Meezan Bank Lone

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Meezan Bank offers financing solutions that adhere strictly to Islamic banking principles, avoiding interest (riba) and instead using Shariah-compliant contracts. Here’s a detailed overview of the financing products Meezan Bank provides:

1. Car Ijarah (Islamic Car Financing)

  • Purpose: Purchase of new or used vehicles.
  • Structure: Ijarah (Lease Agreement)
    • The bank buys the car and leases it to the customer.
    • The customer pays fixed monthly rentals and becomes the owner at the end of the lease period.
  • Tenure: Up to 7 years.
  • Key Features:
    • Shariah-compliant financing.
    • Fixed rental payments, unaffected by market rate changes.
    • No hidden charges.

2. Easy Home Financing (Islamic Home Financing)

  • Purpose: Purchase, construction, or renovation of residential properties.
  • Structure: Diminishing Musharakah
    • The customer and the bank jointly own the property.
    • The customer gradually buys the bank’s share through monthly payments.
  • Tenure: Up to 20 years.
  • Key Features:
    • Flexible and affordable repayment plans.
    • Shariah-compliant ownership transfer.
    • Financing for salaried individuals, businessmen, and professionals.

3. Meezan Tijarah (Business Financing)

  • Purpose: To cater to the financing needs of businesses for working capital or asset purchase.
  • Structure: Various Shariah-compliant contracts, including:
    • Murabaha (Cost-plus sale).
    • Ijara (Leasing).
    • Musharakah (Partnership).
  • Key Features:
    • Tailored to meet the requirements of SMEs and large businesses.
    • Flexible repayment schedules.

4. Laptop Financing

  • Purpose: Financing for purchasing laptops.
  • Structure: Musawamah (Cost-plus Sale) or other Shariah-compliant modes.
  • Key Features:
    • Fixed monthly payments.
    • Special plans for students and professionals.

5. Meezan Kafalah (Education Financing)

  • Purpose: Financing for higher education (local or international).
  • Structure: Diminishing Musharakah or Murabaha
  • Key Features:
    • Covers tuition, accommodation, and other educational expenses.
    • Easy repayment terms aligned with Islamic principles.

6. Islamic Credit Cards (Meezan Visa Debit & EasyPay Financing)

  • Purpose: Short-term financing for everyday purchases.
  • Structure: Based on Ujrah (Service Charge).
  • Key Features:
    • No interest charges; instead, a fixed fee for services.
    • Rewards and cashback options available.

Eligibility Requirements (General)

  • Age: Typically 21–60 years (varies by product).
  • Income: Minimum income threshold depends on the product.
  • Documentation:
    • CNIC.
    • Salary slips or proof of business income.
    • Bank statements (last 6 months).
    • Proof of property ownership (for home financing).

Why Choose Meezan Bank?

  • Pakistan’s largest Islamic bank with a network of over 900 branches.
  • Certified Shariah-compliant by leading Islamic scholars.
  • Transparent and ethical banking practices.

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