Meezan Bank gets Deal of the Year Award - Pakistan News Digest

Meezan Bank gets Deal of the Year Award

Karachi: Meezan Bank has been awarded ‘Pakistan Deal of the Year’ and ‘Musharakah Deal of the Year’ for 2012 by Islamic Finance News of RED money Group, Malaysia.

The Islamic Finance News IFN Awards honour the best in the Islamic financial industry and is one of the most prestigious and recognized awards in the global Islamic financial markets.

‘Sui Southern Gas Company SSGC – PKR 2.0 billion Certificates of Leasing Sukuk’ advised and arranged by Meezan Bank was highlighted as the ‘ Pakistan Deal of the Year ‘. Meezan Bank developed a unique and tax efficient financing structure for SSGC based on Ijarah.

The ‘Musharakah Deal of the Year’ for the Liberty Mills PKR 500 million Running Musharakah was awarded to Meezan Bank for its first ever transaction of Running Musharakah in the Textile Sector.

IFN has recognized Meezan Bank as the Best Islamic Bank for seven consecutive years 2005-2011 and has been awarded the Best Deal of the Year in 2008, 2009 and 2011.

Meezan Bank, has also been consistently recognized as the Best Islamic Bank in Pakistan by various local and international institutions such as Global Finance magazine 2007-2010, Asia Money 2010 and CFA Association Pakistan 2009, 2011. The JCR-VIS Credit Rating Company Limited, an affiliate of Japan Credit Rating Agency, Japan has rated Meezan Bank’s short term rating at A-1+ A-One Plus, the highest standard in short term rating, and a long-term entity rating at AA- Double A Minus with stable outlook which highlights sound performance indicators of the Bank.

   

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