Al Meezan celebrates 20 years of its services
KARACHI: Al Meezan Investments, a leading investment management company in Pakistan, is pleased to announce the completion of two decades of its journey on serving investment needs of investors.
State Bank of Pakistan Executive Director Samar Hasnain graced the occasion as the Chief Guest. MBL President & CEO Irfan Siddiqui, MBL Deputy CEO Ariful Islam, Al Meezan Chief Executive Mohammad Shoaib and other officials along with some valued investors were present at the occasion.
Mohammad Shoaib, in his speech highlighted the 20 years journey of Al Meezan which began in 1995 and has been truly rewarding and marked with many milestones. He thanked the investors and said, “We owe all of our success firstly to the blessings of Allah and then to the continuous support and patronage of over 37,000 investors. Al Meezan has one of the longest track records in private sector in the area of investment management in Pakistan and has emerged as one of Pakistan’s leading investment solutions provider in a Shariah compliant manner. It has been time and again recognised for its consistency in performance, outshining the competitors in domestic and global Islamic funds market. Not only that, it is perhaps one of the few institutions in the country which has helped investors achieve their investment objectives in a truly Shariah Compliant manner.”
Ariful Islam congratulated Al Meezan on achievement of this milestone. He said, “We are the pioneers of Islamic banking in Pakistan and also one of the pioneers in Pakistan’s private sector asset management industry. We are very proud of our heritage and longstanding history. This history would not have been possible without the support of our investors and I am very grateful for their continued patronage, trust and partnership.” He also applauded the Al Meezan team for their continued hard work and dedication to bring Al Meezan at its current position of Pakistan’s Largest Private Sector Asset Management Company.
SBP Executive Director Samar Hasnain gave an overview of Islamic finance and banking in Pakistan. He highlighted the growth in demand of Islamic finance globally and how over the years SBP has developed a supportive regulatory and supervisory regime for Islamic banking that is in line with international best practices.
Al Meezan with AM2+ Management Quality Rating (denoting High Management quality and a stable outlook), is the Largest private sector asset management company in Pakistan with Assets Under Management of over Rs 68 billion (as on November 30, 2015). Al Meezan is also the manager of Pakistan’s Largest Equity Fund -Meezan Islamic Fund and the Largest Pension Fund – Meezan Tahaffuz Pension Fund in private sector, currently with assets under management of Rs 26.6 billion and about Rs 4.8 billion (as on November 30, 2015) respectively.