Meezan to have 160 branches by year end

Pakistan Observer:Meezan Bank has announced that it planned to establish a network of over 160 branches across Pakistan by the end of year 2008.

This was stated by President and CEO Meezan Bank Limited Irfan Siddiqui in his statement issued at the inauguration of bank’s 131st branch in Garden West Karachi.

Aala Hazrat, a notable personality of the Business Community, was the Chief Guest at the inauguration of the branch.

Irfan Siddiqui said that Meezan bank has achieved yet another milestone by successfully establishing 131 branches spread over 35 major cities across Pakistan within a short span of 6 years. He said that Meezan bank would continue to expand its branch network in 2008 with the addition of 29 more branches, thus establishing a network of over 160 branches across Pakistan by the end of 2008.

The investment in the branch network is driven by the Bank’s vision to Establish Islamic Banking as the Banking of First Choice so as to enable it to reach each and every citizen of Pakistan.

There are currently six dedicated Islamic Banks operating in Pakistan with a total of 250 branches. Meezan Bank’s share of branch network is over 50% of the total, thereby making it the largest Islamic Banking network in Pakistan. The Bank has a total deposit base of over Rs. 60 billion with more than 150,000 customers and has maintained a profitable and secure track record.

Meezan Bank has an extensive product menu offering a complete range of Islamic Banking products and services.