Karachi(Cliff News)Meezan Bank, Pakistan’s first and largest Islamic bank, has been recognized as the global winner of ‘Best Islamic Bank for Treasury Management’ for 2016 by Islamic Finance News of REDmoney Group, Malaysia. In addition to this global award, Meezan Bank has also emerged as a global runner-up for the ‘Most Innovative Islamic Bank’ proving to be a major player in the Islamic finance industry; particularly in the developing economic structures in the South Asian region.Furthermore, Meezan Bank has deservingly been named as the ‘Best Islamic Bank in Pakistan’, an award which has been conferred upon the Bank for the 10th time owing to its contributions to the Islamic finance industry.The Bank has also been awarded ‘Pakistan Deal of the Year’ award for jointly arranging and structuring PKR25 billion Syndicated Long-term Islamic Finance Facility to Power Holding Private Limited.The Islamic Finance News (IFN) Awards honours the best in the Islamic financial industry across the world and are among the most prestigious and recognized awards in the global Islamic financial markets. IFN conducts ‘Best Banks Poll’ every year to determine the Best Islamic Finance Institutions from around the world.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 550 branches supported by a countrywide network of over 550 ATMs, Visa & 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, 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.