Karachi(Cliff News)Meezan Bank, Pakistan’s first and largest Islamic bank recently signed a fee collection agreement with the Institute of Business Administration, Karachi (IBA). Under this agreement, the Bank will provide Payments & Cash Management services to IBA through the Bank’s state-of-the-art web based electronic solution ‘eBiz+’. The agreement was signed by Mr. Ijaz Farooq, Group Head Retail Banking- Meezan Bank and Mr. Moeid Sultan, Director Finance- IBA.This agreement between IBA Karachi and Meezan Bank is a testimony of the Bank’s expertise in the field of payment and cash management services through which the Bank provides digitalized collections solutions to its clients for a hassle-free banking experience.Meezan Bank is the 8th largest bank in Pakistan and the leading Islamic bank of the country. The Bank provides a comprehensive range of Islamic banking products and services through a retail banking network of more than 600 branches supported by a countrywide network of over 580 ATMs, Visa & MasterCard Debit cards, a 24/7 Call Center, Internet Banking and Mobile Application facility.
Meezan Bank has consistently been recognized as the Best Islamic Bank in Pakistan by numerous local and international institutions, which is a testimony of the Bank’s commitment to excellence. These institutions include Islamic Finance News – Malaysia, Global Finance magazine – New York, Asset AAA – Hong Kong, Asiamoney – Hong Kong, The Banker – United Kingdom, South Asian Federation of Accountants, Islamic Finance Forum of South Asian Awards,Pakistan Banking Awards – Dawn & IBP Pakistan, Employers Federation of Pakistan and CFA Association – Pakistan.
The JCR-VIS Credit Rating Company Limited, an affiliate of Japan Credit Rating Agency, Japan has reaffirmed the Bank’s long-term entity rating of AA (Double A) and short-term rating at A1+ (A One Plus) with stable outlook. The rating indicates sound performance indicators of the Bank. Meezan Bank is the only Islamic bank with AA credit rating in the Islamic banking industry in Pakistan.