KARACHI: Meezan Bank, Pakistan’s first and largest Islamic Bank has been awarded ‘Best Islamic Bank in Pakistan’ for 2012 by Asiamoney magazine, Hong Kong. This is the third time Meezan Bank has been recognized by Asiamoney for its excellence in Islamic Banking, with previous awards received for 2009 and 2011.
This award was presented after conducting an extensive research and analysis of Islamic financial institutions in the main markets of Asia and the Gulf States over the past 12 months. Meezan Bank was awarded the ‘Best Islamic Bank’ in Pakistan for its commitment to quality, customer satisfaction, innovation and reliability.
The award brings to light a highly successful year for Meezan Bank. The Bank demonstrated robust business growth in 2012, closing the year with a deposit figure of Rs. 230 billion. With a branch network of 310 branches in 90 cities across Pakistan, Meezan Bank is not only the first and largest Islamic bank in Pakistan but is also Pakistan’s 8th largest bank in terms of branch network.
Meezan Bank, has been consistently recognized as the Best Islamic Bank in Pakistan by various other local and international institutions such as Islamic Finance News Malaysia, Global Finance magazine, Asset AAA Hong Kong and CFA Association Pakistan. The JCRVIS Credit Rating Company Limited, an affiliate of Japan Credit Rating Agency, Japan has rated Meezan Bank’s short term rating at A1+ A One Plus, the highest standard in short term rating, and a long-term entity rating at AA Double A Minus with stable outlook which highlights sound performance indicators of the Bank.