islamic banking
DESCRIPTION
A details review of meezan bank and little information about islamic banking.TRANSCRIPT
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Presented by
Junaid Zamir
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What is Islamic Banking
It is based on the Islamic economic
system.
It is not restricted to Muslims only.
There are more than 300 Islamic
Financial Institutions in the world.
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When it Came into Being
• The Islamic Summit of Lahore, Pakistan held
in 1974 recommended the creation of Islamic
Banks and Islamic Development Bank.
• On 14 Ramadan 1420, the Shariah Bench of
the Supreme Court of Pakistan gave its
landmark decision banning interest in all its
forms and by whatever name it may be called.
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When it Came into Being
• After 55 years after its creation in the name of
Islam, Pakistan became the first Muslim
country to officially declare modern bank
interest as ar-riba, declared haram by Qur'an
• The court also specified a step by step
approach to rid the country of the evil of
interest
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How it is Different ?
• Islamic Orders not to use Money as a
commodity.
• They operate under the concept of lender-
borrower relationship and the profits
generated through this relationship are
divided between the two parties as per
agreement.
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How does it works ?
• The bank entirely depends upon the fixed deposits and does not borrows money from the central bank.
• Bank gives loan on basis of mutual agreement.
• Marjorly focuses on sales transaction.
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About Meezan Bank
At Meezan Bank we are committed to providing you a complete range of Shariah compliant banking services that are up to the highest professional standards.
To maintain absolute world class serviceexcellence, with a dedicated focus on value and recognition for our customers.
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Vision
Our Vision
Establish Islamic banking as banking of first choice to facilitate the implementation of an equitable economic system, providing a strong foundation for establishing a fair and just society for mankind.
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Mission
Our Mission To be a premier Islamic bank, offering a one-
stop shop for innovative value added products and services to our customers within the bounds of Shariah, while optimizing the stakeholders value through an organizational culture based on learning, fairness, respect for individual enterprise and performance.
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Our Services
• Personal Banking and Finance
• Commercial Finance
• Car Ijarah - Car Financing
• Easy Home - Home Financing
• Asset Management
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Current Analysis
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Profit and Loss
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Assets
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Deposits
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Target Market
• Entire World
• Islamic banking is for people of the world
not just for people in Muslim countries.
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Competitors
• Commercial Banks(non-islamic banks)
• Dubai Islamic
• Bank Al-Islami
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Future
• Replace conventional Banking system with
Islamic banking System.
• Expand their Branch Network.
(currently having 100 Branches in Pakistan)
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Probelms of Islamic banking
• A major problem is lack of awareness of Islamic banking among people.
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Thank You
Any Questions!