Karachi, December 20, 2023: Meezan Bank, a pioneer in Islamic banking, convened its 63rd Shariah Board Meeting at Darul Uloom, Karachi, underscoring the institution’s unwavering commitment to upholding Islamic principles in its financial operations.
The meeting, chaired by Justice (Retd.) Muhammad Taqi Usmani, saw the participation of esteemed members of the Shariah Board, including Dr. Muhammad Imran Ashraf Usmani, Sheikh Esam Mohamed Ishaq, and Mufti Muhammad Naveed Alam (Resident Shariah Board Member).
The presence of Meezan Bank’s Founding President and CEO, Mr. Irfan Siddiqui, along with Deputy CEOs Mr. Ariful Islam and Syed Amir Ali, and Senior Management, highlighted the significance of the Shariah Board’s role in shaping the bank’s Islamic financial framework.
One of the key discussions in the meeting revolved around the Shariah structures for the issuance of Sovereign Government of Pakistan Sukuk. The Shariah Supervisory Board (SSB) provided valuable guidance on aligning these financial instruments with Islamic principles, furthering the bank’s mission to contribute to an Islamic economic framework.
The Shariah Board also dedicated time to review various policies and procedures implemented by Meezan Bank. Expressing satisfaction, the board acknowledged the bank’s dedication to adhering meticulously to Islamic principles in its day-to-day operations. The members praised the diversity of training sessions and Shariah review activities conducted within the bank, showcasing the institution’s commitment to continuous improvement and learning in the field of Islamic finance.
Meezan Bank’s dedication to Shariah-compliant banking was highlighted during the meeting, with the Shariah Board expressing contentment with the bank’s efforts. The board emphasized its satisfaction with the meticulous adherence to Islamic principles, lauding Meezan Bank for its role as a trailblazer in Islamic banking. The institution’s commitment to providing financial solutions that align seamlessly with Shariah guidelines was underscored as a cornerstone of its success and influence in the Islamic finance sector.
As Meezan Bank continues to evolve and innovate in the dynamic landscape of Islamic finance, the 63rd Shariah Board Meeting serves as a testament to the institution’s unwavering commitment to maintaining the highest standards of Shariah compliance. The collaborative efforts of the Shariah Board, leadership, and management reinforce Meezan Bank’s position as a leading force in the advancement of Islamic banking principles in Pakistan and beyond.
