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Meezan Bank

From Wikipedia, the free encyclopedia
Meezan Bank
Native name
میزان بینک
FormerlyAl Meezan Investment Bank Limited (1997–2002)
TypePublic
PSX: MEBL
KSE 100 component
KSE 30 component
IndustryIslamic banking
Founded27 January 1997; 29 years ago (1997-01-27)
HeadquartersKarachi-75700, Pakistan
Number of locations
1,105[1] (2025)
Area served
Pakistan
Key people
Services
RevenueDecrease Rs. 285.10 billion (US$1.0 billion)[1] (2025)
Decrease Rs. 194 billion (US$690 million)[1] (2025)
Decrease Rs. 89 billion (US$320 million)[1] (2025)
Total assetsIncrease Rs. 4.81 trillion (US$17 billion)[1] (2025)
Total equityIncrease Rs. 279 billion (US$1.0 billion)[1] (2025)
Owner
  • Noor Financial Investment (35.03%)
  • Pakistan Kuwait Investment Company (29.82%)
  • Islamic Development Bank (9.27%)
Number of employees
20,391[1] (2025)
SubsidiariesMeezan Exchange Company (100%)
Al Meezan Investment Management (65%)
Websitemeezanbank.com

Meezan Bank Limited (Urdu pronunciation: [mi.ˈzaːn bɛŋk] mee-ZAHN-BANK) is a Pakistani Islamic bank headquartered in Karachi.[2] It is the largest Islamic bank and the second-largest bank based on market capitalization in Pakistan.[3][4][5]

History

[edit]

Meezan Bank was founded as an Islamic investment bank in 1997 by Noor Financial, Pak Kuwait Investment Company, and Islamic Development Bank.[6] It was then known as Al-Meezan Investment Bank.[7]

In 2000, Meezan Bank was listed on the Karachi Stock Exchange.[8]

In 2002, Meezan Bank acquired Pakistan operations of Société Générale.[9] In its early years from 2002, Meezan Bank faced challenges gaining acceptance in Pakistan due to the unfamiliarity with Islamic banking and its stricter loan scrutiny.[10] To overcome this, Meezan attracted deposits from religious Muslims and shifted focus to provide loans to SMEs, including those that previously avoided traditional banking for religious reasons, allowing it to serve an underserved segment.[10]

In 2013, Noor Financial tried to sell its entire stake of 49.1 percent, valued at $190 million, to a British Virgin Island-based company named Vision Financial Holdings, but it was blocked by the State Bank of Pakistan.[11][12]

In May 2014, Meezan Bank agreed to acquire Pakistani operations of HSBC Bank Middle East, which included 10 local branches and access to 75 multinational corporate clients.[13][14] A year later, Meezan Bank acquired Pakistan operations of HSBC Oman consisting of a single branch.[15][16]

In March 2019, Noor Financial sold 34.3 million Meezan Bank shares to institutional investors for $20.92 million.[17] Previously, Noor Financial divested its stake multiple times in 2018.[18][19]

In 2017, Meezan upgraded its core banking system, Temenos’ T24, to release 16.[20]

Shareholding pattern

[edit]

The following is the shareholding structure of Meezan Bank, as of 30 June 2026:[21]

  • Noor Financial Investment Company (35.03 percent)
  • Pak Kuwait Investment Company (29.82 percent)[22]
  • Islamic Development Bank (9.27 percent)
  • Other shareholders (25.8 percent)

References

[edit]
  1. 1 2 3 4 5 6 7 "Meezan Bank Annual Report 2025" (PDF). Meezan Bank. Retrieved 2026-06-28.
  2. ↑ Everington, John (2023-10-30). "The rise and rise of Islamic banking in Pakistan". The Banker. Retrieved 2025-09-25.
  3. ↑ "Meezan Bank set to benefit from the government's expansion of Islamic debt issuance". Profit by Pakistan Today. 2020-01-06. Retrieved 2025-09-25.
  4. ↑ Jilani, Humza (October 27, 2024). "Meezan Bank's soaring shares herald rise of Islamic finance in Pakistan". Financial Times.
  5. ↑ Ahmed, Ali (2026-01-05). "Pakistan's 10 most valuable listed companies as of Dec 2025". Business Recorder. Retrieved 2026-06-28.
  6. ↑ Nair, Dinesh (2017-05-24). "Noor Weighs Sale of Stake in Pakistan's Meezan Bank". Bloomberg L.P. Archived from the original on 2018-08-16. Retrieved 2025-09-25.
  7. ↑ Tirmizi, Farooq (2019-09-23). "Every Pakistani bank wants to dethrone Meezan Bank in Islamic banking. Who can succeed?". Profit by Pakistan Today. Retrieved 2025-09-25.
  8. ↑ "Meezan Bank announces Rs10.94bn profit for 9 months". Business Recorder. 2019-10-25. Retrieved 2024-06-05.
  9. ↑ "Meezan Bank acquires SG operations". Dawn. 2002-05-02. Retrieved 2025-09-25.
  10. 1 2 Tirmizi, Farooq (October 11, 2020). "The dominance of the Big Five banks is about to be broken". Profit by Pakistan Today.
  11. ↑ Alam, Kazim (2013-12-18). "Divestment: Majority shareholder in Meezan Bank to sell stake". The Express Tribune. Retrieved 2025-09-25.
  12. ↑ "Pakistan c.bank blocks sale of Meezan Bank stake, Kuwait's Noor says". Reuters. 2014-03-17. Retrieved 2025-09-25.
  13. ↑ "Meezan Bank to acquire HSBC Pakistan – Business Recorder". Business Recorder. 2014-05-10. Retrieved 2025-09-25.
  14. ↑ "Meezan Bank signs deal to acquire HSBC Pakistan". The News International. 2014-05-10. Retrieved 2025-09-25.
  15. ↑ "Meezan acquires HSBC Oman's operations". The Express Tribune. 2015-11-06. Retrieved 2025-09-25.
  16. ↑ "Meezan Bank acquires HSBC Oman". The News International. 2015-11-07. Retrieved 2025-09-25.
  17. ↑ Iqbal, Shahid (2019-03-15). "Noor Investment sells 34.3m shares in Meezan Bank". Dawn. Retrieved 2025-09-25.
  18. ↑ Farooq, Mohammad (2019-05-25). "Noor Financial sells 2.49 percent stake in Meezan Bank to foreign investors". Profit by Pakistan Today. Retrieved 2025-09-25.
  19. ↑ "Kuwait's Noor Financial sells 1.35% stake in Pakistan's Meezan Bank".
  20. ↑ Andreasyan, Tanya (2017-10-18). "Meezan Bank in core banking system upgrade with NDC and Temenos". Fintech Futures. Retrieved 2025-09-25.
  21. ↑ "Islamic Bank | Corporate Profile | About Us | Meezan Bank". Meezan Bank. Archived from the original on 2025-09-21. Retrieved 2026-06-28.
  22. ↑ Mangi, Faseeh (2022-04-30). "Kuwait Seeks to Invest $750 Million in Pakistan Projects". Bloomberg L.P. Archived from the original on 2022-07-03. Retrieved 2025-09-25.

Bibliography

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Retrieved from "https://en.wikipedia.org/w/index.php?title=Meezan_Bank&oldid=1364755474"