Karachi(Cliff News) Meezan Bank’s Annual Report 2015, based on the theme ‘Infinite Possibilities’ has been awarded the prize of being the 2nd Best Corporate Report in Pakistan’s banking sector by the joint committee of Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Cost & Management Accountants of Pakistan (ICMAP). Mr. Shabbir Hamza Khandwala, CFO and Group Head Finance-Meezan Bank, received the award on behalf of the Bank at a ceremony held recently in Karachi.Launched in the year 2000, the ‘Best Corporate Report Awards’ are the most prestigious awards in Pakistan for recognizing and encouraging corporations to follow international best practices in preparing their annual reports. They are held jointly by ICAP and ICMAP every year to recognize organizations for the quality and depth of their corporate reporting systems.Meezan Bank’s recognition as one of the top annual reports demonstrates the Bank’s commitment to ethics of transparency and maintaining an open and direct relationship with its stakeholders. The Bank’s Annual Reports have been receiving this award for the last several years; it is noteworthy that the Bank has held the top third position for the past two years and has elevated to second position, this year.Meezan Bank is the 8th largest bank in Pakistan. The Bank provides a comprehensive range of Islamic banking products and services through a retail banking network of more than 550 branches supported by a countrywide network of over 500 ATMs, VISA and MasterCard Debit cards, a 24/7 Call Center, Internet Banking and Mobile Banking 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 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.
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.