Meezan Bank's Shariah Supervisory Board approved guidelines for digital Mudarabah-based mobile account to support financial inclusion in Pakistan during 46th Shariah Supervisory Board meeting.

The meeting was chaired by Dr Muhammad Imran Ashraf Usmani and attended by Sheikh Esam Mohamed Ishaq, Mufti Muhammad Naveed Alam, Ahmed Ali Siddiqui and other key officials. Irfan Siddiqui - President and CEO, Meezan Bank and Ariful Islam - Deputy CEO, Meezan Bank were also present in the meeting which was held at Movenpick Hotel, Karachi.

The Shariah Supervisory Board showed its overall satisfaction on the Shariah-compliance environment and operations of the Bank.

Several key issues were discussed in the meeting related to modern trends in Islamic banking. Guidelines for a digital mobile account - Meezan Asaan Mobile Account based on Mudarabah was approved under which a customer can open his digital mobile account at Meezan Bank without the hassle of visiting any physical branch. On maintaining balance in this account, the customer would be entitled to receive halal profit based on actual returns of Shariah-compliant financings on monthly basis.-PR