Meezan Digital Remittance Account has been specifically designed to facilitate Resident Pakistanis who are beneficiaries of home remittance to cover living and personal expenses. Meezan Digital Remittance Account can be opened digitally through an easy and hassle-free process without physically visiting the branch. This initiative also helps in directing the influx of remittances towards the formal banking sector.
NOTE: Only One Digital Remittance Account will be offered per customer. This account is being offered to new customers only. If you are an existing Meezan Bank customer, kindly visit your parent branch.
Account can be fed with local credits up to the maximum limit of PKR 1,000,000 per month.
Meezan Digital Remittance Account is offered in both current & savings accounts under the Islamic concept of Qard & Mudarabah.
PKR Savings Account
Bank will share 50% of Gross Income as Mudarib
Depositor will share 50% of Gross Income as Rab-ul-Maal
| Products | Tier Groups | Weightage Assigned |
|---|---|---|
| Meezan Digi Remittance Account | Monthly | 0.65 |
| Products | Tenure | Profit Assigned |
|---|---|---|
| Meezan Digi Remittance Account | Monthly | 13.09% |
On agreeing to become a Pak Rupee Account holder, the customer enters into a relationship based on Mudarabah with Meezan Bank. Under this relationship, the customer is an Investor (Rab-ul-Maal) and the Bank is the Manager (Mudarib) of the funds deposited by the customers. The Bank allocates the funds received from the customers to a deposit pool; funds from the pool are utilized to provide financing to customers under Islamic modes that include, but are not restricted to Murabaha, Ijarah, Istisna and Diminishing Musharakah.
Current Account (Pak Rupee) is based on Qard contract. The Bank can use these funds for investment and other purposes. This account allows you the peace of mind of having your money safely deposited with a bank with the additional assurance that the Bank is not investing your money in activities that contravene Shariah principles.
