikhKhalidNaseerKhanKhawajaJavedAhmedKhawajaMohsinAliLubnaAliSakraniMajidHussainMemonMajidMushtaqQureshiMehboobHussainJunejoMehdiAbbasNandwaniMirzaHammadShahBaigMirzaWahidAliMohsinIbrahimAbbasiMubasher MukhtarMuhammadAbubakarButtMuhammadAdeelAkramMuhammadAfzalShaikhMuhammadAkmalMuhammadAliMuhammadAnjumFerozMuhammadAtifFarooquiMuhammadAzamMugheriMuhammadBilalAhmadMuhammadBilalHussainJanjuaMuhammadBilalKhanMuhammadEhsanRehanMuhammadFarhanKhanMuhammadFarooqAzamMuhammadFarrukhIrfanKhanMuhammadHashimKhanMuhammadImranMuhammadImranZiaMuhammadJamilMuhammadJavedIqbalMuhammadKashifIqbalMuhammadKazimParachaMuhammadMubashar

BlueArea,IslamabadKorangi,KarachiHaripurDHAPhaseIII,LahoreGulberg,LahoreGulberg,LahorePNSC,KarachiAl-AzamSuperHighway,KarachiGulshan-e-Iqbal,KarachiSialkotGulberg,LahoreAllamaIqbalPECHS,KarachiSukkurGulberg,LahoreCollegeRoad,LahoreF-7JinnahSuperMarket,IslamabadSerenaHotel,FaislabadNorthKarachi,KarachiiCircularRoad,LahorePCHS,LahoreBarkat-e-Hydri,KarachiKarkhanoMarket,PeshawarBoharBazar,RawalpindiMain QuettaI.I.ChundrigarRoad,KarachiShahrah-e-Faisal,KarachiF.B.Area,KarachiSatianaRoad,FaisalabadI-9Markaz,IslamabadF.B.Area,KarachiPNSC,KarachiSaddar,RawalpindiPNSC,KarachiBlueArea,IslamabadGulshanChowrangi,KarachiPNSC,KarachiBinQasimLandhi,KarachiFTC,KarachiPNSC,KarachiPNSC,KarachiChowkYadgar,PeshawarPNSC,KarachiPNSC,KarachiNawabshahCavalryGround,LahoreTandoAdamPNSC,KarachiAabpara,IslamabadPNSC,KarachiBlueArea,IslamabadG.T.Road,PeshawarDHAPhaseIII,LahoreSerenaHotel,FaislabadSaddar,HyderabadKotwaliRoad,FaisalabadF.B.Area,KarachiMansehraAl-AzamSuperHighway,KarachiGulshan-e-Iqbal,KarachiSerenaHotel,FaislabadSerenaHotel,FaislabadBlueArea,IslamabadCircularRoad,LahoreShahalamMarket,LahoreFTC,KarachiShamsiSociety,KarachiF-11Markaz,IslamabadS.I.T.E.,KarachiF-10Markaz,IslamabadSaddarRoad,PeshawarF-11Markaz,IslamabadPNSC,KarachiPNSC,KarachiCavalryGround,Lahore

MuhammadNoumanAnwarMuhammadQasimMuhammadRehanAzharMuhammadRiazMuhammadSalmanAliMuhammadSalmanFaizMuhammadSalmanKhattakMuhammadShahidRazaMuhammadTahaShamimMuhammadTanveerSaleemMuhammadUmairMuhammadWaseemBariMuhammadZuhaibShaikhMunirAhmedMustafaAlamgirNadeemHussainNarejoNasirMansoorNomanAbdulQadirNomanLiaquatNoorHassanNoorulAinNooruddinSadruddinKassimOmerFarooqBhattiRabNawazRanaRababSarwarHashmiRabiaRafiqueRaeesAhmadAnsariRaheelArshadRaheelRashidRanaAdnanArifRehanRazaRizwanKarimQureshiRizwanKhurshidRubabAshrafSadaqatAliSagarAliShaikhSajidSaleemSameerJavedKhanSanaulHaqSanwalTheboSaudHassanShafiqurRahmanMughalShahBakhtShahWaliUllahShahzadAhmedRehanShirazAhmadShirazHassanShirazHussainSiddiquiShoaibMuhammadShoukatAliSohaibAliBaigSyedAzeemHussainSyedHaiderNaqviSyedHassanTariqAliSyedJibranHassanRizviSyedMuhammadAliSyedMuhammadYaqoubSyedMuhammadYasirSyedMuzaffarAlamSyedSaqibAliShahSyedaNaziaBashirTabishHaiderShaikhTanveerZafarUmerHaseebUzairSiddiquiWaqarShaikhWaseemRazaBaigZaffarAbbasBhayaniZaheerQadeerZahidSultanBhattiZeeshanEjazZeeshanJavedSiddiquiZohaibHasanAnsari

RaviRoad,LahoreDHAPhaseIIExt.,KarachiBahawalpurI-9Markaz,IslamabadBlueArea,IslamabadDHAPhaseIII,LahoreChandaniChowk,RawalpindiNewChalli,KarachiNewChalli,KarachiJoharTown,LahorePNSC,KarachiKotwaliRoad,FaisalabadPNSC,KarachiNewAirportRoad,LahorePNSC,KarachiBinQasimLandhi,KarachiPNSC,KarachiPNSC,KarachiS.I.T.E.,KarachiPNSC,KarachiBilawalChowk,KarachiGulshan-e-Iqbal,KarachiBlueArea,IslamabadSialkotSaddar,RawalpindiPNSC,KarachiBlueArea,IslamabadCircularRoad,LahoreJodiaBazar KarachiCircularRoad,LahoreSerenaHotel,FaislabadAbdaliRoad,MultanMuzaffarabad,AzadKashmirAbbottabadAbbottabadClifton,KarachiGulberg,LahoreClothMarket,KarachiPNSC,KarachiKhayaban-e-Shamsher,KarachiWaterPump,KarachiBoharBazar,RawalpindiChowkYadgar,PeshawarMardanClothMarket,KarachiPNSC,KarachiKorangi,KarachiJodiaBazar KarachiKorangi,KarachiAzamCloth,LahoreNewChalli,KarachiBahriaTown,RawalpindiNorthKarachiIndustrialArea,KarachiNorthKarachi,KarachiS.I.T.E.,KarachiNewGardenTown,LahorePNSC,KarachiI-9Markaz,IslamabadNorthNapierRoad,KarachiPNSC,KarachiBarkat-e-Hydri,KarachiDHAPhaseIIExt.,KarachiCircularRoad,LahoreCollegeRoad,LahoreF.B.Area,KarachiJodiaBazar KarachiKorangi,KarachiPNSC,KarachiBlueArea,IslamabadGulberg,LahoreBoharBazar,RawalpindiJodiaBazar KarachiSaddar,Rawalpindi

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