KARACHI: Meezan Bank, Pakistan’s leading Islamic bank and Burj Solar Energy Private Limited (BSEPL) are pleased to announce the financial close of Rs1 billion syndicated Islamic finance facility for BSEPL’s portfolio of renewable distributed power generation in Pakistan. The first tranche of PKR 580 million will be used to finance the construction of 7 MW … Read more
KARACHI: Supernet Limited, a subsidiary of Telecard Limited has been awarded Shariah Screening Certificate by Meezan Bank Limited, based on the review of consolidated financial statements of SNL, certifying its compliance with KSE Meezan Islamic Index Criteria set out by Pakistan Stock Exchange. READ MORE: Supernet set to raise Rs475 million through initial offering This … Read more
KARACHI: Meezan Bank has successfully instituted an Islamic alternate to Inland Bill Discounting Facility for Huawei Technologies Pakistan (Pvt.) Limited – a first-of-its-kind transaction in Islamic banking industry, developed as a Shariah-compliant alternate to local bill discounting facility. READ MORE: Meezan Bank lends Rs1 billion under youth scheme The first drawdown under the facility was … Read more
KARACHI: Bank Alfalah has secured the top position in house financing under the government’s flagship Mera Pakistan Mera Ghar (MPMG). According to a statement issued by the State Bank of Pakistan (SBP), Bank Alfalah secured the top position followed by Meezan Bank Limited and Standard Chartered Bank Limited. A ceremony was held on Friday at … Read more
KARACHI: Engro Enfrashare, a wholly-owned subsidiary of Engro Corporation, has entered into an Islamic syndicate arrangement amounting to Rs4.5 billion, led by Meezan Bank and Faysal Bank, according to a statement issued on Tuesday. The proceeds raised through this Islamic syndication would be utilized to finance the development of tower sites for various mobile network … Read more
KARACHI: Meezan Bank has signed a partnership with Retailo, the fastest-growing B2B startup in the MENAP region. The partnership is aimed at providing deserving retailers Kamyab Jawan financing in a Shariah-compliant manner to expand and support their small businesses. The MoU was signed by Group Head Consumer Finance Meezan Bank, Arshad Majeed, and Wahaj Ahmed, … Read more
KARACHI: Meezan Bank and National Clearing Company of Pakistan Limited (NCCPL) have agreed to develop new Shariah-compliant products for the country’s capital market. Through this collaboration, Meezan Bank will extend its support in introducing Murabaha Share Financing System (‘MSF’), a new Shariah-compliant product, implemented by NCCPL, will help in extending Shariah-compliant stock financing facilities to stock … Read more
KARACHI: Meezan Bank’s Shariah Board, In its 51st Shariah Board meeting, approved Shariah structure for issuance of new Government of Pakistan (GoP) Ijarah Sukuks. The 51st Shariah Board meeting of Meezan Bank at Dar ul Uloom, Korangi, Karachi. The meeting was chaired by Justice (Retd.) Mufti Muhammad Taqi Usmani – Chairman Shariah Supervisory Board, Meezan … Read more
KARACHI: Agha Steel Industries has signed a contract with Renewable Power Pvt. Ltd. for installing a 2.25 Megawatt solar power project at its production facility located at Port Qasim Karachi, a statement said on Wednesday. Meezan Bank Ltd is the banking partner for this transaction. This would be among one of the largest solar power … Read more
KARACHI: Meezan Bank Limited has announced direct integration for routing settlement of Visa card transactions. A statement on Tuesday said the shift comes in continuation with its direct integration with Mastercard last year, bringing the bank a step closer to its goal of transforming its customers’ payment experience, enabling faster and more seamless transactions. Meezan … Read more