Meezan Bank
Encyclopedia
Meezan Bank Limited is a publicly listed company offering Islamic Banking in Pakistan. It was first incorporated on January 27, 1997, starting operations as an Islamic investment bank in August of that year. In January 2002, the Bank was granted Pakistan's first full-fledged commercial banking license dedicated to Islamic banking
, by the State Bank of Pakistan
.
The Banks main shareholders are financial institutions, including the Pak Kuwait Investment Company, the ‘Islamic Development Bank of Jeddah’, and the ‘Shamil Bank of Bahrain’.
Islamic banking
Islamic banking is banking or banking activity that is consistent with the principles of Islamic law and its practical application through the development of Islamic economics. Sharia prohibits the fixed or floating payment or acceptance of specific interest or fees for loans of money...
, by the State Bank of Pakistan
State Bank of Pakistan
The State Bank of Pakistan is the central bank of Pakistan. While its constitution, as originally laid down in the State Bank of Pakistan Order 1948, remained basically unchanged until January 1, 1974, when the bank was nationalized, the scope of its functions was considerably enlarged...
.
The Banks main shareholders are financial institutions, including the Pak Kuwait Investment Company, the ‘Islamic Development Bank of Jeddah’, and the ‘Shamil Bank of Bahrain’.