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 802 branches. It commenced operations in 2002 when State Bank of Pakistan issued the first-ever license for Islamic commercial banking.

Meezan Bank Private Limited
TypePublic Limited
PSX: MEBL
IndustryIslamic banking
Founded2002 (2002)
FounderIrfan Siddiqui
HeadquartersKarachi, Pakistan
Number of locations
750 (2020)
Key people
Riyadh S.A.A. Edrees (Chairman)

Irfan Siddiqui (President and CEO)

Muhammad Taqi Usmani
Number of employees
more than 11500
ParentNoor Financial Investment Company 35.25%

Pak Kuwait Investment Company 30.00%

Islamic Development Bank 9.32%
SubsidiariesAl Meezan Investments
Websitewww.meezanbank.com

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.[1]

In 2014, Meezan Bank signed an agreement with HSBC Bank Middle East to acquire HSBC's Pakistan operations consisting of 10 branches.[2][3]

In 2015, Meezan Bank acquired Pakistan operations of HSBC Oman consisting of a single branch.[4][5]

Shareholding structure

References
  1. "Meezan Bank acquires SG operations". Dawn. May 2, 2002.
  2. "Meezan Bank to acquire HSBC Pakistan". Business Recorder. May 10, 2014.
  3. "Meezan Bank signs deal to acquire HSBC Pakistan". The News International. May 10, 2014.
  4. "Meezan acquires HSBC Oman's operations". The Express Tribune. November 7, 2015.
  5. "Meezan Bank acquires HSBC Oman". The News International. November 7, 2015.
  6. "Islamic Bank | Corporate Profile | About Us | Meezan Bank". www.meezanbank.com. Retrieved 2020-06-07.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.